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Statement of audited Financial Results for the Quarter and Year Ended 31.03.2018



(Rs.Lakhs)

Particulars

3 Months Ended 31.03.2018 (Audited)

3 Months Ended 31.12.2017 (Unaudited)

3 Months Ended 31.03.2017 (Audited)

Year Ended 31.03.2018 (Audited)

Year Ended 31.03.2017 (Audited)

1. Income   (Note 7)    (Note 7)     
(a) Revenue from Operations  2012 4348 4780 19598 26288
(b) Other Income 37 58 27 280 125
            Total Income 2049 4406 4807 19878 26413
2. Expenses          
(a)Cost of Materials consumed 2867 17 3782 10675 15025
(b)Changes in Inventories of Finished Goods, Work in progress and stock-in-trade (2607) 3433 (1835) 1789 1088
(c) Excise Duty 0 0 316 (161) 1207
(d) Power & Fuel 1025 32 886 2738 2131
(e)Employee Benefits Expense 354 340 358 1413 1420
(f) Finance Costs  7 (5) 96 197 475
(g) Depreciation and Amortisation   Expense 144 141 147 568 570
(h) Other Expenses 350 277 607 1153 1608
           Total Expenses 2140 4235 4357 18372 23524
3.Profit / (Loss)   before  Exceptional Items  and taxes (91) 171 450 1506 2889
4. Exceptional Items- (Gain)/Loss [Note 9] 461 665 671 1126 671
5. Profit / (Loss)  Before Tax (3-4) (552) (494) (221) (380) 2218
6. Tax Expenses             
            Current Tax 46 - 426 46 426
            Deferred Tax (271) (159) (475) - 200
Total Tax Expenses  (225) (159) (49) 46 626
7. Profit/Loss for the period (5-6) (327) (335) (172) 334 1592
8.Other Comprehensive Income(OCI)                     
 i. Item that will not be reclassified to profit or loss          
 a) Effect of measuring Investments at fair value  (585) 2905 1635 1553 9784
  b)Actuarial gain on employee defined benefit obligation 2 - 54 2 54
ii.Income tax relating to items that will not be reclassified to profit or loss (1) - (19) (1) (19)
iii. Item that will be reclassfied to proft or loss          
    Fair value changes on derivatives designated as cash flow hedges(net of tax) - (7) - - -
Total OCI (584) 2898 1670 1554 9819
9.Total   Comprehensive Income for the period (7+8) (911) 2563 1498 1888 11411
10. Earnings per share (Face Value : Rs 10/- per share)          
        a) Basic  (3.80) (3.90) (2.00) 3.88 18.51
         b) Diluted  (3.80) (3.90) (2.00) 3.88 18.51
11. Paid up Equity Share Capital(Face Value : Rs 10/- per share) 860 860 860 860 860

12. Other Equity (excluding Revaluation Resereve) as at balance sheet date

- - - 26427 24798

Segmentwise Revenue,Results and Capital Employed (Audited)

  

Particulars                    

3 Months Ended 31.03.2018 (Audited)

3 Months Ended 31.12.2017 (Unaudited)

3 Months Ended 31.03.2017 (Audited)

Year Ended 31.03.2018 (Audited)

Year Ended 31.03.2017 (Audited)

1. Segment Revenue                   (Note 7)   (Note 7)    
(a) Sugar                1242 4200 4146 17331 25112
(b) Co-generation 2182 148 3243 5960 6937
Sub total 3424 4348 7389 23291 32049
Less: Intersegmental Revenue 1412 - 2609 3693 5761
Sales/Income From Operations                 2012 4348 4780 19598 26288
         
2. Segment Results                        
Profit / (Loss) Before Tax and interest from each segment           
(a) Sugar (872) (316) (720) (230) 1671
(b) Co-generation 425 (12) 727 1042 1377
Sub total (447) (328) 7 812 3048
Less:          
(a) Finance Costs 7 (5) 96 197 475
(b) Other unallocable expenditure/(income) 98 171 132 235 355
Total Profit / (Loss) Before Tax (552) (494) (221) 380 2218
         
3. Segment Assets          
(a) Sugar 7426 4829 9203 7426 9203
(b) Co-generation 9742 9799 10522 9742 10522
(c) Unallocable 15668 18120 14061 15668 14061
Total 32836 32748 33786 32836 33786
         
4. Segment Liabilities          
(a) Sugar 3919 2648 2070 3919 2070
(b) Co-generation 207 34 311 207 311
(c) Unallocable 1423 1867 5447 1423 5747
Total 5549 4549 8128 5549 8128



Statement of Assets & Liabilities (Audited)

  

Particulars                    

As at 31.03.2018

As at 31.03.2017

A. ASSETS    
1. Non Current Assets                    
(a) Property, Plant & Equipment                11949 11839
(b) Capital Work In Progress 6 -
(c) Other Intangible Assets 3 1
(d) Financial Assets    
    (i) Investments  15615 14061
    (ii) Other Financial Assets  25 25
(e) Other Non Current Assets  55 31
Total Non Current Assets 27653 25957
2. Current Assets                  
(a) Inventories 3131 4913
(b) Financial Assets    
       (i) Trade Receivables 1839 2396
      (ii) Cash and Cash Equivalents 32 174
     (iii) Bank balances other than (ii) above  21 24
      (iv) Others   1 60
(c) Other Current Assets 159 262
Total Current Assets 5183 7829
TOTAL ASSETS 32836 33786
      
EQUITY AND LIABILITIES    
Equity    
(a) Equity share Capital 860 860
(b) Other Equity  26427 24798
Total Equity 27287 25658
   
B Liabilities    
1. Non-Current Liabilities     
(a) Financial Liabilities    
     (i) Borrowings  - 2483
(b) Deffered Tax Liabilities (Net) 152 151
(c) Other Non Current Liabilities 525 655
Total Non Current Liabilities 677 3289
      
2. Current Liabilities    
 (a) Financial Liabilities    
        (i) Borrowings 151 1304
        (ii) Trade Payables 3697 1465
        (iii) Other Financial Liabilities 644 1173
 (b) Other Current Liabilities 356 569
 (c) Provisions 24 328
Total Current Liabilities 4872 4839
TOTAL EQUITY AND LIABILITIES 32836 33786

Notes :
 
1. The Company has adopted Indian Accounting Standards ("Ind AS") from April 1, 2017. Further, the Company has
    restated the results of the previous periods / year under Ind AS.

2. Reconciliation of Equity and net profit as reported under previous GAAP and as per Ind AS:
     
  
 
3.  The Board has recommended a dividend of t 1.00 per Equity Share for FY 2017-18. 2017

4. The Register of Members and Share Transfer Books of the Company will remain closed from 19-07-2018 to 25-07-2018 (both
    days inclusive)

5. Revenue from operations for periods up to June 30, 2017 includes excise duty, that is replaced effective July 01, 2017 by
   Goods and Services Tax (GST). In accordance with 'Ind AS 18, Revenue', revenue from operations excludes GST and hence is
   not comparable for the periods before and after this change.

6. Figures for the previous period have been regrouped wherever necessary.

7. 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.

8. Sugar production being seasonal, performance of one quarter is not indicative of the trend for the whole year.

9. Exceptional items comprise of: (Rs. in Lakhs)                 Quarter Ended                    Year Ended
                                                             
   (i) Change in accounting estimate of amounts payable                457                             1158
       for sugarcane supply during 2013-14 to 2016-17
       seasons pursuant to one time setttlement
 
 (ii) VRS compensation                                                                  4                                   66
 
  (iii) Purchase Tax refund                                                              0                                 (98)

10. Acute cane shortage caused by drought coupled with formidable fall in sugar price poses serious threat to near term viable
      operations.

11. The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at the respective
     meetings held on 25th May 2018.
 


Chennai
25.05.2018

For Ponni Sugars (Erode) Ltd

 N Ramanathan
Managing Director
 
 

 
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