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,2011
             
Sl. No. Particulars Nine months ended 31-12-2010
(Unaudited)		 Three months ended 31-03-2011 (Unaudited) Corrosponding three months ended 31-03-2010(Unaudited) Current Accounting year ended 31-03-2011(Audited) PreviousAccounting year ended 31-03-2010
(Audited)
1 Gross Sales/Income from Operations 140339.48 77161.27 60110.30 217500.75 176854.39
  Less : Excise duty 14047.43 7555.78 5310.52 21603.21 14878.93
  (a)Net Sales/Income from Operations 126292.05 69605.49 54799.78 195897.54 161975.46
  (b) Other Operating Income 1662.06 1376.50 430.16 3038.56 987.14
  Total Income 127954.11 70981.99 55229.94 198936.10 162962.60
2 Expenditure 115823.95 58711.01 46198.95 174534.96 136740.51
  (a) Increase (-) / decrease (+) in Stock in trade and work-in-progress (5090.60) 5488.03 3759.29 397.43 (2768.11)
  (b) Purchase of Traded Goods 5363.44 3705.17 2771.49 9068.61 8295.58
  (c) Consumption of raw materials 40444.14 20479.75 14761.73 60923.89 48112.70
  (d) Consumption of Stores , Chemicals & Spares 4236.07 1858.45 1453.17 6094.52 5428.33
  (e) Power & Fuel 24543.41 8449.98 8156.12 32993.39 26797.03
  (f) Employees Cost 8691.26 3222.83 2747.58 11914.09 10784.84
  (g) Packing, Freight & Forwarding Charges (Net) 17405.30 8278.33 6048.04 25683.63 18866.26
  (h) Deferred Revenue Expenditure written off - - 58.00 - 232.05
  (I) Depreciation 5997.96 2150.24 1881.29 8148.20 5501.36
  (j) Other Expenditure 14232.97 5078.23 4562.24 19311.20 15490.47
3 Profit from Operations before Other Income, Interest & tax ( 1-2) 12130.16 12270.98 9030.99 24401.14 26222.09
4 Other Income 549.71 177.88 174.07 727.59 641.72
5 Profit before Interest & tax ( 3 + 4) 12679.87 12448.86 9205.06 25128.73 26863.81
6 Interest 2839.75 1337.86 1105.73 4177.61 3453.27
7 Profit after Interest but before tax (5-6) 9840.12 11111.00 8099.33 20951.12 23410.54
8 Tax Expenses          
  Current Tax 1,966.11 2273.86 4290.33 4239.97 4780.65
  MAT Credit (Entitlement ) / Reversal (405.00) 298.00 (3310.00) (107.00) (3311.24)
  Deferred Tax 1715.81 791.89 1635.12 2507.70 6010.25
9 Net Profit from Ordinary Activities after tax (7-8) 6563.20 7747.25 5483.88 14310.45 15930.88
10 Paid-up Equity Share Capital (Face Value per share : Re.1/-) 1928.76 1928.77 1928.67 1928.77 1928.67
11 Paid-up Debt Capital       10000.00 10000.00
12 Reserves excluding Revalution Reserve       85670.60 74733.94
13 Debenture Redemption Reserve (included in item 12 above)       4,875.00 4375.00
14 Erning per share (EPS) (Face value of Re.1 each))          
  Basic 3.40 4.02 2.84 7.42 8.26
  Diluted 3.40 4.01 2.84 7.41 8.26
15 Debt Equity Ratio       0.34 0.43
16 Debt Service Coverage Ratio       4.22 6.99
17 Interest Service Coverage Ratio       6.97 7.46
18 Aggregate of Public Shareholding          
  - Number of shares 128054848 128054848 128259273 128054848 128259273
  - Percentage of shareholding 66.39% 66.39% 66.50% 66.39% 66.50%
19 Promoters and Promoter Group Share Holding          
a) Pledged / Encumbered          
  Number of shares Nil Nil Nil Nil Nil
  Percentage of shares (as % of the total shareholding of          
  promoter and promoter group Nil Nil Nil Nil Nil
  Percentage of shares (as % of the total share capital of the company) Nil Nil Nil Nil Nil
             
b) Non- Encumbered          
  Number of shares 64829922 64829922 64625497 64829922 64625497
  Percentage of shares (as % of the total shareholding of          
  promoter and promoter group) 100% 100% 100% 100% 100%
  Percentage of shares (as % of the total share capital of the company) 33.61% 33.61% 33.50% 33.61% 33.50%
Notes :-
1 The Board recommends a dividend of Rs 1.50 per share (150 %) on equity shares of the Company. The Board also recommends dividend on preference shares @ 6% for the current year.
2 Pursuant to the Scheme of Amalgamation as approved by the shareholders of the Company and the Hon’ble High Court at Calcutta by an order dated 22nd November 2010, OPI Export Ltd. , a wholly owned subsidiary of the company , has been merged with the company w.e.f. 1st April, 2010.s
3 Ratios have been computed as follows:
  Debt Service Coverage Ratio = Earning before interest, depreciation, tax and exceptional items / [interest expenses (including interest capitalised)+ principal repayment ]
  Interest Service Coverage Ratio = Earning before interest, depreciation , tax and exceptional items / interest expenses(including interest capitalised).
  Debt represents long term loans / debentures.
  Equity represents Issued, Subscribed and Paid up Share Capital and Reserves & Surplus ( excluding revaluation reserve).
4 Paid up Debt Capital represents listed Debentures.
5 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, 2011, has been paid / provided to the extent of liablity admitted by the Company for the period upto April,2009 i.e. the period prior to new agreement effective from May,2009 entered into with the Water Resources Department. No provision against the balance demand of Rs. 17076.58 lacs has been made since the Company's application for waiver thereof is under consideration by the government of Madhya Pradesh.
6 During the quarter, the Company has allotted 1,20,00,000 share warrants on a preferential basis to certain promoter group companies on 18th March 2011. Each warrant is convertible (at the sole option of the warrant holder) into one equity share of Re 1/- each at a price of Rs. 57.25 per share at any time within a period of 18 months from the date of allotment. Further, the Company has received 25% amount against each such warrant.
7  
8 There were no exceptional and extraordinary items during the quarter / year ended 31st March,2011.
9 Previous period figures have been recasted/regrouped 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 April, 2011.
 
Statement of Assets and Liablities:
Particulars ORIENT PAPER & INDUSTRIES LTD
AUDITED
As at 31st March 2011 As at 31st March 2010
     
SHAREHOLDERS' FUNDS:     
(a)  Share Capital 2028.77 2028.67
(b)  Share Warrants 1717.5 -
(b)  Reserves & Surplus  86515.97 75640.20
     
LOANS FUNDS  54395.58 51351.73
   
DEFERRED PAYMENT LIABILITIES 197.04 273.04
     
DEFERRED TAX LIABILITY (Net) 13535.51 11027.81
Total  158390.37 140321.45
     
Less : CURRENT LIABILITIES & PROVISIONS    
(a) Current Liabilities 28205.16 23463.23
(b) Provisions 6825.59 8069.47
Sub Total 35030.75 31532.70
NET CURRENT ASSETS 25635.48 18340.64
TOTAL 158390.37 140321.45
 
Segment wise Revenue, Results and Capital Employed under Clause 41 of the Listing Agreement (Rs. In lacs )
Sl. No. Particulars Nine months ended 31-12-2010
(Unaudited)		 Three months ended 31-03-2011
(Unaudited)		 Corrosponding three months ended 31-03-2010
(Unaudited)		 Current Accounting year ended 31-03-2011
(Unaudited)		 PreviousAccounting year ended 31-03-2010(Unaudited)
1 Segment Revenue :          
  a) Cement 69900.15 33423.98 27402.81 103324.13 89475.79
  b) Paper & Board 17964.19 9772.29 7859.35 27736.48 23938.18
  c) Electrical Consumer Durables 38006.21 26220.00 19387.52 64226.21 48084.92
  d) Others 421.50 189.22 150.10 610.72 476.57
  Total 126292.05 69605.49 54799.78 195897.54 161975.46
  Less : Inter Segment Revenue - - - - -
Net Sales/Income from Operations 126292.05 69605.49 54799.78 195897.54 161975.46
             
2 Segment Results : (Profit (+)/Loss(-) before interest 2& Tax from each segment) :
  a) Cement 12952.01 10358.67 7556.78 23310.68 25390.60
  b) Paper & Board - Amlai (2036.80) (812.84) (947.54) (2849.64) (3596.11)
  - Brajrajnagar * (355.99) (124.24) (190.28) (480.23) (716.36)
    (2392.79) (937.08) (1137.82) (3329.87) (4312.47)
  c) Electrical Consumer Durables 2638.62 3092.53 2810.89 5731.15 6174.52
  d) Others 50.89 19.90 (6.23) 70.79 26.17
  Total 13248.73 12534.02 9223.62 25782.75 27278.82
  Less :          
  (i) Interest 2839.75 1337.86 1105.73 4177.61 3453.27
  (ii) Other un-allocable expenditure net of un-allocable income 568.86 85.16 18.56 654.02 415.01
Profit Before Tax 9840.12 11111.00 8099.33 20951.12 23410.54
3 Capital Employed :
  a) Cement 94925.21 93600.01 88877.62 93600.01 88877.62
  b) Paper & Board 32788.45 32733.64 28858.71 32733.64 28858.71
  c) Electrical Consumer Durables 15730.61 20493.06 14374.96 20493.06 14374.96
  d) Others 106.63 98.99 134.97 98.99 134.97
  Total 143550.90 146925.70 132246.26 146925.70 132246.26
             
NEW DELHI
27th April,2011		         By Order of the Board for
ORIENT PAPER & INDUSTRIES LTD.

          M.L.PACHISIA
(Managing Director)
 
 
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