| STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st DECEMBER, 2012 |
| Rs. in Crore |
| Sr. No. |
Particulars |
Quarter ended |
Nine Months ended |
Year ended |
| 31st Dec., 2012 |
30th Sep., 2012 |
31st Dec., 2011 |
31st Dec., 2012 |
31st Dec., 2011 |
31st March, 2012 |
| |
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Audited |
| PART-I |
|
|
|
|
|
|
|
| 1 |
Gross Sales/ Income from Operations |
513.96 |
634.72 |
723.11 |
1,872.92 |
2,237.93 |
2,980.60 |
| |
Less : Inter Segment Transfers |
144.45 |
196.68 |
189.25 |
540.68 |
563.88 |
792.72 |
| |
Inter Division Transfers |
19.31 |
38.33 |
38.40 |
95.18 |
133.91 |
164.84 |
| |
Excise Duty |
36.75 |
31.12 |
36.35 |
106.12 |
107.89 |
143.62 |
| |
(a) Net Sales/ Income from Operations |
313.45 |
368.59 |
459.11 |
1,130.94 |
1,432.25 |
1,879.42 |
| |
(b) Other Operating Income |
24.00 |
17.81 |
14.17 |
62.47 |
42.93 |
65.01 |
| |
|
|
|
|
|
|
|
| |
Total Income from Operations (a+b) |
337.45 |
386.40 |
473.28 |
1,193.41 |
1,475.18 |
1,944.43
|
| |
|
|
|
|
|
|
|
| 2 |
Expenses |
|
|
|
|
|
|
| |
(a) Consumption of Raw Materials |
166.14 |
153.11 |
250.67 |
575.86 |
772.33 |
1,000.07 |
| |
(b) Purchases of stock-in-trade |
2.24 |
2.45 |
- |
6.06 |
- |
- |
| |
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(8.32) |
17.63 |
(11.80) |
(26.18) |
(42.06) |
(39.26) |
| |
(d) Employee benefit expenses |
28.07 |
29.20 |
28.66 |
85.71 |
84.12 |
113.47 |
| |
(e) Depreciation & Amortisation Expense |
25.33 |
23.69 |
22.43 |
70.97 |
63.40 |
84.50 |
| |
(f) Other Expenses : |
|
|
|
|
|
|
| |
(i) Energy |
75.09 |
81.72 |
85.90 |
243.77 |
257.63 |
343.63 |
| |
(ii)Other Direct Expenditure |
47.98 |
59.32 |
61.46 |
174.15 |
198.75 |
265.18 |
| |
(iii) Other Expenditure |
5.13 |
6.01 |
4.80 |
17.34 |
14.30 |
20.31 |
| |
|
|
|
|
|
|
|
| |
Total Expenses |
341.66 |
373.13 |
442.12 |
1,147.68 |
1,348.47 |
1,787.90 |
| |
|
|
|
|
|
|
|
| 3 |
Profit / (Loss) from Operations before other income,finance costs |
(4.21) |
13.27 |
31.16 |
45.73 |
126.71 |
156.53 |
| |
and exceptional items (1-2) |
|
|
|
|
|
|
| 4 |
Other Income |
3.40 |
4.94 |
4.27 |
12.53 |
13.31 |
24.44 |
| 5 |
Profit / (Loss) from ordinary activities before finance costs and |
(0.81) |
18.21 |
35.43 |
58.26 |
140.02 |
180.97 |
| |
exceptional items ( 3+4) |
|
|
|
|
|
|
| 6 |
Finance Costs |
39.62 |
38.59 |
32.22 |
115.51 |
83.83 |
120.79 |
| 7 |
Profit / (Loss) from ordinary activities after finance costs but before |
(40.43) |
(20.38) |
3.21 |
(57.25) |
56.19 |
60.18 |
| |
exceptional items and foreign exchange( Gain)/ Loss( 5-6) |
|
|
|
|
|
|
| 8 |
Exceptional items (Foreign Exchange (Gain)/ Loss) |
8.73 |
24.95 |
6.90 |
52.83 |
19.24 |
31.52 |
| 9 |
Profit / (Loss) from ordinary activities before tax (7- 8) |
(49.16) |
(45.33) |
(3.69) |
(110.08) |
36.95 |
28.66 |
| 10 |
Tax Expenses |
(13.50) |
(17.12) |
(5.46) |
(30.62) |
6.13 |
0.07 |
| 11 |
Net Profit / (Loss) from ordinary activities after tax (9-10) |
(35.66) |
(28.21) |
1.77 |
(79.46) |
30.82 |
28.59 |
| 12 |
Extraordinary items |
- |
- |
- |
- |
- |
- |
| 13 |
Net Profit / (Loss) for the period after tax (11-12) |
(35.66) |
(28.21) |
1.77 |
(79.46) |
30.82 |
28.59 |
| 14 |
Paid-up Equity Share Capital (Face Value of Rs.5/- per share) |
73.25 |
73.25 |
73.25 |
73.25 |
73.25 |
73.25 |
| 15 |
Reserves excluding Revaluation Reserves as per |
- |
- |
- |
- |
- |
514.10 |
| |
Balance Sheet of previous accounting year. |
|
|
|
|
|
|
| 16 |
Earnings per share before extraordinary items |
|
|
|
|
|
|
| |
Basic & Diluted Earnings per share of Rs.5/- each (Rs) ( not annualised) |
(2.43) |
(1.93) |
0.12 |
(5.42) |
2.10 |
1.95 |
| 17 |
Earnings per share after extraordinary items |
|
|
|
|
|
|
| |
Basic & Diluted Earnings per share of Rs.5/- each (Rs) ( not annualised) |
(2.43) |
(1.93) |
0.12 |
(5.42) |
2.10 |
1.95 |
| |
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| PART-II |
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| A |
SELECT INFORMATION FOR THE QUARTER ENDED 31st DECEMBER, 2012 |
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PARTICULARS OF SHAREHOLDING |
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| 1 |
Public Shareholding |
|
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| |
Number of Shares |
70794009 |
70764009 |
70759176 |
70794009 |
70759176 |
70754009 |
| |
Percentage of Shareholding |
48.32% |
48.30% |
48.30% |
48.32% |
48.30% |
48.30% |
| 2 |
Promoters and promoter group shareholding |
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(a) Pledged / Encumbered |
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| |
Number of Shares |
NIL |
NIL |
NIL |
NIL |
NIL |
NIL |
| |
Percentage of Shares ( as a % of the total shareholding of promoter |
- |
- |
- |
- |
- |
- |
| |
and promoter group ) |
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Percentage of Shares ( as a % of the total share capital of the company ) |
- |
- |
- |
- |
- |
- |
| |
(b) Non - Encumbered |
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| |
Number of Shares |
75707374 |
75737374 |
75742207 |
75707374 |
75742207 |
75747374 |
| |
Percentage of Shares ( as a % of the total shareholding of promoter |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| |
and promoter group ) |
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| |
Percentage of Shares ( as a % of the total share capital of the company ) |
51.68% |
51.70% |
51.70% |
51.68% |
51.70% |
51.70% |
| B |
INVESTOR COMPLAINTS |
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Pending at the beginning of the quarter |
NIL |
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Received during the quarter |
6 |
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Disposed of during the quarter |
6 |
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Remaining unresolved at the end of the quarter |
NIL |
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Notes: |
| 1 |
The Company has adopted the Hedge Accounting policy and principles set out in Accounting Standard ( AS -30) Financial Instruments: Recognition and Measurement. During the quarter ended 31st December, 2012, the Company has carried Exchange loss of Rs.29.58 Crore to Hedge Reserve Account and charged Exchange Loss of Rs. 9.01 Crore to Profit and Loss Account from Hedge Reserve Account. Balance in Hedge Reserve Accounts as on 31st December, 2012 is Rs. 35.05 Crore. |
| 2 |
The Company has exercised the option as per Para 46 A inserted in the Accounting Standard ( AS-11) for treatment of exchange difference on long term monetary liabilities, other than covered under the Hedge accounting . Accordingly during the quarter ended 31st December, 2012, Exchange loss capitalized is Rs. 18.84 Crore and Exchange loss recognized in Foreign Currency Monetary Item Translation Difference Account (FCMITDA) is Rs. 1.52 Crore and Exchange Loss of Rs. 0.35 Crore transferred to Profit & Loss Account from FCMITDA . Balance in FCMITDA as on 31st December, 2012 is Rs. 7.25 Crore. |
| 3 |
Based on the advice on treatment of Amalgamation Reserve created in terms of the Scheme of Arrangement, sanctioned by the Hon'ble High Court, Bombay, the Company has adjusted depreciation of Rs.1.70 Crore and Rs. 5.06 Crore during current quarter and nine months ended 31st December, 2012 respectively against the Amalgamation Reserve. |
| 4 |
The insurance claim lodged during the quarter ended 31st December, 2011 has been accounted on accrual basis and a note to this effect was given in the previous years quarterly results. The limited review report has been qualified with respect to the said note and the Company expects that the said claim to be settled by the insurance Company without any material deviation. |
| 5 |
The auditors have conducted a Limited Review of the financial results for the quarter ended 31st December, 2012. |
| 6 |
The comparative figures are regrouped and reclassified to meet the current quarter's classification.
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| The above results were reviewed by the Audit committee and have been taken on record by the Board of Directors at their meeting held on 14th February, 2013. |
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For ISMT Limited |
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Place : Pune |
Rajiv Goel |
| |
Date : 14th February, 2013 |
Chief Financial Officer |
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