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Rana Sugars Ltd. Interim / Quarterly Report 2021
61843_rns_2021-07-16_9f245310-13be-460e-9f4f-b7697edcc3ba.pdf
Interim / Quarterly Report
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REGD. OFFICE: S.C.0.49-50, SECTOR 8-C, MADHYA MARG CHANDIGARH- 160 009 (INDIA) CIN: L15322CH1991PLC011537, Website: www.ranasugars.com, E-mail: [email protected] TEL.: 0172-2540007, 2549217, 2541904, 2779565, 2773422, FAX: 0172-2546809
RSL/21-22/CS 16th Day of July, 2021
To,
The BSE Limited, Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai-400001. Bandra (E), Mumbai- 400051.
Department of Corporate Services (DCS) National Stock Exchange of India Limited
Ref: Scrip Code: 507490, Company Symbol: RANASUG
Sub: Compliance under Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Sir/Ma'am,
Pursuant to the Regulation 23(9) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the disclosure of Related Party Transactions on a consolidated basis, in the format specified in the relevant accounting standards for the half year period from 1st October, 2020 to 31st March, 2021.
You are requested to kindly take the above on your records.
Thanking you,
Yours sincerely, For RANA SUGARS LIMITED
MANMOH AN KUMAR RAINA Digitally signed by MANMOHAN KUMAR RAINA Date: 2021.07.16 15:15:22 +05'30'
MANMOHAN K RAINA
Company Secretary cum Compliance Officer
Encl: As above
RELATED PARTY DISCLOSURE FOR RANA SUGARS LIMITED ON A CONSOLIDATED BASIS FOR THE HALF YEAR ENDED MARCH 31, 2021
Name of the related parties and description of relationship: -
(i) Associate Companies
- a) Rana Polycot Ltd.
- b) Rana Informatics Ltd.
- c) RSL Distilleries Pvt. Ltd.
- d) Rana Power Ltd.
- e) Lakshmiji Sugars Mills Company Ltd.
- f) Superior Foods Grains Pvt. Ltd.
- g) Rana Logistics & Transport Pvt. Ltd.
- h) Karimganj Biofuels Pvt. Ltd.
- i) Buttar Biofuels Pvt. Ltd.
(ii) Key Managerial Personnel (KMP) and Directors
- a) Rana Ranjit Singh Chairman
- b) Rana Inder Pratap Singh Managing Director
- c) Rana Veer Pratap Singh Director
- d) Shivavtar Singh Bajwa Independent Director
- e) Baljit Singh Independent Director
- f) Navpreet Kaur Independent Director
- g) Gaurav Garg Chief Financial Officer
- h) M. K. Raina Company Secretary
(INR in Lakhs)
| Particulars | Sales torelatedparties | Purchasesfrom relatedparties | Amounts owedby relatedparties | Amounts owedto relatedparties |
|---|---|---|---|---|
| Rana Polycot Ltd. | - | - | - | - |
| Rana Informatics Ltd. | - | 30.51 | - | 19.79 |
| RSL Distilleries Pvt. Ltd. | 10.76 | 503.74 | - | 235.50 |
| Rana Power Ltd. | 0.46 | 0.46 | - | - |
| Lakshmiji Sugars Mills Company Ltd. | 139.84 | 1997.95 | - | 65.25 |
| Superior Foods Grains Pvt. Ltd. | 74.61 | 2554.59 | - | 2311.60 |
| Rana Logistics & Transport Pvt. Ltd. | - | 230.28 | - | 46.22 |
| Directors | - | - | - | 15.00 |
| Relatives of Directors | - | - | - | - |
| (INR in Lakhs) | ||
|---|---|---|
| Nature of transaction/ Name of the related party | 31 March 2021 | 31 March 2020 |
| Carrying amount of investments made: | ||
| Karimganj Biofuels Pvt. Ltd. | 0.10 | 0.00 |
| Buttar Biofuels Pvt. Ltd. | 0.10 | 0.00 |
| Total | 0.20 | 0.00 |
| Key Management Personnel | Term | Short TemEmployeeBenefits | PostEmploymentBenefits | Sitting Fees |
|---|---|---|---|---|
| INR In lakhs | ||||
| Gaurav Garg (C.F.O ) | 09-02-2021 to 31-03-2021 | 2.93 | - | - |
| R.S. Balasubramanyam (C.F.O) | 01-10-2020 to 10-11-2020 | 10.86 | - | - |
| M.K. Raina (Company Secretary) | 01-10-2020 to 31-03-2021 | 11.05 | - | - |
| Baljit Singh – Director | 01-10-2020 to 31-03-2021 | - | - | 0.20 |
| Navpreet Kaur – Director | 01-10-2020 to 31-03-2021 | - | - | 0.10 |
| Shivavtar Singh Bajwa – Director | 01-10-2020 to 31-03-2021 | - | - | 0.10 |
Note: Mr. Gaurav Garg has been appointed as Chief Financial Officer in place of Mr. R.S. Balasubramanyam w.e.f. 09th February 2021
The amounts disclosed in the table relating to employee benefits are the amounts recognised as an expense during the reporting period related to key management personnel. The remuneration to the Key Management Personnel does not include the provision for gratuity and leave benefits, as they are determined on an actuarial basis for the Company as a whole.
Terms and conditions of transactions with related parties
The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2021, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (March 31, 2020: INR Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.