|
ORIENT PAPER
& INDUSTRIES LTD.
[Regd. Office :
Unit VIII, Plot 7, Bhoinagar, Bhubaneswar - 751012 (Orissa)]
|
| |
| Unaudited Financial
Results for the quarter ended 30th June, 2006 |
| |
|
|
|
(Rs. in Lacs) |
| Sl.
No. |
Particulars |
Quarter Ended |
Year Ended |
| |
|
30.06.06 |
30.06.05
|
31.03.06
(Audited) |
| 1 |
Gross Sales/Income from
Operations |
29976.38 |
23865.50 |
100862.13 |
| |
Less : Excise duty / Sales tax |
4135.89 |
3895.62 |
15831.75 |
| |
(a) Net Sales/Income from Operations |
25840.49 |
19969.88 |
85030.38 |
| |
(b) Know How & Service Fees |
- |
130.42 |
731.18 |
| 2 |
Other Income |
138.33 |
47.39 |
1455.11 |
| 3 |
Total Expenditure |
20501.20 |
17912.65 |
75013.96 |
| |
(a) Increase (-) / decrease (+) in
Stock |
-381.62 |
61.76 |
680.55 |
| |
(b) Consumption of raw materials |
7690.67 |
5990.18 |
26601.96 |
| |
(c) Consumption of Stores , Chemicals
& Spares |
1691.80 |
1693.00 |
6651.43 |
| |
(d) Power & Fuel |
3690.31 |
4123.68 |
15535.93 |
| |
(e) Staff Cost |
1664.53 |
1499.39 |
6340.90 |
| |
(f) Packing, Freight & Forwarding
Charges (Net) |
3616.85 |
2707.07 |
11429.06 |
| |
(g) Deferred Revenue Expenditure
written off |
146.76 |
155.86 |
630.24 |
| |
(h) Other Expenditure |
2381.90 |
1681.71 |
7143.89 |
| 4 |
Profit before interest, depreciation, prior period item & tax (1+2-3) |
5477.62 |
2235.04 |
12202.71 |
| 5 |
Interest |
920.24 |
1135.01 |
4190.32 |
| 6 |
Profit
before depreciation , prior period item & tax (4-5) |
4557.38 |
1100.03 |
8012.39 |
| 7 |
Depreciation |
643.69 |
659.74 |
2660.89 |
| 8 |
Profit before prior period item &
tax ( 6-7) |
3913.69 |
440.29 |
5351.50 |
| 9 |
Prior Period Item - Gratuity
Liability for earlier years |
- |
- |
1847.53 |
| 10 |
Profit before tax ( 8-9) |
3913.69 |
440.29 |
3503.97 |
| 11 |
Provision for Taxation |
|
|
|
| |
Current Tax |
439.97 |
17.36 |
193.00 |
| |
MAT Credit Entitlement |
(439.97) |
- |
- |
| |
Deferred Tax |
1317.35 |
148.20 |
1012.75 |
| |
Fringe Benefit Tax |
25.01 |
17.00 |
151.41 |
| |
Excess provision for taxation
written-back |
- |
- |
-10.97 |
| 12 |
Net Profit (10-11) |
2571.33 |
257.73 |
2157.78 |
| 13 |
Paid-up Equity
Share Capital (Face Value per share : Rs. 10/-) |
1483.75 |
1483.75 |
1483.75 |
| 14 |
Reserves excluding Revalution Reserve |
|
|
1978.19 |
| 15 |
Basic and Diluted
earning per share (EPS) (Rupees) |
|
|
|
| |
EPS after prior period item |
16.93 |
1.33 |
12.70 |
| |
EPS
before prior period item |
16.93 |
1.33 |
19.91 |
| 16 |
Aggregate of Non-Promoter holding |
|
|
|
| |
- Number
of shares |
10395376 |
10378173 |
10401873 |
| |
-
Percentage of shareholding |
70.06 |
69.95 |
70.11 |
| * |
Includes compensation
under voluntary retirement scheme Rs.125.26 lacs ( Rs.118.85 lacs ) |
| # |
After considering
proportionate dividend on Cumulative Preference Shares in terms of Accounting
Standard 20 |
| |
| Notes:- |
| 1 |
Limited Review of the
above quarterly results has been carried out by the statutory auditors of the
Company. |
| 2 |
In view of Accounting Standard - 9, Income from Know How & Service Fees and interest on
loans/debts receivables from the Joint Venture Company viz. Pan African Paper
Mills, (E.A.) Ltd., Kenya amounting to Rs. 237.23 lacs for the quarter ended
30th June, 2006 has not been accounted for as a matter of prudence. |
| 3 |
In view of Accounting
Standard 22 on "Accounting for taxes on income", deferred tax
liability of Rs.1317.35 lacs for the quarter ended 30th, June 2006 has been
accounted for .The management, based on net profit achieved during the year
2005-06 as well as during the quarter ended 30th June, 2006 and based on the
future profitability projections is certain that there would be sufficient
taxable income in future to claim the tax credit earlier recognised in the
accounts. |
| 4 |
In view of brought
forward taxable losses, Minimum Alternate Tax (MAT) liability as per Section
115JB of the Income Tax Act, 1961 has been provided which being available as
tax credit for set-off in future years, as per Section 115JAA of the Income
Tax Act, 1961, has been carried forward as recoverable under "MAT Credit
Entitlement". |
| 5 |
There
were no investor's complaints at the beginning and close of the quarter. The
company had received four complaints during the quarter which were resolved
during the quarter. |
| 6 |
Previous period
figures have been regrouped / rearranged wherever necessary. |
| 7 |
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 24th July,
2006. |
| |
|
Segment wise
Revenue, Results and Capital Employed under Clause 41 of the Listing
Agreement
|
| Sl. No. |
Particulars |
Quarter Ended
|
Year Ended
|
|
|
30.06.06 |
30.06.05
|
31.03.06
(Audited) |
| 1 |
Segment Revenue: |
| |
a) Paper & Board |
6808.25 |
6232.52 |
26332.11 |
| |
b) Cement |
14160.36 |
9911.08 |
39507.35 |
| |
c) Electric Fans |
4871.88 |
3826.28 |
19190.92 |
| |
d) Know-How & Service Fees |
- |
130.42 |
731.18 |
| |
Total |
25840.49 |
20100.30 |
85761.56 |
| |
Less : Inter Segment
Revenue |
- |
- |
- |
| |
Net Sales/Income from Operations |
25840.49 |
20100.30 |
85761.56 |
| |
|
|
|
|
| 2 |
Segment
Results : Profit (+)/Loss(-) before interest, prior |
| |
period item & Tax from each segment): |
|
|
|
| |
a) Paper & Board - Amlai |
1154.73 |
882.26 |
3298.46 |
| |
-
Brajrajnagar * |
-279.03 |
-299.34 |
-1210.30 |
| |
|
875.70 |
582.92 |
2088.16 |
| |
b) Cement |
4752.73 |
1198.90 |
5458.79 |
| |
c) Electric Fans |
-82.80 |
32.06 |
1199.42 |
| |
d) Know-How & Service Fees |
53.96 |
121.29 |
731.91 |
| |
Total |
5599.59 |
1935.17 |
9478.28 |
| |
Less: |
|
|
|
| |
(i)
Interest |
920.24 |
1135.01 |
4190.32 |
| |
(ii) Other
un-allocable expenditure |
|
|
|
| |
Net of un-allocable income |
765.66 |
359.87 |
-63.54 |
| |
Total Profit before
prior period item & Tax |
3913.69 |
440.29 |
5351.50 |
| |
Less : Prior Period Item - Gratuity
Liability for earlier years |
- |
- |
1847.53 |
| |
Total Profit before Tax |
3913.69 |
440.29 |
3503.97 |
| 3 |
Capital Employed: |
| |
a) Paper & Board |
13449.13 |
14181.09 |
13251.62 |
| |
b) Cement |
20997.62 |
21219.68 |
21072.95 |
| |
c) Electric Fans |
4196.95 |
3796.41 |
4993.35 |
| |
d) Know-How & Service Fees |
1620.70 |
928.64 |
1560.19 |
| |
Total |
40264.40 |
40125.82 |
40878.11 |
