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Orchid Chemicals & Pharmaceuticals Ltd

Unaudited Financial Results of Three Months Ended June 30, 2004

(Rs.Lakhs)

Sl No

Particulars

Three Months ended
30-June-04
(unaudited)

Three Months ended
30-June-03
(unaudited)

Year ended 31-Mar-04 (Audited)

Sales and Operating Income

17386.43

17,292.07

71340.98

Other Income

40.12

49.89

123.12

Total Expenditure

13702.51

14033.28

56415.00

a) Decrease/(Increase) in Stock in trade

24.73

(1,176.04)

(4387.75)

b) Consumption of raw materials

8787.67

10,567.38

39355.45

c) Staff Cost

1226.97

960.41

4841.60

d) Other Expenditure

3663.14

3,681.53

16605.70

Profit before Interest, Depreciation & Tax (1+2-3)

3724.04

3308.68

15049.10

Interest and Finance Charges

1686.27

1,108.70

6067.08

Depreciation

1529.26

1,380.06

5684.23

Profit before tax
(4-5-6)

508.51

819.92

3297.79

Provision for Taxation

- Current Tax

39.09

63.09

195.00

- Deferred Tax

Net Profit (7-8)

469.42

756.83

3102.79

Paid- up Equity Share Capital (Face value of Rs. 10 each)

3238.19

3238.19

Reserves excluding Revaluation Reserves

38630.88

Basic Earnings per Share (EPS) Rs.

1.45 *

2.34*

9.58

Diluted Earnings per share (EPS) Rs.

1.38 *

2.34*

9.58

Segment wise Revenue, Results and Capital Employed

(Rs.Lakhs)

Sl No

Particulars

Three Months ended
30-June-04

Three Months
ended
30-June-03

Year ended

31-Mar-04

Segment Revenue

a) Bulk

15054.31

15302.69

62455.23

b) Formulations

2481.69

2781.73

10441.13

Total

17536.00

18084.42

72896.36

Less: Inter segment revenue

149.57

792.35

1555.38

Net Sales / Income from Operations

17386.43

17292.07

71340.98

Segment Revenue

a) Bulk

2109.44

1641.52

9546.72

b) Formulations

45.22

237.21

(128.57)

Total

2154.66

1878.73

9418.15

Less: i) Interest (Net)

1686.27

1108.70

6067.08

ii) Other unallocable expenditure net off unallocable income

(40.12)

(49.89)

53.28

Total Profit Before Tax

508.51

819.92

3297.79

Capital Employed

a) Bulk

108,937.65

102305.04

106458.81

b) Formulations

15,961.63

9587.21

15737.57

Total

124,899.28

111892.25

122196.38

* EPS is for the period (not annualised)

1	The above accounts have been subjected to Limited Review by the Statutory Auditors.
2	The Company received 4 complaints during the quarter ended June 30, 2004 from the shareholders, all the complaints have been resolved and no complaints were pending as on June 30, 2004.
3	In terms of the resolution passed at the EGM held on 10-04-2004, 20,00,000 warrants have been issued during the qaurter to the Promoter / Promoter Group, each warrant convertible into one equity share of Rs. 10 each, at a price of Rs.212.18.
4	Figures for the previous periods have been regrouped wherever necessary.
5	The above financial results were taken on record by the Board of Directors at its meeting held on Wednesday, July 28, 2004.

Place : Chennai
Date : July 28, 2004

K. Raghavendra Rao
Managing Director