Rana Sugars Ltd. — Interim / Quarterly Report 2022

Nov 12, 2021

REGD. OFFICE: SCO 49-50, SECTOR 8-C, MADHYA MARG CHANDIGARH- 160 009 (INDIA) CIN: L15322CH1991PLC011537, Website: www.ranasugars.com, E-mail: info@ranagroup.com TEL.: 0172-2540007, 2549217, 2541904, 2779565, 2773422, FAX: 0172-2546809

RSL/21-22/CS November 12, 2021

To,

Department of Corporate Services (DCS) National Stock Exchange of India Limited The BSE Limited, Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai-400001. Bandra (E), Mumbai- 400051.

Ref: Scrip Code: 507490, Company Symbol: RANASUG

Sub: Outcome of Board Meeting

Ref: Regulation 30 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

We wish to inform you that the Board of Directors in their Meeting held today i.e. November 12, 2021 which commenced at 12:00 Noon (IST) and concluded at 01:15 P.M. (IST) have inter alia, considered, approved and taken on record the Un-Audited Financial Results for the Half Year and Quarter ended September 30, 2021, along with the Limited Review Report issued by the Statutory Auditors of the Company;

An extract of the aforesaid results would be published in the newspapers in accordance with the Listing Regulations.

We enclose the following:

• 1. Un-Audited Financial Results for the Half Year and Quarter ended September 30, 2021;
• 1. Limited Review Report issued by the Statutory Auditors for the Half Year and Quarter ended September 30, 2021;

You are requested to kindly take the above on your records.

Thanking you, Yours sincerely,

For RANA SUGARS LIMITED

Manmohan Kumar Raina Digitally signed by Manmohan Kumar Raina

Date: 2021.11.12 13:10:32 +05'30'

MANMOHAN K RAINA Company Secretary cum Compliance Officer

RANA SUGARS LIMITED
			Registered Office: SCO 49-50, Sector 8-C, Madhya Marg, Chandigarh - 160009
			CIN: L15322CH1991PLC011537
								(Rs. in Lakhs)
Sr.		Statement of Standalone Audited Financial Results for the Period/ Quarter Ended 30th September, 20213 MonthsPreceding 3Corresponding
No.		Particulars	Ended	Months Ended	3 Months Ended	Six Months Ended	CorrespondingSix Months Ended	Year Ended
			30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
		(Refer Notes Below)Income from Operations	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1.		Revenue from Operations
2.		Other Income	27691.24	37317.44	14246.29	65008.68	41806.61	122207.35
3.		Total Income	38.89	7.38	273.54	46.27	316.54	519.16
4 1		Expenses	27730.13	37324.82	14519.83	65054.95	42123.16	122726.51
	a)	Cost of Materials Consumed
		b) Purchase of Traded Goods	6373.76	15514.26	3413.30	21888.02	17166.86	101762.99
			27.90	0.00	11.35	27.90	177.58	386.24
		c) Changes in Inventories of Finished Goods, W.I.P. and Stock in Trade	14386.83	10731.36	7656.83	25118.19	17824.57	(5995.44)
		d) Employee Benefit Expenses	932.43	1103.54	1009.08	2035.98	1885.30	4170.55
		e) Finance Costs	466.74	429.96	496.30	896.70	950.89	1841.04
		f) Depreciation	675.29	675.29	429.11	1350.57	1049.10	2701.14
		g) Other Expenditure	3676.96	3459.10	1893.07	7136.06	3725.27	9242.91
		h) Total Expenses	26539.91	31913.51	14909.04	58453.42	42779.57	114109.43
5.		Profit before exceptional items and tax (3-4)	1190.22	5411.31	(389.21)	6601.53	(656.41)	8617.08
6.		Exceptional Items (Net - Gain/(Loss))	0.00	0.00	7071.88	0.00	7071.88	7139.61
7.8.		Profit before tax (5-6)	1190.22	5411.31	6682.67	6601.53	6415.47	15756.69
		Tax Expense
		- Current Tax	0.00	0.00	0.00	0.00	0.00	0.00
9.		- Deferred Tax Asset/ (Liability)	0.00	0.00	0.00	0.00	0.00	12.55
10.		Profit after tax (7-8)	1190.22	5411.31	6682.67	6601.53	6415.47	15769.24
	a)	Other Comprehensive Income
		Items that will not be reclassified to Profit & Loss	0.00	0.00	0.00	0.00	0.00	49.87
	b)	Income tax relating to items that will not be reclassified to Profit & Loss	0.00	0.00	0.00	0.00	0.00	(12.55)
		c) Items that will be reclassified to Profit & Loss	0.00	0.00	0.00	0.00	0.00	0.00
		d) Income tax relating to items that will be reclassified to Profit & Loss	0.00	0.00	0.00	0.00	0.00
		Total Other Comprehensive Income (a+b+c+d)	0.00	0.00	0.00	0.00	0.00	0.00
11.		Total Comprehensive Income (9+10)	1190.22	5411.31	6682.67	6601.53		37.32
12.		Paid Up Equity Share Capital (FV of Rs. 10/- Each)	15,353.95	15,353.95	15,353.95	15,353.95	6415.4715,353.95	15806.56
13A.		Earnings per Equity Share (EPS) of Rs. 10/-each (not annualized) - Before Exceptional Items						15,353.95
		a) $Basic$	0.78	3.52	(0.25)	4.30	(0.43)
		b) Diluted	0.78	3.52	(0.25)	4.30	(0.43)	5.62
13B.		Earnings per Equity Share (EPS) of Rs. 10/- each (not annualized) - After Exceptional Items						5.62
		a) $Basic$	0.78	3.52	4.35	4.30	4.18
		b) Diluted	0.78	3.52	4.35	4.30		10.27
NOTES:4.1810.27
1.The above financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors in their respective meetings held on 12th November, 2021
2.The statutory auditors have carried out a limited review of the financial results of the quarter ended 30th September, 2021 as required under Regulation 33 of SEBI (Listing Obligations and Dislcosure Requirements)
4. Sugar being a seasonal Industry, there is variation in the performance of the Company, from Quarter to Quarter and results for the Quarter as such are not representative of annual Performance of the Company.
During the 6 month ended September 30,2021 an amount to Rs. 2400.32 lakhs has been recognized as financial assistance in Revenue from operations pertaining to export made under Maximum Admissible Export Quota
6.7.		The Company is not a "Large Corporate" as per the applicability framework in terms of the SEBI Circular - SEBI/HO/DDHS/ CIR/P/2018/ 144 dated 26.11.2018.
Previous Year's/Period's figures have been reclassified/recasted/regrouped where ever considered necessary.

$\blacksquare$

For RANA SUGARS LIMITED

$\ddot{\phantom{a}}$

RANA VEER PRATAP SINGHDIRECTORDIN: 00076808

$\mathcal{F}$

C

RANA SUGARS LIMITEDBalance sheet as at 30th September, 2021
All amounts in INR in Lakhs, unless otherwise statedParticulars
	30.09.2021Unaudited	31.03.2021Audited
ASSETS
(A) NON CURRENT ASSETS
aProperty, Plant and Equipment	42,205.48	42,070.71
bCapital Work-in-Progress$\mathbf{C}$	5,154.37	2,795.04
Financial Assets
InvestmentLoans		0.20
Other Financial Assets
d Deferred Tax Assets (Net)	250.35	242.06
Prepaymentse
(B) CURRENT ASSETS	61.67	61.68
a Inventories
$\mathbf b$Financial Assets	12,400.00	37,321.87
(i) Trade Receivables
(ii) Cash & Cash Equivalents	9,566.54	14,072.26
(iii) Bank Balance other than (ii) above	967.59	6,693.88
(iv) Loans	1,369.05	971.26
(v) Other Financial Assets	1,286.37	3,112.72
c Other Current Assets	9,694.42
d Prepayments	306.48	5,797.65
(C) Assets classified as held for Sale	98.97	394.6898.97
Total Assets	83,361.29
EQUITY AND LIABILITIES		113,632.99
(D) EQUITY
Equity Share capital$\overline{a}$	15,353.95
$\mathbf b$Other Equity		15,353.95
(i) Equity Component of Compound
Financial Instrument	2,811.16	2,811.16
(ii) Reserve & Surplus	14,099.00	7,497.50
(iii) Other Reserves	10,645.23	10,645.23
Total Equity	42,909.34	36,307.84
(E) LIABILITIES
INon Current Liabilitiesa
Financial Liabilities
BorrowingsLease Liabilities	10,216.81	11,081.80
bProvisions	424.96	36.36
$\mathbf{C}$Government Grant	767.73	742.23
d Deferred Tax Liabilities (Net)	83.20	83.20
e Other Non-Current Liabilities
Il Current Liabilities
a Financial Liabilities
(i) Borrowings
(i)(a) Lease Liabilities	6,623.47	6,790.67
(ii) Trade payables Due to:	115.10	11.43
- Micro & Small Enterprises
- Other than Micro & Small Enterprises	101.99	279.60
(iii) Other Current Financial Liabilities	11,502.63	49,558.97
Other Current Liabilitiesb
$\mathsf{C}$Provisions	10,490.92	8,615.75
dGovernment Grant	103.27	103.27
	21.87	21.87
Total Equity & Liabilities	83,361.29	113,632.99

For RANA SUGARS LIMITED

RANA VEER PRATAP SINGHDIRECTORDIN: 00076808

Date: 12.11.2021Place: Chandigarh

	RANA SUGARS LIMITED
	Statement of Cash Flows for the year ended 30th September, 2021
	All amounts in INR in Lakhs, unless otherwise stated
A	Particulars	30.09.2021	31.03.2021
	Cash flow from operating activities	(Unaudited)	(Audited)
$\mathbf{1}$	Profit/(Loss) before tax
$\overline{2}$	Adjustments to reconcile profit before tax to net cash flows:	6,601.49	15,756.69
	Depreciation and Amortisation Expense
	Loan written back	1,350.57	2,701.14
	Interest income	(12.94)	(7,204.84)(83.85)
	(Profit)/loss on sale/discard of property, plant & Equipment		65.25
	Finance costs	896.70	1,841.03
		2,234.33	(2,681.27)
3	Operating profit before working capital adjustments (1+2)	8,835.83	13,075.42
4	Working capital adjustments:
	(Increase)/Decrease Trade and Other Receivables and Prepayments	2,515.18
	(Increase)/Decrease in Inventories	24,921.88	4,027.05(7,067.68)
	Increase/(Decrease) Trade and Other Payables and Provisions	(36, 333.28)	4,487.19
		(8,896.23)	1,446.55
5	Cash generated from operations (3+4)	(60.40)	14,521.97
6	Taxes (paid) / refund
7	Net cash flows from operating activities (5-6)	(60.40)	14,521.97
B	Cash flow from Investing activities:
	Purchase of Property, Plant and Equipment
	Assets Regrouped under CWIP/(Assets Classified as Held for Sale)	(3,844.61)	(6, 198.84)
	Proceeds from disposal of PPE
	Purchase of investments		39.25
	Fixed deposits redeemed from banks	(397.79)	918.91
	Purchase of shares of associates	0.20	(0.20)
	Interest received	12.94	83.85
	Net cash used in investing activities:	(4,229.26)	(5, 157.03)
C	Cash flow from financing activities:
	Proceeds/(Repayments) of Long Term Borrowings (Net)	430.83	110.98
	Proceeds/(Repayments) of Short Term Borrowings (Net)	(348.08)	(2,770.65)
	Increase/(Decrease) in Unsecured LoansInterest paid	(622.66)	(3, 130.20)
	Net cash used in financing activities:	(896.70)	(1,841.03)
		(1,436.62)	(7,630.91)
D	Net change in Cash and Cash Equivalents (A+B+C)	(5,726.27)	1,734.04
	E - 1 Cash and Cash Equivalents at the beginning of the year	6,693.86	4,959.83
	E - 2 Cash and cash equivalents at year end	967.59	6,693.86

For RANA SUGARS LIMITED

Date: 12.11.2021Place: Chandigarh

$\star$

RANA WEER PRATAP SINGHDIRECTORDIN: 00076808

	RANA SUGARS LIMITED
	Registered Office: SCO 49-50, Sector 8-C, Madhya Marg, Chandigarh - 160009
	Segment Reporting for the Period/ Quarter ended 30th September, 2021
Sr.	3 MonthsPreceding 3Corresponding						(Rs. in Lakhs)
No.		Ended	Months Ended	3 Months Ended	Six Months Ended	Corresponding Six	Year Ended
	Particulars	30.09.2021	30.06.2021	30.09.2020		Months Ended
		Unaudited	Unaudited		30.09.2021	30.09.2020	31.03.2021
				Unaudited	Unaudited	Unaudited	Audited
1.
	Segment Revenue (Net Sales /Income from each Segment should be disclosed under this head)a. Sugar15,708.4429.652.04
	b. Power	202.44	3,590.16	7,851.65	45.360.48	30,325.85	101,434.20
	c. Distillery	17,592.34		768.30	3,792.61	3,875,74	17,574.40
	d. Unallocated		15,031.83	6,572.19	32,624.17	14,820.74	40,926.13
	Total	33,503.22
			48,274,03	15,192.14	81,777.25	49,022.34	159,934,72
	Less: Intersegmental Revenue	5,811.98	10,956.59	945.85	16,768.57	7,215.72	37,727.38
	Net Sales/Income from Operations	27,691.24	37,317.44	14,246.29	65,008.68	41,806.61	122,207.35
2.	Segment Results (Gross Profit (+) / Loss (-) Before Other Non Operating Income, Exceptional Items, tax and interest from each segment)
	a. Sugar	(229.07)	3,445.87	(798.38)	3.216.80	(4, 108.06)	586.18
	b. Power	(333.95)	488.42	(304.85)	154.47	503.08	2,099.51
	c. Distillerv	2.181.08	1,899.60	936.78	4,080.69	3,582.92	7,253.27
	d. Unallocated
	Total	1,618.07	5,833.89	(166.45)	7.451.96	(22.07)	9.938.96
	Add/(Less): i) Interest/Other Financial Cost	(466.74)	(429.96)	(496.30)	(896.70)	(950.89)	(1,841.04)
	Add/(Less): ii) Other Income	38.89	7.38	273.54	46.27	316.54	519.16
	Add/(Less): iii) Exceptional Items
	a. Sugar	ü	÷	7,071.88	$\mathcal{L}_{\mathcal{A}}$	7,071.88	7,197.27
	b. Power	$\overline{a}$	$\blacksquare$	g)	$\blacksquare$	÷	(2.81)
	c. Distillery	÷	ä.	g,			(54.85)
	Add/(Less): iv) Other-unallocable expenditure
	net of un-allocable income
	Total Profit (+) / Loss (-) Before Tax	1,190.22	5,411.31	6,682.67	6,601.53	6,415.47	15,756.69
3.	Capital Employed
a.	(Segment Assets)
	a. Sugar	46,853.74	59,289.65	53,340.08	46,853.74	53.340.08	77,297.05
	b. Power	5,656.96	8,214.92	5,908.06	5,656.96	5,908.06	8,362.32
	c. Distillery	30,850.60	30,763.11	21,517.83	30,850.60	21,517.83	27,973.66
	d. Unallocated
	Total	83,361,30	98,267.68	80,765.97	83,361.30	80.765.97	113,633.03
b.	(Segment Liabilities)
	a. Sugar	20,693.77	36,746.18	30,402.96	20,693.77	30,402.96
	b. Power	712.49	1,189.62	9.332.67	712.49		58,436.77
	c. Distillery	7,649.78	7,056.37	8,362.01		9,332.67	779.31
	d. Unallocated			5,887,27	7,649.78	8,362.01	6,168.59
	Total	29,056.04	44,992.17	53,984.91		5,887.27
$C_{\star}$	Capital Employed	54305.26	53275.51	26781.06	29,056.04	53,984.91	65,384.67
					54305.26	26781.06	48248.36

For RANA SUGARS LIMITED

RANA VEER PRATAP SINGHDIRECTORDIN: 00076808

Date: 12.11.2021Place: Chandigarh

J.

ASHWANI K GUPTA E ASSOCIATES

CHARTERED ACGOUNTANTS

H.No. 1044-A, Sector-Z, Panchkula Ph.: 01 72-4183664, Mob.: 9888398905 E-mail : ashwanigupta5S@gmail.com

independent Auditor's Review Report on the Unaudited Standalone Ind AS Financial Results for the Quarterly and Six months ended September 30. 2021 of RANA SUGARS LIMITED pursuant to the Regulation 33 of the SEBI (Listing Oblisations and Disclosure Reouirements) Resulations. 2Ol5 as amended

To The Board of Directors, Rana Sugars Limited

• L. We have reviewed the accompanying Statement of Standalone Unaudited Ind AS Financial Results of Rana Sugars Limited ["the Company") for the quarter ended September 30, 2027 and year to date from April 01,, 2021, to September 30, 2021, ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI [Listing 0bligations and Disclosure Requirements) Regulations, 201,5, as amended.
• 1. This Statementwhich is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the reeognition and measurement principles laid down in the Indian Accounting Standard 34, "lnterim Financial Reporting" ("lnd AS 34"), prescribed under section 133 of the Companies Act, 20L3 read with relevant rules issued thereunder and other accounting principles generally accepted in India.Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements [SRE) 241-0, "Review of Interim Financial Information Performed bythe Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India (ICAI).This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

4' Based on our review conducted as stated in paragraph 3 above and subject to the effects of the matters described in Paragraph 4above, nothing has come to our attention that causes us to believe that the accompanying statement of the unaudited financial results read with notes thereon, prepared in accordance with the recognition and measurement principles laid down in aforesaid Indian Accounting Standardand other Accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI [Listing Obligations & Disclosure Requirements) Regulations, 20L5, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

t Pa

;lM, No. 091721

Place: Panchkula Dated: 12-Nov-2021, U D I N : 2109 t7 2 1 A NU\MP 487 7

For Ashwani K. Gupta Associates 'Chartered Accountants