Standalone Financial Results, Limited Review Report For December 31, 2016 (Result)
Standalone Financial Results, Limited Review Report For December 31, 2016 (Result)
Standalone Financial Results, Limited Review Report For December 31, 2016 (Result)
14.02.2017
BSE Ltd,
25th Floor, P.J.Towers,
Dalal Street,
Mumbai - 400 001
Dear Sirs,
The Board of Directors of the company at their meeting held on 14th February,
2017 have approved the, Un-audited Quarterly Financial Results alongwith
Limited Review Report of statutory auditors of the company for the period
ended 31't December, 20t6 as per Regulation 33 of SEBI(LODR)
Ragulations ,20t5.
Enclosed herewith please find a copy of the above Financial Results with Limited
Review Report for your record purpose.
Thanking you,
Yours faithfully,
For RIGA SUGAR CO. LTD.
t\
\i+t
'l
( s. PRASAD ) '
COMPANY SECRETARY
I . --:-:- t. ,:- :-
To
The Board of Directors
Kolkata
February 1,4,2017 For K. N. Gutgutia &
Co.
Chartered Accountants
Firm Registration Number
304153E
Q.q^-*t^ P*
C ASubhasish pore
partner
Membership No.055862
RIGA SUGAR CO. I-TD.
Regd. Office: 14, Netaji Subhas Road, Kolkata -700 001
(ClN: L1 542'1 WB1 980P1C032970)
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 3{ST DECEMBER, 2016 Rs. ln Lacs
Farticulars 3 months 9 months ended Previous Year
Expenses:
(a) Cost of materials consumed 3,208.12 (101 05) 2,213.06 3,584.55 2,993.61 10,757.15
(b) Purchase of stock in trade
@ Changes in inventory offinished goods,
work-in-progress and stock in trade (2,o74.36) 2,938.63 325.79 7,129.13 6,182.82 2,092.34
(d) Employees benefits expenses 277.90 148.48 203.96 536.50 455.72 1 ,366.1 1
(e) Depreciation & amortisation expenses 101.65 101 .66 63.75 304.97 261.50 408.28
(0 Other Expenses 55.85 193.17 618.56 429.57 1,410.08 2,551.62
8 Exceptional ltems
IJ Net profit (Loss) for the period (1 1-12) 235.45 (547.81) (151.1e) (s11.25) (2,0s5. 06) (228.71)
(Ai
N/
Previous Year
31.12.2016 31.'12.2015
31.12.2015
6,523.87 13,663.35
ffimsnt Revenue (Net Sales) 1,776.74 2,493.34 9,464.82
1,698.05 3.610.82 4.290.62
a. Sugar Unit 946.38 2.572.33
384.13 1.307 .12
10,'134.69 17,953,97
b. Distillery Unit 3,083.86 3,439.72 12,037.15
2,O82.18
Total
10.134.69 17.953.97
Le3s: lnter-Segment Revenue 2.082.18 ,.ouu.uu 3.439.72 12.037.15
Net sales / lncome from
Operation
2. Segment Results
and
Profit(+)/ Loss(-) before tax (524.81)
Finance cost from each segment 446.88 (156.05) 4.52
1,453.63
622.82
a. Sugar Unit ' 95.25.
197.04 199.28
928.82
b. Distillery Unit 201.56 165.74
542.13 1,146.54 1,435.34
Total 352.75 1,076.99
306.68
Less: i. Finance cost
ii other un-allocable expen-
-diture net of unallocable income 235.45 (547.81)
Total ProflV (Loss) before
tax
3. Capital EmPloYed
Liabilities)
(Segment Assest- Segment
9,525.90 11,719.57
9,525.90 10,329.98
10,329.98 10j33.21 10,381.14
11,342.80 9,427.13
a. Sugar Unit 11,342.80 11,042.68 9,427.13
999.91
999.91 721.18
b. Distillery Unit ooo ql 999.91 721.18
c. Unallocable
Total
NOTES
(1) Sugar factory started crushing operation for the season 2016-17 from 01J12.2016.
Sugar being a seasonal industry, the performance of the company varies from
quafter to quarter.
(2) The sugar prices has been improving during this current financial year. At the same
time the cane price for the season 2016-17 has also been increased substantially.
1i; Oue to stricture of the pollution control authority, the working days of Distillery unit of
the company affected during the current financial year, although the company
installed MEE during the year and is setting up new Digester for treatment of effluent
of distillery. This affected the production and sales of ethanol to OMC and so the
adverse financial of Distillery during 9 months period.
(4) The 5,50,000 convertible warrants issued to promoters group and to others on
preferential allotment basis were converted into equivalent quantity of equity shares
at a price of Rs. 12.00 per share including premium of Rs. 2.00 on 30.12.2016 as per
SEBI Regulations. The entire amount of issue proceed of Rs. 66.00 Lacs were
utilized in the business to improve financial parameter of the company.
(6) The above results were reviewed by Audit Committee on 11th February,2017 and
approved by the Board of Directors of the Company at their meeting held on 14th
February,2017.
Place : Kolkata
Dated :14.02.2017
1///
O.P.DHANUKA
CHAIRMAN & MANAGING DIRECTOR
DIN:00049947