Deepak Nitrite
Limited declares 30 per cent Dividend
|
|
The Board of Director has recommended higher
dividend of 30 per cent (previous year 25
per cent) for the year 2001-02
Despite lacklustre market conditions and
general down turn in the economy, Deepak
Nitrite Limited (DNL) has posted higher
turnover of Rs. 214.55 crore compared to
Rs. 201.77 crore of the previous year. Export
growth of 14.61 per cent has significantly
contributed toward the increase in turnover.
Net Profit stood at Rs. 7.90 crore as compared
to Rs. 10.23 crore for of pervious year.
(including Rs. 7.46 crore on sale of commercial
premises)
The Company was able to register significant
growth in operating profits due to efficient
energy management, improved operational
efficiencies, and favourable raw material
prices. Company’s effort to develop
new value added products for exports has
helped to improve the bottom line. Consorted
cost cutting measures initiated by the company
during the year have helped keep cost in
check.
|
| Registered
Office: 9/10, Kunj Society, Alkapuri, Baroda-390007 |
AUDITED
FINANCIAL RESULTS
FOR THE YEAR ENDED 31st
MARCH, 2002
|
| |
|
Sr.No. |
Particulars |
Quarter
ended |
Quarter
ended |
Year ended |
Year
ended |
|
|
|
31-03-2002 |
31-03-2001 |
31-03-2002 |
31-03-2001 |
|
|
|
(Unaudited) |
(Unaudited) |
(Audited) |
(Audited) |
| 1. |
Net
Sales |
5582.00 |
5605.85 |
21157.22 |
20017.90 |
| 2. |
Other
Operating Income |
104.21 |
90.77 |
298.06 |
159.64 |
| 3. |
Other
Income |
99.42 |
786.49 |
303.13 |
1023.81 |
| 4. |
Total
Expenditure |
4835.96
|
5194.94
|
18838.08
|
18288.34
|
| |
(Increase)
/ Decrease in stock in trade |
210.62 |
47.55 |
311.63 |
(487.58) |
| |
Consumption
of raw materials |
2855.93 |
3513.24 |
11898.00 |
12215.58 |
| |
Staff cost |
392.30 |
374.35 |
1608.66 |
1533.5 |
| |
Other expenditure |
1377.11 |
1259.80 |
5019.79 |
5026.81 |
| 5. |
Interest |
332.13 |
280.37 |
1254.74 |
1105.37 |
| 6. |
Depreciation |
185.32 |
188.02 |
733.32 |
702.30 |
| 7. |
Profit
before Tax |
432.22 |
819.78 |
932.27 |
1105.34 |
| 8. |
Provision
for taxation
|
|
|
|
|
| a) |
Current
tax |
37.00 |
90.00 |
61.00 |
90.00 |
| b) |
Deferred
tax |
16.23 |
-- |
87.23 |
-- |
| 9. |
Profit
after Tax |
378.99 |
729.78 |
784.04 |
1015.34 |
| 10. |
Add/(Less)
: Prior Year’s adjustment |
5.71 |
7.79 |
5.71 |
7.79 |
| 11. |
Net
Profit |
384.70 |
737.57 |
789.75 |
1023.13 |
| 12. |
Paid
up Equity Share Capital
(Face Value of Rs.10/- each) |
575.00 |
575.00 |
575.00 |
575.00 |
| 13. |
Reserves
excluding revaluation reserve |
|
|
5232.98 |
6430.92 |
| 14. |
Earning
per share Rs. |
6.69 |
12.83 |
13.73 |
17.79 |
| 15. |
Aggregate
of Non-Promoter Shareholding |
|
|
|
|
|
|
Number
of Shares |
3298063 |
3410413 |
3298063 |
3410413 |
|
|
Percentage
of Shareholding |
57.36 |
59.31 |
57.36 |
59.31 |
|
|
| |
notice
- |
| 1) |
Previous year’s figures,
wherever necessary, have been regrouped
in order to conform to this year’s classification. |
| |
|
| 2) |
In view of the Accounting
Standard AS-22 “Accounting for Taxes
on Income” issued by The Institute of
Chartered Accountants of India, which
has come into effect from 1st April,
2001, provision for tax for deferred
tax liability on account of timing differences
as on 31st March, 2001 of Rs.1815 lacs
has been set off against the Company’s
Revenue Reserves. |
| |
|
| 3) |
The net profit for the
quarter and the year ended 31st March,
2002 is not comparable with that of
previous year since previous year’s
results included other income of Rs.746.46
lacs on account of sale of commercial
premises at Mumbai. |
| |
|
| 4) |
The Board of Directors
has recommended a dividend of 30% on
Equity Shares of the Company for the
year ended 31st March, 2002 amounting
to Rs. 172.50 Lacs, for the approval
of the Shareholders. |
| |
|
| 5) |
The above audited financial
results have been considered and taken
on record by the Board of Directors
at its meeting held on 19th June, 2002. |
|
|
SEGMENT-WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED |
|
(Rs. in lacs) |
| Sr.No. |
Particulars |
Quarter
ended |
Year
ended |
|
|
|
31-03-2002 |
31-03-2002 |
|
|
|
(Unaudited) |
(Audited) |
|
1 |
Segment
Revenue : |
|
|
|
|
a)
Inorganic Intermediates |
1841.27 |
7309.17 |
|
|
b)
Organic Intermediates |
2606.72 |
10115.67 |
|
|
c)
Fine & Speciality Chemicals |
1239.36 |
4037.84 |
|
|
Total |
5687.35 |
21462.68 |
|
|
Less
: Inter Segment Revenue |
1.14 |
7.40 |
|
|
Net
Sales / Income from Operations |
5686.21 |
21455.28 |
|
2 |
Segment
Results before Tax and Interest
: |
|
|
|
|
a)
Inorganic Intermediates |
380.39 |
1111.82 |
|
|
b)
Organic Intermediates |
377.75 |
1346.87 |
|
|
c)
Fine & Speciality Chemcials |
153.06 |
396.14 |
|
|
Total |
911.20 |
2854.83 |
|
|
Less
: i)Interest |
332.13 |
1254.74 |
|
|
ii)Other
un-allocable expenditure net
of
un-allocable income |
141.14 |
662.11 |
|
|
Total
Profit before Tax |
437.93 |
937.98 |
|
3 |
Capital
Employed : |
|
|
|
|
(Segment
Asset – Segment Liabilities) |
|
|
|
|
a)
Inorganic Intermediates |
3519.42 |
3519.42 |
|
|
b)
Organic Intermediates |
8206.40 |
8206.40 |
|
|
c)
Fine & Speciality Chemicals |
2546.45 |
2546.45 |
|
|
d)
Others – Un-allocable |
2151.26 |
2151.26 |
|
|
Total: |
16423.53 |
16423.53 |
|
|
| |
| |
notes
- |
|
1) |
Segment
have been identified in line with
the Accounting Standards on Segment
Reporting (AS-17), taking into account
the organisation structure as well
as the differential risks and returns
of these segments. |
|
|
|
|
2) |
Segment
Revenue, Results and Capital Employed
figures include the respective amounts
identifiable to each of the segments.
Other unallocable expenditure includes
expenses incurred on common services
provided to the segments which are
not directly identifiable to the individual
segments as well as expenses incurred
at a corporate level which relates
to the Company as a whole. |
|
|
|
| |
MUMBAI, 19th
JUNE, 2002 |
| |
D.C. MEHTA |
| |
MANAGING DIRECTOR |
| |
|
|
