Unaudited Financial Results for the quarter ended 30th September 2008

Unaudited Financial Results for the quarter ended 30th September 2008

Pricol Lmited
Regd. Office: 702 /
7 Avanashi Road ,
Coimbatore – 641 037
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER  AND HALF YEAR ENDED

30TH SEPTEMBER 2008
(Rs.in Lakhs)
Particulars For the Three

Months Ended

For the Six

Months Ended

For the Year Ended
30.09.2008 30.09.2007 30.09.2008 30.09.2007 31.03.2008
Unaudited Unaudited Audited
(a)  Net Sales / Income from operations 16575.32 14383.47 32949.39 29410.41 60646.25
(b)  Other Operating Income 88.46 12.91 154.91 17.11 149.84
(c) Total Income (a+b) 16663.78 14396.38 33104.30 29427.52 60796.09
(d) Expenditure
(1) (Increase) / Decrease in  Stock in Trade (19.78) 298.21 (45.09) (804.97) (2387.39)
(2) (Increase) / Decrease in Work in Progress 5.18 (452.40) 386.23 (1030.64) (1214.42)
(3) Consumption of  Raw  Materials & Components 10619.23 8991.56 20621.77 19259.99 40246.68
(4) Employees  Cost 2497.19 2361.55 4837.21 4478.15 8966.36
(5) Depreciation 905.59 809.74 1763.30 1610.59 3271.90
 (6) Other Expenditure 2176.53 2248.65 4414.02 4508.40 8925.35
(7) Cost of Inhouse of  manufactured  Machines & Tools Capitalised (293.14) (339.29) (631.64) (428.26) (1294.30)
Total Expenditure 15890.80 13918.02 31345.80 27593.26 56514.18
(e)  Profit from Operations before Other Income, Interest & Exceptional Items [ c – d ] 772.98 478.36 1758.50 1834.26 4281.91
(f)  Other Income 38.28 199.60 75.72 289.42 544.23
(g) Profit before Interest and Exceptional items [ e + f ] 811.26 677.96 1834.22 2123.68 4826.14
(h) Interest 906.59 727.00 1686.45 1357.85 2870.03
(i) Profit after Interest but before Exceptional items [ g – h ] (95.33) (49.04) 147.77 765.83 1956.11
(j) Exceptional Items – Exchange Fluctuation Gain / (Loss) (740.98) 77.99 (1312.04) 556.39 227.15
(k) Profit / (Loss) from Ordinary Activities before Tax [ i – j ] (836.31) 28.95 (1164.27) 1322.22 2183.26
(l) Provision for:
 Current Taxation 7.53 387.53 500.00
 Fringe Benefit Tax 19.50 11.50 32.70 23.50 75.00
  Deferred Tax (45.00) (60.00) (105.00) (110.00) (300.00)
(m) Net Profit / (Loss ) [ k – l ] (810.81) 69.92 (1091.97) 1021.19 1908.26
(n) Paid-up-Equity Share Capital (Face Value of Re 1/- each) 900.00 900.00 900.00 900.00 900.00
(o) Reserves excluding revaluation reserves 17785.44
(p) Basic and diluted Earnings Per Share (Rs.) (not annualised) [m/n] (0.90) 0.08 (1.21) 1.13 2.12
(q) Public share holding : Number of Shares 57,756,535 57,756,535 57,756,535 57,756,535 57,756,535
Percentage of share holding 64.17 64.17 64.17 64.17 64.17
Notes:
1. Previous Period’s figures have been regrouped wherever necessary to conform to the current period’s classification.
2. The Company’s Operations mainly relate to One Segment, Automotive Components .
3. The Loss of Market Share due to illegal strike during last year has not been fully regained. Steep increase in Raw Material prices has affected the profits for the quarter ended

30th September, 2008

.

4. The above results have been reviewed by the Audit Committee and approved  by the Board at its meeting held on

30th October, 2008

.  The statutory auditors have carried out a “Limited Review” of the above financial results.

5.  Investors’ Complaints : Pending as at the beginning  of the quarter – Nil,  Received  during the quarter- 15, Resolved during the quarter – 14, Pending at the end of the quarter – 1.
6.  Exchange Fluctuation Loss for the six months ended
30th September 2008
represents Rs.1008.56 lakhs consequent to re-statement of foreign currency loans & export receivables as per Accounting Standard 11 and Rs.303.48 lakhs consequent to actual settlements.
Coimbatore

30-10-2008

By Order of the Board
VIJAY MOHAN
Chairman & Managing Director