| UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 30th SEPTEMBER 2011 |
| Rs. lacs |
| |
Particulars |
For the Quarter / three
months ended |
For the six months ended |
Year ended |
| 30.09.2011 |
30.09.2011 |
30.09.2011 |
30.09.2011 |
31.03.2011 |
| (Unaudited) |
(Unaudited) |
(Audited) |
| 1 |
(a) Net Sales |
6527.12 |
5958.96 |
12,787.08 |
11,457.99 |
23,572.65 |
| |
(b) Other Operating Income |
24.68 |
54.82 |
52.16 |
86.14 |
174.06 |
| |
Total Income |
6,551.80 |
6,013.78 |
12,839.24 |
11,544.13 |
23,746.71 |
| 2. |
Expenditure |
|
|
|
|
|
| |
a) Decrease / (Increase) in stock in trade and work in progress |
(89.95) |
55.68 |
(125.73) |
94.91 |
(7.12) |
| |
b) Consumption of raw materials & components |
3,450.36 |
3,105.34 |
6,894.11 |
6,000.21 |
12,327.83 |
| |
c) Employee Cost |
839.52 |
714.35 |
1,663.55 |
1,416.15 |
2,798.34 |
| |
d) Power & Fuel |
749.93 |
666.22 |
1,493.25 |
1,339.98 |
2,773.10 |
| |
e) Depreciation |
197.52 |
159.99 |
395.04 |
319.98 |
632.57 |
| |
f) Other expenditure |
912.57 |
900.61 |
1,707.67 |
1,683.81 |
3,421.40 |
| |
Total Expenditure ( a ... f ) |
6,059.95 |
5,602.19 |
12,027.89 |
10,855.04 |
21,946.12 |
| 3 |
Profit from Operations before Other Income, Interest & Exceptional items (1-2) |
491.85 |
411.59 |
811.35 |
689.09 |
1,800.59 |
| 4 |
Other Income |
- |
- |
- |
- |
- |
| 5 |
Profit before Interest & Exceptional items (3+4) |
491.85 |
411.59 |
811.35 |
689.09 |
1,800.59 |
| 6 |
Interest |
103.38 |
66.87 |
205.55 |
133.54 |
270.59 |
| 7 |
Profit after Interest but before Exceptional items (5-6) |
388.47 |
344.72 |
605.80 |
555.55 |
1,530.00 |
| 8 |
Exceptional items |
|
|
|
|
|
| |
Ex-gratia to employees under Early Retirement Scheme |
- |
- |
- |
- |
1.89 |
| 9 |
Profit from Ordinary Activities Before Tax (7-8) |
388.47 |
344.72 |
605.80 |
555.55 |
1,528.11 |
| 10 |
Tax expense |
|
|
|
|
|
| |
- Current Tax |
77.72 |
64.03 |
121.20 |
106.05 |
317.51 |
| |
- Deferred Tax |
3.67 |
26.50 |
3.67 |
26.50 |
20.00 |
| 11 |
Net Profit from Ordinary Activities After Tax |
307.08 |
254.19 |
480.93 |
423.00 |
1,190.60 |
| 12 |
Extraordinary Items (net of tax expense) |
|
|
|
|
|
| |
Amount paid to bank |
139.99 |
140.12 |
279.98 |
280.24 |
560.49 |
| 13 |
Net Profit for the period |
167.09 |
114.07 |
200.95 |
142.76 |
630.11 |
| 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 of previous accounting year |
|
|
|
|
9,308.88 |
| 16 |
Earnings Per Share (EPS) - in Rs. |
|
|
|
|
|
| |
a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs. |
7.80 |
6.46 |
12.22 |
10.75 |
30.26 |
| |
b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs. |
4.25 |
2.90 |
5.11 |
3.63 |
16.01 |
| 17 |
Public shareholding |
|
|
|
|
|
| |
- Number of shares |
1,392,734 |
1,395,734 |
1,392,734 |
1,395,734 |
1,392,734 |
| |
- Percentage of shareholding |
35.4% |
35.5% |
35.4% |
35.5% |
35.4% |
| 18 |
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) |
Nil |
Nil |
Nil |
Nil |
Nil |
| |
- Percentage of shares (as a % of the total share capital of the company) |
Nil |
Nil |
Nil |
Nil |
Nil |
| |
b) Non-encumbered |
|
|
|
|
|
| |
- Number of shares |
2,541,841 |
2,538,841 |
2,541,841 |
2,538,841 |
2,538,841 |
| |
- 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) |
64.6% |
64.5% |
64.6% |
64.5% |
64.5% |
| Note: |
| 1 |
Statement of Assets and Liabilities (Unaudited): |
As at 30.09.2011 |
As at 30.09.2010 |
| |
|
|
Rs. Lacs |
|
Rs. Lacs |
| |
|
(Unaudited) |
(Unaudited) |
|
| |
SHAREHOLDERS' FUNDS |
|
|
|
|
| |
(a) Capital |
393.46 |
|
393.46 |
|
| |
(b) Reserves & Surplus |
9,509.83 |
|
9,004.44 |
|
| |
|
|
9,903.29 |
|
9,397.90 |
| |
LOAN FUNDS |
|
3,795.33 |
|
3,650.13 |
| |
DEFERRED TAX LIABILITY |
|
1,348.43 |
|
1,351.26 |
| |
TOTAL |
|
15,047.05 |
|
14,399.29 |
| |
FIXED ASSETS |
|
8,628.56 |
|
7,799.74 |
| |
INVESTMENTS |
|
52.51 |
|
52.51 |
| |
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
| |
(a) Inventories |
1,549.97 |
|
1,031.50 |
|
| |
(b) Sundry Debtors |
5,184.41 |
|
4,690.04 |
|
| |
(c) Cash & Bank balances |
790.07 |
|
1,525.53 |
|
| |
(d) Other Current Assets |
587.78 |
|
489.94 |
|
| |
(e) Loans & Advances |
1,231.55 |
|
1,313.90 |
|
| |
|
9,343.78 |
|
9,050.91 |
|
| |
Less: Current Liabilities & Provisions |
|
|
|
|
| |
(a) Liabilities |
2,890.27 |
|
2,427.62 |
|
| |
(b) Provisions |
87.53 |
|
76.25 |
|
| |
|
2,977.80 |
|
2,503.87 |
|
| |
|
|
6,365.98 |
|
6,547.04 |
| |
TOTAL |
|
15,047.05 |
|
14,399.29 |
| 2 |
The operations of the Company relate only to one segment viz., friction materials. |
| 3 |
Status of investor grievances for the Quarter ended 30th September 2011:
Number of complaints received and disposed during the quarter - Nil. Number of complaints pending unresolved at the commencement and at the close of the quarter - NIL. |
| 4 |
Note on losses arising from derivative transactions: |
| |
As reported in earlier publications and Annual Accounts, the Company had entered into the arrangements for settlement of disputes arising out of certain derivative transactions entered into on behalf of the Company with some banks. The settlements were subject to fulfilment of payment obligations arising on the Company for specified years which have now been fully met by the Company. However though the liability for the balance settlement amounts will arise on the Company during next 18 months on specified dates in the settlement agreement, the payments already made by the Company will not create any further contingent or financial liability on the Company but the amounts so paid will be adjusted in Profit & Loss Account in the said 18 months. As per the practice followed in the past, the net amount paid by the Company relating to the period has been shown as Extraordinary Expenditure (net of tax). |
| 5 |
The above results and the Statement of Assets and Liabilities were reviewed by the Audit Committee and taken on record by the Board of Directors at its meeting held on 31st October 2011 and a limited audit review of the same has been carried out by the Statutory Auditors. |
| 6 |
Prior period figures have been regrouped wherever necessary to conform to current period classification. |
|
|
