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Sukhjit Starch & Chemicals Ltd. Annual Report 2023

May 27, 2023

61368_rns_2023-05-27_7fc79518-635c-4434-afed-7e17a9a80828.pdf

Annual Report

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THE SUKHJIT STARCH AND CHEMICALS LIMITED

CVOt.VJNG W(TH NATURE

Ref: SSC/VPF /BSE/2023-24/ ;JJoJ

Dt: 27/05/2023

BYE-FILING

To, To, The General Manager-Listing Department The General Manager-Listing Department BSE Limited The National Stock Exchange of India Limmted 25th Floor, P.J. Towers, Exchange Plaza, 5[th ] Floor, Dalal S�reet, Fort, Plot No. C/1, G Block, Bandra Kurla Complex, MUMBAI• 40'0 001 Sandra (E), Muma bi- 400 051 Ref: Security Code: 524542 Ref: Symbol: SUKHJITS

Re: Outcome of the Board Meeting held of date (Meeting commenced at 12:00 noon and concluded at 2:10 P.M) Pursuant to Regulation 33 to the SEBI (LODR) Regulation, 201s

Dear Sir,

The Board at its meeting held today, inter-alia transacted the following items of business:

1. Financial Results

  • a) Approved the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 3pt March, 2023.

  • b) Approved the Audited Financial Statements (Standalone and Consolidated) of the Company for the year ended 31 [s][t ] March, 2023.

A copy of the said Financial Results along with the Auditor's Report, the declaration concerning regulation 33(3)(d) of SEBI (LODR) Regulations, 2015 and a copy of extract of the Quarterly/ Yearly results to be published in newspaper are enclosed for your information and record. The same is being uploaded on the Company's website at www.sukhjitgroup.com.

2. Declaration of Dividend

The Company has paid Interim Dividend @ 80% i.e. Rs. 8/- per equity share of face value of Rs. 10/­ each in December, 2022, the Board has considered the same as the dividend for the financial year 2022-23.

3. Others:

  • a) The 79[th ] Annual General Meeting of the members of the Company has been fixed to be held on Friday, the 11[th ] day of August, 2023 at Phagwara.

  • b) Book closure for the purpose of AGM will be from 05.08.2023 to 11.08.2023 (both days inclusive).

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ISO 9001:200 c�lJl[t ] • "[2 ] & FSSC:22000 Comp,ooy

T +911824 468800, 260314 F +911824 261669, 262077 E [email protected] C/N: Ll5321PB1944PlC002925

SARAI ROAD, PHAGWARA DISTTT. KAPURTHALA PUNJAB 144 401, !NOIA

WWW.SUKHJITGROUP.COM

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THE SLJl,(HJIT STARCH AND CHEMICALS LIMITED

f'\IOtYING WITH NATURE

: 2

  • c) Re-appointment of Sh. Tarsem Singh LaJiy, Non Executive Independent Director of the Company for a further period of 3 years i.e. w.e.f. 13/08/2023 to 12/08/2026 subject to approval of the shareholders in the ensuing AGM.

  • d) Re-appointment of Sh. M.G. Sharma, Executive Director (Fin.) & CFO of the Company for a further period of 3 years i.e. w.e.f. 01/06/2023 to 31/05/2026 subject to approval of the shareholders in th'e ensuing AGM.

  • e) The Board has approved the re appointment of M/s. Dinesh Gupta & Company, Practicing Company Secretaries, Jalandhar as Secretarial Auditors of the Company in compliance with the provisions of Section 204 of The Companies Act, 2013 to conduct Secretarial Audit of the Company for the financial year ending 31/03/2024 at the mutually agreed terms of appointment and remuneration.

  • t) The Board has approved the re appointment of M/s Kushwinder Kumar & Associates, Cost Accountants as Cost Auditors to conduct Cost Audit of the Company for the financial year ending 31/03/2024 at the mutually agreed terms of appointment and remuneration & subject to ratification by the Shareholders in the ensuing Annual General Meeting, pursuant to the provisions of the section 148 and any other applicable provision of the Companies Act, 2013 read with the Companies Act (Audit & Audito,r) Rules, 2014, including any statutory modification(s) or re-enactment(s) thereof & subject to the approval of Central Government (if required).

You are requested to kindly take note of the same and place the same on your website.

Thanking You,

Yours Faithfully,

FOR THE SUKHJIT STARCH & CHpMICALS LTD

Li.�� KULDfPKRIS� � ;\ (MANAGING DIRECTOR) �\: "'•,� � Ends: As above

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KULDIP Digitally signed by KULDIP KRISHAN KRISHAN SARDANA Date: 2023.05.27 SARDANA 14:43:57 +05'30'

150 9001:200 Certified & FS�C:22000 Company

T +911824 468800, 260314 F +911824 261669, 262077 E [email protected] CIN: L15321PB1944PlC00192S

SARAI ROAD, PHAGWARA DISTTT. KAPURTHALA PUNJAB 144 401, INDIA

WWW.SUKHJITGROUP.COM

THE SUKHJIT ST ARCH & CHEMICALS LIMITED

Rs. (In Crores)

REGD. OFFICE : PHAGWARA • 144 401

AUDITED FINANCIAL RESULTS FOR THE QUARTER/YEAR ENDED 31 ST MARCH, 2023

Particulars
Standalone
for Three
Months
ended
31.03.2023
(Audited)
Standalone
Standalone
Standalone
Standalone
for Preceding
forCorresponding
for Accounting
for Accounting
Three
Three Months
year ended
year ended
Months
(in the prev.
31.03.2023
31.03.2022
ended
year) ended
31.12.2022
31.03.2022
(Unaudited)
(Audited)
(Audited)
(Audited)		 Particulars
Standalone
for Three
Months
ended
31.03.2023
(Audited)
Standalone
Standalone
Standalone
Standalone
for Preceding
forCorresponding
for Accounting
for Accounting
Three
Three Months
year ended
year ended
Months
(in the prev.
31.03.2023
31.03.2022
ended
year) ended
31.12.2022
31.03.2022
(Unaudited)
(Audited)
(Audited)
(Audited)
1Revenue from Operations
391.06
339.38
352.56
1,435.25
1,156.76
2Other Income
0.62
0.75
0.05
1.72
1.64
3
Total lncome(1+2)
391.68
340.13
352.61
1,436.97
1,158.40
4Expenses
a)Cost of Material Consumed
270.91
247.55
231.44
1,009.81
737.50
b)Changes in Inventories of Finished Goods and Work-In-Progress
8.75
(17.64)
5.58
(24.45)
12.71
c) Employee Benefits Expense
14.01
15.22
13.17
57.69
52.41
d)Finance Costs
7.29
5.80
4.62
25.33		 20.88
e)Depreciation and amortisation expense
8.03
6.10
6.74
26.63		 24.74
f)Other Expenditure
61.90
62.82
54.80
249.22
202.75
Total Expenses(4)
370.89
319.85
316.35
1,344.23
1,050.99
5ProfitI{Loss) before Exceptional item and tax(3-4)
20.79
20.28
36.26
92.74
107.41
6Exceptional items
~~-~~
~~-~~
~~-~~
~~-~~
-
7Profit/(Loss) before tax(5-6)
20.79
20.28
36.26
92.74
107.41
8Tax Expenses
i)Current Tax
2.60
4.10
10.00
18.30		 25.00
ii)Deferred Tax
2.50
0.60
1.10
4.30		 2.60
iii)Taxes related to earlieryears
-
-
2.52
-		 2.52
9ProfitI(Loss) for theperiod(7-8)
15.69
15.58
22.64
70.14
77.29
10Other Comprehensive Income(OCI)
a)Items that will not be reclassified toprofit or loss
0.62
(0.10)
1.35
0.22
0.15
b)Income tax on items that will not be reclassifed toproft or loss
(0.16)
0.02
(0.34)
(0.06)		 (0.04)
c)Items that will be reclassified toprofit or loss
0.77
1.35
0.48
2.96		 0.96
d)Income tax on items that will be reclassifed toprofit or loss
(0.20)
(0.33)
(0.12)
(0.75)		 (0.24)
Total Comprehensive Income for theperiod
(.
1
16.72
16.52
24.01
72.51
78.12
11Paid upEquityShare Capital(Face Value of Rs. 10 each)
~~"~~
/c /"-
~~'~~
15.62
';.

15.62
15.62
15.62
15.62

12Reserve ExcludingRevaluation Reserve
~~//~~V~~J�-~~
\~~'~~
'.\,I

468.88
409.17


(Asper Balance sheet of Previous AccountingYear)
Y
~~.� \ ~~i~~:-~~
(.
l.
• .J

13
Earning Per Share(Rs.) (Not Annualised)
�" ·t ~~�v· ~~,~~,,/~~:,l
Basic
"�3G\'�'
'10.04

9.97
14.49
44.90
49.47
Diluted
~~.~~
10.04
9.97
14.49
44.90
49.47

THE SUKHJIT STARCH & CHEMICALS LIMITED

REGO. OFFICE : PHAGWARA -144 401

Statement of Assets & Liabilities

THE SUKHJIT STARCH&CHEMICALS LIMITED
REGO. OFFICE : PHAGWARA -144 401
 THE SUKHJIT STARCH&CHEMICALS LIMITED
REGO. OFFICE : PHAGWARA -144 401
 THE SUKHJIT STARCH&CHEMICALS LIMITED
REGO. OFFICE : PHAGWARA -144 401
 THE SUKHJIT STARCH&CHEMICALS LIMITED
REGO. OFFICE : PHAGWARA -144 401
 THE SUKHJIT STARCH&CHEMICALS LIMITED
REGO. OFFICE : PHAGWARA -144 401
Statement of Assets & Liabilities
Particulars
Assets
Rs. (In Crores)
Standalone as atStandalone as at
31.03.2023
31.03.2022
(Audited)
(Audited)
- 1 Non-current assets
Propery,Plant and Equipment
408.19
357.06
a)
b) Right to Use Assets
4.08
3.25
c)
Capital work-in-progress

16.38
63.88
d) Investment Propery
Other Intangible assets
21.27
20.36
~~-~~-�
0,03
0.03
e)
f) Financial Assets
i)
Investments.
38.53
38.53
g) Other non-current assets
24.05
24.20
2 Current Assets
Inventories
167.67
96.05
a)
b) Financial Assets
i) Investments
77.52
65.91
ii) Trade receivables
iii) Cash and cash equivalents
80.49
66.97
1.27
1.14
iv) Bank balances other than iii. above
11.01
10.69
v) Other Loan & Advances
38.32
32.48
c) Income Tax Asset(Net)
1.15
~~-~~
d) Other Current Assets
Total Assets
14.87
2.14
904.83
782.69
EQUITY AND LIABILITIES
E
a) EquityShare capital
15.62
15.62
b) Other Equity
468.88
409.17
c) MinorityInterest
~~-~~
~~-~~
Liabilities
1
a)		 Non-current Liabilites
Financial Liabilites
i)Borrowings
100.62
115.96
b) Lease Liability
5.16
3.96
c) Deffered Tax Liability (Net)
30.30
25.29
d) Government Grant(s)
0.70
0.74
e) Other non-current Liabilites
16.24
17.04
2 Current Liabilites
a) Financial Liabilites
Borrowings
195.00
128.54
Trade Payables
i) Micro,Small & Medium Enterprises
3.63
3.75
b) ii)Others
49.36
43.03
Income Tax Liability (Net)
~~-~~
2.14
c) Other current Liabilites
Tnt:l ln11itv :nt I i�hilitipc
19.32
17.45
!04.R3
782.69

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THE SUKHJIT STARCH & CHEMICALS LTD., PHAGWARA Cash Flow Statement

CashFlowStatement
IFlows from 01erating activities
Net Profit before tax
Adjustments for non-cash items
Depreciation
Interest on Lease Liability
Provision
Adjustments for non ogerating activities
Interest received
Interest paid
Apportionment of Deferred Income
(Profit) Loss on sale of investments/assets
Flows fromogerationsbeforeworking cagital changes
Changes in working cagital
Trade and other receivables
Inventories
Trade payables
Other Liabilities
IIFlows from OQerating activities
Net Direct Taxes Paid
Net Flows from operating activities
(A)
Flows from investing activities
Purchase of fixed assets
Other investments
Sale/Purchase of investments/assets
Acquition of Miniority Interest
Interest received
Net Flows from investing activities
(B)
Ill Flows from financing activities
Loans raised for working capital
Term Loans raised
Repayment of Term Loan
Other Loans raised/(repaid)
Dividends paid(including DDT)
Equity Share Capital and security premium
Lease Liability
Interest paid
Net Flows from financing activities
(C)
Net Cash Flows during the year
(A+B+C)
Cash ! Cash equivalents at the beginning of the year
Cash&Cash equivalents at the end of the year		 /Rs. Croresl
Standalone
for the year
ended
31/03/2023
(Audited)
92.74
26.63
0.50
(0.09)
(0.65)
24.39
(0.04)
(1.00)
142.48
(31.99)
(71.62)
6.21
1.95		 Standalone
for the year
ended
31103/2022
(Audited)
107.41
24.74
0.39

0.11

(0.59)
20.01

(0.04)

<0.54'
151.11

(3.46)
4.80
5.67
5.78
47.03
(18.88)
28.15
(34.77)
(12.37)
5.62
-
0.65		 163.90

(22.77)
141.13

(26.79)

(78.73)
1.75
-
0.59
(40.87)
66.46
-
(20.09)
3.94
(12.57)
-
(0.18)
(24.39)
13.17
0.45
11.83
12.28
(103.18)
22.47
10.00

(45.10)
(11.98)

(18.95)
25.87

(0.17)

(20.01)
(37.87)
0.08
11.75
11.83

==> picture [109 x 100] intentionally omitted <==

Notes:

  • (i) These results, reviewed by the Audit Commitee have been taken on record by the Board of Directors in their meeting held on Saturday, the 27th day of May, 2023.

  • (ii) The Financial results have been prepared in accordance with the Companies Indian Accounting Standards (Ind AS) , in persuance to the provisions of section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India.

  • {iii) Figures for the previous year I periods have been regrouped / recast/ rearranged to make the same comparable with current period figures.

  • (iv) The Company manufacturers starch & its derivatives, a single segment as per Ind AS-108.

  • (v) The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the financial year.

Place : Phagwara Dated : 27th May,2023

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==> picture [62 x 39] intentionally omitted <==

Yaginder Kumar Sud B. Com. F.C. A

Y.K.SUD & CO.

(CHARTERED ACCOUNTANTS) (A Peer Reviewed Firm, No:- 014348) Ambika Towers,4 [1h ] Floor, Police Lines Rd. JALANDHAR 144 001 Phone: off: 2220220, 2224174 Fax:0181-5007172

Independent Auditors' Report on the Quarterly and Year to Date Standalone Audited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To

The Board of Directors of The Sukhjit Starch & Chemicals Limited, Sarai Road, Phagwara

Report on the Audit of the Standalone Financial Results.

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of The Sukhjit Starch & Chemicals Limited (the "Company") for the quarter and year ended March 3 1, 2023 ("Statement") attached herewith, bring submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

(i) is presented in accordance with the requirements of the Listing Regulations in this regard; and

(ii) gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generaJiy accepted in India, of the net profit, other comprehensive income and other financial information of the Company for the quarter and the year ended March 31,2023.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143( I 0) of the Companies Act, 2013, as amended ("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 Company in accordance with the Code of Ethics issued by the Institute of Cha�ered Accountants of India together with the ethical requirements that are relevant to our audit of the financial

==> picture [163 x 86] intentionally omitted <==

Yaginder Kumar Sud B. Com. F.C. A

Y.K.SUD & CO.

(CHARTERED ACCOUNTANTS} (A Peer Reviewed Firm, No:- 014348)

Ambika Towers,4 [th ] Floor, Police Lines Rd. JALANDHAR 144 001 Phone:off:2220220,2224174 Fax: 0181-5007172

statements under the provisions of the Act 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 obtained by us is sufficient and appropriate to provide a basis for our opinion.

l\fanagcment's Responsibilities for the Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act, read with relevant Rules issued there under and other accounting principles generally accepted in Indian and in compliance with Regulation 33 of the Listing Regulations.

The responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accoutring policies; making judgments and estimates that are reasonable and prudent; and the 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, 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.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is to free from material misstatement, whether due fraud or error, and to issue an auditor's

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Y.K.SUD & CO.

(CHARTERED ACCOUNTANTS) (A Peer Reviewed Firm, No:- 014348)

Yaginder Kumar Sud B. Com. F.C. A

Ambika Towers,4' h Floor, Police Lines Rd. JALANDHAR 144 001 Phone:off:2220220,2224174 Fax: 0181-5007172

report thnt 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 it: individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As pmt of an audit in accordance with Standards on Auditing (SAs), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

  • JdentitY and assess the risks of material misstatement of the Statement, 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 f[r] aud 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. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

  • 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, 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 statements 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 overaJJ presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

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==> picture [32 x 15] intentionally omitted <==

Y.K.SUD & CO.

(CH/\RTEHED ACCOUNTANTS) (A Peer Reviewed Firm, No:- 014348)

Yaginder Kumar Sud B. Corn. F.C. A

Amb kn tower .4 "' Floor, Police Lines Rd. JJ\LAl'JOHI\R t1tit 00.l Phon�: oH: 1220220, 2224174 F�x:0181-5007172

\ c ommunicntc with tho�c charged with �ov mnn ·c rcgatding, nrt10n other matters, the plarrnccf scope n11d 1i111ing c rthc m1dit and �ii�nificont oudit findit1gs. includir(g any ignifrcc1nt dclicicncie� in internal control thnt we identify during out audit.

\ · nLo provide those chnrgcd with governance with a statement that we have complied with r·clcvnnt cthicnl requirements rcgnrding independence. nnd to communicate with them all r lationships nnd other nrnttcrc;; thnt may reasonably be thought to bear on our independence. nnd where applicable. related snfogunrds.

Other matter

The Statement includes the results for the quarter ended March 31, 2023 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2023 and the published unaudited year to date figures up to the third quarter of the current financial year. which were su�jccted to a limited review by us, as required under the Listing Regulations. Our opinion on the statement is not modified in respect of this matter

FOR Y K SUD & CO

Chartered Accoun

Place : Jalandhar Date: May 27,2023

(YKSUD) Proprietor Membership No 1 Firm's Registration No.000047N UDIN: 23016875BGWN\VX1936

==> picture [319 x 111] intentionally omitted <==

Rs. (In Crores)

THE SUKHJIT ST ARCH & CHEMICALS LIMITED

REGO. OFFICE : PHAGWARA -144 401

AUDITED FINANCIAL RESULTS FOR THE QUARTER/ YEAR ENDED 31 ST MARCH, 2023

Particulars
1Revenue from Operations
2Other Income
Consolidated
for Three
Months
ended
31.03.2023
(Audited)
391.26
0.90
Consolidated
for Preceding
Three
Months
ended
31.12.2022
(Unaudited)
346.60
1.13
Consolidated
for Corresponding
Three Months
(in the prev.
year) ended
31.03.2022
(Audited)
353.02
-
Consolidated
Consolidated
for Accounting
for Accounting
year ended
year ended
31.03.2023
31.03.2022
(Audited)
(Audited)
1,446.57
1,158.97
3.05
3.09		 Particulars
1Revenue from Operations
2Other Income
Consolidated
for Three
Months
ended
31.03.2023
(Audited)
391.26
0.90
Consolidated
for Preceding
Three
Months
ended
31.12.2022
(Unaudited)
346.60
1.13
Consolidated
for Corresponding
Three Months
(in the prev.
year) ended
31.03.2022
(Audited)
353.02
-
Consolidated
Consolidated
for Accounting
for Accounting
year ended
year ended
31.03.2023
31.03.2022
(Audited)
(Audited)
1,446.57
1,158.97
3.05
3.09		 Particulars
1Revenue from Operations
2Other Income
Consolidated
for Three
Months
ended
31.03.2023
(Audited)
391.26
0.90
Consolidated
for Preceding
Three
Months
ended
31.12.2022
(Unaudited)
346.60
1.13
Consolidated
for Corresponding
Three Months
(in the prev.
year) ended
31.03.2022
(Audited)
353.02
-
Consolidated
Consolidated
for Accounting
for Accounting
year ended
year ended
31.03.2023
31.03.2022
(Audited)
(Audited)
1,446.57
1,158.97
3.05
3.09
353.02
1,446.57
1,158.97
-
3.05
3.09
3
Total lncome(1+2)
392.16
347.73		 353.02
1,449.62
1,162.06
4Expenses
a)Cost of Material Consumed
274.66
248.72		 238.90
1,014.18
744.23
b)Changes in Inventories of Finished Goods and Work-In-Progress
2.19
(13.17)		 (2.24)
(24.84)
4.54
c) Employee Benefits Expense
14.98
15.90		 13.98
60.61
54.28
d)Finance Costs
7.96
6.86		 5.20
28.28
23.84
e)Depreciation and amortisation expense
8.91
8.81		 8.78
35.63
35.04
DOther Expenditure 61.80
63.06		 53.09
249.53
198.19
Total Expenses(4)
370.50
330.18		 317.71
1,363.39
1,060.12
5Profit/(Loss) before Exceptional item and tax(3-4)
21.66
17.55		 35.31
86.23
101.94
6Exceptional items
-
7Profit/(Loss) before tax(5-6)
21.66
17.55		 35.31
86.23
101.94
8Tax Expenses
i)Current Tax
2.60
4.10		 10.00
18.30
25.00
ii) Deferred Tax
4.21
0.10		 0.08
4.51
1.58
iii)Taxes related to earlieryears
0.05
-		 2.52
0.05
2.52
9Profit/(Loss) for theperiod(7-8)
14.80
13.35		 22.71
63.37
72.84
10Other Comprehensive Income(OCI)
a)Items that will not be reclassified toprofit or loss
0.62
(0.10)		 1.35
0.22
0.15
b)Income tax on items that will not be reclassified toprofit or loss
(0.36)
0.02		 (0.34)
(0.06)
(0.04)
c)Items that will be reclassified toprofit or loss
0.77
1.35		 0.48
2.96
0.96
d) Income tax on items that will be reclassified to profit or loss
Total Comprehensive Income for the period
11Paid up Equity Share Capital (Face Value of Rs. 10 each)
I
12Reserve ExcludingRevaluation Reserve
~~#,Ul� ~~
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(0.20)
.<��r-.·. ,".15.63
/->/.-
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(0.33)
14.29
15.62		 (0.12)
(0.75)
(0.24)
24.08
15.62
65.74
73.67
15.62
15.62
449.91
396.96

(Asper Balance sheet of Previous AccountingYear)
~~-~~



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13EarningPer Share(Rs.) (Not Annualised)
~~-~~


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�m:J�9.48
8.55		 14.54
40.56
46.63
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THE SUKHJrT STARCH & CHEMICALS LIMrTED REGO. OFFICE : PHAGWARA -144 401 Statement of Assets & Liabilities

- -·
1
a)
b)
c)
d)
e)
Statement of Assets & Liabilities
Particulars
Assets
Non-current assets
Property,Plant and Equipment
Right to Use Assets
Capital work-in-progress
Investment Property
Other Intangible assets
f) Financial Assets
i)
Investments
g)Other non-current assets
2
Current Assets
a) Inventories
b) Financial Assets
i)Investments
ii) Trade receivables
iii) Cash and cash equivalents
iv) Bank balances other than iii. above
v) Other Loan & Advances
c) Income Tax Asset(Net)
d)Other Current Assets
EQUITY AND LIABILITIES
�
a) EquityShare capital
b) Other Equity
C)
MinorityInterest
Liabilities
1
Non-current Liabilites
a) Financial Liabilites
i) Borrowings
b) Lease Liability
c) Deffered Tax Liability (Net)
d) Government Grant(s)
e) Other non-current Liabilites
2
Current Liabilites
a) Financial Liabilites
Borrowings
Trade Payables
i) Micro,Small & Medium Enterprises
ii)Others
b)
Income Tax Liability (Net)
c) Other current Liabilites
Total Assets
Tnt' Snuitu �nr I i:hilifioc
Consolidated as
at 31.03.2023
(Audited)
527.66
9.67
16.52
21.71
0.03
0.01
2.95
178.94
77.52
80.71
1.59
11.02
8.31
1.49
15.13
953.26
15.62
449.91
0.01
110.62
12.97
29.10
32.66
16.53
208.66
3.72
54.13
~~-~~
19.33
Q/� ?!
Rs. (In Crores)
Consolidated as
at 31.03.2022
(Audited)
483.46
9.06
63.88
20.80
0.03
0.01
2.98
108.32
65.91
67.39
1.42
10.70
12.39
~~-~~
2.42
848.77
15.62
396.96
0.01
133.96
11.36
23.88
34.03
17.25
142.54
4.04
49.99
1.67
17.46
14177
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1
a)
b)
c)
d)
e)
Statement of Assets & Liabilities
Particulars
Assets
Non-current assets
Property,Plant and Equipment
Right to Use Assets
Capital work-in-progress
Investment Property
Other Intangible assets
f) Financial Assets
i)
Investments
g)Other non-current assets
2
Current Assets
a) Inventories
b) Financial Assets
i)Investments
ii) Trade receivables
iii) Cash and cash equivalents
iv) Bank balances other than iii. above
v) Other Loan & Advances
c) Income Tax Asset(Net)
d)Other Current Assets
EQUITY AND LIABILITIES
�
a) EquityShare capital
b) Other Equity
C)
MinorityInterest
Liabilities
1
Non-current Liabilites
a) Financial Liabilites
i) Borrowings
b) Lease Liability
c) Deffered Tax Liability (Net)
d) Government Grant(s)
e) Other non-current Liabilites
2
Current Liabilites
a) Financial Liabilites
Borrowings
Trade Payables
i) Micro,Small & Medium Enterprises
ii)Others
b)
Income Tax Liability (Net)
c) Other current Liabilites
Total Assets
Tnt' Snuitu �nr I i:hilifioc
Consolidated as
at 31.03.2023
(Audited)
527.66
9.67
16.52
21.71
0.03
0.01
2.95
178.94
77.52
80.71
1.59
11.02
8.31
1.49
15.13
953.26
15.62
449.91
0.01
110.62
12.97
29.10
32.66
16.53
208.66
3.72
54.13
~~-~~
19.33
Q/� ?!
Rs. (In Crores)
Consolidated as
at 31.03.2022
(Audited)
483.46
9.06
63.88
20.80
0.03
0.01
2.98
108.32
65.91
67.39
1.42
10.70
12.39
~~-~~
2.42
848.77
15.62
396.96
0.01
133.96
11.36
23.88
34.03
17.25
142.54
4.04
49.99
1.67
17.46
14177
I.,�-
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1
a)
b)
c)
d)
e)
Statement of Assets & Liabilities
Particulars
Assets
Non-current assets
Property,Plant and Equipment
Right to Use Assets
Capital work-in-progress
Investment Property
Other Intangible assets
f) Financial Assets
i)
Investments
g)Other non-current assets
2
Current Assets
a) Inventories
b) Financial Assets
i)Investments
ii) Trade receivables
iii) Cash and cash equivalents
iv) Bank balances other than iii. above
v) Other Loan & Advances
c) Income Tax Asset(Net)
d)Other Current Assets
EQUITY AND LIABILITIES
�
a) EquityShare capital
b) Other Equity
C)
MinorityInterest
Liabilities
1
Non-current Liabilites
a) Financial Liabilites
i) Borrowings
b) Lease Liability
c) Deffered Tax Liability (Net)
d) Government Grant(s)
e) Other non-current Liabilites
2
Current Liabilites
a) Financial Liabilites
Borrowings
Trade Payables
i) Micro,Small & Medium Enterprises
ii)Others
b)
Income Tax Liability (Net)
c) Other current Liabilites
Total Assets
Tnt' Snuitu �nr I i:hilifioc
Consolidated as
at 31.03.2023
(Audited)
527.66
9.67
16.52
21.71
0.03
0.01
2.95
178.94
77.52
80.71
1.59
11.02
8.31
1.49
15.13
953.26
15.62
449.91
0.01
110.62
12.97
29.10
32.66
16.53
208.66
3.72
54.13
~~-~~
19.33
Q/� ?!
Rs. (In Crores)
Consolidated as
at 31.03.2022
(Audited)
483.46
9.06
63.88
20.80
0.03
0.01
2.98
108.32
65.91
67.39
1.42
10.70
12.39
~~-~~
2.42
848.77
15.62
396.96
0.01
133.96
11.36
23.88
34.03
17.25
142.54
4.04
49.99
1.67
17.46
14177
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1
a)
b)
c)
d)
e)
Statement of Assets & Liabilities
Particulars
Assets
Non-current assets
Property,Plant and Equipment
Right to Use Assets
Capital work-in-progress
Investment Property
Other Intangible assets
f) Financial Assets
i)
Investments
g)Other non-current assets
2
Current Assets
a) Inventories
b) Financial Assets
i)Investments
ii) Trade receivables
iii) Cash and cash equivalents
iv) Bank balances other than iii. above
v) Other Loan & Advances
c) Income Tax Asset(Net)
d)Other Current Assets
EQUITY AND LIABILITIES
�
a) EquityShare capital
b) Other Equity
C)
MinorityInterest
Liabilities
1
Non-current Liabilites
a) Financial Liabilites
i) Borrowings
b) Lease Liability
c) Deffered Tax Liability (Net)
d) Government Grant(s)
e) Other non-current Liabilites
2
Current Liabilites
a) Financial Liabilites
Borrowings
Trade Payables
i) Micro,Small & Medium Enterprises
ii)Others
b)
Income Tax Liability (Net)
c) Other current Liabilites
Total Assets
Tnt' Snuitu �nr I i:hilifioc
Consolidated as
at 31.03.2023
(Audited)
527.66
9.67
16.52
21.71
0.03
0.01
2.95
178.94
77.52
80.71
1.59
11.02
8.31
1.49
15.13
953.26
15.62
449.91
0.01
110.62
12.97
29.10
32.66
16.53
208.66
3.72
54.13
~~-~~
19.33
Q/� ?!
Rs. (In Crores)
Consolidated as
at 31.03.2022
(Audited)
483.46
9.06
63.88
20.80
0.03
0.01
2.98
108.32
65.91
67.39
1.42
10.70
12.39
~~-~~
2.42
848.77
15.62
396.96
0.01
133.96
11.36
23.88
34.03
17.25
142.54
4.04
49.99
1.67
17.46
14177
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1
a)
b)
c)
d)
e)
Statement of Assets & Liabilities
Particulars
Assets
Non-current assets
Property,Plant and Equipment
Right to Use Assets
Capital work-in-progress
Investment Property
Other Intangible assets
f) Financial Assets
i)
Investments
g)Other non-current assets
2
Current Assets
a) Inventories
b) Financial Assets
i)Investments
ii) Trade receivables
iii) Cash and cash equivalents
iv) Bank balances other than iii. above
v) Other Loan & Advances
c) Income Tax Asset(Net)
d)Other Current Assets
EQUITY AND LIABILITIES
�
a) EquityShare capital
b) Other Equity
C)
MinorityInterest
Liabilities
1
Non-current Liabilites
a) Financial Liabilites
i) Borrowings
b) Lease Liability
c) Deffered Tax Liability (Net)
d) Government Grant(s)
e) Other non-current Liabilites
2
Current Liabilites
a) Financial Liabilites
Borrowings
Trade Payables
i) Micro,Small & Medium Enterprises
ii)Others
b)
Income Tax Liability (Net)
c) Other current Liabilites
Total Assets
Tnt' Snuitu �nr I i:hilifioc
Consolidated as
at 31.03.2023
(Audited)
527.66
9.67
16.52
21.71
0.03
0.01
2.95
178.94
77.52
80.71
1.59
11.02
8.31
1.49
15.13
953.26
15.62
449.91
0.01
110.62
12.97
29.10
32.66
16.53
208.66
3.72
54.13
~~-~~
19.33
Q/� ?!
Rs. (In Crores)
Consolidated as
at 31.03.2022
(Audited)
483.46
9.06
63.88
20.80
0.03
0.01
2.98
108.32
65.91
67.39
1.42
10.70
12.39
~~-~~
2.42
848.77
15.62
396.96
0.01
133.96
11.36
23.88
34.03
17.25
142.54
4.04
49.99
1.67
17.46
14177
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1		 Non-current assets
a) Property,Plant and Equipment
527.66
b) Right to Use Assets
9.67
c) Capital work-in-progress
Investment Property
16.52
21.71
d)
e) Other Intangible assets
0.03
i)
Investments
0.01
0.01
g) Other non-current assets
Current Assets
2.95
2.98
2
a) Inventories
178.94
108.32
b) Financial Assets
i)Investments
77.52
65.91
ii) Trade receivables
80.71
67.39
iii) Cash and cash equivalents
1.59
1.42
iv) Bank balances other than iii. above
11.02
10.70
v) Other Loan & Advances
8.31
12.39
c) Income Tax Asset(Net)
1.49
~~-~~
d) Other Current Assets
15.13
2.42
�
a) EquityShare capital
15.62
15.62
b) Other Equity
449.91
396.96
C) MinorityInterest
0.01
0.01
1 Liabilities
Non-current Liabilites
Financial Liabilites
i) Borrowings
110.62
133.96
a)
b) Lease Liability
12.97
11.36
d) Government Grant(s)
32.66
34.03
e)
2		 e) Other non-current Liabilites
16.53
17.25
Current Liabilites
Financial Liabilites
a)
Borrowings
208.66
142.54
Trade Payables
i) Micro,Small & Medium Enterprises
3.72
4.04
ii)Others
54.13
49.99
b)
Income Tax Liability (Net)
~~-~~
1.67

THE SUKHJIT STARCH & CHEMICALS LTD., PHAGWARA Cash Flow Statement

Cash Flow Statement
I
II
Ill		 Flows from 01erating activities
Net Profit before tax
Adjustments for non-cash items
Depreciation
Interest on Lease Liability
Provision
Adjustments for non operating activities
Interest received
Interest paid
Apportionment of Deferred Income
(Profit) Loss on sale of investments/assets
Flows fromoperationsbeforeworking capital changes
Changes in working capital
Trade and other receivables
Inventories
Trade payables
Other Liabilities
Flows from 01erating activities
Net Direct Taxes Paid
Net Flows from operating activities
(A)
Flows from investing activities
Purchase of fixed assets
Other investments
Sale/Purchase of investments/assets
Acquition of Miniority Interest
Interest received
Net Flows from investing activities
(8)
Flows from financing activities
Loans raised for working capital
Term Loans raised
Repayment of Term Loan
Other Loans raised/(repaid)
Dividends paid(including DDT)
Equity Share Capital and security premium
Lease Liability
Interest paid
Net Flows from financing activities
(C)
Net Cash Flows during the year
(A+B+C)
Cash & Cash equivalents at the beginning of the year
Cash&Cash equivalents at the end of the year		 /Rs. Crores)
ConsolidatedConsolidated
for the year
for the year
ended
ended
31/03/2023
31/03/2022
(Audited)
(Audited)
86.23
35.64
1.28
0.11
(0.73)
26.56
(1.37)
/0.98)
146.74
(22.07)
(70.63)
3.82
2.19
60.05
(19.07)
40.98
(36.86)
(12.49)
5.72
-
0.73		 101.94
35.04
1.11
0.31

(0.69)
22.25

(1.37)

/0.54'
156.93

3.63

(6.74)
7.74
5.79
167.35

(23.13)
144.22

(30.69)
(57.03)
2.40
-
0.69
(42.90)
66.12
-
(28.09)
4.02
(12.57)
-
(0.51)
(26.56'
(84.63)
28.45
10.00

(60.10)
(22.38)

(18.95)
25.87

(0.37)
(22.25'
2.41
0.49
12.12
12.61		 (59.73)
(0.14)
12.26
12.12

==> picture [106 x 108] intentionally omitted <==

Notes:

  • (i) These consolidated financal results, reviewed by the Audit Commitee have been approved by the Board of Directors in their meeting held on Saturday, the 27th day of May, 2023.

  • (ii) The Consolidated Financial results have been prepared in accordance with the Companies Indian Accounting Standards (Ind AS) , in persuance to the provisions of section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India.

  • (iii) Figures for the previous year/ periods have been regrouped I recast I rearranged to make the same comparable with current period figures.

  • (iv) The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the financial year.

  • (v) Pursuant to the Taxation (Amendment) Ordinance, 2019 issued by Ministry of Law and Justice, the Company's Subsidiaries have opted for the New Corporate Income Tax Regime. The deffered tax liability/ asset has also been re-measured accordingly.

  • (vi) The consolidated results mainly include results of Sukhjit Mega Food Park & Infra Limited and The Vijoy Steel and General Mills Co. Limited, later not being a material subsidiary. It also include some relevant figures of Scott Industries Limited, which is a closed entity. The Segment figures have been seperately given accordingly.

Place : Phagwara Dated : 27th May,2023

==> picture [158 x 106] intentionally omitted <==

----- Start of picture text -----

Managing Director
(DIN : 00398376)
----- End of picture text -----

Consolidated Segement wise Revenue, Results, Assets and Liabilities
Pariculars		 for the Quarer_I_
Consolidated
for
Thr
Months		 for the Quarer_I_
Consolidated
for
Thr
Months		 Year ended 31st March,2023
Consolidaed
Consolidated
for
for
Preceding
Coresponding
Three
Three Months		 Year ended 31st March,2023
Consolidaed
Consolidated
for
for
Preceding
Coresponding
Three
Three Months		 Consolidated
for Accunting
year ended
31.03.2023		 Consolidated
for Accunting
year ended
31.03.2023		 Rs. (In Crores)
Consolidated
for Acunting
year ended
31.03.2022
ended Months (in the prev.
31.03.2023 ended year) ended
30.12.2022 31.03.2022
(Audited) (Unaudited) (Unaudited) (Audited) (Audited)
1Segment Revenue ( Revenue from operations & other Income)
(a) Maize Proce ing Division
(b) Infastructure Division
(c) Others
Totl
Less: Inter Division Transfers		 391.68
14.69
0.47
406.84
14.68		 340.13
20.54
0.26
360.93
13.20		 352.61
11.40
0.52
364.53
11.51		 1,436.97
65.49
1.16
1,503.62
54.00		 1,158.40
27.21
0.92
1,186.53
24.47
Total Segment Revenue 392.16 347.73 35302 1,449.62 1,162.06
2Segment Results(Profit before Interest&Tax)
(a) Maize Processing Division 28.08 26 08 40.90 118.07 128.29
(b) Infrastructure Division 1.57 (1.61) (0 30) (3.42) (2.34)
(c) Others (0 03)
(0.06)		 (0.09) (0.14) (0.17)
Total Segment Results 29.62 24.41 40.51 114.51 125.78
Less: Finance Cost 7.96 6.86 5.20 28.28 23.84
Total Profit before Tax 21.66 17.55 35.31 86.23 101.94
3SegmentAssets
(a) Maize Procssing Division
(b) Infrastructure Division		 809.29
141.78		 838.97
137.23		 692.25
154.65		 809.29
141.78		 692.25
154.65
(c) Others 2.19 1.84 1.87 2.19 1.87
Total SegmentAssets 953.26 978.04 848.77 953.26 848.77
4Segment Liabilities
(a) Maize Procssing Division
(b) Infastructure Division
(c) Others		 419.12
68.21
0.39		 448.91
66.08
0.27		 356.49
79.52
0.17		 419.12
68.21
0.39		 356.49
79.52
0.17
Total Segment Liabilities 487.72 515.26 436.18 487.72 436.18
Pla : Phagwara
Date : 27th May, 2023		 7
he Su
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rch & Chemicals Limited
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(CHARTERED ACCOUNTANTS) (A Peer Reviewed Firm, No:- 014348)

==> picture [63 x 40] intentionally omitted <==

Y□ginder Kumar Sud

B. Com. F.C. A

Y.K.SUD & CO.

Amblka Towers,4[1h ] Floor, Police Lines Rd. JALANDHAR 144 001 Phone:off:2220220,2224174 Fax: 0181-5007172

Independent Auditors' Report on the Qunrkrly and Year to Date Consolidated Audited Financial Results of the Compnny Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To

The Board of Directors of The Sukhjit Starch & Chemicals .Limited, Sarni Road, Phagwara

Report on the Audit of the Consolidated Financial Results.

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of The Sukhjit Starch & Chemicals Limited (the "Holding Company") and its subsidiaries (the holding company and its subsidiaries together referred to as "the Group") for the quarter and year ended March 31, 2023 ("Statement") attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the Listing Regulations").

Tn our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements of the subsidiaries, the Statement:

  • (i) Includes the results of the following subsidiaries: Sukjit Mega Food Park & Infra Ltd.

  • b) The Vijoy Steel & General Mills Co. Ltd.

  • c) Scott Industries Ltd.

  • (ii) are presented in accordance with the requirements of the Listing Regulations in this regard; and

  • (iii) gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the consolidated net profit, other comprehensive income and other financial information of the Group for the quarter and the year ended March 31,2023.

Y.K.SUD & CO.

(CHARTERED ACCOUNTANTS) (A Peer Reviewed Firm, No:- 014348)

Yoginder Kumar Sud B. Com. F.C. A

Ambika Towers,4[th ] Floor, Police lines Rd. JALANDHAR 144 001 Phone:off:2220220,2224174 Fax:0181-5007172

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, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the consolidated Financial Results" section of our report. We are independent of the Group 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 statements under the provisions of the Act 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 obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the consolidated annual financial statements. The Board of Directors are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Group and other financial information in accordance with the applicable accounting standards 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.

The Board of Directors of the Companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accoutring policies; making judgments and estimates that are reasonable and prudent; and the 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 Statement that give a true and fair view and are free f[r] om material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Staterrient, The Board of Dire�tors of the companies included in the Group are responsible for assessing the ability. of the Group to continue as a going concern,

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Y.K.SUD & CO.

(CH R1ER D AC OUNTANTS) (A Pe r R ·vi.wed Fltm, No�- 014348)

Yoginder Komar Sud Rd. B. Com. F. Ii C01 1711 i.n

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R .sp n. ibilili ,� fi r f h AudU of fh l'in n iRI R ult

th

h l i • ct i m udit r"­ , iranc � but i no ,vith . will lwoy detect a matedal 1cnt can ari • fr m fr ud r err r nnd nr considered ag rcgotc. th c uld re nnbly be expected t influence k n n the b i of the Stat mcnt.

pan f ·. n au JU !..,m nt an m int:iin r

rdan c with tnndard on Auditing (SA), \ e exercise profi sional ptici m throughout the audit. We al o:

    • nti and . the ri k material misstatement of the Statemen4 whether due to fraud

  • r rr r. esign nd perti rm audit pr cedures responsive to those risks, and obtain audit

  • , \'iden. e tJy t j uffi ient and appropriate to provide a basis for our opinion, The risk of not

  • ele ·ting a materi I mis tatement resulting from fraud is higher than for one resulting from

  • . rr r. � fraud may in olve collusion. forger[y] , intentional omissions, misrepresentations[<> ] or 11e veJTide f imernaJ controJ.

  • Obtain n understanding of internal control relevant to the audit in order to design audit pr edures t11at are appropriate in the circumstances. Under Section l 43(3)(i) of the Act, we. are al o respon ible for expressing our opinion on whether the Company has adequate internal frnancia-J controls with reference to financial statements in place and the operating effecri vene of such controls.

  • Evaluate the appropriateness of accounting policie used and the reasonableness of accounting estimates .and related disclosures made by the Board of Directors.

  • Conclude on the appropriateness of the Bo&rd of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists

(CHARTERED ACCOUNTANTS) (A Peer Reviewed Firm, No:- 014348)

Y.K.SUD & CO.

Yoginder Kumar Sud B. Com. F.C. A

Ambika Towers,4[th ] Floor, Police Lines Rd. JALANDHAR 144 001 Phone:off:2220220,2224174 Fax: 0181-5007172

elated to events or conditions that may cast significant doubt on the group 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 group to cease to continue as a going concern.

  • Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

  • Obtain sufficient appropriate audit evidence regarding the financial statements/financial results/financial information of the entities within the Group and its subsidiary to express an opinion on the Statement. For the other entity included in the Statement, which has been audited by another auditor, such other auditor remains responsible for the direction, supervision and performance of the audit carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding company and such other entities included inthe statement of which we are independent auditors 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.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMDl/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other matter

The accompanying Statement includes the audited financial statements and other financial information of three subsidiaries, which have been audited by their independent auditors:

Y.K.SUD & CO.

(CHARTERED ACCOUNTANTS) (A Peer Reviewed Firm, No:- 014348)

Voginder Kumar Sud
oginder Kumar Sud Ambika Towers,41h Floor, Police lines Rd.
Com. F.C. A JALANDHAR 144 001
Phone:off:2220220,2224174
Fax:0181-5007172
Subsidiary Company
Sukjit Mega Food Park & Infra Ltd.
The Vijoy Steel & Gcnernl Mills Co. Ltd.		 TotnIAssets
14296.03
153.03		 Revenue
6548.50
115.73		 (Rs. Lacs)
from operations
Scott Industries Ltd. 68.15

B. Com. F.C. A

The independent auditor's report on the financial statements of this entity has been furnished to us by the Management and our opinion on the statement in so far as it relates to the amounts and disclosures included in respect of this subsidiaries is based solely on the report of such auditor and the procedures per[f] ormed by us stated in paragraph above.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the report of the other auditor.

The Statement includes the results for the quarter ended March 31, 2023 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2023 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

FOR YKSUD & CO

Place : Jalandhar Date: May 27,2023

Chartered Accou Proprietor Membership No 16875 Firm's Registration No.000047N UDIN: 23016875BGWNWY5407

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THE SUKHJIT STARCH AND CHEMICALS LIMITED

EVOLV1NG WITH NATURE

Ref: SSC/VPF /BSE/2023-24/

Dt: 27/05/2023

BY E-FILING

To, To, The General Manager-Listing Department The General Manager-Listing Department BSE Limited The National Stock Exchange of India Limited 25th Floor, P.J. Towers, Exchange Plaza, 5[t] h Floor, Dalal Street, Fort, Plot No. C/1, G Block, Bandra Kurla Complex, MUMBAI- 400 001 Bandra (E), Mumabi- 400 051 Ref: Security Code: 524542 Ref: Symbol: SUKHJITS

Sub: Declaration in respect of Unmodifed Opinion on Audited Financial Results fr the Financial Year ended on 31[st ] March, 2023. Ref: Regulation 33(3) to the SEBI (LODR) Regulation, 2015

Dear Sir,

We hereby declare that the Statutory Auditors of the Company, M/s Y K & Sud & Co., Chartered Accountants (Firm Regd No. 000047N) have issued an Audit Report with Unmodified Opinion on Audited Financial Results of the Company for the Quarter/ Year ended on 31[st ] March, 2023.

The declaration is given in compliance to second provision of Regulation 33(3)(d) of SEBI(Listing Obligations and Disclosure Requirements), Regulations, 2015, as amended by the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016, vide notification no. SEBI/LAD-NRO/GN/2016-17 /001 dated 25TH May, 2016, applicable w.e.f 1[st ] April, 2016.

You are requested to kindly take note of the same.

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Thanking You,
Yours Faithfully,
FOR THE SUKHJIT STARCH & CHEMICALS LTD
r,. ,- A --• • ♦
' -'• i - =-=
K.K. S� ·
· I c�
Managing Director ��/·,
/
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150 9001:200 Certified SARAI ROAD, PHAGWARA T +911824 46 8800. 26 0314 DISTTT. KAPURTHALA F +9-11824 2616 69, 26 2077 PUNJAB144 401, INDIA E [email protected] · C/N : L15321PB1944PLC001925· -· ___ , . ______ .·&FSSC:2ioociCompan�:_

· WWW.SUKHJITGROUP.COM

THE SUKHJIT STARCH & CHEMICALS LIMITED

Regd. Office: Sarai Road, Phagwara-144401 CIN:L15321P B1944PLC001925

Email: [email protected] Website: www.sukhjitgroup.com Ph. 01824-468800

EXTRACT OF THE AUDITED FINANCIAL RESULTS FOR THE QUARTER/ FINANCIAL YEAR ENDED 31ST MARCH, 2023

(in Rs. Crores)

(in Rs. Crores) (in Rs. Crores)
Particulars
1)Total Income/Revenue from Operations (Net of Discounts)
2)
Net Profit for the period before Tax
(before/ after exceptional items)
3) Net Profit for the period after Tax
(before/ after exceptional items)
4)Total Comprehensive Income for the period
(Comprising Profit for the period after Tax and other Comprehensive
Income (OCI) after Tax)
5) Paid up Equity Share Capital
6)Earning Per Share in Rs. (face value of Rs.10 each, Basic & Diluted)		 Standalone
For
Three Months
ended
31,03.2023
(Audited)
391.68
20.79
15.69
16.72
15.62
10.04		 Standalone
For
Corresponding
Three Months
(in the prev.
year) ended
31.03.2022
(Audited)
352.61
36.26
22.64
24.01
15.62
14.49		 Standalone for
Accounting year
ended
31.03.2023
(Audited)
1436.97
92.74
70.14
72.51
15.62
44.90		 Stndalone for
Accounting year
ended
31.03.2022
(Audited)
1158.40
107.41
77.29
78.12
15.62
49.47		 consolidated
For
Three Months
ended
31.03.2023
(Audited]
392.16
21.66
14.80
15.63
15.62
9.48		 Consolidated
Consolidated
For Corresponding
for Accounting
Three Months(in the
year ended
prev. year) ended
31,03.2023
31.03.2022
(.udited)
(Audited)		 Consolidated
for Accounting
year ended
31.03.2022
(Audited)
353.02
35.31
22.71
24.08
15.62
14.54		 1449.62
86.23
63.37
65.74
15.62
40.56		 1162.06
101.94
72.84
73.67
15.62
46.63

Notes:

The above is an extract of the detailed format of Quarterly/ yearly Audited Financial Results prepared under Ind AS and filed with the Stock exchange on 27 [th ] May, 2023, under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. The full format of the quarterly / yearly financial results is available on the Stock

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exchange website of BSE at www.bseindia.com & NSE at www.nseindia.com and also on Company's website at www.sukhjitgroup.com.
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