STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31st MARCH, 2015

Transcription

1 STATEMENT OF AUDITED FINANCIAL RESULTS 1. Income from Operations (a) Net Sales / Income from operations (Net of excise duty) 17, , , , , (b) Other Operating Income Total income from Operations (Net) 18, , , , , Expenses (a) Cost of materials consumed 38, , , , , (b) Other Manufacturing Expenses , , (c) Purchase of Stock in trade , , , (d) Change in inventories of finished goods, work-in-progress and stock-in-trade (26,752.10) (8,652.66) (15,848.67) (5,804.86) 5, (e) Employee benefit expenses 1, , , , , (f) Depreciation & amortisation expense , , (g) Other expenses , , Total Expenses 16, , , , , Profit from operations before other income, finance costs and exceptional items (1-2) 2, (1,184.52) 5, (417.66) 4. Other Income Profit from operations before finance costs and exceptional items (3 + 4) 2, (1,050.08) 5, Finance costs , , Profit from operations after finance costs but before exceptional items (5-6) 1, (1,332.92) 5, (586.36) (2,755.45) 8. Exceptional Items Profit from ordinary activities before tax (7 ± 8) 1, (1,332.92) 5, (586.36) (2,755.45) 10. Tax expense (322.41) (261.31) Profit from ordinary activities after tax (9 ± 10) 2, (1,493.44) 4, (325.05) (2,975.87) 12. Extraordinary items (net of tax expense) Net Profit for the period (11 ± 12) 2, (1,493.44) 4, (325.05) (2,975.87) 14. Paid-up equity share capital (Face Value per Share - Re. 1) 1, , , , , Reserves excluding Revaluation Reserve as per the balance sheet of the previous accounting year 7,532.86

2 STATEMENT OF AUDITED FINANCIAL RESULTS 16.i 16.ii Earnings per share (before extraordinary items) of Re. 1 (not annualised) Rs. Rs. Rs. Rs. Rs. (a) Basic 2.06 (1.33) 3.93 (0.29) (2.65) (b) Diluted 2.06 (1.33) 3.93 (0.29) (2.65) Earnings per share (after extraordinary items) of Re. 1 (not annualised) Rs. Rs. Rs. Rs. Rs. (a) Basic 2.06 (1.33) 3.93 (0.29) (2.65) (b) Diluted 2.06 (1.33) 3.93 (0.29) (2.65) PART II SELECT INFORMATION A PARTICULARS OF SHAREHOLDING 1. Public Shareholding - Number of shares 60,207,056 60,226,438 59,990,451 60,207,056 59,990,451 - Percentage of shareholding 53.52% 53.53% 53.32% 53.52% 53.32% 2. Promoters & Promoter Group Shareholding a) Pledged / Encumbered - Number of shares shareholding of promoter and promoter group) NA NA NA NA NA share capital of the company) NA NA NA NA NA b) Non-encumbered - Number of shares 52,292,944 52,273,562 52,509,549 52,292,944 52,509,549 shareholding of promoter and promoter group) % % % % % share capital of the company) 46.48% 46.47% 46.68% 46.48% 46.68% B INVESTOR COMPLAINTS Pending at the beginning of the quarter Received during the quarter Disposed of during the quarter Remaining unresolved at the end of the quarter NIL 1 1 NIL

3 AUDITED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED 1. Segment Revenue a. Sugar 18, , , , , b. Co-generation 7, , , , , c. Industrial Alcohol 1, , , , , d. Potable Alcohol 1, , , , , Total 29, , , , , Less: Intersegment Revenue 10, , , , , Net Sales / Income from Operations 18, , , , , Segment Results Profit / (Loss) before interest & tax a. Sugar (1,006.04) 4, b. Co-generation 2, , , , c. Industrial Alcohol (55.21) (167.26) (384.29) d. Potable Alcohol , Total 3, (207.58) 6, , , Less: i. Finance Cost , , ii. Other Unallocable Expenditure net of Unallocable Income , , , , , , , Profit / (Loss) before tax 1, (1,332.92) 5, (586.36) (2,755.45) 3. Capital Employed (Segment Assets minus Segment Liabilities) a. Sugar 23, , , , , b. Co-generation 6, , , , , c. Industrial Alcohol 2, , , , , d. Potable Alcohol 1, , , , , e. Others (Unallocated) 1, , , , , Total 35, , , , ,981.33

4 NOTES TO STATEMENTS OF AUDITED FINANCIAL RESULTS, AUDITED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED 1. The main business of the Company being seasonal, the figures of the current period are not indicative of the annual results. 2. Inter-segment Transfers of Bagasse and Molasses, the cost of which is unascertainable, are recorded at net realisable value. Intersegment Transfers of other items are recorded at cost. 3. Cane Crushing Operations for the season concluded on at Ugar and on at Jewargi. 4. Schedule II to the Companies Act, 2013 was implemented with effect from Consequently, with effect from , a) the carrying value of assets is depreciated over their remaining useful lives; b) where the remaining useful life of an asset is Nil as on , carrying value has been adjusted against opening reserves amounting to Rs lakh (net of tax), in accordance with transitional provision of Schedule II; and c) on account of the above change, depreciation expense for the financial year ended is lower by Rs lakh. 5. Disputed Liability in respect of cane price for the season Reference is invited to Note No. 4(a) to the Unaudited Financial Results published for the quarter and nine months ended Sugarcane price fixed under the Karnataka Sugarcane (Regulation of Purchase & Supply) Act, 2013 at Rs. 2,500 per MT, is under challenge before the Hon'ble High Court of Karnataka. Necessary provision, if required, for payment of balance amount aggregating to Rs. 2, lakh over and above the payment of Rs. 2,300 per MT already made in case of Ugar Unit; and Rs. 2, lakh over and above the payment of Rs. 2,000 per MT already made in case of Jewargi Unit, will be made on final resolution of the issue, as the Government has agreed to take action, only by conducting a meeting after April 2015, which is not yet held Figures for the immediately preceding quarter, corresponding periods in the earlier year and for the Previous Accounting Year have been regrouped / recast, where necessary. Figures for the quarter ended are the balancing figures between the audited figures in respect of the full financial year and the published year-to-date figures upto the third quarter of the current financial year. 8. The directors have not recommended any dividend for the year The above results are reviewed by the Audit Committee and were approved and taken on record by the Board of Directors at its meeting held on

5 STATEMENT OF ASSETS AND LIABILITIES Particulars As at As at 31st March st March 2014 A EQUITY & LIABILITIES 1. Shareholders' fund (a) Share capital 1, , (b) Reserves & Surplus 7, , (c) Money Received against share warrants - - Sub-total - Shareholders' Funds 8, , Non-current liabilities (a) Long term borrowings 8, , (b) Deferred tax liabilities (net) 1, , (c) Long term provisions , Sub-total Non-current liabilities 10, , Current liabilities (a) Short term borrowings 10, , (b) Trade payables 23, , (c) Other current liabilities 12, , (d) Short term provisions Sub-total Current liabilities 46, , TOTAL - EQUITY & LIABILITIES 64, , B ASSETS 1. Non-current assets (a) Fixed assets 17, , (b) Non-current investments (c) Deferred tax assets (net) - - (d) Long term loans & advances (e) Other non-current assets Sub-total Non-current assets 18, , Current Assets (a) Inventories 42, , (b) Trade receivables 2, , (c) Cash & cash equivalents , (d) Short term loans and advances , (e) Other current assets Sub-total Current assets 46, , TOTAL - ASSETS 64, , For The Ugar Sugar Works Limited Place: Pune Date: Shishir S. Shirgaokar Executive Vice Chairman