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Statement of Unaudited Financial Results for the Quarter and Nine Months Ended 31.12.2018



(Rs.Lakhs)

Particulars

3 Months Ended 31.12.2018 (Unaudited)

3 Months Ended 30.09.2018 (Unaudited)

3 Months Ended 31.12.2017 (Unaudited)

9 Months Ended 31.12.2018 (Unaudited)

 9 Months  Ended 31.12.2017 (Unaudited)

Year Ended 31.03.2018 (Audited)

1. Income              
(a) Revenue from Operations  4706 3428 4348 10151 17586 19598
(b) Other Income 7 281 58 306 243 280
            Total Income 4713 3709 4406 10457 17829 19878
2. Expenses            
(a)Cost of Materials consumed 2157 5051 17 7425 7808 10675
(b)Changes in Inventories of Finished Goods & Work in progress 1113 (4381) 3433 (2862) 4396 1789
(c) Excise Duty - - - - (161) (161)
(d) Power & Fuel 619 1321 32 2887 1713 2738
(e)Employee Benefits Expense 353 351 340 1037 1059 1413
(f) Finance Costs  98 59 14 196 191 197
(g) Depreciation and Amortisation   Expense 149 148 141 445 424 568
(h) Other Expenses 379 295 258 852 802 1153
           Total Expenses 4868 2844 4235 9980 16232 18372
3.Profit / (Loss)   before  Exceptional Items  and taxes (155) 865 171 477 1597 1506
4. Exceptional Items-Loss - - 665 - 665 1126
5. Profit / (Loss)  Before Tax (3-4) (155) 865 (494) 477 932 380
6. Tax Expenses            
            Current Tax (32) 80 (97) 48 166 46
            Deferred Tax (3) 134 (62) 63 105 -
Total Tax Expenses  (35) 214 (159) 111 271 46
7. Profit/Loss for the period (5-6) (120) 651 (335) 366 661 334
8.Other Comprehensive Income(OCI)                 
 i. Item that will not be reclassified to profit or loss            
 a) Effect of measuring Investments at fair value  (251) 3036 2905 3331 2138 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 28 (107) - (79) - (1)
iii. Item that will be reclassfied to proft or loss            
    Fair value changes on derivatives designated as cash flow hedges(net of tax) - - (7) - - -
Total OCI (223) 2929 2898 3252 2138 1554
9.Total   Comprehensive Income for the period (7+8) (343) 3580 2563 3618 2799 1888
10. Earnings per share (Face Value : Rs 10/- per share)            
        a) Basic  (1.40) 7.57 (3.90) 4.26 7.69 3.88
         b) Diluted  (1.40) 7.57 (3.90) 4.26 7.69 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 Resereve) as shown in the audited balance sheet of the previous year

- - - - - 26427

Segmentwise Revenue,Results and Capital Employed (Unaudited)

  

Particulars                    

3 Months Ended 31.12.2018 (Unaudited)

3 Months Ended 30.09.2018 (Unaudited)

3 Months Ended 31.12.2017 (Unaudited)

9 Months Ended 31.12.2018 (Unaudited)

 9 Months  Ended 31.12.2017 (Unaudited)

Year Ended 31.03.2018 (Audited)

1. Segment Revenue                            
(a) Sugar                4061 2141 4200 7177 16089 17331
(b) Co-generation 1479 3213 148 5857 3778 5960
Sub total 5540 5354 4348 13034 19867 23291
Less: Intersegmental Revenue 834 1926 - 2883 2281 3693
Sales/Income From Operations                 4706 3428 4348 10151 17586 19598
           
2. Segment Results                          
Profit / (Loss) Before Tax and interest from each segment             
(a) Sugar (184) (61) (316) (413) 642 (230)
(b) Co-generation 212 859 (12) 1104 617 1042
Sub total 28 798 (328) 691 1259 812
Less:            
(a) Finance Costs 98 59 14 196 191 197
(b) Other unallocable expenditure/(income) 85 (126) 152 18 136 235
Total Profit / (Loss) Before Tax (155) 865 (494) 477 932 380
           
3. Segment Assets            
(a) Sugar 10390 11310 4828 10390 4828 7426
(b) Co-generation 10917 10594 9799 10917 9799 9742
(c) Unallocable 19006 19390 18120 19006 18120 15668
Total 40313 41294 32747 40313 32747 32836
           
4. Segment Liabilities            
(a) Sugar 3387 4789 2648 3387 2648 3919
(b) Co-generation 289 348 34 289 34 207
(c) Unallocable 5836 5013 1867 5836 1867 1423
Total 9512 10150 4549 9512 4549 5549

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 nine months ended on 31st December
   2018 is not comparable with the previous period.

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. Below par sugarcane availability due to water stress and depressed sugar prices under supply glut continue to pose
    serious challenge to near term profitability. Liquidity is further stressed by undue delay in realizing Power sales.

5. The above unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at
    the respective meetings held on 8th February 2019. The statutory auditors have conducted a limited review of the
    financial results. 

 
 
  For Ponni Sugars (Erode) Ltd
Chennai
08.02.2019

 N Ramanathan
Managing Director
 
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