May 20, 2003

CMC Limited


Audited financial results for the year ended 31st March, 2003

(Rs in lakh)

Particulars

Quarter Ended

Year Ended
Audited

Year Ended
Consolidated Audited

3/31/2003

3/31/2002

3/31/2003

3/31/2002

3/31/2003

3/31/2002

Net Sales / Income from Operations

23687.73

20809.42

60798.68

54669.80

67235.02

63045.49

Other Income

351.96

577.36

674.45

1863.36

674.45

1355.68

Total Income

24039.69

21386.78

61473.13

56533.16

67909.47

64401.17

Total Expenditure:

a) Material Cost

13580.12

10377.18

27045.10

22258.11

27100.97

22289.00

b) Staff expenditure

2798.14

3590.55

12037.35

11280.98

19249.59

21838.52

c) Other expenditure

4901.98

5359.18

15775.77

16884.06

14972.63

15614.75

Profit before Interest, Depreciation and Tax

2759.45

2059.87

6614.91

6110.01

6586.28

4658.90

Interest (net)

71.86

15.05

143.71

195.24

160.49

186.21

Depreciation

227.28

210.35

804.80

804.25

888.58

906.72

Profit before Tax

2460.31

1834.47

5666.40

5110.52

5537.21

3565.97

Provision for Taxation

Current Tax

899.37

659.79

2019.37

1815.79

1933.63

1670.17

Deferred Tax

179.07

(136.16)

(58.33)

(69.16)

(33.20)

(69.16)

Net Profit

1381.87

1310.84

3705.36

3363.89

3636.78

1964.96

Paid-up Equity Share Capital

1515.00

1515.00

1515.00

1515.00

1515.00

1515.00

( Face value Rs.10/- each)

Reserves excluding revaluation reserves

10728.32

7763.26

10603.55

7722.82

Earning per Share - Basic & Diluted (Rs.)

9.12

8.65

24.46

22.20

24.00

12.97

Aggregate of non-promoter shareholding

- Number of shares

33,98,665

25,09,339

33,98,665

25,09,339

33,98,665

25,09,339

- Percentage of shareholding

22.43

16.56

22.43

16.56

22.43

16.56

Notes

    1. The above results have been taken on record by the Board of Directors at its meeting held on May 7, 2003.
    2. Consolidated results comprises consolidation of the financial results of CMC Limited and its wholly owned subsidiary Baton Rouge International, Inc. which is incorporated in the United States of America.Consolidated financial statements are prepared in accordance with Accounting Standard - 21 issued by ICAI.

    3. The non-promoter shareholding has increased consequent upon Government of India (one of the promoter shareholders) selling part of its shareholding to the employees of the Company.

    4. The Board of Directors of the Company has recommended a dividend of Rs.4 per equity share of Rs 10/- each for the year subject to approval of shareholders.

    5. Figures have been regrouped, wherever necessary, for the purpose of comparison.
    New Delhi
    Dated: 7 May 2003

    S. S. Ghosh
    Managing Director & CEO