The
Paper Products Ltd |
Regd.
Office: Regent Chambers, 13th floor, Nariman Point, MUMBAI 400 021 |
Corporate
Office: L.B.Shastri Marg, Majiwade, Thane 400 601. |
| 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 |