Orient Paper & Industries Limited   
  
  
  
    
   
  
    
 

ORIENT PAPER & INDUSTRIES LTD.
[Regd. Office : Unit VIII, Plot 7, Bhoinagar, Bhubaneswar - 751012 (Orissa)]
  
Unaudited Financial Results for the quarter ended 30th June, 2009
        (Rs. in Lacs)
Sl. No. Particulars Quarter Ended Year Ended
    30.06.09
(Unaudited)

30.06.08
(Unaudited)

 31.03.09 (Audited)
1 Gross Sales/Income from Operations 37627.01 36962.74 169063.36
  Less : Excise duty 3100.88  4776.57 18745.60
  (a) Net Sales/Income from Operations 34526.13  32186.17  150317.76
  (b) Other Operating Income 168.16   88.30 1636.03
  Total Income 34694.29  32274.47  151953.79
2 Expenditure 29070.67   24307.94 114652.28
  (a) Increase(-)/decrease(+) in Stock in trade and work-in-progress -1072.61   -1100.99 201.66
  (b) Purchases of Trading Goods 2156.64 1306.54 6037.22
  (c) Consumption of raw materials 10895.30  8813.95  36498.30
  (d) Consumption of Stores , Chemicals & Spares 1082.45  1222.22  7251.26
  (e) Power & Fuel 4398.98  4532.73  21461.25
  (f) Employees Cost 2441.36   2073.26 8686.15
  (g) Packing, Freight & Forwarding Charges 4188.17  4432.27  18830.97
  (h) Deferred Revenue Expenditure written off * 58.01  77.59  311.94
  (I) Depreciation 892.65  772.62  3471.39
  (j) Other Expenditure 4029.72   2177.75 11902.14
3 Profit from Operations before Other Income, Interest, Exceptional Items & tax (1-2) 5623.62   7966.53 37301.51
4 Other Income 85.30  112.71  645.16
5 Profit before Interest, Exceptional Items & tax (3+4) 5708.92  8079.24  37946.67
6 Interest 607.08  407.86  2067.92
7 Profit after Interest but before Exceptional Items & tax (5-6) 5101.84  7671.38  35878.75
8 Exceptional items - 1,006.31  4865.88
9 Profit from Ordinary Activities before tax (7-8) 5101.84   6665.07 31012.87
10 Tax Expenses      
  Current Tax 1,848.00 2,713.00 10445.75
  MAT Credit Entitlement (Net) - - (75.98)
  Deferred Tax (119.38)  (686.75)  471.70
  Fringe Benefit Tax 28.00 28.05 162.00
11 Net Profit from Ordinary Activities after tax (9-10) 3345.22   4610.77 20009.40
12 Paid-up Equity Share Capital (Face Value per share : Re.1/-) 1928.46  1927.38  1927.67
13 Reserves excluding Revaluation Reserve - - 62318.24
14 Basic and Diluted earning per share (EPS) (Rupees) # 1.73  2.38  10.36
15 Aggregate of Public Shareholding      
  - Number of shares 122090943  123559430  121889205
  - Percentage of shareholding 63.30  64.06 63.19
16 Promoters and Promoter Group Share Holding      
  (a) Pledged / Encumbered      
  Number of shares Nil   Nil
  Percentage of shares (as % of the total shareholding of promoter and promoter group) Nil   Nil
  Percentage of shares (as % of the total share capital of the company) Nil   Nil
  (b) Non- Encumbered      
  Number of shares 70793827   70995565
  Percentage of shares (as % of the total shareholding of promoter and promoter group) 100%   100%
  Percentage of shares (as % of the total share capital of the company) 36.70   36.81
 * Represents compensation under voluntary retirement scheme.
Notes:- 
1 Limited Review of the above quarterly results has been carried out by the statutory auditors of the Company.
2 Results for the quarter were adversely impacted due to (i) prolonged shut down of the paper plant for up gradation of the pulp mill (ii) lower clinker production because of stoppage of Kiln No. 1 for up gradation and Kiln No. 2 for relining, which was partially made up by purchase of clinker at higher cost. All Plants have since become operational.
3. There were no investor complaints at the beginning and the close of the quarter. The company had received three complaints during the quarter, which were resolved during the quarter.
4. There were no extraordinary items during the quarter ended 30th June '2009.
5. The Board of Directors of the Company has decided to amalgamate its wholly owned Subsidiaries, namely Air Conditioning Corporation Ltd and OPI Exports Ltd with the Company with effect from 1st April'2009 subject to necessary approvals. Pending approvals of the aforesaid amalgamation, the operational results pertaining to the said subsidiaries for the period from 1st April,2009 to 30th June,2009 have not been incorporated in the above results.
6. Provision against demand for Water Tax, which has been referred to by the auditors in their report on accounts for the year ended 31st March, 2009, has been continued on the same basis since the demand is currently stayed and under reconsideration by the Government of Madhya Pradesh.
7. In terms of Finance Bill 2009, Fringe Benefit Tax (FBT) is proposed to be withdrawn effective from 1st April, 2009. However, pending passing of the budget, provision for FBT for the quarter has been made.
8. The above financial results for the quarter ended 30th June, 2009 include results relating to chemical unit for the quarter, which had been transferred to the Company as per a scheme of arrangement with effect from 1st October, 2008, wheras the corresponding quarter in the previous year does not include the results of the above unit.
9. Previous period figures have been regrouped / rearranged wherever necessary.
10. The above results were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held on 27th July, 2009.

Segment wise Revenue, Results and Capital Employed under Clause 41 of the Listing Agreement
Sl. No.  Particulars

Quarter Ended

Year Ended

 

  

30.06.09
(Unaudited)

30.06.08
(Unaudited)

 31.03.09
(Audited)
1 Segment Revenue:
  a) Cement  21549.39  21158.67  87174.67
  b) Paper & Board 2793.42   3416.80 29000.47
  c) Electrical Consumer Durables 10183.32  7610.70  34142.62
  d) Others - - -
  Total 34526.13   32186.17 150317.76
    Less : Inter Segment Revenue - - -
  Net Sales/Income from Operations 34526.13   32186.17 150317.76
2 Segment Results : (Profit (+)/Loss(-) before interest & Tax from each segment) : 6811.93  8411.04  34261.60
  a) Cement (2,108.78)   (396.57) 1115.56
  b) Paper & Board - Amlai (175.52)   (198.39) (755.40)
  - Brajrajnagar * (2,284.30)   (594.96) 360.16
  c) Electrical Consumer Durables 1510.57  456.67  3388.54
  d) Others - - -
  Total 6038.20  8272.75  38010.30
  Less:      
  (i)  Interest 607.08  407.86  2067.92
  (ii) Other un-allocable expenditure net of un-allocable income 329.28  1199.82  4929.51
  Profit Before Tax 5101.84  6665.07  31012.87
3 Capital Employed:
  a) Cement 79781.28  45458.37 75939.61
  b) Paper & Board 27616.45  20225.36  27889.60
  c) Electrical Consumer Durables 8192.30  7558.31  11300.03
  d) Others - 1657.29 -
  Total 115590.03   74899.33 115129.24
* Shown separately since the unit is non - operational.
  
   
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