|
|
|
Audited
Financial Results For The Year Ended 31.12.2005
| |
|
|
|
|
(Rs
In Lacs) |
| |
|
Quarter
Ended
31.12.2005
(Unaudited) |
Quarter
Ended
31.12.2004
(Unaudited) |
Year
Ended
31.12.2005
(Audited) |
Year
Ended
31.12.2004
(Audited) |
| Gross
Sales |
|
13,256 |
11,800 |
49,841 |
45,391 |
| Less:
Excise & Sales Tax |
|
1,749 |
1,486 |
6,555 |
5,989 |
| Net
Sales / Income from Operations |
|
11,507 |
10,314 |
43,286 |
39,402 |
| Other
Income |
|
332 |
172 |
949 |
551 |
| Total
Expenditure |
|
10,037 |
9,242 |
37,818 |
34,317 |
| (Increase)/
Decrease In Stock In Trade |
|
7 |
133 |
(306) |
91 |
| Consumption
of Raw & Packing Materials |
|
7,730 |
7,090 |
30,055 |
26,851 |
| Staff
Costs |
|
869 |
746 |
3,214 |
2,970 |
| Other
Expenditure |
|
1,431 |
1,273 |
4,855 |
4,405 |
| Interest
(Net) |
|
16 |
4 |
54 |
62 |
| Gross
Profit |
|
1,786 |
1,240 |
6,363 |
5,574 |
| Depreciation
& Amortisation |
|
618 |
590 |
2,494 |
2,209 |
| Profit
Before Tax & Extraordinary Items |
|
1,168 |
650 |
3,869 |
3,365 |
| Extraordinary
Items (Refer Note G) |
|
(4) |
-
|
80 |
- |
| Profit
Before Tax & After Extraordinary Items |
|
1,172 |
650 |
3,789 |
3,365 |
| Provision
For - Current Taxes |
|
373 |
156 |
1,285 |
1,017 |
| -
Fringe Benefits Tax |
|
13 |
- |
34 |
- |
|
- Deferred Taxes |
|
(65) |
(17) |
(297) |
(63) |
| Profit
After Tax |
|
851 |
511 |
2,767 |
2,411 |
| Dividend
recommended per Equity Share (Rs.) |
|
|
|
7.00 |
6.00 |
| Paid
Up Share Capital - Equity Face Value Rs.10 |
|
1,254 |
1,254 |
1,254 |
1,254 |
| Reserves
(Excl. Revaluation Reserve) |
|
|
|
18,130 |
16,370 |
| Basic
& Diluted EPS including Extraordinary Items (Not Annualised)
(Rs.) |
|
6.79 |
4.08 |
22.07 |
19.23 |
| Basic
& Diluted EPS excluding Extraordinary Items (Not Annualised)
(Rs.) |
|
6.76 |
4.08 |
22.71 |
19.23 |
| Aggregate
of Non-Promoter Shareholding |
|
|
|
|
|
| -
Number of Shares |
|
4,546,916 |
4,546,916 |
4,546,916 |
4,546,916 |
| -
Percentage of Shareholding |
|
36.27% |
36.27% |
36.27% |
36.27% |
|
|
|
|
|
|
|
| Notes: |
|
|
|
|
|
| A. |
Inter
Unit Sales (Incl. in Net Sales
above) |
|
1,088 |
855 |
3,457 |
3,224 |
| |
Auditors
have qualified their opinion on the results for the year ended
31st December 2005 (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 and the asset turnover ratio. Further this treatment
has no impact on profits for the year or reserves. |
| B. |
There
were no investor complaints pending at the beginning of the
quarter. Two investor complaints were received & resolved
during the quarter. No complaints were 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
commissioner has passed an order on 22nd September 2004 raising
an excise duty demand of Rs.320 Lacs. CESTAT vide it's order
dated 15th July 2005, received by the company in August 2005,
has upheld the order passed by the commissioner, however,
an appeal against CESTAT's order has been preferred before
the Supreme Court & stay obtained. An appeal against a
demand of Rs.53 Lacs on similar matter is pending before the
Supreme Court. Consistent with the previous stand & based
on the opinion of legal counsel, no provision is made in the
financial statements. |
| E. |
Other
Income for the year ended 31st December 2005 includes Rs.180
Lacs compensation received on settlement of a claim accounted
in Q1 2005 & Profit of Rs.183 Lacs on sale of Transferable
Development Rights recieved as compensation for compulsory
acquisition of a portion of vacant land at Thane plant by
Thane Municipal Corporation accounted in Q4 2005. |
| F. |
Work
of construction of buildings & procurement of equipments
for greenfield project in North India has commenced. |
G. |
Extraordinary
Items for Q4 2005 of Rs.(-)4 Lacs & year ended 31st December
2005 of Rs.80 Lacs represent management estimate of loss of
assets damaged (net of estimated insurance claim) due to incessant
heavy rains in Thane & Mumbai on 26th July 2005 which
affected the operations of Thane plant.
Detailed claim assessment & settlement process is going
on. The operations of Thane plant are recovering due to focused
efforts. |
| H. |
Previous
year figures are appropriately reclassified to conform with
current year's classification. |
| I. |
The
above results were reviewed by the audit committee & taken
on record by the board in it's meeting held on 31st January
2006. |
| Mumbai |
For The Paper Products Ltd. |
| 31st
January, 2006 |
(Visit
us at our website: www.pplpack.com) Suresh
Gupta - Managing Director |
|
