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Click here to view Assets and Liabilities Statement for the Half year ended September 30, 2011

Orchid Chemicals & Pharmaceuticals Ltd.
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER/ HALF YEAR ENDED SEPTEMBER 30, 2011
(Rs.Lakhs)
   
Unaudited
Unaudited
Audited
S.No
Particulars
Three months ended
30-Sep-11
Three months ended
30-Sep-10
Six months ended
30-Sep-11
Six months ended
30-Sep-10
Year ended
31-Mar-11
1
 Net Sales / Income from Operations
41222.25
36832.34
78598.27
67182.34
159467.88
2
 Other Operating Income
726.97
1347.38
1709.84
4090.22
7359.63
3
 Total Operating Income (1+2)
41949.22
38179.72
80308.11
71272.56
166827.51
4
Expenditure
a) Decrease/(Increase) in Stock in trade
(641.03)
(5263.25)
(5487.43)
(7455.68)
(11964.59)
b) Material Cost
18363.1
21239.08
40341.92
37463.6
86798.76
c) Purchase of Traded Goods
1129.29
1213.06
2564.83
2174.42
3961.66
d) Employees Cost
3568.6
3234.38
7435.39
6267.23
14138.46
e) Depreciation / Amortisation
3597.59
3117.83
7128.06
6343.86
12845.43
f) Other Expenditure
8938.37
10408.76
16097.67
17085.36
34258.68
g) Total
34955.92
33949.86
68080.44
61878.79
140038.40
5
Profit from Operations before Other Income, Interest & Exceptional Item (3-4)
6993.30
4229.86
12227.67
9393.77
26789.11
6
Other Income
1.30
264.11
1.30
264.11
267.1
7
Profit/(Loss) before Interest & Exceptional Item (5+6)
6994.60
4493.97
12228.97
9657.88
27056.21
8
 Interest and Finance Charges
4006.69
2511.21
7081.43
4782.49
11576.50
9
 Profit/(Loss) after interest but before Exceptional Item (7-8)
2987.91
1982.76
5147.54
4875.39
15479.71
10
 Exceptional Item - Gain/(Loss)
(8644.71)
812.56
(8819.27)
330.57
1900.78
11
 Profit/(Loss) before Tax (9+10) from ordinary activities
(5656.80)
2795.32
(3671.73)
5205.96
17380.49
12
 Tax expenses    
   
 - Current Tax & Deferred Tax
-
393.83
430.82
642.99
1432.13
13
 Net Profit/(Loss) after Tax (11-12)
(5656.80)
2401.49
(4102.55)
4562.97
15948.36
14
Extraordinary Item (net of tax of Rs.Nil)
8000.00
-
8000.00
-
-
15
Net Profit/(Loss) for the period (13+14)
2343.20
2401.49
3897.45
4562.97
15948.36
16
 Paid- up Equity Share Capital
(Face value of Rs. 10/- each)
7044.21
7044.21
7044.21
7044.21
7044.21
17
 Reserves excluding Revaluation Reserves
-
-
-
-
106358.27
18
 Earnings per Share (EPS) before extra-ordinary Item    
   
 
- Basic Rs.
(8.03)*
3.41*
(5.82)*
6.48*
22.64
 
- Diluted Rs.
(8.03)*
2.71*
(5.82)*
5.16*
18.71
19
 Earnings per share (EPS) after extra-ordinary Item    
   
 
- Basic Rs.
3.33*
3.41*
5.53*
6.48*
22.64
 
- Diluted Rs.
2.75*
2.71*
4.57*
5.16*
18.71
20
Aggregate of Public Shareholding
    
   
 

- Number of equity shares
49427854
48696460
49427854
48696460
48939460
  - Percentage of Shareholding
70.17
69.13
70.17
69.13
69.47
21
 Promoters and Promoter group shareholding          
  a. Pledged / Encumbered          
  - Number of shares
16210383
15122883
16210383
15122883
17181383
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group)
77.14
69.54
77.14
69.54
79.90
  - Percentage of shares (as a % of the total share capital of company)
23.01
21.47
23.01
21.47
24.39
  b. Non - Encumbered    
   
  - Number of shares
4803839
6622733
4803839
6622733
4321233
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group)
22.86
30.46
22.86
30.46
20.10
  - Percentage of shares (as a % of the total share capital of company)
6.82
9.40
6.82
9.40
6.14
             
* EPS is for the period (not annualised)
1 The above unaudited financial results were approved by the Board of Directors at its meeting held on Tuesday, November 01, 2011 and have been subjected to limited review by the Statutory Auditors.
2 The Company is operating in single segment (i.e) "Pharmaceuticals".
3 Consolidated Results of the company Three months ended 30-Sep-11 Three months ended 30-Sep-10 Six months ended 30-Sep-11 Six months ended 30-Sep-10 Audited year
ended 31-Mar-11
  Total Operating Income  46571.68 40245.83 91494.89 76702.63 178560.24
  EBIDTA (Before Exceptional Item) 10436.89 7094.28 19505.68 15807.26 41987.27
  Profit After Tax  2072.81 1732.90 3765.06 4086.16 15618.69
4 Exceptional items represents exchange gain / (loss) on FCCBs, FCTL's of Rs. 7689.56 lakhs (previous period - gain of Rs. 330.57 lakhs) and one time closure cost of alathur plant of Rs.1129.71 lakhs (previous period - nil).
5 Extraordinary Item - net of tax represents write back of certain provisions made for rebates and discounts as the amounts have been fully realised during the quarter. 
6 The Board approved the re-pricing of 864500 options granted on October 28, 2010 from Rs. 329.55 to Rs. 166.15 per share, subject to the shareholders' approval and other consents as may be required.
7 The Compensation Committee of the Board at its meeting held on November 01, 2011 approved  
   -  the issue of 42700 stock options to the employees of the Company under Orchid ESOP - Senior Management 2011 scheme. The stock options are to be issued at par and are convertible into equity shares of Rs. 10/- each. 
   -  the issue of 300000 stock options to the Directors of the Company under Orchid ESOP - Directors 2011 Scheme. The stock options are convertible into equity shares of Rs. 10/- each at a price of Rs. 166.15 per share.
8 On July 09, 2011, TNPCB had served a closure order to Orchid's Cephalosporin API manufacturing facility located in Alathur and the unit was closed. Subsequently, the TNPCB officials carried out an inspection and revoked the closure order on 16.08.2011. The expenditure incurred during the period to keep the plants in operational condition amounting to Rs.1129.71 lakhs has been shown under exceptional Item.
9 On September 25, 2011, a fire broke out in a portion of the New Drug Discovery Laboratories located in the Company's research subsidiary Orchid Research Laboratories Limited, Shozhanganallur, Chennai. There was damage to laboratory equipment, furniture and building interiors. However, there were no injuries to anyone. There is no possible loss to the Company as the assets are fully insured.
10 The Company received 19 complaints during the quarter ended  30th September, 2011 from the shareholders and no complaints were pending at the close of the quarter.
11 Previous period figures have been regrouped wherever necessary.  

Place : Chennai
Date : November 01, 2011

For and on behalf of the Board

K.Raghavendra Rao
Managing Director