The company announced the results during trading hours today, 27 January 2012.

Meanwhile, the BSE Sensex was up 161.81 points, or 0.95% to 17,238.99

On BSE, 7,854 shares were traded in the counter. The stock had an average daily volume of 3,518 in the past one quarter.

The stock hit a high of Rs 93.45 and a low of Rs 82.10 so far during the day. The stock had hit a 52-week low of Rs 71.55 on 20 December 2011. The stock hit a 52-week high of Rs 114.85 on 25 January 2011.

The small-cap stock had outperformed the market over the past one month till 25 January 2012, rising 13.71% compared with Sensex's 8.5% rise. The scrip had also outperformed the market over the past one quarter, gaining 8.07% as against Sensex's 1.03% fall.

The company has an equity capital of Rs 8.60 crore. Face value per share is Rs 10.

Ponni Sugars (Erode) benefited by improved cane supply from its command area and crushed 11% higher cane volume on quarter-on-quarter (QoQ) basis, the company said. Soil productivity and seed quality enhancement measures helped to shore up cane yield and sugar recovery that were unduly depressed last year under adverse weather conditions, the company added.

Sugar exports were faced with formidable fall in global prices during the quarter (Q3 December 2011) by almost 20%. Still they fetched 10% higher realization over the domestic prices, riding on a weakening rupee, the company said. Export volume was, however, capped by the rationing formula followed by the government, the company added.

While the parity between cane cost and domestic sugar realization remained largely unchanged, higher export realization and better recovery helped to significantly strengthen the company's margin, the company said. As a result, profit before tax (PBT) and profit after tax (PAT) have more than doubled on QoQ basis, the company added.

Cane prices hike for sugar season 2011-12 has been realistic and reasonable in Tamil Nadu. Sugar prices would be under stress due to high domestic production and global surplus, the company said. Margins would hence remain muted, the company added.

Ponni Sugars (Erode) said the Cogeneration project is now in its advanced stage. Major items of plant & equipment have been received. Erection is in brisk progress, though periodically faced with labour shortage, the company said. The company has spent Rs 71 crore till 31 December 2011 and the project cost is well under control, the company said in a statement. All out efforts are being taken to commission the Cogeneration plant before the end of March 2012, the company added. The company looks forward to end the financial year (FY) 2011-12 on a reasonably comforting note, the company said in a statement.

Ponni Sugars (Erode) is engaged in producing sugar, with the company catering to both domestic and international markets.

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