Spentex Industries Limited
Regd. Off : A-60, OKHLA INDUSTRIAL
AREA, PHASE - II, NEW DELHI - 110020
CONSOLIDATED UNAUDITED
FINANCIAL RESULTS OF SPENTEX INDUSTRIES LIMITED
AND ITS SUBSIDIARIES
FOR THE QUARTER ENDED JUNE 30, 2008
|
|
| ( Rs. in Lacs) |
| |
|
Particulars |
3
months ended
(30/06/2008) |
Corresponding
3 months ended in the previous year
(30/06/2007) |
Previous accounting year ended
(31/03/2008) |
| |
|
|
(Unaudited) |
(Unaudited) |
(Audited) |
1 |
|
Net Sales/ Income from Operations |
35,720.19 |
26,928.20 |
135,546.80 |
2 |
|
Other Income |
1,645.01 |
1,583.07 |
7,362.27 |
3 |
|
Total Income (1+2) |
37,365.20 |
28,511.27 |
142,909.07 |
4 |
|
Expenditure |
|
|
|
|
a) |
(Increase) / decrease in stock in trade and work in progress |
72.89 |
(431.66) |
(5,964.06) |
|
b) |
Consumption of raw materials (including consumption of stores, spares and packing materials) |
23,632.43 |
16,718.63 |
87,013.46 |
|
c) |
Purchase of traded goods |
388.20 |
927.57 |
4,297.15 |
|
d) |
Employees cost |
3,875.78 |
1,989.12 |
14,019.56 |
|
e) |
Depreciation (including amortisation) |
1,964.70 |
1,716.81 |
7,455.33 |
|
f) |
Power and fuel cost |
2,910.27 |
2,646.30 |
13,033.95 |
|
g) |
Other expenditure |
4,268.51 |
2,875.80 |
17,189.85 |
|
|
Total |
37,112.78 |
26,442.57 |
137,045.24 |
5 |
|
Profit / (Loss) before Interest and Tax (3-4) |
252.42 |
2,068.70 |
5,863.83 |
6 |
|
Interest |
2,469.40 |
1,815.78 |
9,328.68 |
7 |
|
Exceptional Items |
- |
- |
- |
8 |
|
Profit / (Loss) from Ordinary Activities before tax (5)-(6+7) |
(2,216.98) |
252.92 |
(3,464.85) |
9 |
|
Tax expense |
|
|
|
10 |
|
Profit / (Loss) from Ordinary Activities after tax (8)-(9) |
(2,225.78) |
296.33 |
( 2,361.75 ) |
11 |
|
Extraodinary Items (net of tax expenses) |
- |
- |
- |
| 12 |
|
Net Profit / (Loss) after tax but before minority interest (10-11) |
(2,225.78) |
296.33 |
(2,361.75) |
| 13 |
|
Minority Interest |
(142.62) |
(26.39) |
(187.38) |
| 14 |
|
Net Profit / (Loss) for the period (12-13) |
(2,083.16) |
322.72 |
( 2,174.37) |
| 15 |
|
Paid up Equity Share Capital (Face Value Rs. 10/- each) |
7,147.20 |
7,147.20 |
7,147.20 |
| |
|
| Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year |
|
- |
- |
8,169.74 |
17 |
|
Earning Per Share (EPS) (not annualized) (Rs.) |
|
|
|
| |
a) |
Basic EPS before Extraordinary items for the period, for the year to date and for the previous year |
(2.91) |
0.45 |
(3.04) |
| |
|
Diluted EPS before Extraordinary items for the period, for the year to date and for the previous year |
(2.91) |
0.45 |
(3.04) |
| |
b) |
Basic EPS after Extraordinary items for the period, for the year to date and for the previous year| |
(2.91) |
0.45 |
(3.04) |
| |
|
Diluted EPS after Extraordinary items for the period, for the year to date and for the previous year |
(2.91) |
0.45 |
(3.04) |
18 |
|
Public Shareholding |
|
|
|
| |
|
Number of Shares |
39,569,103 |
40,569,103 |
39,569,103 |
| |
|
Percentage of Shareholding |
55.36% |
56.76% |
55.36% |
|
1 |
''The above results for the quarter ended June 30, 2008 were taken on record at the meeting of the Board of Directors held on July 31, 2008. The auditors of the Company have carried out a limited review of these unaudited results. |
|
| 2 |
'In accordance with the Accounting Standard 17 on Segment Reporting issued by The Institute of Chartered Accountants of India, the Company has identified three Business Segments viz., Textile Manufacturing , Textile Trading and Other Trading. Accordingly, segment disclosure has been done. |
|
| 3 |
Sales Tax Exemption for the Butibori unit of the Company had expired on December 31, 2005. The Company has applied for an extension of 3 years w.e.f. January 1, 2006 to the Development Commissioner (Industries), Government of Maharashtra. Further, in case the unit fails to get the exemption from authorities, an amount of Rs.1002.90 lacs (including interest) will be payable for the above period including Rs. 60.33 lacs for the quarter ended June 30, 2008, which has not been provided in the books. Pending approval of such extension, the Company has accrued VAT receivable amounting to Rs. 683.56 lacs for the period January 1, 2006 to June 30, 2008 on the basis that the sale tax exemption will be extended for a further period of 3 years w.e.f. January 1, 2006.This matter has been qualified in the auditor's review report for the quarter ended June 30, 2008. The management is hopeful of obtaining the exemption. |
|
| 4 |
'There were no investor complaints pending at the beginning of the quarter, 14 complaints were received during the quarter and properly redressed and there were no complaints pending at the end of the quarter. |
|
| 5 |
Consolidated figures for the corresponding previous quarter ended June 30, 2007 do not include results of Schoeller Litvinov, k.s. and its related entities and accordingly, are not comparable with the current period. |
|
| 6 |
The Standalone financial results of the Company for the quarter ended June 30, 2008 will be available on the Company's Website and on the Website of BSE and NSE. |
|
| 7 |
Previous period figures have been regrouped wherever necessary, to conform to the current period presentation. |
|
| |
BY ORDER OF THE BOARD OF DIRECTORS.
For SPENTEX INDUSTRIES LIMITED.
Sd/-
MUKUND CHOUDHARY
MANAGING DIRECTOR
Place : New Delhi
Date : July 31, 2008 |
|
|
