ORIENT PAPER & INDUSTRIES LTD.
[Regd. Office : Unit VIII, Plot 7, Bhoinagar, Bhubaneswar - 751012 (Orissa)] |
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Audited Financial Results for the year ended 31st March, 2009 |
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Orient Paper & Industries Limited. |
Consolidated |
Sl. No. |
Particulars |
Nine months ended 31-12-2008
(Unaudited) |
Three months ended 31-03-2009 (Unaudited) |
Corresponding three months ended 31-03-2008 (Unaudited) |
Current Accounting year ended 31-03-2009 (Audited) |
Previous Accounting year ended 31-03-2008 (Audited) |
Current Accounting year ended 31.03.2009 (Audited) |
Previous Accounting year ended 31.03.2008 (Audited) |
1 |
Gross Sales/Income from Operations |
118099.71 |
50963.65 |
43584.06 |
169063.36 |
150006.01 |
169643.62 |
158580.73 |
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Less : Excise duty / Sales tax |
14478.07 |
4267.53 |
5650.81 |
18745.60 |
20387.84 |
18807.60 |
20519.16 |
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(a) Net Sales/Income from Operations |
103621.64 |
46696.12 |
37933.25 |
150317.76 |
129618.17 |
150836.02 |
138061.57 |
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(b) Other Operating Income |
347.87 |
1325.14 |
240.95 |
1673.01 |
1549.41 |
1,673.07 |
1,473.89 |
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Total Income |
103969.51 |
48021.26 |
38174.20 |
151990.77 |
131167.58 |
152509.09 |
139535.46 |
2 |
Expenditure |
78712.53 |
35976.73 |
30440.36 |
114689.26 |
98267.19 |
114972.77 |
107108.01 |
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(a) Increase (-) / decrease (+) in Stock in trade and work-in-progress |
(3,462.45) |
3664.11 |
2692.63 |
201.66 |
63.56 |
208.89 |
192.93 |
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(b) Purchase of Trading Goods |
3886.70 |
2150.52 |
1194.08 |
6037.22 |
2375.05 |
6037.22 |
2375.05 |
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(c) Consumption of raw materials |
26418.52 |
10079.78 |
9387.36 |
36498.30 |
34057.26 |
36878.18 |
36514.29 |
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(d) Consumption of Stores , Chemicals & Spares |
5342.57 |
1908.69 |
1600.67 |
7251.26 |
6605.83 |
7253.45 |
8051.98 |
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(e) Power & Fuel |
15615.94 |
5845.30 |
4748.61 |
21461.24 |
17104.64 |
21463.40 |
20337.39 |
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(f) Employees Cost |
6535.04 |
2151.11 |
1568.37 |
8686.15 |
7530.55 |
8732.56 |
8452.44 |
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(g) Packing, Freight & Forwarding Charges (Net) |
14002.01 |
4828.96 |
4286.29 |
18830.97 |
15547.91 |
18840.75 |
15548.27 |
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(h) Deferred Revenue Expenditure written off |
233.83 |
78.11 |
332.45 |
311.94 |
729.53 |
311.94 |
729.53 |
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(I) Depreciation |
2458.08 |
1013.31 |
702.82 |
3471.39 |
2707.36 |
3473.16 |
3386.42 |
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(j) Other Expenditure |
7682.29 |
4256.84 |
3927.08 |
11939.13 |
11545.50 |
11773.22 |
11519.71 |
3 |
Profit from operation before income. Interest & tax (1-2) |
25256.98 |
12044.53 |
7733.84 |
37301.51 |
32900.39 |
37536.32 |
32427.45 |
4 |
Other Income |
506.69 |
138.47 |
98.62 |
645.16 |
421.02 |
645.16 |
421.02 |
5 |
Profit before Interest & Exceptional Items & tax (3+4) |
25763.67 |
12183.00 |
7832.46 |
37946.67 |
33321.41 |
38181.48 |
32848.47 |
6 |
Interest |
1380.56 |
687.36 |
355.97 |
2067.92 |
1971.02 |
2070.39 |
2939.16 |
7 |
Profit after Interest but before Exceptional Items & tax (5-6) |
24383.11 |
11495.64 |
7476.49 |
35878.75 |
31350.39 |
36111.09 |
29909.31 |
8 |
Exceptional Items |
3,018.93 |
1846.95 |
- |
4865.88 |
- |
4,865.88 |
- |
9 |
Profit from Ordinary Activities before tax ( 7-8) |
21364.18 |
9648.69 |
7476.49 |
31012.87 |
31350.39 |
31245.21 |
29909.31 |
10 |
Tax Expenses |
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Current Tax |
7958.75 |
2487.00 |
2843.58 |
10445.75 |
10120.78 |
10445.75 |
10120.75 |
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MAT Credit Entitlement (Net) |
13.98 |
(89.96) |
(162.09) |
(75.98) |
(121.68) |
(75.98) |
(121.68) |
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Deferred Tax |
(1,282.19) |
1753.89 |
(52.76) |
471.70 |
778.15 |
471.70 |
710.00 |
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Fringe Benefit Tax |
118.36 |
43.64 |
36.50 |
162.00 |
125.00 |
162.44 |
125.43 |
11 |
Net Profit from Ordinary Activities after tax (9-10) |
14555.28 |
5454.12 |
4811.26 |
20009.40 |
20448.14 |
20241.30 |
19074.81 |
12 |
Paid-up Equity Share Capital (Face Value per share : Re.1/-) |
1927.56 |
1927.67 |
1927.15 |
1927.67 |
1927.15 |
1927.67 |
1927.15 |
13 |
Reserves excluding Revaluation Reserve |
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62318.24 |
45775.74 |
62313.47 |
43776.55 |
14 |
Basic and Diluted earning per share (EPS) (Rupees) |
7.37 |
2.83 |
2.50 |
10.36 |
11.94 |
10.48 |
11.13 |
15 |
Aggregate of Public Shareholding |
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- Number of shares |
121990815 |
121889205 |
102638760 |
121889205 |
124974930 |
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- Percentage of shareholding |
63.25 |
63.19 |
64.79 |
63.19 |
64.79 |
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16 |
Promoters and Promoter Group Share Holding |
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(a) Pledged / Encumbered |
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Number of shares |
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Nil |
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Nil |
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Percentage of shares (as % of the total shareholding of promoter and promoter group |
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Nil |
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Nil |
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Percentage of shares (as % of the total share capital of the company) |
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Nil |
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Nil |
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(b) Non- Encumbered |
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Number of shares |
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70995565 |
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70995565 |
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Percentage of shares (as % of the total shareholding of promoter and promoter group) |
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100% |
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100% |
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Percentage of shares (as % of the total share capital of the company) |
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36.81 |
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36.81 |
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*Includes Rs.78.11 lacs (Rs.78.50 lacs) and Rs.311.94 lacs ( Rs.233.83 lacs ) for the quarter and year ended respectively towards compensation under voluntary retirement scheme. |
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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 period from 30th March to 31st March 2009. |
2 |
Pursuant to the Scheme of arrangement for transfer of chemical division of GMMCO Ltd approved by Hon'ble Orissa & Kolkata High Court, the said Chemical division has been transferred to the Company with effect from the appointed date i.e. 1st October, 2008. Accordingly, the figures of the said division are incorporated. |
3 |
Merger of wholly owned subsidiary Companies viz. ACC Ltd & OPI Export Ltd. could not be completed during the year, hence the Board has decided to amalgamate the said companies w.e.f. 01-04-09 subject to necessary approvals. |
4 |
Exceptional items include - (i) write off of dues from JV Company Rs 4025.24 lacs (Net) and (ii) Rs. 840.64 lacs towards water tax for earlier years. |
5 |
The Consolidated Financial Results for 2008-09 as indicated in the above table includes results of Orient Paper & Industries Ltd., and its wholly owned subsidiaries but does not include proportionate interest in the joint venture company due to non availability of accounts due to suspension of operation of the JV Company. |
6 |
There were no investor's complaints at the beginning and close of the quarter. The company had received four complaints during the quarter, which were resolved during the quarter. |
7 |
There were no extraordinary items during the quarter / year ended 31st March,2009. |
8 |
Previous period figures have been recasted/regrouped wherever necessary. |
9 |
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 12th June, 2009. |
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Segment wise Revenue, Results and Capital Employed under Clause 41 of the Listing Agreement |
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(Rs. in Lacs) |
Sl. No. |
Particulars |
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Nine months ended 31-12-2008 (Unaudited) |
Three months ended 31-03-2009 (Unaudited) |
Corresponding three months ended 31-03-2008 (Unaudited) |
Current Accounting year ended 31-03-2009 (Audited) |
Previous Accounting year ended 31-03-2008 (Audited) |
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1 |
Segment Revenue : |
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a) Cement |
63826.35 |
23348.32 |
19318.00 |
87174.67 |
73319.50 |
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b) Paper & Board |
19898.24 |
9102.23 |
6012.36 |
29000.47 |
27420.51 |
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c) Electrical consumer durables |
19897.05 |
14245.57 |
12533.31 |
34142.62 |
28546.08 |
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d) Others |
- |
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69.58 |
- |
332.08 |
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Total |
103621.64 |
46696.12 |
37933.25 |
150317.76 |
129618.17 |
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Less : Inter Segment Revenue |
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- |
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Net Sales/Income from Operations |
103621.64 |
46696.12 |
37933.25 |
150317.76 |
129618.17 |
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2 |
Segment Results : Profit (+)/Loss(-) before interest & Tax from each segment. |
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a) Cement |
24151.74 |
10109.86 |
7758.64 |
34261.60 |
31197.68 |
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b) Paper & Board - Amlai |
1814.80 |
-699.24 |
350.65 |
1115.56 |
3598.20 |
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- Brajrajnagar * |
-594.19 |
-161.21 |
-209.37 |
-755.40 |
-924.63 |
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1220.61 |
-860.45 |
141.28 |
360.16 |
2673.57 |
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c) Electrical Consumer durables |
994.66 |
2393.88 |
1357.15 |
3388.54 |
2186.10 |
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d) Others |
- |
- |
94.16 |
- |
144.17 |
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Total |
26367.01 |
11643.29 |
9351.23 |
38010.30 |
36201.52 |
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Less : |
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(i) Interest |
1380.56 |
687.36 |
355.97 |
2067.92 |
1971.02 |
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(ii) Other un-allocable expenditure |
3622.27 |
1307.24 |
1518.77 |
4929.51 |
2880.11 |
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Profit Before Tax |
21364.18 |
9648.69 |
7476.49 |
31012.87 |
31350.39 |
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3 |
Capital Employed : |
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a) Cement |
70928.72 |
75939.61 |
38825.17 |
75939.61 |
38825.17 |
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b) Paper & Board |
25853.07 |
27889.60 |
15358.77 |
27889.60 |
15358.77 |
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c) Electrical Consumer durables |
9305.76 |
11300.03 |
8560.30 |
11300.03 |
8560.30 |
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d) Others |
552.43 |
- |
2209.72 |
- |
2209.72 |
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Total |
106639.98 |
115129.24 |
64953.96 |
115129.24 |
64953.96 |
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* Shown separately since the unit is non - operational. |