| |
NICCO CORPORATION LIMITED
Regd.Off : NICCO HOUSE, 2 Hare Street,Kolkata - 700001
AUDITED
FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST MARCH 2013 |
|
| (Rs. in Lacs) |
| |
1
|
2
|
3
|
4
|
5
|
| Sl.No. |
Particulars
|
Quarter |
Year |
|
ended
30.03.13
(Audited)
|
ended
31.12.12
(Audited)
|
ended
31.03.12
(Audited)
|
ended
31.03.13
(Audited)
|
ended
31.03.12
(Audited)
|
| 1. |
Income from operations |
|
|
|
|
|
| a. |
Net Sales / Income from Operations (Net
of Excise duty) |
7,563
|
6,936
|
6,905
|
24,318
|
28,195
|
| b. |
Other operating income
|
152
|
173
|
244
|
726
|
696
|
| |
Total Income from operations (net)
|
7,715
|
7,109
|
7,149
|
25,044
|
28,891
|
| 2. |
Expenditure
|
| (a) |
Cost of Materials consumed |
2,768
|
3,278
|
2,854
|
12,748
|
13,911
|
| (b) |
Purchase of stock-in-trade |
999
|
421
|
316
|
2,321
|
3,738
|
| (c) |
Changes of inventories of finished goods,work-in-progress
and stock-in-trade |
586
|
490
|
567
|
335
|
633
|
| (d) |
Employee benefit expense |
820
|
827
|
738
|
3,130
|
2,936
|
| (e) |
Depreciation and amortisation expense |
159
|
161
|
163
|
640
|
660
|
| (f) |
Other Expenditure |
1,357
|
779
|
2,113
|
4,075
|
4,387
|
| (g) |
Total |
6,689
|
5,956
|
6,751
|
23,249
|
26,265
|
| 3. |
Profit/(loss) from operations before other
income,finance costs and Exceptional Items (1-2) |
1,026 |
1,153 |
398 |
1,795 |
2,626 |
| 4. |
Other Income |
41 |
22 |
74 |
131 |
184 |
| 5. |
Profit/(loss) from ordinary activities before
finance costs and Exceptional Items (3+4) |
1,067 |
1,175 |
472 |
1,926 |
2,810 |
| 6. |
Finance Costs |
1,005 |
1,119 |
1,016 |
4,115 |
3,685 |
| 7. |
Profit/(loss) from ordinary activities after
finance costs but before exceptional Items (5+6) |
62
|
56
|
(544)
|
(2,189)
|
(875)
|
| 8. |
Exceptional items |
|
|
|
|
|
| 9. |
Profit / Loss from ordinary activities before
Tax (7+8) |
62
|
56
|
(544)
|
(2,189)
|
(875)
|
| 10. |
Tax Expense
|
| |
Deferred Tax
|
|
|
(861)
|
-
|
(714)
|
| |
Income Tax |
-
|
-
|
-
|
-
|
-
|
| 11. |
Net Profit / Loss from ordinary activities
after Tax ( 9 - 10) |
62
|
56
|
317
|
(2,189)
|
(161)
|
| 12. |
Extra ordinary items (net of tax expenses)
|
314
|
|
1,058
|
314
|
1,007
|
| 13. |
Net Profit / Loss for the period (11 - 12)
|
(252)
|
56
|
(741)
|
(2,503)
|
(1,168)
|
| 14. |
Paid up Equity Share Capital (Face Value
of Rs.2/- each) |
2,298
|
2,298
|
2,238
|
2,298
|
2,238
|
| 15. |
Reserves excluding Revaluation Reserve
|
|
|
|
(14,125)
|
(11,722)
|
| 16.i |
Earning per Share (in Rs)
|
|
|
|
|
|
| |
Before Extra Ordinary Items |
|
|
|
|
|
| |
Basic |
(0.24)
|
(1.11)
|
(0.69)
|
(2.27)
|
(1.14)
|
| |
Diluted |
(0.24)
|
(1.11)
|
(0.69)
|
(2.27)
|
(1.14)
|
| 16 ii |
After Extra Ordinary Items
|
|
|
|
|
|
| |
Basic
|
0.03
|
(1.11)
|
(1.61)
|
(2.00)
|
(0.24)
|
| |
Diluted
|
0.03
|
(1.11)
|
(1.61)
|
(2.00)
|
(0.24)
|
| A.. |
PARTICULARS OF SHAREHOLDING
|
|
|
|
|
|
| 1. |
Public Shareholding |
|
|
|
|
|
| |
- No of Shares
|
86,309,139
|
86,309,139
|
86,309,136
|
86,309,139
|
86,309,136
|
| |
- Percentage of Shareholding
|
75.13%
|
75.13%
|
77.14%
|
75.13%
|
77.14%
|
| 18. |
Promoters and Promoter group Shareholding |
|
|
|
|
|
| a). |
Pledged/Encumbered |
|
|
|
|
|
| |
- Number of Shares |
|
|
|
9,765,725
|
9,765,725
|
| |
- Percentage of Shares ( as a % of the total
shareholding of promoter and promoter group) |
|
|
|
34.18%
|
38.17%
|
| |
- Percentage of Shares ( as a % of the total
share Capital of the company) |
|
|
|
8.50%
|
8.73%
|
| b). |
Non - encumbered |
|
|
|
|
|
| |
- Number of Shares |
|
|
|
18,802,618
|
15,817,547
|
| |
- Percentage of Shares ( as a % of the total
shareholding of promoter and promoter group) |
|
|
|
65.82%
|
61.83%
|
| |
- Percentage of Shares ( as
a % of the total share Capital of the company) |
|
|
|
16.37%
|
14.14%
|
| B |
INVESTOR COMPLAINTS |
|
|
|
|
|
| |
Pending at the beginning of the quarter
|
|
|
|
Nil
|
|
| |
Received during the quarter |
|
|
|
2
|
|
| |
Disposed of during the quarter |
|
|
|
2
|
|
| |
Remaining unresolved at the end of the quarter
|
|
|
|
Nil
|
|
| |
| Notes : |
|
1.
2.
3.
4.
5.
6.
a.
b.
c.
d.
|
The
above audited financial results, after being reviewed
by audit committee, were approved by the Board of Directors
during meeting dated 09th May,2013.
The Board of Directors and subsequently shareholders have
approved an agreement for a Joint venture between the
Company and Oriental Manufactures Pvt. Ltd.(OMPL) for
formation of a jointly controlled entity for the purpose
of assigning future business and some running projects
of Project Division therein.OMPL through amalgamation
with M/S Sarabhai Machinery Pvt. Ltd. vide order of Gujrat
High Court changed it's name to M/S Oriental Enterprise
Pvt. Ltd (OEPL). The Company's proposal in this regard
has been taken up before AAIFR for approval.
BIFR had directed Allahabad Bank, the Operating
Agenct to submit a rehabilitation package,which is being
worked out in consultation with Ernst & Young Pvt. Ltd.
Issue of equity shares against proceeds of application
money from NRETF amounting to Rs.301 Lacs is pending approval
from appropriate authorities. As such dilution of EPS
on this account could not be considered.
In line with approved CDR package and with the BIFR's
approval, the company has disposed of it's stake in equity
and preference shares in lone subsidiary, Nicco Biotech
Limited, valuing Rs.1270 lacs in aggregate at Rs.1194.22
lacs which resulted in capital loss of Rs.75.78 Lacs in
respect of current quarter.
Audit observations:
15,67,600, 5% cumulative redeemable preference
shares of Rs.100/- each are overdue for redemption. Renewal/restructuring
of the same, shall be addressed in the scheme.
Retention of brought forward balance since 01.04.2011
against deferred tax asset (net) is ascribed to management
action plan confirming adequacy of future profit. However
subsequent addition/accretion thereon has been done away
with as a measure of abundant prudence.
March quarterly result represent balancing of figures
published for 9 months period ended on 31.12.2012 vis-à-vis
annual financial results.
Previous
year/period figures have been regrouped and rearranged
whereever necessary in terms of current period grouping.
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FOR NICCO CORPORATION LIMITED
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N DAS
DIRECTOR & CHAIRMAN - AUDIT COMMITTEE |
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UDAYAN RAY
MANAGING DIRECTOR & CFO |
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For G. BASU & Co.
CHARTERED ACCOUNTANTS |
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INDRANIL MITRA
GENERAL MANAGER & CO. SECRETARY |
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RAJIVE KAUL
CHAIRMAN
|
S. LAHIRI
PARTNER
Basu House,
3, Chowringhee Approach
KOLKATA - 700 072 |
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PLACE :KOLKATA
DATE : THE 10 TH DAY OF MAY,2013 |
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