Deepak Nitrite Limited
declares 25 per cent Dividend
|
| Total
income for the year 2000-2001 has increased
from Rs.177.68 crore to Rs.212.02 crore.
This includes income from sale of commercial
premises of the company in Mumbai.
The profit after charging
all operating expenses, interest of Rs.11.05
crore (Previous year Rs.9.78 crore) and
depreciation of Rs.7.02 crore (Previous
year Rs.6.11 crore) but before Tax amounted
to Rs.11.05 crore as against Rs.12.59 crore
in the previous year. The net profit for
the year after providing for taxation of
Rs.0.90 crore (Previous year Rs.1.33 crore)
and after prior year’s adjustment
/ Extraordinary items of Rs.0.08 crore (Previous
year Rs.0.04 crore) amounted to Rs.10.23
crore against Rs.11.30 in the previous year.
Operating margins were under
severe pressure due to substantial increase
in the prices of major raw materials and
fuel that could not be passed on due to
depressed market conditions. Company also
faced heavy dumping on some of its major
products.
The Board of Directors
has recommended maintaining the dividend
of 25 per cent for the year 2000-2001.
|
| Registered
Office: 9/10, Kunj Society, Alkapuri, Baroda-390007 |
AUDITED FINANCIAL
RESULTS FOR THE
QUARTER ENDED 31st MARCH, 2001
|
| |
| Sr.No. |
Particulars |
Current
Year |
Previous
Year |
| |
|
ended
on
31-03-2001 |
ended
on
31-03-2000 |
| 1. |
Net Sales |
20,017.90 |
17,427.88 |
| 2. |
Other Operating Income |
159.64 |
111.11 |
| 3. |
Other Income |
1,023.81 |
228.64 |
| 4. |
Total Expenditure |
18,288.34 |
14,919.34 |
| |
a. (Increase)/decrease
in stock in trade |
(487.58) |
(151.19) |
| |
b. Consumption of Raw Materials |
12,215.58 |
9,060.59 |
| |
c. Staff Cost |
1,533.53 |
1,390.07 |
| |
d. Other Expenditure |
5,026.81 |
4,619.87 |
| 5. |
Interest |
1,105.37 |
977.78 |
| 6. |
Depreciation |
702.30 |
611.31 |
| 7. |
Profit before Tax |
1,105.34 |
1,259.20 |
| 8. |
Provision for taxation |
90.00 |
132.50 |
| 9. |
Profit after tax |
1,015.34 |
1,126.70 |
| 10. |
Add / (Less) : Prior Year’s
adjustment / |
|
|
| |
Extraordinary
items |
7.79 |
3.63 |
| 11. |
Net Profit |
1,023.13 |
1,130.33 |
| 12. |
Paid up Equity Share Capital |
|
|
| |
(Face Value of Rs. 10/-
each) |
575.00 |
574.90 |
| 13. |
Reserves excluding revalution
reserve |
6,430.92 |
5,565.40 |
| 14. |
Earning Per Share (Rs.) |
17.79 |
19.66 |
| 15. |
Aggregate of Non-Promoter
Shareholding |
|
|
| |
Number of Shares |
3,410,413 |
- |
| |
Percentage of Shareholding |
59.31% |
- |
|
|
| |
notice
- |
| 1) |
Previous
year's figures, wherever necessary,
have been regrouped in order to conform
to this year's classification. |
| |
|
| 2) |
Substantial
increase in the prices of major raw
materials and fuel could not be passed
on, as a result of heavy dumping in its
main products, leading to a significant
fall in operating profit. |
| |
|
| 3) |
Other
income includes profit of Rs.746.46
lacs on sale of its commercial premises
at Mumbai. |
| |
|
| 4) |
As
a result of the change in the Accounting
Policy for benefits under Duty Entitlement
Pass Book Scheme, the Net profit as
per Profit & Loss account for
the year is higher by Rs.93.55 lacs. |
| |
|
| 5) |
The Board of Directors
has recommended a divident of 25% on
Equity Shares of the Company for the
year ended 31st March. 2001 amounting
to Rs.158.41 lacs (including dividend
tax) for the approval of the shareholders. |
| |
|
| 6) |
The above audited financial
results have been considered and taken
on record by the Board of Directors at
its meeting held on 30th May, 2001. |
| |
|
| |
MUMBAI, 30th
MAY, 2001 |
| |
D. C. MEHTA |
| |
MANAGING DIRECTOR |
|
|
