Audited Financial Results for the Year ended March 31, 2010
Performance for the Quarter ended 31st March, 2010
The turnover of E.I.D.-Parry (India) Limited for the quarter ended 31st March, 2010 was Rs. 320.31 Crores(PY:Rs.225.59 Crores). The Gross Profit from operations for the quarter was Rs.50.46 Crores (Rs. 62.22 Crores) after absorbing depreciation of Rs. 17.88 Crores (Rs. 13.12 Crores). After absorbing interest cost of Rs.8.99 Crores (Rs. 5.48 Crores) and considering Other Income of Rs. 59.07 Crores (Rs. 58.24 Crores) and exceptional income of Rs. 7.98 Crores (0.54 Crores), the Profit Before Tax for the quarter was Rs. 108.52 Crores (Rs.108.18 Crores). The Profit After Tax for the quarter stood at Rs. 104.80 Crores(Rs.93.75 Crores).
The consolidated turnover for the quarter ended 31st March, 2010, was Rs. 1697.80 Crores (Rs. 1112.27 Crores). The Profit After Tax for the quarter stood at Rs. 127.91 Crores(Rs. 92.11 Crores).
Performance for the year 2009-10
The turnover of E.I.D.-Parry (India) Limited for the year ended 31st March, 2010 was Rs.1147.32 Crores(Rs.755.57 Crores). The Gross Profit from operations for the year ended was Rs. 168.64 Crores (Rs. 49.77 Crores) after absorbing depreciation of Rs. 69.33 Crores (Rs. 50.17 Crores). After absorbing interest cost of Rs. 38.57 Crores(Rs. 26.82 Crores) and considering Other Income of Rs. 109.41 Crores (Rs.115.73 Crores) and exceptional income of Rs.7.98 (Rs. 749.72 Crores), the Profit Before Tax for the year ended was Rs.247.46 Crores ( Rs. 888.40 Crores). The Profit After Tax for the year ended stood at Rs. 205.28 Crores (Rs.691.96 Crores).
The consolidated turnover for the year ended 31st March, 2010 was Rs. 7555.66 Crores (Rs.10158.39 Crores). The Profit After Tax for the year ended stood at Rs. 567.20 Crores (Rs 1163.49 Crores).
During the quarter, sugar production was 107926 MT(114941 MT). The company exported 905 Lakh units of Power compared to 680 lakh units for the corresponding period of 2008-09.
The Sugar Segment reported a profit of Rs 43.35 crore for the quarter (Rs. 39.50 crore). The profit from the Cogeneration Segment for the quarter was Rs 8.16 crore(Rs.16.72 crore).
The Bio-products Segment reported a profit of Rs 4.55 crore ( Rs 5 crore).
The Board of Directors are pleased to recommend a final dividend of Rs. 4/- (200%) per equity share of Rs. 2/- each.
About E.I.D. – Parry (India) Limited
E.I.D. Parry is a dominant player in Sugar with interests in promising areas of Bio Pesticides and Nutraceuticals. E.I.D Parry was incorporated in 1975. The company also has a significant presence in Farm Inputs business through its subsidiary, Coromandel International Limited. EID Parry has a 50% stake in Silkroad Sugar Private Limited, a joint venture with Cargill, a strategic 48% stake in US Nutraceuticals LLC,USA and a 76% stake in Sadashiva Sugars Limited.
EID Parry has five sugar factories having a capacity to crush 19000 Tonnes of Cane per day, generate 85 MW of power and two distilleries having a capacity of 135KLPD. In the Bio pesticides business, the Company offers a unique neem extract, Azadirachtin ,having a good demand in the developed countries’ bio pesticide markets. In the Nutraceuticals business, it holds a strong position in the growing wellness segment mainly catering to the world markets with its organic products.
About the Murugappa Group
Headquartered in Chennai, the Rs. 15,907 crores (USD 3.14 billion) Murugappa Group is one of India’s leading business conglomerates. Market leaders in diverse areas of business including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals. Its 29 companies have manufacturing facilities spread across 13 states in India. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. The Group has forged strong joint venture alliances with leading international companies like Mitsui Sumitomo, Foskor, Cargill and Groupe Chimique Tunisien to consolidate its status as one of the fastest growing diversified business houses in India.