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Quarterly Results

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Audited Financial Results for the
Twelve Months ended 31st March, 2011

(` in Crores)

  STANDALONE CONSOLIDATED
  Quarter ended 31.03.2011 Quarter ended 31.03.2010 Twelve Months ended 31.03.2011 Twelve Months ended 31.03.2010 Twelve Months ended 31.03.2011 Twelve Months ended 31.03.2010
GROSS  INCOME   8459.98 7307.10 31423.23 26874.34 32854.75 28254.93
NET SALES (1) 5836.26 5053.79 21167.58 18153.19 22273.66 19135.87
OTHER OPERATING
INCOME		 (2) 123.73 87.95 300.67 239.18 311.88 269.36
NET INCOME (1+2) (3) 5959.99 5141.74 21468.25 18392.37 22585.54 19405.23
EXPENDITURE              
a) (Increase) / decrease
in stock-in-trade and
work in progress		   115.37 202.87 (254.29) 175.24 (258.35) 194.61
b) Consumption
of raw materials		   1862.16 1538.26 7000.99 5815.27 7160.04 5968.67
c) Purchase of
traded goods		   480.08 417.05 1379.80 1016.75 1216.68 823.68
d) Employees
cost		   278.97 255.84 1159.41 1002.77 1726.11 1466.03
e) Depreciation   164.22 153.86 655.99 608.71 699.09 643.90
f) Other
expenditure		   1310.57 1099.60 4728.23 4069.13 5021.51 4358.54
g) Total (4) 4211.37 3667.48 14670.13 12687.87 15565.08 13455.43
PROFIT FROM
OPERATIONS BEFORE
OTHER INCOME AND
INTEREST (3-4)		 (5) 1748.62 1474.26 6798.12 5704.50 7020.46 5949.80
OTHER INCOME (6) 102.16 60.43 518.17 375.56 464.63 360.89
PROFIT BEFORE
INTEREST (5+6)		 (7) 1850.78 1534.69 7316.29 6080.06 7485.09 6310.69
INTEREST (Net) (8) 14.01 29.90 48.13 64.75 50.22 64.98
PROFIT AFTER
INTEREST AND
BEFORE TAX  (7-8)		 (9) 1836.77 1504.79 7268.16 6015.31 7434.87 6245.71
Less:              
TAX EXPENSE (10) 555.29 476.57 2280.55 1954.31 2365.45 2034.93
PROFIT AFTER TAX
BEFORE SHARE OF
PROFIT/(LOSS) OF ASSOCIATES AND
MINORITY
INTERESTS (9-10)		 (11) 1281.48 1028.22 4987.61 4061.00 5069.42 4210.78
SHARE OF
PROFIT/(LOSS) OF
ASSOCIATES		 (12)  N.A.  N.A.  N.A.  N.A. 9.61 6.24
PROFIT AFTER TAX
BEFORE MINORITY
INTERESTS (11+12)		 (13) 1281.48 1028.22 4987.61 4061.00 5079.03 4217.02
MINORITY INTERESTS (14)  N.A.  N.A.  N.A.  N.A. 61.10 48.84
NET PROFIT AFTER
TAX  (13-14)		 (15) 1281.48 1028.22 4987.61 4061.00 5017.93 4168.18
PAID UP EQUITY
SHARE CAPITAL		 (16) 773.81 381.82 773.81 381.82 773.81 381.82
(Ordinary shares
of ` 1/- each)		              
RESERVES
EXCLUDING
REVALUATION
RESERVES		 (17)                  -                      -   15126.12 13628.17 15585.73 14017.27
EARNINGS PER
SHARE (`)		 (18)            
- Basic (`)   1.66 1.35 6.49 5.34 6.53 5.48
- Diluted  (`)   1.65 1.31 6.41 5.28 6.45 5.42
PUBLIC SHAREHOLDING (19)            
- NUMBER OF
SHARES		   7712612856 3803475806 7712612856 3803475806 7712612856 3803475806
- PERCENTAGE OF
SHAREHOLDING		   99.67 99.61 99.67 99.61 99.67 99.61
PROMOTERS AND
PROMOTER GROUP
SHAREHOLDING		 (20) Nil Nil Nil Nil Nil Nil
a) Pledged / Encumbered   N.A. N.A. N.A. N.A. N.A. N.A.
b) Non - encumbered   N.A. N.A. N.A. N.A. N.A. N.A.

Notes :

i. The audited Financial Results and Segment Results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 20th May, 2011.
ii. Figures for the previous periods are re-arranged, wherever necessary, to conform to the figures for the current period. The Company does not have any Exceptional or Extraordinary item to report for the above periods.
iii. Gross Income comprises Gross sales / Income from operations, Other Operating Income and Other Income.
iv. Gross Income reported in the Standalone Financial Results includes ` 2397.83 Crores and ` 9436.81 Crores for the quarter and twelve months ended 31st March, 2011 respectively, being Excise Duties and Taxes on Sales of Services. (Corresponding previous quarter and twelve months ended 31st March, 2010- ` 2104.93 Crores and ` 8106.41 Crores respectively).
v. The launch and rollout costs of the Company's brands 'Fiama Di Wills', 'Vivel Di Wills', 'Vivel' and 'Superia' covering the range of personal care products of soaps, shampoos, conditioners, skin care and shower gels, and the continuing significant brand building costs of the Foods business are reflected under 'Other expenditure' stated above and in Segment Results under 'FMCG-Others'.
vi. Pursuant to the issue and allotment of Bonus shares by the Company on 6th August, 2010, the earnings per share (Basic and Diluted) have been adjusted for all the above periods.
vii. During the quarter, 3,21,97,000 Ordinary Shares of ` 1/- each were issued and allotted under the Company’s Employee Stock Option Schemes. Consequently, the issued and paid-up Share Capital of the Company as on 31st March, 2011 stands increased to ` 7,73,81,44,280/-.
viii. During the quarter, no investor complaint was received by the Company. There were no complaints pending at the beginning of the quarter.
ix. This statement is as per Clause 41 of the Listing Agreement.

 

Disclosure as required under other clauses of the Listing Agreement

    (` in Crores)
     
  Twelve Months Ended 31.03.2011 Twelve Months Ended 31.03.2010
NET PROFIT 4987.61 4061.00
PROFIT BROUGHT FORWARD 61.31 858.14
AVAILABLE FOR APPROPRIATION 5048.92 4919.14
APPROPRIATION OF PROFIT AND RESERVE    
a) Transfer to General Reserve 498.76 406.10
b) Earlier Year's provision no longer required * (0.60) (0.60)
c) Profit carried forward 548.67 61.31
DIVIDEND INCLUDING DIVIDEND TAX    
 - Ordinary Dividend 2518.17 2003.55
 - Special Dividend 1483.92 @ 2448.78 #

* Pertains to Dividend Distribution Tax
# Centenary Dividend
@ On the occasion of 100th Annual General Meeting

Note:

i. The above was approved at the meeting of the Board of Directors of the Company held on 20th May 2011.
ii. The Board of Directors of the Company has recommended a special dividend of ` 1.65 per Ordinary Share of ` 1/- each and a dividend of ` 2.80 per Ordinary Share of ` 1/- each for the financial year ended 31st March, 2011 and the dividend, if declared, will be paid on 1st August, 2011 to those members entitled thereto.
iii. The Register of Members of the Company shall remain closed from Tuesday, 14th June, 2011 to Tuesday, 21st June, 2011, both days inclusive.
iv. The 100th Annual General Meeting of the Company has been convened for Friday, 29th July, 2011.

 

Segment-wise Revenue, Results and Capital Employed for the
Twelve Months ended 31st March, 2011

(` in Crores)

  STANDALONE CONSOLIDATED
  Quarter
ended
31.03.2011		 Quarter
ended
31.03.2010		 Twelve
Months
ended
31.03.2011		 Twelve
Months
ended
31.03.2010		 Twelve
Months
ended
31.03.2011		 Twelve
Months
ended
31.03.2010
1. Segment Revenue            
a) FMCG - Cigarettes
- Gross		 5111.13 4516.80 19827.56 17283.03 20721.27 18111.83
- Net 2767.34 2452.95 10573.67 9321.15 11130.93 9796.37
- Others
- Gross		 1314.82 1125.27 4482.35 3641.68 4504.03 3661.26
- Net 1312.51 1122.70 4471.63 3633.90 4476.89 3653.47
Total FMCG - Gross 6425.95 5642.07 24309.91 20924.71 25225.30 21773.09
- Net 4079.85 3575.65 15045.30 12955.05 15607.82 13449.84
b) Hotels
- Gross		 324.31 274.28 1077.39 910.81 1149.36 977.95
- Net 300.33 256.21 1000.82 850.71 1066.35 912.17
c) Agri
Business
- Gross		 1081.83 988.09 4747.99 3862.14 4747.99 3862.14
- Net 1081.83 988.09 4747.99 3862.14 4747.99 3862.14
d) Paperboards,
Paper &
Packaging
- Gross		 961.48 836.01 3666.88 3233.61 3666.88 3233.61
- Net 916.96 802.99 3507.21 3107.79 3503.02 3104.23
e) Others
  - Gross		 - - - - 780.00 715.66
 - Net - - - - 753.69 677.35
Total
- Gross		 8793.57 7740.45 33802.17 28931.27 35569.53 30562.45
- Net 6378.97 5622.94 24301.32 20775.69 25678.87 22005.73
Less :  Inter
-segment
revenue
- Gross		 559.48 581.73 3197.78 2671.67 3491.29 2937.77
- Net 542.71 569.15 3133.74 2622.50 3405.21 2869.86
Gross sales
/ Income
from operations		 8234.09 7158.72 30604.39 26259.60 32078.24 27624.68
Net sales
/ Income
from operations		 5836.26 5053.79 21167.58 18153.19 22273.66 19135.87
2. Segment
Results		            
a) FMCG
- Cigarettes		 1470.60 1251.22 5766.75 4938.12 6000.92 5106.71
 - Others (67.84) (78.69) (297.59) (349.51) (331.52) (380.34)
Total FMCG 1402.76 1172.53 5469.16 4588.61 5669.40 4726.37
b) Hotels 99.57 78.20 266.56 216.64 283.30 231.38
c) Agri
Business		 99.75 69.70 566.29 447.75 566.29 447.75
d) Paperboards,
Paper & Packaging		 193.72 168.82 819.24 684.26 819.24 684.26
e) Others - -    -   - 57.65 102.06
Total 1795.80 1489.25 7121.25 5937.26 7395.88 6191.82
Less :
i) Interest
(Net)		 14.01 29.90 48.13 64.75 50.22 64.98
ii) Other
un-allocable
income net of
un-allocable
expenditure		 (54.98) (45.44) (195.04) (142.80) (89.21) (118.87)
Profit
Before Tax		 1836.77 1504.79 7268.16 6015.31 7434.87 6245.71
Tax Expense 555.29 476.57 2280.55 1954.31 2365.45 2034.93
Profit
After Tax		 1281.48 1028.22 4987.61 4061.00 5069.42 4210.78
3. Capital
Employed		          
a) FMCG
- Cigarettes *		   3062.14 2960.79 3283.39 3066.55
 - Others     1897.12 1666.35 1980.08 1788.99
Total FMCG     4959.26 4627.14 5263.47 4855.54
b) Hotels     2728.44 2457.35 2833.65 2520.60
c) Agri
Business		   1561.65 1579.56 1615.61 1626.61
d) Paperboards,
Paper & Packaging		   3770.12 3711.27 3760.97 3699.98
e) Others   - - 867.05 876.63
Total Segment
Capital Employed		     13019.47 12375.32 14340.75 13579.36

* Segment Liabilities of FMCG-Cigarettes is before considering ` 755.60 Crores (31.03.2010 - ` 628.64 Crores) in respect of disputed Taxes, the recovery of which has been stayed or where States' Special Leave Petitions are pending before the Supreme Court.

 

Notes:
(1) The Company's corporate strategy aims at creating multiple drivers of growth anchored on its core competencies. The Company is currently focused on four business groups : FMCG, Hotels, Paperboards, Paper & Packaging and Agri Business. The Company's organisational structure and governance processes are designed to support effective management of multiple businesses while retaining focus on each one of them.
(2) The business groups comprise the following :
FMCG : Cigarettes - Cigarettes, Cigars & Smoking Mixtures.
: Others - Branded Packaged Foods (Staples, Biscuits, Confectionery, Snack Foods, Noodles, Ready to Eat Foods), Garments, Educational and other Stationery products, Matches, Agarbattis and Personal Care products.
Hotels - Hoteliering.
Paperboards, Paper & Packaging - Paperboards, Paper including Specialty Paper & Packaging including Flexibles.
Agri Business - Agri commodities such as rice, soya, coffee and leaf tobacco.
Others (In Consolidated Segment) - Information Technology services, Filter Rods, Investments etc.
   
(3) Segment results of 'FMCG : Others' are after considering significant business development, brand building and gestation costs of Branded Packaged Foods and Personal Care Products businesses.
(4) The Company's Agri Business markets agri commodities in the export and domestic markets; supplies agri raw materials to the Branded Packaged Foods Business and sources leaf tobacco for the Cigarettes Business. The segment results for the quarter/twelve months are after absorbing costs relating to the strategic e-Choupal initiative.
(5) Figures for the corresponding previous periods are re-arranged, wherever necessary, to conform to the figures of the current period.
Registered Office :
Virginia House, 37 J.L. Nehru Road,
Kolkata 700 071, India
Dated : 20th May, 2011
Place : Kolkata, India

For and on behalf of the Board

Executive Director

Chairman

 

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Financial Results December 2011
Financial Results September 2011 | Financial Results June 2011
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