Dharani Sugars and Chemicals : UnAudited Financial Results for the Quarter ended 30th June 2017

Regd. Office: "PGP HOUSE", (OldNo.57) New No.59, Sterling Road, Nungambakkam, Chennai - 600 034. Tel.: 28311313, 28-254176, Fax: 28232074, 28232076

Email: commercial@pgpgroup.in, finance@pgpgroup.in, secretarial@pgpgroup.in Website: www.dharanisugars.in

CIN No.:L15421TN1987PLC014454 TIN No.: 33061502443 CST No.:818529/19 .11.87

DSCLResults Reg-33 2017 August12, 2017

BSE Ltd ,Corporate RelationshipDepartment,First Floor, New TradingRing,

Rotunda Building, P JTowers,

Dalal Street,Fort,Mumbai 400 001

National Stock Exchange of IndiaLimited ExchangePlaza, 5thFloor

Plot No.C/1GBlock Bandra - KurlaComplex Bandra East, Mumbai 400051

Dear Sir,

Sub: Unaudited Financial Results for the Quarter ended 30th June 2017.

In accordance with Regulation33 read with the Securitiesand Exchange Board of India (Listing Obligationsand Disclosure Requirements)Regulations, 2015, the following items were discussed and approved in the Meeting ofthe Board ofDirectors held on hAugust 2017.

The Meeting of the Board of Directors of the Companycommenced at 11.30 a.m. and concluded at 3-/5p.m.

This above informationis also available atthe website of the Company (www .dharanisugars.in} and at the websites of the Stock Exchangeswhere theequity shares of theCompany are listed:BSELimited (www.bseindia.com} and National Stock Exchange of India Limited (www.nseindia.com}.Thisis for your information and record.

Thanking You,

President (Corporate Affairs} Encl.: asabove

Dharani Nagar, Vasudevanallur, Tirunelveli District ·627 760

Ph :(04636)241370/371/372

Karaipoondi Village, Polur, Tiruvannamalai District ·606 803.

Ph :(04181} 223161, 223162,223170

Kalayanallur Village, Thiyagadurugarn, Pallangacherry Post, Kallakurichi Via, Villupuram District - 606 206

Regd.Office :"PGPHOUSE",(OldNo.57) New No.59,Sterling Road,Nungambakkam ,Chennai - 600 034.Tel. :28311313 ,28254176 ,Fax :28232074 ,28232076

Email :commercial@pgpgroup .in,finance@pgpgroup .in,secretarial@pgpgroup .in Website :www.dharanisugars.in

CIN No.:L15421TN1987PLC014454 TIN No.:33061502443 CST No.:818529/19 .11.87

Annexure -Appointment of New Statutory Auditors

1 Profile of Statutory Auditors

Chinnsamy Ganesan brings with him more than 28 years of experience in the area of audit .He handled Indian and multinational clients in automotive, auto ancillary,Industrial markets,consumer markets, real estates, IT/ITES, BPOs,KPOs,telecom,oil and gas, plantation,banking,financial services and insurance sector .He was the lead partner for many Indian and multi-national companies and carried out audits, advisory on international financial reporting,taxation,due diligence and other assurance services .

Started his own practice as a chartered accountant in 1988, Chinnsamy Ganesan has also served Lovelock & Lewes for 6 years (network firm of PWC)and BSR & Co.LLP (network firm of KPMG) for 6 years as a partner in the audit practice.

Presently, he is leading the Financial Reporting and Accounting Advisory practice of CNGSN & Associates LLP as a senior partner and also as senior advisor of Trans Corporate Advisory Services and has also authored "A Quick Reference to IFRS with model Q&A ","Revised Schedule Vi Ready Reckoner","Ind AS Quick Referencer"and "Ready Reckoner to Schedule Ill to the Companies Act 2013 (including Ind AS Compliant Schedule Ill")

Ganesan specializes in Financial Reporting (including Ind AS,IFRS and US GAAP),Company law matters and audit .He had assisted more than 25 companies on transition to Ind AS so far and has presented more than 700+ Papers at various seminars, workshops and conferences both in India and Overseas on these specializes subjects .He had also authored several books on Financial Reporting, Ind AS and IFRS.

Ganesan is/was a co-opted member of

)>The Ind As (IFRS ) implementation Committee of ICAI (the committee involved in the implementation of IFRS in India)

)>The Accounting Standard Board of ICAI

)>The Auditing and Assurances Standard Board of ICAI

)>CII Tamilnadu Economic Affairs and Taxation Committee

)>Corporate and Allied Laws Committee of Hindustan Chamber of Commerce Ganesan is an active resource person for the

)>Accounting Standards Board, Ind As Implementation Committee,Continues

Professional Education Directorate ,Committee for Members in Industry,Quality Review Board, Peer Review Board etc., of ICAI.

)>SIRC, WIRC, NRIC, EIRC, CIRC of ICAI

)>FICCI, CII, Hindustan Chamber of Commerce

)>IIM-B,LIBA,Universities.

);> Comptroller and Auditor General of India,Staff banks(including Reserve Bank of India)

Dharani Nagar,Vasudevanallur, Tirunelveli District - 627 760

Ph :(04636) 241370/371/372

Karaipoondi Village, Polur, Tiruvannamalai District - 606 803.

Ph : (04181) 223161 ,223162 ,223170

Kalayanallur Village, Thiyagadurugarn, Pallangacherry Post, Kallakurichi Via, Villupuram District -606 206

Dharani Sugars and Chemicals limited

.

Regd. Office:"PGP House",No.57 Sterling Road, Nungambakkam, Chennai 600 034 Tel.No .91-44-28311313, Fax No.091-44-28232074, CIN -15421TN1987PLC00144S4

Email· secretarial@dharanisugars-pgp com Website· wwwdharanisugars.in

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE 2017

S.No

IllTotalIncome (1+11) IV Expenses

Cost of materials consumed

Particulars

Rs in akhs

8568.58 53204.73

142.03 782.59

Changes In inventor ies of finished goods, Stock-In-Trade and Work-In-progress

Excise duty625.81 728.79 293.24 2291.77

Employee benefits expense 606.00 636.07 610.162435.21

Depreciation and amortization expenses 571.90 752.06 661.49 2287.60

Finance Costs1863.47 1614.33 1983.70 7282.75

Other expenses1507.29 1820.99 1481.23 4693.08

TotalExpenses (IV) 15234.04 15370.31 9987.30 55549.86

vProfit/(loss)before exceptional items and tax(I-IV) 155.76 2467.87 (1276.69)(1562.54)

VI Execeptional Items ..2.817.71

VIIProfit/(loss) before tax (V-VI) 155.76 2467.87 (1273.88) (1554.83)

1. Tax Expenses

2. Current Tax .--.

   b.Deferred Tax (47.62) 898.87 254.17187.02

3. Profit/(loss) for the period from continuing operations (VII- VIII) 108.141569.00 (1019.71) (1741.85)

4. xProfit /(loss) from discontinued operations - -.

5. Tax expenses of discontinued operations --.

6. Profit/(Loss) from Discontinued operations (after tax) (X-XI) -.-

   XIII Profit/(Loss) for the period(IX+ XII) 108.14 1569.00 (1019.71) (1741.85) XIV Other Comprehensive Income .- -.

7. Items that will not be reclassified to Profit/(loss) .---

8. Income Tax relating to Items that will not be reclassified to

   Profit/(loss)- -- -

9. Items that will be reclassified to Profit/(loss) - ---

10. Income Tax relating to Items that will be reclassified to Profit/(Loss) - ---

11. Total Comprehensive Income for the period (XIII +XIV) (Comprising

    xvProfit/ (Loss) and other Comprehensive Income from Period) 108.14 1569.00 (1019.71) (1741.85) XVI Earnings per equity share (for continuing operations)

    a. Basic 0.33 4.73 (3.47) (5.25)

    b.Diluted 0.33 4.73 (3.47) (5.48)

    XVII Earnings per equity share (for discontinued operations) :

12. Basic. . ..

13. Diluted -.--

14. XVIIII Earnings per equity share (for discontinued &continuing operations):

    a. Basic 0.33 4.73 (3.47) (5.25)

    b. Diluted 0.33 4.73 (3.47) (5.48)

    Notes

    The Company had adopted Indian Accounting Standards ("Ind AS") from 1st April 2016 and accordingly the above financial results have been prepared in accordance with the recognition and measurement principles laid down in IND AS as prescribed under Section 133 of

15. Companies Act, 2013read with the Companies (Indian Accounting Standards) Rules 2015, as amended. Financial results for all the

    periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS.

    The Ind AS compliant results,pertaining to the previous periods of the previous years as applicable, have not been subjected to limited

16. review or audit.However,the management has exercised necessary due diligence to ensure that the financial results provide a true and fair view.

    The financial statements and results for the previous quarter and year ended March'17 and for the corresponding quarter of the previous

17. year June'16 had been prepared based on Indian GAAP.Consequent,to the early adoption of Ind AS from the last quarter and for the financial year ending 31st March 2017, disclosure for the previous quarter ended June'16 and year ended March'16 have been disclosed

    • M• l,I AC

      The above results for the quarter ended June 30, 2017 have been subjected to limited review by the statutory auditors,reviewed by the

18. Audit Committee and approved by the Board of Directors in their meeting held on 12th August 2017.

SRINIVASAN &SHANKAR

rter

No

Cha ed Accountants Fir)m(..005093S

per R.MANIKANDA

Place :Chennai Date :12.08.2017

(By order of the Board)

""""""''"=a.m,m,,,,

Dr PalaniG Periasamy

Executive Chairman

Dharani Sugars and Chemicals Limited

Regd. Office: "PGP House", No.57 Sterling Road,Nungambakkam, Chennai 600 034

Segment Reporting under Regulation 33 of the SEBI (LODR) Regulations 2015 for the Quarter ended 30th June 2017

SI.No	Particulars	Quarter Ended			Year Ended
		30.06.2017 Unaudited	31 .03.2017 Audited	30.06.2016	31 .03.2017
				Unaudited	Audited
		Rs in Lakhs
1	(Net Sales/ Income from each Segment)	13581.64	15862.	1 7751.72	48476.77
	a.Sugar
	b.Distillery	2597.67	2187.77	1571.48	7447.79
	c.Power	714.78	2689.33	1461.48	5472.00
	d.Unallocated	46.50	396.56	142.03	479.00
	Total	16940.59	21135.76	10926.71	61875.56
	Less: Inter Segment Revenue	1550.79	3297.58	2216.10	7888.24
	Gross Sales/ Income from Operations	15389.80	17838.18	8710.61	53987.32
2	Segment Results	1240.76	2457.64	(397.30)	2222.97
	(Profit/(Loss) before tax and Interest from
	each segment)
	a.Sugar
	b.Distillery	598.94	539.49	634.71	1954.40
	c.Power	133.03	1016.67	455.50	1477.61
	d.Unallocated	46.50	68.40	14.10	65.23
	Total	2,019.23	4,082.20	707.01	5,720.21
	Less:	1863.47	1614.33	1983.70	7282.75
	i.lnterest
	ii.Other Un-allocableexpenditure net off		-	-
	iii.Un allocable Income			2.81	7.71
	Total Profit/(Loss) Before Tax	155.76	2467.87	(1273.88)	(1554.83)
3	Segment Assets	68240.99	56980.05	52373.93	56980.05
	a.Sugar
	b.Distillery	15194.30	18697.68	14686.30	18697.68
	c.Power	15789.92	19337.21	15241.94	19337.21
	d.Unallocated	133.41	2234.49	2238.63	2234.49
	Total	99358.62	97249.43	84540.80	97249.43
4	Segment Liabilities	40101.45	37003.11	39384.36	37003.11
	a.Sugar
	b.Distillery	3646.96	2940.40	2740.67	2940.40
	c.Power	8438.21	7685.30	6912.05	7685.30
	d.Unallocated	-	-	-
	Total	52186.62	47628.81	49037.08	47628.81

SRINIVASAN & SHANKAR

(By order of the Board:for Dharani Sugars and Chemicals Limited

p R ,tt/c a. ,

Membership No: 216063 Place :Chennai

Date ::12.08.2017

Dr Palani G Periasamy

Executive Chairman