 INTRODUCTION:

EID Parry India Limited, a prominent subsidiary of the Murugappa Group, is a

leading company in the Indian sugar and bio-products industry. Established in 1788, it holds
the distinction of being one of the oldest companies in India. Headquartered in Chennai,
Tamil Nadu, EID Parry has a rich history that spans over two centuries, evolving from a small
trading company to a significant player in the agribusiness sector.The company was founded
by Thomas Parry, a Welsh businessman, who established it as a trading concern in the early
19th century. Over the years, EID Parry expanded its operations, delving into various sectors,
including sugar manufacturing, distillery, bioproducts, and nutraceuticals. Its ability to adapt
and innovate has been a cornerstone of its long-standing success.EID Parry is committed to
sustainability and environmental stewardship. The company implements eco-friendly
practices across its operations, including energy conservation, waste management, and water
recycling. Its sugar mills are equipped with co-generation plants that produce green power,
contributing to the company’s energy needs and reducing its carbon footprint.Innovation is at
the heart of EID Parry’s operations. The company invests significantly in research and
development, focusing on improving crop yields, enhancing production processes, and
developing new products in the bio-products and nutraceuticals sectors. Its state-of-the-art
research facilities work on agricultural and biochemical innovations, ensuring that the
company remains at the forefront of industry developments.EID Parry has a robust
distribution network that caters to both domestic and international markets. The company
exports sugar and bio-products to various countries, establishing a significant presence in
global markets. Its commitment to quality and customer satisfaction has earned it a strong
reputation and trust among consumers.As a part of the Murugappa Group, EID Parry upholds
the group’s values of integrity, passion, and responsibility. It plays a vital role in the
agricultural sector, to the rural economy by supporting farmers and promoting sustainable
agricultural practices.

 CORE BUSINESS SEGMENTS:

EID Parry’s operations are primarily focused on three key areas;

 1. Sugar Manufacturing: As one of the largest sugar producers in India, the company
operates multiple state-of-the-art mills across Tamil Nadu, Karnataka, and Andhra
Pradesh. It produces various grades of sugar, catering to both domestic and
international markets.
Sugar Varieties:
• Refined Sugar: High-purity sugar for domestic and international markets.
• White Sugar: Widely used in households and the food industry.
Applications:
• Food and beverage industry.
• Pharmaceuticals.
•Confectionery and bakery products .
2. Bio-products: EID Parry is a significant producer of ethanol and alcohol, derived
from sugarcane by-products. These contribute to India’s renewable energy initiatives
and support the national biofuel policy, promoting sustainability.
• Ethanol:Produced from molasses, a by-product of sugar processing.Used in the
production of biofuels, reducing fossil fuel dependence.Supports India’s ethanol
blending program, promoting renewable energy.
• Alcohol:Rectified spirit and extra neutral alcohol.Utilized in the beverage,
pharmaceutical, and chemical industries.
3. Nutraceuticals: The company has diversified into health and wellness, producing
natural supplements such as Spirulina. This segment focuses on offering health
benefits through organic products, tapping into the growing demand for
nutraceuticals.
Spirulina:
• A highly nutritious algae, rich in proteins, vitamins, and minerals.Available in
powder and tablet forms.
• Supports.

With its rich legacy and focus on innovation, sustainability, and community engagement, EID
Parry India Limited continues to be a leader in the sugar and bio-products industry. As it
looks to the future, the company aims to expand its market presence and contribute to a
sustainable agribusiness ecosystem.EID Parry remains a significant player in the agro-
industrial sector, with strong foundations in sugar production and promising growth prospects
in its diversified ventures.
  COST CONTROL MEASURES:

EID Parry, a prominent player in the agro-industrial sector, focuses on several strategic cost
control measures to ensure operational efficiency and sustainable growth. Here’s an overview
of their comprehensive approach:

 EID With a focus on ESG, we drive four sources of values: top line growth and
portfolio shifts, cost reduction Towards environment leadership through yield
improvement, de-risking the transition and increasing employee productivity.
 The Company is evolving its personality from market-facing sugar to related
businesses that are not exposed to commodity price movements but generate a
premium over the market average. This transformation is expected to have an impact
on realisations, and margins even as upfront costs for building the non-sugar
businesses could warrant capital investments – the distillery business with a relatively
short payback and the sweetener retail and food businesses with a longer payback.
 EID Parry emphasises governance, operational excellence, cost leadership and
information transparency.
 Moderated the cost of sugarcane cultivation by 4.48% through enhanced farm
mechanisation.
 The cane-harvesting operations are streamlined with the help of the smart card cane
weighment system, where vendor-farmer data can be accessed using this card,
eliminating intermediaries, costs and time.
 we controlled fixed costs, which we have spoken about earlier. In addition to this, we
are undertaking a plethora of initiatives at an organisational level to unearth
opportunities for efficiency improvements and cost control through innovations across
the farm-to-fork value chain.
 Inter Segment prices are normally negotiated amongst the segments with reference to
cost, market prices and business risks, within an overall optimisation objective for the
enterprise.
 Capital efficiency of The Company’s primary objective is to maximise EBIDTA per
tonn of cane.
 During the last few years, there has been a churn in the Company’s revenues that is
visibly manifested in its capital efficiency.
 This increased capital efficiency was achieved despite a substantial amount invested in the
business in the last two financial years, whose full realisation is yet to be achieved.
 The Company is focused on enhancing capital efficiency through the increased use of net
worth in its capital investments, growing investments in non-sugar businesses, building
businesses with a multi-decade relevance, lower working capital outlay and progressive
graduation from asset-driven to asset-light businesses.
 EID company respect to the adequacy of the internal financial controls with reference to
Standalone Ind AS Financial Statements of the Company and the operating effectiveness of
such controls, refer to our separate Report in “Annexure A”.
 Their audit involves performing procedures to obtain audit evidence about the adequacy of
the internal financial controls system with reference to financial statements and their
operating effectiveness.
 The result is that stakeholder value creation has emerged as a holistic and comprehensive
means ofappraising the effectiveness of modern-day organisations.
 The effectiveness of these initiatives has been validated through enhanced cane yields, high
sugar recovery, growing proportion of the Company’s non-sugarbusiness and a growing
proportion of sugar revenues from institutional sales marked by demanding plant, products
and process standards.
 The Management has assessed the effectiveness of the Company’s internal control over
financial reporting as of March 31, 2023 and found the same to be adequate and effective.
 The Secretarial Audit report is neither an assurance as to the future viability of the company
nor of the efficacy or effectiveness with which the management has conducted the affairs of
the company.

 CONCLUSION:
To conclude the annual report for EID Parry The EID Parry has demonstrated
resilience and adaptability in a challenging market environment. The company has
focused on sustainable growth through strategic investments, cost management, and
innovation. Financial performance showed improvement in key areas, reflecting
robust operational efficiencies and market positioning. The commitment to
sustainability and community engagement remains a core aspect of their strategy,
ensuring long-term value creation for stakeholders. Moving forward, EID Parry aims
to leverage its strengths in agribusiness and expand its presence in value-added
products, maintaining a balance between growth and sustainability. Looking ahead,
EID Parry is poised for continued growth, leveraging its core competencies and
market insights. The company plans to strengthen its market position by focusing on
product innovation, sustainability, and expanding its footprint in high-potential
markets. Emphasizing a balance between growth and sustainability, EID Parry is well-
positioned to navigate future challenges and capitalize on emerging opportunities.In
conclusion, EID Parry's annual report underscores the company’s strategic focus on
innovation, sustainability, and community engagement. With a robust financial
performance, a commitment to sustainable practices, and a proactive approach to
market expansion, EID Parry is on a promising trajectory for long-term success. The
company’s dedication to creating value for its stakeholders, coupled with its forward-
thinking strategy, ensures a sustainable and prosperous future.