| Unaudited Quarterly Results for the Quarter & Half year ended
September 30, 2006 |
| |
Three months ended
(Unaudited) |
Six months ended
(Unaudited) |
Year ended
(Unaudited) |
Particulars |
30.09.2006 |
30.09.2006 |
30.09.2006 |
30.09.2005 |
31.03.2006 |
| Net Sales/Income from Operations |
4800.0 |
3194.8 |
9185.6 |
6001.4 |
14722.0 |
| Other Income |
267.0 |
76.2 |
438.1 |
112.0 |
303.5 |
| Total Income |
5067.0 |
3271.0 |
9623.7 |
6113.4 |
15025.5 |
| Expenditure |
|
|
|
|
|
| a. (Increase) / Decrease in Stock in Trade |
84.4 |
(14.6) |
(361) |
(139.1) |
-275.3 |
| b. Consumption of Raw Materials |
2541.7 |
2017.9 |
5462.9 |
3831.8 |
9026.8 |
| c. Staff Cost |
288.1 |
186.8 |
546.1 |
369.7 |
792.2 |
| d. Other Expenditure |
1194.9 |
789.9 |
2187.6 |
1493.7 |
3435.2 |
| Total expenditure |
4109.1 |
2980.0 |
7835.9 |
5556.1 |
12978.9 |
| Profit Before Depreciation, Interest & Tax |
957.9 |
291.0 |
1787.8 |
557.3 |
2046.6 |
| Interest |
202.4 |
141.3 |
383.3 |
275.7 |
606.4 |
| Depreciation |
149.9 |
124.5 |
292.7 |
243.2 |
511.2 |
| Profit before taxation |
605.6 |
25.2 |
1111.8 |
38.4 |
929.0 |
| Provision for Taxation |
|
|
|
|
|
| a. Current Tax (MAT Provision) |
60.5 |
3.2 |
118.6 |
4.9 |
90.1 |
| b. MAT Credit Entitlement |
(13.7) |
- |
(65.9) |
- |
-80.9 |
| c. Deferred Tax |
11.5 |
(15.1) |
148.9 |
(24.3) |
158.8 |
| d. Fringe Benefit
Tax |
0.9 |
0.6 |
1.7 |
1.2 |
2.8 |
|
e.
Tax adjustments of previous years |
0.0 |
0.1 |
0 |
0.1 |
64.5 |
| Total Tax |
59.2 |
(11.2) |
203.3 |
(18.1) |
235.3 |
| Net Profit |
546.4 |
36.4 |
908.5 |
56.5 |
693.7 |
| Paid-up Equity Share Capital |
266.47 |
266.35 |
266.47 |
266.35 |
266.35 |
| (Face value Rs. 5 per share) |
|
|
|
|
|
| Reserves excluding Revaluation Reserves |
|
|
- |
- |
8787.8 |
| Basic Earnings per
share (Rs.) (not annualised) |
10.25 |
0.69 |
17.05 |
1.09 |
13.22 |
| Diluted Earnings per
share (Rs.) (not annualised) |
7.99 |
0.66 |
13.80 |
1.06 |
12.46 |
| Aggregate of Non-promoters Shareholding |
|
|
|
|
|
| a. Number of Shares |
|
|
23751179 |
23546156 |
23557656 |
| b. Percentage of Shareholding |
|
|
44.57 |
44.20 |
44.22 |
|
| Notes: |
| 1. |
The above unaudited results which are subject to limited review by the Auditors of the Company, were reviewed by the Audit Committee and have been taken on record by the Board at its meeting held on 30.10.2006. |
|
2. |
Sales for the quarter
include exports of Rs.2801.7 millions (Rs.1506.2 millions). |
|
3. |
The Company's operations
fall within a single primary business segment viz
'Pharmaceutical Products'. |
|
4. |
Investor complaints
pending at the beginning of the quarter: Nil,
received: 218, resolved: 218 and lying un-resolved at the
end of the quarter: Nil. |
| 5. |
During the quarter the
Company allotted 24,661 equity shares of Rs.5 each at Rs.
362.60 per share under Employees Stock Option Plan, 2004.
Hence, the paid up capital stands increased to Rs.266.4.73
millions divided into 53.295 millions (53.270 millions)
shares of Rs.5 each. |
|
6. |
Premium on redemption of
USD 260 Million zero coupon Foreign Currency Convertible
Bonds is contingent in nature, the outcome of which is
dependant on uncertain future events. |
| 7. |
With regard to addressing
the qualifications of audited accounts for the year ended
March 31, 2006 in the Quarterly results (a) on treatment of
non-compete fee adjusted against the capital reserve, it is
to explain that the issue has no impact either on the
profit of March 31, 2006 or on any of the quarterly
results of the current year and (b) on non-provision for
diminnution in value of certain investments made in
overseas subsidiaries, it is to explain that the Company
has made strategic investments in manufacturing overseas
subsidiaries for vertical integration.Considering nature of
industry and gestation period involved, in the opinion of
management, the diminution is of temporary nature and does
not require any provision. |
| 8. |
The Company has acquired
during the quarter a US FDA compliant cGMP facility in
Dayton, New Jersey, which has fully integrated state of the
art R&D, formulation manufacturing and distribution
facilities with potential for future expansion. |
| 9. |
The formulation
manufacturing facility situated at Bachupally village, Ranga
Reddy District, (Unit III) is converted in to 100% Export
Oriented Undertaking with effect from July 1, 2006. |
| 10. |
Figures for the previous
periods have been rearranged/regrouped wherever necessary. |
|
|
|
For and on behalf of the Board |
|
|
Sd/- |
| Place: Hyderabad |
|
K.Nityananda Reddy |
| Date : October 30,
2006 |
|
Managing Director |
|
