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Orchid Chemicals & Pharmaceuticals Limited
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2012
Rs. lakhs
S.No. Particulars Standalone
Unaudited Audited
Three months ended 31-Dec-12 Three months ended 30-Sep-12 Three months ended 31-Dec-11 Nine months ended 31-Dec-12 Nine months ended 31-Dec-11 Year ended 31-Mar-12
1 Income from Operations            
  a) Net Sales/Income from Operations (Net of Excise Duty) 31352.96 33054.81 46380.79 95970.92 124979.06 170170.80
  b) Other Operating Income - - 697.12 4159.90 2406.96 6293.47
  c) Total income from operations (Net) (1+2) 31352.96 33054.81 47077.91 100130.82 127386.02 176464.27
2 Expenses
a) Cost of materials consumed 9352.92 15202.02 21325.79 34748.23 61667.71 80241.50
b) Purchases of stock-in-trade 1370.12 1420.27 926.64 4328.71 3491.47 4546.38
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 6613.47 (914.03) (1839.40) 12903.59 (7326.83) (6201.86)
d) Employee benefit expense 4084.56 4130.37 4024.33 11976.72 11459.72 15464.59
e) Depreciation / Amortisation 3906.01 3955.09 3736.13 11852.36 10864.19 14905.56
  f) Other Expenses 7596.62 9272.27 9775.51 24313.35 25873.18 41242.32
g) Total Expenses 32923.70 33065.99 37949.00 100122.96 106029.44 150198.49
3 Profit/ (Loss) from operations before other income, finance costs, exceptional items (1-2) (1570.74) (11.18) 9128.91 7.86 21356.58 26265.78
4 Other Income (0.00) 1.31 - 1.31 1.30 1.59
5 Profit/(Loss) from ordinary activities before finance costs and exceptional items (3+4) (1570.74) (9.87) 9128.91 9.17 21357.88 26267.37
6 Finance costs 7069.30 7647.05 4945.31 21848.95 12026.74 17905.29
7 Profit/(Loss) from ordinary activities after finance costs but before exceptional items (5-6) (8640.04) (7656.92) 4183.60 (21839.78) 9331.14 8362.08
8 Exceptional Items (559.18) 4621.98 (4906.81) 3254.76 (8159.41) (8388.14)
9 Profit/(Loss) from ordinary activities before Tax (7+8) (9199.22) (3034.94) (723.21) (18585.02) 1171.73 (26.06)
10 Tax expenses
- Current Tax & Deferred Tax		 (1963.45) (1040.33) 289.26 (4274.44) 720.08 (2337.22)
11 Net Profit/(Loss) from ordinary activities after Tax (9-10) (7235.77) (1994.61) (1012.47) (14310.58) 451.65 2311.16
12 Extraordinary item (net of tax expenses Rs.nil) - - - - 8000.00 8000.00
13 Net Profit/(Loss) for the period (11+12) (7235.77) (1994.61) (1012.47) (14310.58) 8451.65 10311.16
14 Paid-up Equity Share Capital
(Face value of Rs.10/- each)		 7045.21 7045.21 7044.21 7045.21 7044.21 7044.21
15 Reserves excluding Revaluation Reserves - - - - - 112410.89
16 Earnings per share (EPS) before extra-ordinary items of Rs.10/- each*            
- Basic Rs. (10.27) (2.83) (1.44) (20.31) 0.64 3.28
- Diluted Rs. (10.27) (2.83) (1.44) (20.31) 0.52 3.24
17 Earnings per share (EPS) after extra-ordinary items of Rs.10/- each            
- Basic Rs. (10.27) (2.83) (1.44) (20.31) 12.00 14.64
- Diluted Rs. (10.27) (2.83) (1.44) (20.31) 9.81 14.46
A PARTICULARS OF SHAREHOLDING  
1 Public Shareholding  
- Number of equity shares 47611295 47611295 47601295 47611295 47601295 47601295
- Percentage of Shareholding 67.58 67.58 67.58 67.58 67.58 67.57
2 Promoters and Promoter group shareholding  
a. Pledged/Encumbered  
- Number of shares 17818645 17676037 18260383 17818645 18260383 17060383
- Percentage of shares (as a % of the total shareholding of   promoter and promoter group) 78.01 77.39 79.95 78.01 79.95 74.69
- Percentage of shares (as a % of the total share capital of   the company) 25.29 25.09 25.92 25.29 25.92 24.22
b. Non-Encumbered  
- Number of shares 5022136 5164744 4580398 5022136 4580398 5780398
- Percentage of shares (as a % of the total shareholding of   promoter and promoter group) 21.99 22.61 20.05 21.99 20.05 25.31
- Percentage of shares (as a % of the total share capital of   the company) 7.13 7.33 6.50 7.13 6.50 8.21
 
B INVESTOR COMPLAINTS 3 Months ended 31-Dec-2012
  Pending at the beginning of the quarter - NIL -
  Received during the quarter 25
  Disposed of during the quarter 25
  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 unaudited financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 13, 2013 and have been subjected to limited review by the Statutory Auditors in terms of Clause 41 of the Listing Agreement.
2 Exceptional items for the nine months ended December 31, 2012 represents profit on sale of Investments in the Joint Venture in China of Rs. 5333.76 lakhs (Previous period - Rs.NIL), exchange loss on FCCBs/FCTLs of Rs.2079 lakhs (Corresponding quarter - Loss of Rs. 7029.70 lakhs). Exceptional items for this quarter includes exchange loss on FCCBs / FCTLs of Rs. 766.46 lakhs corresponding quarter - Loss Rs. 4906.81 lakhs). One time closure cost of Alathur Plant for the quarter ended December 2012 is Rs. NIL (Previous period - Rs.1129.71 lakhs). 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 December 31, 2012 on account of exercising the above option is Rs.9383.55 lakhs (Corresponding period ended - Rs.7669.37 lakhs).
3 During the Previous quarter the Company has entered into Business Tranfer Agreement with Hospira Healthcare India Limited., for the sale and transfer of Orchid's Pencillin and Penem API Business and the API facility located in Aurangabad (Maharashtra) together with associated process R&D Infrastructure located in Chennai. The requisite approvals have already been obtained by Hospira Healthcare India Limited., during this quarter. The transaction is expected to be completed before March 31, 2013.
4 The Company is operating in single segment (i.e) "Pharmaceuticals".
5 Previous period figures have been regrouped wherever necessary.
 
For and on behalf of the Board
 
 
Place: Chennai K.Raghavendra Rao
Date: Feb 13, 2013 Chairman & Managing Director