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Press
release
Godrej Industries Limited (formerly Godrej
Soaps Limited)
Unaudited financial results for the quarter ended
June 30, 2001 |
(figures in Rs-lakhs)
|
|
Particulars |
Quarter
ended
June 30, 2001
|
Quarter
ended
June 30, 2000
|
Year
ended
March 31, 2001
|
|
|
(unaudited)
|
(unaudited)
|
(audited)
|
| 1 |
Income
from operations |
10,509 |
19,941 |
89,002 |
| 2 |
Other
income |
11 |
70 |
324 |
| 3 |
Expenditure |
8,156 |
16,983 |
75,287 |
| |
a) Increase / decrease in stock in trade |
106 |
965 |
1,453 |
|
b) Consumption of raw materials and purchase
of goods |
4,472 |
7,860 |
38,061 |
| |
d) Staff cost |
1,170 |
1,433 |
6,020 |
|
e) Excise duties |
822 |
2,236 |
9,352 |
| |
f) Advertising and sales promotion |
5 |
2,015 |
8,563 |
|
g) Other expenditure |
1,581 |
2,474 |
11,838 |
| 4 |
Profit
before depreciation interest and tax |
2,364 |
3,028 |
14,039 |
| 5 |
Interest
and financial charges (net) |
618 |
962 |
3,711 |
| 6 |
Depreciation |
450 |
546 |
2,531 |
| 7 |
Profit
before taxation |
1,296 |
1,520 |
7,797 |
| 8 |
Exceptional
items (expenses) |
- |
- |
(3,381) |
| 9 |
Provision
for taxation |
178 |
80 |
350 |
| 10 |
Profit
after tax |
1,118 |
1,440 |
4,065 |
| 11 |
Paid-up
equity share capital |
3,585 |
5,979 |
5,979 |
| 12 |
Reserves
excluding revaluation reserves |
|
|
23,547 |
| 13 |
EPS (Rs; not annualised; par values of shares
reduced to Rs 6 from Rs 10 effective April
1, 2001) |
1.87 |
2.41 |
6.84 |
| 14 |
Aggregate
of non-promoter shareholding: |
|
|
|
|
Number
of shares |
1,90,12,264 |
|
1,90,15,264 |
| |
Percentage
of shareholding |
31.78 |
|
31.78 |
| |
Notes:
1.
These results were taken on record at
the meeting of the board of directors
of the company. The meeting was held on
July 28, 2001.
2. Effective April 1, 2001, the consumer
products business of Godrej Soaps Limited
(GSL) has been demerged into Godrej Consumer
Products Limited (GCPL). Effective April
2, 2001, GSL has been renamed as Godrej
Industries Limited. Figures for the quarter
ended June 30, 2000 and the previous year
ended on March 31, 2001, are inclusive
of the consumer products business, whereas
the figures for the quarter ended on June
30, 2001, do not include them. Therefore,
the figures of the previous quarter /
year are not comparable.
3.The break-up of income from operations
is given below:
| |
Particulars |
Quarter
ended
June 30, 2001 |
Quarter
ended
June 30, 2000 |
Increase
/ decrease
(%) |
Year
ended
March 31, '01 |
|
|
(unaudited) |
(unaudited) |
|
(audited) |
| 1 |
Consumer
products — Godrej brands |
- |
8,382 |
(100) |
40,660 |
| 2 |
Consumer
products — non-Godrej brands |
- |
2,059 |
(100) |
6,181 |
|
A.
Income from operations of demerged
business |
- |
10,387 |
(100) |
46,841 |
| 3 |
Chemicals |
8,209 |
7,894 |
4 |
36,629 |
| 4 |
Other
manufacturing / service income |
1,510 |
947 |
59 |
4,054 |
| 5 |
Financial
income |
790 |
713 |
11 |
1,478 |
|
B.
Income from operations of continued
businesses |
10,509 |
9,554 |
10 |
42,161 |
| |
Total
(A+B) |
10,509 |
19,941 |
(47) |
89,002 |
| |
4.
In view of the accounting standard
(AS) 22 on 'Accounting for taxes
on income', issued by the Institute
of Chartered Accountants of India,
which is effective from April 1,
2001, the provision for tax for
the quarter ended June 30, 2001
includes Rs 145 lakh as deferred
tax expense. The figures for the
previous year and quarter have not
been recast. As on April 1, 2001,
the deferred tax liability relating
to previous years (amounting to
Rs 3,862 lakh has been created by
debit to the general reserve.
5. Pursuant to the de-merger, the shareholders
of the company have been allotted 1 equity
share of the face value of Rs 4 each in GCPL
for every 1 equity share held in the former
GSL. The face value of each equity share of
the company has been reduced from Rs 10 to
Rs 6. Accordingly, effective April 1, 2001,
the paid-up capital of the company stands
reduced to Rs 3,585 lakh as against Rs 5,979
lakh as on March 31, 2001.
6. Significant event
The board of directors of both Godrej
Industries Limited (GIL) and Godrej
Foods Limited (GFL) have decided
to demerge the manufacturing business
of GFL, together with its marketing,
sales, finance and other related
functions, into GIL with June 30,
2001, as the appointed date. The
'scheme of arrangement' for demerger
is subject to various statutory
approvals, including those from
shareholders, creditors, regulatory
authorities and the courts, as may
be applicable. Under the scheme,
every GFL shareholder will be issued
1 share of GIL (par value of Rs
6) for 15 shares of GFL (par value
of Rs 10).
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Place: Mumbai
Date: July 28, 2001. |
For
Godrej Industries Limited
A. B. Godrej
Chairman |
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Press
release |
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