Audited Financial Results - 31.03.2015
AUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED 31st MARCH 2015
Rs. lacs
  Particulars For the Quarter / three months ended For the Year ended
31.03.2015 31.12.2014 31.03.2014 31.03.2015 31.03.2014
(UnAudited) (Audited)
             
1 Income from Operations          
  (a) Net sales / income from operations (net of excise duty) 5,416.84 6,134.27 6,374.34 23,492.66 24,361.71
  (b) Other Operating Income 52.49 46.48 126.09 158.11 299.93
  Total Income from operations (net)     5,469.33     6,180.75       6,500.43      23,650.77      24,661.64
2 Expenses          
  (a) Cost of materials consumed 2,607.47 3,053.30 3,369.62 12,246.71 12,280.71
  (b) Purchases of stock-in-trade  -  -  -  -  -
  (c) Changes in inventories of finished goods & work-in-progress (285.04) (42.16) 34.92 (624.56) 450.12
  (d) Employee benefits expense 923.25 1,010.57 757.69 3,851.51 3,434.87
  (e) Depreciation and amortisation expense 157.77 177.00 182.18 688.77 810.92
  (f) Other expenses 2,294.21 1,895.01 2,341.51 8,112.02 7,970.84
  Total Expenses ( a ... f ) 5,697.66 6,093.72 6,685.92 24,274.45 24,947.46
3 Profit/(Loss) from Operations before Other Income, finance cost & Exceptional items (1-2) (228.33) 87.03 (185.49) (623.68) (285.82)
4 Other Income 44.26 12.08 85.22 98.76 250.87
5 Profit / (Loss) from ordinary activities before finance costs & Exceptional items (3+4) (184.08) 99.11 (100.27) (524.92) (34.95)
6 Finance costs 97.79 98.75 69.96 368.04 292.66
7 Profit / (Loss) from ordinary activities after finance costs but before exceptional items (5-6) (281.87) 0.36 (170.23) (892.96) (327.61)
8 Exceptional items:  -  - 339.71             -           339.71
9 Profit / (Loss) from Ordinary Activities Before Tax (7 - 8) (281.87) 0.36 169.48 (892.96) 12.10
10 Tax expense          
  - Current Tax (0.09)  - (0.05)  (0.09)  (0.05)
  - Previous Year's Tax (644.44) - (409.29)  (644.44)  (409.29)
  - Deferred Tax 82.75 - (124.40) 82.75  (124.40)
11 Net Profit/ (Loss) from Ordinary Activities After Tax (9 - 10)      (843.65)              0.36       (364.26)       (1,454.74)         (521.64)
12 Extraordinary Items (net) (net of tax expense)  - - -  - -
13 Net Profit / (Loss) for the period (11 - 12)     (843.65)            0.36       (364.26)     (1,454.74)         (521.64)
14 Paid up Equity Share Capital-Face Value-Rs.10/- each        393.46        393.46          393.46           393.46           393.46
15 Reserves excluding Revaluation Reserve as per balance sheet              6,592.19        8,265.71
16 Earnings Per Share (EPS) - in Rs.          
  i) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs.       (21.44)            0.01           (9.26)          (36.97)           (13.26)
  ii) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs.       (21.44)            0.01           (9.26)           (36.97)           (13.26)
See accompanying note to the financial results
PART II
  Select information for the quarter and year ended 31st March 2015 and same period of previous year
A PARTICULARS OF SHAREHOLDING          
1 Public shareholding
         
  - Number of shares 1,355,791 1,335,791 1,335,791 1,355,791 1,335,791
  - Percentage of shareholding 34.5% 34.0% 34.0% 34.5% 34.0%
2 Promoters and Promoter Group Shareholding          
  a. Pledged/Encumbered          
  - Number of shares Nil Nil Nil Nil Nil
  - Percentage of shares (as a % of the total shareholding of the promoter and promoter group) - - - - -
  - Percentage of shares (as a % of the total share capital of the company) Nil Nil Nil Nil Nil
  b. Non-encumbered          
  - Number of shares 2,578,784 2,598,784 2,598,784 2,578,784 2,598,784
  - Percentage of shares (as a % of the total shareholding of the promoter and promoter group) 100.0% 100.0% 100.0% 100.0% 100.0%
  - Percentage of shares (as a % of the total share capital of the company) 65.5% 66.0% 66.0% 65.5% 66.0%
 
Particulars 3 months ended 31st March 2015
B. INVESTOR COMPLAINTS NIL
  Pending at the beginning of the quarter NIL
  Received during the quarter NIL
  Disposed of during the quarter NIL
  Remaining unresolved at the end of the quarter NIL

Notes :   
1 Statement of Assets and Liabilities (Audited):
As at 31.03.2015
As at 31.03.2014 
     
Rs. Lacs
Rs. Lacs
A EQUITY AND LIABILITIES      
           
1 Shareholders' funds
  (a) Share Capital 393.46   393.46  
  (b) Reserves & Surplus 6,592.19   8,265.71  
  (c) Money received against Share Warrants  -    -  
 
Sub-total - Shareholders' funds
  6,985.65   8,659.16
2 Share application maney pending allotment    -    -
3 Non-current liabilities        
  (a) Long-term borrowings 764.15   1,296.35  
  (b) Deferred tax liabilities (net) 1,198.02   1,280.77  
  (c) Other long-term liabilities  -    -  
  (d) Long-term provisions 72.87   78.04  
 
Sub-total - Non-current liabilities
  2,035.04   2,655.16
4 Current liabilities        
  (a) Short-term borrowings 3,764.88   2,755.03  
  (b) Trade payables 2,273.39   2,299.72  
  (c) Other current liabilities 617.06   555.05  
  (d) Short-term provisions 2,001.53   1,338.16  
 
Sub-total - Current liabilities
  8,656.86   6,947.96
 
TOTAL - EQUITY AND LIABILITIES
  17,677.55   18,262.28
           
  ASSETS        
1 Non-current Assets        
  (a) Fixed Assets 8,073.97   8,715.24  
  (b) Non-Current Investments 2.10   0.60  
  (c) Deferred Tax Assets (Net) -   -  
  (d) Long-term Loans & Advances 437.33   389.44  
  (e) Other Non-Current Assets 0.22    -  
 
Sub-total - Non-current Assets
  8,513.62   9,105.28
2 Current Assets        
  (a) Current Investments -   -  
  (b) Inventories 2,876.54   2,300.23  
  (c) Trade Receivables 5,403.13   5,764.31  
  (d) Cash and cash equivalents 343.45   395.14  
  (e) Short-term loans and advances 540.81   697.32  
  (f) Other Current Assets  -    -  
 
Sub-total - Current Assets
  9,163.93   9,157.00
 
TOTAL - ASSETS
  17,677.55   18,262.28
2
The operations of the Company relate only to one segment viz., friction materials. 
3
Depreciation for the current year has been charged with reference to the estimated useful life as given in Schedule II of Companies Act, 2013. In respect of assets whose useful life stood completed as at 01.04.2014, adjustment against retained earnings for Rs. 218.78 lacs has been made in arriving at the cumulative depreciation as at 31.03.2015.
4
The above results were reviewed by the Audit Committee at its Meeting held on 22nd  May 2015 and approved by the Board of Directors at its meeting held on 22nd  May 2015.
5 Prior period figures have been regrouped wherever necessary to conform to current period classification.
6
The figures for the quarters ended March 31, 2015 / 2014 are the balancing figures between the Audited figures in respect of the financial years and the published years to date figures upto December 31, 2014 / 2013.
 
On behalf of the Board
For SUNDARAM BRAKE LININGS LIMITED
Madurai
22th May 2015
KRISHNA MAHESH
MANAGING DIRECTOR
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