Print

Click here to view Assets and Liabilities Statement for the period ended March 31, 2012
Orchid Chemicals & Pharmaceuticals Limited
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2012
Rs. lakhs
S.No. Particulars Standalone Consolidated
Unaudited Audited Audited
Three months ended 31-Mar-12 Three months ended 31-Dec-11 Three months ended 31-Mar-11 Year ended 31-Mar-12 Year ended 31-Mar-11 Year ended 31-Mar-12 Year ended 31-Mar-11
1 Income from Operations              
  a) Net Sales / Income from Operations (Net of Excise Duty) 45,191.75 46,380.79 49,570.77 170,170.80 159,467.88 183,897.91 171,698.61
  b) Other Operating Income 3,886.51 697.12 1,354.26 6,293.47 7,359.63 6,305.72 6,858.65
  c) Total income from operations (Net) 49,078.26 47,077.91 50,925.03 176,464.27 166,827.51 190,203.63 178,557.26
2 Expenses
a) Cost of materials consumed 18,573.79 21,325.79 25,600.68 80,241.50 87,072.41 89,767.62 94,240.30
b) Purchases of stock-in-trade 1,054.91 926.64 511.57 4,546.38 3,961.66 3,438.65 5,155.15
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 1,124.96 (1,839.40) 241.16 (6,201.86) (12,238.23) (5,575.39) (12,506.19)
d) Employee benefit expense 4,004.85 4,024.33 4,304.59 15,464.59 14,138.46 17,641.35 16,473.24
e) Depreciation / Amortisation 4,041.37 3,736.13 3,351.06 14,905.56 12,845.43 15,373.65 13,350.40
  f) Other Expenses 13,727.60 11,615.80 9,773.54 43,990.69 38,546.85 46,400.64 39,204.59
g) Total Expenses 42,527.48 39,789.29 43,782.60 152,946.86 144,326.58 167,046.52 155,917.49
3 Profit/ (Loss) from operations before other income, finance costs, exceptional items and other exchange losses (1-2) 6,550.78 7,288.62 7,142.43 23,517.41 22,500.93 23,157.11 22,639.77
4 Other Income 0.29 - - 1.59 267.10 1.59 2.99
5 Exchange rate Loss / (Gain) - Others 1,641.54 (1,840.30) (647.63) (2,748.37) (4,119.85) (2,748.37) (4,119.85)
6 Profit/(Loss) from ordinary activities before finance costs and exceptional items (3+4-5) 4,909.53 9,128.92 7,790.06 26,267.37 26,887.88 25,907.07 26,762.61
7 Finance costs 5,878.55 4,945.31 4,114.99 17,905.29 11,576.50 17,975.31 11,675.19
8 Profit/(Loss) from ordinary activities after finance costs but before exceptional items (6-7) (969.02) 4,183.61 3,675.07 8,362.08 15,311.38 7,931.76 15,087.42
9 Exceptional Items - Gain / (Loss) (228.73) (4,906.81) 1,372.49 (8,388.14) 2,069.09 (8,388.14) 2,069.09
10 Profit/(Loss) from ordinary activities before Tax (8+9) (1,197.75) (723.20) 5,047.56 (26.06) 17,380.47 (456.38) 17,156.51
11 Tax expenses
- Current Tax & Deferred Tax		 (3,252.87) 484.83 (1,081.21) (2,337.22) 1,432.13 (2,204.21) 1,537.79
12 Net Profit/(Loss) from ordinary activities after Tax (10-11) 2,055.12 (1,208.03) 6,128.77 2,311.16 15,948.34 1,747.83 15,618.72
13 Extraordinary item (net of tax expenses Rs.nil) - - - 8,000.00 - 8,000.00 -
14 Net Profit/(Loss) for the period (12+13) 2,055.12 (1,208.03) 6,128.77 10,311.16 15,948.34 9,747.83 15,618.72
15 Paid-up Equity Share Capital
(Face value of Rs.10/- each) 		7,044.21 7,044.21 7,044.21 7,044.21 7,044.21 7,044.21 7,044.21
16 Reserves excluding Revaluation Reserves - - - 112,410.89 106,358.27 111,010.42 99,880.21
17 Earnings per share (EPS) before extra-ordinary items of Rs.10/- each  
- Basic Rs. 2.92* (1.44)* 7.48* 3.28 22.64 2.48 22.17
- Diluted Rs. 2.92* (1.44)* 6.17* 3.24 18.71 2.45 18.32
18 Earnings per share (EPS) after extra-ordinary items of Rs.10/- each  
- Basic Rs. 2.92* (1.44)* 7.46* 14.64 22.64 13.84 22.17
- Diluted Rs. 2.92* (1.44)* 6.17* 14.46 18.71 13.67 18.32
A PARTICULARS OF SHAREHOLDING  
1 Public Shareholding  
- Number of equity shares 47,601,295 47,601,295 48,939,460 47,601,295 48,939,460 47,601,295 48,939,460
- Percentage of Shareholding 67.58 67.58 69.48 67.58 69.48 67.58 69.48
2 Promoters and Promoter group shareholding  
a. Pledged / Encumbered  
- Number of shares 17,060,383 18,260,383 17,181,383 17,060,383 17,181,383 17,060,383 17,181,383
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 74.69 79.95 79.90 74.69 79.90 74.69 79.90
- Percentage of shares (as a % of the total share capital of the company) 24.22 25.92 24.39 24.22 24.39 24.22 24.39
b. Non - Encumbered  
- Number of shares 5,780,398 4,580,398 4,321,233 5,780,398 4,321,233 5,780,398 4,321,233
- Percentage of shares (as a % of the total shareholding of the promoter and promoter group) 25.31 20.05 20.10 25.31 20.10 25.31 20.10
- Percentage of shares (as a % of the total share capital of the company) 8.21 6.50 6.13 8.21 6.13 8.21 6.13
* EPS for the period (not annualised)
 
B INVESTOR COMPLAINTS 3 Months ended 31-Mar-2012
  Pending at the beginning of the quarter - NIL -
  Received during the quarter 6
  Disposed of during the quarter 6
  Remaining unresolved at the end of the quarter - NIL -
 
1 The above audited financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on Monday, May 14, 2012.
2 The Company is operating in single segment (i.e) "Pharmaceuticals".
3 The Honourable High Court of Madras vide its order dated 20th March 2012 has sanctioned the Scheme of Amalgamation for merger of Orchid Research Laboratories Limited with Orchid Chemicals & Pharmaceuticals Limited effective date being 30th March 2012, Consequently the figures for the quarter and for the year ended 31, March 2012 includes the figures of ORLL. Hence, the figures are not strictly comparable with the corresponding previous period/year figures.
4 The outstanding Foreign Currency Convertible Bonds due in February 2012, aggregating to US$ 167.64 million (Rs.824.08 Crores) including yield-to-maturity, were redeemed by the Company on February 28, 2012.
5 Exchange rate loss / (Gain) - others represents exchange (Gains) / Losses on foreign currency exposures other than foreign currency loans shown under exceptional items.
6 Exceptional items for the quarter ended March 31, 2012 represents exchange Gain on FCCBs / FCTLs of Rs. 904.19 lakhs (Corresponding year - Gain of Rs. 1372.49 lakhs) and one time closure expenses of Rs.1132.92 lakhs (Corresponding year - nil) . For the year ended March 31, 2012, exceptional items represents FCTLs / FCCBs loss of Rs.6125.51 lakhs (Corresponding year - Gain of Rs.3257.07 lakhs) and one time closure expenses of Alathur Plant of Rs.2262.63 lakhs (Corresponding year - Nil).
7 The Company had exercised the option provided under the Amendment to the Companies (Accounting Standards) Amendments Rules, 2006 dated March 31, 2009. The Ministry of Corporate Affairs vide notification dated 29th December 2011 has extended the amortisation of gains or losses arising on reporting of Foreign Currency Monetary items over the balance period of such long term asset / liability. Accordingly Exchange Loss on long term foreign currency loans have been amortised over the balance period of such loans. The amount remaining to be amortized in the financial statements as at March 31, 2012 on account of exercising the above option is Rs.4824.12 lakhs (Corresponding year - Rs.Nil).
8 Extraordinary Item - Net of tax represents write back of certain provisions made for rebates and discounts as the amounts have been fully realised during the nine months ended December 31, 2011.
9 The Board has recommended a dividend of Rs.3/- per share on the equity share of Rs.10/- each.
10 Previous period figures have been regrouped wherever necessary.
 
  For and on behalf of the Board
 
 
  Place : Chennai K.Raghavendra Rao
  Date : May 14, 2012 Chairman & Managing Director