Audited Financial Results for the Year Ended 31st March, 2008

 
         

 [Rs. In Millons]
Sl. No. Particulars 9 Months 3 Months 3 Months Year Ended Previous Year
    Ended Ended Ended (Audited) Ended (Audited)
    31.12.2007 31.03.2008 31.03.2007 31.03.2008 31.03.2007
1  Gross Sales 1986.21   761.17   703.67   2747.38   2279.66  
2  Less : Excise Duty 223.19   82.83   83.48   306.02   266.14  
3  Net Sales from Operations 1763.02   678.34   620.19   2441.36   2013.52  
4  Other Income 12.04   (0.32)   12.16   11.72   15.06  
5  Total Income 1775.06   678.02   632.35   2453.08   2028.58  
6  Total Expenditure                                     
  a) (Increase)/Decrease in Stock in Trade and work in progress 4.27   (54.25)   49.89   (49.98)   (14.23)  
  b) Consumption of Raw Materials 670.06   330.44   228.02   1000.49   834.79  
  c) Purchase of traded goods -   -   -   -   -  
  d) Employee Cost 133.21   55.50   46.70   188.71   154.26  
  e) Depreciation 164.97   59.63   52.32   224.60   182.30  
  f) Other Expenditure 272.76   94.99   92.54   367.76   312.21  
  g) Total 1245.27   486.31   469.47   1731.58   1469.33  
7  Interest 36.73   9.85   16.73   46.57   47.72  
8 Exceptional Items -   -   -   -   -  
9 Profit Before Tax from Ordinary Activities 493.06   181.86   146.16   674.92   511.52  
10 Provision for Taxation (Tax Expense)                                 
  a) Current 151.85   54.89   30.83   206.74   105.83  
  b) Deferred 17.01   7.83   24.72   24.84   67.33  
  c) Fringe Benefit Tax 2.25   0.25   0.50   2.50   2.50  
  d) Prior Year Taxes (0.77)   -     -   (0.77)   (0.01)  
11 Net Profit from Ordinary Activities 322.72   118.89   90.11   441.61   335.86  
  Add : Extra Ordinary Income         22.72       22.72  
  (Reversal of Entry Tax provision made in earlier years)                    
  Net Profit after Extra Ordinary Income 322.72   118.89   112.83   441.61   358.58  
12 Paid Up Equity Share Capital (Face Value of Re.1 each) 81.32   81.72   80.78   81.72   80.78  
13 Reserves excluding revaluation  reserves              1615.27   1234.49  
14 Earning Per Share                    
  a) Excluding Extra Oridinary Income                    
     i)  Basic (Rs.) 3.97   1.43   1.12   5.40   4.16  
     ii) Diluted (Rs.) 3.86   1.43   0.93   5.39   3.96  
  b) Including Extra Oridinary Income                    
     i)  Basic (Rs.)         1.40       4.44  
     ii) Diluted (Rs.)         1.20       4.23  
15  Public Shareholding                    
  a) No. of Shares             45196845   43981959  
  b) Percentage of Share Holding             55.31   54.45  

 

1 The above Financial Results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their Board meeting held on 14th May 2008.
2 The Board of Directors have recommended  120%  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, 2007. All the 2 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 Figures have been reclassified and regrouped to confirm with the Audited Accounts wherever necessary.
 
     
Coimbatore - 641 005 By Order of the Board
14.05.2008 P.SUBRAMANIAN
Chairman & Managing Director

 

 

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