Unaudited Financial Results for the Quarter and Nine Months Ended 31st December, 2013

Unaudited Financial Results for the Quarter and Nine Months Ended 31st December, 2013

Pricol Limited

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

Unaudited Financial Results for the Quarter and Nine Months Ended 31st December, 2013

(in Lakhs)

Particulars
For the Three Months Ended For the Nine Months Ended For the year Ended
31-Dec-2013
30-Sep-2013
31-Dec-2012
31-Dec-2013 31-Dec-2012
31-Mar-2013
1. Income from Operations
Unaudited
Audited
   (a)  Net Sales / Income from operations (Net of excise duty)
21066.68
20812.51
19848.43
61645.54
61755.49
82825.96
   (b) Other Operating Income
2713.23
1181.98
1098.88
4939.90
3248.09
4563.47
   Total Income from Operations (net)  [ a + b ]
23779.91
21994.49
20947.31
66585.44
65003.58
87389.43
2. Expenses
    (a) Cost of Materials Consumed
14295.01
13508.85
12816.70
41012.37
40560.91
54478.52
    (b) (Increase) / Decrease  in inventories of finished goods
63.15
210.47
48.73
177.42
45.62
541.79
    (c) (Increase) / Decrease  in inventories of Work in Progress 104.10
91.19
199.62
149.53
217.91
194.61
    (d) Purchases of stock-in-trade
1289.73
1080.86
1078.86
3345.26
3116.77
4351.82
    (e) Employee Benefits Expense
3463.90
3281.79
3224.61
9849.85
9628.61
12787.35
    (f) Depreciation and amortisation expense
860.01
875.66
832.97
2545.25
2357.51
3195.01
    (g) Exchange Fluctuation (Gain) / Loss
(25.48)
165.02
14.22
119.91
377.56
380.17
    (h) Other Expenses
2185.65
2261.99
2135.82
6670.16
6790.34
8611.52
     Total Expenses
22236.07
21475.83
20351.53
63869.75
63095.23
84540.79
3. Profit / (Loss) from Operations before Other Income, finance costs and
      Exceptional Items [ 1 – 2 ]
1543.84
518.66
595.78
2715.69
1908.35
2848.64
4. Other Income
     (a) Profit / (Loss) on Sale of Assets
61.67
33.73
56.46
108.81
42.81
51.15
     (b) Others
48.34
39.84
18.53
121.53
82.24
100.45
5. Profit / (Loss) from ordinary activities before finance costs and
    exceptional items [ 3 + 4 ]
1653.85
592.23
670.77
2946.03
2033.40
3000.24
6. Finance Costs
200.85
130.26
372.57
507.84
1252.29
1633.07
7. Profit / (Loss) from ordinary activities after finance costs but before
    exceptional items [ 5 – 6 ]
1453.00
461.97
298.20
2438.19
781.11
1367.17
8. Exceptional Items – Income – Net
         –
5163.34
9. Profit / (Loss) from Ordinary Activities before Tax [ 7 + 8 ]
1453.00
461.97
298.20
7601.53
781.11
1367.17
10.Tax Expense  – Net
260.00
103.59
30.00
1633.58
90.00
(206.87)
11. Net Profit / (Loss) from Ordinary Activities After Tax [ 9 -10 ]
1193.00
358.38
268.20
5967.95
691.11
1574.04
12. Extraordinary Item  – (Net of Tax Expense)
13. Net Profit / (Loss) for the period [ 11- 12 ]
1193.00
358.38
268.20
5967.95
691.11
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]
1.26
0.38
0.30
6.40
0.77
1.75
        (b) Diluted
1.26
0.38
0.28
6.40
0.73
1.67
SELECT INFORMATION FOR THE QUARTER ENDED 31ST DECEMBER, 2013
A. PARTICULARS OF SHAREHOLDING
(1)  Public share holding  : Number of Shares
5,79,96,054
5,79,96,054
5,79,06,054
5,79,96,054 5,79,06,054
5,34,96,054
Percentage of share holding
61.37
61.37
64.34
61.37 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
Nil
     Received during the quarter
9
     Disposed off during the quarter
9
     Remaining unresolved at the end of the quarter
Nil
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.The Board of Directors at their meeting on 24th January 2014 approved a Scheme for Amalgamation of Xenos Automotive Limited with the Company,
subject to General Body and regulatory approvals. The appointed date for the amalgamation is 1st January 2014.
*5. Exchange Fluctuation for the Nine Months ended 31st December, 2013 represents notional Loss of Rs. 115.44 lakhs consequent to re-statement of
foreign currency loans and export receivables as per Accounting Standard 11 and Loss of Rs. 4.47 lakhs consequent to actual settlements.
*6. Net Sales for the nine months ended 31st December 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 nine months ended 31st December 2013 is 7.16%
over comparable figure of the corresponding period in the previous year.
7. Other Operating Income includes income from Sale of Land held as Stock-in-Trade amounting to Rs. 1331.10 lakhs
which has resulted in a profit of Rs. 1138.33 lakhs.

Coimbatore

By Order of the Board

4th February, 2014

VIKRAM MOHAN

Managing Director