Audited Financial Results for the Quarter and Half year ended on 31ST MARCH., 2008
(Rs. Lacs)
| Sl. No. | Particulars | Quarter Ended March 2008 | Quarter Ended March 2007 | Half Year ended March 2008 | Half Year ended March 2007 | Year ended September 30, 2007 (Audited) | | 1 | Gross Turnover | 9,409.87 | 6,884.32 | 15,977.93 | 13,689.74 | 24,401.53 | | 2 | Net Sales/Income from Operation | 8,664.92 | 6,380.16 | 14,810.49 | 12,785.58 | 22,693.28 | | 3 | Other Income | 7.81 | 43.00 | 10.51 | 67.70 | 118.99 | | 4 | Total Expenditure | 6,193.10 | 5,566.67 | 12,796.94 | 10,866.65 | 20,921.85 |
| a) (Increase)/Decrease in stock (net of excise duty) | (13,747.75)
-
| (8,296.29) | (12,784.70) | (11,362.44) | (6,515.45) |
| b) Consumption of Raw Material, Packing Material & Chemicals | 18,696.05
- | 12,816.56 | 23,483.64 | 20,405.32 | 24,019.60 |
| c) Staff Cost | 766.26 | 494.24 | 1,236.21 | 814.13 | 1,597.14 |
| d) Other Expenditure | 478.54 | 552.16 | 861.79 | 1,009.64 | 1,820.56 | | 5 | Interest | 1,238.25 | 519.55 | 1,786.35 | 803.85 | 1,846.11 | | 6 | Gross Profit after Interest but before depreciation & Tax | 1,241.38 | 336.94 | 237.71 | 1,182.78 | 44.31 | | 7 | Depreciation | 832.53 | 334.25 | 1,162.01 | 690.26 | 1,330.99 | | 8 | Profit before exceptional item and Tax | 408.85 | 2.69 | (924.30) | 492.52 | (1,286.68) | | 9 | Exceptional item- Expenditure | - | - | - | - | - | | 10 | Profit before Tax | 408.85 | 2.69 | (924.30) | 492.52 | (1,286.68) | | 11 | Provision for Tax | - |
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| - Current Year | 3.37 | 3.16 | 3.37 | 57.69 | 57.69 |
| - Previous Year | 0.35 | 4.01 | 0.35 | 4.01 | 4.01 |
| - Fringe Benefit Tax | 2.89 | 2.45 | 6.22 | 6.25 | 10.64 |
| - Deferred Tax | (236.22) | 21.65 | (236.22) | 21.65 | (730.76) | | 12 | Net Profit | 638.46 | (28.58) | (698.02) | 402.92 | (628.26) | | 13 | Paid up Equity Share capital (Face value of Rs.10/-each) | 1,631.47 | 1,556.47 | 1,631.47 | 1,556.47 | 1,556.47 | | 14 | Reserve excluding Revaluation Reserve | 12,418.25 | 13,507.54 | 12,418.25 | 13,507.54 | 12,440.66 | | 15 | a. Basic EPS (Rs.) (not annualised)
b. Diluted EPS (Rs.) (not annualised) | 3.98
3.74 | (0.18)
(0.18) | (4.41)
(4.09) | 2.59
2.59 | (4.27)
(4.20) | | 16 | Public Shareholding |
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| - Number of Shares | 8,572,577 | 8,531,577 | 8,572,577 | 8,531,577 | 8,559,077 |
| - Percentage of shareholding | 52.55% | 54.81% | 52.55% | 54.81% | 54.99% | |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. Lacs)
| Sl. No. | Particulars | Quarter Ended March 2008 | Quarter Ended March 2007 | 08Half Year Ended March 20 | Half Year Ended March 2007 | Year ended September 30, 2007 (Audited) |
| 1 | Segment Revenue |
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| a) | Sugar | 6,997.11 | 5,576.75 | 13,005.60 | 11,833.36 | 21,042.17 |
| b) | Co Generation | 3,206.33 | 842.32 | 3,694.47 | 1,798.72 | 2,249.15 |
| c) | Distillery | 285.16 | 742.75 | 349.09 | 907.40 | 1,572.48 |
| Total | 10,488.60 | 7,161.82 | 17,049.17 | 14,539.48 | 24,863.80 |
| Less: Inter Segment Revenue |
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| Segment-Co Generation | 1,601.34 | 428.76 | 1,910.15 | 1,194.90 | 1,490.52 |
| Sugar | 222.35 | 352.90 | 328.53 | 559.00 | 680.00 |
| Net sales/Income from Operation | 8,664.91 | 6,380.16 | 14,810.49 | 12,785.58 | 22,693.28 |
| 2 | Segment Results
(Profit) (+)/Loss(-) before tax and interest form Each segment)* |
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| a) | Segment- Sugar | (1,031.25) | (392.09) | (2,208.12) | (492.84) | (1,731.53) |
| b) | Segment- Co Generation | 2,562.65 | 680.17 | 2,941.68 | 1,505.05 | 1,764.62 |
| c) | Distillery | 115.71 | 234.16 | 128.49 | 284.16 | 526.34 |
| Total | 1,647.11 | 522.24 | 862.06 | 1,296.37 | 559.43 |
| Less: Interest | 1,238.26 | 519.55 | 1,786.35 | 803.85 | 1,846.11 |
| : Other Un-allocable Expenditure net off un-allocable Income |
| - | - | - | - |
| Total Profit Before Tax | 408.85 | 2.69 | (924.30) | 492.52 | (1,286.68) |
| 3 | Capital Employed
(segment assets- segment Liabilities) |
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| a) | Sugar | 50,706.02 | 27,880.46 | 50,706.02 | 27,880.46 | 25,181.23 |
| b) | Co Generation | 19,389.95 | 2,475.98 | 19,389.95 | 2,475.98 | 1,594.54 |
| c) | Distillery | 1,746.86 | 1,858.05 | 1,746.86 | 1,858.05 | 1,544.09 |
| Total | 71,842.83 | 32,214.49 | 71,842.83 | 32,214.49 | 28,319.86 |
The Company does not have any exports, hence reporting on Secondary segment does not arise.
| Notes: 1. The above results were approved in the meeting of the Board of Directors held on 28th April '2008 after being reviewed and recommended by the Audit Committee.
2. The working result of sugar segment was adversely affected due to surplus availability of Sugar on account of higher carryover of stocks coupled with more than average production, which led to decline in sugar prices ,both in domestic & international markets.
3.The Company, in compliance of the interim order passed by the Hon'ble High Court of Allahabad (Lucknow Bench) on the 15th November'2007, is paying a price of Rs.110/- per quintal for sugar cane purchased and accordingly accounted for the liability for the quarter under review. Differential liability, if any, will be accounted as and when the matter is finally settled.
4. The Company’s new green field plant of 7500 TCD (expandable to 10,000 TCD) at Faridpur, District Bareilly commenced commercial production from 1st January'08.Evacuation and supply of additional 48 MW power from Company's units at Bahadarpur, District Bijnor & Faridpur, District Bareilly commenced from 4th February'08 and 9th February'08 respectively.
5. Out of 15 lacs warrants,7.50 lacs warrants have been converted into 7.50 lacs equity shares on 1st February,2008 at Rs100.20 per equity shares as per SEBI formula as laid down in DIP guidelines.All the requisite approvals for listing of these shares have been obtained from BSE & NSE .
6. 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.
7. Previous period figures have been regrouped and reclassified wherever necessary, for the purpose of comparison.
8. 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.
Place: New Delhi Gautam R. Morarka
Date: 28th April, 2008 Chairman & Managing Director |
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