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, 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
  
   
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