Performance -
Financials
| Archive |
First Quarter Results 2005 - 2006
[Rs./Lakhs]
| |
Particulars |
QUARTER ENDED
30.06.2005 ( Audited) |
QUARTER ENDED
30.06.2004( Unaudited) |
YEAR ENDED
31.03.2005 (AUDITED) |
1. |
Net Sales / Income from
Operations(Note 2): |
|
|
|
|
Sales |
5,003.63 |
941.89 |
7,524.08 |
|
Conversion charges |
4,300.75 |
4,703.57 |
17,616.79 |
|
Benefits under Duty Free
Replenishment Certificate/Duty Entitlement Pass Book Scheme |
108.12 |
137.40 |
749.79 |
|
Sales and conversion charges (Gross) |
9412.50 |
5,782.86 |
25,890.66 |
|
Less : Excise duty on Sales |
446.42 |
74.21 |
554.92 |
|
Sales and Conversion charges (Net) |
8966.08 |
5,708.65 |
25,335.74 |
2. |
Other Income |
186.35 |
155.09 |
1,012.59 |
|
Total Income |
9,152.43 |
5,863.74 |
26,348.33 |
3. |
Total Expenditure : |
|
|
|
|
(a)(Increase)/Decrease in Stock
in-trade |
(557.13) |
141.10 |
(348.71) |
|
(b)Consumption of Raw Materials |
3,578.87 |
554.49 |
5,490.06 |
|
(c)Staff Cost |
1,274.95 |
1,170.35 |
4,570.37 |
|
(d)Stores & Consumables |
624.56 |
604.18 |
2,012.04 |
|
(e)Power,Fuel etc. |
1,080.57 |
980.49 |
3,960.22 |
|
(f)Other Expenditure (Includes
Freight. & Handling, Repair & Maint. etc.) |
1,156.64 |
745.22 |
3,852.88 |
4. |
Profit Before
Depreciation, Interest & Tax(1+2-3) |
1,993.97 |
1,667.91 |
6,811.47 |
5. |
Interest |
364.09 |
457.45 |
1,709.83 |
| 6. |
Cash profit (Profit
Before Depreciation & Tax)(4-5) |
1,629.88 |
1,210.46 |
5,101.64 |
7. |
Depreciation |
483.35 |
465.66 |
1,888.69 |
8. |
Profit before Tax |
1,146.53 |
744.80 |
3,212.95 |
9. |
Provision for current taxation (Note
- 2a) |
105.00 |
- |
165.00 |
10. |
Provision for Fringe Benefit Tax |
20.00 |
- |
- |
11. |
Profit after
current Tax |
1,021.53 |
744.80 |
3,047.95 |
12. |
Paid up Equaity Share Capital ( Face
Value of equity share is Rs. 10/- each) |
2,890.91 |
2,890.91 |
2,890.91 |
13. |
Paid up Preference Share
Capital(Face Value of preference share is Rs.100/- each) |
11,233.00 |
11,233.00 |
11,233.00 |
14. |
Reserves(Excluding revaluation
reserve) |
|
|
531.25 |
15. |
Basic Earnings Per Share -
(Rupees)(Equity Shares) - not annualised |
3.52 |
2.57 |
10.51 |
16. |
Diluted Earnings Per Share-(Rupees)
(Equity Share) - not annualised |
|
|
|
17. |
Aggregate of Non-Promoter
Shareholding: |
|
|
|
|
Number of Shares |
19,656,889 |
19,656,889 |
19,656,889 |
|
Percentage of Share holding |
67.77% |
67.77% |
67.77% |
| Notes: |
| 1 |
Actual production (Including Conversion) |
|
| |
Three months ended
30.06.2005
In (MT) |
Three months ended
30.06.2004
In (MT) |
Year ended
31.03.2005
In (MT) |
| a) Cold Rolled Coils* |
45,344 |
41,712 |
167,217 |
| |
--------- |
-------- |
-------- |
| b) Electrolytic Tinplate |
|
|
|
| - Own Production |
10,934 |
1,855 |
15,045 |
| - On conversion account |
27,485 |
31,351 |
125,620 |
| |
--------- |
-------- |
-------- |
| |
38,419 |
33,206 |
140,665 |
| |
--------- |
-------- |
-------- |
|
|
*Includes 39005 MT ( 2004-05 : 142612 MT ;
corresponding previous period: 33642 MT) transferred to Electrolytic Tinplate production |
| 2. |
a) Current taxation represents Minimum Alternate
Tax in view of carry forward losses/ unabsorbed depreciation. |
|
b) Period end net deferred tax assets arising
mainly out of unabsorbed tax depreciation, carried forward tax losses etc., have not been
recognized in these accounts as a measure of prudence in keeping with Accounting Standard
(AS) - 22, issued by the Institute of Chartered Accountants of India (ICAI). |
| 3 |
The Company's operations predominantly is
manufacture of Electrolytic Tinplate, in course of which certain intermediate product,
namely, Full Hard Cold -Rolled coils in small quantity are also produced and marketed. The
Company is managed organizationally as a unified entity catering predominantly to the
domestic market along with export to a few countries with similar economic environment
and, therefore, according to the management, this is a single segment company as envisaged
in AS-17 issued by ICAI. |
| 4 |
(According to a legal opinion the right of
conversion of the Non-Cumulative Optionally Convertible Preference Shares (OCPS) into
Equity Shares, if and when exercised would be as per SEBI guidelines prevailing at the
time of exercising the option. Therefore number of potential Equity Shares and diluted
Earnings per Share (EPS) are not currently ascertainable. |
| 5 |
Total number of investors complaints pending at the
beginning of the quarter : Nil , Received during the quarter :1, disposed off : 1 and
pending at the end of the quarter : Nil. |
| 6 |
Figures for the corresponding period have been
rearranged and regrouped wherever necessary. |
| 7 |
The above results were reviewed by the Audit
Committee and thereafter approved at the meeting of the Board of Directors held on 15th of
July, 2005. |
Mumbai
15th July, 2005 |
By Order of the Board
B.L.Raina
(Managing Director) |
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