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,2011 |
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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 |
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Less : Excise duty |
14047.43 |
7555.78 |
5310.52 |
21603.21 |
14878.93 |
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(a)Net Sales/Income from Operations |
126292.05 |
69605.49 |
54799.78 |
195897.54 |
161975.46 |
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(b) Other Operating Income |
1662.06 |
1376.50 |
430.16 |
3038.56 |
987.14 |
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Total Income |
127954.11 |
70981.99 |
55229.94 |
198936.10 |
162962.60 |
2 |
Expenditure |
115823.95 |
58711.01 |
46198.95 |
174534.96 |
136740.51 |
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(a) Increase (-) / decrease (+) in Stock in trade and work-in-progress |
(5090.60) |
5488.03 |
3759.29 |
397.43 |
(2768.11) |
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(b) Purchase of Traded Goods |
5363.44 |
3705.17 |
2771.49 |
9068.61 |
8295.58 |
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(c) Consumption of raw materials |
40444.14 |
20479.75 |
14761.73 |
60923.89 |
48112.70 |
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(d) Consumption of Stores , Chemicals & Spares |
4236.07 |
1858.45 |
1453.17 |
6094.52 |
5428.33 |
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(e) Power & Fuel |
24543.41 |
8449.98 |
8156.12 |
32993.39 |
26797.03 |
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(f) Employees Cost |
8691.26 |
3222.83 |
2747.58 |
11914.09 |
10784.84 |
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(g) Packing, Freight & Forwarding Charges (Net) |
17405.30 |
8278.33 |
6048.04 |
25683.63 |
18866.26 |
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(h) Deferred Revenue Expenditure written off |
- |
- |
58.00 |
- |
232.05 |
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(I) Depreciation |
5997.96 |
2150.24 |
1881.29 |
8148.20 |
5501.36 |
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(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 |
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Current Tax |
1,966.11 |
2273.86 |
4290.33 |
4239.97 |
4780.65 |
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MAT Credit (Entitlement ) / Reversal |
(405.00) |
298.00 |
(3310.00) |
(107.00) |
(3311.24) |
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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 |
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10000.00 |
10000.00 |
12 |
Reserves excluding Revalution Reserve |
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85670.60 |
74733.94 |
13 |
Debenture Redemption Reserve (included in item 12 above) |
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4,875.00 |
4375.00 |
14 |
Erning per share (EPS) (Face value of Re.1 each)) |
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Basic |
3.40 |
4.02 |
2.84 |
7.42 |
8.26 |
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Diluted |
3.40 |
4.01 |
2.84 |
7.41 |
8.26 |
15 |
Debt Equity Ratio |
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0.34 |
0.43 |
16 |
Debt Service Coverage Ratio |
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4.22 |
6.99 |
17 |
Interest Service Coverage Ratio |
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6.97 |
7.46 |
18 |
Aggregate of Public Shareholding |
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- Number of shares |
128054848 |
128054848 |
128259273 |
128054848 |
128259273 |
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- Percentage of shareholding |
66.39% |
66.39% |
66.50% |
66.39% |
66.50% |
19 |
Promoters and Promoter Group Share Holding |
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a) |
Pledged / Encumbered |
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Number of shares |
Nil |
Nil |
Nil |
Nil |
Nil |
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Percentage of shares (as % of the total shareholding of |
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promoter and promoter group |
Nil |
Nil |
Nil |
Nil |
Nil |
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Percentage of shares (as % of the total share capital of the company) |
Nil |
Nil |
Nil |
Nil |
Nil |
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b) |
Non- Encumbered |
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Number of shares |
64829922 |
64829922 |
64625497 |
64829922 |
64625497 |
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Percentage of shares (as % of the total shareholding of |
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promoter and promoter group) |
100% |
100% |
100% |
100% |
100% |
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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. |
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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: |
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Debt Service Coverage Ratio = Earning before interest, depreciation, tax and exceptional items / [interest expenses (including interest capitalised)+ principal repayment ] |
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Interest Service Coverage Ratio = Earning before interest, depreciation , tax and exceptional items / interest expenses(including interest capitalised). |
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Debt represents long term loans / debentures. |
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Equity represents Issued, Subscribed and Paid up Share Capital and Reserves & Surplus ( excluding revaluation reserve). |
4 |
Paid up Debt Capital represents listed Debentures. |
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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. |
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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. |
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Statement of Assets and Liablities: |
Particulars |
ORIENT PAPER & INDUSTRIES LTD |
AUDITED |
As at 31st March 2011 |
As at 31st March 2010 |
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SHAREHOLDERS' FUNDS: |
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(a) Share Capital |
2028.77 |
2028.67 |
(b) Share Warrants |
1717.5 |
- |
(b) Reserves & Surplus |
86515.97 |
75640.20 |
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LOANS FUNDS |
54395.58 |
51351.73 |
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DEFERRED PAYMENT LIABILITIES |
197.04 |
273.04 |
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DEFERRED TAX LIABILITY (Net) |
13535.51 |
11027.81 |
Total |
158390.37 |
140321.45 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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(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 |
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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 : |
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a) Cement |
69900.15 |
33423.98 |
27402.81 |
103324.13 |
89475.79 |
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b) Paper & Board |
17964.19 |
9772.29 |
7859.35 |
27736.48 |
23938.18 |
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c) Electrical Consumer Durables |
38006.21 |
26220.00 |
19387.52 |
64226.21 |
48084.92 |
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d) Others |
421.50 |
189.22 |
150.10 |
610.72 |
476.57 |
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Total |
126292.05 |
69605.49 |
54799.78 |
195897.54 |
161975.46 |
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Less : Inter Segment Revenue |
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- |
- |
- |
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Net Sales/Income from Operations |
126292.05 |
69605.49 |
54799.78 |
195897.54 |
161975.46 |
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2 |
Segment Results : (Profit (+)/Loss(-) before interest 2& Tax from each segment) : |
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a) Cement |
12952.01 |
10358.67 |
7556.78 |
23310.68 |
25390.60 |
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b) Paper & Board - Amlai |
(2036.80) |
(812.84) |
(947.54) |
(2849.64) |
(3596.11) |
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- Brajrajnagar * |
(355.99) |
(124.24) |
(190.28) |
(480.23) |
(716.36) |
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(2392.79) |
(937.08) |
(1137.82) |
(3329.87) |
(4312.47) |
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c) Electrical Consumer Durables |
2638.62 |
3092.53 |
2810.89 |
5731.15 |
6174.52 |
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d) Others |
50.89 |
19.90 |
(6.23) |
70.79 |
26.17 |
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Total |
13248.73 |
12534.02 |
9223.62 |
25782.75 |
27278.82 |
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Less : |
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(i) Interest |
2839.75 |
1337.86 |
1105.73 |
4177.61 |
3453.27 |
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(ii) Other un-allocable expenditure net of un-allocable income |
568.86 |
85.16 |
18.56 |
654.02 |
415.01 |
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Profit Before Tax |
9840.12 |
11111.00 |
8099.33 |
20951.12 |
23410.54 |
3 |
Capital Employed : |
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a) Cement |
94925.21 |
93600.01 |
88877.62 |
93600.01 |
88877.62 |
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b) Paper & Board |
32788.45 |
32733.64 |
28858.71 |
32733.64 |
28858.71 |
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c) Electrical Consumer Durables |
15730.61 |
20493.06 |
14374.96 |
20493.06 |
14374.96 |
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d) Others |
106.63 |
98.99 |
134.97 |
98.99 |
134.97 |
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Total |
143550.90 |
146925.70 |
132246.26 |
146925.70 |
132246.26 |
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NEW DELHI
27th April,2011 |
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By Order of the Board for
ORIENT PAPER & INDUSTRIES LTD.
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M.L.PACHISIA
(Managing Director) |
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