| - |
- |
Quarter
Ended |
Year
Ended |
|
31.03.2011 |
31.03.2010 |
31.03.2011 |
31.03.2010
(Audited)
|
| 1 |
a) Gross Sales
|
1627.18 |
1329.01 |
6172.55 |
5411.68 |
| |
Less: Excise Duty |
11.96 |
11.52 |
48.71 |
52.16 |
| |
Net Sales |
1615.22 |
1317.49 |
6123.84 |
5359.52 |
| |
b) Other Operating Income
|
53.98 |
57.20 |
194.14 |
265.39 |
|
Total Operating Income (a+b) |
1669.20 |
1374.69 |
6317.98 |
5624.91 |
| 2 |
Expenditure |
|
|
|
|
| - |
a) (Increase)/decrease
in
Stock-in-trade and work in progress |
|
(88.72) |
|
(184.09) |
| - |
b) Consumption of Materials |
663.98 |
566.12 |
2299.12 |
2033.01 |
| - |
c) Purchase of Traded Goods |
198.31 |
133.42 |
683.71 |
621.66 |
| - |
d) Employee Cost |
130.75 |
99.86 |
540.98 |
371.08 |
| |
e) Depreciation |
69.65 |
49.48 |
253.63 |
187.84 |
| |
f) Other Expenditure |
436.54 |
406.02 |
1524.98 |
1430.09 |
| |
|
1436.74 |
1166.18 |
5234.16 |
4459.59 |
| 3 |
Profit (+)/Loss (-) from Operations before
Other Income, Interest & Exceptional Items (1-2)
|
232.46 |
208.51 |
1083.82 |
1165.32 |
| 4 |
Other Income |
20.35 |
45.08 |
79.43 |
88.33 |
| 5 |
Profit (+)/Loss (-) before Interest & Exceptional Items (3+4) |
252.81 |
|
1163.25 |
|
| 6 |
Interest
|
1.81 |
0.46 |
5.13 |
23.66 |
| 7 |
Profit (+)/Loss (-) after Interest but before
Exceptional Items
(5-6)
|
|
253.13 |
|
1229.99 |
| 8 |
Exceptional items |
- |
95.00 |
- |
95.00 |
| 9 |
Profit (+)/Loss (-) before Tax (7+8) |
251.00 |
348.13 |
1158.12 |
1324.99 |
| 10 |
|
37.00
|
72.60
|
191.00
|
243.50 |
| 11 |
Net Profit (+)/Loss
(-) after Tax (9-10) |
214.00 |
275.53 |
967.12 |
1081.49 |
| 12 |
Paid-up Equity Share Capital (Face Value Rs.2/-
per share)
|
160.58
|
|
160.58 |
160.58 |
| 13 |
Reserves excluding Revaluation
Reserves as per Balance Sheet of previous Accounting Year
|
|
|
|
5744.54 |
| 14 |
Earning per Share (Rs.)
** Not Annualised
|
**2.67
|
|
12.05 |
13.69 |
| 15 |
Public Shareholding
- Number of Shares
- Percentage of Shareholding
|
503606049
62.72
|
|
503606049
62.72
|
500849336
62.38
|
| 16 |
Promoters and Promoter Group Shareholding
|
|
|
|
|
| |
a) Pledged/Encumbered
- Number of Shares
- Percentage of shares
(as a % of
the total shareholding
of promoter and
promoter group)
- Percentage of shares
(as a % of
the total share capital
of the Company)
|
|
|
|
NIL
NIL
NIL
|
| |
b) Non Encumbered
- Number of Shares
- Percentage of shares
(as a % of
the total shareholding
of promoter and
promoter group)
- Percentage of shares
(as a % of
the total share capital
of the Company)
|
|
|
295485978
100.00
36.80
|
295485978
100.00
36.80
|
| Notes:
-
The Company is essentially in the pharmaceutical business segment.
-
No investor grievances were pending at the beginning of the quarter. During the quarter ended 31 st March, 2011, eleven investor grievances were received. As of 31 st March, 2011 all grievances have been suitably replied to.
-
In 2003, the Company received notice of demand from the National Pharmaceutical Pricing Authority, Government of India on account of alleged overcharging in respect of certain drugs under the Drug Price Control Order. This was contested before the jurisdictional High Courts wherein it was held in favour of the Company. The orders were challenged before the Hon'ble Supreme Court by the Government. The Hon'ble Supreme Court by separate orders restored the matter to the jurisdictional High Court for interpreting the Drug Policy on the basis of directions and principles laid down by them and also restrained the Government from taking any coercive action against the Company. The Company has been legally advised that on the basis of these orders there is no probability of demand crystallising. Hence no provision is considered necessary in respect of notice of demand aggregating to Rs.1230.28 crores (inclusive of interest) for the period July 1995 to April 2009.
-
The figures of the previous year have been regrouped/recast to render them comparable with the figures of the current year.
-
*Tax expense is inclusive of current tax, deferred tax and Minimum Alternate Tax (MAT) credit.
-
The above results after being reviewed by the Audit Committee were approved at the meeting of the Board of Directors held on 5 th May, 2011.
|
| Quarter
Ended |
| 31.03.2011 |
31.03.2010 |
%change |
31.03.2011 |
31.03.2010 |
%change |
| Domestic |
652.23 |
568.78 |
14.7% |
2817.76 |
2511.10
|
12.2% |
| Exports |
|
|
|
|
|
|
| Formulations |
742.75 |
613.93 |
21.0% |
2675.56 |
2320.49 |
15.3% |
| APIs & others |
232.20 |
146.30 |
58.7% |
679.23 |
580.09 |
17.1% |
| Total Exports |
974.95 |
760.23 |
28.2% |
3354.79 |
2900.58 |
15.7% |
| % of exports to total sales |
59.9% |
57.2% |
|
54.4% |
53.6% |
|
| |
|
|
|
|
|
|
| Total Sales |
1627.18 |
1329.01 |
22.4% |
6172.55 |
5411.68 |
14.1% |
| |
|
|
|
|
|
|
| Other operating income |
|
|
|
|
|
|
| Technology
knowhow/fees |
20.71 |
13.55 |
|
63.70 |
153.76 |
|
| Others |
33.27 |
43.65 |
|
130.44 |
111.63 |
|
| Total |
53.98 |
57.20 |
-5.6% |
194.14 |
265.39 |
-26.8% |
| Income from
Operations |
1681.16 |
1386.21 |
21.3% |
6366.69 |
5677.07 |
12.1% |
| |
|
|
|
|
|
|
| Material
Cost |
799.80 |
610.82 |
|
2914.57 |
2470.58 |
|
| % to total sales |
49.2% |
46.0% |
|
47.2% |
45.7% |
|
| |
|
|
|
|
|
|
| Operating
margin |
302.11 |
257.99 |
17.1% |
1337.45 |
1353.16 |
-1.2% |
| % to income
from operations |
18.0% |
18.6% |
|
21.0% |
23.8% |
|
| |
|
|
|
|
|
|
| Profit
before tax |
251.01 |
253.13 |
-0.8% |
1158.12 |
1229.99 |
-5.8% |
| % to income
from operations |
14.9% |
18.3% |
|
18.2% |
21.7% |
|
| |
|
|
|
|
|
|
| Profit
after tax |
214.01 |
275.53 |
-22.3% |
967.12 |
1081.49 |
-10.6% |
| % to income
from operations |
12.7% |
19.9% |
|
15.2% |
19.1% |
|
During the year 2010-11, the Company posted a growth of 12% in income from operations and profits after tax were about 15% of overall revenues. During the fourth quarter, the company posted a growth of more than 21% in income from operations. Operating margins (as a percent to income from operations) are lower on a year-on-year basis due to change in product mix resulting in increase in material cost by 3% and negative contribution of Indore SEZ because of optimization. Profits after tax are lower by about 22% primarily on account of one-time exceptional income (Rs. 95 cr) in fourth quarter FY0910 and increased factory overheads at Indore SEZ.
During the quarter, domestic sales grew by about 15% and export sales grew by more than 28%. Other operating income for the quarter was lower by about Rs. 3 cr.
Material cost has increased by about 3% on year-on-year basis due to changes in product mix primarily due to higher proportion of anti-retrovirals in formulation exports. The increase in staff cost (Rs. 30 cr) is due to increase in manpower particularly at Indore SEZ and annual increments. Depreciation has increased by about Rs. 20 cr due to additions to fixed assets mainly on account of commissioning of Indore SEZ factory. Other expenditure has increased mainly due to increase in selling expenses and factory expenditure, in particular at Indore SEZ, such as repairs & maintenance, power & fuel, stores & spares, etc. The increase in selling expenses is in line with the increase in export turnover.
|
