Spentex Industries Limited |
Regd. Off : A-60, OKHLA INDUSTRIAL AREA, PHASE - II, NEW DELHI - 110020. |
| UNAUDITED STANDALONE FINANCIAL RESULTS |
FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2010 |
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( Rs. in Lacs) |
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S.No.
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PARTICULARS |
3 months ended
(31/12/2010) |
Corresponding 3 months ended in the previous year (31/12/2009) |
Year to date figures for the current period ended (31/12/2010) |
Year to date figures for the previous period ended (31/12/2009) |
Previous accounting year ended (31/03/2010) |
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(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
| 1 |
a) |
Net Sales/ Income from Operations |
29,702.90 |
19,050.19 |
76,787.10 |
54,606.18 |
76,134.34 |
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b) |
Other Operating Income |
377.89 |
244.25 |
558.37 |
727.52 |
530.11 |
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Total Income (a+b) |
30,080.79 |
19,294.44 |
77,345.47 |
55,333.70 |
76,664.45 |
| 2 |
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Expenditure |
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a) |
(Increase) / decrease in stock in trade and work in progress |
(730.86) |
252.56 |
(2,025.72) |
1,141.54 |
1,394.80 |
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b) |
Consumption of raw materials (including consumption of stores, spares and packing materials) |
18,182.64 |
11,915.61 |
47,480.08 |
34,580.62 |
48,118.44 |
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c) |
Purchase of traded goods |
2,430.74 |
1,101.06 |
5,012.50 |
2,456.18 |
3,366.33 |
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d) |
Employees cost |
1,557.33 |
1,281.10 |
4,546.56 |
3,760.34 |
4,955.80 |
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e) |
Depreciation (including amortisation) |
850.20 |
883.29 |
2,559.26 |
2,640.43 |
3,504.48 |
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f) |
Power and fuel cost |
2,014.71 |
1,831.88 |
5,742.52 |
5,143.63 |
6,802.54 |
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g) |
Other expenditure |
2,523.56 |
1,010.57 |
6,033.58 |
3,477.88 |
5,172.24 |
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Total |
26,828.32 |
18,276.07 |
69,348.78 |
53,200.62 |
73,314.63 |
| 3 |
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Profit / (Loss) from Operations before Other Income, Interest & Exceptional Items
(1-2) |
3,252.47 |
1,018.37 |
7,996.69 |
2,133.08 |
3,349.82 |
| 4 |
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Other Income |
| 103.17
103.17225.50
263.74 |
412.43 |
755.47 |
1,331.78 |
| 5 |
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Profit / (Loss) before Interest and Exceptional Items (3+4) |
| 3,355.64
3,355.641,282.11
1,282.11 |
8,409.12 |
2,888.55 |
4,681.60 |
| 6 |
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Interest |
| 2,268.02
2,268.021,842.50
1,842.50 |
6,018.71 |
5,184.03 |
6,916.04 |
| 7 |
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Profit / (Loss) after Interest but before Exceptional Items (5-6) |
| 1,087.62
1,087.62(560.39)
(560.39) |
2,390.41 |
(2,295.48) |
(2,234.44) |
| 8 |
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Exceptional Items |
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-
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- |
- |
- |
| 9 |
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Profit (+) / Loss (-) from Ordinary Activities before tax (7+8) |
1,087.62 |
(560.39) |
2,390.41 |
(2,295.48) |
(2,234.44) |
| 10 |
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Tax expense |
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(2.00) |
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0.64 |
2.11 |
| 11 |
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Net Profit (+) / Loss (-) from Ordinary Activities after tax (9-10) |
1,087.62 |
(558.39) |
2,390.41 |
2,296.12 |
(2,236.55) |
| 12 |
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Extraordinary Items (net of tax expense) |
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-
- |
- |
- |
- |
| 13 |
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Net Profit / (Loss) for the period (11-12) |
1,087.62 |
(558.39) |
2,390.41 |
2,296.12 |
(2,236.55) |
| 14 |
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Paid up Equity Share Capital (Face Value Rs. 10/-each) |
7,757.50 |
7,147.20 |
7,757.50 |
7,147.20 |
7,373.30 |
| 15 |
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Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year |
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-
- |
- |
- |
(525.78) |
| 16 |
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Earnings Per Share (EPS) (not annualized) (Rs.) |
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a) |
Basic EPS before Extraordinary items for the period and for the previous Year |
1.44 |
(0.23) |
3.16 |
(3.21) |
(3.13) |
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Diluted EPS before Extraordinary items for the period and for the previous year |
1.44 |
(0.23) |
3.16 |
(3.21) |
(3.13) |
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| b)
Basic EPS after Extraordinary items for the period and for the previous year |
1.44 |
(0.23) |
3.16 |
(3.21) |
(3.13) |
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Diluted EPS after Extraordinary items for the period and for the previous year |
1.44 |
(0.23) |
3.16 |
(3.21) |
(3.13) |
17 |
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Public Shareholding |
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Number of Shares |
39,441,475 |
39,440,473 |
39,441,475 |
39,440,473 |
39,440,473 |
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Percentage of Shareholding |
50.84% |
55.18% |
55.84% |
55.18% |
53.49% |
| 18 |
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Promoters and promoter group Shareholding |
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a) |
Pledged / Ecumbered |
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-Number of Shares |
38,133,558 |
31,816,974 |
38,133,558 |
31,816,974 |
31,816,974 |
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-Percentage of Shares (as a% of the total shareholding of promoter / promoter group) |
100.00% |
99.33% |
100.00% |
99.33% |
92.78% |
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-Percentage of Shares (as a % of the total share capital of the Company) |
49.16% |
44.52% |
49.16% |
44.52% |
43.15% |
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| b)
Non- Encumbered |
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-Number of Shares |
2 |
214,588 |
2 |
214,588 |
2,475,588 |
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-Percentage of Shares (as a% of the total shareholding of promoter / promoter group) |
0.00% |
0.67% |
0.00% |
0.67% |
7.22% |
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-Percentage of Shares (as a % of the total share capital of the Company) |
0.00% |
0.30% |
0.00% |
0.30% |
3.36% |
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| 1 |
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'The above Unaudited Standalone Financial Results for the quarter and period ended December 31, 2010 have been reviewed by the Audit Committee and were approved by the Board of Directors in their meeting held on January 27, 2011. |
| 2 |
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The Statutory Auditors have carried out a 'Limited Review' of the Unaudited Standalone Financial Results of the Company for the quarter and nine month ended December 31, 2010. |
| 3 |
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'In accordance with Accounting Standard 17 on Segment Reporting notified under section 211(3C) of the Companies Act, 1956, the Company has identified three Business Segments viz., Textile Manufacturing , Textile Trading and Other Trading. Accordingly, segment disclosure has been done. |
| 4 |
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A foreign step-down subsidiary of the Company, has registered operational losses during the earlier years due to economic slow down. This step down subsidiary had submitted a re-organization plan seeking deferment of payment to Secured creditors, and proportionate waiver of unsecured liabilities which has now been approved by the court. The Company believes that the reorganization plan, considering improvement in the global textile market, will turn around this subsidiary, so as to make good its losses in a foreseeable period of time and will also place this subsidiary in a position to repay the liabilities in due course. Accounts and other receivable amounting to Rs. 3,839.52 lacs ( Previous quarter Rs.4,726.93 lacs) is due from it. These matters have been qualified in the statutory auditor's limited review report for the quarter ended December 31, 2010 by Rs. 2,676.86 lacs (Previous quarter Rs. 3,320.77 lacs) and will be dealt appropriately in due course. |
| 5 |
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Sundry Debtors include amount of Rs. 152.84 Lacs due from a customer where payments are not forthcoming. The Company has filed a suit for recovery. Based on outcome of the legal suit coupled with further negotiations with this customer, the management is of the opinion that ultimately there would be no losses against this old balance and hence no provision is considered necessary at this stage. This matter has been qualified in the statutory auditor's limited review report for the quarter ended and nine months December 31, 2010. |
| 6 |
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'There were no investor complaints pending at the beginning of the quarter, 10 complaints were received during the quarter and properly redressed and there were no complaints pending at the end of the quarter. |
| 7 |
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'Previous period figures have been regrouped / recasted / rearranged wherever necessary, to conform to the current period's presentation. |
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| BY ORDER OF THE BOARD OF DIRECTORS, |
| For SPENTEX INDUSTRIES LIMITED, |
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| MUKUND CHOUDHARY |
| MANAGING DIRECTOR |
| Place : New Delhi |
| Date : January 27, 2011 |
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