company snapshot | products | we buy | media | investors | human resources | information zone | home  
   :: financial results :: investor relations
 
   
 

financial results ::

Deepak Nitrite Limited Net Profit up by 48%,
Declare Dividend of 30%

DNL has posted higher turnover of Rs. 252 crore compared to Rs. 214 crore of the previous year. Export has increased by 32 per cent. Profit after tax stood at Rs.11.70 crore as compared to Rs. 7.9 crore for the pervious year, an increase of 48 per cent. Earning per share has increased to Rs.20.36 from Rs. 13.73 for the previous year. The Board of Director has recommended maintaining the dividend at last year level of 30 per cent, the total out go on this count hence will be higher as compared to the previous year due to dividend distribution tax.

The Company was able to register significant growth in operating profits due to increase in turnover and improved operational efficiencies. Introducing new value added products for the export market has helped to improve the bottom line. Concerted cost cutting measures initiated by the company during the year have helped keep costs in check.

DNL will further consolidate its strategic shift from low margin bulk intermediates to high margin fine, speciality, and performance chemicals and will continue to develop new products based on its existing core competencies. The company hopes to move ahead by focusing on R&D on one hand and intensifying its thrust in global market on the other.
Registered Office: 9/10, Kunj Society, Alkapuri, Baroda-390007
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st MARCH, 2003

(Rs. in Lacs)

Sr.No.
Particulars
Nine months ended
Quarter ended
Year ended
   
31-12-2002
31-03-2003
31-03-2002
31-03-2003
31-03-2002
   
(Unaudited)
(Unaudited)
(Unaudited)
(Audited)
(Audited)
1 Net Sales 18473.96 6458.19 5582.00 24932.15 21157.22
2 Other Operating Income 250.27 11.42 104.21 261.69 298.06
3 Other Income 190.72 36.98 99.42 227.70 303.13
4 Total Expenditure 16566.68 5490.02 4835.96 22056.70 18838.08
  a. (Increase)/decrease in stock in trade
(311.02)
(527.67)
210.62
  (838.69)
311.63
  b. Consumption of raw materials 11298.96 3943.72 2855.93 15242.68 11898.00
  c. Staff cost 1266.82 493.13 392.30 1759.95 1608.66
  d. Other expenditure 4311.92 1580.84 1377.11 5892.76 5019.79
5 Interest 881.00 237.02 332.13 1118.02 1254.74
6 Depreciation 577.28 196.55 185.32 773.83 733.32
7 Profit before Tax 889.99 583.00 432.22 1472.99 932.27
8 Provision for taxation          
  a. Current tax 199.28 87.72 37.00 287.00 61.00
  b. Deferred tax 38.50 (23.25) 16.23 15.25 87.23
9 Profit after tax 652.21 518.53 378.99 1170.74 784.04
10 Add (Less) : Prior Year’s
adjustment / Extraordinary items
- 
             - 
        5.71
 -  5.71
11 Net Profit 652.21 518.53 384.70 1170.74 789.75
12 Paid up Equity Share Capital 575.00 575.00 575.00 575.00 575.00
  (Face Value of Rs. 10/- each)          
13 Reserves excluding revalution
reserve		       6030.26 5232.98
14 Basic and diluted EPS not
annualised( Rs.)		 11.34 9.02 6.69 20.36 13.73
15 Aggregate of Non-Promoter
Shareholding		          
  Number of Shares 3289255 3289255 3298063 3289255 3298063
  Percentage of Shareholding 57.20 57.20 57.36 57.20 57.36
notice -

1)

Previous year’s figures, wherever necessary, have been regrouped in order to conform to this year’s classification.
 

2)

 The Auditors of the Company have conducted a limited review of the results for the half year ended 30th September, 2002.
 
3) The above unaudited financial results have been considered and taken on record by the Board of Directors at its meeting held on 26th October, 2002.
 
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
 (Rs. in Lacs)
Sr.No.
Particulars
Quarter ended
Year ended
   
31-03-2003
31-03-2002
31-03-2003
31-03-2002
   
(Unaudited)
(Unaudited)
(Audited)
(Audited)
1 Segment Revenue :        
  a) Inorganic Intermediates 1857.50 1841.27 7681.05 7309.17
  b) Organic Intermediates 3289.51 2606.72 12362.34 10115.67
  c) Fine & Speciality Chemicals 1323.59 1239.36 5161.06 4037.84
  Total 6470.60 5687.35 25204.45 21462.68
  Less: Inter segment revenue 0.99 1.14 10.61 7.40
  Net Sales/Income from operations 6469.61 5686.21 25193.84 21455.28
2 Segment Results before tax & Interest:        
  a) Inorganic Intermediates 475.31 380.39 1695.69 1111.82
  b) Organic Intermediates 400.78 377.75 1113.59 1346.87
  c) Fine & Speciality Chemicals 201.61 153.06 687.71 396.14
  Total 1077.70 911.20 3496.99 2854.83
  Less: i) Interest 237.02 332.13 1118.02 1254.74
          ii) Other un-allocable expenditure 257.68 141.14 905.98 662.11
         Net off un-allocable Income        
  Total Profit Before Tax 583.00 437.93 1472.99 937.98
3 Capital Employed :        
  a) Inorganic Intermediates 3538.92 3519.42 3538.92 3519.42
  b) Organic Intermediates 9059.88 8206.40 9059.88 8206.40
  c) Fine & Speciality Chemicals 3099.78 2546.45 3099.78 2546.45
  d) Other unallocable 2394.93 2151.26 2394.93 2151.26
  Total 18093.51 16423.53 18093.51 16423.53
 
  notes -

1)

Previous year’s figures, wherever necessary, have been regrouped in order to conform to this year’s classification.
   
2) Reserves excluding revaluation reserve is  net of Misc. Expenditure to the extent not written off Rs. 178.86 lacs
  (Previous year Nil).
   
3) The Board of Directors has recommended a dividend of  30% on Equity Shares of the Company for the year ended 31st March, 2003, for the approval of the Shareholders.
   
4) The above audited financial results have been considered and taken on record by the Board of Directors at its meeting held on 28th May, 2003.
   
  For DEEPAK NITRITE LIMITED
  MUMBAI, 28th May, 2003
  D.C. MEHTA
  MANAGING DIRECTOR
   
community | what’s new | disclaimer | contact us | sitemap