|
Particulars |
3 Months Ended 31.03.2020 (Audited) |
3 Months Ended 31.12.2019 (Unaudited) |
3 Months Ended 31.03.2019 (Audited) |
Year Ended 31.03.2020 (Audited) |
Year Ended 31.03.2019 (Audited) |
|---|
| 1. |
Income |
|
|
|
|
|
| a) |
Revenue from Operations |
6344 |
7100 |
8333 |
31049 |
18484 |
| b) |
Other Income |
31 |
7 |
20 |
404 |
312 |
|
Total Income |
6375 |
7107 |
8353 |
31453 |
18796 |
| 2. |
Expenses |
|
|
|
|
|
| a) |
Cost of Materials Consumed |
5363 |
2757 |
5508 |
17547 |
12934 |
| b) |
Changes in Inventories of Finished Goods and Work-in- progress |
(1856) |
2255 |
(281) |
2553 |
(3143) |
| c) |
Power & Fuel |
891 |
485 |
1214 |
3662 |
4101 |
| d) |
Employee Benefits Expense |
427 |
403 |
382 |
1629 |
1419 |
| e) |
Finance Costs |
79 |
38 |
151 |
268 |
347 |
| f) |
Depreciation and Amortisation Expense |
190 |
173 |
148 |
739 |
593 |
| g) |
Other Expenses |
209 |
482 |
375 |
1519 |
1212 |
|
Total Expenses |
5303 |
6593 |
7497 |
27917 |
17463 |
| 3. |
Profit/ (Loss) before Exceptional items and taxes |
1072 |
514 |
856 |
3536 |
1333 |
| 4. |
Exceptional Items - (Gain) / Loss [Note 5] |
(53) |
- |
133 |
(53) |
133 |
| 5. |
Profit/(Loss) Before Tax (3-4) |
1125 |
514 |
723 |
3589 |
1200 |
| 6. |
Tax Expenses |
|
|
|
|
|
|
Current Tax |
200 |
50 |
150 |
533 |
198 |
|
Deferred Tax |
15 |
(361) |
96 |
(38) |
159 |
|
Total Tax Expenses |
215 |
(311) |
246 |
495 |
357 |
| 7. |
Profit/(Loss) for the period (5-6) |
910 |
825 |
477 |
3094 |
843 |
| 8. |
Other Comprehensive Income(OCI) |
|
|
|
|
|
|
i. Item that will not be reclassified to profit or loss |
|
|
|
|
|
|
a. Effect of measuring Investments at fair value |
(5753) |
(3381) |
(2094) |
(7371) |
1237 |
|
b. Actuarial gain on employee defined benefit obligation |
(53) |
- |
6 |
(53) |
6 |
|
ii. Income tax relating to items that will not be reclassified to |
|
|
|
|
|
|
profit or loss |
15 |
- |
77 |
15 |
(2) |
|
Total OCI |
(5791) |
(3381) |
(2011) |
(7409) |
1241 |
| 9. |
Total Comprehensive Income for the period (7+8) |
(4881) |
(2556) |
(1534) |
(4315) |
2084 |
| 10. |
Earnings Per Share (Face Value :
Rs.10/- per share) |
|
|
|
|
|
|
A)Basic(Rs.) |
10.58 |
9.59 |
5.55 |
35.98 |
9.80 |
|
B)Diluted(Rs.) |
10.58 |
9.59 |
5.55 |
35.98 |
9.80 |
| 11 |
Paid up Equity Share Capital
(Face Value : Rs.10/- per share) |
860 |
860 |
860 |
860 |
860 |
| 12. |
Other Equity (excluding Revaluation Reserve) as at balance sheet date |
- |
- |
- |
23886 |
28408 |
Segment wise Revenue, Results and Capital Employed (Audited) |
|
Particulars |
3 Months Ended 31.03.2020 (Audited) |
3 Months Ended 31.12.2019 (Unaudited) |
3 Months Ended 31.03.2019 (Audited) |
Year Ended 31.03.2020 (Audited) |
Year Ended 31.03.2019 (Audited) |
|---|
| 1. |
Segment Revenue |
|
|
|
|
|
|
a) Sugar |
5660 |
6814 |
7069 |
27587 |
14246 |
|
b) Co-generation |
2367 |
1267 |
2997 |
9427 |
8854 |
|
Sub total |
8027 |
8081 |
10066 |
37014 |
23100 |
|
Less:Intersegmental Revenue |
1683 |
981 |
1733 |
5965 |
4616 |
|
Sales / Income From Operations |
6344 |
7100 |
8333 |
31049 |
18484 |
| 2. |
Segment Results |
|
|
|
|
|
|
Profit/(Loss) before Tax and Interest |
|
|
|
|
|
|
from each segment |
|
|
|
|
|
|
a) Sugar |
683 |
621 |
341 |
2040 |
(72) |
|
b) Co-generation |
560 |
88 |
614 |
1811 |
1718 |
|
Sub total |
1243 |
709 |
955 |
3851 |
1646 |
|
Less: |
|
|
|
|
|
|
a) Finance Costs |
79 |
38 |
151 |
268 |
347 |
|
b) Other Unallocable expenditure/(income) |
39 |
157 |
81 |
(6) |
99 |
|
Total Profit/(Loss) Before Tax |
1125 |
514 |
723 |
3589 |
1200 |
| 3. |
Segment Assets |
|
|
|
|
|
|
a) Sugar |
7852 |
6413 |
10429 |
7852 |
10429 |
|
b) Co-generation |
14128 |
13096 |
11448 |
14128 |
11448 |
|
c) Unallocable |
9546 |
15947 |
17203 |
9546 |
17203 |
|
Total |
31526 |
35456 |
39080 |
31526 |
39080 |
| 4. |
Segment Liabilities |
|
|
|
|
|
|
a) Sugar |
3778 |
3293 |
5072 |
3778 |
5072 |
|
b) Co-generation |
141 |
254 |
329 |
141 |
329 |
|
c) Unallocable |
2861 |
2282 |
4411 |
2861 |
4411 |
|
Total |
6780 |
5829 |
9812 |
6780 |
9812 |
Statement of Assets and Liabilities (Audited) |
|
Particulars |
As at 31.03.2020 |
As at 31.12.2019 |
|---|
| A |
ASSETS |
|
|
| 1. |
Non-Current Assets |
|
|
|
(a) Property, Plant and Equipment |
10929 |
11413 |
|
(b) Capital Work-in-Progress |
18 |
11 |
|
(c) Intangible Assets |
3 |
4 |
|
(d) Financial Assets |
|
|
|
(i) Investments |
9481 |
16852 |
|
(ii) Other financial assets |
27 |
28 |
|
(e) Other Non-Current Assets |
8 |
41 |
|
Total Non-Current Assets |
20466 |
28349 |
| 2. |
Current Assets |
|
|
|
(a) Inventories |
3773 |
6402 |
|
(b) Financial Assets |
|
|
|
(i) Trade Receivables |
6945 |
3806 |
|
(ii) Cash and Cash Equivalents |
44 |
331 |
|
(iii) Bank balances other than (ii) above |
21 |
20 |
|
(c) Other Current Assets |
277 |
172 |
|
Total Current Assets |
11060 |
10731 |
|
TOTAL ASSETS |
31526 |
39080 |
| B |
EQUITY AND LIABILITIES |
|
|
|
Equity |
|
|
|
(a) Equity Share Capital |
860 |
860 |
|
(b) Other Equity |
23886 |
28408 |
|
Total Equity |
24746 |
29268 |
|
Liabilities |
|
|
| 1. |
Non-Current Liabilities |
|
|
|
(a) Financial Liabilities |
|
|
|
(i) Borrowings |
356 |
- |
|
(b) Deferred Tax Liabilities (Net) |
260 |
313 |
|
(c) Provisions |
559 |
576 |
|
Total Non-Current Liabilities |
1175 |
889 |
| 2. |
Current Liabilities |
|
|
|
(a) Financial Liabilities |
|
|
|
(i) Borrowings |
1357 |
3487 |
|
(ii) Trade Payables |
|
|
|
- Micro and Small enterprises |
36 |
13 |
|
- Others |
2734 |
3615 |
|
(iii) Other Financial Liabilities |
443 |
109 |
|
(b) Other Current Liabilities |
959 |
1684 |
|
(c) Provisions |
76 |
2 |
|
(d) Current Tax Liabilities (Net) |
- |
13 |
|
Total Current Liabilities |
5605 |
8923 |
|
TOTAL EQUITY AND LIABILITIES |
31526 |
39080 |
Statement of Cash flows |
|
Particulars |
Year Ended 31.03.2020(Audited) |
Year Ended 31.03.2019(Audited) |
|---|
| A. |
Cash flow from Operating Activities: |
|
|
|
Profit before tax |
3589 |
1200 |
|
Adjustments for: |
|
|
|
Depreciation |
739 |
593 |
|
Interest |
253 |
324 |
|
Dividend |
(354) |
(265) |
|
Remeasurement of defined benefit plan |
(53) |
6 |
|
Others |
13 |
1 |
|
Operating Profit before working capital changes |
4187 |
1859 |
|
Adjustments for: |
|
|
|
Trade and Other Receivables |
(3211) |
(1967) |
|
Inventories |
2629 |
(3271) |
|
Trade and other payables |
(1481) |
1274 |
|
Cash generated from operations |
2124 |
(2105) |
|
Direct Tax paid net of refund |
(563) |
(134) |
|
Net cash from operating activities (A) |
1561 |
(2239) |
| B. |
Cash flow from Investing Activities: |
|
|
|
Purchase / Acquisition of fixed assets |
(279) |
(64) |
|
Value of discarded assets |
(9) |
(1) |
|
Sale of Fixed Assets |
14 |
1 |
|
Interest received |
15 |
23 |
|
Dividend received |
354 |
265 |
|
Net cash used in investing activities (B) |
95 |
224 |
| C. |
Cash flow from Financing Activities: |
|
|
|
Term Loan availed |
906 |
- |
|
Term Loan repaid |
(250) |
(574) |
|
Working Capital Loan |
(1130) |
2336 |
|
Short term loan |
(1000) |
1000 |
|
Interest Paid |
(262) |
(345) |
|
Dividend plus Tax paid |
(207) |
(103) |
|
Net cash used in financing activities ( C ) |
(1943) |
2314 |
|
Net increase in cash and cash equivalents (A+B+C) |
(287) |
299 |
|
Cash and cash equivalents at the beginning |
331 |
32 |
|
Cash and cash equivalents at the end |
44 |
331 |
Notes :
1. The Board has recommended a dividend of
Rs.4 per Equity Share of Rs.10/- for FY 2019-20.
2. Sugar production being seasonal, performance of one quarter is not indicative of the trend for the 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. Figures for the previous period have been regrouped wherever necessary.
5. Exceptional items comprise of: (Rs. in Lakhs) Quarter ended Year ended
31-03-2020
- Write back under Indirect taxes settlement scheme (53) (53)
6. Undue delay in realising dues pertaining to power sales continues to strain liquidity and credit rating.
7. Production operations remained shut between 25-03-2020 and 21-04-2020 due to Covid-19 induced lockdown and consequent disruption. This pushed tail end crushing to summer months, depressing sugar recovery. The Company incurs higher compliance cost to conform to SOPs under Covid Guidelines. Sugar prices face bearish pressures under adverse market. All these have a negative financial impact on the Company the extent of which is not readily quantifiable. The Company however is hopeful of weathering these challenges.
8. The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at the respective meetings held on 29th May 2020.
For Ponni Sugars (Erode) Ltd
Chennai
N Ramanathan
29.05.2020
Managing Director
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