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UNAUDITED
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AUDITED
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Sr No
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PARTICULARS
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31st
DEC-07
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31st
DEC-06
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31st
DEC-07
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31st
DEC-06
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31 st
Mar-07
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1.
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Sales / Income from operatons
(Gross)
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214.05
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540.92
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466.42
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4,876.04
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4,877.22
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|
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Less:Excise Duty
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29.91
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62.31
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66.51
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601.14
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601.14
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Net
Sales/Income from Operation(Net)
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184.14
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478.61
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399.92
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4274.90
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4276.08
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2.
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Other
Income
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6.19
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3.37
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35.19
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25.14
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472.40
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3.
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Total
Income (1+2)
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190.34
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481.98
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435.12
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4,300.04
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4,748.48
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4.
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Expenditure
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a)
(Increase)/decrease in stock in trade and Work In Progress
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(45.31)
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179.22
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(476.90)
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(190.79)
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258.41
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b)
Consumption of raw materials
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135.20
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305.44
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715.04
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3,050.01
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3,052.51
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c)
Employees Cost
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73.12
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80.71
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227.28
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238.53
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322.64
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d)Depreciation
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121.55
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121.51
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364.39
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364.30
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485.97
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e) Power
& Fuel
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96.34
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123.19
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332.14
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942.31
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970.19
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f) Other
Expenditure
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99.15
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87.81
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388.96
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561.96
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598.81
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g)Total
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480.05
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897.88
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1,550.89
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4,966.32
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5,688.52
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5
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Interest
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77.19
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113.65
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258.87
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319.46
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403.87
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6
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Exceptional
Items
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-
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-
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-
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-
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39.45
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7
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Profit/(Loss)
from Ordinary Activities before Tax (3) - (4+5+6)
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(366.88)
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(529.55)
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(1,374.65)
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(985.74)
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(1,383.36)
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8
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Tax
expenses
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0.65
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2.77
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3.18
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4.56
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5.93
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9
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Profit/(Loss)
from Ordinary Activities after Tax (3) - (4+5+6)
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(367.53)
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(532.32)
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(1,377.83)
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(990.30)
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(1,389.29)
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10
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Extraordinary
Items (net of Tax expense Rs. Nil)
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-
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-
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-
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-
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-
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11
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Profit/(Loss)
for the period(9-10)
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(367.53)
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(532.32)
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(1,377.83)
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(990.30)
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(1,389.29)
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12
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Paid-up
equity share capital (Face value of Rs.10 each)
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1590.20
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5,300.67
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1,590.20
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5,300.67
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5,300.67
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13
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Reserves
Excluding Revaluation Reserve as per balance sheet of previous accounting
year
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-
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-
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-
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-
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-
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14
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Earnings
Per Share (EPS)
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a) Basic
and diluted EPS before extraordinary items for the period, for the year to
date and for the previous year (Not Annualised)
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(2.31)
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(1.00)
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(8.66)
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(1.87)
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(2.62)
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b) Basic
and diluted EPS after extraordinary items for the period, for the year to
date and for the previous year (Not Annualised)
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(2.31)
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(1.00)
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(8.66)
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(1.87)
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(2.62)
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15
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Public
shareholding
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- Number
of Shares
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7,891,619
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26,305,391
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7,891,619
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26,305,391
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26,305,391
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-
Percentage of shareholding
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49.63%
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49.63%
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49.63%
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49.63%
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49.63%
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Notes:
1.
The
above results were recommended by the Audit committee and were taken on record
at the meeting of Board of Directors
held on Jan 25, 2008.
2.
Although
the accumulated losses exceed the net worth of the Company, these results have
been prepared by the Management on a “going concern” basis taking into account
the financial support of promoters/shareholders, the long term restructuring
package agreed and finalized with financial institutions and banks and likely
to be revised after revised CDR proposal accepted by core group.
3.
a)
There was a fire on October 24, 2006 in the finishing area of the plant
resulting in substantial losses of stocks and fixed assets and consequently
complete stoppage of production activity. The plant resumed its operations in
the month of July – 2007 with very low capacity utilization resulting into
higher losses during the quarter. The plant as again shut down from 15th
October,2007 for want of working Capital and has not
resumed till date.
b) The claim for loss of fixed assets
destroyed in fire is yet to be finalized and settled by the Insurance Company.
Loss, if any, shall be accounted for on final settlement of claim by the
Insurance Company.
4.
(a) The
Corporate Debt Re-structuring Cell (CDR) of Financial Institutions and
Banks had sanctioned a comprehensive
restructuring package of company’s debts and liabilities which inter alia among others provides
for reduction of rate of interest on secured and unsecured loans, waiver
of a part of overdue interest, reschedulement of
repayment of loans, reduction in equity capital (existing by 70%), conversion
of certain debts/ interest on term loan
and ZCNCD’s into equity, induction of fresh capital
by promoters etc. SASF (ZCNCD’S
owed to IDBI have been assigned to ‘SASF’, a trust constituted by Government of India under the
trust deed dated September 24, 2004), IFCI, ICICI, LIC, State Bank of India,
State Bank of Travancore, State Bank of Bikaner & Jaipur and Bank of
India have also given sanctions in line with the re structuring package
sanctioned by CDR. Consequent to fire and stoppage of plant the Company has
requested CDR cell for further restructuring of sanctioned package and the same
has been approved in principle, by the
core group of CDR. The revised working has been submitted and circulated by the
lead banker to all FIs and Banks on November 14,2007
and the same will be checked and Monitoring committee meeting will be called to
discuss the same.
(b)
ASREC (India) Ltd. has sanctioned
settlement proposal in respect of dues payable by company to UTI including waiver of overdue interest. Pending approval
of the same by CDR, effect of the same has not been given in these results,
except providing interest @ 8.25 %(reduced rate) w.e.f April 1, 2007. Consequent to fire and stoppage of
plant, the Company has requested ASREC (India)
Ltd. for further time for repayment of amount payable under the above
settlement. Regarding one time settlement with UTI and partial implementation of the terms of settlement
pending approval of the same by the CDR.
5. Qualification
given in the auditors report on the Financial statement for the year ended 31st
March,2007are receiving our attention and would be
resolved in due course.
6. Pursuant to the approval of Hon’ able High
court of Mumbai, the issued and paid up equity share capital of the Company was
reduced from Rs.53,00,66,650 divided in to 5,30,06,665 equity share of Rs. 10/- each fully paid up to Rs.
15,90,19,990 divided in to 1,59,01,999 equity shares of Rs.
10/- each fully paid up by cancellation of the existing paid up equity share
capital in ratio of cancellation of seven (7) equity shares of Rs. 10/- each out of every Ten (10) equity shares of
Rs.10/- each held by the equity share holder.
7.
The Company is primarily engaged in one segment i.e. EPDM
rubber.
8. There were no investors’ complaints pending
at the beginning and at the end of the quarter. During the quarter 342 complaints were received and
were disposed of.
9. In view of carry forward unabsorbed losses
and depreciation no provision for current tax is required and as a matter of
prudence deferred tax asset has not been recognized.
10. The Previous period figures have been
regrouped and rearranged wherever necessary. Quarterly annual results are not comparable with
the figures of corresponding periods of the previous year for the reasons
stated in Para 3(a) above.
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By
Order of the Board
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For
UNIMERS INDIA LIMITED
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Place:
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Mumbai
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Date:
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January
25, 2008
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Senior
Manager (Finance & Accounts)
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Whole
Time Director
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