Investor Relations
Audited Financial
Results for the year ended 31st March 2002
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UNAUDITED
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AUDITED |
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Nine Months Ended
31-12-2001 |
Quarter Ended
31-3-2002 |
Quarter Ended
31-3-2001 |
Year Ended
31-3-2002 |
Year Ended
31-3-2001 |
| 1 |
Net Sales/Income
from Operations |
361.02 |
114.56 |
138.82 |
475.58 |
515.07 |
| 2 |
Other Income |
5.34 |
2.86 |
3.99 |
8.20 |
8.55 |
| 3 |
Total Income |
366.36 |
117.42 |
142.81 |
483.78 |
523.62 |
| 4 |
Total Expenditure |
343.02 |
111.40 |
121.75 |
454.42 |
468.78 |
| a |
(Increase)
/ Decrease in stock in trade |
9.24 |
3.19 |
(4.55) |
12.43 |
(4.73) |
| b |
Consumption
of raw materials |
73.78 |
28.69 |
37.38 |
102.47 |
130.22 |
| c |
Staff cost |
91.53 |
28.52 |
26.54 |
120.05 |
106.52 |
| d |
Overseas
Business Expenses |
86.27 |
26.82 |
35.52 |
113.09 |
137.45 |
| e |
Other expenditure |
82.20 |
24.18 |
26.86 |
106.38 |
99.32 |
| 5 |
Interest |
1.02 |
0.22 |
0.73 |
1.24 |
3.00 |
| 6 |
Depreciation |
12.21 |
3.85 |
4.12 |
16.06 |
17.70 |
| 7 |
Profit
before Tax |
10.11 |
1.95 |
16.21 |
12.06 |
34.14 |
| 8 |
Provision
for Taxation (Net) |
(3.47) |
(4.97) |
3.63 |
(8.44) |
7.60 |
| 9 |
Net Profit
after all Taxes |
13.58 |
6.92 |
12.58 |
20.50 |
26.54 |
| 10 |
Paid-up
Equity Share Capital |
18.38 |
18.38 |
18.38 |
18.38 |
18.38 |
| 11 |
Reserves
excluding revaluation reserves |
- |
- |
- |
172.24 |
157.48 |
| 12 |
Basic &
Diluted EPS (not annualised for the quarter) |
7.39 |
3.76 |
6.85 |
11.15 |
14.44 |
| 13 |
Aggregate
of non-promoter's shareholding |
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No. of shares |
4641737 |
4641737 |
4691737 |
4641737 |
4691737 |
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% of shareholding |
25.25 |
25.25 |
25.52 |
25.25 |
25.52 |
Segment
wise Revenue, Results and Capital employed under clause 41 of
the Listing Agreement
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31-3-2002 |
1. Segment
Revenue
a. System Integration
Services
b. Manufacturing Services
c. Education
Services
Net Sales / Income from Operations |
403.12
40.64
33.96
477.72 |
2. Segment
Results
a. System Integration
Services
b. Manufacturing Services
c. Education Services
Total
Less: Interest
Less: Unallocable
expenditure net of unallocable income
Total Profit
before Tax |
8.60
17.76
(5.54)
20.82
1.24
7.52
12.06 |
3. Segment
Capital Employed
a. System Integration
Services
b. Manufacturing Services
c. Education
Services
Total
Segment Capital Employed |
134.54
9.59
(3.48)
140.65 |
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Notes:
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The
above audited results have been reviewed by the Audit Committee
and taken on record by the Board of Directors at the meeting
held on 7th June 2002.
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In
view of the interim dividend of Rs.4 per share (2000-01 dividend
: Rs.6 per share) declared on 16th May 2002 for the year 2001-02,
it has been decided not to recommend any final dividend.
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The
company's revenue and profitability continued to be impacted
in the second half of the year due to the greater than anticipated
slow down in its business, both in the domestic and overseas
markets. For the year ended 31st March 2002, Total Income
declined to Rs.483.78 crores from Rs.523.62 crores in the
previous year and Net Profit after all taxes declined to Rs.20.50
crores from Rs.26.54 crores.
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Other
expenditure includes provision for bad and doubtful debts
of Rs. 0.32 crores (net) for the quarter ended 31st
March 2002, (previous year's quarter: Rs.4.25 crores - net)
and Rs.11.94 crores (net) for the year ended31st
March 2002 (previous year: Rs.10.10 crores - net).
-
In
accordance with the new Accounting Standards AS 22 relating
to "Accounting for Taxes on Income", the company
has recorded a cumulative net deferred tax asset of Rs. 1.60
crores until 1st April 2001 as an addition to General Reserves.
Deferred tax asset for the quarter and year ended 31st March
2002 amounted to Rs.0.10 crores and Rs.3.16 crores respectively.
Since this standard has become mandatory from 1st April 2001,
figures for the previous periods have not been recast.
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Provision
for taxation for the quarter and year ended 31st March 2002
is net of Rs.2.17 crores and Rs.8.47 crores respectively pertaining
to overseas tax written back for prior years. The figures
for overseas tax written back for the quarter and year ended
31st March 2001 amounted to Rs.0.77 crores and Rs.3.11 crores
respectively. The Company has also reversed Rs.1.60 crores
of the provision for overseas tax made for the half year ended
30th
September 2001, in view of the decrease in profits.
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Segment
Revenue includes Other Income attributable to the respective
segments.
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Figures
for the previous periods have been re-grouped wherever necessary.
| Place
: Mumbai
Date : 7th
June, 2002 |
For and on
behalf of the Board of Director
Dr. Nirmal Jain
Managing Director |
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