| UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 30th SEPTEMBER 2010 |
| Rs. lacs |
| |
Particulars |
For the Quarter / three
months ended |
For the six months ended |
Year ended |
| 30.09.2010 |
30.09.2009 |
30.09.2010 |
30.09.2009 |
31.03.2010 |
| (Unaudited) |
(Unaudited) |
(Audited) |
| 1 |
(a) Net Sales |
5,958.96 |
4,783.81 |
11,457.99 |
8,928.77 |
19,933.16 |
|
(b) Other
Operating Income |
54.82 |
12.71 |
86.14 |
16.96 |
113.30 |
|
Total Income |
6,013.78 |
4,796.52 |
11,544.13 |
8,945.73 |
20,046.46 |
| 2. |
Expenditure |
|
a) Decrease /
(Increase) in stock in trade and work in progress |
55.68 |
(167.05) |
94.91 |
(165.69) |
(5.37) |
| |
b) Consumption of raw materials & components |
3,105.34 |
2,382.49 |
6,000.21 |
4,275.95 |
9,684.22 |
| |
c) Employee Cost |
714.35 |
600.11 |
1,416.15 |
1,169.90 |
2,355.71 |
| |
d) Power & Fuel |
666.22 |
560.38 |
1,339.98 |
1,015.12 |
2,267.65 |
| |
e) Depreciation |
159.99 |
147.63 |
319.98 |
295.26 |
593.52 |
| |
f) Other expenditures |
900.61 |
819.15 |
1,683.81 |
1,482.45 |
3,408.17 |
| |
Total Expenditure ( a ... f ) |
5,602.19 |
4,342.71 |
10,855.04 |
8,072.99 |
18,303.90 |
| 3 |
Profit from
Operations before Other Income, Interest & Exceptional items (1-2) |
411.59 |
453.81 |
689.09 |
872.74 |
1,742.56 |
| 4 |
Other Income |
- |
- |
- |
- |
- |
| 5 |
Profit before
Interest & Exceptional items (3+4) |
411.59 |
453.81 |
689.09 |
872.74 |
1,742.56 |
| 6 |
Interest |
66.87 |
65.83 |
133.54 |
137.92 |
219.44 |
| 7 |
Profit after
Interest but before Exceptional items (5-6) |
344.72 |
387.98 |
555.55 |
734.82 |
1,523.12 |
| 8 |
Exceptional items |
|
|
|
|
|
| 9 |
Profit from Ordinary
Activities Before Tax (7-8) |
344.72 |
387.98 |
555.55 |
734.82 |
1,523.12 |
| 10 |
Tax expense |
|
|
|
|
|
| |
- Current Tax |
64.03 |
88.24 |
106.05 |
215.98 |
373.96 |
| |
- Deferred Tax |
26.50 |
17.25 |
26.50 |
7.75 |
33.00 |
| 11 |
Net Profit from
Ordinary Activities After Tax |
254.19 |
282.49 |
423.00 |
511.09 |
1,116.16 |
| 12 |
Extraordinary Items (net of tax expense) |
|
|
|
|
|
| |
Amount paid to a bank |
140.12 |
124.76 |
280.24 |
249.52 |
499.04 |
| 13 |
Net Profit for
the period |
114.07 |
157.73 |
142.76 |
261.57 |
617.12 |
| 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 |
|
|
|
|
8,861.68 |
| 16 |
Earnings Per Share
(EPS) - in Rs. |
|
|
|
|
|
|
a) Basic and
diluted EPS before Extraordinary items (not annualised) - in Rs. |
6.46 |
7.18 |
10.75 |
12.99 |
29.83 |
|
b) Basic and
diluted EPS after Extraordinary items (not annualised) - in Rs. |
2.90 |
4.01 |
3.63 |
6.65 |
16.49 |
| 17 |
Public shareholding |
|
|
|
|
|
|
- Number of shares |
1,395,734 |
1,395,734 |
1,395,734 |
1,395,734 |
1,395,734 |
|
- Percentage of
shareholding |
35.5% |
35.5% |
35.5% |
35.5% |
35.5% |
| 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 |
2,538,841 |
2,538,841 |
2,538,841 |
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) |
64.5% |
64.5% |
64.5% |
64.5% |
64.5% |
| Notes: |
| 1 |
Statement of Assets and Liabilities (Unaudited): |
As at 30.09.2010 |
As at 30.09.2009 |
|
|
|
|
Rs.Lacs |
|
Rs.Lacs |
|
|
|
(Unaudited) |
(Unaudited) |
|
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
(a) Capital |
393.46 |
|
393.46 |
|
|
|
(b) Reserves & Surplus |
9,004.44 |
|
8,690.26 |
|
|
|
|
|
9,397.90 |
|
9,083.72 |
|
|
LOAN FUNDS |
|
3,650.13 |
|
2,800.48 |
|
|
DEFERRED TAX LIABILITY |
|
1,351.26 |
|
1,299.51 |
|
|
TOTAL |
|
14,399.29 |
|
13,183.71 |
|
|
FIXED ASSETS |
|
7,799.74 |
|
6,942.36 |
|
|
INVESTMENTS |
|
52.51 |
|
52.51 |
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
(a) Inventories |
1,031.50 |
|
1,104.08 |
|
|
|
(b) Sundry Debtors |
4,690.04 |
|
4,110.90 |
|
|
|
(c) Cash & Bank balances |
1,525.53 |
|
1,599.67 |
|
|
|
(d) Other Current Assets |
489.94 |
|
626.85 |
|
|
|
(e) Loans & Advances |
1,313.90 |
|
1,155.36 |
|
|
|
|
9,050.91 |
|
8,596.86 |
|
|
|
Less: Current Liabilities & Provisions |
|
|
|
|
|
|
(a) Liabilities |
2,427.62 |
|
2,339.16 |
|
|
|
(b) Provisions |
76.25 |
|
68.86 |
|
|
|
|
2,503.87 |
|
2,408.02 |
|
|
|
|
|
6,547.04 |
|
6,188.84 |
|
|
TOTAL |
|
14,399.29 |
|
13,183.71 |
|
| 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 2010:
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, there were disputes arising out of certain derivative transactions entered into on behalf of the Company with some banks and the disputes relating to such transactions with all banks have been settled. The net amount paid by the Company relating to the period has been shown as Extraordinary Expenditure (net of tax). If the Company defaults in case of its financial commitments under the said settlement, the entire amount claimed by the Bank (net of payments made) equivalent to Rs. 84.12 Crores would become payable. |
| 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 27th October 2010 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. |
|
|
