Unaudited Financial results for the quarter and half year ended 30th Sep 2013

Unaudited Financial results for the quarter and half year ended 30th Sep 2013

Pricol Limited

Regd. Office: Cpm Towers, 109, Race Course, Coimbatore – 641 018.

Unaudited Financial Results For The Quarter And Half Year Ended 30th September, 2013

(in Lakhs)

Particulars
Standalone Financials
For the Three Months Ended For the Six Months Ended For the year Ended
30-Sep-2013
30-Jun-2013
30-Sep-2012
30-Sep-2013 30-Sep-2012
31-Mar-2013
1. Income from Operations
Unaudited
Audited
   (a)  Net Sales / Income from operations (Net of excise duty)
20812.51
19766.35
20021.46
+40578.86
41907.06
82825.96
   (b) Other Operating Income
1181.98
1044.69
1027.46
2226.67
2149.21
4563.47
   Total Income from Operations (net)  [ a + b ]
21994.49
20811.04
21048.92
42805.53
44056.27
87389.43
2. Expenses
    (a) Cost of Materials Consumed
13508.85
13208.51
13119.18
26717.36
27744.21
54478.52
    (b) (Increase) / Decrease  in inventories of finished goods
210.47
(96.20)
211.66
114.27
(3.11)
541.79
    (c) (Increase) / Decrease  in inventories of Work in Progress 91.19
( 45.76)
76.91
45.43
18.29
194.61
    (d) Purchases of stock-in-trade
1080.86
974.67
978.40
2055.53
2037.91
4351.82
    (e) Employee Benefits Expense
3281.79
3104.16
3183.93
6385.95
6404.00
12787.35
    (f) Depreciation and amortisation expense
875.66
809.58
819.56
1685.24
1524.54
3195.01
    (g) Exchange Fluctuation (Gain) / Loss
165.02
( 19.63)
(150.52)
*145.39
363.34
380.17
    (h) Other Expenses
2261.99
2222.52
2259.53
4484.51
4654.52
8611.52
     Total Expenses
21475.83
20157.85
20498.65
41633.68
42743.70
84540.79
3. Profit / (Loss) from Operations before Other Income, finance costs and
      Exceptional Items [ 1 – 2 ]
518.66
653.19
550.27
1171.85 1312.57
2848.64
4. Other Income
     (a) Profit / (Loss) on Sale of Assets
33.73
13.41
( 16.09)
47.14
(13.65)
51.15
     (b) Others
39.84
33.35
17.88
73.19
63.71
100.45
5. Profit / (Loss) from ordinary activities before finance costs and
    exceptional items [ 3 + 4 ]
592.23
699.95
552.06
1292.18
1362.63
3000.24
6. Finance Costs
130.26
176.73
451.78
306.99
879.72
1633.07
7. Profit / (Loss) from ordinary activities after finance costs but before
    exceptional items [ 5 – 6 ]
461.97
523.22
100.28
985.19
482.91
1367.17
8. Exceptional Items – Income – Net
         5163.34
5163.34
9. Profit / (Loss) from Ordinary Activities before Tax [ 7 + 8 ]
461.97
5686.56
100.28
6148.53
482.91
1367.17
10.Tax Expense  – Net
103.59
1269.99
15.00
1373.58
60.00
(206.87)
11. Net Profit / (Loss) from Ordinary Activities After Tax [ 9 -10 ]
358.38
4416.57
85.28
4774.95
422.91
1574.04
12. Extraordinary Item  – (Net of Tax Expense)
13. Net Profit / (Loss) for the period [ 11- 12 ]
358.38
4416.57
85.28
4774.95
422.91
1574.04
14. Paid-up-Equity Share Capital (Face Value of 1/- each)
945.00
945.00
900.00
945.00
900.00
            900.00
15. Reserves excluding Revaluation Reserves as per balance sheet
      of previous accounting year
24552.75
16.  Earnings per share (of ` 1/- each) (not annualised) :
        (a) Basic [16 / 17]
0.38
4.86
0.09
5.15
0.47
1.75
        (b) Diluted
0.38
4.86
0.09
5.15
0.45
1.67
SELECT INFORMATION FOR THE QUARTER ENDED 30TH JUNE, 2013
A. PARTICULARS OF SHAREHOLDING
(1)  Public share holding  : Number of Shares
5,79,96,054
5,34,96,054
5,79,06,054
5,34,96,054
Percentage of share holding
61.37
59.44
64.34
59.44
(2)  Promoters and Promoter group share holding
    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)
     b) Non-encumbered
        – Number of Shares
3,65,03,946
3,65,03,946
3,20,93,946
3,65,03,946
3,20,93,946
3,65,03,946
        – Percentage of shares (as a% of the total shareholding of promoter
           and promoter group)
100.00
100.00
100.00
100.00
100.00
100.00
       – Percentage of shares (as a % of the total share capital of the company)
38.63
38.63
35.66
38.63
35.66
40.56
B. INVESTOR COMPLAINTS
     Pending at the beginning of the quarter
2
     Received during the quarter
9
     Disposed off during the quarter
11
     Remaining unresolved at the end of the quarter
Nil
Statement of Assets and Liabilities
As at 30.09.2013 As at 30.09.2012
Particulars
A. EQUITY AND LIABILITIES
1. Shareholder’s funds
a) Share Capital 945.00 900.00
b) Reservesand Surplus 29650.46 23822.80
c) Money received against share warrants 202.50
2. Non Current Liabilities
(a) Long-term borrowings 3973.49
(b) Deferred tax liabilities (net) 500.00 570.00
(c) Long term provisions 326.23 326.23
3. Current Liabilities
(a) Short-term borrowings 6129.64 4605.24
(b) Trade payables 13591.44 17507.21
(c) Other current liabilities 4732.02 7643.45
(d) Short-term provisions 772.58 1145.55
TOTAL – EQUITY AND LIABILITIES 56647.37 60696.47
B.ASSETS
1.Non-current assets
(a) Fixed Assets 18026.75 18513.55
(b) Non-current investments 4365.50 3588.77
(c) Long-term loans and advances 507.40 297.85
(d) Other non-current assets 5820.83 4830.63
2.Current Assets
(a)Inventories 8917.11 11856.64
(b) Trade Receivables 16247.51 17651.76
(c) Cash and cash equivalents 241.86 474.45
(d) Short-term loans and advances 2461.00 2148.79
(e) Other current assets 59.41 108.96
TOTAL – ASSETS 56647.37 60696.47
Notes:
1.Previous Period’s figures have been regrouped wherever necessary to conform to the current period’s classification.
2. The Company’s Operations relate to one primary segment, Automotive Components.
3. The above results have been reviewed by the Audit Committee and taken on record by the Board at its meeting held on 8th November, 2013. The Statutory Auditors have carried out a “Limited Review” of the above financial results.
*4. Exchange Fluctuation for the half year ended 30th September, 2013 represents notional Loss of ` 179.98 lakhs consequent to re-statement of import payables and export receivables as per Accounting Standard 11 and Gain ` 34.59 lakhs consequent to actual settlements (Net amount of Rs. 145.39 lakhs).
*5. Net Sales of ` 40578.86 lakhs for the half year ended 30th September 2013 does not include sales relating to business transferred to Denso Pricol India Limited (a Joint Venture), effective April. 2013. The sales performance for the six months ended 30th September, 2013 is 4.51% over comparable figure of the corresponding period in the previous year.
Coimbatore

By Order of the Board

8th November, 2013

VIKRAM MOHAN

Managing Director