|
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE
QUARTER & 9 MONTHS ENDED ON 31/12/2012 |
|
|
|
|
|
|
|
(Rs.in lacs) |
PARTICULARS |
3 months
ended 31.12.2012
|
Preceding 3 months
ended 30.09.2012
|
Corresponding 3 months
ended 31.12.2011 in the previous year
|
Year to date figures for current period ended 31.12.2012
|
Year to date figures for previous period ended 31.12.2011
|
Previous year ended 31.03.2012 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
1 |
Income from operations |
|
|
|
|
|
|
|
(a) Net Sales/Income from operations(net of excise duty) |
817,516.17 |
540,341.32 |
695,428.57 |
1,858,101.41 |
1,893,242.58 |
2,599,106.63 |
|
(b) Other Operating Income |
(394.56) |
2,381.37 |
2,024.43 |
2,534.03 |
2,947.22 |
538.63 |
|
Total Income from operations(net) |
817,121.61 |
542,722.69 |
697,453.00 |
1,860,635.44 |
1,896,189.80 |
2,599,645.26 |
2 |
Expenses |
|
|
|
|
|
|
|
(a) Cost of materials consumed |
507,702.41 |
363,631.69 |
392,867.66 |
1,196,039.22 |
999,852.23 |
1,403,499.46 |
|
(b) Purchases of stock-in-trade |
282,949.37 |
78,643.18 |
260,062.85 |
477,170.10 |
722,449.63 |
982,789.10 |
|
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(39,559.69) |
60,884.04 |
(32,496.43) |
17,769.01 |
(3,865.20) |
(61,214.93) |
|
(d) Employee benefits expenses |
4,310.02 |
3,101.41 |
2,707.48 |
10,561.62 |
8,395.06 |
11,025.61 |
|
(e) Depreciation and amortisation expenses |
3,955.41 |
3,427.48 |
3,741.93 |
10,845.86 |
10,300.28 |
14,077.65 |
|
(f) Other Expenses |
42,746.99 |
27,250.40 |
49,899.27 |
118,897.11 |
119,506.28 |
197,235.27 |
|
Total Expenses |
802,104.51 |
536,938.20 |
676,782.76 |
1,831,282.92 |
1,856,638.28 |
2,547,412.16 |
3 |
Profit /(loss) from Operations before other income,finance costs and exceptional items (1-2) |
15,017.10 |
5,784.49 |
20,670.24 |
29,352.52 |
39,551.52 |
52,233.10 |
4 |
Other Income |
8,464.86 |
8,316.12 |
6,890.25 |
23,554.82 |
16,003.45 |
22,725.65 |
5 |
Profit/(Loss) from ordinary activities before finance costs and exceptional items (3±4) |
23,481.96 |
14,100.61 |
27,560.49 |
52,907.34 |
55,554.97 |
74,958.75 |
6 |
Finance costs |
17,084.32 |
4,555.05 |
23,805.87 |
30,601.78 |
40,651.92 |
52,126.19 |
7 |
Profit/(Loss) from ordinary activities after finance costs but before Exceptional Items (5±6) |
6,397.64 |
9,545.56 |
3,754.62 |
22,305.56 |
14,903.05 |
22,832.56 |
8 |
Exceptional Items |
- |
- |
- |
- |
- |
- |
9 |
Profit/(Loss) from Ordinary Activities before tax (7±8) |
6,397.64 |
9,545.56 |
3,754.62 |
22,305.56 |
14,903.05 |
22,832.56 |
10 |
Tax Expenses |
1,456.63 |
2,979.88 |
1,349.99 |
6,538.02 |
5,504.46 |
10,601.09 |
11 |
Net Profit/(Loss) from Ordinary activities after tax (9±10) |
4,941.01 |
6,565.68 |
2,404.63 |
15,767.54 |
9,398.59 |
12,231.47 |
12 |
Extraordinary items (net of tax expenses Rs. Nil) |
- |
- |
- |
- |
- |
- |
13 |
Net Profit/(Loss) for the period (11±12) |
4,941.01 |
6,565.68 |
2,404.63 |
15,767.54 |
9,398.59 |
12,231.47 |
14 |
Share of Profit/(loss) of associates |
- |
- |
- |
- |
- |
- |
15 |
Minority Interest |
- |
- |
- |
- |
- |
- |
16 |
Net Profit/(Loss) after taxes, monority interest and share of profit / (loss) of associates (13±14±15) |
4,941.01 |
6,565.68 |
2,404.63 |
15,767.54 |
9,398.59 |
12,231.47 |
17 |
Paid-up - Equity Share Capital(Face value Rs.2/- per share) |
6,678.45 |
6,668.79 |
6,667.17 |
6,678.45 |
6,667.17 |
6,667.17 |
|
Preference Share Capital (Face value Rs.100/- per share) |
200.00 |
200.00 |
200.00 |
200.00 |
200.00 |
200.00 |
18 |
Reserve excluding Revaluation Reserve as per balance sheet of previous accounting year |
- |
- |
- |
- |
- |
172,187.04 |
19.i. |
Earning per share (before extraordinary items) (of Rs.2/- each) (not annualised) (in Rs. Per share) |
|
|
|
|
|
|
|
a) Basic |
1.48 |
1.97 |
0.72 |
4.73 |
2.82 |
3.67 |
|
b) Diluted |
1.48 |
1.97 |
0.72 |
4.72 |
2.82 |
3.66 |
19.ii |
Earning per share (after extraordinary items) (of Rs.2/- each) (not annualised) (in Rs. Per share) |
|
|
|
|
|
|
|
a) Basic |
1.48 |
1.97 |
0.72 |
4.73 |
2.82 |
3.67 |
|
b) Diluted |
1.48 |
1.97 |
0.72 |
4.72 |
2.82 |
3.66 |
|
See accompanying note to the financial results |
|
|
|
|
|
|
Part II |
|
|
|
|
|
|
Select Information for the Quarter and 9 Months ended 31/12/2012 |
PARTICULARS |
3 months
ended 31.12.2012
|
Preceding 3 months
ended 30.09.2012
|
Corresponding 3 months
ended 31.12.2011 in the previous year
|
Year to date figures for current period ended 31.12.2012
|
Year to date figures for previous period ended 31.12.2011
|
Previous year ended 31.03.2012 |
A. PARTICULARS OF SHARE HOLDING |
|
|
|
1 |
Public shareholding |
|
|
|
|
|
|
|
No. of shares |
151,898,726 |
153,672,942 |
156,853,526 |
151,898,726 |
156,853,526 |
154,020,318 |
|
Percentage of Shareholding |
45.49 |
46.09 |
47.05 |
45.49 |
47.05 |
46.20 |
2 |
Promoters and Promoters Group Shareholding |
|
|
|
|
|
|
|
a) Pledged/Encumbered - Number of shares |
2,278,640 |
3,751,665 |
6,278,190 |
2,278,640 |
6,278,190 |
7,801,665 |
|
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
1.25 |
2.09 |
3.56 |
1.25 |
3.56 |
4.35 |
|
- Percentage of shares(as a % of the total share capital of the Company) |
0.68 |
1.12 |
1.88 |
0.68 |
1.88 |
2.34 |
|
b) Non-encumbered |
|
|
|
|
|
|
|
- Number of shares |
179,745,206 |
176,015,015 |
170,226,856 |
179,745,206 |
170,226,856 |
171,536,589 |
|
- Percentage of shares(as a % of the total shareholding of promoter and promoter group) |
98.75 |
97.91 |
96.44 |
98.75 |
96.44 |
95.65 |
|
- Percentage of shares(as a % of the total share capital of the Company) |
53.83 |
52.79 |
51.07 |
53.83 |
51.07 |
51.46 |
|
Particulars |
3 months
ended 31.12.2012
|
|
|
|
|
|
B. |
INVESTOR COMPLAINTS |
|
|
|
|
|
|
|
Pending at the beginning of the quarter |
- |
|
|
|
|
|
|
Received during the quarter |
11 |
|
|
|
|
|
|
Disposed of during the quarter |
10 |
|
|
|
|
|
|
Remaining unresolved at the end of the quarter |
1 |
|
|
|
|
|
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED |
(Rs.in lacs) |
|
PARTICULARS |
3 months
ended 31.12.2012
|
Preceding 3 months
ended 30.09.2012
|
Corresponding 3 months
ended 31.12.2011 in the previous year
|
Year to date figures for current period ended 31.12.2012
|
Year to date figures for previous period ended 31.12.2011
|
Previous year ended 31.03.2012 |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
1 |
Segment Revenue |
|
|
|
|
|
|
|
Oils |
592,871.11 |
366,106.25 |
533,492.68 |
1,296,244.33 |
1,533,792.67 |
1,864,454.60 |
|
Vanaspati |
20,821.10 |
22,482.17 |
22,735.65 |
62,849.70 |
76,445.11 |
95,302.88 |
|
Seed Extraction |
266,310.95 |
173,919.15 |
235,946.08 |
615,746.47 |
482,075.89 |
828,429.39 |
|
Food Products |
9,000.02 |
11,050.76 |
7,059.25 |
31,901.85 |
23,784.36 |
31,010.82 |
|
Wind Turbine Power Generation |
1,061.98 |
2,441.76 |
660.04 |
5,555.17 |
3,500.47 |
5,676.07 |
|
Others |
35,245.22 |
28,053.45 |
12,446.93 |
89,247.21 |
29,508.30 |
112,870.87 |
|
Unallocated |
|
|
|
|
|
|
|
Total Segment Revenue |
925,310.38 |
604,053.54 |
812,340.63 |
2,101,544.73 |
2,149,106.80 |
2,937,744.63 |
|
Less : Inter segment Revenue |
107,794.21 |
63,712.22 |
116,912.06 |
243,443.32 |
255,864.22 |
338,638.00 |
|
Net Sales/Income from operations |
817,516.17 |
540,341.32 |
695,428.57 |
1,858,101.41 |
1,893,242.58 |
2,599,106.63 |
2 |
Segment Results (Profit/(loss) before tax and interest from each segment) |
|
|
|
Oils |
5,164.47 |
3,239.03 |
16,107.67 |
10,953.05 |
25,982.11 |
14,986.48 |
|
Vanaspati |
908.92 |
253.57 |
229.55 |
1,428.05 |
998.51 |
1,134.36 |
|
Seed Extraction |
12,548.65 |
1,283.22 |
3,575.24 |
17,457.13 |
8,869.81 |
30,750.60 |
|
Food Products |
568.54 |
346.87 |
196.21 |
1,344.66 |
716.85 |
1,360.33 |
|
Wind Turbine Power Generation |
169.43 |
1,632.92 |
62.02 |
3,084.89 |
1,527.49 |
2,816.75 |
|
Others |
(4,192.82) |
(854.90) |
617.66 |
(4,546.05) |
1,765.83 |
2,194.98 |
|
Unallocated |
- |
- |
- |
|
- |
- |
|
Total |
15,167.19 |
5,900.71 |
20,788.35 |
29,721.73 |
39,860.60 |
53,243.50 |
|
Less: (i) Finance costs |
17,084.32 |
4,555.05 |
23,805.87 |
30,601.78 |
40,651.92 |
52,126.19 |
|
(ii) Interest Income |
(8,273.96) |
(8,199.90) |
(6,712.13) |
(23,144.80) |
(15,634.36) |
(21,655.24) |
|
(iii) Other unallocable expenditure net off un-allocable income |
(40.81) |
- |
(60.01) |
(40.81) |
(60.01) |
(60.01) |
|
Total Profit before tax |
6,397.64 |
9,545.56 |
3,754.62 |
22,305.56 |
14,903.05 |
22,832.56 |
3 |
Capital Employed (Segment Assets less Segment Liabilities) |
|
|
|
Oils |
141,366.12 |
164,902.45 |
247,517.45 |
141,366.12 |
247,517.45 |
127,173.00 |
|
Vanaspati |
28,036.07 |
26,918.22 |
25,332.93 |
28,036.07 |
25,332.93 |
56,355.18 |
|
Seed Extraction |
131,129.63 |
30,352.18 |
90,046.77 |
131,129.63 |
90,046.77 |
137,428.16 |
|
Food Products |
14,725.97 |
12,844.48 |
8,258.81 |
14,725.97 |
8,258.81 |
13,345.45 |
|
Wind Turbine Power Generation |
47,331.25 |
48,082.21 |
48,322.29 |
47,331.25 |
48,322.29 |
45,336.84 |
|
Others |
52,362.17 |
48,419.98 |
1,687.99 |
52,362.17 |
1,687.99 |
71,969.74 |
|
Unallocated |
- |
- |
- |
- |
- |
- |
|
T O T A L |
414,951.21 |
331,519.52 |
421,166.24 |
414,951.21 |
421,166.24 |
451,608.37 |
Notes : |
1. The above results have been reviewed by the Audit Committee and have been approved by the Board of Directors of the Company at the meeting held on February 14, 2013. The Statutory Auditors have carried out a limited review of the above results. |
2. The Compensation Committee of the Board of Directors, at its meeting held on 20th October, 2012 has allotted 4,82,950 equity shares of Rs.2/- each on exercise of 4,82,950 options by the eligible employees in accordance with the Employee Stock Option Scheme – 2007 of the Company, as amended from time to time.
The Employee Stock Options outstanding as on 31st December, 2012 are as follows :
|
Date of Grant |
Opening Balance as
in October 1, 2012 |
Issued
during the quarter |
Exercised
during the quarter |
Cancelled
during the quarter * |
Closing
Balance as on
December
31, 2012 |
April 1st 2008 |
82,100 |
- |
6,000 |
76,100 |
- |
October 1st 2009 |
563,850 |
- |
476,950 |
- |
86,900 |
April 1st 2010 |
141,050 |
- |
- |
- |
141,050 |
April 1st 2011 |
157,400 |
- |
- |
- |
157,400 |
April 1st 2012 |
15,000 |
- |
- |
- |
15,000 |
Total |
959,400 |
- |
482,950 |
76,100 |
400,350 |
Note-* The cancellation is subject to approval at the ensuing meeting of the compensation committee. |
3. Pursuant to notification dated 29th December 2011 issued by the Ministry of Corporate Affairs, with effect from 1st April 2011, the Company has exercised the option available under the said Clause.Accordingly, the exchange difference arising on reporting of long term foreign currency monetary items, in so far as they relate to acquisition of depreciable fixed assets, have been adjusted to the cost of theassets amounting to Rs. 3,473.90 lacs (Rs. 2,048.83 lacs for the quarter under review) and in other cases, the same has been accumulated in 'Foreign Currency Monetary Item Translation Difference Account' and will be amortised over the balance period of liability/ asset. The said asset remaining unamortised as at the end of the quarter is Rs. 725.40 lacs.(During the quarter Rs. 853.09 lacs) and amortised for nine months ended on 31st December 2012 Rs. 284.34 lacs (including Rs. -210.32 for the quarter under review). |
4. Pursuant to the Scheme of Amalgamation and Arrangement between the Company and Mac Oil Palm Limited, the Board has approved the following amounts as charge to Business Development Reserve |
during the quarter ended on December 31, 2012 : |
|
|
|
|
Particulars |
|
Amount (Rs.in lacs)
3 months ended December
31, 2012 |
Additional depreciation/impairment/amortization on
account of revaluation |
|
456.95 |
Advertisement Expenses for Business Development
(net of current tax) |
|
265.47 |
Additional loss on sale of Revalued Assets |
|
0.08 |
|
Total |
-------------
722.50
------------- |
5. With effect from 1 April 2011, the Company has adopted the principles of derivatives and hedge accounting of Accounting Standard (AS) 30 “Financial Instruments: Recognition and Measurement”, to account for interest rate swaps. Accordingly, mark to market losses/(gain) of Rs.1,989.06 lacs (Including gain of Rs. 196.70 lacs for the 3 month under review) on account of interest rate swaps designated as effective hedge has been recognized in the balance sheet under the head “Hedge Reserve”. |
6. Tax expenses comprises current tax Rs.5,784 lacs, Deferred tax Rs.371 lacs and taxation for earlier year Rs.383.01 lacs. |
7. The results of subsidiary companies, associates, Trust and Joint Venture will be Consolidated with the year end results. |
8. The financial statements have been prepared as per the Revised Schedule VI to the Companies Act. 1956 which had a significant impact on presentation. Corresponding figures for the previous period have been regrouped/ reclassified to make them comparable with those of current period. |
|
|
Place : Mumbai
Date : 14th February, 2013 |
|
For AND ON BEHALF OF THE
BOARD OF DIRECTORS |
|
Sd/- |
|
MANAGING DIRECTOR |
|
|
|
|
|
|
|
|