|
|
|
Unaudited
Financial Results for the Quarter Ended 31.03.2005
| |
|
|
|
|
Rs
in Lacs |
| |
|
|
Quarter
Ended
31.03.2005
(Unaudited) |
Quarter
Ended
31.03.2004
(Unaudited) |
Year
Ended
31.12.2004
(Audited) |
| Gross
Sales |
|
|
11,592 |
11,225 |
45,391 |
| Less:
Excise & Sales Tax |
|
|
1,484 |
1,541 |
5,989 |
| Net
Sales / Income from Operations |
|
|
10,108 |
9,684 |
39,402 |
| Other
Income |
|
|
328 |
147 |
551 |
| Total
Expenditure |
|
|
8971 |
8,382 |
34,317 |
| (Increase)/
Decrease In Stock In Trade |
|
|
(108) |
64 |
91 |
| Consumption
of Raw & Packing Materials |
|
|
7,285 |
6,639 |
26,851 |
| Staff
Costs |
|
|
730 |
675 |
2,970 |
| Other
Expenditure |
|
|
1,064 |
1,004 |
4,405 |
| Interest
(Net) |
|
|
11 |
26 |
62 |
| Gross
Profit |
|
|
1,454 |
1,423 |
5,574 |
| Depreciation
& Amortisation |
|
|
625 |
489 |
2,209 |
| Profit
Before Tax |
|
|
829 |
934 |
3,365 |
| Provision
For - Current Taxes |
|
|
236 |
262 |
1,017 |
|
-
Deferred Taxes |
|
|
(37) |
(1) |
(63) |
| Profit
After Tax |
|
|
630 |
673 |
2,411 |
| Dividend
recommended per Equity Share (Rs.) |
|
|
|
|
6.00 |
| Paid
Up Share Capital - Equity Face Value Rs.10 |
|
|
1,254 |
1,254 |
1,254 |
| Reserves
(Excl. Revaluation Reserve) |
|
|
|
|
16,370 |
| Basic
& Diluted EPS (Not Annualised) (Rs.) |
|
|
5.03 |
5.37 |
19.23 |
| Aggregate
of Non-Promoter Shareholding |
|
|
|
|
|
| -
Number of Shares |
|
|
4,546,916 |
4,517,261 |
4,546,916 |
| -
Percentage of Shareholding |
|
|
36.27% |
36.03% |
36.27% |
|
|
|
|
|
|
|
| Notes: |
|
|
|
|
(Rs.
in Lacs) |
| A. |
Inter
Unit Sales (Incl. in Net Sales
above) |
|
|
878 |
802 |
3,224 |
| |
The
auditors have carried out a limited review of the financial
results for the quarter ended 31st March 2005 as per clause
41 of the Listing Agreement with Stock Exchange. Auditors
have qualified the opinion on the results for the quarter
ended 31st March 2005 (as in the prior periods) for inclusion
of inter unit sales in net sales & raw materials consumed.
The same however has no impact on profits or reserves. |
| B. |
There
were no investor complaints pending at the begining of the
quarter. Five investor complaints were received and resolved
during the quarter and no complaints were pending at the end
of the quarter. |
| C. |
The
Company's sole business segment is consumer packaging & all
activities of the Company are incidental to this business
segment. |
| D. |
The
historically unprecendented increase in raw material prices
mid previous year driven by the surge in petrochemicals prices
continues to put pressure on margins. However specific strategies
are being deployed to arrest deterioration & bring positive
reversal. |
E. |
The
commissioner has passed an order on 22nd September 2004 raising
an excise duty demand of Rs. 320 Lacs. The Company has filed
an appeal against same before CESTAT. A demand of Rs. 53 Lacs
on similar matter is being contested in an appeal before the
supreme court. Consistent with the previous stand & based
on the opinion of legal counsel, no provision is made in the
financial statements. |
| F. |
Other
income for the Q1 2005 includes Rs. 180 Lacs compensation
on settlement of a claim. |
| G. |
The
above results were reviewed by the audit committee & taken
on record by the board in it's meeting held on 26th April 2005. |
| Thane |
For The Paper Products Ltd. |
| 26th
April, 2005 |
Suresh
Gupta - Managing Director |
|
