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Statement of audited Financial Results for the Quarter and year ended 30.09.2020

(Rs.Lakhs)

Particulars 3 Months Ended 30.09.2020 (Unaudited) 3 Months Ended 30.06.2020 (Unaudited) 3 Months Ended 30.09.2019 (Unaudited) 6 Months Ended 30.09.2020 (Unaudited) 6 Months Ended 30.09.2019 (Unaudited)  Year Ended 31.03.2020 (Audited)
1. Income
a) Revenue from Operations 7769 6146 10852 13915 17605 31049
b) Other Income 408 54 362 462 366 404
Total Income 8177 6200 11214 14377 17971 31453
2. Expenses
a) Cost of Materials Consumed 7795 1312 7703 9107 9427 17547
b) Changes in Inventories of Finished Goods and Work-in- progress (2675) 3137 (1044) 462 2154 2553
c) Power & Fuel 813 407 1418 1220 2286 3662
d) Employee Benefits Expense 438 448 407 886 799 1629
e) Finance Costs 12 35 54 47 151 268
f) Depreciation and Amortisation Expense 150 152 227 302 376 739
g) Other Expenses 371 177 579 548 828 1519
Total Expenses 6904 5668 9344 12572 16021 27917
3. Profit/ (Loss) before Exceptional items and taxes 1273 532 1870 1805 1950 3536
4. Exceptional Items - (Gain) / Loss 0 0 0 0 0 (53)
5. Profit/(Loss) Before Tax (3-4) 1273 532 1870 1805 1950 3589
6. Tax Expenses
Current Tax 222 93 267 315 283 533
Deferred Tax (156) (65) 294 (221) 308 (38)
Total Tax Expenses 66 28 561 94 591 495
7. Profit/(Loss) for the period (5-6) 1207 504 1309 1711 1359 3094
8. Other Comprehensive Income(OCI)
i. Item that will not be reclassified to profit or loss
a. Effect of measuring Investments at fair value (1727) 4717 2169 2990 1763 (7371)
b. Actuarial gain on employee defined benefit obligation 0 0 0 0 0 (53)
ii. Income tax relating to items that will not be reclassified to
profit or loss 0 0 0 0 0 15
Total OCI (1727) 4717 2169 2990 1763 (7409)
9. Total Comprehensive Income for the period (7+8) (520) 5221 3478 4701 3122 (4315)
10. Earnings Per Share (Face Value : `10/- per share)
A)Basic(Rs.) 14.03 5.86 15.22 19.90 15.80 35.98
B)Diluted(Rs.) 14.03 5.86 15.22 19.90 15.80 35.98
11 Paid up Equity Share Capital (Face Value : `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 23886

 

Segment wise Revenue, Results and Capital Employed (Unaudited)

Particulars 3 Months Ended 30.09.2020 (Unaudited) 3 Months Ended 30.06.2020 (Unaudited) 3 Months Ended 30.09.2019 (Unaudited) 6 Months Ended 30.09.2020 (Unaudited) 6 Months Ended 30.09.2019 (Unaudited)  Year Ended 31.03.2020 (Audited)
1 Segment Revenue
a) Sugar 7139 5816 9430 12955 15113 27587
b) Co-generation 3204 798 4114 4002 5793 9427
Sub total 10343 6614 13544 16957 20906 37014
Less:Intersegmental Revenue 2574 468 2692 3042 3301 5965
Sales/Income From Operations 7769 6146 10852 13915 17605 31049
2 Segment Results
Profit/(Loss) before Tax and Interest from each Segment
a) Sugar 151 554 822 705 736 2040
b) Co-generation 822 44 1078 866 1418 1811
Sub total 973 598 1900 1571 2154 3851
Less:
a) Finance Costs 12 35 54 47 151 268
b) Other Unallocable expenditure/(income) (312) 31 (24) (281) 53 (6)
Total Profit/(Loss) Before Tax 1273 532 1870 1805 1950 3589
3 Segment Assets
a) Sugar 7406 4853 8230 7406 8230 7852
b) Co-generation 11326 10009 13121 11326 13121 14128
c) Unallocable 15247 18079 18765 15247 18765 9546
Total 33979 32941 40116 33979 40116 31526
4 Segment Liabilities
a) Sugar 3976 1977 4933 3976 4933 3778
b) Co-generation 167 159 211 167 211 141
c) Unallocable 733 838 2789 733 2789 2861
Total 4876 2974 7933 4876 7933 6780

 

Statement of Assets and Liabilities (Audited)

Particulars As at 30.09.2020 (Unaudited) As at 31.03.2020 (Audited)
A ASSETS
Non-Current Assets
(a) Property, Plant and Equipment 10673 10929
(b) Capital Work-in-Progress 22 18
(c) Intangible Assets 2 3
(d) Financial Assets
(i) Investments 12471 9481
(ii) Other financial assets 22 27
(e) Other Non-Current Assets 28 8
Total Non-Current Assets 23218 20466
Current Assets
(a) Inventories 3478 3773
(b) Financial Assets
(i) Trade Receivables 4236 6945
(ii) Cash and Cash Equivalents 482 44
(iii) Bank balances other than (ii) above 2294 21
(iv) Other Financial Assets 24 0
(c) Other Current Assets 247 277
Total Current Assets 10761 11060
TOTAL ASSETS 33979 31526
B EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital 860 860
(b) Other Equity 28243 23886
Total Equity 29103 24746
Liabilities
2 (i) Non-Current Liabilities
(a) Financial Liabilities
(i) Borrowings 0 356
(b) Deferred Tax Liabilities (Net) 39 260
(c ) Provisions 665 559
Total Non-Current Liabilities 704 1175
2 (ii) Current Liabilities
(a) Financial Liabilities
(i) Borrowings 0 1357
(ii) Trade Payables
- Micro and Small enterprises 36 36
- Others 3337 2734
(iii) Other Financial Liabilities 129 443
(b) Other Current Liabilities 628 959
(c) Provisions 42 76
Total Current Liabilities 4172 5605
TOTAL EQUITY AND LIABILITIES 33979 31526

 

Statement of Cash flows

Particulars 6 Months Ended 30.09.2020(Unaudited) 6 Months Ended 30.09.2019(Unaudited) Year Ended 31.03.2020(Audited)
A. Cash flow from Operating Activities:
Profit before tax 1805 1950 3589
Adjustments for:
Depreciation 302 376 739
Interest (25) 147 253
Dividend (354) (353) (354)
Remeasurement of defined benefit plan 0 0 (53)
Others 1 (1) 13
Operating Profit before working capital changes 1729 2119 4187
Adjustments for:
Trade and Other Receivables 427 (1987) (3211)
Inventories 295 2215 2629
Trade and other payables 232 (912) (1481)
Cash generated from operations 2683 1435 2124
Direct Tax paid net of refund (209) (238) (563)
Net cash from operating activities (A) 2474 1197 1561
B. Cash flow from Investing Activities:
Purchase / Acquisition of fixed assets (56) (76) (279)
Value of discarded assets (9)
Sale of Fixed Assets 6 3 14
Interest received 72 4 15
Dividend received 354 353 354
Net cash used in investing activities (B) 376 284 95
C. Cash flow from Financing Activities:
Term Loan availed 0 0 906
Term Loan repaid (656) (100) (250)
Working Capital Loan (1357) (2127) (1130)
Short term/Soft loan 0 906 (1000)
Interest Paid (55) (150) (262)
Dividend plus Tax paid (344) (207) (207)
Net cash used in financing activities ( C ) (2412) (1678) (1943)
Net increase in cash and cash equivalents (A+B+C) 438 (197) (287)
Cash and cash equivalents at the beginning 44 331 331
Cash and cash equivalents at the end 482 134 44

Notes :

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

2. The company distributed on 25-08-2020 the dividend for FY 2019-2020 at Rs.4 (Rupees Four) per Equity Share declared at the 24th Annual Genereal Meeting.

3. The Company is engaged in the manufacture of an essential item. Its operations, including production and sales, are near normal despite Covid-19 induced restrictions. There is no significant impact of Covid-19 for the Company as assessed by the Management.

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

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

6. The above unaudited financial results were reviewed by the Audit Committee at the meeting held on 05th November 2020 and approved by the Board of Directors at the meeting held on 06th November 2020. The statutory auditors have conducted a limited review of the financial results.
                                                                                                                                      For Ponni Sugars (Erode) Ltd

Chennai                                                                                                                                             N Ramanathan
06.11.2020                                                                                                                                   Managing Director