|
Unaudited Financial Results for the Quarter and Half Year Ended 30th September, 2009
|
Particulars |
Standalone |
Consolidated |
|
Quarter ended |
Half Year ended |
Year ended |
Quarter ended |
Half Year ended |
Year ended |
|
30.09.2009 |
30.09.2008 |
30.09.2009 |
30.09.2008 |
31.03.2009 |
30.09.2009 |
30.09.2008 |
30.09.2009 |
30.09.2008 |
31.03.2009 |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
|
1. (a) |
Net Sales / Income from Operations |
585.57 |
630.46 |
1128.82 |
1162.43 |
2061.09 |
747.26 |
790.20 |
1455.39 |
1510.23 |
2804.92 |
|
(b) |
Other Operating Income |
2.90 |
2.57 |
4.52 |
5.04 |
14.11 |
19.50 |
13.62 |
38.44 |
24.46 |
46.71 |
|
2. |
Total Revenue |
588.47 |
633.03 |
1133.34 |
1167.47 |
2075.20 |
766.76 |
803.82 |
1493.83 |
1534.69 |
2851.63 |
|
3. |
Expenditure |
|
|
|
|
|
|
|
|
|
|
|
|
a) Decrease / (Increase) in Stock in Trade and Work In Process |
12.32 |
(29.58) |
5.81 |
(49.01) |
(21.17) |
12.32 |
(29.49) |
5.81 |
(48.97) |
(22.87) |
|
|
b) Consumption of Raw Materials (Net) |
337.20 |
434.12 |
656.36 |
783.72 |
1337.82 |
337.20 |
436.53 |
656.36 |
784.83 |
1351.52 |
|
|
c) Purchase of Traded Goods |
9.38 |
9.68 |
25.90 |
16.01 |
42.26 |
9.38 |
9.68 |
25.90 |
16.01 |
42.26 |
|
|
d) Employee Cost |
47.10 |
42.75 |
90.57 |
80.87 |
155.19 |
71.96 |
67.15 |
137.81 |
128.17 |
239.38 |
|
|
e) Depreciation |
16.20 |
14.63 |
31.39 |
29.12 |
59.12 |
21.27 |
19.12 |
41.17 |
37.74 |
79.69 |
|
|
f) Other Expenditure |
118.94 |
121.46 |
225.82 |
238.31 |
452.51 |
241.38 |
232.68 |
462.98 |
476.33 |
945.82 |
|
|
g) Total |
541.14 |
593.06 |
1035.85 |
1099.02 |
2025.73 |
693.51 |
735.67 |
1330.03 |
1394.11 |
2635.80 |
|
4. |
Profit From Operations before Other Income, Interest and
Exceptional Items { 2 - 3 } |
47.33 |
39.97 |
97.49 |
68.45 |
49.47 |
73.25 |
68.15 |
163.80 |
140.58 |
215.83 |
|
5. |
Other Income |
0.75 |
8.81 |
0.95 |
10.95 |
15.08 |
0.79 |
8.87 |
1.15 |
11.06 |
16.29 |
|
6. |
Profit Before Interest and Exceptional Items { 4 + 5 } |
48.08 |
48.78 |
98.44 |
79.40 |
64.55 |
74.04 |
77.02 |
164.95 |
151.64 |
232.12 |
|
7. |
Interest |
6.85 |
7.24 |
14.17 |
13.08 |
28.19 |
42.73 |
54.83 |
94.11 |
103.95 |
212.31 |
|
8. |
Profit After Interest but before Exceptional Items { 6 - 7} |
41.23 |
41.54 |
84.27 |
66.32 |
36.36 |
31.31 |
22.19 |
70.84 |
47.69 |
19.81 |
|
9. |
Exceptional Items |
|
|
|
|
|
|
|
|
|
|
|
|
a) Profit on Sale of Long Term Investments |
|
14.82 |
|
46.66 |
46.66 |
|
14.82 |
|
46.66 |
46.66 |
|
|
b) Provision for Dimunition in value of Investments |
(30.21) |
|
(30.21) |
|
|
|
|
|
|
|
|
|
c) Others (Share in Joint Venture) |
|
|
|
|
|
(1.82) |
|
(2.49) |
|
(4.99) |
|
10. |
Profit Before Tax from Ordinary Activities { 8 + 9} |
11.02 |
56.36 |
54.06 |
112.98 |
83.02 |
29.49 |
37.01 |
68.35 |
94.35 |
61.48 |
|
11. |
Tax Expense |
4.22 |
14.29 |
18.81 |
22.62 |
10.84 |
1.46 |
12.82 |
17.03 |
23.56 |
7.05 |
|
12. |
Profit After Tax { 10 - 11 } |
6.80 |
42.07 |
35.25 |
90.36 |
72.18 |
28.03 |
24.19 |
51.32 |
70.79 |
54.43 |
|
|
Minority Interest |
|
|
|
|
|
1.22 |
(0.05) |
1.99 |
(0.56) |
(1.82) |
|
13. |
Net Profit |
6.80 |
42.07 |
35.25 |
90.36 |
72.18 |
29.25 |
24.14 |
53.31 |
70.23 |
52.61 |
|
14. |
Paid-up Equity Share Capital (Face Value of Rs. 2 Each) |
36.95 |
36.95 |
36.95 |
36.95 |
36.95 |
36.95 |
36.95 |
36.95 |
36.95 |
36.95 |
|
15. |
Reserves and Surplus |
|
|
|
|
700.00 |
|
|
|
|
659.17 |
|
16. |
Basic Earnings Per Share (in Rs.) - Not Annualised |
0.37 |
2.28 |
1.91 |
4.89 |
3.91 |
1.58 |
1.31 |
2.89 |
3.80 |
2.85 |
|
17. |
Diluted Earnings Per Share (in Rs.) - Not Annualised |
0.37 |
2.28 |
1.91 |
4.89 |
3.91 |
1.58 |
1.31 |
2.88 |
3.80 |
2.85 |
|
18. |
Aggregate of Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares |
75,588,190 |
72,607,420 |
75,588,190 |
72,607,420 |
72,618,720 |
75,588,190 |
72,607,420 |
75,588,190 |
72,607,420 |
72,618,720 |
|
|
% of Shareholding |
40.91% |
39.29% |
40.91% |
39.29% |
39.30% |
40.91% |
39.29% |
40.91% |
39.29% |
39.30% |
|
19. |
Promoters and Promoter Group Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
|
|
|
|
|
|
|
- Number of Shares |
1,323,610 |
|
1,323,610 |
|
2,675,364 |
1,323,610 |
|
1,323,610 |
|
2,675,364 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of |
|
|
|
|
|
|
|
|
|
|
|
|
Promoter and Promoter Group) |
1.39% |
|
1.39% |
|
2.80% |
1.39% |
|
1.39% |
|
2.80% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the |
|
|
|
|
|
|
|
|
|
|
|
|
Company) |
0.72% |
|
0.72% |
|
1.45% |
0.72% |
|
0.72% |
|
1.45% |
|
|
b) Non Encumbered |
|
|
|
|
|
|
|
|
|
|
|
|
- Number of Shares |
94,108,950 |
|
94,108,950 |
|
92,726,666 |
94,108,950 |
|
94,108,950 |
|
92,726,666 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of
Promoter and Promoter Group) |
98.61% |
|
98.61% |
|
97.20% |
98.61% |
|
98.61% |
|
97.20% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
50.93% |
|
50.93% |
|
50.18% |
50.93% |
|
50.93% |
|
50.18% |
Notes :
| 1. |
The above results have been reviewed by
the Audit Committee and approved by the Board of Directors at its
meeting held on 30th October, 2009. |
| 2. |
The Statutory Auditors of the Company
have carried out a Limited Review of the above Unaudited Standalone
and Unaudited Consolidated Financial Results for the quarter and half
year ended 30th September, 2009. |
| 3. |
The Company's wholly owned subsidiary
Tubular Precision Products (Suzhou) Co. Ltd has incurred Rs.30.21 Cr.
as losses till 30th September, 2009 cumulatively. On a review of the
viability of the business, taking into account the current business
environment, the dimunition in value of the investment to the extent
of Rs.30.21 Cr. has been recognised. |
| 4. |
With reference to the observations of the
Auditors on the Consolidated Results for the quarter ended 30th June,
2009 regarding some of the open items in Bank Reconcilation Statements
of Cholamandalam DBS Finance Limited (CDFL), CDFL has since cleared
and resolved the same. |
| 5. |
There was no complaint outstanding at the
beginning of the period. During the quarter, the Company received 1
investor complaint and the same was unresolved as at 30th September,
2009. This has since been resolved. |
| 6. |
Previous period figures have been
re-grouped / re-classified, where necessary. |
Segment wise Revenue, Results and Capital Employed under Clause 41 of the Listing Agreement
|
Particulars |
Standalone |
Consolidated |
|
Quarter ended |
Half Year ended |
Year ended |
Quarter ended |
Half Year ended |
Year ended |
|
30.09.2009 |
30.09.2008 |
30.09.2009 |
30.09.2008 |
31.03.2009 |
30.09.2009 |
30.09.2008 |
30.09.2009 |
30.09.2008 |
31.03.2009 |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
|
1 |
Segment Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Cycles / Components / E-Scooters |
250.20 |
209.27 |
481.27 |
389.52 |
725.10 |
250.20 |
209.27 |
481.27 |
389.52 |
725.10 |
|
|
Engineering |
221.68 |
321.23 |
422.54 |
594.93 |
960.06 |
223.44 |
322.25 |
425.59 |
596.44 |
965.39 |
|
|
Metal Formed Products |
132.36 |
129.60 |
257.46 |
238.73 |
486.38 |
132.36 |
131.54 |
257.46 |
242.39 |
493.13 |
|
|
Insurance |
|
|
|
|
|
108.84 |
85.17 |
215.76 |
179.52 |
422.38 |
|
|
Other Financial Services |
|
|
|
|
|
67.10 |
88.93 |
142.87 |
190.65 |
354.25 |
|
|
Others |
|
|
|
|
|
0.91 |
0.58 |
1.70 |
1.08 |
3.07 |
|
|
Total |
604.24 |
660.10 |
1161.27 |
1223.18 |
2171.54 |
782.85 |
837.74 |
1524.65 |
1599.60 |
2963.32 |
|
|
Less : Inter Segment Revenue |
15.77 |
27.07 |
27.93 |
55.71 |
96.34 |
16.09 |
33.92 |
30.82 |
64.91 |
111.69 |
|
|
Total Revenue |
588.47 |
633.03 |
1133.34 |
1167.47 |
2075.20 |
766.76 |
803.82 |
1493.83 |
1534.69 |
2851.63 |
|
2 |
Segment Results (Profit / (Loss) before Interest and Tax from each
Segment except Other Financial Services) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cycles / Components / E-Scooters |
17.31 |
9.33 |
41.63 |
20.07 |
29.17 |
17.31 |
9.33 |
41.63 |
20.07 |
29.17 |
|
|
Engineering |
20.41 |
21.25 |
38.22 |
44.05 |
16.54 |
13.84 |
19.15 |
29.72 |
40.27 |
3.76 |
|
|
Metal Formed Products |
16.44 |
18.74 |
30.80 |
32.36 |
50.82 |
16.44 |
18.90 |
30.80 |
32.57 |
51.02 |
|
|
Insurance |
|
|
|
|
|
(4.70) |
0.86 |
(7.47) |
4.04 |
11.85 |
|
|
Other Financial Services (Profit / (Loss) After Interest and Before
Tax) |
|
|
|
|
|
(0.41) |
(11.78) |
0.08 |
(12.66) |
(14.81) |
|
|
Others |
|
|
|
|
|
0.13 |
0.06 |
0.30 |
0.14 |
0.73 |
|
|
Total |
54.16 |
49.32 |
110.65 |
96.48 |
96.53 |
42.61 |
36.52 |
95.06 |
84.43 |
81.72 |
|
|
Less : |
|
|
|
|
|
|
|
|
|
|
|
|
Interest |
(6.85) |
(7.24) |
(14.17) |
(13.08) |
(28.19) |
(7.04) |
(7.33) |
(14.50) |
(13.20) |
(28.46) |
|
|
Other Un-allocable Expenditure Net of Un-allocable Income |
(6.08) |
(0.54) |
(12.21) |
(17.08) |
(31.98) |
(6.08) |
(7.00) |
(12.21) |
(23.54) |
(38.44) |
|
|
Un-allocable Exceptional Items |
(30.21) |
14.82 |
(30.21) |
46.66 |
46.66 |
|
14.82 |
|
46.66 |
46.66 |
|
|
Net Profit before Tax |
11.02 |
56.36 |
54.06 |
112.98 |
83.02 |
29.49 |
37.01 |
68.35 |
94.35 |
61.48 |
|
3 |
Capital Employed (Segment Assets - Segment Liabilities) |
|
|
|
|
|
|
|
|
|
|
|
|
Cycles / Components / E-Scooters |
|
|
59.48 |
88.15 |
55.78 |
|
|
59.48 |
88.15 |
55.78 |
|
|
Engineering |
|
|
373.27 |
442.43 |
329.17 |
|
|
388.58 |
474.53 |
356.41 |
|
|
Metal Formed Products |
|
|
318.93 |
289.06 |
339.55 |
|
|
318.93 |
296.47 |
339.55 |
|
|
Insurance |
|
|
|
|
|
|
|
222.04 |
147.28 |
149.23 |
|
|
Other Financial Services |
|
|
|
|
|
|
|
222.89 |
193.85 |
219.94 |
|
|
Others |
|
|
|
|
|
|
|
2.24 |
1.70 |
2.04 |
|
|
Other Un-allocable Assets Net of Un-allocable Liabilities |
|
|
507.99 |
375.60 |
457.98 |
|
|
89.72 |
75.49 |
69.48 |
|
|
Total |
|
|
1259.67 |
1195.24 |
1182.48 |
|
|
1303.88 |
1277.47 |
1192.43 |
|
|
|
|
|
|
|
For Tube Investments of India Limited
|
| Place : Chennai |
|
L Ramkumar |
| Dated : 30th October, 2009 |
|
Managing Director
|
|
