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Orchid Chemicals & Pharmaceuticals Ltd.
Unaudited Financial Results for half year ended September 30, 2006
(Rs.Lakhs)
   
Standalone Results
Consolidated Results
S.No
Particulars
Three months ended
30-Sep-06
(Unaudited)
Three months ended
30-Sep-05
(Unaudited)
Six months ended 30-Sep-06 (Unaudited)
 Six months ended 30-Sep-05 (Unaudited) Year ended 31-Mar-06 (Audited)
Six months ended 30-Sep-06 (Unaudited)
Six months ended 30-Sep-05 (Unaudited)
Year ended 31-Mar-06 (Audited)
1
 Sales and Operating Income
24,573.13
23,931.56
44,744.11
40,957.31
88,876.64
47,282.68
43,953.50
95,193.99
2
 Other Income
22.06
111.34
100.19
155.16
132.73
125.33
148.61
121.90
3
 Total Expenditure
16,791.52
16,555.28
31,161.33
29,038.82
62,949.30
34,420.16
33,264.96
71,448.65
a) Decrease/(Increase) in Stock in trade
(6,052.77)
(1,144.34)
(9,401.71)
(3,473.53)
(1,912.72)
(9,344.06)
(3,688.96)
(2,048.83)
b) Consumption of raw materials
13,487.33
9,985.51
23,994.29
19,168.59
36,439.22
26,170.77
22,542.06
42,948.56
c) Staff Cost
2,092.55
1,550.02
3,810.22
2,958.41
6,521.18
3,884.81
3,027.57
6,963.89
d) Other Expenditure
7,264.41
6,164.09
12,758.53
10,385.35
21,901.62
13,708.64
11,384.29
23,585.03
4
Profit before Interest, Depreciation & Tax (1+2-3)
7,803.67
7,487.62
13,682.97
12,073.64
26,060.07
12,987.85
10,837.15
23,867.24
5
 Interest and Finance Charges
2,559.29
2,406.51
4,762.15
4,482.63
8,701.32
4,814.10
4,524.75
8,784.48
6
 Depreciation / Amortisation
2,009.30
2,134.33
3,941.68
3,824.86
8,297.57
4,074.42
3,941.86
8,581.76
7
 Profit before tax (4-5-6)
3,235.08
2,946.78
4,979.15
3,766.16
9,061.18
4,099.33
2,370.54
6,501.00
8
 Provision for Taxation
    Current Tax
-
-
-
46.00
-
-
46.00
-
    Deferred Tax
250.00
180.00
500.00
180.00
590.00
500.00
180.00
590.00
    Fringe Benefit Tax
40.00
45.00
75.00
85.00
181.00
75.00
85.00
181.00
9
 Net Profit (7-8)
2,945.08
2,721.78
4,404.15
3,455.16
8,290.18
3,524.33
2,059.54
5,730.00
10
 Paid- up Equity Share Capital (Face value of Rs. 10 each)
6,581.17
5,213.08
6,581.17
5,213.08
6,461.82
6,581.17
5,213.08
6,461.82
11
 Reserves excluding Revaluation Reserves
-
-
-
-
72,040.71
-
-
71,096.88
12
 Basic Earnings per Share (EPS) Rs.*
4.48
5.22
6.70
6.63
14.85
5.36
3.95
10.27
13
 Diluted Earnings per Share (EPS) Rs.*
4.01
5.06
5.99
6.42
13.64
4.79
3.83
9.43
14
 Aggregate of Non-Promoter Shareholding
  -Number of equity shares of Rs.10/-each
54,020,568
41,201,925
54,020,568
41,201,925
53,124,009
  -Percentage of Shareholding
82.09
79.04
82.09
79.04
82.21
   
* EPS is for the period not annualised.
  • The above financial results were taken on record by the Board of Directors at its meeting held on Thursday, October 19, 2006.
  • The Company is operating in single segment (i.e) "Pharmaceuticals".
  • The above stand-alone results have been subjected to limited review by the Statutory Auditors.
  • During the quarter a wholly owned subsidiary Orchid Pharmaceuticals (South Africa) (PTY) Ltd. was incorporated.
  • In accordance with the revised AS 15, necessary provision has been made for the employee benefits during the period. The increase in liability as at the commencement of the year as per revised AS 15 will be adjusted against the reserves in accordance with the said standard.
  • The Board has approved the acquisition of the balance shares in Bexel Pharmaceuticals Inc., USA to make it a wholly owned subsidiary. The Board also approved winding up of Gene Arrays Inc., USA, subsidiary and BchD Biotechnological Chemical Development Limited, UK, a joint venture company.
  • The Compensation Committee of the Board at its meeting held on August 12, 2006 approved
    - the issue of 610,000 stock options to employees under Orchid ESOP 2005 scheme. The stock options are convertible into equity shares of Rs. 10/- each at a price of Rs. 193.25 per share
    - the re-pricing of 300,000 options granted on April 28, 2006 at a price of Rs. 193.25 per share, subject to the shareholders’ approval and other consents as may be required.
  • The Allottment Committee of the Board at its meeting held on October 19, 2006 has allotted 4000 shares to employees at a price of Rs.200.44 per share.
  • The Company received 21 complaints during the quarter ended September 30, 2006 from the shareholders. All the complaints have been resolved and no complaints were pending as on September 30, 2006.
  • Previous period / year figures have been regrouped wherever necessary.

Place : Chennai
Date : October 19, 2006

For and on behalf of the Board

K.Raghavendra Rao
Managing Director