Spentex Industries Limited
Regd. Off : A-60, OKHLA INDUSTRIAL AREA, PHASE - II, NEW DELHI - 110020.
 
UNAUDITED STANDALONE FINANCIAL RESULTS
FOR THE QUARTER ENDED JUNE 30, 2011
              ( Rs. in Lacs)
S.No.


  PARTICULARS 3 months ended
(30/06/2011)
Corresponding 3 months ended in the previous year (30/06/2010) Previous accounting year ended (31/03/2011)
      (Unaudited) (Unaudited) (Audited)
1 a) Net Sales/ Income from Operations 21,790.14 23,238.22 106,029.54
  b) Other Operating Income 343.40 9.93 1,125.04
    Total Income (a+b) 22,133.54 23,248.15 107,154.58
2   Expenditure      
  a) (Increase) / decrease in stock in trade and work in progress (1,779.74) (702.19) (6,626.02)
  b) Consumption of raw materials (including consumption of stores, spares and packing materials) 16,999.17 14,908.82 69,066.45
  c) Purchase of traded goods 2,422.66 1,040.33 7,573.82
  d) Employees cost 1,578.65 1,455.46 6,035.04
  e) Depreciation (including amortisation) 843.33 850.83 3,407.83
  f) Power and fuel cost 1,832.64 1,764.74 7,719.60
  g) Other expenditure 1,361.31 1,719.79 8,942.52
  h) Total 23,258.02 21,037.78 96,119.24
3   Profit / (Loss) from Operations before Other Income, Interest & Exceptional Items (1-2) (1,124.48) 2,210.37 11,035.34
4   Other Income 142.60 147.81 719.43
5   Profit / (Loss) before Interest and Exceptional Items (3+4) (981.88) 2,358.18 11,754.77
6   Interest 2,253.89 1,927.50 8,005.25
7   Profit / (Loss) after Interest but before Exceptional Items (5-6) (3,235.77) 430.68 3,749.52
8   Exceptional Items   - - -
9   Profit (+) / Loss (-) from Ordinary Activities before tax (7+8) (3,235.77) 430.68 3,749.52
10   Tax expense - - -
11   Net Profit (+) / Loss (-) from Ordinary Activities after tax (9-10) (3,235.77) 430.68 3,749.52
12   Extraordinary Items (net of tax expense)   - - -
13   Net Profit / (Loss) for the period (11-12) (3,235.77) 430.68 3,749.52
14   Paid up Equity Share Capital (Face Value Rs. 10/-each) 8,327.20 7,373.30 8,132.20
15   Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year   - - 2,273.49
16   Earning Per Share (EPS) (not annualized) (Rs.)
    
  a)



Basic EPS before Extraordinary items for the period and for the perivious year (3.96) 0.58 4.87
    Diluted EPS before Extraordinary items for the period and for the previous year (3.96) 0.564.85
  b)



Basic EPS after Extraordinary items for the period and for the perivious year (3.96) 0.58 4.87
    Diluted EPS after Extraordinary items for the period and for the previous year
(3.96) 0.56 4.85
17   Public Shareholding      
    Number of Shares 39,441,475 39,441,475 39,441,475
      Percentage of Shareholding 47.36% 53.49% 48.50%
18    Promoters and promoter group Shareholding      
  a) Pledged / Encumbered      
    -Number of Shares 38,133,558 34,291,558 38,133,558
    -Percentage of Shares (as a% of the total shareholding of promoter / promoter group) 87.00% 100.00% 91.05%
    -Percentage of Shares (as a % of the total share capital of the Company) 45.80% 46.51% 46.89%
  b) Non- Encumbered      
    -Number of Shares 5,697,002 2 3,747,002
    -Percentage of Shares (as a% of the total shareholding of promoter / promoter group) 13.00% 0.00% 8.95%
    -Percentage of Shares (as a % of the total share capital of the Company) 6.84% 0.00% 4.61%
 

 

1  
'The above audited Standalone Financial Results have been reviewed by the Audit Committee and were approved by the Board of Directors in their meeting held on August 11, 2011.
2  
'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, and Textile Trading. Accordingly, segment disclosure has been done.
3  
A foreign step-down subsidiary of the Company, had registered operational losses during the earlier year due to 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 Rs. 3,328.16 lacs (previous quarter Rs. 3,279.65 lacs) is due from it. This have been qualified in the statutory auditor's limited review report for the quarter ended June 30, 2011 by Rs. 2,137.78 lacs (previous quarter Rs. 2,103.41 lacs) and will be dealt with appropriately in due course.
4  

Durring the Quarter the Company has allotted 19,50,000 Equity Share in pursuant to option exercised by the investor to convert as equal number of Share Warrants in final trench at the agreed rate of Rs. 16.95 (including permium of Rs. 695).

5   'There were no investor complaints pending at the beginning of the quarter, 6 complaints were received during the quarter and properly redressed  and there were no complaints pending at the end of the quarter.
6  
'Previous period figures have been regrouped / recasted / rearranged wherever necessary, to conform to the current period's presentation.
   
BY ORDER OF THE BOARD OF DIRECTORS,
For SPENTEX INDUSTRIES LIMITED,
Sd/-
MUKUND CHOUDHARY
MANAGING DIRECTOR
Place :  New Delhi
Date :  August 11, 2011

 

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