ORIENT PAPER & INDUSTRIES LTD.
[Regd. Office : Unit VIII, Plot 7, Bhoinagar, Bhubaneswar - 751012 (Orissa)] |
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Unaudited Financial Results for the Quarter / Half year ended 30th Sept, 2009 |
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(Rs. in Lacs) |
Sl.
No. |
Particulars |
Quarter Ended |
Half Year Ended |
Year Ended |
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|
30.09.09
(Unaudited) |
30.09.08
(Unaudited) |
30.09.09
(Unaudited) |
30.09.08
(Unaudited) |
31.03.09
(Audited) |
1 |
Gross Sales/Income from Operations |
38262.26 |
40129.59 |
75889.27 |
77092.33 |
169063.36 |
|
Less: Excise duty |
2944.41 |
4863.94 |
6045.29 |
9640.51 |
18745.60 |
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(a) Net Sales/Income from Operations |
35317.85 |
35265.65 |
69843.98 |
67451.82 |
150317.76 |
|
(b) Other Operating Income |
194.47 |
125.04 |
362.63 |
215.95 |
1636.03 |
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Total Income |
35512.32 |
35390.69 |
70206.61 |
67667.77 |
151953.79 |
2 |
Expenditure |
29296.08 |
27289.81 |
58366.75 |
51597.75 |
114652.28 |
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(a) Increase (-) / decrease (+) in Stock in trade and work-in-progress |
-2384.19 |
639.41 |
-3456.80 |
-1740.40 |
201.66 |
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(b) Purchases of Traded Goods |
2050.45 |
1302.21 |
4207.09 |
2608.75 |
6037.22 |
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(c) Consumption of raw materials |
10607.76 |
8697.95 |
21503.06 |
17511.90 |
36498.30 |
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(d) Consumption of Stores , Chemicals & Spares |
1483.52 |
2353.89 |
2565.97 |
3576.11 |
7251.26 |
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(e) Power & Fuel |
6244.66 |
4886.80 |
10643.64 |
9419.53 |
21461.25 |
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(f) Employees Cost |
2723.79 |
2196.56 |
5165.15 |
4269.82 |
8686.15 |
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(g) Packing, Freight & Forwarding Charges |
4169.97 |
4757.40 |
8358.14 |
9189.67 |
18830.97 |
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(h) Deferred Revenue Expenditure written off |
58.02 |
77.74 |
116.03 |
155.33 |
311.94 |
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(I) Depreciation |
1091.49 |
804.45 |
1984.14 |
1577.07 |
3471.39 |
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(j) Other Expenditure |
3250.61 |
2852.22 |
7280.33 |
5029.97 |
11902.14 |
3 |
Profit from Operations before Other Income, Interest, Exceptional Items & tax (1-2) |
6216.24 |
8100.88 |
11839.86 |
16070.02 |
37301.51 |
4 |
Other Income |
282.93 |
246.09 |
368.23 |
358.80 |
645.16 |
5 |
Profit before Interest, Exceptional Items & tax (3+4) |
6499.17 |
8346.97 |
12208.09 |
16428.82 |
37946.67 |
6 |
Interest |
725.25 |
391.54 |
1332.33 |
802.01 |
2067.92 |
7 |
Profit after Interest but before Exceptional Items & tax (5-6) |
5773.92 |
7955.43 |
10875.76 |
15626.81 |
35878.75 |
8 |
Exceptional items |
- |
1006.31 |
- |
2012.62 |
4865.88 |
9 |
Profit from Ordinary Activities before tax (7-8) |
5773.92 |
6949.12 |
10875.76 |
13614.19 |
31012.87 |
10 |
Tax Expenses |
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Current Tax |
(865.31) |
2677.00 |
982.69 |
5390.00 |
10445.75 |
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MAT Credit Entitlement (Net) |
- |
- |
- |
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(75.98) |
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Deferred Tax |
2613.72 # |
(275.87) |
2494.34 # |
(962.62) |
471.70 |
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Fringe Benefit Tax |
(28.00) |
32.15 |
- |
60.20 |
162.00 |
11 |
Net Profit from Ordinary Activities after tax (9-10) |
4053.51 |
4515.84 |
7398.73 |
9126.61 |
20009.40 |
12 |
Paid-up Equity Share Capital (Face Value per share : Re.1/-) |
1928.53 |
1927.56 |
1928.53 |
1927.56 |
1927.67 |
13 |
Paid-up Debt Capital |
- |
- |
10000.00 |
- |
10000.00 |
14 |
Reserves excluding Revaluation Reserve |
- |
- |
- |
- |
62318.24 |
15 |
Debenture Redemption Reserve (included in item 14 above) |
- |
- |
5,000.00 |
1,250.00 |
5000.00 |
16 |
Basic and Diluted earning per share (EPS) (Rupees) |
2.10 |
2.33
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3.83
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4.71
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10.36
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17 |
Debt Equity Ratio |
- |
- |
0.40 |
0.15 |
0.31 |
18 |
Debt Service Coverage Ratio |
- |
- |
5.87 |
14.74 |
10.22 |
19 |
Interest Service Coverage Ratio |
- |
- |
6.68 |
16.10 |
11.57 |
20 |
Aggregate of Public Shareholding |
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- Number of shares |
127595463 |
122631723 |
12759463 |
122631723 |
121889205 |
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- Percentage of shareholding |
66.15 |
63.58 |
66.15 |
63.58 |
63.19 |
21 |
Promoters and Promoter Group Share Holding |
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a) Pledged / Encumbered |
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Number of shares |
Nil |
- |
Nil |
- |
Nil |
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Percentage of shares (as % of the total shareholding of promoter and promoter group) |
Nil
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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) |
Nil |
- |
Nil |
- |
Nil |
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b) Non- Encumbered |
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Number of shares |
65289307 |
- |
65289307 |
- |
70995565 |
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Percentage of shares (as % of the total shareholding of promoter and promoter group) |
100% |
- |
100% |
- |
100% |
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Percentage of shares (as % of the total share capital of the company) |
33.85% |
- |
33.85% |
- |
36.81 |
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* Represents compensation under voluntary retirement scheme. |
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# After adjusting deferred tax credit of Rs. 101.95 lacs for earlier years. |
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Notes:- |
1 |
Limited Review of the above quarterly / six months results has been carried out by the statutory auditors of the company. |
2 |
The commercial production of clinker for extended capacity at the company's cement unit at Devapur and tissue paper in new tissue machine at Amlai unit, have been commenced during the quarter. |
3 |
There were no investor complaints at the beginning and the close of the quarter. The company had received three complaints during the quarter, which were resolved during the quarter. |
4 |
Ratios have been computed as follows:
Debt Service Coverage Ratio = Earning before interest, depreciation, tax and exceptional items / [interest expenses (including interest capitalized)+ principal repayment ]
Interest Service Coverage Ratio = Earning before interest, depreciation , tax and exceptional items / interest expenses (including interest capitalized).
Debt represents long term loans / debentures.
Equity represents Issued, Subscribed and Paid up Share Capital and Reserves & Surplus (excluding revaluation reserve). |
5 |
Paid up Debt Capital represents listed Debentures. |
6 |
There were no extraordinary items during the quarter / six months ended 30th September, '2009. |
7 |
The Board of Directors of the Company has decided to amalgamate its wholly owned Subsidiaries, namely Air Conditioning Corporation Ltd and OPI Exports Ltd with the Company with effect from 1st April'2009 subject to necessary approvals. Pending approvals of the aforesaid amalgamation, the operational results pertaining to the said subsidiaries for the period from 1st April,2009 to 30th September,2009 have not been incorporated in the above results. |
8 |
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, 2009, and subsequent Limited Review Report has been continued on the same basis since the demand is currently stayed and under reconsideration by the Government of Madhya Pradesh. |
9 |
The above financial results for the quarter / six months ended 30th September, 2009 include results relating to chemical unit , which had been transferred to the Company as per a scheme of arrangement with effect from 1st October, 2008, whereas the corresponding quarter / six months in the previous year does not include the results of the above unit. |
10 |
Previous period figures have been regrouped / rearranged wherever necessary. |
11 |
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 October, 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 |
Quarter Ended |
Half Year Ended |
Year Ended |
|
|
30.09.09
(Unaudited) |
30.09.08
(Unaudited) |
30.09.09
(Unaudited) |
30.09.08
(Unaudited) |
31.03.09
(Audited) |
1 |
Segment Revenue : |
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a) Cement |
19247.06 |
20622.19 |
40796.45 |
41780.86 |
87174.67 |
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b) Paper & Board |
6018.07 |
7968.36 |
8811.49 |
11385.16 |
29000.47 |
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c) Electrical Consumer Durables |
10052.72 |
6675.10 |
20236.04 |
14285.80 |
34142.62 |
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d) Others |
- |
- |
- |
- |
- |
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Total |
35317.85 |
35265.65 |
69843.98 |
67451.82 |
150317.76 |
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Less: Inter Segment Revenue |
- |
- |
- |
- |
- |
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Net Sales/Income from Operations |
35317.85 |
35265.65 |
69843.98 |
67451.82 |
150317.76 |
2 |
Segment Results : (Profit (+)/Loss(-) before interest & Tax from each segment): |
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a) Cement |
6062.08 |
7391.27 |
12874.01 |
15802.31 |
34261.60 |
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b) Paper & Board - Amlai |
(586.84) |
1198.66 |
(2,710.06) |
802.09 |
1115.56 |
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- Brajrajnagar * |
(175.82) |
(198.52) |
(351.34) |
(396.91) |
(755.40) |
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c) Electrical Consumer Durables |
1189.14 |
291.80 |
2699.71 |
748.47 |
3388.54 |
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d) Others |
- |
- |
- |
- |
- |
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Total |
6488.56 |
8683.21 |
12512.32 |
16955.96 |
38010.30 |
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Less: |
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(i) Interest |
725.25 |
391.54 |
1332.33 |
802.01 |
2067.92 |
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(ii) Other un-allocable expenditure net of un-allocable income |
-10.61
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1342.55
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304.23
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2539.76
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4929.51
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Profit Before Tax |
5773.92 |
6949.12 |
10875.76 |
13614.19 |
31012.87 |
3 |
Capital Employed: |
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a) Cement |
83884.09 |
57087.58 |
83884.09 |
57087.58 |
75939.61 |
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b) Paper & Board |
28493.90 |
24694.68 |
28493.90 |
24694.68 |
27889.60 |
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c) Electrical Consumer Durables |
9159.81 |
7913.51 |
9159.81 |
7913.51 |
11300.03 |
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d) Others |
- |
1104.86 |
- |
1104.86 |
- |
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Total |
121537.80 |
90800.63 |
121537.80 |
90800.63 |
115129.24 |
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* Shown separately since the unit is non - operational. |
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