|
|
|
|
UNAUDITED
|
AUDITED
|
|
Sr No
|
PARTICULARS
|
31st
DEC-07
|
31st
DEC-06
|
31st
DEC-07
|
31st
DEC-06
|
31 st
Mar-07
|
|
1.
|
Sales / Income from operatons
(Gross)
|
214.05
|
540.92
|
466.42
|
4,876.04
|
4,877.22
|
|
|
Less:Excise Duty
|
29.91
|
62.31
|
66.51
|
601.14
|
601.14
|
|
|
Net
Sales/Income from Operation(Net)
|
184.14
|
478.61
|
399.92
|
4274.90
|
4276.08
|
|
2.
|
Other
Income
|
6.19
|
3.37
|
35.19
|
25.14
|
472.40
|
|
3.
|
Total
Income (1+2)
|
190.34
|
481.98
|
435.12
|
4,300.04
|
4,748.48
|
|
4.
|
Expenditure
|
|
|
|
|
|
|
|
a)
(Increase)/decrease in stock in trade and Work In Progress
|
(45.31)
|
179.22
|
(476.90)
|
(190.79)
|
258.41
|
|
|
b)
Consumption of raw materials
|
135.20
|
305.44
|
715.04
|
3,050.01
|
3,052.51
|
|
|
c)
Employees Cost
|
73.12
|
80.71
|
227.28
|
238.53
|
322.64
|
|
|
d)Depreciation
|
121.55
|
121.51
|
364.39
|
364.30
|
485.97
|
|
|
e)
Power & Fuel
|
96.34
|
123.19
|
332.14
|
942.31
|
970.19
|
|
|
f)
Other Expenditure
|
99.15
|
87.81
|
388.96
|
561.96
|
598.81
|
|
|
g)Total
|
480.05
|
897.88
|
1,550.89
|
4,966.32
|
5,688.52
|
|
5
|
Interest
|
77.19
|
113.65
|
258.87
|
319.46
|
403.87
|
|
6
|
Exceptional
Items
|
-
|
-
|
-
|
-
|
39.45
|
|
7
|
Profit/(Loss)
from Ordinary Activities before Tax (3) - (4+5+6)
|
(366.88)
|
(529.55)
|
(1,374.65)
|
(985.74)
|
(1,383.36)
|
|
8
|
Tax
expenses
|
0.65
|
2.77
|
3.18
|
4.56
|
5.93
|
|
9
|
Profit/(Loss)
from Ordinary Activities after Tax (3) - (4+5+6)
|
(367.53)
|
(532.32)
|
(1,377.83)
|
(990.30)
|
(1,389.29)
|
|
10
|
Extraordinary
Items (net of Tax expense Rs. Nil)
|
-
|
-
|
-
|
-
|
-
|
|
11
|
Profit/(Loss)
for the period(9-10)
|
(367.53)
|
(532.32)
|
(1,377.83)
|
(990.30)
|
(1,389.29)
|
|
12
|
Paid-up
equity share capital (Face value of Rs.10 each)
|
1590.20
|
5,300.67
|
1,590.20
|
5,300.67
|
5,300.67
|
|
13
|
Reserves
Excluding Revaluation Reserve as per balance sheet of previous accounting
year
|
-
|
-
|
-
|
-
|
-
|
|
14
|
Earnings
Per Share (EPS)
|
|
|
|
|
|
|
|
a)
Basic and diluted EPS before extraordinary items for the period, for the
year to date and for the previous year (Not Annualised)
|
(2.31)
|
(1.00)
|
(8.66)
|
(1.87)
|
(2.62)
|
|
|
b)
Basic and diluted EPS after extraordinary items for the period, for the
year to date and for the previous year (Not Annualised)
|
(2.31)
|
(1.00)
|
(8.66)
|
(1.87)
|
(2.62)
|
|
15
|
Public
shareholding
|
|
|
|
|
|
|
|
-
Number of Shares
|
7,891,619
|
26,305,391
|
7,891,619
|
26,305,391
|
26,305,391
|
|
|
-
Percentage of shareholding
|
49.63%
|
49.63%
|
49.63%
|
49.63%
|
49.63%
|
|
|
|
|
|
|
|
|
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.
|
|
|
|
|
|
By Order of the Board
|
|
|
|
|
|
|
For UNIMERS INDIA LIMITED
|
|
Place:
|
Mumbai
|
|
|
|
|
|
|
Date:
|
January 25, 2008
|
Senior Manager (Finance & Accounts)
|
Whole Time Director
|
|
UNAUDITED FINANCIAL
RESULTS(PROVISIONAL) FOR THE QUARTER ENDED 30TH SEPTEMBER-2007
|
|
Rs.in
lakhs
|
|
|
|
UNAUDITED
|
AUDITED
|
|
|
|
QUARTERENDED
|
HALFYEAR ENDED
|
YEAR ENDED
|
|
Sr No
|
PARTICULARS
|
30th Sept-07
|
30th Sept-06
|
30th Sept-07
|
30th Sept-06
|
31 st Mar-07
|
|
|
|
|
|
|
|
|
|
1.
|
Sales / Income from
operatons (Gross)
|
252.37
|
2,157.71
|
252.37
|
4,335.12
|
4,877.22
|
|
|
Less:Excise Duty
|
36.60
|
270.07
|
36.60
|
538.83
|
601.14
|
|
|
Net Sales/Income from operation (net)
|
215.77
|
|
|
|
|
|
2.
|
Other Income
|
3.81
|
13.35
|
29.00
|
21.77
|
472.40
|
|
|
|
|
|
|
|
|
|
3.
|
Total Income (1+2)
|
219.58
|
1,900.99
|
244.77
|
3,818.06
|
4,748.48
|
|
4.
|
Expenditure
|
|
|
|
|
|
|
|
a) (Increase)/decrease in stock in trade
|
(431.59)
|
(8.86)
|
(431.59)
|
(370.01)
|
258.41
|
|
|
b) Consumption of raw materials
|
579.84
|
1,343.58
|
579.84
|
2,744.57
|
3,052.51
|
|
|
c) Staff Cost
|
78.28
|
77.49
|
154.15
|
157.82
|
322.64
|
|
|
d)Depreciation & Amortisation
|
121.49
|
121.43
|
242.85
|
242.79
|
485.97
|
|
|
e) Power & Fuel
|
184.71
|
399.93
|
235.80
|
819.12
|
970.19
|
|
|
f) Other Expenditure
|
201.89
|
207.47
|
289.81
|
474.15
|
598.81
|
|
|
|
|
|
|
|
|
|
|
Total Expenditure
|
734.62
|
2,141.03
|
1,070.86
|
4,068.43
|
5,688.52
|
|
5.
|
Interest
|
100.33
|
107.57
|
181.68
|
205.81
|
403.87
|
|
6.
|
Exceptional items
|
-
|
-
|
-
|
-
|
39.45
|
|
7.
|
Profit/(Loss) from ordinary Activities
|
|
|
|
|
|
|
|
before Tax (3) -(4+5+6)
|
(615.37)
|
(347.61)
|
10,007.77
|
456.18
|
1,383.36
|
|
8
|
Tax Expenses
|
1.83
|
0.83
|
2.53
|
1.79
|
5.93
|
|
9
|
Profit/(Loss) from ordinary activities
|
(617.20)
|
(348.44)
|
(1,010.30)
|
(457.97)
|
(1,389.29)
|
|
|
after tax (3) - (4+5+6)
|
|
|
|
|
|
|
10
|
Extraordinary Items (net of Tax expenses Rs.Nil
|
-
|
-
|
-
|
-
|
-
|
|
11
|
Profit/(Loss) for the period (9-10)
|
(617.20)
|
(348.44)
|
(1,010.30)
|
(457.97)
|
(1,389.29)
|
|
12
|
Paid-up equity share capital
|
5,300.67
|
5,300.67
|
5,300.67
|
5,300.67
|
5,300.67
|
|
|
(Face value of Rs 10 each)
|
|
|
|
|
|
|
13
|
Reserves Excluding Revaluation Reserve as per balance
sheet of previous accounting year
|
-
|
-
|
-
|
-
|
-
|
|
14
|
Earnings Per Share (EPS)
|
|
|
|
|
|
|
|
a) Basic and diluted EPS before extraordinary items for
the period, for the year to date and for the previous year (Not
Annualised)
|
(1.16)
|
(0.66)
|
(1.91)
|
(0.86)
|
(2.62)
|
|
|
|
|
|
|
|
|
|
|
b) Basic and diluted EPS after extraordinary items for the
period, for the year to date and for the previous year (Not Annualised)
|
(1.16)
|
(0.66)
|
(1.91)
|
(0.86)
|
(2.62)
|
|
15
|
Public shareholding
|
|
|
|
|
|
|
|
- Number of Shares
|
26,305,391
|
26,305,391
|
26,305,391
|
26,305,391
|
26,305,391
|
|
|
- Percentage of shareholding
|
49.63%
|
49.6300
|
49.63
|
49.63
|
49.63
|
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 October 24, 2007.
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 also one time settlement provided by ASREC (India) Ltd.
(Assignee appointed by UTI for recovery of its dues).
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.
b) The claim for loss of fixed
assets destroyed in fire is yet to be finalized and and 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 the effect of the above has been/is being given in results except
in respect of reduction in equity capital, as approved by the High Court
and filed the same with the Registrar of Companies, the impact whereof
will be given as and when the same is approved by the stock exchange
which is expected shortly. 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.
(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.
(b)
The Company is primarily
engaged in one segment i.e. EPDM rubber.
(c)
There were no investors’
complaints pending at the beginning and at the end of the quarter. During
the quarter 91 complaints were received and were disposed of.
(d)
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.
(e)
The Previous period
figures have been regrouped and rearranged wherever necessary.
Quarterly results are not
comparable with the figures of corresponding period of the previous year
and the audited results of the previous year for the reasons stated in
Para 3(a) above.
|
|
By
Order of the Board
|
|
|
For
UNIMERS INDIA LIMITED
|
|
|
|
|
|
|
|
Senior Manager
(Finance and Accounts)
|
WHOLE
TIME DIRECTOR
|
|
Place: Mumbai
|
|
|
Date: October 24, 2007
|
|
|
|
UNAUDITED
FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED
30TH
JUNE-2007
|
|
|
|
Rs.in lakhs
|
|
|
|
|
UNAUDITED
|
AUDITED
|
|
|
|
|
QUARTER ENDED
|
YEAR ENDED
|
|
Sr No
|
PARTICULARS
|
30th June-07
|
30th June-06
|
31 st Mar-07
|
|
|
1.
|
Sales / Income
from operatons (Gross)
|
-
|
2,177.41
|
4,877.22
|
|
|
|
Less:Excise Duty
|
-
|
268.76
|
601.14
|
|
|
2.
|
Other Income
|
25.19
|
8.42
|
472.40
|
|
|
3.
|
Total Income
|
25.19
|
1,917.07
|
4,748.48
|
|
|
4.
|
Expenditure
|
|
|
|
|
|
|
a)
(Increase)/decrease in stock in trade
|
-
|
(361.15)
|
258.41
|
|
|
|
b) Consumption of
raw materials
|
-
|
1,400.99
|
3,052.51
|
|
|
|
c) Staff Cost
|
75.87
|
80.33
|
322.64
|
|
|
|
d) Power &
Fuel
|
51.09
|
192.82
|
970.19
|
|
|
|
e) Other
Expenditure
|
87.92
|
493.05
|
598.81
|
|
|
|
Total Expenditure
|
214.88
|
1,806.04
|
5,202.56
|
|
|
5.
|
Gross Profit
Before Int.and Depreciation
|
(189.69)
|
111.03
|
(454.08)
|
|
|
6.
|
Interest
|
81.35
|
98.24
|
403.87
|
|
|
7.
|
Depreciation &
Amortisation
|
121.36
|
121.36
|
485.97
|
|
|
8.
|
Profit/(Loss)
beforeExceptional items
|
(392.40)
|
(108.57)
|
(1,343.92)
|
|
|
9
|
Exceptional items
(Net)
|
-
|
-
|
39.45
|
|
|
10
|
Profit/(Loss)
before Tax
|
(392.40)
|
(108.57)
|
(1,383.38)
|
|
|
11
|
Provision for
Fringe Benefit Tax (FBT)
|
0.70
|
0.95
|
5.93
|
|
|
12
|
Profit/(Loss) for
the period
|
(393.10)
|
(109.52)
|
(1,389.31)
|
|
|
13
|
Paid-up equity
share capital
|
5,300.67
|
5,300.67
|
5,300.67
|
|
|
|
(Face value of Rs
10 each)
|
|
|
|
|
|
14
|
Basic &
Diluted (loss) per share (Rs.)
|
(0.74)
|
(0.21)
|
(2.62)
|
|
|
|
(not annualised)
|
|
|
|
|
|
15
|
Aggregate of
Public shareholding
|
|
|
|
|
|
|
- Number of Shares
|
26,305,391
|
26,305,391
|
26,305,391
|
|
|
|
- Percentage of
shareholding
|
49.63%
|
49.63%
|
49.63%
|
|
Notes:
5.
The above results were reviewed by the auditors and
Audit committee, were taken on record at the meeting of Board of
Directors held on 24th July, 2007
6.
The claim for loss of fixed assets destroyed in fire
of October 24, 2006 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. The restoration of damaged fixed assets
has been completed and the Company has resumed its operational
activities from June 27, 2007.
7.
(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. The Company has received approval form the High Court in
respect of the above mentioned reduction in equity capital and the same
has been filed with the Registrar of Companies. The impact of the same
will be given in the subsequent quarters. 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. Accordingly the revised scheme is
being considered by Financial institutions and Banks.
(b) ASREC (India) Ltd. (Agency appointed by UTI for recovery of
its dues) 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 accounts. In view of the fire incident on October 24, 2006, the
Company has requested ASREC (India) Ltd. for further time for repayment
of amount payable under the above settlement.
8.
During the current quarter the Company has carried
out an Actuarial Valuation of gratuity and earned leaves as per the
Revised Accounting Standard 15 issued by The Institute of Chartered
Accountants of India as also because of reduction in employees strength
resulting into excess provision amounting to Rs.19.31lacs. Which has
been written back and shown under Other Income
9.
The Company is primarily engaged in one segment i.e.
EPDM rubber.
10.
There were no investors’ complaints pending at the
beginning and at the end of the quarter. During the quarter 101
complaints were received and were disposed of.
11.
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.
12. The Previous period
figures have been regrouped and rearranged wherever necessary.
Quarterly and 12 Months results are not comparable with the figures of
corresponding periods of the previous year due to stoppage of
production since October 24, 2006 on account of fire.
By Order of the
Board
For UNIMERS INDIA
LIMITED
WHOLE TIME DIRECTOR
Mumbai
JULY 24 , 2007
|
|
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST
MARCH-2007
|
Rs.in lakhs
|
|
Sr
No
|
PARTICULARS
|
NINE
MONTHS ENDED
|
QUARTER ENDED
|
YEAR ENDED
|
|
|
|
31 st Dec-06
|
31 st MAR-07
|
31 st MAR-06
|
31 st Mar-07
|
31 st Mar-06
|
|
1.
|
Sales / Income from operatons
(Gross)
|
4,876.04
|
1.18
|
1,947.31
|
4,877.22
|
6,237.59
|
|
|
Less:Excise
Duty
|
601.14
|
-
|
201.07
|
601.14
|
766.92
|
|
2.
|
Other
Income
|
25.14
|
447.26
|
68.39
|
472.40
|
116.91
|
|
3.
|
Total
Income
|
4,300.03
|
448.44
|
1,814.63
|
4,748.48
|
5,587.58
|
|
4.
|
Expenditure
|
|
|
|
|
|
|
|
a)
(Increase)/decrease in stock in trade
|
(190.79)
|
449.20
|
334.16
|
258.41
|
(97.14)
|
|
|
b)
Consumption of raw materials
|
3,050.01
|
2.50
|
930.22
|
3,052.51
|
3,318.71
|
| | | |
