|
Unaudited
financial results (provisional) for the
period ended 30 June 2001
|
(Rupees
in crore)
|
| Particulars |
Quarter
ended
30-6-2001
|
Quarter
ended
30-6-2000
|
Year
ended
31-3-2001
(Audited)
|
| Net
sales / income from operations |
102.27
|
113.96
|
696.90
|
| Other
income |
0.53
|
9.94
|
11.63
|
|
|
| Total
income |
102.80
|
123.90
|
708.53
|
| Expenditure |
|
|
|
| (Increase)
/ decrease in stock in trade |
(22.74)
|
(18.77)
|
28.27
|
| Consumption
of raw materials |
66.76
|
71.90
|
341.19
|
| Excise
duty |
14.08
|
12.64
|
58.13
|
| Staff
cost |
17.85
|
17.90
|
74.07
|
| Advertising
|
7.94
|
10.73
|
40.10
|
| Exchange
loss / (gain) |
1.46
|
(0.74)
|
3.76
|
| Other
expenditure |
14.27
|
13.37
|
68.67
|
|
|
| Total
expenditure |
99.62
|
107.03
|
614.19
|
| Interest |
12.51
|
11.25
|
47.84
|
| Depreciation |
5.28
|
5.47
|
20.93
|
|
|
| Profit
/ (Loss) before taxes |
(14.61)
|
0.15
|
25.57
|
| Taxes |
-
|
0.02
|
2.09
|
|
|
| Profit
/ (Loss) after taxes |
(14.61)
|
0.13
|
23.48
|
| Paid-up
equity share capital (face value: Rs.10
per share) |
42.28
|
42.28
|
42.28
|
| Paid-up
preference share capital |
36.00
|
40.00
|
40.00
|
| Reserves
excluding revaluation reserves |
-
|
-
|
125.09
|
| Basic
and diluted earnings per equity share
(Rupees) |
(3.69)
|
0.01
|
4.41
|
| Aggregate
of non-promoter shareholding |
|
|
|
| -
Number of shares |
19,053,141
|
18,996,643
|
18,996,643
|
| -
Percentage of shareholding |
45.1%
|
44.9%
|
44.9%
|
Notes
- Despite
an increase in market share, watch sales
declined due to trade downstocking and
macro-economic conditions. Jewellery sales
recorded continuing growth.
- The
first quarter results in the previous
year included profit on sale of shares
amounting to Rs.9.66 crores.
- Historically,
the first quarter results are not an indication
of full year performance. Sales and profit
are skewed to the subsequent quarters
when trade purchases peak to meet consumer
demand in the festival and marriage seasons
that follow.
- The
Company had redeemed 12,70,000 Preference
Shares aggregating Rs.12.70 crores during
June 2001 and has re-issued these in June
and July 2001. The paid-up Preference
Share Capital therefore continues to be
Rs.40 crores on the date of this announcement
- In
accordance with the requirement of the
new Accounting Standard AS 22 relating
to the compulsory provision for deferred
taxation (arising mainly from the difference
between book depreciation and income-tax
depreciation) the tax provision for the
quarter ended 30th June 2001 would have
been lower by Rs.0.28 crore. The deferred
tax provision relating to previous years
amounting to Rs.47.79 crores has been
adjusted against the reserves as on 1st
April 2001 and the reserves now stand
at Rs.77.30 crores.
- 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 30th July 2001.
|
