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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Dharani Sugars and Chemicals Ltd    DHARSUGAR   INE988C01014

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

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08/16/2017 | 09:12am CEST
PGP GROUP

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

Email: [email protected].in, [email protected].in, [email protected].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.

1

UnauditedFinancial Results for the Quarter ended 30-06-2017

Enclosed

2

Appointment of New Statutory Auditors

The termof office of M/sSrinivasan & Shankar & Co., Chartered Accountants, Chennai, Statutory Auditors of our Company, expires at the conclusion of the 301h Annual General Meeting, as per the provisionsof Section 139 of theCompanies Act, 2013 readwith

Companies (Audit and Auditors), Rules, 2014.

Accordingly, at the Board Meeting heldon 12th August 2017, the Boardof Directors recommended the appointment of M/s CNGSN & Associates LLP, Chartered Accountants, Chennai (ICAI Regn No.004915S/S200036}for 5 years commencing from the conclusion of the 30th AnnualGeneral Meeting till the conclusion of the 35th Annual General Meeting in accordance with the provisions of Sections 139, 141 & other applicable provisions, ifany, ofthe Companies Act,2013 read with Companies (Audit and Auditors} Rules,2014, subject to the approval ofthe shareholders atthe 30th Annual General Meetingand ratification at every Annual General Meetingthereafter .

The firm has been subjected to Peer Review by the Institute of Chartered Accountantsof India and Quality Review by Quality Review Boardconstituted by the Government of India.

Profile of M/s CNGSN &Associates is enclosed in Annexure.

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

PGP GROUP

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

Email :[email protected] .in,[email protected] .in,[email protected] .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· [email protected]-pgp com Website· wwwdharanisugars.in

Quarter Ended

Year Ended

30.06.2017

31.03.2017

30.06.2016

31.03.2017

Unaudited

Audited

Unaudited

Audited

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

1

Revenue from Operations

15343.30

17441.62

II

Other Income

46.50

396.56

S.No

IllTotalIncome (1+11) IV Expenses

Cost of materials consumed

Particulars

Rs in akhs

8568.58 53204.73

142.03 782.59

15389.80

17838.18

8710.61

53987.32

11036.09

16682.95

11102.45

36848.80

(976.51)

(6864.88)

(6144.97)

(289.35)

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

    1. 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

    2. 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

    3. 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

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

    5. 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

    Dharani Sugars & Chemicals Ltd. published this content on 12 August 2017 and is solely responsible for the information contained herein.
    Distributed by Public, unedited and unaltered, on 16 August 2017 07:11:02 UTC.

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