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|
|
Unaudited
Financial Results for the Quarter Ended 30.06.2007
| |
|
|
|
|
(Rs
in Lacs) |
| |
Quarter
Ended
30.06.2007
(Unaudited) |
Quarter
Ended
30.06.2006
(Unaudited) |
Half
Year
Ended
30.06.2007
(Unaudited) |
Half
Year
Ended
30.06.2006
(Unaudited) |
Year
Ended
31.12.2006
(Audited) |
| Gross
Sales |
16,057 |
14,665 |
31,004 |
28,114 |
57,957 |
| Less:
Excise & Sales Tax |
1,928 |
2,107 |
3,849 |
3,949 |
7,836 |
| Net
Sales / Income from Operations |
14,129 |
12,558 |
27,155 |
24,165 |
50,121 |
| Other
Income |
302 |
209 |
539 |
565 |
1,116 |
| Total
Expenditure |
12,803 |
11,109 |
24,438 |
21,372 |
44,619 |
| (Increase)/
Decrease In Stock In Trade |
(181) |
(208) |
(417) |
(289) |
11 |
| Consumption
of Raw & Packing Materials |
10,249 |
8,857 |
19,652 |
16,892 |
34,934 |
| Staff
Costs |
1,113 |
989 |
2,072 |
1,846 |
3,779 |
| Other
Expenditure |
1,622 |
1,471 |
3,131 |
2,923 |
5,895 |
| Interest
(Net) |
34 |
9 |
59 |
23 |
30 |
| Gross
Profit |
1,594 |
1,649 |
3,197 |
3,336 |
6,588 |
| Depreciation
& Amortisation |
721 |
561 |
1,389 |
1,142 |
2,306 |
| Profit
Before Extraordinary & Exceptional Items & Tax |
873 |
1,089 |
1,808 |
2,194 |
4,282 |
| Extraordinary
Items (+Income/ (-) Loss) |
- |
- |
- |
- |
1,208 |
| Exceptional
Item (+Income/ (-) Loss) (Refer Note D) |
(318) |
- |
(318) |
- |
- |
| Profit
After Extraordinary & Exceptional Items & Before Tax |
555 |
1,089 |
1,490 |
2,194 |
5,490 |
| Provision
for - Current Taxes |
141 |
340 |
227 |
744 |
1,208 |
|
- Fringe Benefits Tax |
12 |
14 |
25 |
27 |
51 |
|
-
Deferred Taxes |
2 |
(81) |
64 |
(178) |
237 |
| Profit
After Extraordinary & Exceptional Items & Tax |
400 |
816 |
1,174 |
1,601 |
3,994 |
| Dividend
recommended paid per Equity Share (Rs.) |
|
|
|
|
1.80 |
| Paid
Up Share Capital - Equity Face Value Rs.2 |
1,254 |
1,254 |
1,254 |
1,254 |
1,254 |
| Reserves
(Excl. Revaluation Reserve) |
|
|
|
|
20,837 |
| Basic
& Diluted EPS including Extraordinary & Exceptional Items
(Not Annualised) (Rs.) |
0.64 |
1.30 |
1.87 |
2.55 |
6.37 |
| Basic
& Diluted EPS excluding Extraordinary Items (Not Annualised)
(Rs.) |
0.64 |
1.30 |
1.87 |
2.55 |
5.35 |
| Basic
& Diluted EPS excluding Extraordinary & Exceptional Items
(Not Annualised) (Rs.) |
1.01 |
1.30 |
2.24 |
2.55 |
5.35 |
| Aggregate
of Public Shareholding |
|
|
|
|
|
| -
Number of Shares |
22,734,830 |
22,734,580 |
22,734,830 |
22,734,580 |
22,734,580 |
| -
Percentage of Shareholding |
36.27% |
36.27% |
36.27% |
36.27% |
36.27% |
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| Notes: |
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| A. |
Inter
Unit Sales (Incl. in Net Sales & Raw Materials Consumed
above) |
798 |
937 |
1,719 |
1,719 |
3,653 |
|
Auditors
have qualified their opinion on the results for the quarter
ended 30th June 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 & 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. One investor complaint was received & resolved
during the quarter. No complaint was 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
exceptional item of Rs.318 Lacs arises out of the Supreme
Court judgement received by the company on a contested matter
on excise duty which was shown as contingent liability in
the past years' financial statemnets. Provision has been done
based on the legal advice obtained & the Company intends
to file a review petition with the Supreme Court. |
| E. |
Consequent
to the applicability of Accounting Standard AS 11 (Revised
2003) The Effects of Changes in Foreign Exchange Rates as
per the Companies (Accounting Standards) Rules 2006, exchange
fluctuation on revaluation of liabilities \ loans incurred
for acquiring fixed assets from a country outside India has
been recognised in the profit and loss account as against
the earlier policy of adjusting the same in the carrying cost
of the related fixed assets. Accordingly, Other income for
the quarter and half year ended 30 June 2007 includes an exchange
gain of Rs.38 Lacs on this account and, consequently, profit
for the Q2-2007 & H1-2007 is higher by Rs.38 Lacs. Net
effect of the same on the previous year is not expected to
be material & has not been quantified for disclosure purpose. |
| F. |
The
remaining facilities of the North India Greenfield project
in the State of Uttarakhand have been commissioned during
the quarter. |
G. |
Consequent
to approval by Sharholders in the AGM held on 27th April 2007
subdivision of shares(from Rs.10 per share to Rs.2 per share)
has been completed during the quarter & accordingly number
of outstanding shares & EPS have been recast & presented
accordingly. |
| H. |
The
above results were reviewed by the audit committee & taken
on record by the board in it's meeting held on 27th July 2007. |
| Mumbai |
|
| 27th
July, 2007 |
For The Paper Products Ltd. |
| (Visit
us at our website: www.pplpack.com) |
Suresh
Gupta - Managing Director |
|
