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Statement of Audited Financial Results for the Quarter and Year Ended 31.03.2017



(Rs. in Lakhs)

 Description   

3 Months Ended 31.03.2017

3 Months Ended 31.12.2016

3 Months Ended 31.03.2016

Year Ended 31.03.2017

Year Ended 31.03.2016

Revenue from  operations          
Sale of products (Gross)  4702 8057 5393 26132 17527
Less Excise Duty 209 420 235 1241 674
Net Sale of products 4493 7637 5158 24891 16853
Other Operating Revenues  78 26 21 156 74
Other Income 29 2 70 127 154
Total Revenue 4600 7665 5249 25174 17081
Expenses        
(a) Cost of material consumed 3782 2927 4419

15025

11322
(b) Changes in inventories (1835) 2909 (1929) 1088 1168
(c) Power & Fuel 886 426 715 2131 1704
(d) Employee benifits expense  304 356 388 1366 1352
(e) Repairs & Maintenance  421 193 143 882 479
(f) Other Expenses 334 (54) 385 697 733
Total Expenses 3892 6757 4121 21189 16758
Profit before finance costs, Depreciation and Amortization 708 908 1128 3985 323
Financial Costs  94 140 118 475 587
Depreciation and Amortization Expense  147  141  141  570  564
Profit / (Loss)  before exceptional items   467  627  869  2940  (828)
Exceptional items  634  0  (1090)  776  (1090)

Profit/(Loss) before tax   

 (167)  627  1959  2164  262
Tax Expenses          
a) Current Tax    0  0 0  0  0
b) Deferred Tax  (30)  165 619  645 72
Profit/(Loss) After Tax  (137)  462 1340  1519 190

Earnings   Per    Equity Share (Rs)    

         

Basic and Diluted (Nominal Value Rs. 10 Per Share) 

 (1.59)  5.37  15.58  17.66 2.21

Segmentwise Revenue,Results and Capital Employed (Audited)

  

 Particulars                    

3 Months Ended 31.03.2017

3 Months Ended 31.12.2016

3 Months Ended 31.03.2016

 Year  Ended 31.03.2017

Year Ended 31.03.2016

1. Segment Revenue                          
a) Sugar               

4146

7924  4361  25112  16161
b) Co-generation 3243 984  2976  6937  4376
Sub total 7389 8908  7337  32049  20537
Less: Intersegmental Revenue 2609 825  1923  5761  2936
Sales/Income From Operations                 4780 8083  5414  26288   17601
         
2. Segment Results                        
Profit / (Loss) before Tax and interest from each segment          
(a) Sugar (641) 787  (20) 1725 (1374)
(b) Co-generation 739 68  2153 1272 2480
Sub total 98 855  2133 2997 1106
Less:        
(a) Finance Costs 94 140  118 475 587
(b) Other unallocable Expenditure/(Income) 171 88  56 358 257
Total Profit / (Loss) Before Tax (167) 627  1959 2164 262
         
3. Segment Assets          
(a) Sugar 9204 10178  11843 9204 11843
(b) Co-generation 10522 11187  10670 10522 10670
(c) Unallocable 2774 2829  2348 2774 2348
Total 22500 24194  24861 22500 24861
4. Segment Liabilities          
(a) Sugar 2069 3899  4612 2069 4612
(b) Co-generation 311 125  377 311 377
(c) Unallocable 6442 6355  7713 6442 7713
Total 8822 10379  12702 8822 12702

Statement of Assets and Liabilities (Audited)
  
Particulars As at 31.03.2017  As at 31.03.2016  Particulars As at 31.03.2017 As at 31.03.2016
EQUITY AND LIABILITES     ASSETS  
Shareholders' funds     Non-current assets    
(a) Share capital    860 860   (a) Fixed assets 11840 12274
(b) Reserves and surplus  12818 11299 (b) Non-Current Investments   2079 2079
Sub-total - Shareholders funds   13678 12159 (c) Long term Loans and  Advances 731 304
Non-Current liabilities     Sub-total Non-current assets 14650 14657
(a) Long-term borrowings  2483 4112      
(b) Deffered Tax Liabilities (Net)   846 201      
Sub -total -Non-current liabilities  3329 4313   Current assets      
Current liabilities     (a) Inventories 4913 6046
(a) Short-term borrowings 1304 2557   (b)Trade receivables 2398 2822
(b) Trade Payables 1465 2900   (c)Cash and Bank balances 198 85
(c)Other current liabilities 1742 1656    (d) Short-term loans and advances  280 292
(d) Short-term provisions 982 1276    (e) Other current assets 61 959
Sub-total -Current liabilities 5493 8389 Sub-total -Current assets   7850 10204
TOTAL EQUITY AND LIABILITIES 22500 24861   TOTAL - ASSETS 22500 24861
    Notes :
    1. The Board has recommended a dividend of  Rs. 2.50 per Equity Share for FY 2016-17..
    2. The Register of Members and Share Transfer Books of the Company will remain closed from 27-07-2017 to 02-08-2017 (both days inclusive).
    3. Sugar production is seasonal in nature. Performance of one quarter is hence not indicative of the trend for whole year.
    4. 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.
    5. Proposed dividend pending declaration is not recognized as a liability as at 31st March 2017. The change in accounting policy to comply with the revised Accounting Standard 4 has however no impact on the profit for the year.
    6. The Company has recognized the disallowance of Government Subsidies (Rs. 464 lakhs) and rejection of its appeal on electricity tax and interest thereon (Rs. 207 lakhs) in the current quarter that are included in Exceptional Items.
    7. Figures for the previous period have been regrouped wherever necessary.
    8. Water stressed condition in the operational area poses grave concern. Cane availability in FY 2017-18 is estimated to fall steeply impairing production and impacting margins. Raw sugar imports under Tariff Quota would help mitigate the hardship.
    9. The above results were reviewed by the Audit Committee and approved by the Board of Directors at the respective meetings held on 30-05-2017.
      For Ponni Sugars (Erode) Ltd
    Chennai N Ramanathan
    30.05.2017 Managing Director