Orient Paper & Industries Limited   
  
ORIENT PAPER & INDUSTRIES LTD.
[Regd. Office : Unit VIII, Plot 7, Bhoinagar, Bhubaneswar - 751012 (Orissa)]

Audited Financial Results for the year ended 31st March, 2007
Orient Paper & Industries Limited. Consolidated 
Sl. No. Particulars Nine months ended 31.12.06 Three months ended 31.03.07 Corres ponding three Months ended 31.03.2006 Current Accounting year ended 31.03.2007 (Audited) Previous Accounting year ended 31.03.2006 (Audited) Current Accounting year ended 31.03.2007 (Audited) Previous Accounting year ended 31.03.2006 (Audited) 
1 Gross Sales 87316.97 39163.64 32650.53 126480.61 100862.13 135613.13 110891.03
Less : Excise duty / Sales tax 11535.66 5264.35 4940.65 16800.01 15831.75 16865.77 15889.32
(a) Net Sales/Income from Operations 75781.31 33899.29 27709.88 109680.60 85030.38 118747.36 95001.71
(b) Know How & Service Fees 410.99 132.07 133.19 543.06 731.18 383.73 516.65
2   Other Income 537.47 901.17 326.79 1438.64 1455.11 1509.39 1569.20
3 Total Expenditure 59920.03 25078.89 22831.97 84998.92 75013.96 93351.54 83243.45
(a) Increase (-) / decrease (+) in Stock -2129.48   1514.86 2062.16 -614.62 680.55 -348.97 398.19
(b) Consumption of raw materials 23045.16 9761.90 8094.12 32807.06 26601.96 34975.60 29029.45
(c) Consumption of Stores , Chemicals & Spares 4640.34 1806.85 1727.80 6447.19 6651.43 7921.19 8025.26
(d) Power & Fuel 11183.94 4065.79 3743.51 15249.73 15535.93 18306.77 19116.78
(e) Staff Cost 5571.62 1842.46 1663.01 7414.08 6340.90 8375.84 7230.09
(f) Packing, Freight & Forwarding Charges (Net) 10799.21 3745.50 3400.72 14544.71 11429.06 14549.01 11432.92
(g) Deferred Revenue Expenditure written off 492.66 241.51 157.89 734.17 * 630.24 734.17 630.24
(h) Other Expenditure 6316.58 2100.02 1982.76 8416.60 7143.89 8837.93 7380.52
4 Profit(+)/Loss(-) before Interest, depreciation, prior period items & tax (1+2-3) 16809.74 9853.64 5337.89 26663.38 12202.71 27288.94 13844.11
5 Interest 2357.70 912.54 868.89 3270.24 4190.32 4599.92 5530.92
6 Profit (+)/Loss (-) before depreciation , prior period items & tax (4-5) 14452.04 8941.10 4469.00 23393.14 8012.39 22689.02 8313.19
7 Depreciation 1949.91 672.26 668.95 2622.17 2660.89 3290.24 3317.16
8 Profit (+)/Loss (-) before tax and prior period items( 6-7) 12502.13 8268.84 3800.05 20770.97 5351.50 19398.78 4996.03
9 Prior Period Items - Energy Development Cess for earlier years - 1168.55 - 1168.55 - 1168.55 -
- Gratuity Liability for earlier years - - 1847.53 - 1847.53 - 1855.31
10 Provision for Taxation       
Current Tax 1387.00 789.20 138.83 2176.20 193.00 2176.49 201.06
Mat Credit Entitlement 1387.00 962.40 2349.40** - 2349.40 -
Deferred Tax 4154.14 2449.00 735.73 6603.14 1012.75 6380.54 539.57
Fringe Benefit Tax 78.86 26.14 81.30 105.00 151.41 105.71 152.94
Excess Provision for taxation written back - -0.77 -10.97 -0.77 -10.97 -0.77 -10.97
11 Net Profit (+)/Loss (-) (8-9-10) 8269.13 4799.12 1007.63 13068.25 2157.78 11917.66 2258.12
12 Paid-up Equity Share Capital (Face Value per share : Rs. 10/-) 1483.75 1483.75 1483.75 1483.75 1483.75 1483.75 1483.75
13 Reserves excluding Revaluation Reserve 12849.10 1978.19 12481.84 3010.24
14 Basic and Diluted earning per share (EPS) (Rupees) #
EPS before prior period items 54.34 37.11 13.54 91.45 19.91 83.69 20.64
EPS after prior period items 54.34 31.88 6.33 86.22 12.70 78.47 13.37
15 Aggregate of Public holding
- Number of shares 10225351 10135113 10401873 10135113 10401873
- Percentage of shareholding 68.92 68.31 70.11   68.31 70.11
 
* Includes compensation under voluntary retirement scheme Rs.629.43 lacs.
** Includes Rs.176.20 lacs being adjustment towards MAT Credit entitlement for earlier years.
# After considering dividend on Cumulative Preference Shares in terms of Accounting Standard 20.
Notes :-
1 The Board recommends a final dividend of Rs.6/-(60%) per share on equity share of the company making a total dividend of Rs. 10/-(100%) per share including interim dividend declared earlier. The Board also recommends the dividend on preference share @ 12%per annum for the period from 01-01-07 to 31-03-07 .
2 Other income includes Rs. 642.34 lacs being the estimated net realisable value of Certified Emission Reduction (CER) units received during the quarter ended March 2007 at the Company's Cement Plant.
3 In view of net deferred tax liability of Rs. 3767.71 lacs as on 31st March, 2007 in terms of Accounting Standard - 22, the Auditor's comment in their report last year about the recognition of deferred tax asset has been duly taken care of.
4 There were no investor's complaints at the beginning and close of the quarter. The company had received twenty three complaints during the quarter which were resolved during the quarter.
5 The Consolidated financial results for 2006-2007 as indicated in the above table includes Orient Paper & industries Ltd., its wholly owned subsidiaries and proportionate share of Oversease Joint venture company.
6 Previous period figures have been regrouped / rearranged wherever necessary.
7 The abvoe 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 30th April, 2007.
  
Segment wise Revenue, Results and Capital Employed under Clause 41 of the Listing Agreement
 
(Rs. in Lacs)
Sl. No. Particulars Quarter Ended Nine months ended Year Ended
    31.12.06 31.12.05    31.12.06 31.12.05 31.03.06 (Audited)
1 Segment Revenue :          
  a) Paper & Board 18919.09 7339.28 7280.52 26258.37 26332.11
  b) Cement    42502.38 16668.69 12554.82 59171.07 39507.35
  c) Electric Fans 14359.84 9891.32 7874.54 24251.16  19190.92
  d) Know-How & Service Fees 410.99 132.07 133.19 543.06 731.18
  Total 76192.30 34031.36 27843.07 110223.66 85761.56
  Less : Inter Segment Revenue - - - - -
  Net Sales/Income from Operations 76192.30 34031.36 27843.07 110223.66 85761.56
             
2 Segment Results (Profit)+/Loss(-) before Interest, Prior Period Items & Tax) :
  a) Paper & Board - Amlai 1535.93 1038.92 1098.78 2574.85 3298.46
  - Brajrajnagar * -927.46 -350.49 -310.56 -1277.95 -1210.30
    608.47 688.43 788.22 1296.90 2088.16
  b) Cement 14795.80 7827.20 3033.02 22623.00 5458.79
  c) Electric Fans 23.21 758.51 743.25 781.71 1191.99
  d) Know-How & Service Fees 365.41 87.57 115.44 452.98 731.91
  Total 15792.89 9361.71 4679.93 25154.59 9470.85
  Less :          
  (i) Interest 2357.70 912.55 868.89 3270.24 4190.32
  (ii) Other un-allocable expenditure net of un-allocable income 933.06 180.32 10.99 1113.38 -70.97
  Total Profit before Prior Period Items & Tax 12502.13 8268.84 3800.05 20770.97 5351.50
  Less : Prior Period Items - 1168.55 1847.53 1168.55 1847.53
  Total Profit before Tax 12502.13 7100.29 1952.52 19602.42  3503.97 
3 Capital Employed :          
  a) Paper & Board    13230.19 12058.77 13251.62 12058.77 13251.62
  b) Cement 22013.34 23997.46 21072.95 23997.46 21072.95
  c) Electric Fans      5743.98 6161.46 4993.35 6161.46 4993.35
  d) Know-How & Service Fees 1947.65 2050.23 1560.19 2050.23 1560.19
  Total 42935.16  44267.92 40878.11 44267.92 40878.11
  
Copyright © 2007-2008 ORIENT PAPER & INDUSTRIES LTD.