Unaudited Financial Results for the Quarter and Half Year Ended 30th September 2011

Unaudited Financial Results for the Quarter and Half Year Ended 30th September 2011

Pricol Limited
Regd. Office: 702 / 7 Avanashi Road, Coimbatore
– 641 037
UNAUDITED FINANCIAL RESULTS FOR THE QUARTERAND HALFYEAR ENDED 30TH SEPTEMBER 2011

(in Lakhs)

Particulars For the Three Months Ended For the Six Months Ended For the Year Ended
30.09.2011 30.09.2010 30.09.2011 30.09.2010 31.03.2011
Unaudited Unaudited Audited
(a) Net Sales / Income from operations 24007.21 20099.80 45364.21 39098.30 81409.42
(b) Other Operating Income 60.43 37.84 93.69 88.47 150.14
(c) Total Income (a+b) 24067.64 20137.64 45457.90 39186.77 81559.56
(d) Expenditure
(1) (Increase) / Decrease inStock in Trade (423.37) (89.65) (728.83) (299.66) 504.24
(2) (Increase) / Decrease in Work in Progress (117.52) (229.62) 225.25 (472.45) (290.90)
(3) Consumption of RawMaterials & Components 16656.29 13636.73 30725.34 26271.66 54551.64
(4) Employees Cost 3367.95 2911.53 6422.48 5441.13 11322.26
(5) Depreciation 717.17 853.22 1463.76 1716.91 3370.40
(6) Exchange Fluctuation (Gain) / Loss (83.09) (10.99) (73.52) 140.88 247.38
(7) Other Expenditure 2968.17 2111.78 5307.45 3962.82 8082.49
(8) Cost of In-house manufacturedMachines & Tools Capitalised (176.02) (115.35) (268.34) (243.03) (544.87)
Total Expenditure 22909.58 19067.65 43073.59 36518.26 77242.64
(e) Profit / (Loss) from Operations before Other Income, Interest & Exceptional Items [ c – d ] 1158.06 1,069.99 2384.31 2668.51 4316.92
(f) Other Income
1. Profit / Loss on Sale of Assets 1.83 169.30 12.86 336.18 444.03
2. Others 13.33 32.46 34.43 51.41 127.44
(g) Profit / (Loss) before Interest and Exceptional items [ e + f ] 1173.22 1271.75 2431.60 3056.10 4888.39
(h) Interest 804.63 693.44 1530.73 1371.59 2731.16
(i) Profit / (Loss) after Interest but before Exceptional items [ g – h ] 368.59 578.31 900.87 1,684.51 2157.23
(j) Exceptional Items
(k) Profit / (Loss) from Ordinary Activities before Tax [ i + j ] 368.59 578.31 900.87 1,684.51 2157.23
(l)Tax Expense – Net 30.00 (5.08) 130.00 170.39 (154.25)
(m) Net Profit / (Loss) from Ordinary Activities After Tax [k – l] 338.59 583.39 770.87 1,514.12 2311.48
(n) Extraordinary Item (Net of Tax Expense)
(o) Net Profit / (Loss) for the period [m-n] 338.59 583.39 770.87 1,514.12 2311.48
(p) Paid-up-Equity Share Capital(Face Value of 1/- each) 900.00 900.00 900.00 900.00 900.00
(q) Reserves excluding revaluation reserves of previous accounting year 18595.09
(r) Basic and diluted Earnings Per Share(not annualised) [o/p] 0.38 0.65 0.86 1.68 2.57
(s) Public share holding :
1.Number of Shares 57,906,054 57,756,535 57,906,054 57,756,535 57,906,054
2. Percentage of share holding 64.34 64.17 64.34 64.17 64.34
(t) Promoters and Promoter group share holding
a) Pledged / Encumbered
– Number of Shares 25,000 25,000
– Percentage of shares (as a % of the total shareholding of promoter and promoter group) 0.08 0.08
– Percentage of shares (as a % of the total share capital of the company) 0.03 0.03
b) Non-encumbered
– Number of Shares 32,093,946 32,218,465 32,093,946 32,218,465 32,093,946
– Percentage of shares (as a % of the total shareholding of promoter and promotor group) 100.00 99.92 100.00 99.92 100.00
– Percentage of shares (as a % of the total share capital of the company) 35.66 35.80 35.66 35.80 35.66
Statement of Assets and Liabilities
Particulars As at 30th Sep, 2011 Unaudited As at 30th Sep, 2010 Unaudited
(1) Share Holder’s funds
a)Share Capital 900.00 900.00
b)Reserves & Surplus 19365.96 18425.33
(2) Loan Funds 20889.63 23633.84
Total 41155.59 42959.17
(3) Fixed Assets 20851.96 22626.57
(4) Investments 2529.07 2524.07
(5) Deferred Tax Asset / (Liability) (200.00) (70.00)
(6) Current Assets, Loans and Advances
a) Inventories 15910.22 15519.90
b) Sundry Debtors 22628.22 18956.06
c) Cash and Bank Balances 1161.34 1305.73
d) Loans and Advances 5662.61 8107.07
7) Less : Current Liabilities and Provisions
a) Current Liabilities 26217.52 21765.69
b) Provisions 1170.31 4244.54
8) Net Current Assets 17974.56 17878.53
Total 41155.59 42959.17
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. Investors’ Complaints: Pending as at the beginning of the quarter – Nil, Received during the quarter – 12, Disposed off during the quarter – 12, Pending at the end of the quarter – Nil.
4. The above results have been reviewed by the Audit Committee and taken on record by the Board at its meeting held on 7th November, 2011. The Statutory Auditors have carried out a “Limited Review” of the above financial results.
5. Exchange Fluctuation Loss for the Half year ended 30th September, 2011 represents Gain of 167.66 lakhs consequent to re-statement of foreign currency loans and export receivables as per Accounting Standard 11 and Loss 94.14 lakhs consequent to actual settlements.
Coimbatore
By Order of the Board
7th November, 2011
VIJAY MOHAN
Chairman