| |
Unaudited Financial Results for the Quarter
ended on 31ST December, 2009
(Rs. Lacs)
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Sl
|
Particulars
|
Quarter
ended |
Year
ended
|
|
December
2009 (Unaudited) |
December
2008 (Unaudited) |
September
30, 2009 (Audited)
|
| 1 |
Gross Turnover |
17,026.96 |
12,846.74 |
48,461.27 |
| |
Less: excise duty |
511.26 |
621.86 |
2,273.71 |
| |
a) Net Sales/Income from Operation |
16,515.70 |
12,224.88 |
46,187.56 |
| |
b) Other Operating Income |
- |
- |
- |
| 2 |
Expenditure |
|
|
|
| |
a) (Increase)/Decrease in stock (net of excise duty) |
(2,876.56) |
(2,728.91) |
8,623.63 |
| |
b) Consumption of Raw Material, Packing Material & Chemicals |
12,871.82 |
10,602.81 |
20,124.67 |
| |
c) Employees Cost |
731.24 |
627.97 |
2,858.38 |
| |
d) Depreciation |
799.24 |
886.80 |
3,295.50 |
| |
e) Other Expenditure |
810.78 |
751.57 |
2,137.56 |
| |
g) Total |
12,336.52 |
10,140.24 |
37,039.74 |
| 3 |
Profit from Operations before other Income, Interest & Exceptional items |
4,179.18 |
2,084.64 |
9,147.82 |
| 4 |
Other Income |
23.35 |
16.65 |
154.52 |
| 5 |
Profit before Interest & Exceptional Items |
4,202.53 |
2,101.29 |
9,302.34 |
| 6 |
Interest |
858.85 |
1,641.41 |
6,164.42 |
| 7 |
Profit after Interest but before depreciation & Tax |
3,343.68 |
459.88 |
3,137.92 |
| 8 |
Exceptional Items |
- |
- |
- |
| 9 |
Profit/ (Loss) from ordinary before tax |
3,343.68 |
459.88 |
3,137.92 |
| 10 |
Tax expenses |
|
|
|
| |
- Current Year |
- |
- |
(125.27) |
| |
- Previous Year |
- |
- |
(5.38) |
| |
- Fringe Benefit Tax |
- |
3.20 |
4.24 |
| |
- Deferred Tax |
- |
- |
756.67 |
| 11 |
Net Profit/ (Loss) form Ordinary Activities after tax |
3,343.68 |
456.68 |
2,507.66 |
| 12 |
Extraordinary item (net of tax expense Rs-) |
- |
- |
- |
| 13 |
Net Profit/ (Loss) for the period |
3,343.68 |
456.68 |
2,507.66 |
| 14 |
Paid up Equity Share capital (Face value of Rs.10/-each) |
1,631.47 |
1,631.47 |
1,631.47 |
| 15 |
Reserve excluding Revaluation Reserve as per balance sheet of previous accounting year |
|
|
12,607.78 |
| 16 |
Earning Per Share (EPS) |
|
|
|
| |
a. Basic & Diluted EPS before Extra Ordinary Items
(Rs.) (not annualised) |
20.49 /
20.49 |
2.80 /
2.68 |
14.42 / 14.20 |
| |
b. Basic & Diluted EPS after Extra Ordinary Items
(Rs.) (not annualised) |
20.49 /
20.49 |
2.80 /
2.68 |
14.42 / 14.20 |
| 17 |
Public Shareholding |
|
|
|
| |
- Number of Shares |
8,481,999 |
8,528,413 |
8,481,999 |
| |
- Percentage of shareholding |
51.99% |
52.27% |
51.99% |
| 18 |
Promoters & Promoter group shareholding |
|
|
|
| |
a)
Pledqed/Encumbered |
|
|
|
| |
- Number of Shares |
- |
- |
- |
| |
shareholding of Promoter and Promoter
group) |
- |
- |
- |
| |
share capital of the company) |
- |
- |
- |
| |
b) Non- encumbered |
|
|
|
| |
- Number of Shares |
7,832,677 |
7,786,263 |
7,832,677 |
| |
- Percentage of shareholding (as a % of the total shareholding of Promoter and Promoter
group) |
100% |
100% |
100% |
| |
- Percentage of shareholding (as a % of the total share capital of the company) |
48.01% |
47.23% |
48.01% |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. Lacs)
|
Sl
|
Particulars
|
Quarter
ended |
Year
ended |
|
December
2009 (Unaudited) |
December
2008 (Unaudited) |
September
30, 2009 Audited |
| 1 |
Segment Revenue |
|
|
|
| a) |
Sugar |
14,922.94 |
10,959.42 |
43,713.85 |
| b) |
Co Generation |
2,454.11 |
2,073.45 |
3,766.38 |
| c) |
Distillery |
- |
77.33 |
773.56 |
| |
Total |
17,377.05 |
13,110.20 |
48,253.79 |
| |
Less: Inter Segment Revenue |
|
|
|
| |
Segment-Co Generation |
822.04 |
712.58 |
1,532.17 |
| |
Sugar |
39.31 |
172.74 |
534.06 |
| |
Net sales/Income from Operation |
16,515.70 |
12,224.88 |
46,187.56 |
| 2 |
Segment Results
(Profit) (+)/Loss(-) before tax and interest form Each segment)* |
|
|
|
| a) |
Segment- Sugar |
2,531.18 |
541.14 |
6,916.73 |
| b) |
Segment- Co Generation |
1,691.19 |
1,522.00 |
2,346.13 |
| c) |
Distillery |
(19.84) |
38.15 |
39.48 |
| |
Total |
4,202.53 |
2,101.29 |
9,302.34 |
| |
Less: Interest |
858.85 |
1,641.41 |
6,164.42 |
| |
: Other Un-allocable Expenditure net off un-allocable Income |
- |
- |
- |
| |
Total Profit Before Tax |
3,343.68 |
459.88 |
3,137.92 |
| 3 |
Capital Employed
(segment assets- segment Liabilities) |
|
|
|
| a) |
Sugar |
48,669.87 |
58,548.72 |
49,564.97 |
| b) |
Co Generation |
12,949.54 |
13,192.58 |
11,477.95 |
| c) |
Distillery |
1,458.91 |
1,621.66 |
1,403.58 |
| |
Total |
63,078.32 |
73,362.96 |
62,446.50 |
The Company does not have any exports, hence reporting on Secondary segment does not arise.
Notes:
1. The above financial results were approved in the meeting of the Board of Directors held on 30th January, 2010 after being reviewed and recommended by the Audit
Committee. The results have been subjected to limited review by the company's statutory auditors
2. The Company, in compliance of the interim order passed by the Hon'ble High Court of Allahabad (Lucknow Bench) on the 15th November'2007, has paid a price of Rs.110/- per quintal and accordingly accounted for the liability for sugar season 07-08. However, The High Court of Allahabad, by a subsequent order dated 7th July'2008, upheld the validity of SAP of Rs 125/- per quintal announced by the State Government. Aggrieved by the said order, the UPSMA filed SLP with Hon’ble Supreme Court of India. Hon'ble Supreme Court, in the interim, upheld the earlier interim order of Hon'ble Allahabad High Court (Lucknow Bench) in that the sugar cane purchased by the sugar mills would continue to be paid for @ Rs 110/- per quintal. In view of the above differential liability, if any, will be accounted as and when the matter is finally settled. However, for season 2008-09 and 2009-10 the company has paid and accounted for the cane price at SAP announced by the State Government.
3. Sugar being a seasonal industry, the performance of any quarter may not be representative of the annual performance of the
company. The provision for tax and deferred tax , if any, will therefore be made at the end of financial year and accounting year.
4. There were no investors complaints pending at the beginning of the quarter, no complaint was received during the quarter and there are no complaints outstanding at the end of the quarter.
5. Previous period figures have been regrouped and reclassified wherever necessary, for the purpose of comparison.
Place: New Delhi
Gautam R. Morarka
Date: 30th January, 2010 Chairman & Managing Director
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