 
Click here to view Assets and Liabilities Statement for the Half year ended September 30, 2012
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Orchid Chemicals & Pharmaceuticals Ltd.
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UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER/ HALF YEAR ENDED SEPTEMBER 30, 2012 |
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(Rs.Lakhs) |
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Standalone |
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Unaudited |
Audited |
S.No
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Particulars
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Three months ended
30-Sep-12
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Three months ended
30-Jun-12
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Three months ended
30-Sep-11
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Six months ended
30-Sep-12
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Six months ended
30-Sep-11
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Year ended
31-Mar-12
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| 1 |
Income from Operations |
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a) Net Sales/Income from Operations (Net of Excise Duty) |
33054.81 |
31563.15 |
41222.25 |
64617.96 |
78598.27 |
170170.80 |
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b) Other Operating Income |
- |
4159.90 |
726.97 |
4159.90 |
1709.84 |
6293.47 |
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c) Total income from operations (Net) (a+b) |
33054.81 |
35723.05 |
41949.22 |
68777.86 |
80308.11 |
176464.27 |
| 2 |
Expenses |
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a) Cost of materials consumed |
15202.02 |
10193.28 |
18363.10 |
25395.30 |
40341.92 |
80241.50 |
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b) Purchases of stock-in-trade |
1420.27 |
1538.32 |
1129.29 |
2958.59 |
2564.83 |
4546.38 |
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c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(914.03) |
7204.14 |
(641.03) |
6290.11 |
(5487.43) |
(6201.86) |
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d) Employee benefit expense |
4130.37 |
3761.80 |
3568.60 |
7892.17 |
7435.39 |
15464.59 |
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e) Depreciation/Amortisation |
3955.09 |
3991.26 |
3597.59 |
7946.35 |
7128.06 |
14905.56 |
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f) Other Expenses |
9272.27 |
7444.46 |
8938.37 |
16716.73 |
16097.67 |
41242.32 |
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g) Total Expenses |
33065.99 |
34133.26 |
34955.92 |
67199.25 |
68080.44 |
150198.49 |
| 3 |
Profit/(Loss) from operations before other income, finance costs, exceptional items (1-2) |
(11.18) |
1589.79 |
6993.30 |
1578.61 |
12227.67 |
26265.78 |
| 4 |
Other Income |
1.31 |
- |
1.30 |
1.31 |
1.30 |
1.59 |
| 5 |
Profit/(Loss) from ordinary activities before finance costs and exceptional items (3+4) |
(9.87) |
1589.79 |
6994.60 |
1579.92 |
12228.97 |
26267.37 |
| 6 |
Finance costs |
7647.05 |
7132.59 |
4006.69 |
14779.64 |
7081.43 |
17905.29 |
| 7 |
Profit/(Loss) from ordinary activities after finance costs but before exceptional
items (5-6) |
(7656.92) |
(5542.80) |
2987.91 |
(13199.72) |
5147.54 |
8362.08 |
| 8 |
Exceptional Items - Gain/(Loss) |
4621.98 |
(808.04) |
(8644.71) |
3813.94 |
(8819.27) |
(8388.14) |
| 9 |
Profit/(Loss) from ordinary activities before Tax (7+8) |
(3034.94) |
(6350.84) |
(5656.80) |
(9385.78) |
(3671.73) |
(26.06) |
| 10 |
Tax expenses |
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- Current Tax & Deferred Tax |
(1040.33) |
(1270.66) |
- |
(2310.99) |
430.82 |
(2337.22) |
| 11 |
Net Profit/(Loss) from ordinary activities after Tax (9-10) |
(1994.61) |
(5080.18) |
(5656.80) |
(7074.79) |
(4102.55) |
2311.16 |
| 12 |
Extraordinary item (net of tax expenses Rs.nil) |
- |
- |
8000.00 |
- |
8000.00 |
8000.00 |
| 13 |
Net Profit/(Loss) for the period (11+12) |
(1994.61) |
(5080.18) |
2343.20 |
(7074.79) |
3897.45 |
10311.16 |
| 14 |
Paid-up Equity Share Capital |
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(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 |
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- Basic Rs. |
(2.83)* |
(7.21)* |
(8.03)* |
(10.04)* |
(5.82)* |
3.28 |
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- Diluted Rs. |
(2.83)* |
(7.21)* |
(8.03)* |
(10.04)* |
(5.82)* |
3.24 |
| 17 |
Earnings per share (EPS) after extra-ordinary items of Rs.10/- each |
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- Basic Rs. |
(2.83)* |
(7.21)* |
3.33* |
(10.04)* |
5.53* |
14.64 |
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- Diluted Rs. |
(2.83)* |
(7.21)* |
2.75* |
(10.04)* |
4.57* |
14.46 |
| A |
PARTICULARS OF SHAREHOLDING |
| 1 |
Public Shareholding |
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- Number of equity shares |
47611295 |
47611295 |
49427854 |
47611295 |
49427854 |
47601295 |
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- Percentage of Shareholding |
67.58 |
67.58 |
70.17 |
67.58 |
70.17 |
67.57 |
| 2 |
Promoters and Promoter group shareholding |
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a. Pledged/Encumbered |
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- Number of shares |
17676037 |
17110383 |
16210383 |
17676037 |
16210383 |
17060383 |
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- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
77.39 |
74.91 |
77.14 |
77.39 |
77.14 |
74.69 |
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- Percentage of shares (as a % of the total share capital of the company) |
25.09 |
24.29 |
23.01 |
25.09 |
23.01 |
24.22 |
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b. Non - Encumbered |
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- Number of shares |
5164744 |
5730398 |
4803839 |
5164744 |
4803839 |
5780398 |
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- Percentage of shares (as a % of the total shareholding of the promoter and promoter group) |
22.61 |
25.09 |
22.86 |
22.61 |
22.86 |
25.31 |
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- Percentage of shares (as a % of the total share capital of the company) |
7.33 |
8.13 |
6.82 |
7.33 |
6.82 |
8.21 |
| B |
INVESTOR COMPLAINTS |
3 Months ended 30-Sep-2012 |
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Pending at the beginning of the quarter |
- NIL - |
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Received during the quarter |
32 |
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Disposed off during the quarter |
32 |
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Remaining unresolved at the end of the quarter |
- NIL - |
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| * EPS for the period (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 November 09, 2012 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 |
Consolidated Results of the company |
Three months ended
30-Sep-12 |
Three months ended
30-Jun-12 |
Three months ended
30-Sep-11 |
Six months ended
30-Sep-12 |
Six months ended
30-Sep-11 |
Year ended
31-Mar-12 |
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Total Operating Income |
37837.16 |
40670.74 |
46571.68 |
78507.90 |
91494.89 |
190199.09 |
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EBIDTA |
8365.54 |
4602.86 |
9797.09 |
12968.40 |
18691.32 |
40892.58 |
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Profit After Tax |
(2400.25) |
(5402.51) |
2072.81 |
(7802.77) |
3765.06 |
9747.84 |
| 4 |
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. |
| 5 |
The Board has approved the transfer of Orchid's 50% equity holding of its Joint venture NCPC, Orchid Pharmaceuticals Co.Ltd, China to Joint Venture partner in China. |
| 6 |
Exceptional items for the quarter ended September 30, 2012 represents profit on sale of Investments in the Joint Venture in China of Rs. 5126.48 lakhs (Previous period - Rs. NIL), exchange loss on FCCBs / FCTLs of Rs.504.5 lakhs (Corresponding quarter - Loss of Rs. 7582.30 lakhs) and one time closure cost of Alathur Plant for the quarter ended September 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 September 30, 2012 on account of exercising the above option is Rs.7883.02 lakhs (Corresponding period ended - Rs.NIL) |
| 7 |
Previous period figures have been regrouped wherever necessary. |
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Place: Chennai
Date: November 09, 2012 |
For and on behalf of the Board
S Krishnan
Executive Director - Finance
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