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Ponni Sugars (Erode) Ltd. Interim / Quarterly Report 2026
62371_rns_2026-05-11_5dc6b8fd-a59f-4eb5-b20c-3726d7d4598e.pdf
Interim / Quarterly Report
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PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone: 044 - 24961920, 24960156
E-mail: [email protected] Website: www.ponnigars.com
ISO
9001/14001
45001/50001
CERTIFIED
PEL/ SH/ 56
11th May 2026
National Stock Exchange of India Ltd
Exchange Plaza
5th Floor, Flat No.C/ 1 G Block
Bandra-Kurla Complex, Bandra East
Mumbai 400 051
BSE Ltd
Phiroze Jeejeebhoy Towers
Dalal Street, Fort
Mumbai 400001
Scripcode: PONNIERODE
Scripcode: 532460
Dear Sirs,
Sub: Outcome of Board Meeting - Audited financial results for the Quarter and Year ended 31st March 2026 and other Business transacted at the Board meeting held on 11th May 2026
In continuation of our intimation of date of Board Meeting vide our letter No. PEL/SH/52 dated 21.04.2026, we wish to state that the Board of Directors of the Company at their meeting held today on 11th May 2026 have transacted, among other business, the following:
- Approval of Audited Financial Results
The Board of Directors have approved the Audited Financial Results for the quarter and year ended 31.03.2026.
- Compliance of Regulation 33
In deference to Clause 33 of the SEBI (LODR) Regulations, 2015 we send herewith:
(i) Audited Financial Results for the quarter and year ended 31st March 2026, approved by the Board of Directors and signed by the Managing Director (including segment wise results, Statement of Assets and Liabilities and Statement of Cash Flows) (Annx-1).
(ii) Extract of Financial results to be published (Annx-2).
(iii) Auditors' Report on Annual Financial Results (Annx-3).
(iv) Declaration on Auditors Report with 'Unmodified opinion' (Annx-4)
PONNI SUGARS (ERODE) LIMITED
CIN : L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone : 044 - 24961920 , 24960156
E-mail : [email protected] Website : www.ponnigars.com
ISO
9001/14001
45001/50001
CERTIFIED
-2-
3. Dividend
The Board of Directors have recommended a dividend of Rs.5.00 (Rupees Five only) per Equity Share of Rs.10 each for the financial year 2025-26. The Dividend, if approved by the Members at the Annual General Meeting will be paid on or before 01st July 2026.
4. Record date for Dividend
The record date for the purpose of determining shareholders who are eligible to receive Dividend for FY 2025-26 is fixed on Friday, the 05th June 2026.
5. Convening of AGM
The Board of Directors have approved for convening 30th Annual General Meeting of the Company on Wednesday, the 24th June 2026 at 11.00 AM.
6. Cut-off Date for e-Voting
Cut-off date to determine the shareholders who are eligible for remote e-Voting/ e-Voting at AGM is fixed as Wednesday, the 17th June 2026.
7. E-voting period
Remote e-voting period for casting of votes by shareholders is fixed from Saturday, the 20th June 2026 (10.30 AM) to Tuesday, the 23rd June, 2026 (5.00 PM).
The Board Meeting commenced at 12.30 PM and concluded at 02.10 PM.
The above information will be made available on the Company's website at www.ponnisugas.com
Please take the above on record.
Thanking you
Yours faithfully
For Ponni Sugars (Erode) Limited
RANGAVITTAL
MADHUSUDHAN
R Madhusudhan
Company Secretary & Compliance Officer
Encl: As above
Digitally signed by RANGAVITTAL
MADHUSUDHAN
Date: 2026.05.11 14:11:49 +05'30'
3
PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone: 044-24961920, 24960156
E-mail: [email protected] Website: www.ponnisugars.com
ISO 9001/14085 CERTIFIED
( ₹ Lakhs )
| Statement of audited Financial Results for the Quarter and Year ended 31-03-2026 | ||||||
|---|---|---|---|---|---|---|
| SI. No. | Particulars | Quarter Ended | Year Ended | |||
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||
| (Audited) | (Unaudited) | (Audited) | (Audited) | (Audited) | ||
| (Note -3) | (Note -3) | |||||
| 1. | Income | |||||
| a) | Revenue from Operations | 8954 | 15135 | 9445 | 41499 | 35946 |
| b) | Other Income (Note 4) | 646 | 368 | 181 | 1447 | 1195 |
| Total Income | 9600 | 15503 | 9626 | 42946 | 37141 | |
| 2. | Expenses | |||||
| a) | Cost of Materials Consumed | 9631 | 7806 | 7452 | 28511 | 25351 |
| b) | Changes in Inventories of Finished Goods and Work-in-Progress | (5587) | 3891 | (2417) | (1417) | (2278) |
| c) | Power & Fuel | 1597 | 1235 | 1751 | 5790 | 5290 |
| d) | Employee Benefits Expense | 626 | 659 | 512 | 2543 | 2389 |
| e) | Finance Costs | 54 | - | 3 | 60 | 5 |
| f) | Depreciation and Amortisation Expense | 296 | 272 | 290 | 1100 | 1008 |
| g) | Other Expenses | 898 | 613 | 963 | 2498 | 2572 |
| Total Expenses | 7515 | 14476 | 8554 | 39085 | 34337 | |
| 3. | Profit before exceptional items and taxes (1-2) | 2085 | 1027 | 1072 | 3861 | 2804 |
| 4. | Exceptional Items - Gain/(Loss) (Note 5) | 4523 | - | - | 5164 | - |
| 5 | Profit Before Tax (3+4) | 6608 | 1027 | 1072 | 9025 | 2804 |
| 6. | Tax Expenses | |||||
| Current Tax | 1166 | 179 | 190 | 1588 | 491 | |
| Deferred Tax | 87 | (99) | 457 | (53) | 413 | |
| Tax relating to earlier years | 2687 | - | (28) | 2687 | (28) | |
| Total Tax Expenses | 3940 | 80 | 619 | 4222 | 876 | |
| 7. | Profit for the period (5-6) | 2668 | 947 | 453 | 4803 | 1928 |
| 8. | Other Comprehensive Income (OCI) | |||||
| i. Item that will not be reclassified to profit or loss | ||||||
| a. Effect of measuring Investments at fair value | 529 | (1037) | (4516) | (1116) | (3518) | |
| b. Actuarial gain on employee defined benefit obligation | 13 | - | 24 | 13 | 24 | |
| ii. Income tax relating to items that will not be reclassified to profit or loss | (82) | 151 | 648 | 158 | 189 | |
| Total OCI | 460 | (886) | (3844) | (945) | (3305) | |
| 9. | Total Comprehensive Income for the period (7+8) | 3128 | 61 | (3391) | 3858 | (1377) |
| 10. | Earnings Per Share (Face Value : ₹10/- per share) | |||||
| A) Basic ( ₹) | 31.02 | 11.01 | 5.27 | 55.85 | 22.42 | |
| B) Diluted ( ₹) | 31.02 | 11.01 | 5.27 | 55.85 | 22.42 | |
| 11. | Paid up Equity Share Capital (Face Value : ₹10/- per share) | 860 | 860 | 860 | 860 | 860 |
| 12. | Other Equity (excluding Revaluation Reserve) as at balance sheet date | --- | --- | --- | 55953 | 52353 |
PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone: 044 - 24961920, 24960156
E-mail: [email protected] Website: www.ponnisugars.com
ISO 9001:1:2001 CERTIFIED
Segment wise Revenue, Results and Capital Employed (Audited)
( ₹ Lakhs )
| Particulars | Quarter Ended | Year Ended | |||
|---|---|---|---|---|---|
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | |
| (Audited) (Note -3) | (Unaudited) | (Audited) (Note -3) | (Audited) | (Audited) | |
| 1 Segment Revenue | |||||
| a) Sugar | 7148 | 14084 | 8299 | 36511 | 32602 |
| b) Co-generation | 4590 | 3605 | 3783 | 14043 | 12478 |
| Sub total | 11738 | 17689 | 12082 | 50554 | 45080 |
| Less: Intersegmental Revenue | 2784 | 2554 | 2637 | 9055 | 9134 |
| Sales / Income From Operations | 8954 | 15135 | 9445 | 41499 | 35946 |
| 2 Segment Results | |||||
| Profit before Tax and Interest from each segment | |||||
| a) Sugar | 1043 | 8 | 753 | 1350 | 1217 |
| b) Co-generation (Note 5) | 5706 | 816 | 443 | 7563 | 1504 |
| Sub total | 6749 | 824 | 1196 | 8913 | 2721 |
| Less: | |||||
| a) Finance Costs | 54 | - | 3 | 60 | 5 |
| b) Other Unallocable expenditure/(income) | 87 | (203) | 121 | (172) | (88) |
| Total Profit Before Tax | 6608 | 1027 | 1072 | 9025 | 2804 |
| 3 Segment Assets | |||||
| a) Sugar | 22355 | 16337 | 20109 | 22355 | 20109 |
| b) Co-generation | 13680 | 8831 | 9646 | 13680 | 9646 |
| c) Unallocable | 29155 | 33539 | 28239 | 29155 | 28239 |
| Total | 65190 | 58707 | 57994 | 65190 | 57994 |
| 4 Segment Liabilities | |||||
| a) Sugar | 2790 | 3022 | 2191 | 2790 | 2191 |
| b) Co-generation | 327 | 175 | 602 | 327 | 602 |
| c) Unallocable | 5260 | 1825 | 1988 | 5260 | 1988 |
| Total | 8377 | 5022 | 4781 | 8377 | 4781 |
PENNIS IERODE
5
PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone: 044-24961920, 24960156
E-mail: [email protected] Website: www.ponnisugars.com
Statement of Assets and Liabilities (Audited)
(₹ Lakhs )
| S.No | Particulars | As at 31.03.2026 | As at 31.03.2025 |
|---|---|---|---|
| A | ASSETS | ||
| 1 | Non-Current Assets | ||
| (a) Property, Plant and Equipment | 14,284 | 13,030 | |
| (b) Capital Work-in-Progress | 229 | 1,123 | |
| (c) Intangible Assets | 9 | 18 | |
| (d) Financial Assets | |||
| (i) Investments | 24,395 | 25,511 | |
| (ii) Trade Receivables | - | 388 | |
| (iii) Other financial assets | 5,180 | 22 | |
| (e) Other Non-Current Assets | 167 | 106 | |
| Total Non-Current Assets | 44,264 | 40,198 | |
| 2 | Current Assets | ||
| (a) Inventories | 12,907 | 11,491 | |
| (b) Financial Assets | |||
| (i) Trade Receivables | 2,195 | 3,062 | |
| (ii) Cash and Cash Equivalents | 173 | 524 | |
| (iii) Bank balances other than (ii) above | 4,587 | 2,119 | |
| (iv) Others | 150 | ||
| (c) Current Tax Assets (Net) | - | 85 | |
| (d) Other Current Assets | 914 | 515 | |
| Total Current Assets | 20,926 | 17,796 | |
| TOTAL ASSETS | 65,190 | 57,994 | |
| B | EQUITY AND LIABILITIES | ||
| 1 | Equity | ||
| (a) Equity Share Capital | 860 | 860 | |
| (b) Other Equity | 55,953 | 52,353 | |
| Total Equity | 56,813 | 53,213 | |
| Liabilities | |||
| 2 (i) | Non-Current Liabilities | ||
| (a) Provision for Income tax (Net) | 971 | 79 | |
| (b) Deferred Tax Liabilities (Net) | 3,711 | 1,869 | |
| Total Non-Current Liabilities | 4,682 | 1,948 | |
| 2 (ii) | Current Liabilities | ||
| (a) Financial Liabilities | |||
| (i) Trade Payables | |||
| - Micro and Small enterprises | 282 | 178 | |
| - Others | 1,886 | 1,409 | |
| (ii) Other Financial Liabilities | 563 | 548 | |
| (b) Other Current Liabilities | 398 | 681 | |
| (c) Provisions | 31 | 17 | |
| (d) Current Tax Liabilities (Net) | 535 | - | |
| Total Current Liabilities | 3,695 | 2,833 | |
| TOTAL EQUITY AND LIABILITIES | 65,190 | 57,994 |
BROOKLYN INSTITUTE OF COMPLIANCE
6
PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone: 044 - 24961920, 24960156
E-mail: [email protected] Website: www.ponnisugars.com
ISO 9001/14001 CERTIFIED
| Statement of Cash flows (₹ Lakhs) |
|---|
| S.No |
| 31.03.2026 |
| A. |
| Cash flow from Operating Activities: |
| Profit before tax |
| Adjustments for: |
| Depreciation and Amortisation expenses |
| Interest income |
| Dividend |
| Finance costs |
| Others |
| Operating Profit before working capital changes |
| Adjustments for: |
| (Increase) / Decrease in Trade Receivables |
| (Increase) / Decrease in Inventories |
| (Increase) / Decrease in Other assets |
| Increase / (Decrease) in Trade payables |
| Increase / (Decrease) in Other liabilities and provisions |
| Total |
| Cash generated from operations |
| Direct Tax paid net of refund |
| Net cash from operating activities (A) |
| B. |
| Purchase / Acquisition of Property, plant and equipment, intangibles, after adjusting capital Advances |
| Value of retired property, plant and equipment |
| Proceeds from Sale of property, plant and equipment |
| (Increase)/Decrease in short term deposits |
| Interest received |
| Dividend received |
| Net cash used in investing activities (B) |
| Cash flow from Financing Activities: |
| C. |
| Dividend paid |
| Net cash used in financing activities (C) |
| Net increase in cash and cash equivalents (A+B+C) |
| Cash and cash equivalents at the beginning |
| Cash and cash equivalents at the end |
SURGS IEROPES PRL
PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone: 044 - 24961920, 24960156
E-mail: [email protected] Website: www.ponnisugars.com
ISO 9001/14001 CERTIFIED
Notes:
- The Board has recommended a dividend of ₹ 5.00 per Equity Share of Rs.10/- each for FY 2025-26 subject to approval of shareholders at the ensuing Annual General Meeting.
- Sugar production being seasonal, performance of one quarter is not indicative of the trend for the whole year.
- The figures for the quarter ended 31st March, 2026 and 31st March 2025 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the end of the third quarter of the relevant financial year. Also the figures up to the end of the third quarter had only been reviewed and not subjected to audit.
- Other income includes ₹ 357 lakhs on derecognition of excess liability pursuant to change in accounting estimate.
- The Appellate Tribunal for Electricity (APTEL) delivered judgement in Sep'25 covering tariff revision for the period from 2012 in favour of the company. The Tamil Nadu Electricity Regulatory Commission (TNERC) on remand has initiated proceedings for revising the tariff, giving effect to APTEL judgement.
The company has been legally advised that its right to additional tariff and carrying cost has arisen from the APTEL judgement which is an enforceable right. The company following accrual basis of accounting has accordingly recognized the effect of APTEL judgement in the current quarter based on reasonable and reliable estimate to the best of its judgement in line with Ind AS-115.
Additional revenue in respect of tariff revision and carrying cost (interest) has been recognized in the current quarter as under:
(Rs. Lakhs)
| | Upto
31.03.2025 | For FY
2025-26 | Total |
| --- | --- | --- | --- |
| Tariff Revision | | | 3301 |
| Revenue from operations | | 326 | |
| Exceptional item | 2975 | | |
| Carrying Cost | | | 1582 |
| Other Income | | 34 | |
| Exceptional item | 1548 | | |
- The company has been availing tax holiday under Section 80 IA of the Income Tax Act 1961 in respect of profits from Cogen business. Accordingly, the company was paying only Minimum Alternate Tax (MAT) since then. MAT so paid, being eligible for set off, was carried forward.
7
P
PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR)
Perungudi, Chennai 600 096.
Phone: 044-24961920, 24960156
E-mail: [email protected] Website: www.ponnisugars.com
ISO 9001:14001 CERTIFIED
The Tax Department during the year has initiated proceedings under transfer pricing provisions for certain years. The company expects this to get extended to more periods that will have the effect of nullifying the tax exemption. The company has taken steps to legally defend its position and is reasonably confident of its case.
The company however opted to reassess its tax liability based on prudence for the past periods, but not conceding, the transfer pricing norm of tax department. Pursuant to this, the company during the current quarter has written down Rs.2053 lakhs of 'MAT credit receivable' and made additional tax provision of Rs.634 lakhs relating to earlier years and Rs.483 lakhs for the current year.
7 The company does not have any subsidiary/associate/joint venture entity(ies) as on 31st March 2026.
8 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on 11th May 2026.
For Ponni Sugars ( Erode) Ltd
Chennai
11.05.2026
N Ramanathan
Managing Direct
9
PONNI SUGARS (ERODE) LIMITED
CIN : L15422TN1996PLC037200
Regd. Off: ESVIN House, 13 Rajiv Gandhi Salai (OMR), Perungudi, Chennai 600 096
Phone: (044) 24961920, 24960156 Email: [email protected]
Investor Grievance ID: [email protected] Web: www.ponnisugars.com
Audited Financial Results for the Quarter and Year ended 31st March 2026
( ₹ Lakhs )
| Particulars | Quarter ended | Quarter ended | Year ended | Year ended |
|---|---|---|---|---|
| 31-03-2026 | 31-03-2025 | 31-03-2026 | 31-03-2025 | |
| (Audited) | (Audited) | (Audited) | (Audited) | |
| Total Income from Operations | 9600 | 9626 | 42946 | 37141 |
| Net Profit for the period (before tax and exceptional items) | 2085 | 1072 | 3861 | 2,804 |
| Net Profit for the period before tax (after exceptional items) | 6608 | 1072 | 9025 | 2804 |
| Net Profit for the period after tax (after exceptional items) | 2668 | 453 | 4803 | 1928 |
| Total Comprehensive Income for the period [Comprising profit for the period (after tax) and Other Comprehensive Income (after tax)] | 3128 | (3391) | 3858 | (1377) |
| Equity Share Capital | 860 | 860 | 860 | 860 |
| Other Equity (excluding Revaluation Reserve) as shown in the audited balance sheet | - | - | 55953 | 52353 |
| Earnings Per Share (Face Value ₹ 10/- each) | ||||
| Basic: | 31.02 | 5.27 | 55.85 | 22.42 |
| Diluted: | 31.02 | 5.27 | 55.85 | 22.42 |
Notes: 1. The above is an extract of the detailed format of Quarterly / Annual Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Full format of the Quarterly Annual Financial Results are available on the websites of the Company at www.ponnisugars.com and Stock Exchanges - BSE (www.bseindia.com) and NSE (www.nseindia.com)
2. The Board has recommended a dividend of ₹5.00 per Equity Share of ₹ 10/- each for FY 2025-26 subject to approval of shareholders at the ensuing Annual General Meeting.
For Ponni Sugars (Erode) Limited
Chennai
11.05.2026
N Ramanathan
Managing Director
10
M/s. S.VISWANATHAN LLP
CHARTERED ACCOUNTANTS
Regd. Off : 17, Bishop Wallers Avenue (West), Mylapore, Chennai - 600 004
Tel: 91-44-24991147, 24994423
email: [email protected]
Firm Registration No. 004770S / S200025 GSTIN: 33AAAFV0367K1Z7
INDEPENDENT AUDITOR'S REPORT
The Board of Directors
Ponni Sugars (Erode) Limited
Esvin House
13 Rajiv Gandhi Salai
Perungudi
Chennai 600096
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying standalone quarterly financial results of Ponni Sugars (Erode) Limited (the company) for the quarter ended 31.03.2026 and the year to date results for the period from 01.04.2025 to 31.03.2026, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us these standalone financial results:
i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the quarter ended 31.03.2026 as well as the year to date results for the period from 01.04.2025 to 31.03.2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the
Branches:
27/34, 2nd Floor, Nandidurg Road, Jayamahal Extension, Bangalore - 560 046
Tel: 91-80-23530535 GSTIN: 29AAAFV0367K1ZW
4/5, Sri Krishna Villas, Kongu Nagar, Ramanathapuram, Coimbatore - 641 045 Tel: 91-422-4367065
REG.N. NO. 004770S/ S200025 CHENNAI 600 004
M/s. S. VISWANATHAN LLP
Chartered Accountants
Continuation Sheet No. ...
Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Emphasis of Matters
We draw attention to the following notes to standalone quarterly financial results
a) Note 5 regarding the recognition of additional tariff revenue and carrying cost consequent to the judgement dated 03 September 2025 of the Appellate Tribunal for Electricity (APTEL), granting the Company an enforceable right to recover additional tariff and carrying cost from Tamil Nadu Power Distribution Corporation Limited (TNPDCL).
The APTEL has remanded the matter to the Tamil Nadu Electricity Regulatory Commission (TNERC) for passing consequential orders, the amounts recognised being ₹2,975 lakhs and ₹1,548 lakhs as Exceptional Items pertaining to prior periods, and ₹326 lakhs and ₹34 lakhs as current year Revenue from Operations and Other Income respectively are based on a reasonable and reliable estimate after applying the variable consideration constraint under Ind AS 115. The actual amounts recoverable will be determined upon TNERC passing its consequential order, and any difference will be adjusted as a change in accounting estimate in that period.
Our opinion is not modified in respect of this matter.
b) Note 6 regarding the reassessment of tax liability consequent to the Income Tax Department's proposal to substitute the regulatory price adopted by the Company for captive consumption of bagasse with market price data, thereby nullifying the
2
REGRADATIONS SEAL
REGN. No. 0047705/ S200025
CHENNAI 500 004
12
M/s. S. VISWANATHAN LLP
Chartered Accountants
Continuation Sheet No. ...
Section 80-IA deduction. While the Company remains confident of the correctness of its position and has contested the matter before the appropriate legal forum, on a prudent basis, the Company has reversed MAT credit entitlement of ₹2,053 lakhs carried forward as at 31st March 2025, and has made additional tax provisions of ₹634 lakhs for earlier years, based on management's best estimate computed by adopting the transfer pricing norms of the Income tax department.
Our opinion is not modified in respect of this matter.
Management’s Responsibilities for the Standalone Financial Results
These quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the interim financial statements. The Company’s Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of the Act read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
3
REGRADDED UNIVERSITY
REGN. No. 0047705/ S200025
CHENNAI 500 004
13
M/s. S. VISWANATHAN LLP
Chartered Accountants
Continuation Sheet No. ...
The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
-
Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained,
SANTA BARBARA
REGN. NO. 004770S/ S200025 CHENNAI 600 004
M/s. S. VISWANATHAN LLP
Chartered Accountants
Continuation Sheet No. ...
whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
For M/s S Viswanathan LLP
Chartered Accountant
FRN No.004770S/S200025
Raghavendran Chella Krishnan
Partner
M.No.208562
Place : Chennai
Date : 11.05.2026
UDIN: 26208562ESNJPP5392
5
15
PONNI SUGARS (ERODE) LIMITED
CIN: L15422 TN1996 PLC037200
Regd. Office: ESVIN House, No.13, Rajiv Gandhi Salai (OMR),
Perungudi, Chennai - 600 096.
Phone: 044 - 24961920, 24960156
E-mail: [email protected] Website: www.ponnisugars.com
ISO 9001/14001 CERTIFIED
Annx-
DECLARATION
[Pursuant to Regulation 33 (3) (d) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015]
It is hereby declared and confirmed that the Auditors' Report on Annual Financial Results of the Company is with unmodified opinion.
This declaration is furnished in deference to the proviso to Clause (d) of sub-Regulation (3) of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
For Ponni Sugars (Erode) Limited
N Ramanathan
Managing Director
Chennai
11th May 2026