Chennai, July 21, 2009: The unaudited financial results for the first quarter ended June 30, 2009 were approved by the Board of Directors at its meeting held on July 21, 2009.
Sales turnover during this period is Rs 1587.98 crore, as against Rs.1400.39 crore in the corresponding period last year.
The gross profit before depreciation, interest and taxes for the three months period is Rs.107.64 crore as against Rs.175.74 crore during the same period last year; depreciation provided is Rs.14.04 crore (corresponding period last year Rs.12.42 crore), interest charged Rs.17.45 crore (Corresponding period last year Rs.15.55 crore). Profit Before Tax for the quarter is Rs.76.15 crore as compared to Rs 306.36 crore in the corresponding period last year which included an exceptional income of Rs.158.59 crore received from M/s Foskor Ltd, South Africa under Business Assistance Agreement.
Provision for taxation for the period works out to Rs.24.00 crore (Corresponding period last year Rs.112.50 crore). The net profit is Rs.52.15 crore as against Rs.193.86 crore during the corresponding period last year.
During the quarter, the Company signed a Joint Venture Agreement with M/s Soquimich European Holdings BV, Netherlands, a subsidiary of SQM, Chile, for setting up of 15000 MTPA Water Soluble Fertilisers (NPK Grades) plant at Kakinada at a total investment of Rs.100 Million.
A copy of the advise to the Stock Exchanges giving the highlights of the un-audited financial results approved by the Board of Directors of the Company on July 21, 2009 is attached.
About the Murugappa Group
Headquartered in Chennai, the Rs. 15,646 crores (USD 3 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 DBS Bank, Mitsui Sumitomo, Cargill, Foskor and Groupe Chimique Tunisien has consolidated its status as one of the fastest growing diversified business houses in India.
Caution Notice
The public is hereby cautioned that it has been brought to our notice that certain unscrupulous persons/agencies are issuing fake sanction letters to customers and getting their signatures in fake loan agreements purporting to be a loan sanction letter & loan agreement of Murugappa Group and such persons /agencies are attempting to extort money by demanding security deposit/processing fee/insurance fee from the gullible customers for processing the required loan etc. In the aforesaid documents, those unscrupulous persons/agencies are also using the registered logo and name of Murugappa Group against law with intent to gain wrongfully by using the goodwill and reputation of the Group.
Please be informed that Murugappa Group is not a separate legal entity and never requires any customers to pay any advance money or deposit for loan sanctioning. Public is cautioned not to rely or act on any such fraudulent sanction/offer made in the name of Murugappa Group without verifying the authenticity of the contents.
Customers who are interested in availing loans may directly contact any of the nearest branch of Cholamandalam Investment and Finance Company Limited (Cholamandalam) a constituent of our group for further details or get in touch with us at 1800 200 4565 or alternatively email at customercare@chola.murugappa.com, or SMS at 9500000312.
MURUGAPPA GROUP