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Audited Financial Results f or the quarter ended 31-03-2006                                                                                             ( Rs. In Lakhs )

 Particulars

9 Months ended              31-12-2005

Quarter ended

 Year ended         Audited

Consolidated for the year ended
  31-03-2006 31-03-2005 31-03-2006 31-03-2005 31-03-2006 31-03-2005
1. INCOME FROM SALES & OTHER OPERATIONS 34965.78 15758.87 13927.84 50724.65 47340.47 52207.56 47912.95
    Less Excise Duty 3380.47 1429.37 1338.91 4809.84 4298.70 4811.08 4298.70
    Net Sales 31585.31 14329.50 12588.93 45914.81 43041.77 47396.48 43614.25
2. Other Income 1877.05 488.33 41.81 2365.38 2421.50 2050.71 2423.59
    Total Revenue 33462.36 14817.83 12630.74 48280.19 45463.27 49447.19 46037.84
3. Total Expenditure 29975.80 13879.44 11876.77 43855.24 41632.66 45685.25 42473.50
    a) (Increase)/decrease in Stock in trade (663.21) 64.20 (89.79) (599.01) (178.07) (557.92) (211.54)
    b) Consumption of raw materials,etc., 16767.52 9009.97 6501.49 25777.49 24541.65 26647.98 25305.40
    c) Expenses on Operation Contracts 4848.96 982.67 1740.20 5831.63 4664.99 5831.63 4664.99
    d) Staff Cost 3018.08 1037.67 1126.78 4055.75 4032.18 4268.68 4084.32
    e) Other expenditure 6004.45 2784.93 2598.09 8789.38 8571.91 9494.88 8630.33
4. Interest (Net) 566.94 268.66 156.75 835.60 598.69 871.18 620.06
5. Depreciation 516.52 185.05 191.48 701.57 785.62 777.20 803.63
6. PROFIT BEFORE TAX & Extra -Ordinary Item (1+2-3-4-5) 2403.10 484.68 405.74 2887.78 2446.30 2113.56 2140.65
7. Extraordinary Items 248.59 95.76 63.86 344.35 231.23 344.35 231.23
8.PROFIT BEFORE TAX (6-7) 2154.51 388.92 341.88 2543.43 2215.07 1769.21 1909.42
9. Provision for Current Tax 100.00 35.00 193.00 135.00 308.00 135.03 312.40
10.Provision for Fringe Benefit Tax 58.33 51.50   109.83   111.71  
11.Profit before Deferred Tax (8-9-10) 1996.18 302.42 148.88 2298.60 1907.07 1522.47 1597.02
12.Provision For Deferred Tax 120.00 (100.00) (126.00) 20.00 (96.00) 83.16 (136.82)
13.NET PROFIT AFTER TAX (11-12) 1876.18 402.42 274.88 2278.60 2003.07 1439.31 1733.84
14.Less : Minority Interest (Overseas)           (35.82) (55.84)
15. Profit after Minority Interest           1475.13 1789.68
16.Paid up Equity Share Capital (Face value of Rs.10 each) 1387.17 1387.17 1387.17 1387.17 1387.17 1387.17 1387.17
17.Reserves excluding revaluation Reserves (as per Balance Sheet)       13393.06 12221.67 12413.96 11994.84
18.EPS for the period (not to be annualised)                               - Basic 13.53 2.90 1.98 16.43 14.44 10.63 12.90

                                                                    - Diluted

 13.53 2.86 1.98 16.21 14.44 10.50  
19. Aggregate of Non-Promoter shareholding              
     No. of Shares 7070767     7070767 7070767 7070767 7070767
     Percentage of shareholding 50.97     50.97 50.97 50.97 50.97

 

SEGMENT INFORMATION AS PER CLAUSE 41 OF THE LISTING AGREEMENT FOR THE QUARTER AND YEAR  ENDED 31-03-06
 Particulars 9 Months ended     31-12-2005

Quarter ended

 Year ended                      Audited Consolidated for the year ended
31-03-2006 31-03-2005 31-03-2006 31-03-2005 31-03-2006 31-03-2005
1. Segment Revenue              
     a.  Explosives 15470.85 4809.46 5431.59 20280.31 17687.89 20280.31 17687.89
     b.  Lubricants 16328.84 9657.03 7063.00 25985.87 25126.72 27209.92 25672.06
     c.  Building Products     42.16   259.83   259.83
     d.  Others 39.96 9.32 73.52 49.28 200.85 382.33 245.06
     e.  Unallocable Income 1642.50 350.00   1992.50 2215.18 1992.50 2215.18
    Total 33482.15 14825.81 12610.27 48307.96 45490.47 49865.06 46080.02
    Less: Inter segment revenue 19.79 7.98 (20.47) 27.77 27.20 417.87 42.18
    Income from Sales & other Operations 33462.36 14817.83 12630.74 48280.19 45463.27 49447.19 46037.84
2. Segment Results              
               
    Profit/(loss) (before tax and interest from each segment)              
     a.  Explosives 955.47 (3.53) (67.09) 951.94 (137.49) 951.94 (137.49)
     b.  Lubricants 751.12 693.98 871.09 1445.10 1584.99 1235.20 1340.53
     c.  Building Products     (22.99)   (66.27)   (66.27)
     d.  Others 25.86 (20.47) 1.70 5.39 (9.54) (173.35) (12.94)
    Total 1732.45 669.98 782.71 2402.43 1371.69 2013.79 1123.83
     Less:              
    (i)  Interest paid (net of interest received) 566.94 268.66 156.75 835.60 598.69 871.18 620.06
    (ii) Other un-allocable expenditure net off un - allocable income (989.00) 12.40 284.08 (976.60) (1442.07) (626.60) (1405.65)
    Total Profit Before Tax 2154.51 388.92 341.88 2543.43 2215.07 1769.21 1909.42
3. Capital Employed              
     a.  Explosives 9973.47     9116.87 8917.80 9116.87 8917.80
     b.  Lubricants 5988.74     6001.34 5588.56 6571.94 6947.12
     c.  Building Products                          -   694.58   694.58
     d.  Others 288.00     279.28 296.21 1364.59 249.37
     e.  Unallocable-Corporate 10791.47     9845.46 7330.77 7782.50 6484.76
    Total 27041.68     25242.95 22827.92 24835.90 23293.63

 

 

Notes:

  1. The above results were reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors of the Company held on 24th May 2006. 
  1. Other income includes Rs. 922.79 Lakhs (Previous Year: Rs. 1757.31 Lakhs) being profit on sale of property at Bangalore and sale of development rights in property at Secunderabad.
  1. The Board of the Directors has recommended a dividend of Rs. 7 (70%) per share for the year 2005-06.
  1. Investors complaints: Pending at the beginning of the quarter: 4    Received during the quarter:  7    Cleared during the quarter:  11    Pending complaints: Nil at the end of the quarter.
  1. The Speciality Chemicals Division’s cGMP compliant factory is in the final stages of commissioning. Environmental clearance from the State Government has been received at the end of April, 2006.
  1. The Building Products Division has been transferred to a wholly owned subsidiary of the Company with effect from 1st April 2005.
  1. Utilisation of proceeds from Preferential Allotment of convertible warrants: a) Implementation of projects Rs. 293 Lakhs b) Repayment of Long Term Debt Rs. 150 Lakhs c) General corporate requirements Rs. 62 Lakhs.
  1. Previous period / year figures have been regrouped/recasted wherever necessary.

 

By order of the Board  

For GULF OIL Corporation Limited

 

S Pramanik

Managing Director

Mumbai

24 -05-2006

 
 
 

 

 


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