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Audited Financial Results for year ended March 31, 2008
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Standalone Financials |
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Consolidated Financials |
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Year ended |
Year ended |
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Year ended |
Year ended |
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Audited |
Audited |
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Audited |
Audited |
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March 31, 2008 |
March 31, 2007 |
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March 31, 2008 |
March 31, 2007 |
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1. |
Net Income from sales / services |
64,629.93 |
29,571.71 |
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69,990.67 |
29,571.71 |
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2. |
Other Income |
289.26 |
485.59 |
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313.70 |
485.59 |
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3. |
Total Income (1+2) |
64,919.19 |
30,057.30 |
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70,304.37 |
30,057.30 |
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4. |
Total Expenditure: |
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a) Accretion / Decretion to Stock in Trade & Work in progress |
(2,067.63) |
(1.94) |
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(2,109.22) |
(1.94) |
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b) Consumption of Raw Materials |
57,013.33 |
25,191.01 |
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61,292.51 |
25,191.01 |
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c) Employee Cost |
1,595.91 |
933.56 |
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1,920.08 |
933.56 |
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d) Depreciation |
278.72 |
136.82 |
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318.45 |
136.82 |
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e) Other Expenditure |
1,453.38 |
1,219.78 |
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2,152.78 |
1,219.78 |
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Total |
58,272.95 |
27,479.23 |
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63,574.60 |
27,479.23 |
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5. |
Gross Profit / (Loss) |
1,441.74 |
1,441.74 |
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364.29 |
6,646.23 |
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6. |
Interest (Net) |
308.74 |
308.74 |
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193.41 |
1,165.33 |
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7. |
Exceptional Items |
- |
- |
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- |
- |
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8. |
Profit / (Loss) before Taxation from Ordinary
Activities |
1,133.00 |
1,133.00 |
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170.88 |
5,480.90 |
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9. |
Provision for Taxation / Tax Expenses |
398.66 |
398.66 |
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30.00 |
1,941.04 |
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10. |
Net Profit / (Loss) after Taxation from Ordinary
Activities |
734.34 |
734.34 |
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140.88 |
3,539.86 |
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11. |
Extraordinary Items (net of Tax Expenses) |
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- |
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12. |
Net Profit (Loss) for the period |
734.34 |
734.34 |
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140.88 |
3,539.86 |
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Less Minority Interest |
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(19.63) |
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Add Share of Associates |
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3.48 |
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Net Profit after Taxation (PAT) after Minority interest and
share of profit / |
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- |
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3,486.22 |
1,313.64 |
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(Loss) from Associates |
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13. |
Paid up Equity Share Capital (Face value of Rs.
10 per equity share) |
4,286.78 |
2,024.52 |
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4,286.78 |
2,024.52 |
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14. |
Reserves |
29,651.31 |
13,238.25 |
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29,213.91 |
13,238.25 |
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15. |
Earnings per Share (EPS) - Basic |
11.79 |
6.49 |
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11.61 |
6.49 |
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Earnings per Share (EPS) - Diluted
(Rs.
per equity share) |
9.90 |
3.36 |
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9.86 |
3.47 |
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16. |
Public Shareholding |
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- Number of Shares |
2,44,09,436 |
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2,44,09,436 |
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- Percentage of Shareholding |
56.94 |
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56.94 |
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Segment Reporting under Clauses 41 of the Listing Agreement with
Stock Exchange for the quarter ended June 30, 2008 (standalone) |
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Standalone Financials |
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Consolidated Financials |
| 1. Segment Revenue : |
Year Ended |
Year Ended |
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Year Ended |
Year Ended |
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Audited |
Audited |
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Audited |
Audited |
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(Net Sales / Income from each Segment Gross of Excise) |
March 31, 2008 |
March 31, 2007 |
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March 31, 2008 |
March 31, 2007 |
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a) Contracts |
52,089.3 |
22,914.22 |
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55,119.13 |
22,914.22 |
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b) Windmill |
12,540.00 |
6,657.49 |
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14,871.54 |
6,657.49 |
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Sub-Total |
64,629.93 |
29,571.71 |
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69,990.67 |
29,571.71 |
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Less : Intersegmental Revenue |
- |
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Net Sales / Income from Operations |
64,629.93 |
29,571.71 |
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69,990.67 |
29,571.71 |
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2. Segment Results : (Profit (+) / Loss (-) before Tax
and Interest from each segment) |
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a) Contracts |
8,886.13 |
2,572.35 |
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10,294.73 |
2,572.35 |
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b) Windmill |
841.16 |
1,224.66 |
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487.05 |
1,224.66 |
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Sub-Total |
9,727.29 |
3,797.01 |
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10,781.78 |
3,797.01 |
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Less : (I) Interest (net) |
1,187.05 |
411.94 |
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1,202.36 |
411.94 |
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(II) Other un-allocable expenditure net of un-allocable income |
3,059.34 |
1,218.94 |
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4,052.01 |
1,218.94 |
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Total Profit Before Tax |
5,480.90 |
2,166.13 |
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5,527.41 |
2,166.13 |
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3. Capital Employed (Segment Assets - Segment Liabilities) |
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a) Contracts |
27,874.29 |
10,455.71 |
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36,006.96 |
10,455.71 |
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b) Windmill |
9,700.73 |
5,143.65 |
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12,235.65 |
5,143.65 |
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Add : Share in Associates |
- |
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3.48 |
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37,575.02 |
15,599.36 |
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48,246.09 |
15,599.36 |
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Note : |
Public Share holding - as classified under Category B in the share
holding pail em in the Clause3S of the Listing Agreement
A. The above results have been reviewed by the Audit Committee at
its meeting held on 155 2008 and approved by the Board of Directors of
the Company at its Meeting held on 16th
May 2008.
B. In February 2008, the Company made an Initial Public Offer of
5,000,000 Equity shares of Rs 10/-each at a premium of Rs 290/- per
share aggregating to Rs 15,000.00 Lakhs.
Consequently the Paid-up Equity share capital has
increased by Rs.500.00 Lakhs on February 20, 2008 and the share premium
amount of Rs 12,873 11 Lakhs (net of Initial Public
Offer issue expenses of Rs 1,626 89 Lakhs) has
been credited to securities premium account The equity shares of the
Company were listed and admitted for trading on Bombay
Stock Exchange and National Stock Exchange with
effect from February 20,2008
C. The proceeds of the Initial Public Offer are being utilized
for the purpose stated in the offer document. Investment in Orient Green
Power Limited has been routed through Shriram
EPC )Singapore Pvt Ltd.
D. During the year the zero % Convertible Preference Shares held
by MIs Uno Investments and MIs Bessemer Venture Partners Trust have been
converted into Equity Shares on
exercise of the option by the holders as provided
form the investment Agreement with them in the ratio of one equity share
for each preference share held.
E. Based on board approval and subject to the shareholders
approval the company proposes to transfer the business of wind turbines
effective April 1, 2008 As per the terms of the
Business Transfer Agreement entered into between
the company and its subsidiary, Shriram Leitwind Limited and its
associate Leitner Shriram Manufacturing Limited, assets
aggregating to Rs 182858 lakhs are to be
transferred at book value Consolidated profit after tax of Rs 3,48622
lakhs for the year includes Rs 367 50 lakhs relating to the wind
turbine business for the year
F. The Company has instituted two Employees Stock Option Schemes,
viz Shriram EPC Employee Stock Option Scheme, 2006 and Shriram EPC
Employee Stock Option Scheme,
2007. of ESOP 2006 & ESOP 2007. Under these Schemes,
the Company has granted 1,715,942 options. Of these, 177,286 options
were exercised by the eligible employees
under the 2006 Scheme. The company has obtained an
In-principle Sanction from NSE & BSE in respect of the 2006 Scheme,on7th
May2008.
G. The company has made investments during the year of Rs 8,409 87
lakhs out of which Rs 5,776 37 lakhs are in Subsidiary companies
H. The Audited Financial Results of the Company have been
displayed on the Company’s website www.shriramepc.com and also on the
websites of the NSE and the BSE.
I. The consolidated financial results have been prepared in
accordance with Accounting Standard - 21 on ‘Consolidated Financial
Statement”, Accounting Standard 23 on ‘Accounting
for investments in Associates issued by the Institute
of Chartered Accountants of India The financial results include results
of its v Tholly owned subsidiary Viz, Shriram EPC
Singapore Pvt. Ltd., subsidiaries Hamon ShriramCottrell
Private Limited and Shriram Leitwind Limited.
The Company received and satisfactory resolved 66 investors’ complaints
during the year There are no pending complaints as at3lst March 2008 K
Figures of the previous periods have been regrouped & reclassified v The
rever necessary, in order to make them comparable |
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Place: Chennai
Date: 29th July2003 |
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For Shriram EPC Limited
Sd/-
T.Shivaraman
Managing Director |
