1st Quarter Results
22 Julho 2003 - 4:15AM
UK Regulatory
E.I.D.- PARRY (INDIA) LIMITED
Registered Office: `Dare House' Parry's Corner, Chennai - 600 001.
Unaudited Financial Results (Provisional) for the quarter ended June 30, 2003
Rs. Crore
Un-audited Audited
First Quarter ended Year ended
June 30, June 30, March 31,
2003 2002 2003
1. Net Sales/Income from Operations-Gross of Excise Duty 194.03 315.35 1344.52
Less: Excise Duty 14.77 16.25 54.60
_______ _______ _______
Net sales/Income from Operations - Net of Excise Duty 179.26 299.10 1289.92
2. Other Income 1.31 0.89 31.84
_______ _______ _______
Total Income 180.57 299.99 1321.76
_______ _______ _______
3. Total Expenditure :
a) (Accretion) / Decretion to Stock (77.69) (27.79) (4.08)
b) Consumption of Raw Materials 119.65 158.95 480.18
c) Purchase of Goods for resale 48.10 59.22 426.76
d) Staff cost 17.09 17.01 67.63
e) Other Expenditure 55.09 66.38 236.40
_______ _______ _______
162.24 273.77 1206.89
_______ _______ _______
4. Gross Profit 18.33 26.22 114.87
5. Interest (Net) 4.42 11.38 32.82
6. Depreciation 11.26 11.16 45.02
7. Profit before Taxation (PBT) 2.65 3.68 37.03
8. Provision for Taxation
Current Tax 0.60 0.30 3.00
Deferred Tax (Net) 0.30 1.00 7.20
9. Net Profit after Taxation (PAT) 1.75 2.38 26.83
10. Paid up Equity Share Capital 17.84 17.84 17.84
(Face value - Rs.10 per Equity Share)
11. Reserves excluding Revaluation Reserve 370.95
12. Earnings per Share (EPS) - Basic and Diluted 0.98 1.33 15.03
(Not annualised)(Rs. per Equity Share)
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1. Due to the nature of Sugar and Fertiliser Businesses which are seasonal, the first quarter
results are not indicative of overall profitability for the year.
2. Pending announcement by GOI of final rates of concession on Fertiliser, profit has been
determined on the basis of estimates, as per extant Accounting Policy.
3. The Company has filed a Scheme of Arrangement under Sections 391,394 of the Companies Act, 1956
in the High Court of Madras in relation to the demerger of the business of the Farm Inputs Division
(FIND) to Coromandel Fertilisers Limited and the merger of Parry & Company Limited and the Mofussil
Warehouse and Trading Company Limited (wholly owned subsidiaries of the Company) with the Company
effective 01-04-2003 which is pending approval of the shareholders and sanction of the High Court.
The effect of the Scheme has not been considered in the above results.
4. The Basic minimum price of sugarcane for the sugar year 2002 - 03 notified by the Central Government
on 9th January, 2003 is being legally challenged by the South Indian Sugar Mills Association (of which
the company is a member), and the matter is sub-judice. Based on legal advice, pending disposal of the
case, no provision has been considered in the above results.
5. The Statutory Auditors of the Company have carried out a Limited Review of Unaudited Financial Results
for the quarter ended June 30, 2003.
6. During the quarter, five investor complaints were received and were disposed -off. There were no
complaints pending both at the beginning and end of the quarter.
7. The above statement of Unaudited Financial Results (Provisional) for the quarter ended June, 30 2003
was approved by the Board of Directors at their meeting held on July 21,2003.
8. Figures for the previous year have been regrouped wherever necessary.
On behalf of the Board
Chennai M.V. Subbiah
July 21, 2003 Executive Chairman
E.I.D.PARRY ( INDIA ) LIMITED
Segment Reporting under Clause 41 of the Listing Agreement with
Stock Exchange for the quarter ended 30th June,
2003
For the
Quarter ended and year to Year ended
date
June June Mar
30, 2003 30,2002 31,2003
Rs.in Crore Rs.in Crore Rs.in Crore
1.Segment Revenue ( Net Sales/Income from each Segment Gross of Excise)
a.Farm Inputs 65.51 117.52 735.56
b.Sugar 89.90 163.90 476.75
c.Parryware 40.16 35.96 141.87
d.Bio-products 1.52 1.37 8.87
e.Others 0.11 0.14 22.46
_______ _______ _______
Sub-total 197.20 318.89 1385.51
Less : Intersegmental Revenue 1.86 2.65 9.15
Net Sales /Income from Operations 195.34 316.24 1376.36
2.Segment Results ( Profit (+)/ Loss (-) before Tax and Interest from each segment)
a.Farm Inputs (0.60) 4.77 19.84
b.Sugar 5.73 10.25 21.83
c.Parryware 4.43 2.92 16.97
d.Bio-products (1.51) (1.09) (1.41)
_______ _______ _______
Sub-total 8.05 16.85 57.23
Less : (i) Interest (Net) (4.42) (11.38) (32.82)
(ii) Other un-allocable expenditure net
of un-allcable income (0.79) (1.79) 12.62
_______ _______ _______
Total Profit Before Tax 2.84 3.68 37.03
_______ _______ _______
3.Capital Employed (Segment Assets - Segment Liabilities)
a.Farm Inputs 272.15 289.24 235.06
b.Sugar 419.08 410.25 361.18
c.Parryware 76.83 78.08 79.86
d.Bio-products 35.41 40.38 36.25
e.Others (Including Investments) 90.24 135.55 105.00
_______ _______ _______
Total 893.71 953.50 817.35
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