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 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
|
|
| 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% |
| |
|
|
|
|
|
| Notes: |
| 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 |
For The Paper Products Ltd. |
| 27th July, 2007 | (Visit
us at our website: www.pplpack.com) Suresh
Gupta - Managing Director |