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Statement of Unaudited Financial Results for the Quarter and Six Months Ended 30.09.2018



(Rs.Lakhs)

Particulars

3 Months Ended 30.09.2018 (Unaudited)

3 Months Ended 30.06.2018 (Unaudited)

3 Months Ended 30.09.2017 (Unaudited)

6 Months Ended 30.09.2018 (Unaudited)

 6 Months  Ended 30.09.2017 (Unaudited)

Year Ended 31.03.2018 (Audited)

1. Income              
(a) Revenue from Operations  3428 2017 8975 5445 13238 19598
(b) Other Income 281 18 183 299 185 280
Total Income 3709 2035 9158 5744 13423 19878
2. Expenses            
(a)Cost of Materials consumed 5051 217  2938 5266 7791 10675
(b)Changes in Inventories of Finished Goods and Work in progress (4381) 406 3763 (3975) 963 1789
(c) Excise Duty - - (461) - (161) (161)
(d) Power & Fuel 1321 947 826 2268 1681 2738
(e)Employee Benefits Expense 351 333 350 684  719 1413
(f) Finance Costs  59 39 83 98  177 197
(g) Depreciation and Amortisation   Expense 148 148 142 296 283 568
(h) Other Expenses 295 178 291 473 544 1153
Total Expenses 2844 2268 7932 5912 11997 18372
3.Profit / (Loss)   before  Exceptional Items  and taxes 865 (233) 1226 632  1426 1506
4. Exceptional Items - Loss - - - -  - 1126
5. Profit / (Loss)  Before Tax (3-4) 865 (233) 1226 632 1426 380
6. Tax Expenses               
            Current Tax 80 - 221 80 263 46
            Deferred Tax 134 (68) 147 66 167 -
Total Tax Expenses  214 (68)  368 146 430 46
7. Profit/Loss for the period (5-6) 651 (165)  858 486 996 334
8.Other Comprehensive Income(OCI)                       
 i. Item that will not be reclassified to profit or loss            
 a) Effect of measuring Investments at fair value  3036 546 (442) 3582  (767) 1553
  b)Actuarial gain on employee defined benefit obligation - - - - - 2
ii.Income tax relating to items that will not be reclassified to profit or loss (107) - - (107) - (1)
iii. Item that will be reclassfied to proft or loss            
    Fair value changes on derivatives designated as cash flow hedges(net of tax)     10    7  
Total OCI 2929 546 (432) 3475 (760) 1554
9.Total   Comprehensive Income for the period (7+8) 3580 381 426 3961 236 1888
10. Earnings per share (Face Value : Rs 10/- per share)            
        a) Basic  7.57 (1.92) 9.98 5.65  11.58 3.88
         b) Diluted  7.57 (1.92) 9.98 5.65 11.58 3.88
11. Paid up Equity Share Capital(Face Value : Rs 10/- per share) 860 860 860 860  860 860

12. Other Equity (excluding Revaluation Reserve) as shown in the audited  balance sheet of the previous year

- - - - - 26427

Segmentwise Revenue,Results and Capital Employed (Unaudited)

  

Particulars                    

3 Months Ended 30.09.2018 (Unaudited)

3 Months Ended 30.06.2018 (Unaudited)

3 Months Ended 30.09.2017 (Unaudited)

6 Months Ended 30.09.2018 (Unaudited)

 6 Months  Ended 30.09.2017 (Unaudited)

Year Ended 31.03.2018 (Audited)

1. Segment Revenue                            
(a) Sugar                2141 975 8391 3116 11889 17331
(b) Co-generation 3213 1165 1661 4378 3630 5960
Sub total 5354 2140 10052 7494 15519 23291
Less: Intersegmental Revenue 1926 123 1077 2049 2281 3693
Sales/Income From Operations                 3428 2017 8975 5445 13238 19598
           
2. Segment Results                          
Profit / (Loss) Before Tax and interest from each segment             
(a) Sugar (61) (168) 1129 (229) 1012 (230)
(b) Co-generation 859 33 197 892 629 1042
Sub total 798 (135) 1326 663 1641 812
Less:            
(a) Finance Costs 59 39 83 98 177 197
(b) Other unallocable expenditure/(income) (126) 59 17 (67) 38 235
Total Profit / (Loss) Before Tax 865 (233) 1226 632 1426 380
           
3. Segment Assets            
(a) Sugar 11310 6982 9333 11310 9333 7426
(b) Co-generation 10594 9544 9911 10594 9911 9742
(c) Unallocable 19390 16203  13894 19390 13894 15628
Total 41294 32729 33138 41294 33138 32836
           
4. Segment Liabilities            
(a) Sugar 4789 1652 2230 4789 2230 3919
(b) Co-generation 348 182  31 348 31 207
(c) Unallocable 5013 3227  5241 5013 5241 1423
Total 10150 5061 7502 10150 7502 5549

Statement of Assets and Liabilities(Unaudited)

Particulars As at 30.09.2018 As at 31.03.2018 Particulars As at 30.09.2018 AS at 31.03.2018
EQUITY AND LIABILITES     ASSETS  
Equity     Non Current assets    
(a) Equity Share Capital  860 860 (a) Property, Plant and Equipment 11663 11949
(b) Other Equity  30284 26427 (b)Capital Work-in Progress  27 6
Total Equity   31144 27287 (c) Other Intangible Assets 2 3
 Liabilities     (d) Financial Assets    
 Non-Current Liabilities          (i) Investments 19197 15615
(a) Financial Liabilities - Borrowings  - -    (ii) Other Financial Assets  27 25
(b) Deffered Tax Liabilities (Net)   325 152 (e) Other Non-Current Assets 35 55
(c) Other Non-Current Liabilities 578 525      
Total Non-current liabilities  903 677 Total Non-current Assets 30951 27653
  Current liabilities       Current assets       
      (a) Inventories 7168 3131
(a) Financial Liabilities     (b)Financial Assets    
    (i) Borrowings  3856 151      (i) Trade Receivables 2813 1839
     (ii) Trade Payables 4552 3697    (ii) Cash & Cash Equivalents 173 32
   (iii)Other Financial Liabilities 351 644     (iii) Bank Balances other than (iii) above 20 21
(b) Other Current Liabilities 460 356     (iv) Others 16 1
(c) Provisions 28 24      
      c) Other Current Assets 153 159
Total Current Liabilities 9247 4872 Total Current Assets 10343 5183
TOTAL EQUITY AND LIABILITIES 41294 32836   TOTAL - ASSETS 41294 32836
Notes :
 
1. Revenue from operations till June 30, 2017 included excise duty, which has been replaced by Goods and Services Tax (GST) effective July 01, 2017. GST does not form part of turnover and is hence not included in revenue from operations. In view of this restructuring of indirect taxes, revenue from operations for the quarter / six months ended on 30th September 2018 is not comparable with the previous periods.

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

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

4 Regulated sale quota for sugar restored from June'18 caused steep fall in revenue and higher stock build up.

5 Below par sugarcane availability due to water stress and depressed sugar prices under supply glut continue to pose serious challenge to near term profitability.

6 The above unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at the respective meetings held on 26th October 2018. The statutory auditors have conducted a limited review of the financial results.
  For Ponni Sugars (Erode) Ltd
Chennai

26.10.2018

N Ramanathan
Managing Director
 
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