Orient Paper & Industries Limited   
  
 
 
    
   
 
    

ORIENT PAPER & INDUSTRIES LTD.
[Regd. Office : Unit VIII, Plot 7, Bhoinagar, Bhubaneswar - 751012 (Orissa)]
Unaudited Financial Results for the Quarter / Nine Months ended
31st December,2010

 
          (Rs. in Lacs)
Sl. No. Particulars Quarter Ended Nine Months Ended Year Ended
    31-12-2010
(UnAudited)		 31-12-2008
(UnAudited)		 31-12-2010
(UnAudited)		 31-12-2009
(UnAudited)		 31.03.2010
(Audited)
1 Gross Sales/Income from Operations
48429.81 40627.75 140339.48 116744.09 176854.39
  Less : Excise duty 4588.43 3506.79 14047.43 9568.4 14878.93
  (a) Net Sales/Income from Operations 43841.38 37120.96 126292.05 107175.69 161975.46
  (b)Other Operating Income 221.62 228.87 1662.06 605.21 987.14
  Total Income 44063 37349.83 127954.11 107780.9 162962.6
2 Expenditure 38506.35 32022.93 115823.95 90589.76 136740.51
  (a) Increase (-) / decrease (+) in Stock in trade and work-in-progress (-3068.72) (-3071.81) (5090.60) (6527.44) (2768.11)
  (b) Purchases of Traded Goods 1496.42 1317 5363.44 5524.09 8295.58
  (c) Consumption of raw materials 14868.66 11712.63 40444.14 33350.96 48112.7
  (d) Consumption of Stores , Chemicals & Spares 1822.91 1407.39 4236.07 3975.16 5428.33
  (e) Power & Fuel 8162.81 7995.21 24543.41 18640.92 26797.03
  (f) Employees Cost 3024.52 2608.68 8691.26 7802.34 10549.92
  (g) Packing, Freight & Forwarding Charges 5983 4454.86 17405.3 12818.22 18866.26
  (h) Deferred Revenue Expenditure written off - 58.02 - 174.05 232.05
  (I) Depreciation 2077.42 1634.91 5997.96 3620.07 5501.36
  (j) Other Expenditure 5032.9 3906.04 14232.97 11211.39 15725.39
3 Profit from Operations before Other Income, Interest & tax (1-2) 5556.65 5326.90 12130.16 17191.14 26222.09
4 Other Income 135.52 99.42 549.71 467.65 641.72
5 Profit before Interest & tax (3+4) 5692.17 5426.32 12679.87 17658.79 26863.81
6 Interest 1072.88 1015.21 2839.75 2347.54 3453.27
7 Profit after Interest but before tax (5-6) 4619.29 4411.11 9840.12 15311.25 23410.54
8 Tax Expenses          
  Current Tax 922 -492.37 1,966.11 490.32 4780.65
  MAT Credit (Entitlement) / Reversal 9 (-1.24) (-405) (-1.24) (-3311.24)
  Deferred Tax 598.07 1880.79 1715.81 4375.13 6010.25
9 Net Profit from Ordinary Activities after tax (7-8) 3090.22 3023.93 6563.20 10447.04 15930.88 
10 Paid-up Equity Share Capital (Face Value per share : Re.1/-) 1928.76 1928.53 1928.76 1928.53 1928.67
11 Reserves excluding Revalution Reserve         74733.94
12 Basic and Diluted earning per share (EPS) (Rupees) 1.60 1.56 3.40 5.40 8.26
13 Aggregate of Public Shareholding          
  - Number of shares 128054848 127606093 128054848 127606093 128259273
  - Percentage of shareholding 66.39% 66.16% 66.39% 66.16% 66.5%
  - Percentage of shareholding 66.16 63.25 66.16 63.25 63.19
14 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 65278677 64829922 65278677 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% 33.84% 33.61% 33.84% 33.50%

NOTES:
  1. Limited Review of the above quarterly / nine months results has been carried out by the statutory auditors of the company.
  2. There were no investor complaints at the begining and the close of the quarter. The company had received five complaints during the quarter, which were resolved during the quarter.
  3. There were no extraordinary items during the quarter / nine months ended 31st December, '2010.
  4. The Auditors in their Report on the Accounts for the year ended 31st March,2010 and subsequent Limited Review Reports for the quarters ended 30th June,2010 and 30th September, 2010 had commented upon the basis of provision/payment against water tax demand which had been made to the extent of liability admitted by the Company for the period up to April, 2009 i.e. the period prior to new agreement effective from 27th May,2009 entered into with the Water Resource Department. No provision against the balance demand of Rs. 10334 lacs has been made since the Company’s application for waiver thereof is pending with the Government of Madhya Pradesh.
  5. 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.
  6. Figures for the Quarter / nine months ended 31st December, 2009 have been recasted to give effect of the amalgamation of Company's erstwhile wholly owned subsidiary,namely Air Conditioning Corporation Ltd, with the Company, which has became effective from the appointed date 1st April, 2009.
  7. Previous period figures have been regrouped / rearranged wherever necessary.
  8. 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 21st January, 2011.
 

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
    31-12-2010
(UnAudited)		 31-12-2008
(UnAudited)		 31-12-2010
(UnAudited)		 31-12-2009
(UnAudited)		 31.03.2010
(Audited)
1 Segment Revenue :          
a) Cement 22861.38 21276.53 69900.15 62072.98 89475.79
b) Paper & Board 8908.31 7267.34 17964.19 16078.83 23938.18
c) Electrical Consumer Durables 11893.66 8461.36 38006.21 28697.4 48084.92
  Total 43841.38 37120.96 126292.05 107175.69 161975.46
  Less : Inter Segment Revenue - - - - -
  Net Sales/Income from Operations 43841.38 37120.96 126292.05 107175.69 161975.46
2 Segment
Results :
(Profit (+)/Loss(-) before interest & Tax from each segment) :		          
  a)Cement 4664.57 4959.81 12952.01 17833.82 25390.6
  b) Paper & Board - Amlai 360.74 61.49 -2036.8 (2648.57) (-3596.11)
  - Brajrajnagar * (-116.6) (174.74) (355.99) (526.08) (716.36)
    244.14 (113.25) (2,392.79) (3174.65) (4312.47)
  c) Electrical Consumer Durables 1003.46 663.92 2638.62 3363.63 6174.52
  d) Others 23.44 7.96 50.89 30.59 26.17
  Total 5935.61 5518.44 13248.73 18053.39 27278.82
  Less :          
  (i) Interest 1072.88 1015.21 2839.75 2347.54 3453.27
  (ii) Other un-allocable expenditure net of un-allocable income 243.44 92.12 568.86 394.60 415.01
  Profit Before Tax 4619.29 4411.11 9840.12 15311.25 23410.54
3 Capital Employed :          
  a) Cement 94925.21 87093.83 94925.21 87093.83 88877.62
  b) Paper & Board 32788.45 29029.75 32788.45 29029.75 28858.71
  c) Electrical Consumer Durables 15730.61 10938.3 15730.61 10938.3 14374.96
  d) Others 106.63 198.25 106.63 198.25 134.97
  Total 143550.9 127260.13 143550.9 127260.13 132246.26

* Shown seperately since the unit is non - operational.
NEW DELHI By Order of the Board
January 21st, 2011.   for ORIENT PAPER & INDUSTRIES LTD.
M.L.PACHISIA
(Managing Director)
 
 
 
Copyright © 2007-2008 ORIENT PAPER & INDUSTRIES LTD.