Orchid Chemicals & Pharmaceuticals Ltd.
Audited Financial Results for the year ended March 31, 2010
(Rs. Lakhs)
S.No
Particulars
Audited
Stand alone
Consolidated
31-Mar-10
31-Mar-09
31-Mar-10
31-Mar-09
1
 Net Sales
120,518.59

115,676.96
129,872.31
126,002.49
2
 Other Operating Income
4,585.61
5,450.12
4,473.02
5,553.28
3
Total Operating Income (1+2)
125,104.20
121,127.08
134,345.33
131,555.77
4
 Expenditure        

a) Decrease/(Increase) in Stock in trade
26,945.14
(6,478.32)
27,303.80
(7,246.23)
b) Material Cost
47,207.23
53,881.65
53,276.96
62,180.45
c) Purchase of Trades Goods
3,373.83
3,627.66
3,373.83
3,627.67
 
d) Employees Cost
15,929.17
12,288.42
17,448.09
13,746.11
 
e) Depreciation / Amortisation
15,110.40
12,997.21
15,489.96
13,399.25
 
f) Other Expenditure
48,763.98
29,235.43
48,596.45
29,546.07
g) Total
157,329.75
105,552.05
165,489.09
115,253.32
5
Profit from Operations before other Income, Interest & Exceptional Item (3 - 4)
(32,225.55)
15,575.03
(31,143.76)
16,302.45
6
Other Income
7.41
301.85
7.41
4.00
7
Profit before Interest & Exceptional Item (5+6)
(32,218.14)
15,876.88
(31,136.35)
16,306.45
8
 Interest & Finance Charges
24,123.31
15,518.60
24,227.03
15,645.01
9
Profit/(loss) after interest but before Exceptional Item (7-8)
(56,341.45)
358.28
(55,363.38)
661.44
10
Exceptional Item - gain/(loss)
816.55
(4,043.10)
816.55
(4,043.10)
11

Profit/ (Loss) before Tax (9+10)
(55,524.90)
(3,684.82)
(54,546.83)
(3,381.65)
12
Tax expenses
        
     - Current Tax & Deferred Tax
- 
1,371.65
- 
1,350.09
     - Fringe Benefit Tax
- 
161.00
- 
167.25
13
 Net Profit/ (Loss) after Tax (11-12)
(55,524.90)
(5,217.47)
(54,546.83)
(4,898.99)
14
Extraordinary Item (net of tax of Rs.12871.42 lakhs)
88,658.86
88,472.21
15
Net Profit/(Loss) for the year
33,133.96
(5,217.47)
33,925.38
(4,898.99)
16
Paid- up Equity Share Capital (Face value of Rs. 10 each)
7,044.21
7,044.21
7,044.21
7,044.21
17
Reserves excluding Revaluation Reserves
90,919.30
59,977.31
86,721.74
56,335.56
18
Earnings per share(EPS) before extraordinary item
        
 
   - Basic Rs.
(78.82)
(7.61)
(77.44)
(7.14)
 
   - Diluted Rs.
(78.82)
(7.61)
(77.44)
(7.14)
19
Earnings per share(EPS) after extraordinary item
        
 
   - Basic Rs.
47.04
-  
48.16
-  
 
   - Diluted Rs.
37.31
-  
38.21
-  
20
Aggregate of Public Shareholding
     - Number of equity shares
52,128,460
55,525,904
52,128,460
55,525,904
     - Percentage of Shareholding
74.00
78.82
74.00
78.82
21
Promoters and Promoter group shareholding
a. Pledged / Encumbered
- Number of shares
15,123,760
6,258,000
15,123,760
6,258,000
 
- Percentage of shares (as a % of the total shareholding of promoter and promoter group)
82.58
41.95
82.58
41.95
 
- Percentage of shares (as a % of the total share capital of company)
21.47
8.88
21.47
8.88
 
b. Non - Encumbered
 
- Numbers of shares
3,189,856
8,658,172
3,189,856
8,658,172
 
- Percentage of shares (as a % of the total shareholding of promoter and promoter group)
17.42
58.05
17.42
58.05
 
- Percentage of shares (as a % of the total share capital of company)
4.53
12.30
4.53
12.30
 
  1. The above audited financial results were approved by the Board of Directors at its meeting held on Thursday, May 27, 2010.
  2. On March 30, 2010, the Company has completed the transaction for sale and transfer of its generic injectable finished dosage forms pharmaceuticals business to Hospira Healthcare India Pvt. Ltd., a subsidiary of Hospira, Inc.USA. The Profit on such sale of undertaking is classified under extraordinary item. Further, consequent to such sale, valuation of stock was done in line with the agreement entered with the buyer resulting in higher consumption of material for the year.
  3. The Company is operating in single segment (i.e) "Pharmaceuticals".
  4. The Company has exercised the option provided under the Companies (Accounting Standards) Amendment Rules, 2006 dated 31st March, 2009 in respect of AS 11. The amount remaining to be amortized in the financial statements as on March 31, 2010 on account of exercising the above option is Rs.(1761.46) lakhs (Previous year Rs.8357.94 lakhs).
  5. Exceptional items represents exchange losses on FCCBs. This figure is net off cancellation gain on repurchase of FCCBs of Rs.816.55 lakhs for the period ended March 31,2010 (Previous Year Rs.(4043.10) lakhs).
  6. The Board of Directors has recommended a dividend of Rs.10/- per share on the equity share of Rs.10/- each.
  7. The Compensation Committee of the Board at its meeting held on April 28, 2010, approved an Employee Stock Option Plan for issue of 10,00,000 stock option to employees, subject to the approval of shareholders.
  8. The Company received 14 complaints during the quarter ended March 31, 2010 from the shareholders and no complaints were pending as on March 31, 2010.
  9. Previous year figures have been regrouped wherever necessary.

Place : Chennai
Date : 27-05-2010

For and on behalf of the Board

K. Raghavendra Rao
Managing Director