Audited Financial Results for the Year Ended 31st March, 2007

 
         

 [Rs. In Millons]
Sl. No. Particulars 9 Months 3 Months 3 Months Year Ended Previous Year
    Ended Ended Ended (Audited) Ended (Audited)
    31.12.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006
1  Gross Sales 1575.98   703.67   546.17   2279.66   1842.55  
2  Less : Excise Duty 182.66   83.48   62.71   266.14   219.65  
3  Net Sales 1393.33   620.19   483.46   2013.52   1622.90  
4  Other Income 2.90   12.16   0.05   15.06   1.65  
5  Total Income 1396.23   632.35   483.51   2028.58   1624.55  
6  Total Expenditure                                     
  a) (Increase)/Decrease in Stock in Trade (64.12)   49.89   26.63   (14.22)   (5.39)  
  b) Consumption of Raw Materials 606.77   228.02   177.50   834.79   631.66  
  c) Staff Cost 107.57   46.70   34.87   154.26   132.09  
  d) Other Expenditure 219.67   92.54   58.02   312.21   278.48  
7  Interest 31.00   16.73   5.42   47.72   29.97  
8  Depreciation 129.98   52.32   35.61   182.30   127.14  
9  Profit Before Tax 365.36   146.16   145.46   511.52   430.60  
10  Provision for Taxation                                 
  a) Current 75.00   30.83   32.65   105.83   113.65  
  b) Deferred 42.62   24.72   22.04   67.33   33.97  
  c) Fringe Benefit Tax 2.00   0.50   0.90   2.50   2.40  
  d) Prior Year Taxes (0.005)   -     -   (0.005)   -  
11  Net Profit 245.75   90.11   89.87   335.86   280.58  
  Add : Extra Ordinary Income     22.72       22.72      
  (Reversal of Entry Tax provision made in earlier years)                    
  Net Profit after Extra Ordinary Income 245.75   112.83   89.87   358.58   280.58  
12 Paid Up Equity Share Capital (Face Value of Re.1 each) 80.78   80.78   78.82   80.78   78.82  
13  Reserves excluding revaluation  reserves              1234.49   859.05  
14  Earning Per Share                    
  a) Excluding Extra Oridinary Income                    
     i)  Basic (Rs.) 3.04   1.12   1.14   4.16   3.56  
     ii) Diluted (Rs.) 3.03   0.93   1.11   3.96   3.47  
  b) Including Extra Oridinary Income                    
     i)  Basic (Rs.) 3.04   1.40   1.14   4.44   3.56  
     ii) Diluted (Rs.) 3.03   1.20   1.11   4.23   3.47  
15  Public Shareholding                    
  a) No. of Shares             43981959   42204267  
  b) Percentage of Share Holding             54.45   53.55  

 

1 The above Financial Results were approved by the Board of Directors of the Company at their Board meeting held on 16th May 2007.
2 The Board of Directors have recommended  100%  Dividend subject to approval of Shareholders.
3 The Companies Main Business is manufacture of Gears and Gear Products. There are no separate reportable segments as per Accounting Standard 17 (AS17).
4 The Company had no investor complaints pending as on 31st December, 2006. All the 4 Complaints received during the Quarter were disposed of during the Quarter.
5 Diluted Earning Per Share has been calculated taking into consideration entire FCCB as Potential Equity Shares as per  Accounting Standard 20 (AS20).
6 Honourable High Court of Madras has quashed the demand as per the Tamilnadu Tax on Entry of Goods. Hence the provision made in earlier years have been reversed and shown as Extra ordinary Income for the Current Year.
 
     
Coimbatore - 641 005 By Order of the Board
16.05.2007 P.SUBRAMANIAN
Chairman & Managing Director

 

 

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