| |
DWARIKESH SUGAR INDUSTRIES LIMITED
(Registered Office : Dwarikesh Nagar-
246 762, District Bijnor, Uttar Pradesh)
STANDALONE AUDITED FINANCIAL RESULTS FOR
THE QUARTER AND HALF YEAR ENDED 31ST MARCH, 2010
(Rs. Lacs)
|
Sl
|
Particulars
|
Quarter
ended |
Half
Year ended |
Year
ended |
|
March
2010 (Audited) |
March
2009 (Audited) |
March
2010 (Audited) |
March
2009 (Audited) |
September
30, 2009 (Audited) |
|
1 |
Gross Turnover |
16,523.07 |
9,608.90 |
33,550.03 |
22,455.64 |
48,461.27 |
| |
Less: excise duty |
589.80 |
496.39 |
1,101.06 |
1,118.25 |
2,273.71 |
| |
a) Net Sales/Income from Operation |
15,933.27 |
9,112.51 |
32,448.97 |
21,337.39 |
46,187.56 |
| |
b) Other Operating Income |
- |
- |
- |
- |
- |
|
2 |
Expenditure |
|
|
|
|
|
| |
a) (Increase)/Decrease in stock (net of excise duty) |
(19,779.97) |
(4,318.80) |
(22,656.53) |
(7,047.71) |
8,623.63 |
| |
b) Consumption of Raw Material, Packing Material & Chemicals |
33,560.05 |
9,028.76 |
46,431.87 |
19,631.57 |
20,124.67 |
| |
c) Employees Cost |
994.63 |
794.59 |
1,725.87 |
1,422.56 |
2,858.38 |
| |
d) Depreciation |
801.50 |
810.17 |
1,600.74 |
1,696.97 |
3,295.50 |
| |
e) Other Expenditure |
1,218.43 |
514.47 |
2,029.21 |
1,266.04 |
2,137.56 |
| |
g) Total |
16,794.64 |
6,829.19 |
29,131.16 |
16,969.43 |
37,039.74 |
|
3 |
Profit from Operations before other Income, Interest & Exceptional items |
(861.37) |
2,283.32 |
3,317.81 |
4,367.96 |
9,147.82 |
|
4 |
Other Income |
54.98 |
58.95 |
78.33 |
75.60 |
154.52 |
|
5 |
Profit before Interest & Exceptional Items |
(806.39) |
2,342.27 |
3,396.14 |
4,443.56 |
9,302.34 |
|
6 |
Interest |
1,130.53 |
1,772.55 |
1,989.38 |
3,413.96 |
6,164.42 |
|
7 |
Profit after Interest but before depreciation & Tax |
(1,936.92) |
569.72 |
1,406.76 |
1,029.60 |
3,137.92 |
|
8 |
Exceptional Items |
- |
- |
- |
- |
- |
|
9 |
Profit/ (Loss) from ordinary before tax |
(1,936.92) |
569.72 |
1,406.76 |
1,029.60 |
3,137.92 |
|
10 |
Tax expenses |
|
|
|
|
|
| |
- Current Year
(Net of Mat credit entitlement) |
13.75 |
3.02 |
13.75 |
3.02 |
(125.27) |
| |
- Previous Year |
1.06 |
(8.29) |
1.06 |
(8.29) |
(5.38) |
| |
- Fringe Benefit Tax |
- |
2.84 |
- |
6.04 |
4.24 |
| |
- Deferred Tax |
356.36 |
(191.45) |
356.36 |
(191.45) |
756.67 |
|
11 |
Net Profit/ (Loss) form Ordinary Activities after tax |
(2,308.09) |
763.60 |
1,035.59 |
1,220.28 |
2,507.66 |
|
12 |
Extraordinary item (net of tax expense Rs-) |
- |
- |
- |
- |
- |
|
13 |
Net Profit/ (Loss) for the period |
(2,308.09) |
763.60 |
1,035.59 |
1,220.28 |
2,507.66 |
|
14 |
Paid up Equity Share capital (Face value of Rs.10/-each) |
1,631.47 |
1,631.47 |
1,631.47 |
1,631.47 |
1,631.47 |
|
15 |
Reserve excluding Revaluation Reserve as per balance sheet of previous accounting year |
13,643.37 |
11,858.52 |
13,643.37 |
11,858.52 |
12,607.78 |
|
16 |
Earning Per Share (EPS) |
|
|
|
|
|
| |
a. Basic & Diluted EPS before Extra Ordinary Items
(Rs.) (not annuallsed) |
(14.15) /
(14.15) |
4.68 /
4.61 |
6.35 /
6.35 |
7.48 /
7.26 |
14.42 / 14.20 |
| |
b. Basic & Diluted EPS after
(Rs.) (not annuallsed) |
(14.15) /
(14.15) |
4.68 /
4.61 |
6.35 /
6.35 |
7.48 /
7.26 |
14.42 / 14.20 |
|
17 |
Public Shareholding |
|
|
|
|
|
| |
- Number of Shares |
8,481,499 |
8,481,999 |
8,481,499 |
8,481,999 |
8,481,999 |
| |
- Percentage of shareholding |
51.99% |
51.99% |
51.99% |
51.99% |
51.99% |
|
18 |
Promoters & Promoter group shareholding |
|
|
|
|
|
| |
a)
Pledqed/Encumbered |
|
|
|
|
|
| |
- Number of Shares |
- |
- |
- |
- |
- |
| |
- Percentage of shareholding (as a % of the total shareholding of Promoter and Promoter group) |
- |
- |
- |
- |
- |
| |
- Percentage of shareholding (as a % of the total share capital of the company) |
- |
- |
- |
- |
- |
| |
b) Non- encumbered |
|
|
|
|
|
| |
- Number of Shares |
7,833,177 |
7,832,677 |
7,833,177 |
7,832,677 |
7,832,677 |
| |
- Percentage of shareholding (as a % of the total shareholding of Promoter and Promoter group) |
100% |
100% |
100% |
100% |
100% |
| |
- Percentage of shareholding (as a % of the total share capital of the company) |
48.01% |
48.01% |
48.01% |
48.01% |
48.01% |
STANDALONE
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. Lacs)
|
Sl
|
Particulars
|
Quarter
ended |
Half
Year
ended |
Year
ended |
|
March
2010 Audited |
March
2009 Audited |
March
2010 Audited |
March
2009 Audited |
September
30, 2009 (Audited) |
|
1 |
Segment Revenue |
|
|
|
|
|
|
a) |
Sugar |
12,530.70 |
8,413.34 |
27,453.64 |
19,372.76 |
43,713.85
|
|
b) |
Co Generation |
5,399.13 |
1,681.66 |
7,853.24 |
3,755.10 |
3,766.38 |
|
c) |
Distillery |
160.65 |
155.91 |
160.65 |
233.24 |
773.56 |
| |
Total |
18,090.48 |
10,250.91 |
35,467.53 |
23,361.10 |
48,253.79 |
| |
Less: Inter Segment Revenue |
|
|
|
|
|
| |
Segment-Co Generation |
1,900.33 |
819.60 |
2,722.37 |
1,532.17 |
1,532.17 |
| |
Sugar |
256.88 |
318.80 |
296.19 |
491.54 |
534.06 |
| |
Net sales/Income from Operation |
15,933.27 |
9,112.51 |
32,488.97 |
21,337.39 |
46,187.56 |
|
2 |
Segment Results
(Profit) (+)/Loss(-) before tax and interest form Each segment)* |
|
|
|
|
|
|
a) |
Segment- Sugar |
(4,877.13) |
1,082.27 |
(2,345.95) |
1,623.41 |
6,916.73 |
|
b) |
Segment- Co Generation |
4,063.41 |
1,255.46 |
5,754.60 |
2,777.46 |
2,346.13 |
|
c) |
Distillery |
7.33 |
4.54 |
(12.51) |
42.69 |
39.48 |
| |
Total |
(806.39) |
2,342.27 |
3,396.14 |
4,443.56 |
9,302.34 |
| |
Less: Interest |
1,130.53 |
1,772.55 |
1,989.38 |
3,413.96 |
6,164.42 |
| |
: Other Un-allocable Expenditure net off un-allocable Income |
- |
- |
- |
- |
- |
| |
Total Profit Before Tax |
(1,936.92) |
569.72 |
1,406.76 |
1,029.60 |
3,137.92 |
|
3 |
Capital Employed
(segment assets- segment Liabilities) |
|
|
|
|
|
|
a) |
Sugar |
45,794.16 |
61,147.77 |
45,794.16 |
61,147.77 |
49,564.97 |
|
b) |
Co Generation |
13,607.97 |
12,153.87 |
13,607.97 |
12,153.87 |
11,477.95 |
|
c) |
Distillery |
1,607.27 |
1,877.37 |
1,607.27 |
1,877.37 |
1,403.58 |
| |
Total |
61,009.40 |
75,179.01 |
61,009.40 |
75,179.01 |
62,446.50 |
The Company does not have any exports, hence reporting on Secondary segment does not arise.
Notes:
1. The above audited financial
results were approved in the meeting of the Board of
Directors held on 4th May, 2010 after being reviewed and
recommended by the Audit Committee.
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, the company has paid and accounted for the
cane price at SAP announced by the State Government."
3. Given the seasonal nature of the Industry, the results of
any quarter may not be a true and / or proportionate
reflection of the annual performance of the Company.
4. There were no investors complaints pending at the
beginning of the quarter, four complaints were received and
disposed off 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: 4th May, 2010 Chairman & Managing Director
|
|
