| AUDITED
FINANCIAL RESULTS FOR THE YEAR ENDED 31st DECEMBER, 2006 |
Rs. in Lacs |
| PARTICULARS |
NINE MONTH
ENDED
30TH SEPTEMBER
2006 |
QUARTER
ENDED
31ST
DECEMBER |
YEAR
ENDED
31ST
DECEMBER |
| |
|
2006 |
2005 |
2006
(AUDITED) |
2005
(AUDITED) |
| Sales and Operating Income |
53,521 |
24,053 |
22,101 |
77,574 |
70,794 |
| Other Income |
1,487 |
1,786 |
645 |
3,273 |
2,694 |
| Total Income |
55,008 |
25,839 |
22,746 |
80,847 |
73,488 |
| Expenditure
|
| a)(Increase)/Decrease in Stock |
(3,653) |
3,435 |
2,881 |
(218) |
637 |
| (b) Consumption of Raw Materials |
23,212 |
7,907 |
7,717 |
31,119 |
31,860 |
| (c) Cost of Traded Goods sold |
10,162 |
3,991 |
2,493 |
14,153 |
5,102 |
| (d) Staff Cost |
5,043 |
1,696 |
1,376 |
6,739 |
5,743 |
| (e) Other Expenses |
12,166 |
4,218 |
4,835 |
16,384 |
18,984 |
Total Expenditure |
46,930 |
21,247 |
19,302 |
68,177 |
62,326 |
| Interest |
605 |
249 |
222 |
854 |
744 |
| Depreciation / Amortisation |
1,631 |
555 |
577 |
2,186 |
2,258 |
| Impairment loss on Fixed assets |
- |
683 |
- |
683 |
- |
PROFIT FOR THE PERIOD, EXTRA -
ORDINARY ITEMS AND TAXATION |
5,842 |
3,105 |
2,645 |
8,947 |
8,160 |
Less: Exceptional Item
(Voluntary Retirement Expenditure) |
- |
(42) |
- |
(42) |
(691) |
| PROFIT FOR THE PERIOD BEFORE TAXATION |
5,842 |
3,063 |
2,645 |
8,905 |
7,469 |
| Less: Provision For Taxation incl. Deferred Tax and Fringe
Benefit Tax |
(2134) |
(1086) |
(1890) |
(3220) |
(3754) |
| PROFIT FOR THE PERIOD AFTER TAXATION |
3,708 |
1,977 |
755 |
5,685 |
3,715 |
| Paid up Equity Share Capital |
3,950 |
3,950 |
3,950 |
3,950 |
3,950 |
Reserves & Surplus
(excluding Revaluation Reserve) |
|
|
|
29,193 |
24,617 |
| Number of Equity Shares (Face value Rs.10) |
39,498,747 |
39,498,747 |
39,498,747 |
39,498,747 |
39,498,747 |
| Earnings Per Share (basic and diluted) [(excluding
Exceptional Item (Net of Tax)] |
9.39 |
5.08 |
1.91 |
14.47 |
10.57 |
| |
| Earnings Per Share (basic and diluted) [(including Exceptional
Item (Net of Tax)] |
9.39 |
5.00 |
1.91 |
14.39 |
9.40 |
Aggregate of non-promoters
shareholdings |
- |
- |
- |
- |
- |
| Number of shares |
11,412,085 |
11,412,085 |
11,412,085 |
11,412,085 |
11,412,085 |
| Percentage of shareholding (%) |
28.89 |
28.89 |
28.89 |
28.89 |
28.89 |
Notes:
1.The above results have been reviewed and recommended by the Audit
Committee and approved by the Board of Directors at its meeting held
on 26th March, 2007.
2. The Board of Directors has recommended a dividend of 24% for the
year ended 31st December, 2006 (Previous Year 22%) amounting to Rs.
948 Lacs.
Dividend per share is Rs. 2.40 for 39,498,747 Equity shares of Rs. 10
each.
3.During the year the Company has announced planned cessation of manufacturing
and related activities at the Thane plant in the course of year 2007.
It is clarified that cessation of manufacturing and related activities
is not a closure of the Company's undertaking. The Company has provided
Rs. 683 lacs as impairment loss on the Buildings utilised to manufacture
Healthcare products.
4. Pursuant to the change in the Object Clause of the Memorandum of
Association of the Company, the Company had entered into a Distribution
Agreement with Bayer BioScience Private Limited (BBSPL) [formerly Proagro
Seed Company Private Limited] and Hybrid Rice International Private
Limited (HRI) to store, promote, sell and distribute varieties of seeds
developed, produced, manufactured or imported by BBSPL and HRI.
5. Other income includes interim dividend received from Bayer Diagnostics
India Limited amounting to Rs. 279 lacs and sale of Intellectual Property
Rights to United Phosphorous Limited of its ODM (Oxedemeton-methyl)
business amounting to Rs. 795 lacs.
6. The Company has only one reportable business segment, i.e. “Agri-Care”.
7. The status of Investor complaints received and disposed off during
the quarter ended 31st December, 2006 is as follows:
| Complaints pending at the beginning of the quarter |
1 |
| Complaints received during the quarter |
0 |
| Complaints attended during the quarter |
1 |
| Complaints lying unresolved at the end of the quarter |
0 |
8. (Increase)/ Decrease in stock/consumption
of raw materials/cost of traded goods sold for the year ended 31st December,
2006 together includes Rs. 793 Lacs on account of write-offs/write-downs
in the carrying values of inventory. Write-offs/write-downs in the carrying
values of inventory for the year ended 31st December, 2005 was Rs. 494
Lacs.
9. Pending approval has been received from the Central Government of
India towards the appointment of Wholetime Director.
10 . Previous Period’s figures have been regrouped wherever necessary.
| AUDITED
FINANCIAL RESULTS FOR THE YEAR ENDED 31st DECEMBER, 2006 (CONSOLIDATED) |
Rs.
in Lacs |
| PARTICULARS |
NINE MONTH
ENDED
30TH SEPTEMBER
2006 |
QUARTER
ENDED
31ST
DECEMBER |
YEAR
ENDED
31ST
DECEMBER |
| |
|
2006 |
2005 |
2006
(AUDITED) |
2005
(AUDITED) |
| Sales (Net of Excise Duty) and Other
Operating Income |
54,149 |
24,243 |
22,252 |
78,392 |
71,498 |
| Other Income |
1,512 |
1,797 |
651 |
3,309 |
2,719 |
| Total Income |
55,661 |
26,040 |
22,903 |
81,701 |
74,217 |
| Expenditure
|
| a)(Increase)/Decrease in Stock |
(3,638) |
3,430 |
2,830 |
(208) |
610 |
| (b) Consumption of Raw Materials |
23,555 |
8,010 |
7,837 |
31,565 |
32,299 |
| (c) Cost of Traded Goods sold |
10,182 |
3,994 |
2,498 |
14,176 |
5,135 |
| (d) Staff Cost |
5,190 |
1,749 |
1,409 |
6.939 |
5,919 |
| (e) Other Expenditure |
12,058 |
4,226 |
4,810 |
16,284 |
18,805 |
Total Expenditure |
47,347 |
21,409 |
19,384 |
68,756 |
62,768 |
| Interest |
623 |
254 |
226 |
877 |
759 |
| Depreciation / Amortisation |
1,685 |
573 |
594 |
2,258 |
2,330 |
| Impairment loss on Fixed assets |
- |
1079 |
- |
1079 |
- |
| PROFIT FOR THE PERIOD BEFORE EXCEPTIONAL
ITEM AND TAXATION |
6,006 |
2,725 |
2,699 |
8,731 |
8,360 |
Less Exceptional Item
(Voluntary Retirement Expenditure) |
- |
(42) |
- |
(42) |
(691) |
| PROFIT FOR THE PERIOD BEFORE TAXATION |
6,006 |
2,683 |
2,699 |
8,689 |
7,669 |
| Less: Provision For Taxation incl.
Deferred Tax and Fringe Benefit Tax |
(2,192) |
(956) |
(1,920) |
(3,148) |
(3,834) |
| PROFIT FOR THE PERIOD AFTER TAXATION |
3,814 |
1,727 |
779 |
5,541 |
3,835 |
| Paid up Equity Share Capital |
3,950 |
3,950 |
3,950 |
3,950 |
3,950 |
| Reserves & Surplus |
|
|
|
29,429 |
|
| Weighted Average Number of Equity Shares |
39,498,747 |
39,498,747 |
39,498,747 |
39,498,747 |
39,498,747 |
| Earnings Per Share (basic and diluted) [(excluding
Exceptional Item (Net of Tax)] |
9.66 |
4.44 |
1.97 |
14.10 |
10.87 |
| |
| Earnings Per Share (basic and diluted) [(including
Exceptional Item (Net of Tax)] |
9.66 |
4.37 |
1.97 |
14.03 |
9.71 |
Aggregate of non-promoters
shareholdings |
- |
- |
- |
- |
- |
| Number of shares |
11,412,085 |
11,412,085 |
11,412,085 |
11,412,085 |
11,412,085 |
| Percentage of shareholding (%) |
28.89 |
28.89 |
28.89 |
28.89 |
28.89 |
|
|
Place: Mumbai
Date: 26th March, 2007.
|
|
By Order of the Board
Copyright © Bayer CropScience Ltd.
Christiane Kunze
Director
|
|
|
