NIGERIA – Dangote Sugar Refinery Plc has announced the appointment of Mr. Ravindra Singh Singhvi,currently serving the chief operating officer role as its acting Managing Director.
According to a statement issued to the Nigerian Stock Exchange, the company’s board of directors said Ravindra’s appointment was effective 18th June 2019.
Mr Ravindra has over 37 years of experience in manufacturing, particularly in sugar production, textile products, cement, and petrochemical industries in India.
He is a chartered accountant with competence in Company Secretary and General Management and holds a CA from The Institute of Chartered Accountants of India (ICAI) and a CS from the Institute of Company Secretaries of India (ICSI)
Before joining Dangote Sugar Refinery Plc, he was the Managing Director/ chief executive of NSL Sugar Limited Hyderabad, India, and Managing Director E.I.D Parry Limited, Chennai India.
He also served as the president Indo Rama Synthetics India Limited, Birla Group and Executive Director at S Kumar Nationwide Limited among others.
Mr Ravindra was the national chairman of Power Committee of Indian Sugar Manufacturers Association and has also worked with various government bodies to draft new policies and laws, reports Naira Metrics.
Notably, he oversaw the signing of the Power Purchase Agreement of 550 MW with the Government of Karnataka State for various sugar companies.
He also served as the Chairman of the Committee for Sugar Association for drafting of the new Sugar Cane Act in the State of Karnataka for fixation of Sugar Cane Price.
He has helped companies enhance performance optimally and financially and has helped companies to access funds for projects and working capital from local as well as international banks, particularly in India.
The company reported a profit before tax of US$96.24 million and US$418.35 million in revenue during its full year results for the financial year ended 31st December 2018.
As the leading sugar producer both by volume and market share in the country, the firm recorded sales volume of 581,504 tonnes with sugar production at Savannah Sugar at 12,375 tonnes while full year refinery production at its Apapa plant at 564,785 tonnes.
Dangote sugar has an annual production capacity of 1.44 million metric tonnes and runs a backward integration model as part of the strategic investments for future expansion of the firm under the Dangote Sugar for Nigeria Project campaign.
The former COO said that through the backward integration concept, the company has a goal of