|
Voltas
Audited
financial results for the twelve months ended 31st March,
2005
(Rs.
in Lakhs) |
| Particulars |
Nine
Months
Ended
31.12.2004 |
Three
Months
Ended
31.03.2005 |
Three
Months
Ended
31.03.2004 |
Year
ended
31.03.2005
( Audited) |
Year
ended
31.03.2004
( Audited) |
| 1. |
Net
Sales/ Income from Operations |
94173 |
49970 |
40740 |
144143 |
132994 |
| 2. |
Other
Income |
1771 |
476 |
676 |
2247 |
1927 |
| 3. |
Total
Expenditure |
|
|
|
|
|
| |
a.
(Increase)/Decrease in stock in trade and jobs in
progress |
(628) |
(755) |
(161) |
(1383) |
(1773) |
| |
b.
Consumption of raw materials |
66175 |
38301 |
29718 |
104476 |
96662 |
|
c.
Staff Cost |
10116 |
4319 |
3221 |
14435 |
12619 |
|
d.
Excise Duty |
4284 |
1193 |
2182 |
5477 |
5674 |
|
e.
Other expenditure |
11760 |
4929 |
4338 |
16689 |
16536 |
| |
Total |
91707 |
47987 |
39298 |
139694 |
129718 |
| 4. |
Interest
(Net) |
369 |
17 |
64 |
386 |
180 |
| 5. |
Depreciation |
803 |
245 |
338 |
1048 |
1325 |
| 6. |
Profit
before tax and Exceptional items |
3065 |
2197 |
1716 |
5262 |
3698 |
| 7. |
Exceptional
Items ( Net ) |
393 |
111 |
627 |
504 |
989 |
| 8. |
Profit
before Taxation |
3458 |
2308 |
2343 |
5766 |
4687 |
| 9. |
Provision
for Taxation - Current |
300 |
186 |
218 |
486 |
430 |
| 10. |
Debit
/ (Credit ) for Deferred Taxation |
400 |
(161) |
194 |
239 |
354 |
| 11. |
Net
Profit after tax |
2758 |
2283 |
1931 |
5041 |
3903 |
| 12. |
Paid-up
equity share capital (Face value Rs 10/-) |
3305 |
3305 |
3305 |
3305 |
3305 |
| 13. |
Reserves
excluding revaluation reserves |
|
|
|
16046 |
15595 |
| 14. |
Basic
and Diluted Earning per share after Exceptional
items (Rs.) (*not annualised) |
*8.34 |
*6.90 |
*5.84 |
15.24 |
11.80 |
| 15. |
Aggregate
of non - promoter shareholding |
|
|
|
|
|
| |
-
Number of shares |
23910852 |
23910852 |
23910852 |
23910852 |
23910852 |
| |
-
Percentage of shareholding |
72.26 |
72.26 |
72.26 |
72.26 |
72.26 |
Notes:
- Exceptional
Items (Net) for the year ended 31st March, 2005 comprise
: Profit on sale of properties / transfer of developmental
rights on property / compensation on surrender of
tenancy rights - Rs 1362.04 lakhs. (previous year
- Rs 4789.98 lakhs), Profit on sale of trade investments
Rs. 74.05 lakhs (previous year -Rs. 5.11 lakhs ),
Provision for diminution in value of investments -
Rs. 261.30 lakhs (previous year - Rs. 7.97 lakhs),
Charge of Rs.353.31 lakhs towards VRS expenses (previous
year - Rs 3507.98 lakhs), Loss on revaluation of assets
of discontinued business Rs. 17.22 lakhs (previous
year - Rs. 10.90 lakhs), Provision for contingency
- Rs 300 lakhs (previous year - Rs 225 lakhs) and
Others - Nil (previous year- Rs. 53.95 lakhs debit)
- Accounting
Standard (AS) 28 came into force on 1st April, 2004
and the Company has estimated an impairment of assets
of Rs.4072 lakhs as on that date. In accordance with
the Transitional Provision in the Standard, an amount
of Rs. 2701 lakhs net of Deferred Tax Asset of Rs.
1371 lakhs is adjusted against the opening balance
of Revenue Reserves.
- Provision
for taxation for the year ended 31st March, 2005,
includes foreign income tax of Rs. 9.15 lakhs (previous
year Rs.44.64 lakhs) and Wealth tax of Rs.12 lakhs
(previous year Rs.25.61 lakhs)
- The
Board of Directors have recommended a dividend of
50 % for the year 2004-05 (previous year 30%) including
special golden jubilee dividend of 15 %.
- The
above results have been reviewed by the Board Audit
Committee and were taken on record by the Board of
Directors at its Meeting held on 20th June, 2005.
- There
were no investor complaints pending as on 1st January
2005 or 31st March 2005. The Company had received
three complaints during the quarter ended 31st March,
2005 which were attended to and resolved.
Audited
consolidated financial results for the Twelve Months
ended 31st March, 2005
|
(Rs.
in Lakhs) |
| Particulars |
Year
ended |
Year
ended |
| 31.03.2005 |
31.03.2004 |
| (
Audited) |
(
Audited) |
| 1.
Net Sales/ Income from Operations |
155079 |
143752 |
| 2.
Other Income |
2111 |
1791 |
| 3.
Total Expenditure |
|
|
| a.
( Increase)/Decrease in stock in trade and jobs
in progress |
(1669) |
(1770) |
| b.
Consumption of raw materials |
110479 |
101993 |
| c.
Staff Cost |
15464 |
13598 |
| d.
Excise Duty |
7372 |
7757 |
| e.
Other expenditure |
18115 |
18022 |
| Total |
149761 |
139600 |
| 4.
Interest (Net) |
590 |
335 |
| 5.
Depreciation |
1327 |
1595 |
| 6.
Profit before tax and Exceptional Items |
5512 |
4013 |
| 7.
Exceptional Items ( Net ) |
516 |
834 |
| 8.
Profit before Taxation |
6028 |
4847 |
| 9.
Provision for Taxation - Current |
524 |
462 |
| 10.
Debit / (Credit) for Deferred Taxation |
277 |
354 |
| 11.
Net Profit after tax |
5227 |
4031 |
| 12.
Minority Interest in consolidated Profit |
2 |
2 |
| 13.
Profit after Minority Interest |
5225 |
4029 |
| 14.
Paid-up equity share capital(Face value Rs 10/-) |
3305 |
3305 |
| 15.
Reserves excluding revaluation reserves |
18649 |
18174 |
16.Basic
and Diluted Earning per share after
Exceptional
items (Rs.) |
15.79 |
12.18 |
| 17.
Aggregate of non - promoter shareholding |
|
|
| -
Number of shares |
23910852 |
23910852 |
| -
Percentage of shareholding |
72.26 |
72.26 |
Notes
on Consolidated Financial Results for the year ended
31st March, 2005
- The following
Subsidiaries and Joint Ventures have been considered
for the purpose of preparing Consolidated Financial
Statements as per Accounting Standard on:
(a) Consolidated
Financial Statements (AS 21)
(b) Financial Reporting of Interests in Joint Ventures
(AS 27)
|
|
Name
of the Company |
Ownership
in %
either directly
or through
Subsidiaries |
| |
Subsidiaries
: |
|
| 1) |
Simto
Investment Company Ltd. |
95.18 |
| 2) |
Auto
Aircon (India) Ltd. |
100.00 |
| 3) |
Simtools
Ltd. (w.e.f. 23.08.2004) |
100.00 |
| 4) |
Metrovol
FZE |
100.00 |
| 5) |
VIL
Overseas Enterprises B.V. |
100.00 |
| 6) |
Voice
Antilles N. V. |
100.00 |
| |
Joint
Ventures : |
|
| 1) |
Universal
Comfort Products Private Ltd. |
50.00 |
| 2) |
Saudi
Ensas Company for Engineering Services Ltd. |
49.00 |
| 3) |
Universal
Voltas LLC |
49.00 |
| 4) |
Weathermaker
Ltd. |
49.00 |
| 5) |
Lalbuksh
Voltas Engineering Services & Trading LLC |
49.00 |
Place:
Mumbai
Dated: June 20, 2005 |
A.
Soni
Managing Director |
|
|
