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Orchid Chemicals & Pharmaceuticals Ltd
Unaudited Consolidated Financial Results for the Quarter/Nine months ended December 31, 2011
(Rs.Lakhs)
S. No
Particulars
Unaudited
Unaudited
Three months ended
31-Dec-11
Three months ended
31-Dec-10
Nine months ended
31-Dec-11
Nine months ended
31-Dec-10
1
 Net Sales / Income from Operations
48,210.32
46,246.47
135,384.37
118,913.00
2
 Other Operating Income
1,474.74
1,610.81
5,795.58
5,646.91
3
 Total Operating Income (1+2)
49,685.06
47,857.28
141,179.95
124,559.91
4
Expenditure
a) Decrease/ (Increase) in Stock in trade
(1,839.40)
(5,023.71)
(7,326.83)
(12,479.39)
b) Material cost
21,770.37
26,144.83
68,447.01
67,556.49
c) Purchase of Traded Goods
926.64
1,275.68
3,491.47
3,450.09
d) Employees Cost
4,902.89
4,054.66
13,798.82
11,262.69
e) Depreciation / Amortisation
3,828.94
3,223.92
11,161.79
9,765.01
f) Other Expenditure
11,021.71
8,279.78
30,357.35
26,100.85
g) Total
40,611.14
37,955.16
119,929.61
105,655.73
5
Profit from Operations before Other Income, Interest & Exceptional Item (3-4)
9,073.91
9,902.12
21,250.34
18,904.18
6
Other Income
-
2.99
1.30
267.10
7
Profit / (Loss) before Interest & Exceptional Item (5+6)
9,073.91
9,905.11
21,251.64
19,171.28
8
 Interest & Finance Charges
4,955.55
2,710.51
12,057.88
7,537.47
9
 Profit/(loss) after interest but before Exceptional Item (7-8)
4,118.37
7,194.60
9,193.76
11,633.81
10
 Exceptional Item - Gain/(Loss)
(4,906.81)
366.03
(8,159.41)
696.61
11
 Profit/(Loss) before Tax (9+10) from Ordinary activities
(788.44)
7,560.63
1,034.35
12,330.42
12
 Tax expenses
- Current Tax & Deferred Tax
318.11
1,898.31
809.18
2,581.93
13
 Net Profit/(Loss) after Tax (11-12)
(1,106.55)
5,662.32
225.17
9,748.48
14
Extraordinary item- net of tax of Rs.Nil
-
-
8,000.00
-
15
Net Profit/(Loss) for the period
(1,106.55)
5,662.32
8,225.17
9,748.48
16
 Paid-up Equity Share Capital
7,044.21
7,044.21
7,044.21
7,044.21
 
 (Face value of Rs.10/- each)
17
 Earnings per share (EPS) before extra-ordinary item
- Basic Rs.
(1.57)
8.04
0.32
13.84
- Diluted Rs.
(1.57)
6.64
0.26
11.44
18
 Earnings per share (EPS) after extra-ordinary item
- Basic Rs.
(1.57)
8.04
11.68
13.84
- Diluted Rs.
(1.57)
6.64
9.55
11.44
19
 Aggregate of Public Shareholding
- Number of equity shares
47601295
48939460
47601295
48939460
- Percentage of Shareholding
67.58
69.48
67.58
69.48
20
 Promoters and Promoter group shareholding
a. Pledged / Encumbered
- Number of shares
18260383
17653683
18260383
17653683
- Percentage of shares (as a % of the total shareholding of Promoter and Promoter group)
79.95
82.10
79.95
82.10
- Percentage of shares (as a % of the total share capital of the company)
25.92
25.06
25.92
25.06
b. Non - Encumbered
- Number of shares
4580398
3848933
4580398
3848933
- Percentage of shares (as a % of the total shareholding of Promoter and Promoter group)
20.05
17.90
20.05
17.90
- Percentage of shares (as a % of the total share capital of the company)
6.50
5.46
6.50
5.46

* EPS is for the period (not annualised)
  1. The above unaudited financial results were approved by the Board of Directors at their meeting held on Wednesday, February 08, 2012.
  2. The Statutory Auditors have conducted the limited review of standalone financial results of the Company as required by clause 41 of the Listing Agreement.
  3. The Company is operating in single segment (i.e) "Pharmaceuticals".
  4. The Board of Directors of the Company at its meeting held on 07th January 2012 has approved for the merger of Company's wholly owned subsidiary viz. Orchid Research Laboratories Ltd with the company, Pending completion of necessary formalities, no effect has been given in the books for the merger.
  5. Exceptional items for the quarter ended December 31, 2011 represents exchange loss on FCCB's / FCTL's of Rs.4906.81 lakhs (Corresponding quarter- Gain of Rs.366.03 lakhs). For the nine months ended December 31, 2011 , exceptional items represents FCTL/ FCCB's loss of Rs. 7029.70 lakhs (Corresponding nine months- Gain of Rs.696.61 lakhs)and one time closure expenses of Alathur Plant of Rs. 1129.71 lakhs. (Corresponding Nine months- Nil) 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 Company 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. This has resulted in the charge for foreign exchange loss being lower by Rs.2102.85 lakhs and Rs. 7669.37 lakhs for the quarter ended December 31, 2011 and for the nine months ended December 31,2011 respectively. The amount remaining to be amortized in the financial statements as at December 31, 2011 on account of exercising the above option is Rs.7669.37 lakhs (corresponding Nine months Rs. 1159.22 lakhs)
  6. 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 nine months ended December 31, 2011 .
  7. The Company received 8 complaints during the quarter ended December 31, 2011 from the shareholders and no complaints were pending at the close of the quarter.
  8. Previous period figures have been regrouped wherever necessary.

Place: Chennai
Date: February 08, 2012

For and on behalf of the Board

K.Raghavendra Rao
Chairman & Managing Director