|
Financial results for the Quarter and year ended March 31, 2004
|
(All amounts in Rs lakh) |
|
Particulars |
CMC Limited |
Consolidated |
|
Quarter ended 31 March, (unaudited) |
Year ended 31 March, (Audited) |
Quarter ended 31 March (unaudited) |
Year ended 31 March, (Audited) |
|
|
2004 |
2003 |
2004 |
2003 |
2004 |
2004 |
2003 |
|
Revenue |
21873.92 |
24028.01 |
76367.23 |
61473.13 |
22705.87 |
80174.80 |
67909.47 |
|
(a) |
Sale of equipment and services |
20969.39 |
23687.55 |
74707.40 |
60798.68 |
21801.34 |
78514.97 |
67235.02 |
|
Expenditure (a to d) |
19035.24 |
21268.56 |
68564.72 |
54858.22 |
19829.79 |
72622.74 |
61323.19 |
|
(a) |
Materials |
10377.37 |
14568.58 |
39062.75 |
27045.10 |
10365.11 |
39062.75 |
27100.97 |
|
(b) |
Staff cost |
3947.61 |
2798.14 |
13172.32 |
12037.35 |
4813.53 |
17487.00 |
19249.59 |
|
(c) |
Living expenses-overseas contracts |
1348.98 |
1367.48 |
5260.83 |
5298.73 |
814.43 |
2920.15 |
1918.61 |
|
(d) |
Other expenses |
3361.28 |
2534.36 |
11068.82 |
10477.04 |
3836.72 |
13152.84 |
13054.02 |
|
Interest (net) |
93.43 |
71.86 |
355.97 |
143.71 |
93.12 |
335.20 |
160.49 |
|
Depreciation |
248.76 |
227.28 |
875.51 |
804.80 |
257.48 |
925.20 |
888.58 |
|
Profit before Tax |
2496.49 |
2460.31 |
6571.03 |
5666.40 |
2525.48 |
6291.66 |
5537.21 |
|
Provision for Taxation |
|
|
|
|
|
|
|
|
- Current income tax |
428.85 |
899.37 |
1915.04 |
2019.37 |
428.50 |
1957.58 |
1933.63 |
|
- Deferred income tax |
14.31 |
179.07 |
(142.69) |
(58.33) |
14.31 |
(142.69) |
(33.20) |
|
Profit after Tax |
2053.33 |
1381.87 |
4798.68 |
3705.36 |
2082.67 |
4476.77 |
3636.78 |
|
Paid-up Equity Share Capital (Face value Rs.10 each) |
1515.00 |
1515.00 |
1515.00 |
1515.00 |
1515.00 |
1515.00 |
1515.00 |
|
Reserves (excluding revaluation reserves) |
- |
- |
14548.99 |
10728.32 |
|
14065.64 |
10603.55 |
|
Earning per Share - Basic & Diluted (Rs.)
(not annualised) |
13.55 |
9.12 |
31.67 |
24.46 |
13.75 |
29.55 |
24.00 |
|
Aggregate of non-promoter shareholding |
|
|
|
|
|
|
|
Number of shares (unaudited) |
7,375,039 |
33,98,665 |
7,375,039 |
33,98,665 |
7,375,039 |
7,375,039 |
3,398,665 |
|
Percentage of shareholding |
48.68 |
22.43 |
48.68 |
22.43 |
48.68 |
48.68 |
23.43 |
Segment wise Revenue, Results and Capital Employed for the Quarter and Year ended as at 31 March, 2004
|
(All amounts in Rs lakh) |
|
Particulars |
CMC Limited |
Consolidated |
|
Quarter ended 31 March, (Unaudited) |
Year ended 31 March, (Audited) |
Quarter ended 31 March, (Unaudited) |
Year ended 31 March, (Audited) |
|
|
2004 |
2003 |
2004 |
2003 |
2004 |
2004 |
2003 |
|
Segment Revenue (a to d) |
|
|
|
|
|
|
|
(a) |
Customer Services |
14470.25 |
16882.58 |
52446.81 |
38332.38 |
14470.25 |
52446.81 |
38332.38 |
|
(b) |
Systems Integration |
5610.72 |
4563.74 |
17897.12 |
17115.15 |
6442.67 |
21704.69 |
23551.49 |
|
(c) |
ITES |
907.54 |
1701.52 |
3385.37 |
3028.94 |
907.54 |
3385.37 |
3028.94 |
|
(d) |
Education & Training |
609.48 |
623.54 |
1848.08 |
2498.37 |
609.48 |
1848.08 |
2498.37 |
|
Total |
21597.99 |
23771.38 |
75577.38 |
60974.84 |
22429.94 |
79384.95 |
67411.18 |
|
(e) |
Other unallocable revenue |
275.93 |
256.63 |
789.85 |
498.29 |
275.93 |
789.85 |
498.29 |
|
Total Revenue |
21873.92 |
24028.01 |
76367.23 |
61473.13 |
22705.87 |
80174.80 |
67909.47 |
|
Segment Results (a to d) |
|
|
|
|
|
|
|
Profit before tax and interest from each segment |
|
|
|
|
(a) |
Customer Services |
1493.32 |
1415.73 |
4916.24 |
4203.27 |
1493.32 |
4916.24 |
4203.27 |
|
(b) |
Systems Integration |
1743.74 |
998.58 |
4028.69 |
3180.22 |
1772.42 |
3728.55 |
3067.81 |
|
(c) |
ITES |
(32.44) |
427.70 |
507.41 |
693.69 |
(32.44) |
507.41 |
693.69 |
|
(d) |
Education & Training |
(38.79) |
50.03 |
(173.62) |
(101.12) |
(38.79) |
(173.62) |
(101.12) |
|
Total |
3165.83 |
2892.04 |
9278.72 |
7976.06 |
3194.51 |
8978.58 |
7863.65 |
|
Less: |
|
|
|
|
|
|
|
|
i. Interest ( Net) |
93.43 |
71.86 |
355.97 |
143.71 |
93.12 |
335.20 |
160.49 |
|
ii. Other unallocable expenditure (net of unallocable Income) |
575.91 |
359.87 |
2351.72 |
2165.95 |
575.91 |
2351.72 |
2165.95 |
|
Profit before Tax |
2496.49 |
2460.31 |
6571.03 |
5666.40 |
2525.48 |
6291.66 |
5537.21 |
|
Capital Employed (a to e) |
|
|
|
|
|
|
|
Segment Assets - Liabilities |
|
|
|
|
|
|
|
(a) |
Customer services |
10712.72 |
6628.19 |
10712.72 |
6628.19 |
10712.72 |
10712.72 |
6628.19 |
|
(b) |
Systems Integration |
6521.10 |
4373.54 |
6521.10 |
4373.54 |
6855.75 |
6855.75 |
4824.09 |
|
(c) |
ITES |
714.29 |
1503.74 |
714.29 |
1503.74 |
714.29 |
714.29 |
1503.74 |
|
(d) |
Education & Training |
(187.64) |
37.84 |
(187.64) |
37.84 |
(187.64) |
(187.64) |
37.84 |
|
(e) |
Unallocable Assets less Liabilities |
(1696.48) |
(299.99) |
(1696.48) |
(299.99) |
(2514.48) |
(2514.48) |
(875.31) |
|
Total |
16063.99 |
12243.32 |
16063.99 |
12243.32 |
15580.64 |
15580.64 |
12118.55 |
Notes to the unaudited financial results
-
The above results have been taken on record by the Board of Directors at its meeting held on 26th April, 2004.
- Consolidated results comprise consolidation of the financial results of CMC Limited and its wholly owned subsidiary CMC Americas, Inc.
- Other income for the year ended 31st March, 2004 includes provisions written back amounting to Rs. 1013.71 lacs and interest on refund of income tax amounting to Rs. 141.44 lacs.
- The Board of Directors proposed a dividend of Rs. 5.50 per share (55% on an equity share of par value of Rs.10/-) subject to approval of members of the Company at the Annual General Meeting.
- CMC Americas Inc., the Company's wholly owned subsidiary, has accumulated losses aggregating to USD 1.59 million as on 31st March, 2004 resulting in an erosion in net worth. Since the Company has long term involvement in the subsidiary, no diminution in value of investment has been considered necessary by the Management in the accounts of CMC Limited
- Government of India ceased to be a shareholder on 15th March, 2004 after selling its remaining holding of 3,976,374 equity shares representing 26.25% of the Share Capital of the Company through Book Building process, resulting in corresponding increase in non-promoter shareholding.
- There were no complaints from investors pending as on 1st January, 2004. The Company received 301 complaints during the quarter ended 31st March 2004, all of which were disposed off during the quarter and there were no complaints pending as on 31st March, 2004.
- Previous period figures have been regrouped, wherever necessary, for the purpose of comparison.
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