|
Unaudited consolidated financial results ( provisional ) for three months ended September 30, 2004
|
Rs in crore |
|
Particulars |
Three months ended
September 30 |
Six months ended
September 30 |
Previous
Year ended |
|
2004 |
2003 |
2004 |
2003 |
March 31, 2004 |
|
Income from Operations |
756.07 |
701.01 |
1463.06 |
1380.40 |
3085.74 |
|
Income from Investments |
12.58 |
4.13 |
13.17 |
14.42 |
25.02 |
|
Total Income |
768.65 |
705.14 |
1476.23 |
1394.82 |
3110.76 |
|
Total Expenditure |
611.03 |
571.17 |
1185.93 |
1131.35 |
2594.94 |
|
Profit before Interest and Depreciation |
157.62 |
133.97 |
290.30 |
263.47 |
515.82 |
|
Interest (Net) |
33.37 |
31.07 |
64.55 |
63.23 |
132.04 |
|
Gross Profit after Interest but |
|
|
|
|
|
|
before Depreciation and Taxation |
124.25 |
102.90 |
225.75 |
200.24 |
383.78 |
|
Depreciation |
19.55 |
20.06 |
38.44 |
39.86 |
82.68 |
|
Profit before Tax |
104.70 |
82.84 |
187.31 |
160.38 |
301.10 |
|
Provision for Taxation |
31.32 |
26.23 |
57.90 |
50.20 |
90.64 |
|
Profit after Tax |
73.38 |
56.61 |
129.41 |
110.18 |
210.46 |
|
Share of Profit/(Loss) in Associated Undertakings* |
4.29 |
(6.22) |
4.29 |
(6.22) |
2.93 |
|
Minority Interest |
1.53 |
1.34 |
2.64 |
3.19 |
8.39 |
|
Group Consolidated Profit |
76.14 |
49.05 |
131.06 |
100.77 |
205.00 |
|
Paid up Equity Share Capital(face value of Rs 10 each) |
56.22 |
56.22 |
56.22 |
56.22 |
56.22 |
|
Earnings per share(Not annualised) - Rs |
13.54 |
8.72 |
23.31 |
17.92 |
36.46 |
Notes:
1. The Companys branded tea portfolio continued to witness a healthy growth during the quarter ended September 30, 2004 which together with higher realizations from own garden teas in the auctions, contributed to increased Income from Operations by 16% over the same quarter of the preceding year.
2. The Profit before Tax at Rs 69.81 crores and the Profit after Tax at Rs 53.20 crores for the quarter were 57% and 52% higher, respectively, than the profits of the corresponding quarter of the preceding year.
3. Income from Investments is higher during the quarter ended September 30,2004 as it includes dividend of Rs 8.46 crores which dividend in the previous year, was received in the first quarter.
4. Increase in operating expenditure during the quarter as well as the six months ended September 30, 2004 is commensurate with the higher sales and also due to higher utilization of bought teas in blends.
5. In view of the seasonality of the cropping pattern in the North India Plantation operations and in accordance with the accounting practice consistently followed in the past for quarterly and half yearly results, stock of teas in the North India plantation operations as on September 30, 2004 has been valued at the lower of budgeted cost of production (full year production and expenditure) and net realizable value.
6. Particulars of complaints received from investors during the quarter, complaints resolved and those pending are as follows:-
|
Particulars of complaints |
Numbers |
|
Outstanding as on July 1, 2004 |
- |
|
Received during the quarter |
1 |
|
Resolved during the quarter |
1 |
|
Outstanding as on September 30, 2004 |
- |
7. Figures of the quarter and half year ended September 30, 2004 and full year ended March 31, 2004 have been regrouped to make them comparable.
8. The aforementioned results were reviewed by the Audit Committee of the Board and taken on record by the Board of Directors at its meeting held on October 29,2004. Limited review of these results, as required under Clause 41 of the listing agreement, has been completed by the auditors.
Segment wise Revenue, Results and Capital Employed, under Clause 41,of the Listing Agreement for three months ended September 30, 2004
|
|
Particulars |
Three months ended
September 30 |
Six months ended
September 30 |
Year ended
March 31 |
|
2004 |
2003 |
2004 |
2003 |
2004 |
|
1 |
Segment Revenue |
|
|
|
|
|
|
|
(a)Tea |
229.37 |
195.19 |
429.75 |
371.97 |
755.68 |
|
|
(b)Others |
4.77 |
8.39 |
9.22 |
14.54 |
26.25 |
|
|
|
234.14 |
203.58 |
438.97 |
386.51 |
781.93 |
|
|
Less: Inter Segment Revenue |
- |
- |
- |
- |
- |
|
|
Net Segment Revenue |
234.14 |
203.58 |
438.97 |
386.51 |
781.93 |
|
2 |
Segment Results |
|
|
|
|
|
|
|
(a)Tea |
64.22 |
48.55 |
102.44 |
78.01 |
108.71 |
|
|
(b)Others |
(0.80) |
0.02 |
(1.28) |
(0.69) |
(0.52) |
|
|
|
63.42 |
48.57 |
101.16 |
77.32 |
108.19 |
|
|
Less: Interest(net) |
2.31 |
2.28 |
4.51 |
4.61 |
9.94 |
|
|
Add : Unallocable income net of unallocable |
|
|
|
|
|
expenditure |
8.70 |
(1.70) |
3.44 |
1.33 |
21.98 |
|
|
Total Profit before Tax |
69.81 |
44.59 |
100.09 |
74.04 |
120.23 |
|
3 |
Segment Capital Employed |
|
|
|
|
|
|
|
(a)Tea |
412.74 |
450.71 |
412.74 |
450.71 |
356.75 |
|
|
(b)Others |
4.24 |
5.90 |
4.24 |
5.90 |
6.31 |
Notes:
- The definitions of the internal business segmentation and the activitities encompassed therein are as follows:
Tea: Cultivation & manufacture of black tea and instant tea,tea buying / blending and sale of tea in bulk or value
Others: Cultivation & production of coffee, other minor crops, trading in commodities etc.
- The segment wise revenue, results and capital employed figures relate to the respective amounts directly identifiable to each of the segments. Unallocable expenditure includes expenses incurred on common services at the corporate level and relate to the Company as a whole. Unallocable income comprises of income from investments.
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