| |
NICCO CORPORATION LIMITED
Regd.Off : NICCO HOUSE, 2 Hare Street,Kolkata - 700001
AUDITED
FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST DECEMBER 2012 |
|
| (Rs. in Lacs) |
| |
|
1
|
2
|
3
|
4
|
5
|
6
|
| Sl.No. |
Particulars
|
Quarter |
Nine Months |
Year |
ended
30.12.12
(Audited)
|
ended
30.09.12
(Audited)
|
ended
30.12.11
(Audited)
|
ended
31.12.12
(Audited)
|
ended
31.12.11
(Audited)
|
ended
31.03.12
(Audited)
|
| 1. |
Income from operations |
|
|
|
|
|
|
| a. |
Net Sales / Income from Operations (Net
of Excise duty) |
6,936 |
4,734
|
5,099
|
16,755
|
21,290
|
28,195
|
| b. |
Other operating income |
173
|
262
|
452
|
574
|
452
|
696
|
| |
Total Income from operations (net) |
7,109
|
4,996
|
5,551
|
17,329
|
21,742
|
28,891
|
| 2. |
Expenditure
|
| (a) |
Cost of Materials consumed |
3,278 |
3,240
|
3,350
|
9,980
|
10,708
|
16,541
|
| (b) |
Purchase of stock-in-trade |
421 |
354
|
310
|
1,322
|
2,928
|
1,108
|
| (c) |
Changes of inventories of finished goods,work-in-progress
and stock-in-trade |
490 |
(272)
|
(5)
|
(251)
|
66
|
633
|
| (d) |
Employee benefit expense |
827 |
744
|
727
|
2,310
|
2,198
|
2,936
|
| (e) |
Depreciation and amortisation expense |
161 |
161
|
163
|
481
|
497
|
660
|
| (f) |
Other Expenditure |
779 |
1,002
|
706
|
2,718
|
3,117
|
4,387
|
| (g) |
Total |
5,956 |
5,229
|
5,251
|
16,560
|
19,514
|
26,265
|
| 3. |
Profit/(loss) from operations before other
income,finance costs and Exceptional Items (1-2) |
1,153 |
(233) |
300 |
769 |
2,228 |
2,626 |
| 4. |
Other Income |
22 |
41 |
24 |
90 |
110 |
184 |
| 5. |
Profit/(loss) from ordinary activities before
finance costs and Exceptional Items (3+4) |
1,175 |
(192) |
324 |
859 |
2,338 |
2,810 |
| 6. |
Finance Costs |
1,119 |
1,062 |
913 |
3,110 |
2,669 |
3,685 |
| 7. |
Profit/(loss) from ordinary activities after
finance costs but before exceptional Items (5+6) |
56 |
(1,254)
|
(589)
|
(2,251)
|
(331)
|
(875)
|
| 8. |
Exceptional items |
|
|
|
|
|
|
| 9. |
Profit / Loss from ordinary activities before
Tax (7+8) |
56 |
(1,254)
|
(589)
|
(2,251)
|
(331)
|
(875)
|
| 10. |
Tax Expense
|
| |
Deferred Tax
|
- |
|
|
-
|
147
|
(714)
|
| |
Income Tax |
- |
-
|
-
|
-
|
-
|
-
|
| 11. |
Net Profit / Loss from ordinary activities
after Tax ( 9 - 10) |
56 |
(1,254)
|
(589)
|
(2,251)
|
(478)
|
(161)
|
| 12. |
Extra ordinary items (net of tax expenses)
|
- |
|
|
-
|
(51)
|
1,007
|
| 13. |
Net Profit / Loss for the period (11 - 12)
|
56 |
(1,254)
|
(589)
|
(2,251)
|
(427)
|
(1,168)
|
| 14. |
Paid up Equity Share Capital (Face Value
of Rs.2/- each) |
2,298 |
2,298
|
2,238
|
2,298
|
2,238
|
2,238
|
| 15. |
Reserves excluding Revaluation Reserve
|
|
|
|
|
|
(11,722)
|
| 16.i |
Earning per Share (in Rs)
|
|
|
|
|
|
|
| |
Before Extra Ordinary Items |
|
|
|
|
|
|
| |
Basic |
0.02 |
(1.11)
|
(0.55)
|
(2.04)
|
(0.46)
|
(1.14)
|
| |
Diluted |
0.02 |
(1.11)
|
(0.55)
|
(2.04)
|
(0.46)
|
(1.14)
|
| 16 ii |
After Extra Ordinary Items
|
|
|
|
|
|
|
| |
Basic |
0.02
|
(1.11)
|
(0.55)
|
(2.04)
|
(0.46)
|
(0.24)
|
| |
Diluted |
0.02
|
(1.11)
|
(0.55)
|
(2.04)
|
(0.46)
|
(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
|
86,309,139
|
| |
- Percentage of Shareholding |
75.13%
|
75.13%
|
77.14%
|
75.13%
|
77.14%
|
77.14%
|
| 18. |
Promoters and Promoter group Shareholding |
|
|
|
|
|
|
| a). |
Pledged/Encumbered |
|
|
|
|
|
|
| |
- Number of Shares |
|
|
|
9,765,725
|
9,765,725
|
9,765,725
|
| |
- Percentage of Shares ( as a % of the total
shareholding of promoter and promoter group) |
|
|
|
34.18%
|
38.17%
|
38.17%
|
| |
- Percentage of Shares ( as a % of the total
share Capital of the company) |
|
|
|
8.50%
|
8.73%
|
8.73%
|
| b). |
Non - encumbered |
|
|
|
|
|
|
| |
- Number of Shares |
|
|
|
18,802,618
|
15,817,544
|
15,817,544
|
| |
- Percentage of Shares ( as a % of the total
shareholding of promoter and promoter group) |
|
|
|
65.82%
|
61.83%
|
61.83%
|
| |
- Percentage of Shares ( as
a % of the total share Capital of the company) |
|
|
|
16.37%
|
14.14%
|
14.14%
|
| B |
INVESTOR COMPLAINTS |
|
|
|
|
|
|
| |
Pending at the beginning of the quarter
|
|
|
|
Nil
|
|
|
| |
Received during the quarter |
|
|
|
3
|
|
|
| |
Disposed of during the quarter |
|
|
|
3
|
|
|
| |
Remaining unresolved at the end of the quarter
|
|
|
|
Nil
|
|
|
| |
| Notes : |
|
1.
2.
3.
4.
5.
a.
b.
c.
6.
|
The
above audited financial results, after being reviewed
by audit committee, were approved by the Board of Directors
during meeting dated 05th February,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
project division therein.OMPL or it's subsidiary is to
hold majority stake in said newly formed company, the
company to be minority stakeholder therein.A definitive
agreement has been signed with OMPL to that effect.The
Company's proposal in this regard has been taken up before
AAIFR for approval.
BIFR had directed the company 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.220 Lacs is pending approval
from appropriate authorities. As such dilution of EPS
on this account could not be considered.
Audit observations:
9,52,300, 5% cumulative redeemable preference shares
of Rs.100/- each are overdue for redemption. Renewal of
the same, in terms of company's offer to the effect,is
pending decision of shareholders for acceptance and ultimate
order of BIFR.
In line with approved CDR package, the company has entered
into an agreement with a party to dispose of it's stake
in equity and preference shares in lone subsidiary, Nicco
Biotech Limited, valuing Rs.1270 lacs in aggregate at
Rs.1194 lacs for which approval of BIFR has already been
obtained.The capital loss will be provided for in the
ensuing quarter.
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.
Previous
year/period figures have been regrouped and rearranged
whereever necessary in terms of current period grouping.
|
| |
| |
|
|
|
| |
|
FOR NICCO CORPORATION LIMITED
|
|
N DAS
DIRECTOR & CHAIRMAN - AUDIT COMMITTEE |
|
|
|
|
|
|
|
|
UDAYAN RAY
MANAGING DIRECTOR & CFO |
|
|
|
|
For G. BASU & Co.
CHARTERED ACCOUNTANTS |
|
|
INDRANIL MITRA
GENERAL MANAGER & CO. SECRETARY |
|
|
|
|
|
RAJIVE KAUL
CHAIRMAN
|
S. LAHIRI
PARTNER
Basu House,
3, Chowringhee Approach
KOLKATA - 700 072 |
| |
|
|
|
PLACE :KOLKATA
DATE : THE 05 TH DAY OF FEBRUARY,2013 |
|
|
|
|
|
|
|
