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Empee Sugars and Chemicals Limited

EMPEif1

Administrative Office: "Empee Tower" 59, Harris Road, Pudupet, Chennai - 600 002.
Tel: 91-44-28531111 Fax: 91-44-28555163 Web: www.empeegroup.co.in
. GIN: L24110AP1988PLG009291

11.8.2016

Bombay Stock Exchange limited


P. J. Towers
Dalal Street,
Mumbai 400 001.

Dear Sirs,
Sub: Outcome of the Board meeting.- Unaudited Financial Results for the quarter
ended 30.6.2016.
The Board of Directors at their meeting held on 11.8.2016 have approved
Financial Results for the quarter ended so" June 2016.

the Un-audited

The copy of the above results along with Limited Review Report are enclosed.
Thanking you
Yours faithfully
For Empee Sugars and Chemicals Ltd

:'

M.P.Purushothaman
Chairman & Managing Director

Encl:a/a

Plant I : Ayyapareddipalem, Naidupet - 524 126, Nellore Dist., Andhra Pradesh.


Tel: (08623) 248150, 248171 Fax: 08623 - 248172
Plant"

: Alangulam Road, Edaikal Village, Ambasamudram Taluk, Tirunelveli Dist. - 627 821. Tamil Nadu.
Ph : 04634-293643 Ph: 04634-251711

VENKATESH & CO
Chartered Accountants

INDEPENDENT

AUDITORS' 'REVIEW REPORT TO THE BOARD OF DIRECTORS OF


EMPEE SUGARS AND CHEMICALS LIMITED

"We have reviewed the accompanying statement of Unaudited Standalone Financial results of
Empee Sugars and Chemicals Limited for the Quarter and period ended 30th June, 2016.
This statement is the responsibility of the Company's management and has been approved by
the Board of Directors. Our responsibility is to issue a report on these financial results based
on our review.
We conducted our review in accordance with the standard on Review Engagements (SRE)
2410. 'Review of Financial Information

Performed by the Independent Auditor of the Entity'

issued by the Institute of Chartered Accountants of India. This standard requires that we plan.
and perform the review to obtain moderate assurance as to whether the statement is free of
material misstatement.

A review is limited primarily to inquiries of company personnel and

analytical procedures applied to financial data and thus provide less assurance than audit. We
have not performed an audit and accordingly we do not express an audit opinion.
The company has made a reference to BIFR as the net worth is eroded for submission of the
rehabilitation

scheme.

Based on our review conducted as above, nothing has come to our notice that causes us to
believe that the accompanying statement, prepared in accordance with Accounting Standards
and other recognized accounting practices and policies, has not disclosed the information
required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and
Disclosure requirements)

Regulations 2015, including the manner in which it has to be

disclosed, or that it contains any material misstatement.

For Venkatesh & Co


Chartered Acco
FR No:

0 4

ants

6S

Place: Chennai
Date:

11/08/2016

"SRI RANGA", New No.151, Mambalam


Telefax: 28144763/64/65/66

High Road, T.Nagar, Chennai - 600 017.

Email : venkateshandco@gmail.com

EMPEE SUGARS AND CHEMICALS LIMITED

CIN: L24110AP1988PLC009291
Regd. Office: Ayyapareddipalem,

Naidupet Mandai, Nellore District, Andhra Pradesh.

Statement of Un-Audited Financial Results for the Quarter ended 30th June 2016
PART I

Rs. in lakhs
Quarter ended
Particulars

S.No.

30.6.2016

31.03.2016

30.6.2015

31.3.2016

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

709.96

3553.07

766.84

Income from operations


Net sales/ income from operations (Net of Exciseduty)
Other operating income
Total income from operations (net)

.-

Expenses
(a) Cost of materials consumed
(b) Purchases of stock-in-trade
(c) Changes in inventories of finished goods, work-in-

709.96

3,553.07

766.84

5,044.87

472.54

4695.93

245.77

5,764.53

131.72

(85.11)

449.31

368.98

85.79
608.77

228.46
647.28

156.75
608.77

597.35
2,473.58

Profit / (loss) from operations before other Income, finance


costs and exceptional items (1-2)

Other income

96.64
1,395.45

853.64
6,340.20

151.18
1,611.78

1143.34
10,347.78

-685.49

-2,787.13

-844.94

-5,302.91

36.14

207.59

9.69

250.51

-649.35

-2,579.54

-835.25

-5,052.40

37.48

0.00

1,836.64

5,687.45

-686.83

-2,579.54

-2,671.89

-10,739.85

-2,579.54

-2,671.89

-10,739.85

-2,579.54

-2,671.89

-10,739.85

(686.83)

(2,579.54)

(2,671.89)

(10,739;85)

(686:83)

(2,579.5~)

(2,671.89)

(10;739.85)

4,197.29

4,197.29

4,197.29

4,197.29

-45380.93

(1.62)

(6.15)

Profit / (loss) from ordinary activities before finance costs and


av,.o" .i,..",~II+a""c

5,044.87

:.nrl <:tnrtt_in_tr~rlt3-

(d) Employee benefits expense


(e) Depreciation and amortisation expense
(f) Provision for Bad Debts
(g) Other expenses
Total' expenses

nrnar,:a<:<:

Year ended

1":1 11\

Finance costs
Profit / (Loss) from ordinary activities after finance costs but
h~fnr~ pvrpnfoinn::.1

itpmc::

(r:; F;\

Exceptional items

Profit! (loss) from ordinary activities before tax (7 + 8)

10

Tax expense

11

Net Profit! (Loss)from ordinary activities after tax (9 10)

12

Extraordinary items

13

Net Profit

14

Share of Profit / (loss) of associates (applicable for cons.results)

15
16

(applicable for consolidated results)


Minority Interest
Net Profit! (Loss) after taxes, minority interest and share of
profit /(Ioss) of associates (13 + 14 + 15)

17

Paid-up equity share capital


(Face Value of the Share shall be indicated)
Reserve excluding Revaluation Reserves as per balance sheet of
previous accounting year
Earnings per share (EPS)
a) Basic and Diluted before extraordinary items
~
b) Basic and Diluted after extraordinary items

I (Loss)for the

0
-686.83
0
-686.83
0
period (11 12)

t:

18
19

~ ~1(r;f

116~
en
~

Harris Road.
Chennai-2

O'fJt.:J

"*

r;;

A,

'C'y

--=--

(6.37)

(25.59)

EM PEE SUGARS AND CHEMICALS

LIMITED

CIN: L24110AP1988PLC009291

.0

Regd. Office: Ayyapareddipalem, Naidupet Mandai, Nellore District, Andhra Pradesh.

-2PART II

Particulars
30.6,2016
(Unaudited)
A

PARTICULARS OF SHAREHOLDING

Public shareholding
- Number of shares
- Percentage of shareholding

Promoters and Promoter Group Shareholding


a)
Pledged I Encumbered
- Number of shares
- Percentage of shares (as a % of the total shareholding of
promoter and promoter group)
- Percentage of shares (as a % of the total share capital of
the company)
b)
Non - encumbered
- Number of shares
~ Percentage of shares (as a % of the total shareholding of
the Promoter and Promoter group)
- Percentage of shares (as a % of the total share capital of
the company)

Quarter ended
31.03.2016
(Unaudited)

Year ended
30.6.2015
(Unaudited)

31.3.2016 (Audited)

12,771,636
30.43

12,771,636
30.43

12,771,636
30.43

12,771,636
30.43

21,110,607

21,110,607

21,110,607

21,110,607

72.29

72.29

72.29

72.29

50.30

50.30

50.30

50.30

8,090,657

8,090,657

8,090,657

8,090,657

27.71

27.71

27.71

27.71

19.28

19.28

19.28

19.28

EMPEE SUGARS AND CHEMICALS LIMITED


Segment wise Revenue, Results and Capital Employed along with the quarterly results
(Rs in Lakhs)
Quarter ended
Year ended
30.6.2016
(Unaudited)

Particulars
1. Segment
(net

31.03.2016
(Unauditedl

30.6.2015
IUnauditedl

31.3.2016

(Audited)

Revenue

sale/income

from

each

segment

should

be disclosed

under

this

head)
(a) Segment

(b)

- Sugar

Segment- tAP

(c),Segment

- Power

36.17

2.892.45

236.34

3.206.93

673.36
0.43

659.95

530.50

1.836.08

0.67

0.00

1.86

766.84

5,044.87

(d) Unallocated
Total

709.96

3.553.07

Less: Inter Segment Revenue


Net salesllneome From Operations
2.Segment

Results

(Profit)(+)/

Loss

before

tax

and

interest

709.96

3,553.07

766.84

5,044.87

(351.49)

(1,388.84)

(354.94)

-2,680.31

13.38

(25.15)

72.18

(395.10)

(295.59)

(455.16)

-1,535.78
-908.49

~49.35
37.48

-2,579.54

~86.83

from

Each segment)
(a) Segment

(b)

- Sugar

Segment- lAP

(e) Segment

97.24

- Power

(d) Unallocated

(908.49)

Total

Less:(i)
~i)Other
(iii)

Interest
Un-allocable

Un-allocable

Total

Profit

3.Capital

Expenditure

-835.25

-5,052.40

1,836.64

5,687.45

-2,579.54

-2,671.89

-10,739.85

7471.86

7938.40

10,036.19

7938.40

525.48

433.75

-2912.49

-2547.63

595.89
853.71

-2,547.63

net off

income

Before

Tax

Employed

(Segment assets - Segment Liabilities)


(a) Segment

(b)

- Sugar

Segment- lAP

(e) Segment

- Power

(d) Unallocated
Total

433.75

5740.25

5799.89

5,761.20

5,799.89

10,825.10

11,624.41

17,246.99

11,624.41

Notes:
1. The above audited financial results for the quarter ended 30.06.2016
approved

have been reviewed by the Audit Committee and

by the Board at its meetings held on 11.08.2016.

2. Consequent upon erosion of networth


of SICA with

of the company, the Company has been registered as Sick Company under the provisions

BIFR under Case Ref.No.69/2014.

3. The Company had received SARFAESInotices u/s.13(4) of the SARFAESIAct from Indian Bank and Union Bank of India to take
symbolic possession of the Sugar unit Assets located at Naiduept.
Edelweiss Assets Construction

Subsequently both IB, and UBI have assigned their debts to

Co. Ltd, Mumbai and hence the action under SARFAESIAct u/s 13(4) has become infructuous.

4. Due to non availability of sugar cane in and around Ambasamudram,

Tamilnadu, sugar production

was discontinued. The 50

MW power co- gen plant in this location has stopped generation of power since 1.12.2014 to 30.6.2016 due to a) Non availability
of bagassee from the sugar factory and

b) Further coal as an alternate fuel to generate power could not be purchased due to

financial crisis.
5. The company operates sugar, lAP and Power segments and segmental accounts are given in the financial results
6. The Company has received SARFAESInotices u/s.13(4) of the SARFAESIAct from India Indian Bank, Union Bank of India, Punjab
National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Bank of India and Andhra Bank to take symbolic possession of
the Sugar unit Assets located at Ambasamudram.

The Company has filed an appeal before DRT, Madrurai. However excepting

BOI, PNB, lOB the other Banks have assigned their borrowings
the above Banks to M/s.Edelweiss

Assets Construction

aggregating to 58% on the total outstanding

dues in respect of all

Co.Ltd, Mumbai.

Due to BIFR status and since some Banks have gone in for ARC mechanism, interest on borrowings from Banks have not been
provided for.
7. Previous period(s) figures have been regrouped wherever necessary.

For Empee Sugars and Chemicals

Place: Chennai
Date :11.2.2016

M_P.Purushothaman
Chairman

& Managing

Director

Ltd