|
Unaudited Financial Results for the Quarter and Nine Months Ended 31st December,
2009
|
Particulars |
Standalone |
Consolidated |
|
Quarter ended |
Nine Months ended |
Year ended |
Quarter ended |
Nine Months ended |
Year ended |
|
31.12.2009 |
31.12.2008 |
31.12.2009 |
31.12.2008 |
31.03.2009 |
31.12.2009 |
31.12.2008 |
31.12.2009 |
31.12.2008 |
31.03.2009 |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
|
1. (a) |
Net Sales / Income from Operations |
583.94 |
429.28 |
1712.77 |
1591.71 |
2061.09 |
774.73 |
610.63 |
2268.82 |
2135.37 |
2804.92 |
|
(b) |
Other Operating Income |
3.92 |
4.86 |
8.44 |
9.90 |
14.11 |
17.81 |
20.14 |
62.07 |
46.45 |
46.71 |
|
2. |
Total Revenue |
587.86 |
434.14 |
1721.21 |
1601.61 |
2075.20 |
792.54 |
630.77 |
2330.89 |
2181.82 |
2851.63 |
|
3. |
Expenditure |
|
|
|
|
|
|
|
|
|
|
|
|
a) (Increase) / Decrease in Stock in Trade and Work In Process |
(8.71) |
17.59 |
(2.90) |
(31.42) |
(21.17) |
(8.71) |
17.55 |
(2.90) |
(31.42) |
(22.87) |
|
|
b) Consumption of Raw Materials (Net) |
336.67 |
262.30 |
993.03 |
1046.03 |
1337.82 |
341.26 |
264.34 |
997.62 |
1049.18 |
1351.52 |
|
|
c) Purchase of Traded Goods |
23.66 |
15.37 |
49.56 |
31.37 |
42.26 |
23.66 |
15.37 |
49.56 |
31.37 |
42.26 |
|
|
d) Employee Cost |
45.06 |
38.85 |
135.63 |
119.72 |
155.19 |
65.83 |
62.23 |
203.64 |
190.40 |
239.38 |
|
|
e) Depreciation |
17.13 |
13.87 |
48.52 |
42.99 |
59.12 |
21.40 |
19.33 |
62.57 |
57.07 |
79.69 |
|
|
f) Other Expenditure |
126.42 |
99.41 |
352.25 |
337.72 |
452.51 |
270.09 |
235.70 |
777.59 |
728.39 |
945.82 |
|
|
g) Total |
540.23 |
447.39 |
1576.09 |
1546.41 |
2025.73 |
713.53 |
614.52 |
2088.08 |
2024.99 |
2635.80 |
|
4. |
Profit / (Loss) From Operations before Other Income, Interest and
Exceptional Items { 2 - 3 } |
47.63 |
(13.25) |
145.12 |
55.20 |
49.47 |
79.01 |
16.25 |
242.81 |
156.83 |
215.83 |
|
5. |
Other Income |
0.21 |
2.65 |
1.16 |
13.60 |
15.08 |
2.96 |
2.10 |
4.11 |
13.16 |
16.29 |
|
6. |
Profit / (Loss) Before Interest and Exceptional Items { 4 + 5 } |
47.84 |
(10.60) |
146.28 |
68.80 |
64.55 |
81.97 |
18.35 |
246.92 |
169.99 |
232.12 |
|
7. |
Interest |
7.08 |
9.23 |
21.25 |
22.31 |
28.19 |
46.70 |
59.16 |
140.81 |
163.11 |
212.31 |
|
8. |
Profit / (Loss) After Interest but before Exceptional Items { 6 -
7} |
40.76 |
(19.83) |
125.03 |
46.49 |
36.36 |
35.27 |
(40.81) |
106.11 |
6.88 |
19.81 |
|
9. |
Exceptional Items |
|
|
|
|
|
|
|
|
|
|
|
|
a) Profit on Sale of Long Term Investments |
|
|
|
46.66 |
46.66 |
|
|
|
46.66 |
46.66 |
|
|
b) Provision for Diminution in value of Investments and Financial
Assistance |
(9.44) |
|
(39.65) |
|
|
|
|
|
|
|
|
|
c) Others (Share in Joint Venture) |
|
|
|
|
|
(0.39) |
|
(2.88) |
|
(4.99) |
|
10. |
Profit / (Loss) Before Tax from Ordinary Activities { 8 + 9} |
31.32 |
(19.83) |
85.38 |
93.15 |
83.02 |
34.88 |
(40.81) |
103.23 |
53.54 |
61.48 |
|
11. |
Tax Expense |
13.45 |
(6.08) |
32.26 |
16.54 |
10.84 |
14.12 |
(7.98) |
31.15 |
15.58 |
7.05 |
|
12. |
Profit / (Loss) After Tax { 10 - 11 } |
17.87 |
(13.75) |
53.12 |
76.61 |
72.18 |
20.76 |
(32.83) |
72.08 |
37.96 |
54.43 |
|
|
Minority Interest |
|
|
|
|
|
1.40 |
(0.11) |
3.39 |
(0.67) |
(1.82) |
|
13. |
Net Profit / (Loss) |
17.87 |
(13.75) |
53.12 |
76.61 |
72.18 |
22.16 |
(32.94) |
75.47 |
37.29 |
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 |
0.97 |
(0.74) |
2.87 |
4.15 |
3.91 |
1.20 |
(1.78) |
4.08 |
2.02 |
2.85 |
|
17. |
Diluted Earnings Per Share (in Rs.) - Not Annualised |
0.97 |
(0.74) |
2.87 |
4.15 |
3.91 |
1.20 |
(1.78) |
4.08 |
2.02 |
2.85 |
|
18. |
Aggregate of Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares |
78,767,280 |
72,607,420 |
78,767,280 |
72,607,420 |
72,618,720 |
78,767,280 |
72,607,420 |
78,767,280 |
72,607,420 |
72,618,720 |
|
|
% of Shareholding |
42.63% |
39.29% |
42.63% |
39.29% |
39.30% |
42.63% |
39.29% |
42.63% |
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 |
94,125,150 |
|
94,125,150 |
|
92,726,666 |
94,125,150 |
|
94,125,150 |
|
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) |
50.94% |
|
50.94% |
|
50.18% |
50.94% |
|
50.94% |
|
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 January, 2010. |
| 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 nine months ended 31st December, 2009. |
| 3. |
In December 2009, the process of liquidating Tubular Precision Products
(Suzhou) Co. Ltd. (TPP), the Company’s wholly owned tube manufacturing subsidiary in China, has commenced. During the quarter, a further sum of Rs 9.44 Cr (aggregate Rs 39.65 Cr) has been provided towards the diminution in the value of its investment and other financial assistance. |
| 4. |
During the quarter, the Company has established a wholly owned subsidiary, TICI Motors
(Wuxi) Company Ltd. in China to support the Cycles / Components and E-Scooters segment. |
| 5. |
There was 1 complaint outstanding at the beginning of the period and the same was resolved during the quarter. During the quarter, the Company received 2 investor complaints and the same were resolved. There was no complaint pending at the end of the quarter. |
| 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
|
Nine Months ended
|
Year ended |
Quarter ended
|
Nine Months ended
|
Year ended |
|
31.12.2009 |
31.12.2008 |
31.12.2009 |
31.12.2008 |
31.03.2009 |
31.12.2009 |
31.12.2008 |
31.12.2009 |
31.12.2008 |
31.03.2009 |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
|
1 |
Segment Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Cycles / Components / E-Scooters |
226.10 |
135.38 |
707.37 |
524.90 |
725.10 |
226.10 |
135.38 |
707.37 |
524.90 |
725.10 |
|
|
Engineering |
231.36 |
200.56 |
653.91 |
795.49 |
960.06 |
231.71 |
203.75 |
657.30 |
800.19 |
965.39 |
|
|
Metal Formed Products |
148.83 |
119.66 |
406.29 |
358.39 |
486.38 |
148.83 |
122.75 |
406.29 |
365.14 |
493.13 |
|
|
Insurance |
|
|
|
|
|
127.47 |
108.43 |
387.75 |
304.31 |
422.38 |
|
|
Other Financial Services |
|
|
|
|
|
77.10 |
81.93 |
219.97 |
272.58 |
354.25 |
|
|
Others |
|
|
|
|
|
0.99 |
0.72 |
2.69 |
1.80 |
3.07 |
|
|
Total |
606.29 |
455.60 |
1767.57 |
1678.78 |
2171.54 |
812.20 |
652.96 |
2381.37 |
2268.92 |
2963.32 |
|
|
Less : Inter Segment Revenue |
18.43 |
21.46 |
46.36 |
77.17 |
96.34 |
19.66 |
22.19 |
50.48 |
87.10 |
111.69 |
|
|
Total Revenue |
587.86 |
434.14 |
1721.21 |
1601.61 |
2075.20 |
792.54 |
630.77 |
2330.89 |
2181.82 |
2851.63 |
|
2 |
Segment Results (Profit / (Loss) before Interest and Tax from each
Segment except Other Financial Services) |
|
|
|
|
|
|
|
|
|
|
|
|
Cycles / Components / E-Scooters |
13.28 |
2.18 |
54.91 |
22.25 |
29.17 |
13.28 |
2.18 |
54.91 |
22.25 |
29.17 |
|
|
Engineering |
19.99 |
(14.05) |
58.21 |
30.00 |
16.54 |
16.92 |
(17.77) |
46.64 |
22.50 |
3.76 |
|
|
Metal Formed Products |
22.30 |
8.26 |
53.10 |
40.62 |
50.82 |
22.30 |
8.24 |
53.10 |
40.81 |
51.02 |
|
|
Insurance |
|
|
|
|
|
(5.56) |
0.90 |
(13.03) |
4.94 |
11.85 |
|
|
Other Financial Services (Profit / (Loss) After Interest and Before
Tax) |
|
|
|
|
|
2.72 |
(17.47) |
2.80 |
(30.13) |
(14.81) |
|
|
Others |
|
|
|
|
|
0.23 |
0.12 |
0.53 |
0.26 |
0.73 |
|
|
Total |
55.57 |
(3.61) |
166.22 |
92.87 |
96.53 |
49.89 |
(23.80) |
144.95 |
60.63 |
81.72 |
|
|
Interest |
(7.08) |
(9.23) |
(21.25) |
(22.31) |
(28.19) |
(7.28) |
(9.35) |
(21.78) |
(22.55) |
(28.46) |
|
|
Other Un-allocable Expenditure Net of Un-allocable Income |
(7.73) |
(6.99) |
(19.94) |
(24.07) |
(31.98) |
(7.73) |
(7.66) |
(19.94) |
(31.20) |
(38.44) |
|
|
Un-allocable Exceptional Items |
(9.44) |
|
(39.65) |
46.66 |
46.66 |
|
|
|
46.66 |
46.66 |
|
|
Net Profit before Tax |
31.32 |
(19.83) |
85.38 |
93.15 |
83.02 |
34.88 |
(40.81) |
103.23 |
53.54 |
61.48 |
|
3 |
Capital Employed (Segment Assets - Segment Liabilities) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cycles / Components / E-Scooters |
|
|
79.46 |
92.61 |
55.78 |
|
|
79.46 |
92.61 |
55.78 |
|
|
Engineering |
|
|
369.38 |
418.73 |
329.17 |
|
|
377.62 |
448.49 |
356.41 |
|
|
Metal Formed Products |
|
|
328.02 |
306.89 |
339.55 |
|
|
328.02 |
312.97 |
339.55 |
|
|
Insurance |
|
|
|
|
|
|
|
219.25 |
144.30 |
149.23 |
|
|
Other Financial Services |
|
|
|
|
|
|
|
224.83 |
178.15 |
219.94 |
|
|
Others |
|
|
|
|
|
|
|
2.40 |
1.78 |
2.04 |
|
|
Other Un-allocable Assets Net of Un-allocable Liabilities |
|
|
558.45 |
370.90 |
457.98 |
|
|
109.97 |
70.79 |
69.48 |
|
|
Total |
|
|
1335.31 |
1189.13 |
1182.48 |
|
|
1341.55 |
1249.09 |
1192.43 |
|
|
|
|
|
|
|
For Tube Investments of India Limited
|
| Place : Chennai |
|
L Ramkumar |
| Dated : 30th January, 2010 |
|
Managing Director
|
|
