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 Year Ended 31.03.2008 |
| (Rs
in Lacs) |
|||||
| Quarter Ended 31.03.2008 (Unaudited) |
Quarter Ended 31.03.2007 (Unaudited) |
Year Ended 31.12.2007 (Audited) |
|||
| Gross Sales |
17,589 |
14,947 |
64,327 |
||
| Less: Excise & Sales Tax |
1,765 |
1,922 |
7,268 |
||
| Net Sales / Income from Operations |
15,824 |
13,025 |
57,059 |
||
| Other Income (Refer Note D) |
72 |
238 |
1,170 |
||
| Total Income |
15,896 |
13,263 |
58,229 |
||
| Expenditure | |||||
| (Increase)/ Decrease In Stock In Trade |
(138) |
(236) |
(752) |
||
| Consumption of Raw & Packing Materials |
11,415 |
9,403 |
41,333 |
||
| Staff Costs |
1,046 |
958 |
4,394 |
||
|
Depreciation
& Amortisation |
730 |
668 |
2,886 |
||
| Other Expenditure |
1,707 |
1,510 |
6,499 |
||
| Total Expenditure |
14,760 |
12,303 |
54,360 |
||
| Interest (Net) (Refer Note E) |
(42) |
25 |
173 |
||
| Profit Before Exceptional Items |
1,178 |
935 |
3,696 |
||
|
Exceptional
Items (+Income/ (-) Loss) |
- |
- |
(318) |
||
|
Profit
from Ordinary Activities Before Tax |
1,178 |
935 |
3,378 |
||
| Provision for - Current Taxes (Refer Note F) |
262 |
86 |
482 |
||
| - Deferred Taxes |
(39) |
62 |
12 |
||
| - Fringe Benefits Tax |
13 |
13 |
47 |
||
| Profit from Ordinary Activities After Tax |
942 |
774 |
2,837 |
||
| Dividend recommended/ paid per Equity Share (Rs.) |
1.80 |
||||
| Paid Up Share Capital - Equity Face Value Rs.2 |
1,254 |
1,254 |
1,254 |
||
| Reserves (Excl. Revaluation Reserve) |
22,279 |
||||
| Basic & Diluted EPS including Exceptional Items (Not Annualised) (Rs.) |
1.50 |
1.23 |
4.53 |
||
| Basic & Diluted EPS excluding Exceptional Items (Not Annualised) (Rs.) |
1.50 |
1.23 |
4.89 |
||
| Aggregate of Public Shareholding | |||||
| - Number of Shares |
22,734,830 |
22,734,830 |
22,734,830 |
||
| - Percentage of Shareholding |
36.27% |
36.27% |
36.27% |
||
| |
|
|
|
|
|
| Notes: |
| A. | Inter Unit Sales (Incl. in Net Sales & Raw Materials Consumed above) | 1,225 |
921 |
3,853 |
| Auditors
have qualified their opinion on the results for the quarter ended 31st
March 2008 (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 & 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 & at the end
of the quarter. No investor complaint was received during the quarter. |
| C. | The company's sole business segment is consumer packaging & all activities of the company are incidental to this business segment. |
| D. | A
book loss of Rs.116 Lacs has been taken in Q1 2008, for mark to market
valuation of forex contracts which have been entered into to hedge the
forecast transactions, consequent to the ICAI announcement of 29th March
2008 on Accounting for Derivatives. Accordingly other income for Q1-2008
is lower to that extent. |
| E. | Interest
Expense is net of Interest Income of Rs.117 Lacs received during Q1-2008
on Income Tax Refunds. |
| F. | Provision
for current taxes for Q1-2008 is net of write back of excess provision
for earlier periods of Rs.62 Lacs on finalisation of assessment. |
| G. | Reconstruction
of Thane Plant is on going & relocation of operations in a phased
manner is scheduled to commence from mid 2008. |
H. |
The
above results were reviewed by the audit committee & taken on record
by the board in it's meeting held on 23rd April 2008. |
| Mumbai |
For The Paper Products Ltd. |
| 23rd April, 2008 | (Visit
us at our website: www.pplpack.com) Suresh
Gupta - Managing Director |