|
THE ZANDU
PHARMACEUTICAL WORKS LTD. |
|
|
|
|
|
||
|
Regd. Office : 70, |
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL
RESULTS (PROVISIONAL) FOR THE PERIOD |
|
|
|
|
|||
|
ENDED 31st DECEMBER, 2006 |
|
|
|
(Figures
Rupees .in Lakhs) |
|
||
|
|
Quarter ended |
Quarter ended |
Period ended |
Period ended |
Year ended |
|
|
|
|
31st December, 2006 |
31st December, 2005 |
31st December, 2006 |
31st December, 2005 |
31st Marchr,
2006 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(audited) |
|
||
|
Net Sales |
5053.47 |
4432.28 |
11724.67 |
10033.37 |
12966.27 |
|
|
|
Other
Income |
76.88 |
93.13 |
257.49 |
224.57 |
421.26 |
|
|
|
Total
Income |
5130.35 |
4525.41 |
11982.16 |
10257.94 |
13387.53 |
|
|
|
Total
Expenditure |
|
|
|
|
|
|
|
|
a)
(Increase) /decrease in stock in trade. |
(206.23) |
105.24 |
(192.60) |
215.19 |
172.77 |
|
|
|
b)
Consumption of materials. |
2007.50 |
1339.02 |
4015.04 |
2899.67 |
3804.29 |
|
|
|
c) Staff
Cost |
376.82 |
306.11 |
972.95 |
908.74 |
1189.81 |
|
|
|
d)
Advertisement and Sales Promotion |
672.94 |
787.00 |
1531.33 |
1534.62 |
1884.93 |
|
|
|
e) Other
expenditure |
1378.02 |
1317.90 |
3422.10 |
3108.62 |
4191.08 |
|
|
|
Interest |
11.89 |
11.23 |
32.19 |
31.65 |
40.75 |
|
|
|
Depreciation |
77.39 |
90.52 |
231.70 |
253.26 |
347.36 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit
before Tax |
812.02 |
568.39 |
1969.45 |
1306.19 |
1756.54 |
|
|
|
|
|
|
|
|
|
|
|
|
Provision
for Taxation |
|
|
|
|
|
|
|
|
-- Current Tax |
205.00 |
179.55 |
580.00 |
414.05 |
470.00 |
|
|
|
-- Deferred Tax |
-13.44 |
-4.55 |
-0.81 |
10.95 |
43.80 |
|
|
|
-- Fringe Benefit Tax |
13.94 |
8.26 |
33.11 |
23.26 |
30.09 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit
after Tax |
606.52 |
385.13 |
1357.14 |
857.93 |
1212.65 |
|
|
|
|
|
|
|
|
|
|
|
|
Paid-up
equity share capital |
604.80 |
604.80 |
604.80 |
604.80 |
604.80 |
|
|
|
(Face
value Rs.100/-) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserves
excluding revaluation reserves |
|
|
|
|
5614.08 |
|
|
|
(as per
balance sheet) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
& Diluted EPS for the period (Rs) |
100.28 |
63.68 |
224.40 |
141.85 |
150.54 |
|
|
|
Aggregate
of non-promoter Shareholding |
|
|
|
|
|
|
|
|
(a)
Number of Shares |
|
|
|
|
327512 |
|
|
|
(b)
Percentage of Shareholding |
|
|
|
|
54.15% |
|
|
|
|
|
|
|
|
|
|
|
|
Note : |
|
|
|
|
|
|
|
|
1.The above
results were reviewed by Audit Committee and thereafter were taken on record
by the Board of Directors in their meeting |
|
|
|||||
|
held on 23 rd
January,2007. |
|
|
|
|
|
|
|
|
2.The Company
is in pharmaceutical business and considering the organization structure of
the company and its internal financial |
|
|
|||||
|
reporting,the
company has only one reportable segment as per Accounting Standard on Segment
Reporting (AS - 17). |
|
|
|||||
|
3.There were no complaints from investors outstanding at the
beginning of the quarter. The Company has received five complaints from the |
|
||||||
|
investors during
the quarter and all the complaints were disposed off during the quarter. There were no
complaints lying unresolved at |
|
|
|||||
|
the end of the
quarter. |
|
|
|
|
|
|
|
|
4.The
Company has investments aggregating to Rs 14.50 lakhs in the equity shares of Zandu
Chemicals Limited, a company |
|
|
|||||
|
promoted by the Company, and has also
given loans / advances to the said company aggregating to Rs
355.34 lakhs, |
|
|
|||||
|
which are
outstanding as at 31st December, 2006. The investee
company's accumulated losses have exceeded its networth |
|
|
|||||
|
and as informed the said company has as
required by law referred the matter to Board for Industrial and Financial
Reconstruction |
|
|
|||||
|
(BIFR) and the said company was hopeful of
positive outcome.Accordingly,on that basis no
provision was considered necessary |
|
|
|||||
|
by the management towards the diminution
in the value of investments considered temporary and loans and advances |
|
|
|||||
|
considered good
of recovery. This was a matter of qualification by the statutory auditors.During the quarter,on
achieving positive |
|
|
|||||
|
networth ,the
BIFR has discharged the said company from the purview of
SICA,1985.Morever,the said company has become |
|
|
|||||
|
a subsidiary company w.e.f.1 st November,2006,consequent to the Company acquiring the
majority of the shares(93.84%).Also |
|
|
|||||
|
the said company
had excellent orders ,higher turnover and improved profitability. |
|
|
|
|
|||
|
5 At the
last Annual General meeting of the company held on 26 th
December,2006 the shareholder had approved the contribution |
|
|
|||||
|
towards research during year ended 31 st March,2006,exceeding the limits under section
293(1)(e) by Rs.76.19 lacs.This was |
|
|
|||||
|
a matter of
qualification by the statutory auditors. |
|
|
|
|
|
|
|
|
6 The
Accounting Standard-15(Revised 2005)-Employee Benefits,issued
by The Institute of Chartered Accountants of India has |
|
|
|||||
|
become mandatory w.e.f.1 st April,2006.The liabilities in terms of the said
standard are presently being ascertained by the |
|
|
|||||
|
Company and the necessary adjustments in accordance
with said standard,will be
made at the year end. |
|
|
|
||||
|
7.The
Company in their Annual General meeting held on 26 th
December,2006 had unanimously approved the bonus issue of shares |
|
|
|||||
|
in the ratio of 1:3 I.e one new
equity shares for every three existing equity shares held by the members and
had also approved |
|
|
|||||
|
final dividend of Rs.5 /- per equity
share in addition to 2 interim
dividends of Rs.35/- each ,totalling to Rs.70/-per
share already paid, |
|
|
|||||
|
raising the total
dividend for the year to Rs.75/- per share.The
record date for bonus issue was 20 th January,2007. |
|
|
|||||
|
8.Previous period figures
have been regrouped wherever necessary. |
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Zandu
Pharmaceutical Works Ltd. |
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
||||||