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Quarterly Results |
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Unaudited
Financial Results
for the
Quarter ended 30th June, 2008 (Standalone)
Quarter ended |
Quarter ended |
Twelve |
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| GROSS INCOME |
5958.90 |
5248.31 |
21966.84 | |
| NET SALES TURNOVER | (1) |
3899.70 |
3293.83 |
13947.53 |
| OTHER INCOME | (2) |
114.35 |
101.57 |
610.90 |
| NET INCOME (1+2) | (3) |
4014.05 |
3395.40 |
14558.43 |
| EXPENDITURE |
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| a) (Increase) / decrease in stock-in-trade and work in progress | (48.37) |
(0.92) |
(5.69) | |
| b) Consumption of raw materials |
1336.20 |
1059.01 |
4639.35 | |
| c) Purchase of traded goods |
515.73 |
344.93 |
1383.04 | |
| d) Employees cost |
218.11 |
176.55 |
733.32 | |
| e) Depreciation | 126.11 | 101.03 | 438.46 | |
| f) Other expenditure | 750.91 | 586.70 | 2793.57 | |
| g) Total | (4) | 2898.69 | 2267.30 | 9982.05 |
| INTEREST (Net) | (5) |
1.41 |
(0.83) |
4.61 |
| PROFIT BEFORE TAX (3-4-5) | (6) |
1113.95 |
1128.93 |
4571.77 |
| Less: | ||||
| TAX EXPENSE | (7) |
365.28 |
346.06 |
1451.67 |
| PROFIT AFTER TAX (6-7) | (8) |
748.67 |
782.87 |
3120.10 |
| PAID UP EQUITY SHARE CAPITAL | (9) |
376.86 |
376.22 |
376.86 |
| (Ordinary shares of Re. 1/- each) | ||||
| RESERVES EXCLUDING REVALUATION RESERVES | (10) | - | - |
11624.69 |
| EARNING PER SHARE (Rs.) | (11) | |||
| - Basic (Rs.) |
1.99 |
2.08 |
8.29 | |
| - Diluted (Rs.) |
1.97 |
2.08 |
8.25 | |
| PUBLIC SHAREHOLDING | (12) | |||
| - NUMBER OF SHARES |
3742964017 |
3713677557 |
3741500893 | |
| - PERCENTAGE OF SHAREHOLDING |
99.32 |
98.71 |
99.28 | |
Notes :
| (i) |
The above results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 30th July, 2008. |
| (ii) |
Figures for the previous quarter have been re-arranged, wherever necessary, to conform to the figures for the current quarter. |
| (iii) | Gross Income comprises Segment Revenue and Other Income. |
| (iv) | Gross Income includes Rs. 1945 Crores for the quarter ended 30th June, 2008 being Excise Duties and other Local Taxes. (Corresponding previous quarter ended 30th June 2007 - Rs. 1853 Crores). |
| (v) | The launch costs of the Company's brands 'Fiama Di Wills', 'Vivel Di Wills', 'Superia' and 'Vivel' covering the range of personal care products of soaps, shampoos, conditioners 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) | During the quarter, one investor complaint was received, which was promptly attended to by the Company. No complaints were pending either at the beginning or at the end of the quarter. |
| (vii) | a) Provision for Taxation includes Rs. 6.22 Crores for Fringe Benefit Tax for the quarter ended 30th June, 2008 (Corresponding previous quarter ended 30th June, 2007 - Rs. 8.76 Crores). |
| b) Provision for Taxation is net of refunds as follows: Quarter ended 30th June 2008 - Rs. 2.31 Crores (Corresponding previous quarter ended 30th June, 2007 - Rs. 29.30 Crores). | |
| (viii) | The above is as per Clause 41 of the Listing Agreement. |
| Limited Review The Limited Review, as required under Clause 41 of the Listing Agreement has been completed and the related Report forwarded to the Stock Exchanges. This Report does not have any impact on the above 'Results and Notes' for the Quarter ended 30th June, 2008 which needs to be explained. |
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Segment-wise Revenue, Results and Capital Employed |
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(Rs. in Crores) |
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Quarter ended 30.06.2008 |
Quarter ended 30.06.2007 |
Twelve Months ended 31.03.2008 |
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| 1. Segment Revenue | |||
| a) FMCG - Cigarettes - Gross |
3636.10 |
3441.49 |
13825.60 |
| - Net | 1739.67 | 1637.68 | 6634.98 |
| - Others - Gross |
693.57 |
542.24 |
2511.05 |
| - Net | 691.39 | 542.24 | 2509.57 |
| Total FMCG - Gross |
4329.67 |
3983.73 |
16336.65 |
| - Net | 2431.06 | 2179.92 | 9144.55 |
| b) Hotels - Gross |
259.43 |
221.23 |
1100.20 |
| - Net | 238.97 | 203.88 | 1012.10 |
| c) Agri Business - Gross |
1834.49 |
1386.66 |
3868.44 |
| - Net |
1834.49 |
1386.66 |
3868.44 |
| d) Paperboards,
Paper & Packaging - Gross |
651.73 |
526.18 |
2364.33 |
| - Net |
605.92 |
478.76 |
2157.94 |
| Total - Gross |
7075.32 |
6117.80 |
23669.62 |
| - Net |
5110.44 |
4249.22 |
16183.03 |
| Less : Inter-segment revenue - Gross |
1230.77 |
971.06 |
2313.68 |
| - Net |
1210.74 |
955.39 |
2235.50 |
| Gross sales / Income from operations |
5844.55 |
5146.74 |
21355.94 |
| Net sales / Income from operations |
3899.70 |
3293.83 |
13947.53 |
| 2. Segment Results | |||
| a) FMCG - Cigarettes |
961.41 |
939.10 |
3634.04 |
| - Others |
(122.61) |
(44.64) |
(263.52) |
| Total FMCG |
838.80 |
894.46 |
3370.52 |
| b) Hotels |
85.27 |
64.26 |
410.77 |
| c) Agri Business |
76.54 |
54.48 |
129.19 |
| d) Paperboards, Paper & Packaging |
123.43 |
86.58 |
453.14 |
| Total |
1124.04 |
1099.78 |
4363.62 |
| Less : i) Interest (Net) |
1.41 |
(0.83) |
4.61 |
| ii) Other net un-allocable expenditure /(income) | 8.68 | (28.32) | (212.76) |
| Profit Before Tax |
1113.95 |
1128.93 |
4571.77 |
| Provision for Taxation |
365.28 |
346.06 |
1451.67 |
| Profit After Tax |
748.67 |
782.87 |
3120.10 |
| 3. Capital Employed | |||
| a) FMCG - Cigarettes * | 2602.85 | 2059.20 |
2314.64 |
| - Others | 2381.07 | 1556.87 |
1826.66 |
| Total FMCG | 4983.92 | 3616.07 |
4141.30 |
| b) Hotels | 1917.43 | 1512.49 |
1865.32 |
| c) Agri Business | 1286.17 | 1441.26 |
1468.97 |
| d) Paperboards, Paper & Packaging |
3434.01 | 2699.61 |
3264.18 |
| Total Segment Capital Employed | 11621.53 | 9269.43 |
10739.77 |
| * Before considering provision of Rs. 616.77 Crores (30.06.2007 - Rs. 560.26 Crores) in respect of disputed State taxes, the levy/collection of which has been stayed. | ||||
| 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. |
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| (2) | The business groups comprise the following : | |||
| FMCG | : Cigarettes | - | Cigarettes & Smoking Mixtures. | |
| : Others | - |
Branded Packaged Foods (Staples, Biscuits, Confectionery, Snack Foods and Ready to Eat Foods), Garments, Educational and other Stationery, Matches, Agarbattis and Personal Care products. |
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| 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. | ||
| (3) | Segment results of the new business activities namely 'FMCG : Others' largely reflect business development and gestation costs. | |||
| (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 are after absorbing costs relating to the strategic e-Choupal initiative. |
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| (5) | Figures for the corresponding previous quarter have been re-arranged, wherever necessary, to conform to the figures of the current quarter. | |||
Registered
Office: Dated : 30th July, 2008 |
For and on behalf of the Board
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