Put all the dry ingredients (all purpose flour, baking powder, soda, powdered sugar) in a mixing bowl and mix it well.
In another bowl put condense milk, pineapple essence, water and mix it well.
Now add all the dry ingredients into the bowl of wet ingredients and mix it well with wire whisk till smooth.
Now add melted butter, oil and mix it well by using cut and fold method till all the oil gets absorbed.
Lastly, add vinegar and mix it well.
Pineapple batter is ready. Keep aside.
Grease 7 or 8-inch tin with butter and keep aside.
Heat 5 tbsp of sugar in a pan and keep on stirring till it melts and becomes brown. Pour this hot caramel into the greased tin.
Arrange pineapple slices, cherries over the caramel sauce.
Pour pineapple batter over pineapple slices in the cake tin and keep the tin in preheated oven and bake at 180 degrees for 35 to 40 minutes or till cake is done.
Once baked, take out from the oven, scratch the sides and immediately turn onto a plate.