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Statement of Audited Financial Results for the Quarter and Year Ended 31.03.2015



(Rs. in Lakhs)

 Description   

3 Months Ended 31.03.2015

3 Months Ended 31.12.2014

3 Months Ended 31.03.2014

Year Ended 31.03.2015

Year Ended 31.03.2014

Income from operations          
(a) Net Sales / Income from Operations (Net of excise duty)  2105 3101 3400  15787 16781 
(b) Other Operating Income 25 35 25 89 97
Total Income from operations(Net)   2130 3136 3425 15876 16878
Expenses          
(a) Cost of Material consumed 4492 577 4268 11971 11774
(b)Changes in inventories of finished goods and work in progress (3486) 2543 (3015) (53) 132
(c)Utilities 750 145 999 2047 2363
(d) Employee benifits expenses  336 334 319 1327 1199
(e) Depreciation and amortisation expense (Note 4) 141 142 (407) 566 825
(f) Other Expenses 399 190 375 1133 961
Total Expenses 2632 3931 2539 16991 17254
Profit / (Loss)  from operations before other Income, finance costs  & Exceptional Items (1-2) (502) (795) 886 (1115) (376)
Other Income 55 3 57 191 225
Profit / (Loss)  from ordinary activities before finance costs and exceptional items (3+4) (447) (792) 943 (924) (151)
Financial Costs 130 120 170 512 671
Profit / (Loss)  from ordinary activities after finance costs but before exceptional items (5-6) (577) (912) 773 (1436) (822)
Exceptional items (Note 5) 1026 0 541 893 541

Profit / (Loss) from ordinary activities before tax (7+8) 

449 (912) 1314 (543) (281)
Tax Expense 173 (317) 655 (178) 197
Net Profit / (Loss) for the period (9-10)      276 (595) 659 (365) (478)
Paid-up Equity Share Capital
(Face Value  Rs.10 per share)
860 860 860 860 860
Reserves excluding Revaluation Reserves 11151 10875 11516 11151 11516

Earning   Per     Share (Rs)    

         

 - Basic  and Diluted

3.21 (6.92) 7.66 (4.24) (5.56)
 Public Shareholding           

 - Number of Shares

4531681 4549474 4246495 4531681 4246495
 - Percentage of shareholding 52.70 52.91 49.39 52.70 49.39
 Promoters and Promoter Group Shareholding          
  a) Pledged / Encumbered     
  -  Number of Shares 425000 425000 425000 425000 425000

  - Percentage of Shares(as a % of the total Shareholding of promoter and Promoter Group)

10.45 10.50 9.77 10.45 9.77
  - Percentage of Share(as a % of the total Share capital of the company) 4.94 4.94 4.94 4.94 4.94
  b) Non-encumbered
   - Number of Shares 3641737 3623944 3926923 3641737 3926923
   - Percentage of Shares(as a % of the total Shareholding of promoter and promoter Group) 89.55 89.50 90.23 89.55 90.23
   - Percentage of Share(as a % of the total Share capital of the Company) 42.36 42.15 45.67 42.36 45.67

Segmentwise Revenue,Results and Capital Employed (Audited)

  

 Particulars                    

3 Months Ended 31.03.2015

3 Months Ended 31.12.2014

3 Months Ended 31.03.2014

 Year  Ended 31.03.2015

Year Ended 31.03.2014

1. Segment Revenue                          
a) Sugar                1830 3104 3153 15229 16244
b) Co-generation 1014 98 677 2172 1825
Sub total 2844 3202 3830 17401 18069
Less: Intersegmental Revenue 714 66 405 1525 1191
Net Sales/Income From Operations                 2130 3136 3425 15876 16878
         
2. Segment Results                        
Profit / (Loss) before Tax and interest from each segment          
(a) Sugar 240 (507) 366 34 143
(b) Co-generation 365 (185) 1167 100 375
Sub total 605 (692) 1533 134 518
Less:          
(a) Finance Costs 130 120 170 512 671
(b) Other unallocable Expenditure/(Income) 26 100 49 165 128
Total Profit / (Loss) Before Tax 449 (912) 1314 (543) (281)
         
3. Capital Employed          
 (Segment Assets- Segment Liabilities)                   
(a) Sugar 8558 6506 9916 8558 9916
(b) Co-generation 9654 9328 9363 9654 9363
(c) Unallocable Assets less Liabilities (6201) (4099) (6903) (6201) (6903)
Total Capital Employed 12011 11735 12376 12011 12376





Statement of Assets and Liabilities (Audited)
  
Particulars As at 31.03.2015  As at 31.03.2014  Particulars As at 31.03.2015  As at 31.03.2014
EQUITY AND LIABILITES     ASSETS  
Shareholders' funds     Non-current assets    
(a) Share capital    860 860   (a) Fixed assets 12789 13406
(b) Reserves and surplus  11151 11516 (b) Non-Current Investments   2079 2079
Sub-total - Shareholders funds   12011 12376 (c) Long term Loans and  Advances 281 262
Non-Current liabilities     Sub-total Non-current assets 15149 15747
(a) Long-term borrowings  4238 4926      
(b) Deffered Tax Liabilities (Net)   129 307      
Sub -total -Non-current liabilities  4367 5233   Current assets      
Current liabilities       (a) Inventories 7250 7214
(a) Short-term borrowings 3438 3214   (b)Trade receivables 1504 1156
(b) Trade Payables 3478 2541   (c)Cash and Bank balances 45 79
(c)Other current liabilities 749 636    (d) Short-term loans and advances  260 299
(d) Short-term provisions 1159 1210    (e) Other current assets 691 695
Sub-total -Current liabilities 8521 7581 Sub-total -Current assets   9750 9443
TOTAL EQUITY AND LIABILITIES 24899 25190   TOTAL - ASSETS 24899 25190
    Notes :
    1. No dividend  has been recommended by the board in view of losses suffered by the Company in FY 2014-15.
    2. Sugar production is seasonal in nature. Performance of one quarter is hence not indicative of the trend for whole year.
    3. Figures for the last quarter are the difference between the audited figures for the full financial year and the published figures for nine months period upto the third quarter of relevant financial year.
    4. The company has changed the method of providing depreciation from 1sr April 2014 as required by the Companies Act, 2013. Accorindingly, depreciation is provided in accordance with Schedule II thereof for the current year as against the rates specified in Schedule XIV to the  companies Act, 1956 adopted in the pervious year. As a result, depreciation for the quarter and the year are lower by Rs. 73 lakhs and Rs. 277 lakhs respectively.
    5. Exceptional item for the current quarter represents the write-down of trade payables consistent with the accounting policy of the company and pursuant to the developments during the period.
    6. Drought conditions in the operational area have come to severely cripple cane crop. It continues to pose a serious challenge to cane availability and its quality in FY 2015-16.
    7. Number of Investor complaints for the quarter ended 31-03-2015:                             Beginning-Nil, Received-Nil, Disposed-Nil and Pending-Nil.
    8. The Register of Members and Share Transfer Books of the company will remain closed from Friday, the 17th July 2015 to Friday, the 24th July 2015 (both days inclusive).
    9.  The above results were reviwed by the Audit Committee and approved by the Board of Directors at the respective meetings held on 29-05-2015. 
      For Ponni Sugars (Erode) Ltd
    Chennai N Ramanathan
    29.05.2015 Managing Director