Unaudited Financial Results for the quarter / half year ended 30th September,2012 |
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(Rs. in lacs ) |
Sl. |
P a r t i c u l a r s |
Quarter Ended |
Half Year Ended |
Year Ended |
No. |
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30.09.2012 |
30-06-2012 |
30.09.2011 |
30.09.2012 |
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30.09.2011 |
31.03.2012 |
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( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
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( Unaudited ) |
(Audited) |
PART - I |
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1 |
Income from Operations |
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Gross Sales/Income from Operations |
67082.27 |
73747.71 |
55547.49 |
140829.98 |
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113909.21 |
270651.26 |
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Less : Excise duty |
7241.19 |
8058.94 |
5604.89 |
15300.13 |
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11591.84 |
27314.40 |
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(a) Net Sales/Income from Operations |
59841.08 |
65688.77 |
49942.60 |
125529.85 |
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102317.37 |
243336.86 |
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(b)Other Operating Income |
963.24 |
1155.69 |
920.16 |
2118.93 |
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3080.85 |
5726.88 |
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Total Income from Operations (Net) |
60804.32 |
66844.46 |
50862.76 |
127648.78 |
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105398.22 |
249063.74 |
2 |
Expenditure |
57858.73 |
59091.62 |
47206.19 |
116950.35 |
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92344.79 |
215225.52 |
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(a) Increase (-) / decrease (+) in Stock in trade and work-in-progress |
276.61 |
(4406.21) |
(282.63) |
(4129.60) |
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(4280.56) |
(1398.72) |
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(b) Purchases of Traded Goods |
4521.10 |
3857.70 |
1927.98 |
8378.80 |
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4774.09 |
12500.41 |
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(c) Consumption of raw materials |
16701.80 |
21138.10 |
14605.73 |
37839.90 |
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32384.88 |
73946.68 |
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(d) Consumption of Stores , Chemicals & Spares |
2216.65 |
2066.57 |
1967.52 |
4283.22 |
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3345.35 |
7430.23 |
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(e) Power & Fuel |
12576.98 |
12391.11 |
9314.15 |
24968.09 |
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17814.09 |
40693.15 |
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(f) Employees benefits expenses |
4180.29 |
4130.57 |
3577.02 |
8310.86 |
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7093.24 |
14676.30 |
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(g) Packing, Freight & Forwarding Charges |
8337.47 |
9373.46 |
6966.40 |
17710.93 |
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14260.66 |
32190.99 |
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(h) Depreciation |
2182.74 |
2170.84 |
2175.99 |
4353.58 |
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4307.81 |
8840.04 |
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(i) Other Expenditure |
6865.09 |
8369.48 |
6954.03 |
15234.57 |
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12645.23 |
26346.44 |
3 |
Profit from Operations before Other Income, Finance costs & tax (1-2) |
2945.59 |
7752.84 |
3656.57 |
10698.43 |
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13053.43 |
33838.22 |
4 |
Other Income |
569.85 |
371.00 |
734.14 |
940.85 |
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1046.34 |
2229.49 |
5 |
Profit before Finance costs & tax (3+4) |
3515.44 |
8123.84 |
4390.71 |
11639.28 |
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14099.77 |
36067.71 |
6 |
Finance costs |
738.92 |
953.43 |
968.93 |
1692.35 |
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1940.90 |
4233.22 |
7 |
Profit from Ordinary Activities before tax (5-6) |
2776.52 |
7170.41 |
3421.78 |
9946.93 |
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12158.87 |
31834.49 |
8 |
Tax Expenses |
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Current Tax |
867.00 |
2253.00 |
854.21 |
3120.00 |
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3503.21 |
9555.39 |
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MAT Credit Entitlement |
- |
- |
25.59 |
- |
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25.59 |
(36.46) |
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Deferred Tax |
(9.50) |
29.41 |
135.66 |
19.91 |
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286.10 |
1087.98 |
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9 |
Net Profit from Ordinary Activities after tax (7-8) |
1919.02 |
4888.00 |
2406.32 |
6807.02 |
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8343.97 |
21227.58 |
10 |
Paid-up Equity Share Capital (Face Value per share : Re.1/-) |
2,048.79 |
2,048.79 |
1928.77 |
2,048.79 |
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1928.77 |
2048.79 |
11 |
Paid-up Debt Capital |
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10000.00 |
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10000.00 |
10000.00 |
12 |
Reserves excluding Revalution Reserve |
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109023.88 |
13 |
Debenture Redemption Reserve (included in item 12 above) |
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2500.00 |
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4875.00 |
2500.00 |
14 |
Earning per share (EPS) (Face value of Re.1/- each) |
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Basic |
0.94 |
2.39 |
1.25 |
3.32 |
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4.32 |
10.94 |
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Diluted |
0.94 |
2.39 |
1.23 |
3.32 |
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4.26 |
10.94 |
15 |
Debt Equity Ratio |
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0.13 |
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0.29 |
0.25 |
16 |
Debt Service Coverage Ratio |
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1.15 |
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4.44 |
5.57 |
17 |
Interest Service Coverage Ratio |
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6.55 |
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7.85 |
8.55 |
PART - II |
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A |
Particulars of Shareholding |
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1 |
Aggregate of Public Shareholding |
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- Number of shares |
128038838 |
128038838 |
128054848 |
128038838 |
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128054848 |
128038838 |
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- Percentage of shareholding |
62.50% |
62.50% |
66.39% |
62.50% |
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66.39% |
62.50% |
2 |
Promoters and Promoter Group Share Holding |
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a) Pledged / Encumbered |
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Number of shares |
4000000 |
7000000 |
Nil |
4000000 |
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Nil |
9500000 |
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Percentage of shares (as % of the total shareholding of promoter and promoter group) |
5.21 |
9.11% |
Nil |
5.21 |
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Nil |
12.36% |
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Percentage of shares (as % of the total share capital of the company) |
1.95 |
3.42% |
Nil |
1.95 |
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Nil |
4.64% |
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b) Non- Encumbered |
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Number of shares |
72829922 |
69829922 |
64829922 |
72829922 |
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64829922 |
67329922 |
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Percentage of shares (as % of the total shareholding of promoter and promoter group) |
100% |
90.89% |
100% |
100% |
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100% |
87.64% |
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Percentage of shares (as % of the total share capital of the company) |
35.55% |
34.08% |
33.61% |
35.55% |
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33.61% |
32.86% |
B |
Investor Complaints |
3 months ended 30-09-2012 |
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Pending at the beginning of the quarter |
Nil |
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Received during the quarter |
10 |
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Disposed of during the quarter |
10 |
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Remaining unresolved at the end of the quarter |
Nil |
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Notes :- |
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1 |
Limited Review of the above quarterly / six months results has been carried out by the statutory auditors of the company. |
2 |
Ratios have been computed as follows: |
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Debt Service Coverage Ratio = Earning before interest, depreciation and tax / [interest expenses (including interest capitalised)+ principal repayment of debt] |
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Interest Service Coverage Ratio = Earning before interest, depreciation and tax / 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 (including Share Warrants) and Reserves & Surplus ( excluding revaluation reserve). |
3 |
Paid up Debt Capital represents listed Debentures. |
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4 |
Provision against demand for Water Tax, which had been referred to by the auditors in their report on accounts for the year ended 31st March, 2012 and subsequent limited review report for the quarter ended 30th June, 2012, has been paid / provided to the extent of liability 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. 24764.83 lacs has been made since the Company's application for waiver thereof is under consideration by the Government of Madhya Pradesh. |
5 |
The Scheme of arrangement to demerge the Cement undertaking of the Company w.e.f. 1st April, 2012 by transferring the same on a going concern basis to a newly formed wholly owned subsidiary namely Orient Cement Limited, filled by the Company, has been approved by the Hon'ble Orissa High Court vide its Order dated 27th July, 2012. Certified copy of the Order has been received which has certain inaccuracies/typographical errors. Pending receipt of corrected copy of the above Order and its filing with the Registrar of Companies, upon which the demerger will become effective, no accounting adjustment thereof has been made in the above results. |
6 |
The above results include profit from discontinuing operation i.e. cement undertaking of the Company which is to be demerged w.e.f. 1st April, 2012 as stated in Note No. 5 above, the details whereof are as under : |
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(Rs. In lacs ) |
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Quarter Ended |
Half Year Ended |
Year Ended |
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30.09.2012 |
30-06-2012 |
30.09.2011 |
30.09.2012 |
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30.09.2011 |
31.03.2012 |
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1) Income from Operations |
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Gross Sales/Income from Operations |
40655.36 |
44533.88 |
33072.83 |
85189.24 |
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68948.40 |
155420.62 |
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Less : Excise duty |
5153.36 |
5569.55 |
3898.36 |
10722.91 |
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8118.63 |
18126.78 |
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(a) Net Sales/Income from operations |
35502.00 |
38964.33 |
29174.47 |
74466.33 |
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60829.77 |
137293.84 |
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(b)Other Operating Income |
91.19 |
165.52 |
58.49 |
256.71 |
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1199.71 |
2033.99 |
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Total Income from operations ( Net ) |
35593.19 |
39129.85 |
29232.96 |
74723.04 |
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62029.48 |
139327.83 |
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2) Expenditure |
29724.98 |
30024.66 |
23666.58 |
59749.64 |
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45558.40 |
101807.06 |
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(a) Increase (-) / decrease (+) in Stock in trade and work-in-progress |
65.16 |
(1189.14) |
283.80 |
(1123.98) |
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(359.09) |
108.11 |
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(b) Purchases of Traded Goods |
- |
- |
- |
- |
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- |
- |
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(c) Consumption of raw materials |
5516.68 |
5853.49 |
4277.74 |
11370.17 |
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8873.02 |
20452.34 |
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(d) Consumption of Stores , Chemicals & Spares |
1176.29 |
744.68 |
742.74 |
1920.97 |
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1270.71 |
2484.41 |
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(e) Power & Fuel |
9548.01 |
9106.82 |
6639.67 |
18654.83 |
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13104.24 |
29661.67 |
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(f) Employees benefits expense |
1139.04 |
1209.51 |
881.04 |
2348.55 |
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1796.69 |
3687.43 |
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(g) Packing, Freight & Forwarding Charges |
6989.03 |
7753.81 |
5803.04 |
14742.84 |
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11805.88 |
26598.40 |
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(h) Depreciation |
1376.61 |
1378.82 |
1421.13 |
2755.43 |
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2815.60 |
5806.06 |
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(i) Other Expenditure |
3914.16 |
5166.67 |
3617.42 |
9080.83 |
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6251.35 |
13008.64 |
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3) Profit from Operations before Other Income, Finance costs & tax (1-2) |
5868.21 |
9105.19 |
5566.38 |
14973.40 |
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16471.08 |
37520.77 |
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4) Other Income |
28.47 |
35.19 |
84.22 |
63.66 |
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131.18 |
305.21 |
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5) Profit before Finance costs & tax (3+4) |
5896.68 |
9140.38 |
5650.60 |
15037.06 |
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16602.26 |
37825.98 |
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6) Finance Costs |
476.59 |
610.29 |
431.05 |
1086.88 |
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943.04 |
1885.08 |
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7) Profit from Ordinary Activities before tax (5- 6) |
5420.09 |
8530.09 |
5219.55 |
13950.18 |
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15659.22 |
35940.90 |
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8) Tax Expenses (including deferred tax) |
1758.57 |
2767.57 |
1693.48 |
4526.14 |
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5080.63 |
12159.96 |
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9) Net Profit from Ordinary Activities after tax (7-8) |
3661.52 |
5762.52 |
3526.07 |
9424.04 |
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10578.59 |
23780.94 |
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7 |
There were no exceptional and extraordinary items during the quarter / six months ended 30th September, 2012. |
8 |
Previous period figures have been regrouped / rearranged 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 31st October, 2012. |
10 |
Statement of Assets and Liablities: |
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( Rs. In lacs ) |
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Particulars |
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As at 30th |
As at 31st |
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Sept. 2012 |
Mar. 2012 |
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( Unaudited ) |
(Audited) |
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A. EQUITY AND LIABILITIES |
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1. Shareholders’ funds |
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(a) Share capital |
2048.79 |
2048.79 |
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(b) Reserves and surplus |
116585.20 |
109808.36 |
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Sub-total-Shareholders' funds |
118633.99 |
111857.15 |
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2. Non-current liabilities |
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(a) Long-term borrowings |
14890.52 |
14890.52 |
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(b) Deferred Tax Liabilities (Net) |
14643.40 |
14623.49 |
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(c ) Other long-term liabilities |
5841.58 |
5500.18 |
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(d) Long-term provisions |
2079.81 |
1893.54 |
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Sub-total-Non-current liabilities |
37455.31 |
36907.73 |
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3. Current liabilities |
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(a) Short-term borrowings |
22870.94 |
23678.61 |
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(b) Trade payables |
20887.03 |
21973.87 |
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(c ) Other current liabilities |
13471.74 |
24218.21 |
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(d) Short-term provisions |
1979.53 |
4387.80 |
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Sub-total-Current liabilities |
59209.24 |
74258.49 |
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TOTAL - EQUITY AND LIABILITIES |
215298.54 |
223023.37 |
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A. ASSETS |
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1. Non-current assets |
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(a) Fixed assets |
142474.38 |
140538.31 |
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(b) Non-current investments |
902.18 |
901.65 |
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(c ) Long-term loans and advances |
5430.45 |
3986.86 |
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Sub-total-Non-current assets |
148807.01 |
145426.82 |
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2. Current assets |
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(a) Current investments |
205.56 |
7844.14 |
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(b) Inventories |
23603.62 |
19642.66 |
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(c ) Trade receivables |
23390.54 |
34695.05 |
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(d) Cash and bank balances |
5921.56 |
5149.19 |
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(e) Short-term loans and advances |
12835.11 |
9604.16 |
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(f) Other current assets |
535.14 |
661.35 |
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Sub-total-Current assets |
66491.53 |
77596.55 |
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TOTAL - ASSETS |
215298.54 |
223023.37 |
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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. |
P a r t i c u l a r s |
Quarter Ended |
Half Year Ended |
Year Ended |
No. |
30.09.2012 |
30-06-2012 |
30.09.2011 |
30.09.2012 |
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30.09.2011 |
31.03.2012 |
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( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
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( Unaudited ) |
(Audited) |
1 |
Segment Revenue : |
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a) Cement |
35502.00 |
38964.33 |
29174.47 |
74466.33 |
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60829.77 |
137293.84 |
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b) Paper & Board |
7784.48 |
8162.49 |
7586.13 |
15946.97 |
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12587.36 |
32861.83 |
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c) Electrical Consumer Durables |
16339.35 |
18400.42 |
12977.11 |
34739.77 |
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28531.09 |
72391.09 |
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d) Others |
215.25 |
161.53 |
204.89 |
376.78 |
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369.15 |
790.10 |
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Total |
59841.08 |
65688.77 |
49942.60 |
125529.85 |
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102317.37 |
243336.86 |
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Less : Inter Segment Revenue |
- |
- |
- |
- |
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- |
- |
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Net Sales/Income from Operations |
59841.08 |
65688.77 |
49942.60 |
125529.85 |
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102317.37 |
243336.86 |
2 |
Segment Results : (Profit (+)/Loss(-) before |
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interest & Tax from each segment) : |
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a) Cement |
5895.29 |
9132.42 |
5640.48 |
15027.71 |
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16580.07 |
37778.39 |
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b) Paper & Board - Amlai |
(2389.23) |
(1,473.24) |
(1381.71) |
(3,862.47) |
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(3542.05) |
(6110.51) |
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- Brajrajnagar * |
(108.94) |
(115.54) |
(47.54) |
(224.48) |
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(167.51) |
(316.78) |
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(2498.17) |
(1,588.78) |
(1,429.25) |
(4,086.95) |
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(3709.56) |
(6427.29) |
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c) Electrical Consumer Durables |
96.24 |
672.78 |
275.38 |
769.02 |
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1492.66 |
5298.32 |
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d) Others |
6.65 |
8.01 |
13.82 |
14.66 |
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24.22 |
48.96 |
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Total |
3500.01 |
8224.43 |
4500.43 |
11724.44 |
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14387.39 |
36698.38 |
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Less : |
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(i) Finance Costs |
738.92 |
953.43 |
968.93 |
1692.35 |
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1940.90 |
4233.22 |
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(ii) Other un-allocable expenditure |
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net of un-allocable income |
(15.43) |
100.59 |
109.72 |
85.16 |
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287.62 |
630.67 |
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Profit Before Tax |
2776.52 |
7170.41 |
3421.78 |
9946.93 |
|
12158.87 |
31834.49 |
3 |
Capital Employed : |
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a) Cement |
104566.98 |
1,02,959.89 |
100347.52 |
104566.98 |
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100347.52 |
100772.49 |
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b) Paper & Board |
45127.25 |
43,593.80 |
35009.40 |
45127.25 |
|
35009.40 |
44315.39 |
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c) Electrical Consumer Durables |
22018.69 |
22,589.23 |
18573.90 |
22018.69 |
|
18573.90 |
25681.54 |
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d) Others |
130.64 |
116.14 |
122.21 |
130.64 |
|
122.21 |
138.44 |
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Total |
171843.56 |
169259.06 |
154053.03 |
171843.56 |
|
154053.03 |
170907.86 |
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* Shown seperately since the unit is non - operational. |
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By Order of the Board |
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NEW DELHI |
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for ORIENT PAPER & INDUSTRIES LTD. |
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October 31st, 2012 |
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M.L.PACHISIA |
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(Managing Director) |
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