| -- |
Quarter
Ended |
Half
Year Ended |
Year
Ended |
|
30.09.2009 |
30.09.2008 |
30.09.2009 |
30.09.2008 |
31.03.2009
(Audited)
|
| 1
|
|
1383.91 |
|
2723.37 |
|
|
|
|
Less:
Excise Duty |
12.73 |
|
26.93 |
|
|
|
|
Net
Sales |
1371.18 |
1302.46 |
2696.44 |
2473.22 |
4960.60 |
| |
b) Other
Operating Income |
71.70 |
50.39 |
120.38 |
83.41 |
296.42 |
|
Total Operating Income (a+b) |
1442.88 |
1352.85 |
2816.82 |
2556.63 |
5257.02 |
| 2 |
Expenditure |
|
|
|
|
|
|
|
a)
(Increase)/ decrease in
Stock-in-trade and work in progress
|
1.18 |
9.59
|
(58.02) |
(38.51)
|
(113.55)
|
|
|
b)
Consumption of Materials |
485.82 |
481.81
|
1004.42 |
932.18
|
1892.18
|
| |
c) Purchase
of Traded Goods |
152.57 |
136.15 |
299.82 |
297.44 |
588.04
|
| |
d)
Employee Cost |
86.42 |
78.64 |
181.44 |
163.14 |
316.95 |
| |
e) Depreciation |
47.81 |
40.61
|
93.62 |
78.84 |
170.61
|
| |
f)
Other Expenditure |
336.05 |
435.65
|
666.80 |
795.96
|
1537.27
|
| |
g)
Total |
1109.85 |
1182.45 |
2188.08 |
2229.05 |
4391.50 |
| 3
|
Profit (+) / Loss (-) from Operations before Other Income
and Interest (1-2)
|
333.03 |
170.40 |
628.74 |
327.58 |
865.52 |
4 |
Other
Income |
12.82 |
16.87 |
24.79 |
33.89 |
69.75 |
5 |
Profit
(+)/ Loss (-) before Interest (3+4) |
345.85 |
187.27 |
653.53 |
361.47 |
935.27 |
6 |
Interest
|
8.36 |
5.59 |
18.83 |
9.25 |
33.96 |
7 |
Profit
(+)/ Loss (-) after Interest but before Tax (5-6) |
337.49 |
181.68 |
634.70 |
352.22 |
901.31 |
| 8 |
Tax Expense |
|
|
|
|
|
| |
a)
Current Tax |
57.75 |
20.50 |
108.25 |
42.00 |
101.00 |
| |
b)
Deferred Tax |
4.00 |
7.75 |
9.00 |
15.00 |
15.00 |
| |
c)
Fringe Benefit Tax |
- |
2.00 |
- |
3.75 |
8.50 |
| 9
|
Net Profit (+) / Loss (-) after Tax (7-8) |
275.74 |
151.43 |
517.45 |
291.47 |
776.81 |
| 10 |
Paid-up Equity Share Capital (Face Value Rs.2/- per share)
|
160.58 |
155.46 |
160.58 |
155.46 |
155.46 |
| 11 |
Reserves excluding Revaluation Reserves as per Balance
Sheet of previous Accounting Year
|
|
|
|
|
4186.32 |
| 12 |
Earning per Share (Rs.)
* Not Annualised
|
*3.55 |
*1.95 |
*6.66 |
*3.75 |
9.99 |
| 13 |
|
|
|
|
|
|
| |
-
Number of Shares |
489687091 |
465708166 |
489687091 |
465708166 |
462918088 |
| |
- Percentage of Shareholding |
60.99 |
59.91 |
60.99 |
59.91 |
59.56 |
| 14 |
Promoters and Promoter Group Shareholding |
|
|
|
|
|
| |
a) Pledged/Encumbered |
|
|
|
|
|
| |
- Number of Shares |
NIL |
|
NIL |
|
NIL |
| |
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
NIL |
|
NIL |
|
NIL |
| |
- Percentage of shares (as a % of the total share capital of the Company) |
NIL |
|
NIL |
|
NIL |
| |
b) Non Encumbered |
|
|
|
|
|
| |
- Number of Shares |
306108047 |
|
306108047 |
|
306108047 |
| |
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
100.00 |
|
100.00 |
|
100.00 |
| |
- Percentage of shares (as a % of the total share capital of the Company) |
38.12 |
|
38.12 |
|
39.38 |
| Notes: |
| 1. |
The Company is essentially in the pharmaceutical
business segment.
|
| 2. |
No investor grievances were pending at the beginning
of the quarter. During the quarter ended 30th
September, 2009, six investor grievances were
received. As of 30th September, 2009 all grievances
have been suitably replied to.
|
| 3. |
The paid-up equity share capital stands increased
to Rs.160.58 crores (80,29,21,357 equity shares
of Rs.2 each) upon allotment of 2,56,30,000 equity
shares of Rs.2 each issued at a price of Rs.263.75
(including premium of Rs.261.75) under Qualified
Institutions Placement (QIP) during the quarter.
|
| 4. |
The Company and other manufacturers have challenged
the inclusion of five drugs i.e Salbutamol, Theophylline,
Ciprofloxacin, Cloxacillin and Norfloxacin within
the ambit of price control. The Bombay High Court
held in favour of the Company that the drugs are
outside the ambit of price control. However, on
appeal, the Supreme Court has remanded the matter
to the Bombay High Court to be reexamined in the
light of certain directions and principles laid
down by the Supreme Court. The matter is still
pending in the Bombay High Court. The Supreme
Court also stayed the recovery of amounts demanded
from the Company and other petitioners but gave
liberty to the government to recover 50% of the
alleged overcharged amounts. In a separate writ
petition filed before the Allahabad High Court,
the Company had challenged the price fixation
notifications in respect of formulations of the
aforementioned and other drugs like Doxycycline,
etc. The Allahabad High Court had ruled that all
the said price fixation notifications were ultra
vires, illegal and void. The government has filed
an appeal against this judgement which is pending
in the Supreme Court. The Supreme Court has stayed
the judgement of the Allahabad High Court but
directed that no prosecution can be launched or
coercive action taken against the Company for
recovery of any amount in respect of these drugs
till the appeal has been finally decided. The
Company has been advised that as a result of the
order of the Supreme Court, the Company cannot
be compelled to make payment of any amounts demanded
in respect of these drugs. Despite the aforementioned
order of the Supreme Court, the government has
issued various demand notices from time to time
in respect of these very drugs demanding various
amounts including interest for varying periods.
The total amount demanded as of date including
interest, amounts to Rs.1136.96 crores. The Company
has received legal advice that none of the demand
notices of the government is tenable, sustainable
or payable and the Company has also informed the
same to the government.
|
5. |
The figures of the previous year have been regrouped/recast
to render them comparable with the figures of
the current year.
|
6. |
The above results after being reviewed by the
Audit Committee were approved at the meeting of
the Board of Directors held on 28th October, 2009.
|
|
