Q 3 Results
October 18 2007 - 7:06AM
UK Regulatory
RNS Number:9492F
ACC Limited
18 October 2007
ACC LIMITED
Registered Office : Cement House,
121, Maharshi Karve Road, Mumbai - 400 020
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2007.
PROFIT AFTER TAX FOR Q-3 2007 UP BY
30% AT Rs.292.42 CRORE
SALES VALUE FOR Q-3 2007 UP BY 22 %
I. The following unaudited accounts of the quarter ended September 30, 2007 which have been subjected to a limited
review by the auditors have been reviewed by the audit committee and have been approved by the Board of Directors
of the Company at its meeting held on October 18, 2007. The text of this statement was also taken on record.
II STANDALONE RESULTS
QUARTER QUARTER NINE MONTHS NINE MONTHS YEAR ENDED
ENDED ENDED ENDED ENDED
30-09- 2007 30-09- 2006 30-09- 2007 30-09- 2006 31-12-2006
UNAUDITED UNAUDITED UNAUDITED UNAUDITED AUDITED
Rs. Crore Rs. Crore Rs. Crore Rs. Crore Rs. Crore
1 SALES / INCOME FROM OPERATIONS 1877.20 1516.18 5841.41 4673.28 6453.07
LESS: EXCISE DUTY RECOVERED 198.42 138.43 619.85 488.35 649.59
NET SALES / INCOME FROM 1678.78 1377.75 5221.56 4184.93 5803.48
OPERATIONS
2 OTHER INCOME
i) Dividend 6.91 5.07 29.76 19.18 26.00
ii) Gain/(Loss) on foreign exchange 1.27 0.21 8.16 (3.48) 1.60
(Net)
iii) Other items 20.24 17.23 47.19 56.39 90.26
iv) Profit on sale of investments - - - - 13.62
3 TOTAL INCOME (1+2) 1707.20 1400.26 5306.67 4257.02 5934.96
4 EXPENDITURE
a) (Increase) /Decrease in stock in (33.07) 24.93 10.80 39.75 32.62
trade and work in progress
b) Consumption of Raw materials 193.22 158.83 579.43 492.73 677.07
c) Purchase of traded Cement & Other 22.80 13.89 64.06 39.61 53.42
Products
d) Employee cost 97.74 70.19 273.21 212.63 318.02
e) Power & Fuel 326.51 223.05 876.12 706.58 972.66
f) Outward Freight charges on Cement 216.42 193.90 728.03 599.74 818.84
etc.
g) Excise Duties (Net) 41.93 15.83 107.29 58.93 86.50
h) Depreciation 70.70 59.28 196.16 177.15 254.25
i) Other Expenditure 364.66 312.55 1082.51 878.91 1221.13
Total Expenditure 1300.91 1072.45 3917.61 3206.03 4434.51
5 Interest (Net) (0.86) 13.81 0.86 47.92 52.03
6 EXCEPTIONAL ITEMS
a) Profit on sale of land and
undertakings - (0.11) - (147.90) (162.31)
b) (Write-back)/Provision of
contingencies - - - - (0.50)
c) Profit from divestment of erstwhile
subsidiaries/associates (3.89) - (23.85) (7.93) (8.27)
7 Profit from ordinary activities before 411.04 314.11 1412.05 1158.90 1619.50
tax (3) - (4+5+6)
8 Tax Expenses ( including Fringe Benefit 118.62 89.30 404.64 285.43 387.66
Tax)
9 Net Profit for the period (7-8) 292.42 224.81 1007.41 873.47 1231.84
-2-
QUARTER QUARTER NINE MONTHS NINE MONTHS YEAR ENDED
ENDED ENDED ENDED ENDED
30-09- 2007 30-09- 2006 30-09- 2007 30-09- 2006 31-12-2006
UNAUDITED UNAUDITED UNAUDITED UNAUDITED AUDITED
Rs. Crore Rs. Crore Rs. Crore Rs. Crore Rs. Crore
10 Paid-up Equity Share Capital 187.74 187.39 187.74 187.39 187.48
( Face value per share Rs.10 )
11 Reserves excluding Revaluation Reserves
as per balance sheet of previous - - - - 2955.16
accounting year
12 Basic Earnings per Share 15.60 12.06 53.77 46.86 66.02
Rs.
Diluted Earnings per Share 15.54 11.96 53.55 46.47 65.52
Rs.
( EPS for quarter and nine months not
annualised )
13 Public shareholding
Number of Shares 10,69,07,040 12,11,70,067 10,69,07,040 12,11,70,067 12,14,40,580
Percentage of Shareholding 57.01% 64.79% 57.01% 64.79% 64.85%
Notes:
1) During the quarter, the company commissioned its 9 MW Wind farm in Tamil Nadu & 25 MW TG set at
its Kymore plant.
2) During the quarter the Company has sold its entire investment in its wholly owned subsidiary, ACC Nihon Castings
Limited and assigned its receivables therein, for a total consideration of Rs 30 crore which resulted in profit of
Rs 3.89 crore as disclosed under exceptional item 6(c).
3) During the quarter the paid up Equity Share Capital of the Company increased by Rs.0.11 crore on account of
allotment of 1,08,749 shares consequent to the exercise of conversion option by Bondholders on 900 Foreign
Currency Convertible Bonds of an aggregate value of Rs. 3.99 crore at a conversion price of Rs.374.42 per share.
4) During the period pursuant to implementation of SAP ERP system certain cost
formulas for inventory valuation have been changed. The impact of these changes
is estimated to be immaterial.
5) During the nine months ended September 30, 2006 an amount of Rs.9.86 crore pertaining to afforestation charges for
acquisition of mining land which was charged to revenue was capitalised during quarter ended December 31,2006.
Accordingly, results for the nine months ended September 30, 2006 and tax thereon have been restated.
6) Provision for tax for the nine months ended September 30, 2006 and year ended
December 31, 2006 includes a charge of Rs.18.66 crore pertaining to prior period.
7) Previous period figures have been regrouped wherever
necessary.
8) At the beginning of the quarter ended September 30, 2007, there were three investor complaints pending. During the
quarter, eighty five complaints were received and seventy seven complaints were resolved. Eleven complaints were
pending disposal as on September 30, 2007.
III -3-
Segment wise Revenue,
Results and Capital
Employed
Quarter Quarter Nine Months Nine Months YEAR ENDED
ended ended ended ended
Particulars 30-09-07 30-09-06 30-09-07 30-09-06 31-12-2006
Unaudited Unaudited Unaudited Unaudited Audited
Rs. Crore Rs. Crore Rs. Crore Rs. Crore Rs. Crore
1 Segment Revenue (net sale / income from
each segment)
a Cement 1619.39 1334.49 5035.61 4045.91 5593.34
b Ready Mix Concrete 87.55 70.76 267.46 223.26 300.44
c Unallocated 0.01 (0.07) 0.23 0.28 0.38
Total 1706.95 1405.18 5303.30 4269.45 5894.16
Less: Inter segment revenue 28.17 27.43 81.74 84.52 90.68
Net sales / income from operations 1678.78 1377.75 5221.56 4184.93 5803.48
2 Segment Results ( Profit) (+)/ Loss (-)
before tax and interest)
a Cement 445.91 367.08 1495.38 1117.54 1594.17
b Ready Mix Concrete (19.79) (33.58) 7.00 2.66
(0.79)
Total 426.12 366.29 1461.80 1124.54 1596.83
Less: i Interest 13.81 0.86 47.92 52.03
(0.86)
ii Other Un-allocable
Expenditure net off
Un-allocable income 19.83 38.48 72.74 73.55 96.38
Total Profit Before Exceptional Items & 407.15 314.00 1388.20 1003.07 1448.42
Tax
Exceptional Items
a Write back / ( Provision) of
contingencies - - - - 0.50
b Profit on sale of land and undertaking
- 0.11 - 147.90 162.31
c Profit from divestment of erstwhile
subsidiaries/ associates 3.89 - 23.85 7.93 8.27
Total Profit Before Tax 411.04 314.11 1412.05 1158.90 1619.50
3 Capital Employed
(Segment Assets - Segment
Liabilities)
a Cement 3371.83 3015.32 3371.83 3015.32 2990.32
b Ready Mix Concrete 69.53 57.75 69.53 57.75 70.57
Sub-total 3441.36 3073.07 3441.36 3073.07 3060.89
Capital work in progress 309.56 439.64 309.56 439.64 473.42
Capital Employed excludes assets and liabilities not
allocable to specific segment & investments.
Notes:
1) The Company has reassessed its operations and revised the segment reporting into two segments- Cement and Ready
Mixed Concrete. Cement business includes consultancy contracts for cement plant operations.
2) Previous period figures have been regrouped wherever
necessary.
Mumbai- October 18, 2007.
( Sumit
Banerjee )
MANAGING DIRECTOR
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTOKFKPDBDDCKD
Acc Gds (Regs) (LSE:AMCD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Acc Gds (Regs) (LSE:AMCD)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Acc Gds (Regs) (London Stock Exchange): 0 recent articles
More Acc Limited News Articles