5073152022-07-012022-09-305073152022-09-305073152022-03-315073152022-04-012022-09-305073152022-07-012022-09-30in-bse-fin:OtherExpenses1Member5073152022-04-012022-09-30in-bse-fin:OtherExpenses1Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments1Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments2Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments3Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments4Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments5Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments1Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments2Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments3Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments4Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments5Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments1Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments2Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments3Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments4Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments5Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments1Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments2Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments3Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments4Member5073152022-04-012022-09-30in-bse-fin:ReportableSegments5Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments1Member5073152022-09-30in-bse-fin:ReportableSegments1Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments2Member5073152022-09-30in-bse-fin:ReportableSegments2Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments3Member5073152022-09-30in-bse-fin:ReportableSegments3Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments4Member5073152022-09-30in-bse-fin:ReportableSegments4Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments5Member5073152022-09-30in-bse-fin:ReportableSegments5Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments1Member5073152022-09-30in-bse-fin:ReportableSegments1Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments2Member5073152022-09-30in-bse-fin:ReportableSegments2Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments3Member5073152022-09-30in-bse-fin:ReportableSegments3Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments4Member5073152022-09-30in-bse-fin:ReportableSegments4Member5073152022-07-012022-09-30in-bse-fin:ReportableSegments5Member5073152022-09-30in-bse-fin:ReportableSegments5Member5073152022-07-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15073152022-04-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1iso4217:INRxbrli:pureiso4217:INRxbrli:shares507315SAKHTISUGNOTLISTEDINE623A01011SAKTHI SUGARS LIMITEDEquity2022-04-012023-03-312022-11-142022-11-04INRLakhsHalf yearlyMulti segment2022-11-1411:30:002022-11-1413:00:00trueCash Flow IndirectNot applicable2022-07-012022-09-30UnauditedStandalone2419894000162970002436191000143317800094000014070500095879000279427000925870005985690002641285000-2050940003078340001027400000-3045000-30450000105785000-57156000-720000-5643600004934900011193000605420000605420001188490000100.890.89-0.47-0.470.420.42-0.03180.00150.00921.The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 14, 2022. 2.The financial results have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ("Ind AS") prescribed under Section 133 of the Companies Act, 2013, read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulation') as amended. 3.During the period under review, the Company has approved the sale of Sugar and Distillery units at Dhenkanal and Soya unit at Pollachi, at competitive prices, for the purpose of raising funds to reduce the liabilities.4. The company has sold its Sugar and Distillery units at Dhenkanal to Indian Potash Limited for a consideration of Rs. 13410.00 lakhs on November 11, 2022, on slump sale basis. Results of these units for all the periods presented have been disclosed as results from Discontinued Operations. <BR> <BR> The details relating to the discontinued operations are furnished below: <BR> <BR> Particulars Quarter Ended Period Ended <BR> 30.09.2022 30.09.2022 <BR> Total Income 6,774.90 16,043.10 <BR> Total Expenses 7,346.46 16,707.40 <BR> Profit/(Loss) Before Tax (571.56) (664.30) <BR> Tax Expenses -- 8.15 <BR> Profit/(Loss) After Tax (571.56) (656.15) <BR> <BR> The Company has recognised deferred tax asset on carried forward losses/unabsorbed depreciation and other items to the extent of deferred tax liability. Since FY 2019-20, the Company has adopted the policy of recognition of deferred tax asset to the extent of deferred tax liability. 5. The Auditors have qualified their report for the quarter and period ended September 30, 2022, as under: No provision for the expected credit loss/ impairment on interest receivable from an erstwhile associate company of Rs. 25219.69 lakhs have been recognized as per the requirement of Ind AS 109 "Financial Instruments". In view of non-recoveries, non-confirmations/reconciliation from the debtor company, initiation of legal action against the interest claim of the company and in absence of clear forward looking information regarding outcome of pending Legal actions initiated and time frame and quantum of realisability of the interest receivable, we are unable to determine the amount of expected credit loss/ impairment as per the requirements of Ind-AS 109 "Financial Instruments" and its consequential impact on the financial results. This matter has been qualified by the predecessor auditors in their audit report for the year ended March 31, 2022. This matter was also qualified by the predecessor auditors in their report on the financial statements for the year ended March 31, 2020, and March 31, 2021. Board of Directors have considered the qualification made by the Auditors and have addressed the same as under: With reference to the statutory auditors remarks your directors wish to state that the Company is confident of obtaining favourable award and hence ECL is not provided. 6. The Company has recorded accumulated losses of Rs.66960.36 lakhs as on September 30, 2022, resulted in complete erosion of its net worth. As of that date, Company’s current liabilities exceeded its current assets by Rs.62454.84 lakhs. Significant financial ratios are also negative. These conditions indicate existence of material uncertainty that may cast a significant doubt on the Company’s ability to continue as a Going Concern. During the period under review, the Company has settled entire dues to ARCIL, Bank of India and Edelweiss Financial Services Limited. Subsequent to the reporting period, the company has sold its Sugar and Distillery units in Dhenkanal on November 11, 2022 as stated in note 3 above. Further, the Company is in the process of sale of certain investments, non-core assets and Soya unit in Pollachi to augment funds. In view of the above, the financial results have been prepared on a going concern basis. 7. The Company had pledged 6,38,59,394 Equity shares held in Sakthi Auto Component Limited (the “SACL”) in favour of Asset Reconstruction Company (India) Limited [the “ARCIL”] in terms of Share Pledge Agreement entered into with the ARCIL on March 3, 2020, as security for the credit facilities availed by the Company from ARCIL and various other banks. The ARCIL has invoked the pledge of 6,38,59,394 equity shares of Sakthi Auto Component Limited held by the Company during the year ended March 31, 2021. During the period ended September 30, 2022, the company has settled the entire outstanding to ARCIL and other lenders. Consequently, ARCIL has released 6,38,59,394 equity shares during October 2022 in favour of the Company. 8. Exceptional items, represent remission of interest liability on secured borrowings as per agreement. 9. The figures of previous periods/year have been re-grouped/ re-classified wherever necessary, to conform to present classification. <BR> 2022-04-012022-09-30UnauditedStandalone54429310002410000054670310003369533000765000010136400020790800053426200018411800012708790005675714000-208683000205739300018487100000-495000-49500001849205000-66430000-815000-6561500001783590000389500017874850000178748500011884900001015.5615.56-0.55-0.5515.0115.01-0.03180.00230.0048Other Expenses598569000Other Expenses1270879000806161900022220000000085700001696120000608000040821300058390500000866860100046831700006518700050147000698700024905470008145000262101300058466000426013000357380900054431660000176855760001188490000-3682266000-2493776000-24937760004726400000013313000473971300017718000000049168930004192976000667317000639659700011256890000372865300022768000001500831100025414800002017935200017685576000Sugar2462272000Industrial Alcohol331741000Power769849000Discontinued Operation676413000Asset classifed as held for sale0Sugar5656403000Industrial Alcohol730856000Power1831643000Discontinued Operation1597031000Asset classifed as held for sale0424027500098159330001143968000277597100030963070007039962000Sugar-11148000Industrial Alcohol23928000Power52502000Discontinued Operation-57156000Asset classifed as held for sale0Sugar171253000Industrial Alcohol48537000Power98035000Discontinued Operation-66430000Asset classifed as held for sale08126000251395000279427000534262000-316885000-2065147000455840001782280000Sugar8452623000Industrial Alcohol869183000Power2536735000Discontinued Operation0Asset classifed as held for sale54431640001730170500038387100017685576000Sugar3442057000Industrial Alcohol182933000Power1253346000Discontinued Operation0Asset classifed as held for sale25414800051324840001504686800020179352000534262000-56093000-1632000021691000-563000-38020007164000018765500001047834000-4608600018411800000031360009340000000-38690000-2057393000-6643000000-2490740001599636000-3110000-46050001305500001581665000000000003500022194000000000000000017500000031100046050000-274976000-292394000000000002230059000278782300000076502200000-1322786000-335150000-335150009064900057134000Amount of items that will not be reclassified to profit and loss1495800014958000Amount of items that will not be reclassified to profit and loss520500052050003765000131000000