ORIENT PAPER & INDUSTRIES LTD. |
[Regd. Office : Unit VIII, Plot 7, Bhoinagar, Bhubaneswar - 751012 (Orissa)] |
|
|
|
|
|
|
|
|
|
Unaudited Financial Results for the quarter / half year ended 30th September,2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Rs. in lacs ) |
Sl. |
P a r t i c u l a r s |
Quarter Ended |
Half Year Ended |
Year Ended |
No. |
|
30.09.2013 |
30-06-2013 |
30.09.2012 |
30.09.2013 |
|
30.09.2012 |
31.03.2013 |
|
|
( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
|
( Unaudited ) |
(Audited) |
PART - I |
|
|
|
|
|
|
|
1 |
Income from Operations |
|
|
|
|
|
|
|
|
Gross Sales/Income from Operations |
31,602.86 |
33,225.88 |
26,426.91 |
64,828.74 |
|
55,640.74 |
134,681.50 |
|
Less : Excise duty |
2,209.20 |
2,546.11 |
2,087.83 |
4,755.31 |
|
4,577.22 |
11,653.45 |
|
(a) Net Sales/Income from Operations |
29,393.66 |
30,679.77 |
24,339.08 |
60,073.43 |
|
51,063.52 |
123,028.05 |
|
(b)Other Operating Income |
953.57 |
1,714.17 |
872.05 |
2,667.74 |
|
1,862.22 |
3,923.76 |
|
Total Income from Operations (Net) |
30,347.23 |
32,393.94 |
25,211.13 |
62,741.17 |
|
52,925.74 |
126,951.81 |
2 |
Expenditure |
32,957.20 |
32,835.91 |
28,133.75 |
65,793.11 |
|
57,200.71 |
131,331.68 |
|
(a) Increase (-) / decrease (+) in Stock in trade and work-in-progress |
7.56 |
(2,938.79) |
212.35 |
(2,931.23) |
|
(2,967.04) |
(914.10) |
|
(b) Purchases of Traded Goods |
5,179.10 |
4,968.01 |
4,521.10 |
10,147.11 |
|
8,378.80 |
19,599.53 |
|
(c) Consumption of raw materials |
12,987.07 |
16,053.97 |
11,185.12 |
29,041.04 |
|
26,469.73 |
59,132.95 |
|
(d) Consumption of Stores , Chemicals & Spares |
1,374.94 |
1,478.54 |
1,040.36 |
2,853.48 |
|
2,362.25 |
5,210.42 |
|
(e) Power & Fuel |
2,490.97 |
2,706.51 |
3,028.97 |
5,197.48 |
|
6,313.26 |
11,824.39 |
|
(f) Employees benefits expenses |
3,515.47 |
3,540.78 |
3,041.25 |
7,056.25 |
|
5,962.31 |
12,287.65 |
|
(g) Packing, Freight & Forwarding Charges |
1,740.78 |
1,823.79 |
1,326.53 |
3,564.57 |
|
2,932.39 |
6,650.58 |
|
(h) Depreciation |
1,182.11 |
1,124.82 |
806.13 |
2,306.93 |
|
1,598.15 |
3,671.04 |
|
(i) Other Expenditure |
4,479.20 |
4,078.28 |
2,971.94 |
8,557.48 |
|
6,150.86 |
13,869.22 |
3 |
Profit / (Loss) from Operations before Other Income, Finance costs & tax (1-2) |
(2,609.97) |
(441.97) |
(2,922.62) |
(3,051.94) |
|
(4,274.97) |
(4,379.87) |
4 |
Other Income |
1,609.39 |
1,357.24 |
541.38 |
2,966.63 |
|
877.19 |
1,766.91 |
5 |
Profit / (Loss) before Finance costs & tax (3+4) |
(1,000.58) |
915.27 |
(2,381.24) |
(85.31) |
|
(3,397.78) |
(2,612.96) |
6 |
Finance costs |
858.28 |
901.62 |
262.33 |
1,759.90 |
|
605.47 |
1,918.91 |
7 |
Profit / (Loss) from Ordinary Activities before tax (5-6) |
(1,858.86) |
13.65 |
(2,643.57) |
(1,845.21) |
|
(4,003.25) |
(4,531.87) |
8 |
Tax Expenses / (Credit) |
(899.51) |
(5.39) |
(901.07) |
(904.90) |
|
(1,386.23) |
(1,308.38) |
|
|
|
|
|
|
|
|
|
9 |
Net Profit / (Loss) from Ordinary Activities after tax (7-8) |
(959.35) |
19.04 |
(1,742.50) |
(940.31) |
|
(2,617.02) |
(3,223.49) |
10 |
Paid-up Equity Share Capital (Face Value per share : Re.1/-) |
2,048.79 |
2,048.79 |
2,048.79 |
2,048.79 |
|
2,048.79 |
2,048.79 |
11 |
Reserves excluding Revalution Reserve |
|
|
|
|
|
|
41,156.91 |
12 |
Earning per share (EPS) (Face value of Re.1/- each) |
|
|
|
|
|
|
|
|
Basic & Diluted |
(0.47) |
0.01 |
(0.85) |
(0.46) |
|
(1.28) |
(1.57) |
PART - II |
|
|
|
|
|
|
|
A |
Particulars of Shareholding |
|
|
|
|
|
|
|
1 |
Aggregate of Public Shareholding |
|
|
|
|
|
|
|
|
- Number of shares |
126538838 |
127234536 |
128038838 |
126538838 |
|
128038838 |
128038838 |
|
- Percentage of shareholding |
61.77% |
62.11% |
62.50% |
61.77% |
|
62.50% |
62.50% |
2 |
Promoters and Promoter Group Share Holding |
|
|
|
|
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
|
|
|
|
Number of shares |
1422000 |
1422000 |
4000000.00 |
1422000 |
|
4000000.00 |
1422000 |
|
Percentage of shares (as % of the total shareholding of promoter and promoter group) |
1.82% |
1.83% |
5.21% |
1.82% |
|
5.21% |
1.85% |
|
Percentage of shares (as % of the total share capital of the company) |
0.69% |
0.69% |
1.95% |
0.69% |
|
1.95% |
0.69% |
|
|
|
|
|
|
|
|
|
|
b) Non- Encumbered |
|
|
|
|
|
|
|
|
Number of shares |
76907922 |
76212224 |
72829922 |
76907922 |
|
72829922 |
75407922 |
|
Percentage of shares (as % of the total shareholding of promoter and promoter group) |
98.18% |
98.17% |
100% |
98.18% |
|
100% |
98.15% |
|
|
|
37% |
|
|
|
|
37% |
|
Percentage of shares (as % of the total share capital of the company) |
37.54% |
37.20% |
35.55% |
37.54% |
|
35.55% |
36.81% |
B |
Investor Complaints |
3 months ended 30-09-2013 |
|
|
|
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
|
|
|
|
Received during the quarter |
5 |
|
|
|
|
|
|
Disposed of during the quarter |
5 |
|
|
|
|
|
|
Remaining unresolved at the end of the quarter |
Nil |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes :- |
|
|
|
|
|
|
|
1 |
Limited Review of the above quarterly results has been carried out by the statutory auditors of the company. |
2 |
The figures for the corresponding quarter / half year ended 30th September, 2012 have been recasted to give effect of the Scheme of arrangment approved by Hon'ble High Court of Orissa for demerger of Cement undertaking of the Company w.e.f., 01.04.2012 |
3 |
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, 2013 and subsequent limited review report for the quarter ended 30th June 2013, 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. 31,725.90 lacs (including compounded interest & penalty) has been made since the Company's application for waiver thereof is under consideration by the Government of Madhya Pradesh. |
4 |
Tax expenses include deferred tax and MAT Credit Entitlement / Reversal. |
|
|
5 |
There were no exceptional and extraordinary items during the quarter / six months ended 30th September, 2013. |
6 |
Previous period figures have been regrouped / rearranged wherever necessary. |
7 |
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 30th October, 2013. |
8 |
Statement of Assets and Liablities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
( Rs. In lacs ) |
|
|
|
|
|
|
Particulars |
|
|
|
|
|
|
|
|
As at 30th |
As at 31st |
|
|
|
|
|
|
Sept. 2013 |
March. 2013 |
|
|
|
|
( Unaudited ) |
(Audited) |
|
|
|
|
|
|
A. EQUITY AND LIABILITIES |
|
|
|
|
|
|
|
|
1. Shareholders? funds |
|
|
|
|
|
|
|
|
(a) Share capital |
2,048.79 |
2,048.79 |
|
|
|
|
|
|
(b) Reserves and surplus |
|
41,797.55 |
|
|
|
|
|
|
Sub-total-Shareholders' funds |
42,190.65 |
43,846.34 |
|
|
|
|
|
|
2. Non-current liabilities |
|
|
|
|
|
|
|
|
(a) Long-term borrowings |
- |
- |
|
|
|
|
|
|
(b) Deferred Tax Liabilities (Net) |
70.47 |
793.32 |
|
|
|
|
|
|
(c ) Other long-term liabilities |
3,289.33 |
3,278.88 |
|
|
|
|
|
|
(d) Long-term provisions |
2,031.53 |
1,873.12 |
|
|
|
|
|
|
Sub-total-Non-current liabilities |
5,391.33 |
5,945.32 |
|
|
|
|
|
|
3. Current liabilities |
|
|
|
|
|
|
|
|
(a) Short-term borrowings |
29,643.29 |
30,528.84 |
|
|
|
|
|
|
(b) Trade payables |
15,299.10 |
21,428.81 |
|
|
|
|
|
|
(c ) Other current liabilities |
6,566.26 |
7,145.47 |
|
|
|
|
|
|
(d) Short-term provisions |
1,587.43 |
1,714.95 |
|
|
|
|
|
|
Sub-total-Current liabilities |
53,096.08 |
60,818.07 |
|
|
|
|
|
|
TOTAL - EQUITY AND LIABILITIES |
100,678.06 |
110,609.73 |
|
|
|
|
|
|
A. ASSETS |
|
|
|
|
|
|
|
|
1. Non-current assets |
|
|
|
|
|
|
|
|
(a) Fixed assets |
53,579.68 |
55,317.34 |
|
|
|
|
|
|
(b) Non-current investments |
894.42 |
897.44 |
|
|
|
|
|
|
(c ) Long-term loans and advances |
1,984.47 |
1,583.47 |
|
|
|
|
|
|
Sub-total-Non-current assets |
56,458.57 |
57,798.25 |
|
|
|
|
|
|
2. Current assets |
|
|
|
|
|
|
|
|
(a) Current investments |
- |
- |
|
|
|
|
|
|
(b) Inventories |
16,808.91 |
13,321.78 |
|
|
|
|
|
|
(c ) Trade receivables |
19,909.58 |
32,902.42 |
|
|
|
|
|
|
(d) Cash and bank balances |
2,468.61 |
1,806.15 |
|
|
|
|
|
|
(e) Short-term loans and advances |
4,339.81 |
4,126.84 |
|
|
|
|
|
|
(f) Other current assets |
692.58 |
654.29 |
|
|
|
|
|
|
Sub-total-Current assets |
44,219.49 |
52,811.48 |
|
|
|
|
|
|
TOTAL - ASSETS |
100,678.06 |
110,609.73 |
|
|
|
|
|
|
After adjusting Rs.695.05 lacs towards adjustments for deferred tax assets in respect of Cement undertaking pertaining to the period prior to appointed date i.e. 1st April, 2012 for demerger of cement undertaking of the Company. |
|
|
|
|
|
|
|
|
|
Segment wise Revenue, Results and Capital Employed under Clause 41 of the Listing Agreement |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Rs. In lacs ) |
Sl. |
P a r t i c u l a r s |
Quarter Ended |
Half Year Ended |
Year Ended |
No. |
30.09.2013 |
30-06-2013 |
30.09.2012 |
30.09.2013 |
|
30.09.2012 |
31.03.2013 |
|
|
( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
( Unaudited ) |
|
( Unaudited ) |
(Audited) |
1 |
Segment Revenue : |
|
|
|
|
|
|
|
|
a) Paper & Board |
10,030.86 |
9,788.47 |
7,784.48 |
19,819.33 |
|
15,946.97 |
34,217.79 |
|
b) Electrical Consumer Durables |
19,121.82 |
20,685.06 |
16,339.35 |
39,806.88 |
|
34,739.77 |
87,966.05 |
|
c) Others |
240.98 |
206.24 |
215.25 |
447.22 |
|
376.78 |
844.21 |
|
Total |
29,393.66 |
30,679.77 |
24,339.08 |
60,073.43 |
|
51,063.52 |
123,028.05 |
|
Less : Inter Segment Revenue |
- |
- |
- |
- |
|
- |
- |
|
Net Sales/Income from Operations |
29,393.66 |
30,679.77 |
24,339.08 |
60,073.43 |
|
51,063.52 |
123,028.05 |
2 |
Segment Results : (Profit (+)/Loss(-) before |
|
|
|
|
|
|
|
|
interest & Tax from each segment) : |
|
|
|
|
|
|
|
|
a) Paper & Board - Amlai |
(731.74) |
394.35 |
(2,401.66) |
(337.39) |
|
(3,887.26) |
(7,409.58) |
|
- Brajrajnagar * |
(102.11) |
(101.78) |
(108.94) |
(203.89) |
|
(224.48) |
(438.94) |
|
|
(833.85) |
292.57 |
(2,510.60) |
(541.28) |
|
(4,111.74) |
(7,848.52) |
|
b) Electrical Consumer Durables |
23.60 |
1,015.16 |
96.24 |
1,038.76 |
|
769.02 |
5,786.02 |
|
c) Others |
11.83 |
8.18 |
6.65 |
20.01 |
|
14.66 |
59.26 |
|
Total |
(798.42) |
1,315.91 |
(2,407.71) |
517.49 |
|
(3,328.06) |
(2,003.24) |
|
Less : |
|
|
|
|
|
|
|
|
(i) Finance Costs |
858.28 |
901.62 |
262.33 |
1,759.90 |
|
605.47 |
1,918.91 |
|
(ii) Other un-allocable expenditure |
|
|
|
|
|
|
|
|
net of un-allocable income |
202.16 |
400.64 |
(26.47) |
602.80 |
|
69.72 |
609.72 |
|
Profit Before Tax |
(1,858.86) |
13.65 |
(2,643.57) |
(1,845.21) |
|
(4,003.25) |
(4,531.87) |
3 |
Capital Employed : |
|
|
|
|
|
|
|
|
a) Paper & Board |
43,686.98 |
45,302.60 |
45,127.25 |
43,686.98 |
|
45,127.25 |
45,371.07 |
|
b) Electrical Consumer Durables |
29,881.94 |
30,760.18 |
22,018.69 |
29,881.94 |
|
22,018.69 |
31,215.70 |
|
c) Others |
123.02 |
146.12 |
130.64 |
123.02 |
|
130.64 |
158.25 |
|
Total |
73,691.94 |
76,208.90 |
67,276.58 |
73,691.94 |
|
67,276.58 |
76,745.02 |
|
* Shown seperately since the unit is non - operational. |
|
|
|
|
|
|
|
|
|
|
|
|
|
By Order of the Board |
|
NEW DELHI |
|
|
|
for ORIENT PAPER & INDUSTRIES LTD. |
|
October 30th, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
M.L.PACHISIA |
|
|
|
|
|
|
|
(Managing Director) |
|
|
|
|
|
|
|
|
|
|