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DHAMPUR SUGAR MILLS LIMITED
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CONSOLIDATED
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 30.06.2008
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( RS.IN LACS)
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Sl.
No.
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PARTICULARS
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QUARTER ENDED
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NINE MONTHS ENDED
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YEAR ENDED
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JUN.,08
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JUN.,07
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JUN.,08
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JUN.,07
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SEP ,2007
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UN-AUDITED
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UN-AUDITED
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UN-AUDITED
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UN-AUDITED
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AUDITED
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1.
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SALES /
INCOME FROM OPERATIONS
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12930.60
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15849.60
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47397.81
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49522.62
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64354.87
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LESS :
EXCISE DUTY & OTHER TAXES
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1305.44
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1213.56
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3833.20
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3673.25
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4864.73
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NET SALES / INCOME FROM OPERATIONS
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11625.16
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14636.04
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43564.61
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45849.37
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59490.14
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2.
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OTHER
INCOME
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541.53
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379.18
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1296.25
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980.44
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1187.86
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TOTAL
REVENUE (1+2)
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12166.69
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15015.22
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44860.86
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46829.81
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60678.00
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3.
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INCREASE
(+)/DECREASE(-) IN STOCKS
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(6440.86)
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(3188.69)
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24106.68
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20021.18
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10196.81
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4.
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TOTAL
EXPENDITURE
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- CONSUMPTION OF
RAW MATERIAL
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1777.61
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10955.81
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45965.67
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55797.74
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56378.72
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- PURCHASES OF GOODS
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80.56
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193.16
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1587.96
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790.12
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1492.00
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- STAFF COST
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978.31
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1093.18
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3354.72
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3253.50
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4043.23
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- OTHER EXPENDITURE
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1200.79
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1901.18
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8237.26
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7050.62
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9859.48
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- TOTAL (4)
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4037.27
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14143.33
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59145.61
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66891.98
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71773.43
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5.
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NET PROFIT (+) / LOSS (-) BEFORE INTEREST,DEPRECIATION,
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EXTRA
ORDINARY ITEMS AND TAXES (1+2+3-4)
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1688.56
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(2316.80)
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9821.93
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(40.99)
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(898.62)
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6.
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INTEREST
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2186.94
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1341.71
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5548.50
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2902.46
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4451.75
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7.
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NET
PROFIT(+) / LOSS (-) AFTER INTEREST BUT BEFORE
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(498.38)
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(3658.51)
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4273.43
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(2943.45)
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(5350.37)
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DEPRECIATION,
EXTRA ORDINARY ITEMS AND TAXES (5-6)
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8.
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DEPRECIATION
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1582.25
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878.41
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4079.75
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2168.24
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3323.67
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9.
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PROFIT(+)
/ LOSS (-) BEFORE EXTRA ORDINARY ITEMS
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(2080.63)
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(4536.92)
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193.68
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(5111.69)
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(8674.04)
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AND PROVISION FOR TAXATION (7-8)
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10.
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EXTRA
ORDINARY INCOME (+)/ EXPENSES (-) (NET)
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- FOREIGN EXCHANGE FLUCTUATIONS (NET)
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(534.46)
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(66.20)
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(534.46)
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(66.20)
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646.56
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- OTHERS
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0.00
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0.00
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0.00
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0.00
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169.73
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11.
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PROFIT(+)
/ LOSS (-) BEFORE TAX (9+10)
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(2615.09)
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(4603.12)
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(340.78)
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(5177.89)
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(7857.75)
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12.
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PROVISION
FOR TAXATION
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- CURRENT
& FRINGE BENEFIT TAX NET OF MAT CREDIT
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28.54
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10.50
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58.04
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36.50
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49.60
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- DEFERRED
TAX
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(290.00)
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(1549.41)
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0.00
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(1742.88)
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(1841.45)
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13.
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NET PROFIT (+) / LOSS (-) ( 11-12)
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(2353.63)
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(3064.21)
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(398.82)
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(3471.51)
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(6065.90)
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14.
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PAID UP
EQUITY SHARE CAPITAL
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5270.60
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4762.65
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5270.60
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4762.65
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4762.91
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( FACE VALUE PER SHARE RS.10/-EACH )
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15.
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RESERVES
EXCLUDING REVALUATION
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RESERVES
(AFTER ADJUSTING DEFFERED TAX ASSET)
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N.A
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N.A
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N.A
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N.A
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35189.06
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16.
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EARNING PER SHARE :
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- BASIC
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N.A
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N.A
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N.A
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N.A
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N.A
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- DILUTED
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N.A
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N.A
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N.A
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N.A
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N.A
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17.
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CASH EARNING PER SHARE :
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- BASIC
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N.A
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N.A
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7.25
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N.A
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N.A
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- DILUTED
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N.A
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N.A
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7.24
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N.A
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N.A
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18.
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AGGREGATE
OF NON-PROMOTER SHAREHOLDING
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- NO. OF SHARES
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30259661
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30529544
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30259661
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30529544
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30121794
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- PERCENTAGE OF
SHAREHOLDING
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57.41%
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64.20%
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57.41%
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64.20%
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63.33%
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NOTES:
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1
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The
results were reviewed by the Audit Committee and approved by the Board in
their meeting held on 31.07.2008.
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2
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The
Auditors of the Company have carried out the Limited Review of the above
financial results.
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3
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Earlier
the Hon’ble Allahabad High Court had quashed SAP of Rs.125/- per quintal for the
season 2006-07 fixed by the U P Government and upheld by Hon’ble Supreme
Court. However, the Lucknow Bench of the same High
Court has recently upheld SAP of Rs. 125 per
quintal for the season 2007-08. SLPs against the
aforesaid two judgments of the
two different Benches of the same High Court have been
filed in the Hon'ble Supreme Court. Pending Apex
Court decision in this matter, the
accounts for the quarter and nine months period ended June 30, 2008 have been
prepared based on cane price
of Rs.110 per quintal,
paid in accordance
with the earlier interim order
of the
Hon'ble High Court and
upheld by the Supreme Court. If the
results were computed based
on cane price
of Rs.125 per
quintal for gate
and centre cane
(no transportation rebate
for centre cane) the loss
for the nine months period would have been higher by Rs.1776 lacs.
Necessary adjustment on account of changes in cane price will be made in
accordance with the order of the Apex Court..
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4
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The
results have been prepared without accounting for any incentive entitlements
under U.P. Sugar Incentive Promotion Policy, 2004 as the scheme has been
subsequently cancelled by State Government. The company has filed writ
petition before Hon.ble Allahabad High Court (Lucknow Bench) for enforcement of Scheme and settlement of
incentive claims.
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5
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During the
quarter, the Company has issued to Promoters, 1000000 Equity Shares of Rs. 10/- each at a premium of Rs.
57/- per share and 1200000 Equity Warrants having conversion option into
Equity Shares of Rs.10/- each at a premium of Rs.
57/- per share as per SEBI Guidelines.
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6
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Sugar
being a seasonal industry, the performance of any quarter may not be
representative of the annual performance of the Company.
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7
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There was
no outstanding complaint from the shareholders in the beginning of the
quarter and all the 6 complaints received during the quarter have been dealt
with satisfactorily.
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8
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During the
quarter, Dhampur Sugar Distillery Pvt. Ltd.- a subsidiary company, has
commenced trial run and commercial production shall start in next quarter, as
such consolidated financial
information with subsidiary is not required.
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9
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Figures
for the previous corresponding periods have been regrouped, wherever
considered necessary.
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QUARTERLY REPORTING OF SEGMENT WISE
REVENUE,RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41
OF LISTING AGREEMENT
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Sl.
No.
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PARTICULARS
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QUARTER
ENDED
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NINE MONTHS
ENDED
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YEAR
ENDED
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JUN.,08
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JUN.,07
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JUN.,08
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JUN.,07
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SEP , 2007
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UN-
AUDITED
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UN-
AUDITED
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UN-
AUDITED
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UN-
AUDITED
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AUDITED
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1
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SEGMENT
REVENUE (NET OF EXCISE & OTHER TAXES)
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a) SUGAR -
MANUFAC-
TURING
ACTIVITY
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10447.52
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12076.64
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36554.75
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40152.56
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50804.09
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- TRADING
/ EXPORT
ACTIVITY
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0.00
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67.89
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1057.05
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108.76
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706.68
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b)
CO-GENERATION
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1676.49
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0.00
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11176.62
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0.00
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0.00
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c)
CHEMICALS / ETHANOL
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3269.22
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2694.14
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9334.45
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7297.44
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9825.60
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d) OTHERS
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117.65
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164.41
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644.03
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865.82
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918.28
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TOTAL
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15510.88
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15003.08
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58766.90
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48424.58
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62254.65
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LESS :
INTER SEGMENT REVENUE (NET OF EXCISE)
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3885.72
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367.04
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15202.29
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2575.21
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2764.51
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NET SALES / INCOME FROM OPERATION
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11625.16
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14636.04
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43564.61
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45849.37
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59490.14
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2
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SEGMENT
RESULTS ( NET LOSS (-) / PROFIT(+) BEFORE TAX & INTEREST FROM EACH SEGMENT)
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a) SUGAR –MANUFA-CTURING
ACTIVITY
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(12.00)
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(3911.75)
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519.03
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(4013.80)
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(6668.19)
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- TRADING
/ EXPORT ACTIVITY
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0.00
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35.65
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26.08
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12.83
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38.10
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b)
CO-GENERATION
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(99.79)
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0.00
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3662.48
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0.00
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0.00
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c)
CHEMICALS / ETHANOL
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270.51
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744.06
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2213.80
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1918.99
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3293.82
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d) OTHERS
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78.58
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(20.77)
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125.17
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54.97
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74.13
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TOTAL
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237.30
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(3152.81)
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6546.56
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(2027.01)
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(3262.14)
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LESS
:INTEREST
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2186.94
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1341.71
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5548.50
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2902.46
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4451.75
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ADD :
OTHER UNALLOCABLE EXPENSES NET OF UNALLOCABLE INCOME
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(665.45)
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(108.60)
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(1338.84)
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(248.42)
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(143.86)
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NET PROFIT(+) / LOSS (-) BEFORE TAX
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(2615.09)
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(4603.12)
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(340.78)
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(5177.89)
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(7857.75)
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3
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CAPITAL
EMPLOYED (SEGMENT ASSETS - SEGMENT LIABILITIES)
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a) SUGAR
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89623.93
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71917.05
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89623.93
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71917.05
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57986.00
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b)
CO-GENERATION
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45324.53
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33990.76
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45324.53
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33990.76
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35012.00
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c)
CHEMICALS / ETHANOL
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10817.00
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10077.72
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10817.00
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10077.72
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8915.00
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d) OTHERS
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41.69
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182.61
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41.69
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182.61
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53.00
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TOTAL
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145807.15
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116168.14
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145807.15
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116168.14
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101966.00
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