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Statement of Unaudited Financial Results for the Quarter and Six Months Ended 30.09.2019



(Rs.Lakhs)

Particulars

3 Months Ended 30.09.2019 (Unaudited)

3 Months Ended 30.06.2019 (Unaudited)

3 Months Ended 30.09.2018 (Unaudited)

6 Months Ended 30.09.2019 (Unaudited)

 6 Months  Ended 30.09.2018 (Unaudited)

Year Ended 31.03.2019 (Audited)

1. Income              
(a) Revenue from Operations  10852 6753 3428 17605 5445 18484
(b) Other Income 362 4 270 366 288 312
Total Income 11214 6757 3698 17971 5733 18796
2. Expenses            
(a)Cost of Materials consumed 7703 1724 5051 9427 5268 12934
(b)Changes in Inventories of Finished Goods and Work in progress (1044) 3198 (4381) 2154 (3975) (3143)
(c) Power & Fuel 1418 868 1321 2286 2268 4101
(d)Employee Benefits Expense 407 392 351 799 684 1419
(e) Finance Costs  54 97 59 151  98 347
(f) Depreciation and Amortisation   Expense 227 149 148 376 296 593
(g) Other Expenses 579 249 284 828 462 1212
Total Expenses 9344 6677 2833 16021 5101 17463
3.Profit / (Loss) before  Exceptional Items  and taxes 1870 80 865 1950 632 1333
4. Exceptional Items - Loss - - - - - 133
5. Profit / (Loss)  Before Tax (3-4) 1870 80 865 1950 632 1200
6.Tax Expenses            
             Current Tax  267 16 128 283 80 198
            Deferred Tax 294 14 86 308 66 159
Total Tax Expenses  561 30 214 591 146 357
7. Profit /(Loss) For the Period  
 (5-6)
1309 50 651 1359 486 843
8.Other Comprehensive Income(OCI)                       
 i. Item that will not be reclassified to profit or loss
  a)Effect of measuring Investments at fair value 2169 (406) 3036 1763 3582 1237
  b)Actuarial gain on employee defined benefit obligation - - - - - 6
ii.Income tax relating to items that will not be reclassified to profit or loss - - (107) - (107) (2)
Total OCI 2169(406) 2929 1763 3475 1241
9.Total   Comprehensive Income for the period (7+8) 3478 (356) 3580 3122 3961 2084
10. Earnings per share (Face Value : Rs.10/- per share)
          a) Basic(Rs) 15.22 0.58 7.57 15.80 5.65 9.80
         b) Diluted(Rs.)  15.22 0.58 7.57 15.80 5.65 9.80
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

- - - - - 28408

Segmentwise Revenue,Results and Capital Employed (Unaudited)

  

3 Months Ended 30.09.2019 (Unaudited)

3 Months Ended 30.06.2019 (Unaudited)

3 Months Ended 30.09.2018 (Unaudited)

6 Months Ended 30.09.2019 (Unaudited)

 6 Months  Ended 30.09.2018 (Unaudited)

Year Ended 31.03.2019 (Audited)

1. Segment Revenue            
a) Sugar 9430 5683 2141 15113 3116 14246
(b) Co-generation 4114 1679 3213 5793 4378 8854
Sub total 13544 7362 5354 20906 7494 23100
Less: Intersegmental Revenue 2692 609 1926 3301 2049 4616
Sales/Income From Operations             10852 6753 3428 17605 5445 18484
           
2. Segment Results                  
Profit / (Loss) Before Tax and interest from each segment             
 a) Sugar 822 (86) (61) 736 (229) (72)
(b) Co-generation 1078 340 859 1418 892 1718
Sub total 1900 254 798 2154 663 1646
Less:          
a) Finance Costs 54 97 59 151 98 347
(b) Other unallocable expenditure/(income) (24) 77 (126) 53 (67) 99
Total Profit / (Loss) Before Tax 1870 80 865 1950 632 1200
           
3. Segment Assets            
(a) Sugar 8230 7519 11310 8230 11310 10429
(b) Co-generation 13121 12201 10594 13121 10594 11448
(c) Unallocable 18765 16991 19390 18765 19390 17203
Total 40116 36711 41294 40116 41294 39080
           
4. Segment Liabilities    
(a) Sugar 4933 2851 4789 4933 4789 5072
(b) Co-generation 211 260 348 211 348 329
(c) Unallocable 2789 4688 5013 2789 5013 4411
Total 7933 7799 10150 7933 10150 9812

Statement of Assets and Liabilities


Particulars                    

As at 30.09.2019 (Unaudited)

As at 31.03.2019 (Audited)

A. ASSETS    
1. Non Current Assets    
(a) Property, Plant & Equipment 11079 11413
(b) Capital Work In Progress 44 11
(c) Intangible Assets 3 4
(d) Financial Assets    
    (i) Investments  18615 16852
    (ii) Other Financial Assets  27 28
(e) Other Non Current Assets  57 41
Total Non-Current Assets 29825 28349
2. Current Assets                  
(a) Inventories 4187 6402
(b) Financial Assets    
       (i) Trade Receivables 5741 3806
      (ii) Cash and Cash Equivalents 134 331
     (iii) Bank balances other than (ii) above  16 20
(c) Other Current Assets 213 172
Total Current Assets 10291 10731
TOTAL ASSETS 40116 39080
      
EQUITY AND LIABILITIES    
Equity    
(a) Equity share Capital 860 860
(b) Other Equity  31323 28408
Total Equity 32183 29268
   
B. Liabilities    
1. Non-Current Liabilities     
(a) Financial Liabilities
     (i) Borrowings
506 -
(b) Deffered Tax Liabilities (Net) 621 313
(c) Provisions 621 576
Total Non Current Liabilities 1748 889
      
2. Current Liabilities    
 (a) Financial Liabilities    
        (i) Borrowings 1360 3487
        (ii) Trade Payables    
              -Micro and small enterprises - 13
             -Others 3261 3615
        (iii) Other Financial Liabilities 420 109
 (b) Other Current Liabilities 1139 1684
 (c) Provisions 5 2
(d) Current Tax Liabilities (Net) - 13
Total Current Liabilities 6185 8923
TOTAL EQUITY AND LIABILITIES 40116 39080

Statement of Cash flows

S.No. Particulars 6 Months ended  30.09.2019
(Unadudited)
6 Months ended  30.09.2018
(Unaudited)
Year Ended 31.03.2019
(Audited)
A. Cash Flow from Operating Activities    
  Profit before tax  1950 632 1200
  Adjustments for:       
  Depreciation   376 296 593
   Interest   147 81 324
   Dividend (353) (265) (265)
  Others (1) - 7
  Operating Profit before working capital changes 2119 744 1859
  Adjustments for:      
  Trade and other Receivables (1987) (964) (1967)
  Inventories 2215 (4037) (3271)
  Trade and other payables (912) 1010 1274
  Cash generated from operations 1435 (3247) (2105)
  Direct tax paid net of refund (238) (27) (134)
  Net cash from operating activities (A)  1197 (3274) (2239)
B. Cash flow from Investing Activities:    
  Purchase / Acquisistion of fixed assets (76) (30) (64)
  Value of discarded assets - - (1)
  sale of Fixed Assets 3 - 1
  Interest received 4 17 23
  Dividend received 353 265 265
  Net Cash used in investing activities (B) 284 252 224
C. Cash flow fromFinancing Activities:      
  Term Laon repaid (100) (345) (574)
  Working Capital Loan (2127) 3705 2336
  Short term/Soft loan 906 - 1000
  Interest Paid (150) (93) (345)
  Dividend Plus Tax paid (207) (104) (103)
  Net cash used in financing activities (C) (1678) 3163 2314
   Net increase in cash and cash equivalents (A+B+C) (197) 141 299
  Cash and cash equivalents at the beginning 331 32 32
  Cash and cash equivalents at the end 134 173 331
Notes :
 
1.Sugar production being seasonal, performance of one quarter is not indicative of the trend for the whole year.

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

3. Undue delay in realising dues pertaining to power sales continues to strain the liquidity and credit rating of the Company.

4. The above unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at
    the respective meetings held on 08th November 2019. The statutory auditors have conducted a limited review of the
    financial results.
  For Ponni Sugars (Erode) Ltd
Chennai

08.11.2019

N Ramanathan
Managing Director
 
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