AUDITED FINANCIAL RESULTS 31ST MARCH 2003
13 Maio 2003 - 4:30AM
UK Regulatory
E.I.D.- PARRY (INDIA) LIMITED
Registered Office: `Dare House' Parry's Corner, Chennai - 600 001.
Audited Financial Results for the year ended March 31, 2003
Rs.in Crores
Stand-alone Company Consolidated
Accounts
Un-audited Audited Audited
Quarter ended Year ended Year
9 Months ended
ended
Dec. March March March March March
31, 31, 31, 31, 31, 31,
2002 2003 2002 2003 2002 2003
1. Net Sales
/Income from
Operations-
Gross of Excise
Duty 1040.21 304.31 341.92 1344.52 1506.56 1591.50
Excise Duty (43.14) (11.46) (10.32) (54.60) (57.51) (59.03)
Net
sales/Income
from Operations
- Net of Excise
Duty 997.07 292.85 331.60 1289.92 1449.05 1532.47
2. Other Income 25.47 6.37 7.06 31.84 20.57 43.56
Total Income 1022.54 299.22 338.66 1321.76 1469.62 1576.03
3. Total
Expenditure :
a) (Accretion)/
Decretion to
Stock 55.58 (59.66) (30.03) (4.08) 53.78 (23.19)
b) Consumption
of Raw
Materials 340.45 139.73 141.82 480.18 495.80 822.82
c) Purchase of
Goods for
resale 316.12 110.64 97.04 426.76 457.11 110.96
d) Staff cost 51.80 15.83 15.71 67.63 62.72 103.75
e) Other
Expenditure 175.93 60.47 70.13 236.40 245.08 371.82
939.88 267.01 294.67 1206.89 1314.49 1386.16
4. Gross Profit 82.66 32.21 43.99 114.87 155.13 189.87
5. Interest
(Net) 26.76 6.06 9.18 32.82 52.78 47.65
6.
Depreciation 33.76 11.26 11.19 45.02 43.69 61.89
7. Profit
before Taxation 22.14 14.89 23.62 37.03 58.66 80.33
8. Provision
for Taxation
Current Tax 1.80 1.20 1.50 3.00 3.90 19.21
Deferred Tax 8.25 (1.05) 9.93 7.20 19.93 13.16
9. Net Profit
after Taxation
(PAT) before
Minority
interest and
share of
Profit/(Loss)
from Associate
Companies 12.09 14.74 12.19 26.83 34.83 47.96
10. Share of
Profit/(Loss)
from Associate
Companies (0.28)
11. Minority
Interest 6.06
12. Net Profit
after Taxation
(PAT) after
Minority
interest and
share of
Profit/(Loss)
from Associate
Companies 41.62
13. Paid up
Equity Share
Capital
(Face
value - Rs.10
per Equity
Share) 17.84 17.84 17.84 17.84 17.84 17.84
14. Reserves
excluding
Revaluation
Reserve 370.95 356.20 458.56
15. Earnings
per Share (EPS)
- Basic and
Diluted (Not
annualised)(Rs.
per Equity
Share) 6.77 8.26 6.83 15.03 19.48 23.32
16. Aggregate
of Non-promoter
Shareholding
Number of
Shares 10580103 10638379 10580103
% of
Shareholding 59.3 59.6 59.3
1. The above Audited Financial results for the year ended March 31,
2003 for the company and the Consolidated Financial Results of the
Company prepared as per the Accounting Standards AS-21, AS-23 & AS-27
with its Subsidiaries/Associates/Joint Ventures were approved by the
Board of Directors at their meeting held on May 12, 2003.
2. Government of India has announced a revised policy on adhoc
concession to complex Fertilisers retrospectively effective from April
01,2002. This has the effect of adversely impacting profits by Rs.14.73
crores for the year ended March 31,2003 and has been fully provided for.
3. Details of dividend payable for the year on Equity
Shares of Rs.10 each
Per Share %
Proposed Dividend 6 60
4.a. During the year ended March 31, 2003, the company has incurred
Rs.3.82 crores towards Employees' Voluntary Retirement/Separation
Schemes. In line with the Income Tax Law, this will be amortised over a
period of five years as against the past practice of absorbing the cost
in the year of payment. Had the past practice been followed, the profit
for the year would have been lower by Rs.3.06 crores.
b. Staff cost for the year ended March 31, 2003 includes amount
charged-off against Employees' Voluntary Retirement/Separation scheme
payments amounting to Rs.0.76 Crore.
5. The Board of Directors approved a restructuring proposal of
demerging its fetilisers and pesticides division into its subsidiary,
Coromandel Fertilisers Limited and amalgamating wholly owned
subsidiaries Parry & Company Limited and The Mofussil Warehouse and
Trading Company Limited, with EID Parry (India) Limited with effect from
1st April 2003.
6. Previous year figures have been regrouped wherever necessary.
On behalf of the Board
Chennai M.V. Subbiah
May 12, 2003 Executive Chairman
E.I.D.PARRY (INDIA ) LIMITED
Segment Reporting under Clause 41 of the Listing Agreement with
Stock Exchange for the Year ended 31st March, 2003
Quarter Year ended
ended
Mar Mar Mar Mar
31,2003 31,2002 31,2003 31,2002
Rs.Crores Rs.CroresRs.Crores Rs.Crores
1.Segment
Revenue
( Net Sales/Income
from each Segment Gross
of Excise)
a.Farm Inputs 183.70 184.55 735.56 838.68
b.Sugar 88.50 123.70 476.75 539.02
c.Parryware 34.15 31.15 141.87 129.41
d.Bio-products 3.92 10.37 8.87 16.59
e.Others 3.65 2.26 22.46 11.02
Sub-total 313.92 352.03 1385.51 1534.72
Less : Intersegmental Revenue 3.24 3.05 9.15 7.59
Net Sales
/Income from
Operations 310.68 348.98 1376.36 1527.13
2.Segment
Results ( Profit (+)/ Loss (-)
before Tax and Interest from each segment )
a.Farm Inputs 2.37 12.85 19.84 44.87
b.Sugar 13.38 15.50 21.83 52.91
c.Parryware 4.20 3.36 16.97 10.44
d.Bio-products 1.19 3.90 (1.41) 2.52
Sub-total 21.14 35.61 57.23 110.74
Less :
(i) Interest ( Net ) (6.06) (9.18) (32.82) (52.78)
(ii) Other un-allocable expendit-
ure net of un- allocable income (0.19) (2.81) 12.62 0.70
Total Profit Before Tax 14.89 23.62 37.03 58.66
3.Capital
Employed
(Segment Assets - Segment Liabilities)
a.Farm Inputs 235.06 214.52 235.06 214.52
b.Sugar 361.18 401.34 361.18 401.34
c.Parryware 79.86 86.12 79.86 86.12
d.Bio-products 36.25 41.81 36.25 41.81
e.Others (Including Investments) 105.00 108.23 105.00 108.23
Total 817.35 852.02 817.35 852.02
