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Audited Financial Results   


for the year ended 31-03-2003

Particulars 9 months ended
31-12-2002		 Quarter End Year Ended Consolidated
31-3-2003 31-3-2002 31-3-2003 31-3-2002 31-3-2003 31-3-2002
1. Income from Sales & other Operations
27929.59
12605.12
11649.93
40534.71
25250.68
40,610.75
25,310.77
2. Other Income
557.57
155.63
165.75
713.20
368.59
719.01
378.25
3. Total Expenditure
25843.27
12652.31
10941.78
38495.58
23692.82
38,561.29
23,750.57
a) (Increase)/decrease in Stock in trade
(501.93)
278.82
290.01
(223.11)
237.67
-233.89
233.62
b) Consumption of raw materials,etc.,
13411.47
5689.40
5544.65
19100.87
11651.37
19,159.00
11,693.57
c) Staff Cost
3152.43
1197.69
1190.34
4350.12
3872.92
4,339.87
3,862.35
d) Excise Duty
3311.21
1296.14
1309.82
4607.35
2905.89
4,607.35
2,905.89
e) Other expenditure
6470.09
4190.26
2606.96
10660.35
5024.97
10,688.96
5,055.14
4. Interest (Net)
697.71
118.13
157.43
815.84
329.43
816.23
329.72
5. Depreciation
604.66
198.90
237.88
803.56
511.57
811.06
517.97
6. Profit(+)/Loss (-) before tax (1+2-3-4-5)
1341.52
(208.59)
478.59
1132.93
1085.45
1,141.18
1,090.76
7. Extraordinary Items
 
 
 
 
 
 
 
(a) Other write-offs / provisions
-
-
(3.06)
-
(3.06)
0.00
-1.18
(b) Additional Advisory Fees for Sale of Investments
-
-
1.41
-
109.96
0.00
109.96
8. Provision for Taxation
 
 
 
 
 
 
 
- Current Tax
109.00
(7.58)
28.00
101.42
76.00
104.61
79.75
- Deferred Tax (Credit)
260.00
(760.01)
40.00
(500.01)
133.00
-501.58
132.07
9. Net profit(+)/ Loss(-) (6-7-8)
972.52
559.00
412.24
1531.52
769.55
1,538.15
770.16
10.Less : Minority Interest
 
 
 
 
 
0.41
0.47
11. Profit after Minority Interest
 
 
 
 
 
1,537.74
769.69
12.Paid up Equity Share Capital (Face value of Rs.10 each)
1387.17
1387.17
800.17
1387.17
1387.17
1,387.17
1,387.17
13.Reserves excluding revaluation Reserves
 
 
 
10454.43
12943.00
10,444.30
12,926.57
(as per balance sheet)
 
 
 
 
 
 
 
14.Basic and diluted EPS for the
7.01
4.03
3.65
11.04
8.12
11.09
8.13
period (not to be annualised)
 
 
 
 
 
 
 
15. 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 31-03-2003

Particulars 9 months ended
31-12-2002		 Quarter End Year Ended Consolidated
31-3-2003 31-3-2002 31-3-2003 31-3-2002 31-3-2003 31-3-2002
1. Segment Revenue
 
 
 
 
 
 
 
a. Explosives
15682.81
6301.31
7,867.49
21,984.12
19569.58
21,984.12
19569.58
b. Lubricants
11859.54
6299.90
5,172.83
18,159.44
5172.83
18,159.44
5172.83
c. Building Products
204.80
65.25
105.65
270.05
243.64
270.05
243.64
d. Others
209.61
109.20
208.83
318.81
501.86
422.26
604.74
Total
27956.76
12775.65
13,354.80
40,732.41
25487.91
40,835.87
25590.79
Less: Inter segment revenue
-
-
6.21
9.96
6.21
32.05
39.48
Income from Sales & other Operations
27,956.76
12,775.65
13,348.59
40,722.45
25,481.70
40,803.82
25,551.31
2. Segment Results
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Profit/(loss) (before tax and interest
 
 
 
 
 
 
 
from each segment)
 
 
 
 
 
 
 
a. Explosives
1196.56
470.36
363.82
1666.92
1462.93
1666.92
1462.93
b. Lubricants
780.22
(312.38)
199.01
467.84
199.01
467.84
199.01
c. Building Products
(27.09)
(18.83)
4.29
(45.92)
(69.96)
(45.92)
(69.96)
d. Others
62.94
24.65
74.51
87.59
225.34
75.53
230.82
Total
2012.63
163.80
641.63
2176.43
1817.32
2164.37
1822.80
Less:
 
 
 
 
 
 
 
(i) Interest paid (net of interest received)
697.71
118.13
97.04
815.84
329.43
816.23
329.72
(ii) Other un-allocable expenditure
(26.60)
254.25
64.35
227.65
509.34
206.96
511.10
net off un-allocable income
 
 
 
 
 
 
 
Total Profit Before Tax
1341.52
(208.59)
480.24
1132.93
978.55
1141.18
981.98
3. Capital Employed
 
 
 
 
 
 
 
a. Explosives
12154.49
10719.12
11361.56
10719.12
12713.46
10719.12
12713.46
b. Lubricants
7057.00
6538.49
6948.34
6,538.49
6955.52
6,538.49
6955.52
c. Building Products
854.94
853.84
832.19
853.84
832.20
853.84
832.20
d. Others
173.36
192.58
175.30
192.58
190.09
285.53
192.14
Total
20239.79
18304.03
19317.39
18304.03
20691.27
18396.98
20693.32
               

Notes:

  1. The above results were reviewed by the Audit Committee and taken on record at the adjourned meeting of the Board of Directors of the Company held on 18th July 2003.

  2. Provision for Doubtful Debts/ Advances amounting to Rs.566.93 lakhs has been made in the current quarter resulting in loss before tax for the Quarter ended 31st March 2003.

  3. The Board of Directors has recommended a dividend of Rs.5 per share for the year 2002-03.

  4. The above results are after considering the adjustment of Rs.3237.63 lakhs towards compensation to employees under Voluntary Retirement Scheme and additional provision towards Gratuity liability against Share Premium Account as approved by the shareholders at the Extra Ordinary General meeting held on 25.01.2003 and approved by the Hon'ble High Court of Judicature at Hyderabad vide its order dated 25.06.2003.

  5. The audited figures for 31st March 2003 includes full year working of all Divisions. Figures for the current year are not comparable with those of the previous year which included only 3 months operation of Lubricants Division after merger w.e.f., 1.1.2002

  6. Previous period / year figures have been regrouped/recasted wherever necessary to conform to the current period.

By order of the Board
for GULF OIL CORPORATION LIMITED
Mumbai, Dated : 18.07.2003
S.Pramanik Managing Director

 

 

 


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