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Click here to view Assets and Liabilities Statement for the period ended September, 2013
Orchid Chemicals & Pharmaceuticals Limited
STATEMENT OF AUDITED FINANCIAL RESULTS FOR EIGHTEEN MONTHS ENDED SEPTEMBER 30, 2013
Rs. lakhs
S.No. Particulars Standalone Consolidated
Unaudited Audited Audited
Three months ended
30-Sep-13		 Three months ended
30-Jun-13		 Three months ended
30-Sep-12		 18 months ended
30-Sep-13		 Year ended
31-Mar-12		 18 months ended
30-Sep-13		 Year ended
31-Mar-12
 
1 Net Sales/Income from Operations (Net of Excise Duty) 37,725.00 24,846.12 33,054.81 1,85,357.71 1,70,170.80 1,89,256.33 1,83,897.91
2 Other Operating Income 321.84 832.31 - 5,314.05 6,293.47 9,584.10 6,305.72
3 Total Operating Income (1+2) 38,046.84 25,678.43 33,054.81 1,90,671.76 1,76,464.27 1,98,840.43 1,90,203.63
4 Expenditure              
  a) Cost of materials consumed 22,615.13 12,188.27 15,202.02 82,246.39 80,241.50 85,468.99 89,767.62
  b) Purchases of stock-in-trade (278.37) 404.64 1,420.27 5,099.37 4,546.38 5,062.03 3,438.65
  c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (3,998.55) (628.76) (914.03) 8,481.03 (6,201.86) 8,481.03 (5,575.39)
  d)Employees Cost 4,069.54 3,930.45 4,130.37 23,705.12 15,464.59 25,270.12 17,641.35
  e) Depreciation/Amortisation 4,476.30 4,194.80 3,955.09 24,386.86 14,905.56 25,258.28 15,373.65
  f) Other Expenditure 16,239.68 5,480.61 9,272.27 54,179.51 41,242.32 59,464.38 43,652.27
  g) Total 43,123.73 25,570.01 33,065.99 1,98,098.28 1,50,198.49 2,09,004.83 1,64,298.15
5 Profit/(Loss) from Operations before Other Income, Interest, Exceptional Item (3-4) (5,076.89) 108.42 (11.18) (7,426.52) 26,265.78 (10,164.40) 25,905.48
6 Other Income - - 1.31 1.31 1.59 1.59 1.59
7 Profit/(Loss) before Interest & Exceptional Item (5+6) (5,076.89) 108.42 (9.87) (7,425.21) 26,267.37 (10,162.81) 25,907.07
8 Finance cost 12,088.28 9,524.40 7,647.05 52,038.06 17,905.29 52,202.71 17,975.31
9 Profit/(loss) after interest but before Exceptional Item (7-8) (17,165.17) (9,415.98) (7,656.92) (59,463.27) 8,362.08 (62,365.52) 7,931.76
10 Exceptional Item - Gain/(Loss) (1,469.53) 3,965.49 4,621.98 5,111.08 (8,388.14) 5,111.09 (8,388.14)
11 Profit/(Loss) before Tax (9+10) from Ordinary activities (18,634.70) (5,450.49) (3,034.94) (54,352.19) (26.06) (57,254.43) (456.38)
12 Tax expenses              
- Current Tax & Deferred Tax 1,400.02 - (1,040.33) (1,329.56) (2,337.22) (1,252.26) (2,204.21)
13 Net Profit/(Loss) after Tax (11-12) (20,034.72) (5,450.49) (1,994.61) (53,022.63) 2,311.16 (56,002.17) 1,747.83
14 Extraordinary item (net of tax of Rs.Nil) - - - - 8,000.00 - 8,000.00
15 Net Profit/(Loss) for the period (13+14) (20,034.72) (5,450.49) (1,994.61) (53,022.63) 10,311.16 (56,002.17) 9,747.83
16 Less: Minority Interest - - - - - (196.49) -
17 Net Profit/(Loss) (20,034.72) (5,450.49) (1,994.61) (53,022.63) 10,311.16 (55,805.68) 9,747.83
18 Paid-up Equity Share Capital
(Face value of Rs.10/- each)		 7,045.21 7,045.21 7,045.21 7,045.21 7,044.21 7,045.21 7,044.21
19 Reserves excluding Revaluation Reserves - - - 41,746.03 1,07,586.76 31,472.07 1,06,186.29
20 Earnings per share (EPS) before extra-ordinary item              
  - Basic Rs.* (28.44) (7.74) (2.83) (75.26) 3.28 (79.21) 2.48
  - Diluted Rs.* (28.44) (7.74) (2.83) (75.26) 3.24 (79.21) 2.45
21 Earnings per share (EPS) after extra-ordinary item              
  - Basic Rs.* (28.44) (7.74) (2.83) (75.26) 14.64 (79.21) 13.84
  - Diluted Rs.* (28.44) (7.74) (2.83) (75.26) 14.46 (79.21) 13.67
A PARTICULARS OF SHAREHOLDING              
1 Public Shareholding              
- Number of equity shares 4,77,11,295 4,77,11,295 4,76,11,295 4,77,11,295 4,76,01,295 4,77,11,295 4,76,01,295
- Percentage of Shareholding 67.72 67.72 67.58 67.72 67.57 67.72 67.58
2 Promoters and Promoter group shareholding  
a. Pledged/Encumbered  
- Number of shares 1,89,41,608 1,86,59,262 1,76,76,037 1,89,41,608 1,70,60,383 1,89,41,608 1,70,60,383
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 83.29 82.05 77.39 83.29 74.69 83.29 74.69
- Percentage of shares (as a % of the total share capital of the company) 26.89 26.48 25.09 26.89 24.22 26.89 24.22
b. Non - Encumbered  
- Number of shares 37,99,173 40,81,519 51,64,744 37,99,173 57,80,398 37,99,173 57,80,398
- Percentage of shares (as a % of the total shareholding of the promoter and promoter group) 16.71 17.95 22.61 16.71 25.31 16.71 25.31
- Percentage of shares (as a % of the total share capital of the company) 5.39 5.79 7.33 5.39 8.21 5.39 8.21
 
B INVESTOR COMPLAINTS
  Pending at the beginning of the quarter - NIL -
  Received during the quarter 2
  Disposed of during the quarter 2
  Remaining unresolved at the end of the quarter - NIL -
* EPS for the period (except for the year ended on March 31, 2012) is not annualised.
 
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 November 29, 2013. The audited results for the current period are for 18 months as against the previous audited results for a period of 12 months. Hence the figures are not comparable.
2 The Company is operating in single segment (i.e) "Pharmaceuticals".
3 The Company's application for Debt Restructuring has been admitted by the CDR Empowered Group and preparation of the restructuring package is under progress.
4 The Company has entered into a Business Transfer Agreement (BTA) dated August 29, 2012 with Hospira Healthcare India Private Limited for the sale and transfer of Orchid’s Penicillin and Penem API business and the API facility located in Aurangabad (Maharashtra) together with an associated Process R&D infrastructure located in Chennai. The Business Transfer is likely to get completed after the approval of the CDR package.
5 Exceptional items for eighteen months ended September 30,2013 represents profit on sale of land/buildings of Rs.5389.99 Lakhs, profit on sale of investments in the Joint venture in China of Rs.5333.76 Lakhs and Exchange loss of Rs.5615.77 Lakhs.
6 The Company had exercised the option provided under the Companies (Accounting Standards) Amendment Rules, 2006 dated March 31, 2009. The Ministry of Corporate affairs vide notification dated 29/12/2011 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 amortised in the financial statements as at September 30, 2013 on account of exercising the above option is Rs.17657.84 Lakhs.
7 During the current quarter, the Company has decided to wind up the wholly owned subsidiary in Japan.
8 In respect of Consolidated results, in view of the smallness of the operations of the foreign subsidiaries and non-requirement of audit under respective laws in certain cases, the Company has decided to adopt management approved accounts for consolidation.
9 Previous period figures have been regrouped wherever necessary.
 
  For and on behalf of the Board
 
 
  Place: Chennai K. Raghavendra Rao
  Date: November 29, 2013 Chairman & Managing Director