|
|
|
Unaudited
Financial Results for the Quarter Ended 31.03.2007
| |
|
|
|
|
(Rs
in Lacs) |
| |
|
|
Quarter
Ended
31.03.2007
(Unaudited) |
Quarter
Ended
31.03.2006
(Unaudited) |
Year
Ended
31.12.2006
(Audited) |
| Gross
Sales |
|
|
14,947 |
13,449 |
57,957 |
| Less:
Excise & Sales Tax |
|
|
1,922 |
1,842 |
7,836 |
| Net
Sales / Income from Operations |
|
|
13,025 |
11,607 |
50,121 |
| Other
Income |
|
|
238 |
356 |
1,116 |
| Total
Expenditure |
|
|
11,635 |
10,263 |
44,619 |
| (Increase)/
Decrease In Stock In Trade |
|
|
(236) |
(81) |
11 |
| Consumption
of Raw & Packing Materials |
|
|
9,403 |
8,035 |
34,934 |
| Staff
Costs |
|
|
958 |
857 |
3,779 |
| Other
Expenditure |
|
|
1,510 |
1,452 |
5,895 |
| Interest
(Net) |
|
|
25 |
14 |
30 |
| Gross
Profit |
|
|
1,603 |
1,686 |
6,588 |
| Depreciation
& Amortisation |
|
|
668 |
581 |
2,306 |
| Profit
Before Tax & Extraordinary Items |
|
|
935 |
1,105 |
4,282 |
| Extraordinary
Items (+ Income\ (-) Loss) |
|
|
- |
- |
1,208 |
| Profit
Before Tax & After Extraordinary Items |
|
|
935 |
1,105 |
5,490 |
| Provision
For - Current Taxes |
|
|
86 |
404 |
1,208 |
|
- Fringe Benefits Tax |
|
|
13 |
13 |
51 |
|
-
Deferred Taxes |
|
|
62 |
(97) |
237 |
| Profit
After Tax |
|
|
774 |
785 |
3,994 |
| Dividend
recommended per Equity Share (Rs.) |
|
|
|
|
9.00 |
| Paid
Up Share Capital - Equity Face Value Rs.10 |
|
|
1,254 |
1,254 |
1,254 |
| Reserves
(Excl. Revaluation Reserve) |
|
|
|
|
20,837 |
| Basic
& Diluted EPS including Extraordinary Items (Non Annualised)
(Rs.) |
|
|
6.17 |
6.26 |
31.85 |
| Basic
& Diluted EPS excluding Extraordinary Items (Non Annualised)
(Rs.) |
|
|
6.17 |
6.26 |
26.73 |
| Aggregate
of Public Shareholding |
|
|
|
|
|
| -
Number of Shares |
|
|
4,546,961 |
4,546,916 |
4,546,916 |
| -
Percentage of Shareholding |
|
|
36.27% |
36.27% |
36.27% |
|
|
|
|
|
|
|
| Notes: |
|
|
|
|
|
| A. |
Inter
Unit Sales (Incl. in Net Sales
& Raw Materials Consumed above) |
|
|
921 |
854 |
3,653 |
| |
Auditors
have qualified their opinion on the results for the quarter
ended 31st March 2007 (as in the prior periods) for inclusion
of inter unit sales in net sales & raw materials consumed.
The management has continued with this practice as in its
view this treatment helps in correctly evaluating the operating
profit ratio and the asset turnover ratio. Further this treatment
has no impact on profits for the quarter. |
| B. |
There
were no investor complaints pending at the beginning of the
quarter. No investor complaints were received during the quarter.
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
commissioner of excise vide his order dated 22nd September
2004 has raised an excise duty demand of Rs. 320 Lacs. CESTAT
vide it's order dated 15th July 2005, received by the company
in August 2005, has upheld the order passed by the commissioner,
however, an appeal against CESTAT's order has been preferred
before the Supreme Court & stay obtained. An appeal against
a demand of Rs.53 Lacs on similar matter is pending before
the Supreme Court. Consistent with the previous stand &
based on the opinion of legal counsel, no provision is made
in the financial statements. |
| E. |
Consequent
to AS 15 (Revised) Employee Benefits issued by Institute of
Chartered Accountants of India becoming effective the Company
has adjusted the impact on the adoption of this standard of
Rs. 41.24 Lacs against opening reserves as at 1st January 2007.
|
| F. |
The
first phase of the North India Greenfield project in the State
of Uttarakhand was commissioned & commercial production
commenced in January 2007. The remaining facilities are being
commissioned in a phased manner & the project is expected
to be completed by end Q2-2007. |
| G. |
The
above results were reviewed by the audit committee & taken
on record by the board in it's meeting held on 27th April 2007. |
| Mumbai |
For The Paper Products Ltd. |
| 27th
April, 2007 |
(Visit
us at our website: www.pplpack.com) Suresh
Gupta - Managing Director |
|
