UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR
THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2005 |
| |
(Rs Lakhs) |
| DESCRIPTION |
FOR THE 3 MONTHS ENDED 30TH SEPTEMBER |
FOR THE HALF YEAR ENDED 30TH SEPTEMBER |
FOR
THE YEAR ENDED 31ST MARCH |
2005
UNAUDITED |
2004
UNAUDITED |
2005
UNAUDITED |
2004
UNAUDITED |
2005
AUDITED |
| 1. |
Gross
Sales/Income from operations |
21,358.96 |
19,104.42 |
42,674.06 |
38,970.30 |
74,570.51 |
| |
Less:
Excise Duty |
2,360.02 |
2,389.93 |
4,845.92 |
4,896.64 |
9,077.75 |
| 2. |
Net
Sales/Income from operation |
18,998.94 |
16,714.49 |
37,828.14 |
34,073.66 |
65,492.76 |
| 3. |
Other
Income |
2,026.56 |
33.82 |
2,100.37 |
106.17 |
2,590.31 |
| 4. |
Total Expenditure |
| (a) |
(Increase)
/ Decrease in Stock-in-trade |
1,748.25 |
(222.56) |
840.69 |
406.06 |
(1,778.13) |
| (b) |
Consumption
of Raw
Materials |
7,414.53 |
7,912.25 |
18,514.08 |
15,760.76 |
31,516.30 |
| (c) |
Staff
Cost |
1,626.84 |
1,750.61 |
3,282.17 |
3,403.46 |
6,892.74 |
| (d) |
Purchase
of Finished
Goods for resale |
1,761.48 |
997.94 |
2,324.71 |
1,450.78 |
3,639.47 |
| (e) |
Other
Expenditure |
4,358.97 |
4,288.71 |
8,338.37 |
8,655.22 |
17,132.44 |
| 5. |
Profit
before Depreciation, Interest, and Taxation
(2+3-4) |
4,115.43 |
2,021.36 |
6,628.49 |
4,503.55 |
10,680.25 |
| 6. |
Interest
and Exchange fluctuation (Net) |
1,452.01 |
1,219.33 |
2,387.69 |
3,753.25 |
3,999.38 |
| 7. |
Depreciation/Amortisation |
437.89 |
423.33 |
902.37 |
877.39 |
1,851.28 |
| 8. |
Profit
/( Loss) before tax |
2,225.53 |
378.69 |
3,338.43 |
(127.09) |
4,829.58 |
| 9. |
Provision for taxation |
|
-Current (Including
Wealth Tax) |
33.92 |
- |
201.01 |
- |
400.00 |
|
-Deferred Tax |
(100.64) |
(98.80) |
159.16 |
(161.21) |
(201.50) |
| |
-Fringe Benefit Tax |
41.96 |
- |
98.46 |
- |
- |
| 10. |
Net
Profit / (Loss) |
2,250.29 |
477.50 |
2,879.80 |
34.12 |
4,631.09 |
| 11. |
Paid
up equity Share
Capital |
2788.95 |
2788.95 |
2,788.95 |
2,788.95 |
2,788.95 |
| |
Face Value : Rs.5/-
per share. |
| 12. |
Reserves
and Surplus at the commencement of the year (Excluding Revaluation Reserve) |
|
|
|
|
27,047.58 |
| 13. |
Earning
Per Share (Basic & Diluted) for the
Period (Rs) (not annualised) |
4.03 |
0.86 |
5.16 |
0.06 |
8.30 |
| 14. |
Aggregate of Non-Promoters Share Holding |
| |
Number
of Shares |
25800459 |
24650993 |
25800459 |
24650993 |
26351567 |
| |
Percentage
of Share
holding |
46.25 |
44.19 |
46.25 |
44.19 |
47.24 |
|
|
TOP |
|
| NOTES |
| 1. |
The Company is engaged in the business of
manufacture and sale of dry cell batteries, flashlights and packet tea which come under a
single business segment known as Fast Moving Consumer Goods (FMCG) and there is no other
business and geographical segment as envisaged under Accounting Standard 17 issued by the
Institute of Chartered Accountants of India. |
| 2. |
Interest cost and Exchange fluctuation for the half
year ended 30th September 2005 is after taking into account expense by way of net exchange
loss of Rs. 171.67 Lakhs (half year ended 30th September 2004 – loss Rs. 1718.71
Lakhs) on translation of loans in foreign currency. |
| 3. |
There were no investor complaints pending at the
beginning and at the end of the quarter. Forty-four complaints were received and disposed
of during the quarter. |
| 4. |
Pursuant to a Scheme of Arrangement between
the Company and Eveready Company India Limited (now known as McLeod Russel India Limited
– MRIL , after change of name) and their respective shareholders, which was
sanctioned by the Hon’ble High Court at Calcutta by its Order dated January 17, 2005,
the erstwhile Bulk Tea Division of the Company had been demerged and transferred to and
vested in McLeod Russell India Ltd with retrospective effect from April 01, 2004. Hence in
order to make the figures comparable, those for the quarter ended September 30, 2004 and
half year ended September 30, 2004 have been restated after giving effect to the Scheme of
Arrangement as appropriate so as to reflect the results of the demerged entity for that
period. |
| 5. |
Trial proceedings before the Chief Judicial
Magistrate, Bhopal, on the modified charges framed under the directions of the Supreme
Court that commenced in September 1997, are yet to be concluded. The Company has been
advised by legal counsel that the allegations made against it in the material on record in
the case are without any firm basis, and do not satisfy the essential ingredients of the
charges framed. The possibilities of criminal proceedings succeeding and the Company being
convicted are extremely remote and the charges are very likely to fail, and hence, no
provision is necessary at this stage. |
| 6. |
The Company has entered into Share Transfer
Agreements with BPL Limited and with BPL Engineering Limited for the acquisition of
4,90,00,000 equity shares of Rs. 10 each representing the entire paid-up share capital of
BPL Soft Energy Systems Limited (‘BSESL’) for a total consideration of Rs. 45
crores which has been paid by the company on October 7, 2005. The formalities for
registration of transfer of the shares are under completion. BSESL is engaged in the
manufacture and marketing of dry cell batteries and flashlights. Its factory at Maddur,
Karnataka has a capacity of 240 million pieces of dry cell batteries per annum. |
| 7. |
Figures of the previous periods have been
regrouped/rearranged wherever considered necessary. |
| 8. |
The above statement was taken on record by the
Board of Directors of the Company at their meeting held on October 18, 2005. |
| 9. |
The quarterly results for the period ended 30th
September 2005, as appearing in the above statement have been subjected to a Limited
Review by the Auditors of the Company. |
|
|
Kolkata
October 18, 2005 |
EVEREADY
INDUSTRIES INDIA LIMITED
Suvamoy Saha
Director |
|
|
|
