|
Unaudited
financial results (provisional) for the
period ended 31st December, 2002
|
(Rs.
in crore)
|
| Particulars |
Quarter
ended
31-12-2002 |
Quarter
ended
31-12-2001 |
Nine
months
ended
31-12-2002 |
Nine
months
ended
31-12-2001 |
Year
ended
31-3-2002
(Audited) |
| Net
sales / Income from operations |
228.96 |
207.44 |
539.16 |
448.02 |
724.78 |
|
|
| Other
Income |
0.61 |
0.28 |
1.34 |
1.69 |
2.24 |
| Total
Income |
229.57 |
207.72 |
540.50 |
449.71 |
727.02 |
| Expenditure |
|
|
|
|
|
| Decrease
/ (Increase) in stock in trade |
2.08 |
3.72 |
(41.89) |
(21.71) |
18.84 |
|
Consumption
of raw materials
|
136.32 |
114.20 |
340.64 |
256.27 |
379.23 |
| Excise
duty |
16.18 |
14.93 |
45.86 |
40.24 |
58.84 |
| Staff
cost |
19.39 |
18.44 |
58.25 |
53.48 |
76.32 |
| Advertising |
13.37 |
13.44 |
31.37 |
26.94 |
36.55 |
| Other
expenditure |
12.48 |
15.78 |
47.83 |
41.04 |
64.43 |
|
|
| Total
expenditure |
199.82 |
180.51 |
482.06 |
396.26 |
634.21 |
| Interest |
11.19 |
11.37 |
32.76 |
36.14 |
46.26 |
| Depreciation |
5.68 |
5.57 |
16.82 |
16.40 |
23.28 |
| Amortisation |
6.43 |
0.27 |
11.28 |
0.80 |
5.11 |
| Profit
/ (Loss) before extraordinary item |
6.45 |
10.00 |
(2.42) |
0.11 |
18.16 |
| Extraordinary
item - VRS cost |
1.24 |
- |
3.44 |
- |
- |
|
|
| Profit
/ (Loss) before taxes |
5.21 |
10.00 |
(5.86) |
0.11 |
18.16 |
| Income
taxes - Current tax |
0.64 |
0.04 |
0.64 |
0.04 |
6.12 |
| -
Deferred tax |
0.01 |
2.97 |
(2.90) |
(0.45) |
(1.05) |
|
|
| Profit
/ (Loss) after taxes |
4.56 |
6.99 |
(3.60) |
0.52 |
13.09 |
|
|
| Paid-up
equity share capital (face value: Rs.10
per share) |
42.28 |
42.28 |
42.28 |
42.28 |
42.28 |
| Paid-up
preference share capital |
40.00 |
40.00 |
40.00 |
40.00 |
40.00 |
| Reserves
excluding revaluation reserves |
- |
- |
- |
- |
82.42 |
| Basic
and diluted earnings per equity share
(Rupees) |
0.87 |
1.44 |
(1.49) |
(0.54) |
2.20 |
| Aggregate
of Non-Promoter shareholding |
|
|
|
|
|
| -
Number of shares |
19,078,141 |
19,078,141 |
19,078,141 |
19,078,141 |
19,078,141 |
| -
Percentage of shareholding |
45.1% |
45.1% |
45.1% |
45.1% |
45.1% |
|
Segment
Results
| Particulars |
Quarter
ended
31-12-2002 |
Quarter
ended
31-12-2001 |
Nine
months
ended
31-12-2002 |
Nine
months
ended
31-12-2001 |
Year
ended
31-3-2002
(Audited) |
| Net
sales / Income from segments |
|
|
|
|
|
| Watches
& Clocks |
124.04 |
122.47 |
307.16 |
277.19 |
458.74 |
| Jewellery |
105.18 |
85.26 |
232.75 |
172.19 |
267.72 |
|
|
| Total |
229.22 |
207.73 |
539.91 |
449.38 |
726.46 |
|
|
| Profit
/ (Loss) from segments before interest
and taxes |
|
|
|
|
|
| Watches
& Clocks |
13.76 |
17.13 |
23.09 |
28.00 |
51.52 |
| Jewellery |
3.52 |
4.36 |
6.72 |
8.35 |
12.80 |
|
|
|
Total |
17.28 |
21.49 |
29.81 |
36.35 |
64.32 |
| Less
: Interest attributable to segments |
10.86 |
10.64 |
31.87 |
33.84 |
43.64 |
| Operating
profit / (loss) from segments |
6.43 |
10.85 |
(2.06) |
2.51 |
20.68 |
|
|
| Less
: Extraordinary item - VRS cost |
1.24 |
- |
3.43 |
- |
- |
| Profit
/ (Loss) from segments before taxes |
5.19 |
10.85 |
(5.49) |
2.51 |
20.68 |
| Unallocable
expenditure net of unallocable income |
0.02 |
(0.85) |
(0.37) |
(2.40) |
(2.52) |
|
|
| Profit
/ (Loss) before taxes |
5.21 |
10.00 |
(5.86) |
0.11 |
18.16 |
| Capital
employed in segments |
|
|
|
|
|
| Watches
& Clocks |
510.41 |
485.08 |
510.41 |
485.08 |
470.81 |
| Jewellery |
86.70 |
147.59 |
86.70 |
147.59 |
135.87 |
| Others
(Corporate) |
46.79 |
46.71 |
46.79 |
46.71 |
45.88 |
|
|
|
Total |
643.90 |
679.38 |
643.90 |
679.38 |
652.56 |
Notes:
- Both watch and jewellery sales recorded
encouraging growth over the same period
last year.
- The Company introduced a voluntary retirement
scheme (VRS) for its employees, the cost
of which is being amortised over a period
of five years.
- Amortisation costs include additional
outgoings on brand building and related
outlays for the European operations, and
one-time consultancy charges for long-term
operating and strategic initiatives.
- Consequent to the Accounting Standard
AS 22 on 'Accounting for taxes on income'
becoming mandatory effective 1st April
2001, the Company had adjusted the cumulative
deferred tax liability of Rs.45.63 crores
against the reserves as on 1st April 2001.
Deferrred tax for the nine months ended
31st December 2002 has been accounted
and disclosed above.
- The figures of the previous period have
been regrouped / recast, where necessary.
The above statement
of financial results was taken on record
by the Board of Directors at their meeting
held on 25th January 2003.
|
