|
for the quarter ended 30-06-2007
Particulars
|
Quarter
ended |
Year
ended 31-03-2007
(Audited) |
| 30-06-2007 |
30-06-2006 |
|
| 1. Income from Sales & Other Operations |
18480.24 |
12870.73 |
66865.64 |
| Less: Excise Duty |
1898.99 |
1211.12 |
6730.81 |
| Net Sales |
16581.25 |
11659.65 |
60134.83 |
| 2. Income from Property Development |
600.00 |
500.00 |
3337.00 |
| 3. Other Income |
59.86 |
152.21 |
317.99 |
| Total Revenue (1 + 2 + 3) |
17241.11 |
12311.82 |
63789.82 |
| 4. Total Expenditure |
15399.47 |
11159.65 |
57403.36 |
| a) (Increase)/decrease in Stock
in trade |
(50.65) |
(134.44) |
(699.45) |
| b) Purchase of goods for resale |
530.51 |
1507.66 |
5542.09 |
| c) Consumption of raw materials,etc., |
8358.58 |
5921.07 |
32133.44 |
| d) Expenses on Operation Contracts |
2251.36 |
688.62 |
3878.98 |
| e) Staff Cost |
1361.74 |
1060.48 |
4856.18 |
| f) Other Expenditure |
2947.93 |
2116.26 |
11692.12 |
| 5. Interest (Net) |
519.54 |
252.74 |
1738.63 |
| 6. Depreciation |
390.26 |
211.30 |
11002.14 |
7. Profit Before Tax & Exceptional Item
(1 + 2 + 3 - 4 - 5 - 6) |
931.84 |
688.13 |
3645.69 |
| 8. Exceptional Item - VRS compensation |
120.55 |
93.58 |
462.32 |
| 9. Profit Before Tax (7 - 8) |
811.29 |
594.55 |
3183.37 |
| 10. Provision for Current Tax / MAT |
87.00 |
75.00 |
354.00 |
| 11. Tax Provision for earlier years written back |
|
|
(59.32) |
| 12. Provision for Fringe Benefit Tax |
24.00 |
15.50 |
120.10 |
| 13. Profit before Deferred Tax (9 - 10 - 11 - 12) |
700.29 |
504.05 |
2768.59 |
| 14. Provision for Deferred Tax |
168.00 |
|
468.00 |
| 15. Net Profit After Tax (13 - 14) |
532.29 |
504.05 |
2300.59 |
16. Paid up Equity Share Capital (Face value
of Rs. 10 each) |
1487.17 |
1387.17 |
1387.17 |
17. Reserves Excluding Revaluation Reserves (as per
Balance Sheet) |
|
|
14388.71 |
| 18. EPS for the period (not to be annualised) - Basic |
3.74
|
3.63 |
16.58 |
| - Diluted |
3.74 |
3.49 |
15.84 |
| 19. Aggregate of Non-Promoter Shareholding |
|
|
|
| No. of Shares |
|
|
7070767 |
| Percentage of shareholding (%) |
|
|
50.97 |
| |
|
|
|
Unaudited Segment Information as per Clause 41 of the Listing Agreement
for the Quarter Ended 30-06-2007
| Particulars |
Quarter ended 30th
June 2007 |
Quarter ended 30th
June 2006 |
Year ended 31st March 2007
(Audited) |
| 1. Segment Revenue |
|
|
|
| a. Explosives |
4207.81 |
3393.22 |
14868.70 |
| b. Lubricants |
7118.31 |
7080.73 |
35632.53 |
| c. Consult (Mining/Infrastructure contracts) |
3371.61 |
1130.36 |
6444.17 |
| d. Speciality Chemicals |
1888.44 |
197.51 |
3362.43 |
| e. Property Development |
600.00 |
500.00 |
3337.00 |
| f. Others |
|
11.94 |
0.04 |
| g. Unallocable Income |
64.42 |
7.20 |
180.57 |
| Total |
17250.59 |
12320.96 |
63825.44 |
| Less: Inter segment revenue |
9.48 |
9.14 |
35.62 |
| Income from Sales & other Operations |
17241.11 |
12311.82 |
63789.82 |
| 2. Segment Results |
|
|
|
| Profit/(loss) (before tax and interest from each segment ) |
|
|
|
| a. Explosives |
103.54 |
129.74 |
(146.32) |
| b. Lubricants |
458.63 |
280.03 |
1714.07 |
| c. Consult (Mining/Infrastructure contracts) |
497.05 |
280.51 |
1402.88 |
| d. Speciality Chemicals |
(77.40) |
(87.82)* |
(334.95) |
| e. Property Development |
600.00 |
500.00 |
3328.10 |
| f. Others |
(7.56) |
7.36 |
(25.68) |
| Total |
1574.26 |
1109.82 |
5938.10 |
| Less: |
|
|
|
| (i) Interest paid (net of interest received) |
519.54 |
252.74 |
1738.63 |
(ii) Other un-allocable expenditure net off
un-allocable income |
243.43 |
262.53 |
1016.10 |
| Total Profit Before Tax |
811.29 |
594.55 |
3183.37 |
| 3. Capital Employed |
|
|
|
| a. Explosives |
6803.08 |
7235.97 |
8001.06 |
| b. Lubricants |
7316.45 |
5580.00 |
7461.84 |
| c. Consult (Mining/Infrastructure contracts) |
6873.64 |
2304.58 |
6793.72 |
| d. Speciality Chemicals |
7879.86 |
5628.83 |
7468.96 |
| e. Property Development |
81.70 |
1.32 |
81.70 |
| f. Others |
191.95 |
279.77 |
194.71 |
| g. Unallocable - Corporate |
7353.81 |
5510.26 |
7033.41 |
| Total |
36500.49 |
26540.73 |
37035.40 |
| |
|
|
|
* Represents results of operations for one month.
The above results were reviewed by the Audit Committee and taken on record at the meeting of Board of Directors of the Company held on 24th July 2007.
During the quarter, in terms of its shareholders resolution dated 2nd December 2005, the Company has allotted 10,00,000 Equity Shares of Rs.10/- each at a price of Rs.505 to persons other than promoters (3,00,000 shares on 24th April 2007 and 7,00,000 shares on 14th June 2007). The fully paid-up Equity Shares of the Company stand listed on 6th June 2007 and 16th July 2007, respectively, for trading on Bombay Stock Exchange.
The weighted average number of equity shares outstanding has been considered for calculating the Earnings Per Share in terms of Accounting Standard (AS) 20.
During the quarter the Company has divested its balance holding in IDL Arom International Ltd. to Aasia Property Development Ltd. for a consideration of Rs. 33 lacs and profit arising from this transaction is included in the other income.
The auditors in their report have mentioned that they are unable to take a view in the absence of sufficient taxable profit, the appropriateness of carrying deferred tax asset of Rs.797 lacs. Management is confident that the Company will make sufficient profits to absorb the deferred tax asset.
In view of Accounting Standards (AS) 15 "Employee Benefits" issued by the Institute of Chartered Accountants of India, which is applicable for financial year, the adjustments on account of transitional provisions will be dealt with in the opening reserves at the year end. Additional charge on account of employee benefits has been provided for in the current quarter.
Auditors have carried out limited review of the Financial results for the quarter ended 30th June 2007 as required under clause 41 of the listing requirments.
Investors' complaints: Pending at the beginning of the quarter : Nil; Received during the quarter: 23 ; Cleared during the quarter: 23 ; Pending complaints: Nil.
Previous period / year figures have been regrouped wherever necessary.
By Order of the Board
For GULF OIL CORPORATION LTD
S. Pramanik
Managing Director
Mumbai
24th July, 2007
|
