Audited Financial Results for the year ended 31st March 2000
Particulars
Audited results for Year ended
Audited results for Year ended
31 st March, 2000
31 st March, 1999
Net Sales/Income from operations
2298.9
2365.9
Other Income
320.1
85.1
Total Expenditure
1934.0
1951.4
Interest
151.6
79.1
Depreciation
222.9
210.3
Profit before tax
310.4
210.2
Provision for Taxation
59.9
21.0
Net Profit
250.5
189.2
Paid-up Equity Share Capital
3551.4
3715.1
Reserves excluding revaluation reserves
12655.6
12310.9
EPS for the period and for the previous year ( Rs.)
0.71
0.51
The above results were taken on record by the Board of Directors of the Company on 30th June, 2000
Projections of profitability as per the Prospectus dated 12th January, 1995 and actual performance as on 31st March, 2000 is given below :
a. Existing operations: Against the projected turnover of Rs. 4670 Million the company has achieved a turnover of Rs.2298.9 Million. The profit before tax during the year is Rs.310.4 Million as against the projected profit after tax of Rs. 1320.0 Million. The lower income / profit is mainly due to the reduced activities in the offshore construction business.
b. Refinery Project: :Since the refinery is not yet commissioned, projected financials in the Prospectus for the refinery operations could not be compared. The Refinery Project is expected to go on stream in the last quarter of 2001.
CORPORATE
