Unaudited Financial Results for the Quarter Ended 30th June, 2013

Unaudited Financial Results for the Quarter Ended 30th June, 2013

Pricol Limited
Regd. Office:CPM Towers,109 Race Course, Coimbatore- 641 018
Unaudited Financial Results for the Quarter Ended 30th June, 2013

(in Lakhs)

Particulars
Standalone Financials
For the Three Months Ended For the year Ended
30-Jun-2013
31-Mar-2013
30-Jun-2012
31-Mar-2013
 
Unaudited
Audited
Unaudited
Audited
1. Income from Operations    
 
 
   (a)  Net Sales / Income from operations (Net of excise duty)    
19766.35
21070.47
21885.60
82825.96
   (b) Other Operating Income
1044.69
1315.38
1121.75
4563.47
   Total Income from Operations (net)  [ a + b ]
20811.04
22385.85
23007.35
87389.43
2. Expenses  

 

    (a) Cost of Materials Consumed
13208.51
13917.61
14625.03
54478.52
    (b) (Increase) / Decrease  in inventories of finished goods
(96.20)
496.17
( 214.77)
541.79
    (c) (Increase) / Decrease  in inventories of Work in Progress (45.76)
(23.30)
( 58.62)
194.61
    (d) Purchases of stock-in-trade
974.67
1235.05
1059.51
4351.82
    (e) Employee Benefits Expense
3104.16
3158.74
3220.07
12787.35
    (f) Depreciation and amortisation expense
809.58
837.50
704.98
3195.01
    (g) Exchange Fluctuation (Gain) / Loss
(19.63)
2.61
513.86
380.17
    (h) Other Expenses
2222.52
1821.18
2394.99
8611.52
     Total Expenses
20157.85
21445.56
22245.05
84540.79
3. Profit / (Loss) from Operations before Other Income, finance costs and
      Exceptional Items [ 1 – 2 ]
653.19
940.29
762.30
2848.64
4. Other Income
     (a) Profit / (Loss) on Sale of Assets
13.41
8.34
2.44
51.15
     (b) Others
33.35
18.21
45.83
100.45
5. Profit / (Loss) from ordinary activities before finance costs and
    exceptional items [ 3 + 4 ]
699.95
966.84
810.57
3000.24
6. Finance Costs
176.73
380.78
427.94
1633.07
7. Profit / (Loss) from ordinary activities after finance costs but before
    exceptional items [ 5 – 6 ]
523.22
586.06
382.63
1367.17
8. Exceptional Items – Income – Net     

5163.34 
                  

–  
              

–  
9. Profit / (Loss) from Ordinary Activities before Tax [ 7 + 8 ]
5686.56
586.06
382.63
1367.17
10.Tax Expense  – Net
1269.99
(296.87)
45.00
( 206.87)

11. Net Profit / (Loss) from Ordinary Activities After Tax [ 9 –

10 ]

4416.57
882.93
337.63
1574.04
12. Extraordinary Item  – (Net of Tax Expense)                    

–  
                  

–  
                  

–  
                 

–  
13. Net Profit / (Loss) for the period [ 11- 12 ]
4416.57
882.93
337.63
1574.04
14. Paid-up-Equity Share Capital (Face Value of 1/- each)                  

945.00
            900.00             

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]
4.86
0.98
0.38
1.75
        (b) Diluted
4.86
0.93
0.36
1.67
 
SELECT INFORMATION FOR THE QUARTER AND YEAR 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
        – Percentage of shares (as a% of the total shareholding of promoter 
           and promoter group)
100.00
100.00
100.00
100.00
       – Percentage of shares (as a % of the total share capital of the company)
38.63
40.56
35.66
40.56
B. INVESTOR COMPLAINTS
     Pending at the beginning of the quarter
Nil
     Received during the quarter
5
     Disposed off during the quarter
3
     Remaining unresolved at the end of the quarter
2
Notes :
1.The above results have been reviewed by the Audit Committee and taken on record by the Board at its meeting held on 25th July, 2013.
The Statutory Auditors have carried out a "Limited Review" of the above financial results.
2. During the Quarter, the company has sold its Denso Technology Instrument Cluster Business to its Subsidiary Pricol Components Limited
(Presently, Denso Pricol India Limited) on a going concern basis, the profit therefrom is included in Exceptional Item.
3.Net Sales of 19766.35 lakhs for the Quarter ended 30th June, 2013 does not include sales relating to business transferred to Joint
Venture, Denso Pricol India Limited at Coimbatore, effective April 2013. The sales performance for the three months ended 30th June 2013 is -2.05% over comparable figure of the corresponding quarter of the previous year.
4. Exchange Fluctuation for the year ended  30th June, 2013 represents Gain of Rs. 24.35 lakhss consequent to re-statement of
    foreign currency loans and export receivables as per Accounting Standard 11 and Loss Rs. 4.72 lakhs consequent to actual settlements.
5. During the Quarter, the company has converted Share Warrant issued to PHI Capital Solutions LLP into 45,00,000 Equity Shares of ` 1 each at a premium of ` 17 each. Subsequent to that Share Capital has been increased from ` 900 lakhs to ` 945 lakhs.
6. Previous Period’s figures have been regrouped wherever necessary to conform to the current period’s classification.
7. The Company’s Operations relate to one primary segment, Automotive Components.
8. The Board of Directors declared a interim dividend @ 40% (` 0.40 per ` 1.00 share) from profit on sale of business as mentioned in point 2.
  By order of the Board
Coimbatore
25th July, 2013
VIKRAM MOHAN
Managing Director