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Our businesses > Tata companies > Voltas > Media releases |
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May 29, 2002
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Voltas Limited
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Audited
financial results
for
the twelve months ended 31st March, 2002
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(Rs.
in Lakhs)
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Particulars
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Nine
months
ended
31.12.2001
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Three
months
ended
31.3.2002
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Three
months
ended
31.3.2001
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Year
ended
31st March 2002
(Audited)
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Year
ended
31st March 2001
(Audited)
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| 1 |
Net sales/ Income from operations |
65907
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28159
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23759
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94066
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85372
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| 2 |
Other income
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759
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651
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406
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1410
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1409
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3 |
Total expenditure
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a.(Increase)/Decrease
in stock in trade
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1636
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(39)
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535
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1597
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(14)
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b. Consumption
of raw materials
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40413
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19400
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13851
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59813
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52994
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c. Staff cost
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8149
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2833
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2502
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10982
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10030
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d. Excise duty
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5467
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1993
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2764
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7460
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8916
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e. Other expenditure
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8313
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3569
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3565
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11882
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10694
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Total
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63978
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27756
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23217
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91734
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82620
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4 |
Interest (Net)
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495
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56
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(58)
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551
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963
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5 |
Depreciation
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1231
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143
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373
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1374
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1479
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| 6 |
Profit before
tax and extraordinary income
/ (Expenses)
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962
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855
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633
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1817
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1719
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| 7 |
Extraordinary
items (Net)
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(630)
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484
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(626)
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(146)
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(1147)
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| 8 |
Profit before
taxation
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332
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1339
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7
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1671
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572
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| 9 |
Provision for
taxation - Current
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193
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96
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(36)
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289
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14
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| 10 |
Credit for deferred
taxation
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398
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(97)
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-
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301
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-
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| 11 |
Net profit / (Loss)
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537
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1146
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43
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1683
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558
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| 12 |
Paid-up equity
share capital (Face value Rs
10/-)
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3305
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3305
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3305
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3305
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3305
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| 13 |
Reserves excluding
revaluation reserves
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15496
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12202
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| 14 |
Basic and diluted
earning per share(Rs)
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2
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4
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0.1
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5
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2
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| 15 |
Aggregate of non
- promoter shareholding
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- Number of shares
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25389586
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24864368
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26457560
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24864368
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26457560
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- Percentage of
shareholding
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76.73%
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75.15%
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79.96%
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75.15%
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79.96%
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Segment
report for the year ended 31st March 2002
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Rs.
In lakhs
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Particulars
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Year
Ended
31st March 2002
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1. Segment
revenue
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a ) Segment
- Electro - Mechanical projects
and services
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40,684
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b ) Segment
- Engineering agency and
services
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5,796
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c ) Segment
- Unitary cooling products
for comfort and commercial
use
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35,521
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d ) Others
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12,351
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Less inter
segment revenue
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286
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Net sales
/ Income from operations
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94,066
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2. Segment
results
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a ) Segment
- Electro - Mechanical projects
and services
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4,120
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b ) Segment
- Engineering agency and
services
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1,587
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c ) Segment
- Unitary cooling products
for comfort and commercial
use
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283
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d ) Others
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408
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Total
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6,398
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Less : i.
Interest
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551
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ii. Other
unallocable expenditure
net off unallocable income
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4,030
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Net profit/
(Loss) before extraordinary
items
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1,817
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Extra ordinary
items
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(146)
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Net profit
/ (Loss) before tax
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1,671
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3. Capital
employed
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a ) Segment
- Electro - Mechanical projects
and services
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4,506
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b
) Segment - Engineering
agency and
services
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1,725
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c ) Segment
- Unitary cooling products
for comfort and commercial
use
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4,849
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d ) Others
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2,785
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Total
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13,865
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Notes
- Extraordinary Items ( Net )
for the year ended 31st March,
2002 comprise : Profit on sale
of Undertaking - Rs 1967.21 lakhs,
(Previous year Nil), Profit on
sale of property/transfer of development
rights - Rs 3685.87 lakhs. (previous
year Rs 311.62 lakhs), Write back
of diminution in value of investments
- Rs 717.71 lakhs (previous year
Nil), Other income Rs 233.76 lakhs.
(previous year - Rs 2267.50 lakhs),
Loss on sale of investment in
subsidiary companies - Rs 1923.95
lakhs (previous year Nil), Provision
for diminution in value of investments
- Nil (previous year Rs 1452.15
lakhs), Amortisation of VRS expenses
- Rs 3077.95 lakhs, (previous
year Rs 2273.57 lakhs), Advances
written off/provided for - Rs
1328.52 lakhs (previous year Nil),
Provision for contingency - Rs
200 Lakhs (previous year Nil),
Other expenses - Rs 220.16, (previous
year Nil).
- Accounting standard 22 relating to 'Accounting
for Taxes on Income' is mandatory effective
1st April 2001. In accordance with the
requirements of this standard, Tax effect
of timing difference arising during the
year of Rs.301 lakhs has been accounted.
Net deferred tax asset pertaining to the
period prior to 1st April 2001 amounting
to Rs.868 lakhs has been added to the
Reserves as at 1 st April 2001 and the
Reserves as on 1st April 2001 have increased
to Rs. 13070 lakhs.
- As per Bombay High Court's order received
on 20th September, 2001,Voltas International
Ltd( VIL ), a wholly owned subsidiary
of Voltas Limited has been merged with
the Company w.e.f. 1st April 2001.
The results for the year ended 31st March
2002 include full year results of VIL
as given below :
| Rs.
In lakhs |
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| Net
Sales / Income from operations |
13882 |
| Total
expenditure |
11495 |
| Profit
before tax |
2387 |
| Provision
for taxation (Including foreign
income tax) |
231 |
| Profit
after tax |
2156 |
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- Provision for taxation, includes foreign
income tax of Rs. 207 lakhs and wealth
tax of Rs. 8 lakhs.
- Figures
for the corresponding period last year
have been regrouped for making them comparable.
- The Board of Directors have recommended
a dividend @ 18% for the year 2001-02
(previous year 12%)
- The above results have been taken on
record by the Board of Directors on 29th
May, 2002.
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| Dated:
29 May, 2002 |
A. Soni
Managing Director
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