Historicals

(amt in lakhs) Consolidated

FY 3/01 FY 3/02 FY 3/03 FY 3/04 FY 3/05
Sales 3,405.27 3,543.07 3,598.57 4,200.31 6,433.59
Less : Excise duty 553.50 354.06 128.99 260.42 390.66
Net sales 2,851.77 3,189.01 3,469.58 3,939.89 6,042.93
Service income - 33.66 3.15 3.75 3.04
Total revenue 2,851.77 3,222.66 3,472.73 3,943.64 6,045.97
Total sales growth 13.0% 7.8% 13.6% 53.3%

Other income 64.28 40.18 35.01 68.40 78.28

Dividend - non-trade 0.23 0.31 0.29 0.40 0.19
Dividend - trade and long term investment - - - - 7.70
Current investment - dividend 1.64
Profit on sale of current investment -
Dividend from subsidiary companies
Mirasu marketing limited 22.98 14.00 - - -
Fern Exports Private limited 4.85 4.85 5.56 6.77 -
Interest received 4.95 6.98 2.28
Interest on bank deposits 6.16 1.29
Interest on long term investments 0.04 0.02
Interest on others 1.14 2.48
FOREX difference 0.22 0.26 - - -
Insurance claim received - 1.18 - 1.25
Octroi refund 21.04 - - -
Rent 19.20 19.20
Miscellaneous income 10.01 12.60 7.68 33.44 64.94

Material consumed & purchase of goods 1,522.60 1,806.85 2,024.83 2,238.59 953.91
Raw material
Opening stock 41.86 43.81 40.36 74.29 113.17
Purchases 229.78 132.59 184.80 212.57 874.05
Closing stock 43.81 40.36 74.29 73.76 91.94
Raw material consumed 227.83 136.05 150.87 213.10 895.28
Packing material
Opening stock 45.53 39.30 39.37 35.92 7.63
Purchases 438.20 302.99 318.80 377.91 41.96
Closing stock 39.30 39.37 35.92 47.04 4.60
Packing material consumed 444.43 302.92 322.25 366.79 45.00
Consumables 12.04 9.33 11.08 15.23 13.63
Purchase of goods 838.30 1,358.55 1,540.63 1,643.47

Increase in stock of work in progress & finished goods (12.25) (26.90) (30.92) (9.01) 36.96
Opening stock
Work in progress 19.30 10.13 18.38 7.47 11.34
Finished goods 82.26 103.69 82.01 123.84 255.68
Less : Prior period adjustments - 42.99 - -
101.57 70.83 100.39 131.31 267.02
Closing stock
Work in progress 10.13 18.38 7.47 11.34 11.29
Finished goods 103.69 79.35 123.84 128.98 218.77
113.82 97.73 131.31 140.32 230.06
Manufacturing expenses 54.12 44.78 48.56 52.28 59.67
Labor charges 36.45 27.43 29.84 32.45 35.86
Power, fuel and water charges 15.30 16.67 17.04 16.81 22.61
Repairs and maintenance - plant and machinery 2.37 0.69 1.68 3.02 1.20

Personnel cost 54.12 44.78 319.03 394.76 604.13

Salary, wages, bonus, gratuity & leave encashments 36.45 27.43 258.24 297.08 521.80
Gratuity 6.09 11.74
SEVA incentive 60.15 18.42
Contribution to PF & welfare funds 15.30 16.67 24.78 25.28 44.26
Staff welfare expenses 2.37 0.69 36.01 6.16 7.91

Administrative, selling & other expenses 669.76 828.62 774.23 594.77 1,709.64
Rent 3.75 23.43 11.29 4.25 24.75
Rates and taxes 0.70 0.94 1.17 20.60 41.87
Repairs & maintenance - Buildings 0.44 1.28 0.06 3.45 8.37
Repairs & maintenance - Others 4.52 8.48 10.34 11.13 31.29
Insurance 5.72 6.06 6.27 11.54 15.01
Printing and stationery 8.44 14.51 10.33 - 18.18
Telephone, postage and telegrams 17.37 23.95 24.63 - 34.22
Travelling, conveyance and vehicle expenses 126.37 136.80 130.60 124.68 225.04
Legal and professional charges 10.14 38.91 35.77 36.64 76.00
Auditors remunerations 1.40 2.16 2.58 2.95 6.41
Bank charges & commission 6.44
Directors sitting fees 0.18 0.18 0.20 - 1.55
Expired stock written off 30.02 26.91 94.21 62.90 15.50
Provision for expiry stock -
Freight, transportation and octroi 57.79 32.35 35.90 43.04 58.39
Commission charges on sales 23.62 49.01 46.85 49.67 -
To sole selling agent 56.82
To others -
Excise duty 0.51
Interest on trade deposits from customers and CFA 6.83
Sales tax - 14.15 11.36 - -
FOREX difference - - - 11.69 0.69
Warehousing and distribution cost 165.70
Bad debts - 6.03 - 5.32 1.79
Provision for doubtful debts - 1.22 - 13.24 -
Advertisement and publicity 345.58 338.35 141.58 101.59 878.31
Loss on sale of assets 2.63 5.20 20.11 6.49 2.34
Loss on sale of investment - - 161.13 - 2.06
Stock write offs - - - - -
Fixed assets written off - 41.20 2.21 4.93 -
Diminution of value of fixed assets - - - 17.18 -
Miscellaneous expenses 31.08 57.49 27.64 63.48 31.57

Depreciation 82.05 51.10 72.84 58.78

Amortization / expenses written off 83.17 75.69 7.33 6.31 24.85
 Deferred revenue expenses written off 75.84 68.36 - - -
Amortization of public issue expenses 6.33 6.33 6.33 5.31 0.10
Goodwill written off - - - - 24.74
Amortisation of technical knowhow fees 1.00 1.00 1.00 1.00 -

Interest and financial charges 208.10 189.98 171.10 64.57 24.58

Debenture and other financial charges 97.04 75.18 87.48 61.32 18.83
Other - including bank charges 111.06 114.80 83.62 3.25 5.75

Tax 2.00 (182.93) 161.76 210.74 289.82

Current tax 2.00 - 6.00 218.00 269.00
Deferred tax - (182.93) 155.76 (7.26) 20.82

Outstanding shares 30.11 30.06 30.06 30.06 30.07

Total assets 2,814.28 3,074.83 2,710.86 2,585.73 2,789.63

Misc expenditure 100.23 13.63 6.31 - -
Debit balance in P & L A/C - 297.70 343.48 - -
Goodwill - 3.86 2.19 0.52 -
Cash 47.51 52.75 45.67 223.44 86.33
Cash equivalents in investments 5.40 5.46 5.33 4.96 4.99
Operating assets 2,661.14 2,701.43 2,307.88 2,356.81 2,698.31

Fixed assets excl goodwill (net block) 867.82 944.06 860.90 945.02 1,237.04
Current assets excl cash #REF! 1,240.99 1,100.09 1,064.90 969.06
Current liabilities excl debt 587.35 758.64 733.36 789.60 1,133.34
Capital invested #REF! 1,426.41 1,227.63 1,220.32 1,072.76

Shareholders equity 1,000.62 938.46 938.46 976.96 1,317.73

Share capital 301.12 300.86 300.86 300.86 300.91
Reserves and surplus 699.50 637.60 637.60 676.10 1,016.82

Debt 1,226.82 1,495.53 1,001.04 787.40 287.01

Secured loans 991.96 1,257.33 753.69 528.29 -
Debentures 450.00 500.00 344.00 126.00 -
Loans and advances from banks
Term loans 119.52 135.88 88.86 18.27 -
Cash credit facilities 422.45 621.44 320.83 - -
Foreign currency denominated loan 384.02 -
Unsecured loans 234.86 238.21 247.35 259.11 287.01
Sales tax incentive under package scheme of incentives,
234.861988 238.21 247.35 259.11 287.01

Fixed assets 867.82 947.92 863.09 945.54 1,237.04

 Goodwill - 3.86 2.19 0.52 -
Brands 333.42 - 3.19 2.05 0.90
Tenancy rights - 65.21 58.21 36.49 30.96
Free hold land 21.31 21.31 21.31 0.71 68.28
Lease hold land 6.53 6.46 6.40 6.30 6.23
Buildings 155.94 453.25 443.02 571.19 558.68
Plant and machinery 238.67 221.68 162.21 144.58 136.07
Electrical Installations - - 16.40 15.22 13.81
Moulds - - 1.90 5.57 7.13
Computers and equipments 22.38 42.30 33.93 25.56 17.55
Furniture and fittings 23.33 52.08 43.33 33.17 30.09
Development of property 12.18 0.78 0.75 - -
Vehicles 42.62 80.99 70.25 66.22 49.81
Work in progress 11.43 - - 37.96 317.53

Investments 357.76 521.84 352.22 351.85 497.20

Government securities - NSC 0.32 0.37 0.63 0.26 0.29
Invesment in subsidiaries
Fern exports p ltd 0.51 4.51 4.51 4.51 4.51
Mirasu marketing ltd - equity 251.25 251.25 251.25 251.25 251.25
Mirasu marketing ltd - preference 100.00 90.00 90.00 90.00 90.00
Trade investment in companies under same management
Pentagon manufacturing & marketing P ltd - equity - 120.00 - - -
Pentagon manufacturing & marketing P ltd - preference - 50.00 - - -
Other non trade investment in equity shares
The north kanara GSB co-op bank ltd 0.50 0.50 1.00 1.00 1.00
The saraswat co-op bank ltd 0.10 0.10 0.10 0.10 0.10
The Rupee co-op bank ltd - 0.03 0.03 0.03 0.03
Quoted
Colgate Palmolive india ltd 0.45 0.45 0.45 0.45 0.45
Godrej industries ltd 0.13 0.13 0.13 0.13 0.13
Godrej consumer products ltd 0.09 0.09 0.09 0.09 0.09
Hindustan lever ltd 1.91 1.91 1.91 1.91 1.91
Indusind bank ltd 0.72 0.72 0.72 0.72 0.72
P & G Hygiene & health care ltd 0.71 0.71 0.71 0.71 0.71
Reckit Benckiser (india) ltd 0.38 0.38 - - -
Trent ltd 0.69 0.69 0.69 0.69 0.69
Current investment, unquoted, non trade
Franklin Templeton Mutual Fund - - - - 50.00
LIC Mutual Fund - - - - 65.00
HDFC Balance Fund - - - - -
UTI Fixed Maturity Plan
Reliance Growth Fund
DSP Merrill Lynch Mutual Fund - - - - 30.32

Aggreate value of quoted investments 5.08 5.08 4.70 4.70 4.70

Investment in Government securities & MFs 0.32 0.37 0.63 0.26 145.61
Cash equivalents in investments 5.40 5.46 5.33 4.96 150.31

Inventories 231.06 177.46 241.51 261.12 231.58

Raw materials 43.81 40.36 74.29 73.76 41.97
Packing materials 39.30 39.37 35.92 47.04 54.56
 Work in progress 10.13 18.38 7.46 11.34 11.29
Finished goods 103.69 79.35 123.84 128.98 123.76
Software stock in progress 34.13 - - - -

Sundy debtors 960.69 960.27 744.32 541.71 363.38

Over six months 87.68 12.41 27.15 22.63 7.45
Considered good 8.17 3.12
Considered doubtful 14.46 4.33
Other debt 873.01 949.08 718.39 533.54 360.26
Other debt - considered good 873.01 949.08 718.39 533.54 360.26
Other debt - considered doubtful
Less : Provision for doubtful debts - 1.22 1.22 14.46 4.33

Cash and bank 47.51 52.75 45.67 223.44 86.33

Loans and advances 249.21 103.25 114.26 262.07 374.10

Advances recoverable in cash or in kind 246.55 102.61 109.88 250.95 365.42
others 2.40 1.69
Loans and advances to staff
Advance income tax
Balances with customs, port trust, etc 2.66 0.64 4.38 8.72 6.99

Current liabilities 536.73 683.09 642.88 392.63 775.19

Acceptances 77.02 83.63 37.26 52.91 76.86
Sundry creditors
SSI 42.10 136.49 285.76 113.54 234.30
Subsidiary companies - - - - 0.87
Others 326.81 347.35 149.99 91.05 180.26
Unclaimed dividend 1.76 1.73 1.72 1.37 2.62
Advance from customers 3.44 8.11 32.67 7.21 1.50
Trade deposits 46.50 48.70 62.55 60.55 62.70
Other liabilities 39.10 57.08 72.93 66.00 216.08

Provisions 50.62 75.55 90.48 396.97 358.15

Gratuity 2.10 3.93 4.70 5.28 -
Wealth tax
Bonus and ex gratia 16.07 17.23 16.33 10.92 -
Leave encashments 7.62 11.07 12.65 13.64 -
Taxation 2.00 2.00 6.00 224.00 269.00
Employee benefits - - - - -
SEVA provision - - - 39.06 -
Provision for expired stock claim - - - 25.49 -
Proposed dividend - - - - 89.15
Others 22.84 41.32 50.80 78.58 -

Misc exp 100.23 13.63 6.31 - -

CASH FLOW
Net profit before tax and extraordinary items 47.04 (34.08) 120.76 610.99 804.34
Adjustments
Depreciation 82.05 51.10 72.84 58.78 57.94
Loss on sale of assets 2.63 5.20 20.11 6.49 4.77
Assets discarded - 41.20 2.21 4.93 (2.44)
Brands written off - 333.42 - - -
Loss on sale of investment - - - - 0.69
Provision for contingencies - 1.93 - - -
Diminution of value of Fixed Assets - - - 17.18 -
Interest and financial charges 208.10 189.98 171.10 64.57 23.84
Misc exp - 0.10 - - -
Provision for sale tax under the deferral scheme - 3.35 9.14 11.76 27.90
Provision for doubtful debts 13.24 (10.13)
Provision for expired stock claims 13.20 -
Misc exp written off 40.61 86.60 7.33 6.31 -
Unrealised Foreign exchange loss 12.02 -
Interest income (4.95) (6.98) (2.28) (7.34) (3.63)
Rent income (19.20) (19.20) (9.60)
Dividend income (28.05) (19.16) (5.86) (7.17) (12.41)
(A) 347.44 652.67 376.15 785.76 881.27
Changes in working capital
Loan and advances 43.63 66.59 (11.07) 42.38 177.20
Sundry debtors (85.71) (169.58) 215.95 189.37 188.46
Inventories (42.10) 53.60 (64.04) (19.61) 29.53
Liabilities and provisions 110.18 169.35 (22.28) (174.97) (14.41)
(B) 26.00 119.95 118.56 37.17 380.78
Cash from operation (A) + (B) 373.44 772.63 494.71 822.93 1,262.05
Income tax paid (4.65) - (9.00) (190.19) (289.23)
Prior period items (5.10) (443.16) (4.76) (0.86) (0.24)
Cash from operating activities 363.69 329.46 480.95 631.88 972.58

Purchase of fixed assets (67.87) (422.58) (30.50) (204.34) (357.24)

Proceeds from sale of fixed assets 1.24 9.47 20.18 17.10 5.46
Net capex (66.63) (413.12) (10.32) (187.24) (351.78)
Purchase of investments (1.25) (4.06) 169.68 - -
Proceeds from redemption of preference shares - 10.00 - - -
Proceeds from sale of investment - - - 0.37 (146.04)
Interest received 4.92 6.33 2.28 7.34 3.63
Rent received 19.20 19.20 9.60
Dividend received 9.20 19.16 5.86 7.17 12.41
Cash from investing activities (53.75) (381.68) 186.70 (153.16) (472.18)

Proceeds from long-term borrowings - 110.55 11.50 375.66 -

Proceeds from short term borrowings 75.00 201.91 320.84 - -
Repayment of long-term borrowings (44.09) (44.20) (214.53) (612.04) (529.32)
Repayment of short term borrowings (136.96) (3.13) (621.44) - -
Interest and financial charges paid (208.10) (207.67) (171.10) (64.57) (23.84)
Proceeds from issue of forfeiture shares - - - - 0.44
Dividend & DDT paid - - - - (84.79)
Cash from finaning activities (314.16) 57.46 (674.73) (300.95) (637.51)

Opening cash 51.74 47.51 52.75 45.67 223.44

Cash generated (4.23) 5.24 (7.08) 177.77 (137.11)
Closing cash 47.51 52.75 45.67 223.44 86.33

SEGMENT
REVENUE
Consumer products 2,320.60 2,657.37 2,828.90 3,182.33
Growth 14.5% 6.5% 12.5%
% on total sales 72.0% 76.5% 71.7% 70.9%
Pharma 767.75 636.10 818.95 783.72
Growth -17.1% 28.7% -4.3%
% on total sales 23.8% 18.3% 20.8% 17.5%
Others 134.31 179.26 295.79 525.09
Growth 33.5% 65.0% 77.5%
% on total sales 4.2% 5.2% 7.5% 11.7%
Total sales 3,222.66 3,472.73 3,943.64 4,491.14
Total growth 7.8% 13.6% 13.9%
- - - (1,554.83)
EBITDA
Consumer products 318.09 403.91 720.14 845.48
Growth 27.0% 78.3% 17.4%
Margin 13.7% 15.2% 25.5% 26.6%
Pharma (47.41) (42.09) (20.70) (6.13)
Growth -11.2% -50.8% -70.4%
Margin -6.2% -6.6% -2.5% -0.8%
Others (6.88) (24.82) 35.92 50.04
Growth 260.7% -244.7% 39.3%
Margin -5.1% -13.8% 12.1% 9.5%
Corporate overheads (96.97) (7.33) (69.42) (67.88)
Total 166.83 329.67 665.94 821.51
Total growth 97.6% 102.0% 23.4%
Total margin 5.2% 9.5% 16.9% 18.3%
- - - -
EBIT
Consumer products 278.13 342.00 688.11 813.24
Growth 23.0% 101.2% 18.2%
Margin 12.0% 12.9% 24.3% 25.6%
Pharma (52.89) (45.65) (24.18) (8.56)
Growth -13.7% -47.0% -64.6%
Margin -6.9% -7.2% -3.0% -1.1%
Others (12.54) (32.19) 28.90 42.82
Growth 156.6% -189.8% 48.2%
Margin -9.3% -18.0% 9.8% 8.2%
Corporate overheads (96.97) (7.33) (85.67) (83.93)
Total 115.73 256.83 607.16 763.57
Total growth 121.9% 136.4% 25.8%
Total margin 3.6% 7.4% 15.4% 17.0%

Depreciation
Consumer products 39.96 61.91 32.03 32.24
Pharma 5.48 3.56 3.48 2.43
Others 5.66 7.37 7.02 7.22
Corporate assets - - 16.25 16.05
Total 51.10 72.84 58.78 57.94

Capex
Consumer products 480.33 27.35 18.29 8.06
Pharma 17.36 0.32 1.19 0.13
Others 34.24 2.84 6.29 1.91
Corporate assets - - 140.62 67.57
Total 531.93 30.51 166.39 77.67

Assets
Consumer products 1,770.85 1,621.66 1,087.58 774.35
Pharma 332.03 242.11 263.46 190.75
Others 138.77 145.08 155.51 195.68
Corporate assets 521.84 352.22 1,079.18 1,651.26
Total 2,763.50 2,361.07 2,585.73 2,812.04

Liabilities
Consumer products 559.67 493.60 311.32 388.23
Pharma 193.13 222.28 186.55 266.52
Others 5.83 17.48 17.43 40.81
Corporate liabilities 1,377.74 1,039.04 2,070.42 798.75
Total 2,136.38 1,772.40 2,585.72 1,494.31
Consolidated
FY 3/06 FY 3/07 FY 3/08
7,449.88
414.04
7,035.84 - -
1.97
7,037.81 - -
16.4% -100.0% #DIV/0!

115.75 - -
0.16
23.71
0.91
6.67

0.80
-
3.15

80.35

885.24

91.94
907.71
181.73
817.92

4.60
47.66
3.77
48.49
18.84

(133.03)

11.29
218.77
6.02
224.04

10.72
346.34
357.06
 61.21
36.93
21.82 245,692.00 2.46
2.46

718.28
598.20
7.69
44.58
54.87
12.93

2,280.44
30.15
32.83
0.37
29.84
25.01
18.02
46.74
262.71
82.58
13.33
5.99
1.62
25.62
41.60
149.76

63.61
8.87
19.46
-
-
-
146.11
-
54.82
1,155.44
1.68
-
-
-
-
64.28

24.74
 -
-
24.74
-

24.88 985,546.00 9.86

12.16 222,591.00 2.23
12.72 674,785.00 6.75
575,427.00 5.75

30.08

1,983.30 - -
1,249.86 - -
1,923.86 - -
1,309.30 - -

1,404.03 - -
300.96
1,103.08

303.35
-
-

-
-
-
303.35
303.35

1,983.30
 -
43.51
32.23
96.61
6.15
528.03
129.76
26.66
9.63
26.24
33.20
-
42.53
1,008.75

256.59
0.44

-
-
-

-
-

1.00
0.10
0.03

0.45
0.13
0.09
1.91
0.72
0.71
-
0.69

50.00
-
150.00
30.32
20.00
-

12.78
250.76
263.54

541.73
181.73
3.77
 10.72
345.52
-

404.63
60.60

403.18

59.15

323.13

303.50
142.34
-
7.40
153.43
0.33

1,283.48
133.15

408.47
-
390.86
3.66
44.42
141.24
161.67

640.38
8.47
1.38
21.21
42.37
179.19
73.50
-
41.60
272.66
-

-
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