Bayer
CropScience Limited
UNAUDITED
FINANCIAL RESULTS FOR THE PERIOD ENDED 30TH JUNE, 2005
|
| Rs. in Lacs |
| PARTICULARS |
QUARTER ENDED |
SIX MONTHS ENDED |
YEAR ENDED |
| |
30TH JUNE
|
30TH
JUNE |
31ST
DECEMBER,
2004
(AUDITED) |
| 2005 |
2004 |
2005 |
2004 |
| Sales and Other Operating Income |
14,405
|
13,240
|
26,885
|
23,954
|
73,770
|
| Other Income |
404
|
881
|
650
|
1,015
|
2,617
|
| Total Income |
14,809
|
14,121
|
27,535
|
24,969
|
76,387
|
| Total Expenditure
|
| (a) Decrease/(Increase) in Stock |
(3,751)
|
(2,462)
|
(1,966)
|
(3,603)
|
(1,636)
|
| (b) Consumption of Raw Materials |
9,623
|
7,620
|
14,092
|
12,856
|
31,546
|
| (c) Cost of Traded Goods sold |
158
|
406
|
256
|
1,139
|
6,337
|
| (d) Staff Cost |
1,480
|
1,621
|
2,867
|
3,224
|
6,524
|
| (e) Other Expenditure (Net of recoveries) |
4,971
|
4,907
|
9,305
|
8,532
|
24,765
|
Total
Expenditure
|
12,481
|
12,092
|
24,554
|
22,148
|
67,536
|
| Interest |
176
|
205
|
355
|
540
|
1,116
|
| Depreciation |
556
|
625
|
1,102
|
1,262
|
2,602
|
PROFIT FOR THE PERIOD BEFORE PRIOR PERIOD
AND EXCEPTIONAL ITEMS
|
1,596
|
1,199
|
1,524
|
1,019
|
5,133
|
Add : Prior Period Income (Net)
|
-
|
-
|
- |
83
|
187
|
Less: Exceptional Items
|
(691)
|
-
|
(691)
|
(45)
|
(80)
|
PROFIT FOR THE PERIOD BEFORE TAXATION
|
905
|
1,199
|
833
|
1,057
|
5,240
|
Less :Provision For Taxation (including Deferred Tax & Fringe Benefit
Tax)
|
(390)
|
(374)
|
(474)
|
(398)
|
(2,604)
|
PROFIT FOR THE PERIOD AFTER TAXATION
|
515
|
825
|
359
|
659
|
2,636
|
Paid up Equity Share Capital (Face Value Rs. 10)
|
3,950
|
3,950
|
3,950
|
3,950
|
3,950
|
Reserves and Surplus(excluding Revaluation Reserve)
|
- |
- |
- |
- |
21,893
|
Number of Equity Shares
|
39,498,747
|
39,498,747
|
39,498,747
|
39,498,747
|
39,498,747
|
Earning Per Share (basic & diluted)
[excluding prior period and exceptional items (net of tax)]
|
2.46
|
2.09
|
2.07
|
1.53
|
6.48
|
Earning Per Share (basic & diluted)
[including prior period and exceptional items (net of tax)]
|
1.30
|
2.09
|
0.91
|
1.67
|
6.67
|
| .- |
| Aggregate of non-promoters shareholdings..
|
| Number of shares |
11,412,085
|
11,412,032
|
11,412,085
|
11,412,032
|
11,412,032
|
| Percentage of shareholding (%) |
28.89%
|
28.89%
|
28.89%
|
28.89%
|
28.89%
|
Notes:
1. The above results have been taken on record by the Board of Directors
of the Company at its meeting held on 28th July, 2005.
2. The statutory auditors have carried out a limited review of the results
for the period ended 30th June, 2005.
3. During the quarter, 52 employees opted for the voluntary retirement
under a scheme introduced by the Company and the costs under the said
scheme aggregates Rs. 691 lacs.
4. The status of matters commented upon by the auditors for the year
ended December 31, 2004 is given below:
a. Approval has been received from the Central Government under Section
297 of the Companies Act, 1956, in respect of transactions aggregating
Rs. 500.41 lacs entered into with a private limted company in which
two directors of the company were common directors.
b. Approval is awaited from the Central Government in respect of excess
remuneration aggregating Rs. 30.31 lacs paid to the directors in the
year 2000.
5. Sales for the half year ended 30th June, 2005 are net of estimated
returns of Rs. 3,977 lacs (Jan-June 2004 - Rs. 2,876 lacs), in respect
of seasonal sales which, in the Managements' opinion, may need to be
reviewed, dependent on future circumstances. Consequently, the profit
for the period is lower by Rs. 962 lacs (Jan-June 2004 - Rs. 1,222 lacs).
Sales and profits for the quarter April - June 2005 is lower by Rs.
2,803 lacs (April-June 2004 - Rs. 2,876 lacs) and Rs. 670 lacs (April-June
2004 - Rs. 1,222 lacs) respectively.
6. The Company has only one reportable business segment, i.e. "Pesticides"
7. The status of Investor complaints received and disposed off during
the quarter ended 30th June ,2005 is:
Complaints pending at the beginning of the quarter : 0
Complaints received during the quarter : 2
Complaints attended during the quarter : 1
Complaints lying unresolved at the end of the quarter : 1 (since resolved)
8. Provision for taxation (including Deferred Tax & Fringe Benefit
Tax) for the half year ended June 30, 2005 includes tax charge pertaining
to prior period Rs. 51 lacs and Rs. 48 lacs on account of revaluation
of deferred assets consequent to reduction in tax rates.
9. Provision for taxation includes Fringe Benefit Tax of Rs. 54 lacs
in respect of the period commencing April 2005.
10. Decrease/(Increase) in stock/ Consumption of raw materials/ cost
of traded goods sold during the period January to June 2004 together
includes Rs. 706 lacs on account of write-offs/ write downs in carrying
values of inventory. Write-offs/ write-downs during the current period
January to June 2005 are Rs. 367 lacs.
11. Previous period's figures have been regrouped wherever necessary.
|
Place: Mumbai
Date: 28th July, 2005
|
By Order of the Board
J. Frick
Director
|
|
