Unaudited Financial Results For The Quarter Ended 31.03.2010

         
(Rs in Lacs)
     
Quarter
Ended
31.03.2010
(Unaudited)
Quarter
Ended
31.03.2009
(Unaudited)
Year
Ended
31.12.2009
(Audited)
Gross Sales    
17,182
15,374
61,796
Less: Excise & Sales Tax    
1,274
1,057
4,027
Net Sales / Income from Operations    
15,908
14,317
57,769
Other Operating Income    
163
156
657
Total Income    
16,071
14,473
58,426
Expenditure    
  (Increase)/ Decrease In Stock In Trade & Work in Progress    
(486)
33
(277)
  Consumption of Raw & Packing Materials    
11,361
9,035
38,531
  Staff Costs    
1,318
1,117
4,933
  Depreciation & Amortisation
    
817
752
3,115
  Other Expenditure    
2,000
1,790
7,461
Total Expenditure    
15,010
12,727
53,763
Foreign Exchange (-)Loss/ (+) Gain    
131
(100)
154
Profit from Operations before Other Income, Interest & Exceptional items    
1,192
1,646
4,817
Other Income    
35
48
133
Profit before Interest and Exceptional items    
1,227
1,694
4,950
IInterest (Net) (Refer Note B)    
12
63
(7)
Profit after Interest but before Exceptional items    
1,215
1,631
4,957
Exceptional Income - (Net) ( Refer note C)    
1,398
-
-
Profit from Ordinary Activities Before Tax    
2,613
1,631
4,957
Provision for  - Current Taxes (Refer Note D)
    
640
503
1,219
                     - Deferred Taxes    
(27)
12
(12)
                     - Fringe Benefits Tax    
-
12
12
Net Profit from Ordinary Activities After Tax    
2,000
1,104
3,738
Dividend recommended per Equity Share (Rs.)    
-
-
3.00
Paid Up Share Capital - Equity Face Value Rs.2    
1,254
1,254
1,254
Reserves (Excl. Revaluation Reserve)    
-
-
24,625
Basic & Diluted EPS (Not Annualised) (Rs.)    
3.19
1.76
5.96
Basic & Diluted EPS Excluding Exceptional Items (Not Annualised) (Rs.)    
1.42
1.76
5.96
Public Shareholding    
 
-Number of Shares    
22,641,258
22,641,258
22,641,258
-Percentage of Shareholding    
36.12%
36.12%
36.12%
Promoters & Promoter Group Shareholding    
 
a. Pledged / Encumbered -Number of Shares    
Nil
Nil
Nil
-Percentage of Shares ( as a % of the total shareholding of the promoter    
Nil
Nil
Nil
& promoter group)          
-Percentage of Shares ( as a % of the total share capital of the company)    
Nil
Nil
Nil
b.Non-Encumbered -Number of Shares
 
40,045,932
40,045,932
40,045,932
-Percentage of Shares ( as a % of the total shareholding of the promoter
 
100.00%
100.00%
100.00%
& promoter group)    
 
-Percentage of Shares ( as a % of the total share capital of the company)
 
63.88%
63.88%
63.88%
Notes:          
 A.
The company's sole business segment is consumer packaging & all other activities of the company are incidental to this business segment.
B. 

Interest Expense is net of interest income received on income tax refunds. Interest income received for Q1-10 ,Q1-09 & Y-09 is Nil, Nil and Rs.108 Lacs respectively.
C. 
Exceptional income of Rs 1,398 Lacs in Q1-10 represents net gain realised on sale of Nagpur factory property. Current tax for Q1-10 includes Rs 286 Lacs relating to the above exceptional income.
D. 
Provision for current taxes is net of write back of excess provision for earlier periods. Write back of excess income tax provision for Q1-10 ,Q1-09 & Y-09 is Nil, Nil and Rs.103 Lacs respectively.
E.
There were no investor complaints pending at the beginning & at the end of the quarter. No investor complaint was received during the quarter.
F.
There was a fire at Thane plant old premises as a result one printing machine has been damaged. The company is adequately insured & is in the process of filing claim with the insurance company.
G.
The above results were reviewed by the audit committee & taken on record by the board at it's meeting held on 27th April 2010.
H.
Above results are subject to limited review to be carried out by the statutory auditors.
Mumbai   
 
27th April, 2010  
For The Paper Products Ltd.
(Visit us at our website: www.pplpack.com)
             Suresh Gupta -Chairman & Managing Director