| Orchid Chemicals & Pharmaceuticals Ltd. | ||||||||
| UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2013 | ||||||||
| (Rs.Lakhs) | ||||||||
| Standalone | ||||||||
| S.No | Particular | Unaudited | Audited | |||||
| Three months ended 31-Mar-13 |
Three months ended 31-Dec-12 |
Three months ended 31-Mar-12 |
Twelve months ended 12-Mar-13 |
Twelve months ended 31-Mar-12 |
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| 1 | Net Sales / Income from Operations (Net of Excise Duty) | 26815.67 | 31352.96 | 45191.75 | 122786.59 | 170170.80 | ||
| 2 | Other operating Income | - | - | 3886.51 | 4159.90 | 6293.47 | ||
| 3 | Total operating income (1+2) | 26815.67 | 31352.96 | 49078.26 | 126946.49 | 176464.27 | ||
| 4 | Expenditure | |||||||
| a) Cost of materials consumed | 12694.76 | 9352.92 | 18573.79 | 47442.99 | 80241.50 | |||
| b) Purchases of stock-in-trade | 644.38 | 1370.12 | 1054.91 | 4973.10 | 4546.38 | |||
| c) Changes in inventories of finished goods, work-in-progress and stock-in-trade | 204.75 | 6613.47 | 1124.96 | 13108.34 | (6201.86) | |||
| d) Employee benefit expense | 3728.41 | 4084.56 | 4004.85 | 15705.13 | 15464.59 | |||
| e) Depreciation/Amortisation | 3863.41 | 3906.01 | 4041.37 | 15715.76 | 14905.56 | |||
| f) Other Expenses | 8145.87 | 7596.62 | 15369.14 | 32459.22 | 41242.32 | |||
| g) Total | 29281.58 | 32923.70 | 44169.02 | 129404.54 | 150198.49 | |||
| 5 | Profit from Operations before Other Income, Interest Exceptional Item (3-4) |
(2465.91) | (1570.74) | 4909.24 | (2458.05) | 26265.78 | ||
| 6 | Other Income | - | - | 0.29 | 1.31 | 1.59 | ||
| 7 | Profit/(Loss) from ordinary activities before finance costs and exceptional item (5+6) |
(2465.91) | (1570.74) | 4909.53 | (2456.74) | 26267.37 | ||
| 8 | Finance cost | 8576.43 | 7069.30 | 5878.55 | 30425.38 | 17905.29 | ||
| 9 | Profit/(Loss) from ordinary activities after finance cost but before exceptional item (7-8) |
(11042.34) | (8640.04) | (969.02) | (32882.12) | 8362.08 | ||
| 10 | Exceptional Item - Gain/(Loss) | (639.64) | (559.18) | (228.73) | 2615.12 | (8388.14) | ||
| 11 | Profit/(Loss) from ordinary activities before Tax (9+10) | (11681.98) | (9199.22) | (1197.75) | (30267.00) | (26.06) | ||
| 12 | Tax expenses | |||||||
| - Current Tax & Deferred Tax | 1544.86 | (1963.45) | (3252.87) | (2729.58) | (2337.22) | |||
| 13 | Net Profit/(Loss) from ordinary activities after Tax (11-12) | (13226.84) | (7235.77) | 2055.12 | (27537.42) | 2311.16 | ||
| 14 | Extraordinary item (net of tax expenses Rs.nil) | - | - | 8000.00 | ||||
| 15 | Net Profit/(Loss) for the period (13+14) | (13226.84) | (7235.77) | 2055.12 | (27537.42) | 10311.16 | ||
| 16 | Paid-up Equity Share Capital (Face value of Rs.10/- each) |
7045.21 | 7045.21 | 7044.21 | 7045.21 | 7044.21 | ||
| 17 | Reserves excluding Revaluation Reserves | - | - | - | - | 112410.89 | ||
| 18 | Earnings per share (EPS) before extra-ordinary items of Rs.10/- each* | |||||||
| - Basic Rs. | (18.77) | (10.27) | 2.92 | (39.09) | 3.28 | |||
| - Diluted Rs. | (18.77) | (10.27) | 2.92 | (39.09) | 3.24 | |||
| 19 | Earnings per share (EPS) after extra-ordinary items of Rs.10/- each* | |||||||
| - Basic Rs. | (18.77) | (10.27) | 2.92 | (39.09) | 14.64 | |||
| - Diluted Rs. | (18.77) | (10.27) | 2.92 | (39.09) | 14.46 | |||
| A | PARTICULARS OF SHAREHOLDING | |||||||
| 1 | Public Shareholding | |||||||
| - Number of equity shares | 47711295 | 47611295 | 47601295 | 47711295 | 47601295 | |||
| - Percentage of Shareholding | 67.72 | 67.58 | 67.58 | 67.72 | 67.57 | |||
| 2 | Promoters and Promoter group shareholding | |||||||
| a. Pledged/Encumbered | ||||||||
| - Number of shares | 17616262 | 17818645 | 17060383 | 17616262 | 17060383 | |||
| - Percentage of shares (as a % of the total shareholding of Promoter and Promoter group) |
77.47 | 78.01 | 74.69 | 77.47 | 74.69 | |||
| - Percentage of shares (as a % of the total share capital of the company) |
25.00 | 25.29 | 24.22 | 25.00 | 24.22 | |||
| b. Non - Encumbered | ||||||||
| - Number of shares | 5124519 | 5022136 | 5780398 | 5124519 | 5780398 | |||
| - Percentage of shares (as a % of the total shareholding of the Promoter and Promoter group) |
22.53 | 21.99 | 25.31 | 22.53 | 25.31 | |||
| - Percentage of shares (as a % of the total share capital of the company) |
7.28 | 7.13 | 8.21 | 7.28 | 8.21 | |||
| B | INVESTOR COMPLAINTS | 3 Months ended 31-Mar-2013 | ||||||
| Pending at the beginning of the quarter | -NIL- | |||||||
| Received during the quarter | 17 | |||||||
| Disposed of during the quarter | 17 | |||||||
| Remaining unresolved at the end of the quarter | -NIL- | |||||||
| * EPS for the period (except for the year ended on March 31, 2012 & March 31, 2013) is 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 May 15, 2013 and have been subjected to limited review by the Statutory Auditors in terms of Clause 41 of the Listing Agreement. | |||||||
| 2 | Exceptional items for the twelve months ended March 31, 2013 represents profit on sale of Investments in the Joint Venture in China of Rs. 5333.76 lakhs (Previous period - Rs. NIL), exchange loss on FCCBs / FCTLs of Rs. 2718.64 lakhs (Corresponding period - Loss of Rs. 6125.51 lakhs), One time closure cost of Alathur Plant is Rs. NIL (Previous period - Rs.2262.63 lakhs). Exceptional items for this quarter includes exchange loss on FCCBs / FCTLs of Rs. 639.64 lakhs (Corresponding quarter- Gain Rs. 904.19 lakhs). One time closure cost of Alathur Plant for the quarter ended March 2013 is Rs. NIL (Previous period - Rs.1132.92 lakhs). The Company has 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 March 31, 2013 on account of exercising the above option is Rs.7414.39 lakhs (Corresponding period ended - Rs.4824.12 lakhs). | |||||||
| 3 | The Board has decided to close the Financial year of the Company on June 30, 2013 by extending the financial year by 3 months. | |||||||
| 4 | The Transaction with Hospira Healthcare (India) Private Ltd. relating to the sale and transfer of Orchid's Pencillin and Penem API Business and the API facility located at Aurangabad (Maharashtra) together with associated process R & D Infrastructure located in Chennai is expected to be completed by June 30, 2013. | |||||||
| 5 | The Company is in the process of negotiation with Banks, Financial Institutions and others for settlement of dues. The amount of penal interest and other charges payable would be determined on completion of the negotiations. Hence provision for liability, if materialises, will be made on conclusion of negotiations. | |||||||
| 6 | The Company is operating in single segment (i.e) "Pharmaceuticals". | |||||||
| 7 | Previous period figures have been regrouped wherever necessary. | |||||||
| For and on behalf of the Board | ||||||||
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