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Orchid Chemicals & Pharmaceuticals Ltd.
Unaudited Financial Results for half year ended September 30, 2008
(Rs.Lakhs)
   
Standalone Accounts
Consolidated Accounts
S.No
Particulars
Three months ended
30-Sep-08
(Unaudited)
Three months ended
30-Sep-07
(Unaudited)
Six months ended 30-Sep-08 (Unaudited)
Six months ended 30-Sep-07 (Unaudited)
Year ended 31-Mar-08 (Audited)
1
 Net Sales
33,914.02
28,570.56
62,169.14
51,327.53
119,164.08
2
 Other Operating Income
930.64
788.65
3,307.44
1,659.01
4,849.94
3
 Total Operating Income (1+2)
34,844.66
29,359.21
65,476.58
52,986.54
124,014.02
4
Total Expenditure
a) Decrease/(Increase) in Stock in trade
(3,503.58)
(4,870.53)`
(9,159.74)
(8,061.50)
(1,933.77)
b) Material Cost
16,512.60
12,309.66
30,857.51
21,598.33
42,829.35
c) Purchase of Traded Goods
1,158.80
590.31
2,155.37
1,434.28
2,569.32
d) Employees Cost
2,955.46
2,388.50
5,830.27
4,615.98
9,989.76
e) Depreciation / Amortisation
3,310.75
2,232.46
6,428.39
4,531.22
9,766.78
f) Other Expenditure
7,688.57
8,541.47
16,927.77
16,378.36
35,954.29
g) Total
28,122.60
21,191.87
53,039.57
40,496.67
99,175.73
5
Profit from Ordinary Activities before Interest & Exceptional Item (3-4)
6,722.06
8,167.34
12,437.01
12,489.87
24,838.29
6
Other Income
0.88
0.28
1.62
0.28
1.80
7
Profit before Interest & Exceptional Item (5+6)
6,722.94
8,167.62
12,438.63
12,490.15
24,840.09
8
 Interest and Finance Charges
3,122.84
1,715.41
6,147.31
3,733.27
8,112.63
9
 Profit after interest but before Exceptional Item (7-8)
3,600.10
6,452.21
6,291.32
8,756.88
16,727.46
10
 Exceptional Item
(8,157.75)
1,975.80
(14,037.47)
7,261.98
7,126.67
11
 Profit/(Loss) before Tax (9+10)
(4,557.65)
8,428.01
(7,746.15)
16,018.86
23,854.13
12
 Tax expenses
 - Current Tax & Deferred Tax
(537.60)
2,074.73
(596.51)
4,494.78
5,250.52
 - Fringe Benefit Tax
46.00
26.00
81.00
67.00
150.00
13
 Net Profit/(Loss) After Tax (11-12)
(4,066.05)
6,327.28
(7,230.64)
11,457.08
18,453.61
14
 Paid- up Equity Share Capital (Face value of Rs. 10 each)
7,044.21
6,582.80
7,044.21
6,582.80
6,585.08
15
 Reserves excluding Revaluation Reserves
-
-
62,224.44
16
 Basic Earnings per Share (EPS) Rs.
(5.93)*
9.61*
(10.54)*
17.41*
28.03
17
 Diluted Earnings per Share (EPS) Rs.
(5.93)*
6.46*
(10.54)*
11.69*
18.85
18
Aggregate of Public Shareholding
 

-Number of equity shares
55534904
50218854
55534904
50218854
55398604
  -Percentage of Shareholding
78.84
76.29
78.84
76.29
84.13
* 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 30, 2008.
  • The Company is operating in single segment (i.e) "Pharmaceuticals".
  • Exceptional items represent exchange gain / (loss) on Foreign Currency Convertible Bonds.
  • During the quarter, the company has entered into Joint Venture agreement with Diakron Pharmaceuticals Inc., USA, and invested US$ 1.7 million.
  • The Allotment Committee of the Board has allotted shares as follows :
    - 3,81,000 equity shares at a price of Rs. 202.58 per share to Promoter / Promoter group(s) on August 13, 2008 on conversion of warrants.
    - 4,000 equity shares (3,000 shares at an adjusted price of Rs. 200.44 per share to employees under ORCHID ESOP 1999 Scheme and 1,000
    shares at a price of Rs.193.25 per share under ORCHID ESOP 2005 Scheme), on August 13, 2008.
    - 41,79,000 equity shares at a price of Rs. 202.58 per share to Promoter / Promoter group(s) on August 29, 2008 on conversion of warrants.
    - 1,500 shares at a price of Rs. 193.25 per share to employees under ORCHID ESOP 2005 Scheme, on August 29, 2008.
  • The Company received 8 complaints during the quarter ended September 30, 2008 from the shareholders. All the complaints have been resolved and
    no complaints were pending as on September 30, 2008.
  • The above results have been subjected to limited review by the Statutory Auditors.
  • Previous period figures have been regrouped wherever necessary.

Place : Chennai
Date : October 30, 2008

For and on behalf of the Board

K.Raghavendra Rao
Managing Director