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NICCO CORPORATION LIMITED
Regd.Off : NICCO HOUSE, 2 Hare Street,Kolkata - 700001
AUDITED
FINANCIAL RESULTS
FOR THE QUARTER ENDED 30TH JUNE 2012 |
|
| (Rs. in Lacs) |
| |
|
1
|
2
|
3
|
4
|
| Sl.No. |
Particulars
|
Quarter |
Year |
ended
30.06.12
(Audited)
|
ended
31.03.12
(Audited)
|
ended
31.03.12
(Audited)
|
ended
31.03.11
(Audited)
|
| 1. |
Income from operations |
|
|
|
|
| a. |
Net Sales / Income from Operations (Net
of Excise duty) |
5,085 |
6,905
|
7,415
|
28,195
|
| b. |
Other operating income |
139
|
244
|
76
|
696
|
| |
Total Income from operations (net) |
5,224
|
7,149
|
7,491
|
28,891
|
| 2. |
Expenditure
|
| (a) |
Cost of Materials consumed |
3,462
|
3,790
|
3,919
|
16,541
|
| (b) |
Purchase of stock-in-trade |
547 |
224
|
564
|
1,108
|
| (c) |
Changes of inventories of finished goods,work-in-progress
and stock-in-trade |
(469) |
567
|
27
|
633
|
| (d) |
Employee benefit expense |
739 |
738
|
717
|
2,936
|
| (e) |
Depreciation and amortisation expense |
159 |
163
|
168
|
660
|
| (f) |
Other Expenditure |
937 |
1,269
|
1,161
|
4,387
|
| (g) |
Total |
5,375 |
6,751
|
6,556
|
26,265
|
| 3. |
Profit/(loss) from operations before other
income,finance costs and Exceptional Items (1-2) |
(151) |
398 |
935 |
2,626 |
| 4. |
Other Income |
27 |
74 |
89 |
184 |
| 5. |
Profit/(loss) from ordinary activities before
finance costs and Exceptional Items (3+4) |
(124) |
472 |
1,024 |
2,810 |
| 6. |
Finance Costs |
929 |
1,016 |
853 |
3,685 |
| 7. |
Profit/(loss) from ordinary activities after
finance costs but before exceptional Items (5+6) |
(1,053) |
(544)
|
171
|
(875)
|
| 8. |
Exceptional items |
|
|
|
|
| 9. |
Profit / Loss from ordinary activities before
Tax (7+8) |
(1,053) |
(544)
|
171
|
(875)
|
| 10. |
Tax Expense
|
| |
Deferred Tax
|
- |
(861)
|
59
|
(714)
|
| |
Income Tax |
- |
-
|
-
|
-
|
| 11. |
Net Profit / Loss from ordinary activities
after Tax ( 9 - 10) |
(1,053) |
317
|
112
|
(161)
|
| 12. |
Extra ordinary items (net of tax expenses
Rs. Lacs) |
- |
1,058
|
|
1,007
|
| 13. |
Net Profit / Loss for the period (11 - 12)
|
(1,053) |
(741)
|
112
|
(1,168)
|
| 14. |
Paid up Equity Share Capital (Face Value
of Rs.2/- each) |
2,298 |
2,238
|
2,238
|
2238
|
| 15. |
Reserves excluding Revaluation Reserve
|
(12,674) |
(11,722)
|
(10,443)
|
(11,722)
|
| 16.i |
Earning per Share (in Rs)
|
|
|
|
|
| |
Before Extra Ordinary Items |
|
|
|
|
| |
Basic |
(0.94) |
(0.66)
|
0.08
|
(1.14)
|
| |
Diluted |
(0.87) |
(0.66)
|
0.07
|
(1.14)
|
| 16 ii |
After Extra Ordinary Items
|
|
|
|
|
| |
Basic |
(0.94)
|
(1.61)
|
0.08
|
(0.24)
|
| |
Diluted |
(0.87)
|
(1.61)
|
0.07
|
(0.24)
|
| A.. |
PARTICULARS OF SHAREHOLDING
|
|
|
|
|
| 1. |
Public Shareholding |
|
|
|
|
| |
- No of Shares |
86,309,139
|
86,309,139
|
86,309,136
|
86,309,139
|
| |
- Percentage of Shareholding |
77.13%
|
77.14%
|
77.14%
|
77.14%
|
| 18. |
Promoters and Promoter group Shareholding |
|
|
|
|
| a). |
Pledged/Encumbered |
|
|
|
|
| |
- Number of Shares |
9,765,725
|
9765725
|
9,765,725
|
9765725
|
| |
- Percentage of Shares ( as a % of the total
shareholding of promoter and promoter group) |
34.18%
|
38.17%
|
38.17%
|
38.17%
|
| |
- Percentage of Shares ( as a % of the total
share Capital of the company) |
8.50%
|
8.73%
|
8.73%
|
8.73%
|
| b). |
Non - encumbered |
|
|
|
|
| |
- Number of Shares |
18,802,618
|
15817544
|
15,817,547
|
15817544
|
| |
- Percentage of Shares ( as a % of the total
shareholding of promoter and promoter group) |
65.82%
|
61.83%
|
61.83%
|
61.83%
|
| |
- Percentage of Shares ( as
a % of the total share Capital of the company) |
16.37% |
14.14%
|
14.14%
|
14.14%
|
| B |
INVESTOR COMPLAINTS |
|
|
|
|
| |
Pending at the beginning of the quarter
|
Nil |
|
|
|
| |
Received during the quarter |
5 |
|
|
|
| |
Disposed of during the quarter |
5 |
|
|
|
| |
Remaining unresolved at the end of the quarter
|
Nil |
|
|
|
| |
| Notes : |
1.
2.
3.
4.
5.
6.
7.
8.
9. |
The above audited
financial results, after being reviewed by audit committee,
were approved by the Board of Directors during meeting
dated 31st July,2012.
9,52,300, 5% cumulative redeemable preference shares of
Rs.100/- each are overdue for redemption. Company's offer
for the renewal of the same is pending decision of shareholders
for acceptance and ultimate order of BIFR.
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 being 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.
Following Reference to BIFR u/s 15 of SICA,the
Company has been declared sick under Sick Industrial Companies
(Special Provisions) Act,1985 vide it's order dated August
23,2011.BIFR has directed the company to submit a rehabilitation
package,Pending further directives from BIFR,the company
continues to operate under CDR scheme.
Issue of equity shares against proceeds of application
money from NRETF amounting to Rs.192 Lacs is pending approval
from appropriate authorities.
2985074 no. of equity shares of Rs.2/- each have
been issued at a premium of Rs.3.36 per share to NRETF
by way of preferential allotment after requisite permission
received from NSE on 8th May,2012.
In line with approved CDR package, the company is poised
to divest it's holdings in equity and preference shares
in it's subsidiary Nicco Biotech Limited, subject to approval
of BIFR.
Retention of brought forward balance against deferred
tax asset (net) is ascribed to management action plan
confirming adequacy of future profit. However addition/accretion
has been done away with as a measure of abundant prudence.
Previous year/period figures have been regrouped and rearranged
where ever necessary in terms of current period.
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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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S. LAHIRI
PARTNER
Basu House,
3, Chowringhee Approach
KOLKATA - 700 072 |
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RAJIVE KAUL
CHAIRMAN
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INDRANIL MITRA
GENERAL MANAGER & CO. SECRETARY |
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PLACE :KOLKATA
DATE : THE 31 ST DAY OF JULY,2012 |
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