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Statement of Unaudited Financial Results for the Quarter and Nine Months Ended 31.12.2017



(Rs.Lakhs)

Particulars

3 Months Ended 31.12.2017 (Unaudited)

3 Months Ended 30.09.2017 (Unaudited)

3 Months Ended 31.12.2016 (Unaudited)

9 Months Ended 31.12.2017 (Unaudited)

 9 Months  Ended 31.12.2016 (Unaudited)

Year Ended 31.03.2017 (Unaudited)

1. Income              
(a) Revenue from Operations  4348 8977 8095 17591 21562 26349
(b) Other Income 58 183 2 243 98 127
            Total Income 4406 9160 8097 17834 21660 26476
2. Expenses          
(a)Cost of Materials consumed 17 2938 2929 7809 11252 15034
(b) Purchase of stock - in - trade 0 0 10 0 44 48
(c)Changes in Inventories of Finished Goods, Work in progress and stock-in-trade 3433 3765 2909 4400 2924 1092
(d) Excise Duty 0 (461) 236 (161) 891 1207
(e) Power & Fuel 32 826 426 1713 1245 2131
(f)Employee Benefits Expense 340 350 356 1059 1062 1401
(g) Finance Costs  (5) 101 141 190 379 475
(h) Depreciation and Amortisation   Expense 141 142 141 424 423 570
(i) Other Expenses 277 273 320 803 1001 1609
           Total Expenses 4235 7934 7468 16237 19221 23567
3.Profit / (Loss)   before  Exceptional Items  and taxes 171 1226 629 1597 2439 2909
4. Exceptional Items- (Gain)/Loss [Note 7] 665 - - 665 - 671
5. Profit / (Loss)  Before Tax (3-4) (494) 1226 629 932 2439 2238
6. Tax Expenses               
            Current Tax - - - -
            Deferred Tax  (159) 368 165 271 675 633
Total Tax Expenses  (159)  368 165 271 675 633
7. Profit/Loss for the period (5-6) (335) 858 464 661 1764 1605
8.Other Comprehensive Income(OCI)                       
 i. Item that will not be reclassified to profit or loss            
 a) Effect of measuring Investments at fair value  2905 (442) 3753 2138 8149 9784
  b)Actuarial gain on employee defined benefit obligation - - - - - 35
ii.Income tax relating to items that will not be reclassified to profit or loss - - - - - (12)
iii. Item that will be reclassfied to proft or loss            
    Fair value changes on derivatives designated as cash flow hedges(net of tax) (7) 10 - - - -
Total OCI 2898 (432) 3753 2138 8149 9807
9.Total   Comprehensive Income for the period (7+8) 2563 426 4217 2799 9913 11412
10. Earnings per share (Face Value : Rs 10/- per share)            
        a) Basic  (3.90) 9.98 5.40 7.69 20.51 18.66
         b) Diluted  (3.90) 9.98 5.40 7.69 20.51 18.66
11. Paid up Equity Share Capital(Face Value : Rs 10/- per share) 860 860 860 860 860 860

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

- - - - - 24799

Segmentwise Revenue,Results and Capital Employed (Unaudited)

  

Particulars                    

3 Months Ended 31.12.2017 (Unaudited)

3 Months Ended 30.09.2017 (Unaudited)

3 Months Ended 31.12.2016 (Unaudited)

9 Months Ended 31.12.2017 (Unaudited)

 9 Months  Ended 31.12.2016 (Unaudited)

Year Ended 31.03.2017 (Unaudited)

1. Segment Revenue                            
(a) Sugar                4200 8393 7936 16094 21020 25173
(b) Co-generation 148 1661 984 3778 3694 6937
Sub total 4348 10054 8920 19872 24714 32110
Less: Intersegmental Revenue - 1077 825 2281 3152 5761
Sales/Income From Operations                 4348 8977 8095 17591 21562 26349
           
2. Segment Results                          
Profit / (Loss) Before Tax and interest from each segment             
(a) Sugar (316) 1129 786 642 2391 1690
(b) Co-generation (12) 197 69 617 650 1377
Sub total (328) 1326 855 1259 3041 3067
Less:            
(a) Finance Costs (5) 101 141 190 379 475
(b) Other unallocable expenditure/(income) 171 (1) 85 137 223 354
Total Profit / (Loss) Before Tax (494) 1226 629 932 2439 2238
           
3. Segment Assets            
(a) Sugar 4829 9333 10176 4829 10176 9203
(b) Co-generation 9799 9911 11187 9799 11187 10522
(c) Unallocable 18120 13894 12426 18120 12426 14061
Total 32748 33138 33789 32748 33789 33786
           
4. Segment Liabilities            
(a) Sugar 2648 2230 3863 2648 3863 2069
(b) Co-generation 34 31 122 34 122 311
(c) Unallocable 1867 5241 5644 1867 5644 5747
Total 4549 7502 9629 4549 9629 8127

Notes :
 
1. The Company has adopted Indian Accounting Standards (“Ind AS”) from April 1, 2017. Accordingly the financial results
    as above have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS
    34 ‘Interim Financial Reporting’ prescribed under section 133 of the Companies Act, 2013 read with the relevant rules
    issued there under and the other accounting principles generally accepted in India. Further, the Company has presented
    the results of the previous periods / year under Ind AS.

2. Consequent to transition to Ind AS, the reconciliation of Equity and Net Profit is provided as below for the relevant    
    periods of the previous year in accordance with the requirements of paragraph 32 of the Ind AS -101 - First time
    adoption of Ind AS:
     
   Reconciliation of Equity and net profit as reported under previous GAAP and as per Ind AS:

3.  Revenue from operations for periods up to June 30, 2017 includes excise duty, which is discontinued effective July 01,
     2017  upon implementation of Goods and Services Tax (GST) in India. In accordance with 'Ind AS 18, Revenue', GST is not
     included in revenue from operations. In view of the restructuring of indirect taxes, revenue from operations for the periods
     before and after this change are not comparable.

4. Figures for the previous period have been regrouped wherever necessary.
5. Sugar production being seasonal, performance of one quarter is not indicative of the trend for the whole year.

6. Exceptional items comprise of:
    (i)  Change in accounting estimate of amounts payable for sugarcane supply during 2013-14 to 2016-17 seasons pursuant to
          negotiation for one time settlement - Rs.701 lakhs
    (ii) VRS compensation       - Rs.62 lakhs
    (iii) Purchase Tax refund    - Rs.98 lakhs.

7. Sugarcane availability and fresh planting continue to remain under severe stress due to recurring drought and depleted water
    storage in reservoirs.

8. The above unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at the
    respective meetings held on 02nd February 2018. The statutory auditors have conducted a limited review of these financial
    results.
  For Ponni Sugars (Erode) Ltd
Chennai

02.02.2018

N Ramanathan
Managing Director
 
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