GOBIND2020-07-012020-09-30GOBIND2020-09-30GOBIND2020-03-31GOBIND2020-04-012020-09-30GOBIND2020-07-012020-09-30in-bse-fin:OtherExpenses1MemberGOBIND2020-04-012020-09-30in-bse-fin:OtherExpenses1MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-04-012020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-04-012020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-04-012020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-04-012020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-04-012020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-04-012020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-09-30in-bse-fin:ReportableSegments1MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-09-30in-bse-fin:ReportableSegments2MemberGOBIND2020-07-012020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-09-30in-bse-fin:ReportableSegments3MemberGOBIND2020-07-012020-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1GOBIND2020-07-012020-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss2GOBIND2020-04-012020-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1GOBIND2020-04-012020-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss2iso4217:INRiso4217:INRxbrli:sharesGOBINDGOBINDINE246E01013GOBIND SUGAR MILLS LIMITEDEquity2020-04-012021-03-312020-10-292020-10-22INRLakhsHalf yearlyMulti segment2020-10-2916:30:002020-10-2918:10:00trueCash Flow IndirectNot applicable2020-07-012020-09-30UnauditedStandalone186485400088615000195346900019750000161232200060891000213338000658070001599530002114286000-1608170000-1608170000-44589000-445890000-1162280000000-116228000927000-115301000-11530100004473000010-25.98-25.9800-25.98-25.983. Sugar is a seasonal industry where crushing normally takes place during the period between November and May, while sales are distributed throughout the year. Accordingly, the performance of the Company varies from quarter to quarter. <BR>
4.The financial results have been prepared in accordance with the Indian Accounting Standards ('Ind AS') as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 2013. <BR>
5.The Company carries an amount of INR 4,113.56 lacs as deferred tax assets (net) as at 30 September 2020. The management of the Company is confident of generating sufficient taxable profits in the near future considering the power purchase arrangements with the Uttar Pradesh Power Corporation Limited, signed contracts for supply of ethanol with Oil Marketing Companies, reduced finance costs due to expected repayment of term loan, future expansion plans like setting up of 16 MW Co-generation Power Plant and industry focused trade policies of the government. <BR>
6.The Company elected to exercise the option of reduced income-tax rates permitted under section 115BAA of Income-tax Act 1961, in accordance with the Taxation Laws (Amendment) Act, 2019 during the year ended 31 March 2020. Accordingly, deferred tax assets (net) were re-measured, based on the rate prescribed in the said section subject to certain conditions as prescribed therein. The full impact of this change amounting to INR 4,535.71 lacs was recognized during the year ended 31 March 2020. Accordingly, tax expense presented in the above financial results for the year ended 31 March 2020 was higher by one time charge of INR 4,535.71 lacs on account of remeasurement of deferred tax assets (net). <BR>
7.As on 30 September 2020, the accumulated losses of the Company amounted to INR 20,061.74 lacs. The management of the Company is confident to generate sufficient profits and cash from operations in near future considering improved sugar sale prices, industry focused state and central government trade policies, expanded operations in form of commencement of Ethanol Plant (Distillery having capacity of 100,000 litres per day) and setting up of 16 MW Co-generation Power Plant. Also, the Company has availed moratorium period for principal and interest payments, under Covid 19 - Regulatory Package announced by Reserve Bank of India by rescheduling its repayments of loans and payment of interest. In view of the same, the management of the Company is confident of generating sufficient cash flows in the future to meet the Company's financial obligations. Hence, these financial results have been prepared on a going concern basis. <BR>
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8.The management of the Company has considered the possible impact of COVID 19 in preparation of these financial results including all internal and external sources of information, economic forecasts and estimates from market sources as at the date of the approval of these financial statements in determining carrying values of its assets and liabilities in accordance with applicable accounting standards. On the basis of the evaluation and current indicators of future economic conditions, the Company assessed the impact of the situation on the capital, profitability, liquidity positions etc., and based on their assessment, the pandemic does not have any material impact on the financial results of the Company. The management will continue to closely monitor any material change to future economic conditions and would take necessary actions accordingly. <BR>
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9.The Board of Directors of the Company, vide resolution dated 17 July 2020 has accorded its consent for Scheme of Amalgamation between Zuari Global Limited (the ultimate holding company), the Company and their respective shareholders and creditors (‘the Scheme’). The Company has submitted the Scheme with Metropolitan Stock Exchange of India and awaiting approval as of date. Post receipt of such approval, the Company will file the application with the relevant authorities. The Board of Directors of the Zuari Global Limited have also accorded consent to the Scheme vide their resolution dated 17 July 2020. The appointed date of Amalgamation as per scheme is 1 April 2020. <BR>
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10.The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 29 October 2020. <BR>
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11.The figures of previous reported quarters / periods have been regrouped / reclassified wherever considered necessary in order to comply with financial reporting requirements. <BR>
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