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E.I.D.- Parry (India) Limited declares
un-audited Financial Results (Provisional) for the 3 Quarters ended
December 31, 2005
19 January, 2006: The turnover
of E.I.D.- Parry (India) Limited for the quarter ended 31st December,
2005 stood at Rs.223.04 crore (Rs.189.17 crore). The Profit before
tax was Rs.38.22 crore, including Rs.22.85 crore representing profit
on sale of share (Rs.20.75 crore). The Profit after Tax for the
current quarter was Rs.32.44 crore (Rs. 17.80 crore).
For the nine months period
ended 31st December 2005
The turnover of E.I.D.- Parry (India) Limited for the 9 months period
ended 31st December 2005 stood at Rs.624.09 crore as against Rs.482.87
crore, for the corresponding period ending 31st December 2004, resulting
in a top line growth of over 29 per cent. The Profit before Tax
for the period at Rs.92.31 crore (Rs.83.38 crore) is after absorbing
interest cost of Rs.6.47 crore (Rs.2.64 crore) and depreciation
of Rs.22.36 crore (Rs.20.93 crore). After providing for the current
tax of Rs.12.10 crore (Rs.12.00 crore), deferred tax of Rs.6.85
crore (Rs.3.66 crore) and fringe benefit tax of Rs.1.20 crore, the
Profit after Tax for the 9 months period was Rs.72.16 crore (Rs.67.72
crore).
Sugar
The Sugar division of the Company recorded a top line growth of
over 17 per cent for the reporting quarter over the corresponding
period. The branded sugar "Parrys Pure" is getting well
accepted both at the retail and institutional level. With lower
than estimated sugar production for the current sugar year (Oct
05 -Sep 06) coupled with high international prices the sugar industry
and the Company are expected to register good performance in the
coming quarters.
Parryware
Parryware business continues to record robust growth with over 30
per cent improvement in top line over the corresponding quarter
of previous year. Focus on institutional segment and new products
aided the top line growth. With the growth momentum in the construction
industry continuing the division is well positioned to exploit the
opportunities resulting in good performance in the period ahead.
Bio-products
The Bio-products division reported a topline growth of 8 per cent
as compared to the corresponding quarter of the previous year. The
aggressive promotion of AbdA and Neemazal T/S in the domestic market
aided the divisions positive growth. With both the domestic and
the international markets providing opportunity for organic products
the division is expected to continue its positive growth in the
fourth quarter too.
Projects
The Cogeneration power projects at the Company's sugar facilities
at Pudukottai and Pugalur, setting up of a Greenfield sanitaryware
factory at Perundurai and the acquisition of the assets of New Horizon
Sugar Mills Limited, Pondicherry are progressing well.
Transfer of Parryware Business
Consequent to the approval accorded by the shareholders by the process
of postal ballot, the Parryware business of the Company will be
transferred to Parryware Glamourooms Private Limited (100 per cent
subsidiary of the company) as a going concern basis at book value
with effect from 1st March 2006.
About Us
Murugappa Group, a USD 1.5 Billion conglomerate, is one of India's
largest family-promoted, professionally managed corporate with over
28,000 employees. A pioneer and market leader in several fields
with over 40 manufacturing operations across 12 states in India,
the group has a strong presence in farm inputs, engineering and
cycles, sugar, abrasives, finance, general insurance, sanitaryware,
plantations, bio-products and nutraceuticals.
Contact Information
Mr. D. Kumaraswamy
Chief Financial Officer
E.I.D.- Parry (India) Limited
Dare House, 234 NSC Bose Road
Chennai - 600 001:
Tel: +44 - 2534 0723
Email: KumaraswamyD@parry.murugappa.com
Website: www.eidparry.com
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