| Orchid Chemicals & Pharmaceuticals Ltd. | ||||||||
| UNAUDITED FINANCIAL RESULTS FOR FIFTEEN MONTHS ENDED JUNE 30, 2013 | ||||||||
| (Rs.Lakhs) | ||||||||
| Standalone | ||||||||
| S.No | Particular | Unaudited | Audited | |||||
| Three months ended 30-Jun-2013 |
Three months ended 31-Mar-2013 |
Three months ended 30-Jun-2012 |
Fifteen months ended 30-Jun-2013 |
Year ended 31-Mar-2012 |
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| 1 | Net Sales / Income from Operations (Net of Excise Duty) | 24846.12 | 26815.67 | 31563.15 | 147632.71 | 170170.80 | ||
| 2 | Other operating income | 832.31 | - | 4159.90 | 4992.21 | 6293.47 | ||
| 3 | Total operating income (1+2) | 25678.43 | 26815.67 | 35723.05 | 152624.92 | 176464.27 | ||
| 4 | Expenditure | |||||||
| a) Cost of materials consumed | 12188.27 | 14903.25 | 10193.28 | 59631.26 | 80241.50 | |||
| b) Purchases of stock-in-trade | 404.64 | 644.38 | 1538.32 | 5377.74 | 4546.38 | |||
| c) Changes in inventories of finished goods, work-in-progress and stock-in-trade | (628.76) | 204.75 | 7204.14 | 12479.58 | (6201.86) | |||
| d) Employees cost | 3930.45 | 3728.41 | 3761.80 | 19635.58 | 15464.59 | |||
| e) Depreciation/Amortisation | 4194.80 | 3863.41 | 3991.26 | 19910.56 | 14905.56 | |||
| f) Other Expenditure | 5480.61 | 5937.38 | 7444.46 | 37939.83 | 41242.32 | |||
| g) Total | 25570.01 | 29281.58 | 34133.26 | 154974.55 | 150198.49 | |||
| 5 | Profit from Operations before Other Income, Interest Exceptional Item (3-4) |
108.42 | (2465.91) | 1589.79 | (2349.63) | 26265.78 | ||
| 6 | Other Income | - | - | - | 1.31 | 1.59 | ||
| 7 | Profit/(Loss) before Interest & Exceptional Item (5+6) | 108.42 | (2465.91) | 1589.79 | (2348.32) | 26267.37 | ||
| 8 | Finance cost | 9524.40 | 8576.43 | 7132.59 | 39949.78 | 17905.29 | ||
| 9 | Profit/(loss) after interest but before Exceptional Item (7-8) | (9415.98) | (11042.34) | (5542.80) | (42298.10) | 8362.08 | ||
| 10 | Exceptional Item - Gain/(Loss) | 3965.49 | (639.64) | (808.04) | 6580.61 | (8388.14) | ||
| 11 | Profit/(Loss) before Tax (9+10) from ordinary activities | (5450.49) | (11681.98) | (6350.84) | (35717.49) | (26.06) | ||
| 12 | Tax expenses | |||||||
| - Current Tax & Deferred Tax | - | 1544.86 | (1270.66) | (2729.58) | (2337.22) | |||
| 13 | Net Profit/(Loss) after Tax (11-12) | (5450.49) | (13226.84) | (5080.18) | (32987.91) | 2311.16 | ||
| 14 | Extraordinary item- (net of tax of Rs. Nil) | - | - | - | - | 8000.00 | ||
| 15 | Net Profit/(Loss) for the period (13+14) | (5450.49) | (13226.84) | (5080.18) | (32987.91) | 10311.16 | ||
| 16 | Paid-up Equity Share Capital (Face value of Rs.10/- each) |
7045.21 | 7045.21 | 7045.21 | 7045.21 | 7044.21 | ||
| 17 | Reserves excluding Revaluation Reserves | - | - | - | - | 112410.89 | ||
| 18 | Earnings per share (EPS) before extra-ordinary item | |||||||
| - Basic Rs.* | (7.74) | (18.77) | (7.21) | (46.82) | 3.28 | |||
| - Diluted Rs.* | (7.74) | (18.77) | (7.21) | (46.82) | 3.24 | |||
| 19 | Earnings per share (EPS) after extra-ordinary item | |||||||
| - Basic Rs.* | (7.74) | (18.77) | (7.21) | (46.82) | 14.64 | |||
| - Diluted Rs.* | (7.74) | (18.77) | (7.21) | (46.82) | 14.46 | |||
| A | PARTICULARS OF SHAREHOLDING | |||||||
| 1 | Public Shareholding | |||||||
| - Number of equity shares | 47711295 | 47711295 | 47611295 | 47711295 | 47601295 | |||
| - Percentage of Shareholding | 67.72 | 67.72 | 67.58 | 67.72 | 67.57 | |||
| 2 | Promoters and Promoter group shareholding | |||||||
| a. Pledged/Encumbered | ||||||||
| - Number of shares | 18659262 | 17616262 | 17110383 | 18659262 | 17060383 | |||
| - Percentage of shares (as a % of the total shareholding of Promoter and Promoter group) |
82.05 | 77.47 | 74.91 | 82.05 | 74.69 | |||
| - Percentage of shares (as a % of the total share capital of the company) |
26.48 | 25.00 | 24.29 | 26.48 | 24.22 | |||
| b. Non - Encumbered | ||||||||
| - Number of shares | 4081519 | 5124519 | 5730398 | 4081519 | 5780398 | |||
| - Percentage of shares (as a % of the total shareholding of the Promoter and Promoter group) |
17.95 | 22.53 | 25.09 | 17.95 | 25.31 | |||
| - Percentage of shares (as a % of the total share capital of the company) |
5.79 | 7.28 | 8.13 | 5.79 | 8.21 | |||
| B | INVESTOR COMPLAINTS | 3 Months ended 31-Mar-2013 | ||||||
| Pending at the beginning of the quarter | -NIL- | |||||||
| Received during the quarter | 5 | |||||||
| Disposed of during the quarter | 5 | |||||||
| 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 August 14, 2013 and have been subjected to limited review by the Statutory Auditors in terms of Clause 41 of the Listing Agreement. | |||||||
| 2 | The Company is operating in single segment (i.e) "Pharmaceuticals". | |||||||
| 3 | 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 transaction is expected to be completed before September 30, 2013. Accordingly the Company has extended the Financial year 2012-13 for eighteen months ending September 30, 2013 and requisite permission for extension of the Financial year has been obtained. | |||||||
| 4 | During the current quarter, the Company's Banker M/s State Bank of India has made a reference for restructuring the debts of the Company before CDR Cell. The Company in in the process of negotiation with Banks, Financial Institutions and others for settlement of dues. The amount of penal interest and other charges payable would be determined on completion of the negotiations. Hence provision for liability, if materialises, will be made on conclusion of negotiations. | |||||||
| 5 | Exceptional items for fifteen months ended June 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.4143.14 Lakhs. Exceptional items for this quarter include profit on sale of land/buildings of Rs.5389.99 Lakhs and Exchange loss of Rs. 1424.50 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 June 30, 2013 on account of exercising the above option is Rs. 13868.18 Lakhs. | |||||||
| 7 | Previous period figures have been regrouped wherever necessary. | |||||||
| For and on behalf of the Board | ||||||||
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