Audited Financial Results for the Year Ended 31st March, 2004

 

[Rs. In Millions]

Sl.No. Particulars 9 Months 3 Months 3 Months Year Ended Previous Year Ended Consolidated Financial
Ended Ended Ended (Audited) (Audited) Results 
   

31.12.2003

 31.03.2004 31.03.2003

31.03.2004

31.03.2003

 31.03.2004 31.03.2003
       

 

 (Audited) (Audited)
1  Gross Sales 658.87   316.54   192.04   975.41   638.02   975.41   638.02  
2  Less : Excise Duty 78.55   38.42   24.65   116.97   75.27   116.97   75.27  
3  Net Sales 580.32   278.11   167.39   858.44   562.75   858.44   562.75  
4  Other Income 9.26   3.79   1.70   13.05   3.11   12.95   3.01  
5 Total Expenditure                            
   a) Increase (+) / Decrease (-) in Stock in Trade 22.60   8.51   -4.22   31.11   -16.09   31.11   -16.09  
   b) Consumption of Raw Materials 218.61   117.88   53.06   336.49   174.83   336.49   174.83  
   c) Staff Cost 58.54   23.19   17.05   81.73   69.06   90.49   77.14  
   d) Other Expenditure 144.24   60.09   42.15   204.33   135.66   195.18   127.30  
6  Interest 4.39   2.43   2.22   6.81   8.01   6.81   8.01  
7  Depreciation 57.72   25.40   16.21   83.12   58.39   83.12   58.39  
8  Profit Before Tax 128.70   61.42   34.18   190.12   103.81   190.41   103.99  
9

 

 

  Provision for Tax                                                     
 a) Current 40.00   11.00   10.90   51.00   38.40   51.11   38.49  
 b) Deferred 5.05   1.74   3.46   6.80   0.24   6.80   0.24  
10  Net Profit 83.65   48.67   19.82   132.32   65.17   132.51   65.25  
11  Paid Up Capital 39.02   39.02   38.18   39.02   38.18   39.02   38.18  
   (Face Value of  Rs.10 each)                                    
12   Reserves excluding revaluation reserves                         514.77   441.21   515.49   441.73  
13  Earning Per Share (Basic and diluted) 2.16   1.25   0.52   3.41   1.71   3.42   1.71  
14

 

 

  Non Promoter Shareholding                                  
 a) No. of Shares                    1814176   1856608   1814176   1856608  
 b) Percentage of Share Holding           46.5   48.63   46.5   48.63      

 

1 The above Financial Results were approved by the Board of Directors at their meeting held on 24th May 2004.
2 The Board of Directors have recommended  75%  Dividend subject to approval of Shareholders.
3 The Companies main business segment is manufacturing Gears and Gear Products.  The contribution from other business segment which has been taken over on account of merger is well below the stipulated margin for the segment wise reporting.  Hence there are no separate reportable segments as per the Accounting  Standards on Segment Reporting (AS17).
4 The Board has recommended a proposal for Sub-Division (Stock Split) of the Equity Shares of the Company.  One Equity Shares of Rs.10 each would be sub divided into 10 Equity Shares Rs.1 each.  The proposal is subject to the approval of members at the forthcoming Annual General Meeting to be held on 2nd July 2004.
5 The Board has recommended to issue Bonus Shares in the ratio of 1:1 (One Bonus for Every One Equity Shares held).  The above proposal is subject to the approval of members at the forthcoming Annual General Meeting to be held on 2nd July 2004.
6 The Consolidated Financial Results in accordance with Accounting Standard AS21 relate to Shanthi Gears Limited and its subsidiary, Shanthi Sales Limited.
7 The Company had no investor complaints  pending  as on 31st December 2003.  All  the 4 Complaints received  during the Quarter were disposed of during the Quarter.
(*) [Calculated on weighted average no.of Equity Shares of 38,80,735 due to Amalgamation of Shanthi Precision Industries Limited w.e.f.01.07.2003]
 
Coimbatore - 641 005. By Order of the Board
24.05.2004 P.SUBRAMANIAN
Chairman & Managing Director

 

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