|
|
|
Unaudited
Financial Results for the Quarter Ended 30.09.2007
| |
|
|
|
|
(Rs
in Lacs) |
| |
Quarter
Ended
30.09.2007
(Unaudited) |
Quarter
Ended
30.09.2006
(Unaudited) |
9
Months
Ended
30.09.2007
(Unaudited) |
9
Months
Ended
30.09.2006
(Unaudited) |
Year
Ended
31.12.2006
(Audited) |
| Gross
Sales |
16,296 |
15,260 |
47,300 |
43,374 |
57,957 |
| Less:
Excise & Sales Tax |
1,719 |
2,026 |
5,568 |
5,975 |
7,836 |
| Net
Sales / Income from Operations |
14,577 |
13,234 |
41,732 |
37,399 |
50,121 |
| Other
Income (Refer Note D & E) |
296 |
301 |
835 |
866 |
1,116 |
| Total
Income |
14,873 |
13,535 |
42,567 |
38,265 |
51,237 |
| Expenditure |
|
|
|
|
|
| (Increase)/
Decrease In Stock In Trade |
(298) |
31 |
(715) |
(259) |
11 |
| Consumption
of Raw & Packing Materials |
10,759 |
9,209 |
30,411 |
26,101 |
34,934 |
| Staff
Costs |
1,141 |
1,034 |
3,213 |
2,880 |
3,779 |
Depreciation
& Amortisation |
745 |
573 |
2,134 |
1,715 |
2,306 |
| Other
Expenditure |
1,705 |
1,511 |
4,837 |
4,435 |
5,895 |
| Total
Expenditure |
14,052 |
12,358 |
39,880 |
34,872 |
46,925 |
| Interest
(Net) |
48 |
14 |
106 |
37 |
30 |
| Profit
Before Exceptional Items |
773 |
1,163 |
2,581 |
3,356 |
4,282 |
Exceptional
Items(+Income/ (-) Loss) (Refer Note F) |
- |
- |
(318) |
- |
- |
Profit
from Ordinary Activities Before Tax |
773 |
1,163 |
2,263 |
3,356 |
4,282 |
| Extraordinary
Items (+Income/ (-) Loss) (Refer Note G) |
- |
1,208 |
- |
1,208 |
1,208 |
| Profit
After Extraordinary & Exceptional Items & Before Tax |
773 |
2,371 |
2,263 |
4,564 |
5,490 |
| Provision
for - Current Taxes (Refer Note H) |
60 |
278 |
287 |
1,022 |
1,208 |
|
- Fringe Benefits Tax |
11 |
7 |
36 |
34 |
51 |
|
-
Deferred Taxes |
(45) |
450 |
19 |
271 |
237 |
| Profit
After Extraordinary & Exceptional Items & Tax |
747 |
1,636 |
1,921 |
3,237 |
3,994 |
| Dividend
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.) |
1.19 |
2.61 |
3.06 |
5.16 |
6.37 |
Basic
& Diluted EPS excluding Extraordinary Items
(Not Annualised) (Rs.) |
1.19 |
1.59 |
3.06 |
4.14 |
5.35 |
Basic
& Diluted EPS excluding Extraordinary & Exceptional Items
(Not Annualised) (Rs.) |
1.19 |
1.59 |
3.43 |
4.14 |
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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|
|
|
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| Notes: |
|
|
|
|
|
| A. |
Inter
Unit Sales (Incl. in Net Sales & Raw Materials Consumed
above) |
1,036 |
967 |
2,755 |
2,758 |
3,653 |
|
Auditors
have qualified their opinion on the results for the quarter
ended 30th September 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 &
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. |
Other
Income for Q3-2007 includes profit of Rs. 95 Lacs realised
on sale of a residential property. Other Income for Q3-2006
included profit of Rs.139 Lacs realised on the disposal of
leasehold land. |
| E. |
Consequent
to the applicability of Accounting Standard AS 11 (Revised
2003), exchange fluctuation on revaluation of liabilities
\ loans incurred for acquiring fixed assets from countries
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 Q3-2007 and nine months ended 30th September
2007 includes an exchange loss of Rs.21 Lacs & exchange
gain of Rs. 17 Lacs on this account respectively and consequently,
profit is lower by Rs.21 Lacs & higher by Rs.17 Lacs in
the respective periods. Net effect of the same on the previous
year is not expected to be material & has not been quantified. |
| F. |
The
exceptional item of Rs. 318 Lacs has arisen 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 statements. Provision has been done
in Q2-2007 based on the legal advice obtained. The Company's
review petition is pending before the Supreme Court. |
G. |
Extra
Ordinary Item during Q3-2006 of Rs.1208 Lacs represents the
difference between the insurance claim settlement amount,
the expenditure already incurred & further provision made
towards repairs to be incurred in connection with damages
to fixed asets at Thane Plant consequent to floods on 26th
July 2005. |
| H. |
Provision
for current taxes is net of write back in Q3-2007 of excess
provision for earlier periods of Rs.150 Lacs. |
I. |
Specialised
Pouching facility as Silvassa Plant & Specialised Printing
Line at Hyderabad have commenced production during the current
quarter. |
J. |
The
above results were reviewed by the audit committee & taken
on record by the board in it's meeting held on 26th October
2007. |
| Mumbai |
|
| 26th
October, 2007 |
For The Paper Products Ltd. |
| (Visit
us at our website: www.pplpack.com) |
Suresh
Gupta - Managing Director |
|
