Schaeffler India

 
 
 
 
 
 
Quarterly Financial Results 2012

Quarter II, 2012: Unaudited Financial Results

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED JUNE 30, 2012

 
PART I Rupees in Million
    1 2 3 4 5 6
Sr. No. Particulars THREE MONTHS ENDED YEAR TO DATE FIGURE YEAR ENDED

30-6-2012
(Unaudited)

31-3-2012
(Unaudited)

30-6-2011
(Unaudited)

30-6-2012
(Unaudited)

30-6-2011
(Unaudited)

31-12-2011
(Audited)
1 Income from Operations            
a) Net sales / Income from Operations
(Net of excise duty)
3,782.5 3,601.0 3,157.9 7,383.5 6,228.6 12,993.3
b) Other Operating Income 18.1 32.0 21.4 50.1 39.7 93.0
  Total income from operations (Net) 3,800.6 3,633.0 3,179.3 7,433.6 6,268.3 13,086.3
2 Expenses            
a) Cost of materials consumed 1,302.6 1,210.6 1,077.3 2,513.2 2,041.5 4,281.9
b) Purchase of Stock-in-trade 977.5 922.5 778.9 1,900.0 1,526.1 3,433.7
c) Changes in inventories of finished goods, Work-in-Progress and stock-in-trade 106.9 86.8 (76.8) 193.7 (54.5) (141.5)
d) Employees benefit expense 278.7 269.9 260.2 548.6 488.1 1,011.8
e) Depreciation and amortisation expense
66.3 62.8 51.1 129.1 104.3 225.9
f) Other expenses 496.4 506.7 504.0 1,003.1 1,005.8 1,960.0
  Total expenses 3,228.4 3,059.3 2,594.7 6,287.7 5,111.3 10,771.8
3 Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) 572.2 573.7 584.6 1,145.9 1,157.0 2,314.5
4 Other Income 117.9 112.7 81.8 230.6 152.9 307.7
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 690.1 686.4 666.4 1,376.5 1,309.9 2,622.2
6 Finance cost 3.5 3.6 3.1 7.1 5.9 12.6
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 686.6 682.8 663.3 1,369.4 1,304.0 2,609.6
8 Exceptional Items - - - - - -
9 Profit from Ordinary Activities before tax (7-8) 686.6 682.8 663.3 1,369.4 1,304.0 2,609.6
10 Tax expense 224.2 219.7 216.1 443.9 428.0 849.9
11 Net Profit from Ordinary Activities after tax (9-10) 462.4 463.1 447.2 925.5 876.0 1,759.7
12 Extraordinary Items (Net of tax expense) - - - - - -
13 Net Profit for the period (11-12) 462.4 463.1 447.2 925.5 876.0 1,759.7
14 Paid-up equity share capital
(Face value of Rs.10/- per share)
166.2 166.2 166.2 166.2 166.2 166.2
15 Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year - - - - - 7,112.6
16i Earnings per share (before extraordinary items)
(of Rs. 10 each) (not annualised)
           
a) Basic 27.82 27.86 26.91 55.68 52.71 105.88
b) Diluted 27.82 27.86 26.91 55.68 52.71 105.88
16ii Earnings per share (After extraordinary items)
(of Rs. 10 each) (not annualised)
           
a) Basic 27.82 27.86 26.91 55.68 52.71 105.88
b) Diluted 27.82 27.86 26.91 55.68 52.71 105.88
 
PART II
SELECT INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED
    1 2 3 4 5 6
Sr. No. Particulars THREE MONTHS ENDED YEAR TO DATE FIGURE YEAR ENDED

30-6-2012
(Unaudited)

31-3-2012
(Unaudited)

30-6-2011
(Unaudited)

30-6-2012
(Unaudited)

30-6-2011
(Unaudited)

31-12-2011
(Audited)
A PARTICULARS OF SHAREHOLDING            
1 Public Shareholding            
- Number of shares 8088087 8088087 8088087 8088087 8088087 8088087
- Percentage of shareholding 48.7 48.7 48.7 48.7 48.7 48.7
2 Promoters and promoter group Shareholding            
a) Pledged / Encumbered            
- Number of Shares - - - - - -
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) - - - - - -
- Percentage of shares (as a % of the total share capital of the company) - - - - - -
b) Non-encumbered            
- Number of Shares 8529183 8529183 8529183 8529183 8529183 8529183
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100 100 100 100 100 100
- Percentage of shares (as a % of the total share capital of the company) 51.3 51.3 51.3 51.3 51.3 51.3
  Particulars 30-6-2012
3 MONTHS ENDED
B INVESTOR COMPLAINTS      
  Pending at the beginning of the quarter     -
  Received during the quarter     -
  Disposed of during the quarter     -
  Remaining unresolved at the end of the quarter     -
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
  Particulars AS AT 30-6-2012
(Unaudited)
AS AT 31-12-2011
(Audited
)
A EQUITY AND LIABILITIES    
1 Shareholders' funds    
  a) Share Capital 166.2 166.2
  b) Reserves & Surplus 7,866.3 7,134.2
  Shareholders' Funds 8,032.5 7,300.4
3 Non-current liabilities    
  a) Long-term borrowings - -
  b) Deferred tax liabilities 33.7 31.7
  c) Other long-term liabilities 15.1 14.7
  d) Long-term Provisions 131.8 124.1
  Non-Current Liabilities 180.6 170.5
4 Current Liabilities    
  a) Short-term borrowings - -
  b) Trade payables 1,964.6 1,735.7
  c) Other current liabilities 369.1 342.9
  d) Short-term provisions 439.1 352.8
  Current Liabilities 2,772.8 2,431.4
  TOTAL-EQUITY AND LIABILITIES 10,985.9 9,902.3
B ASSETS - -
1 Non-current assets - -
  a) Fixed assets 3,345.2 2,351.6
  b) Goodwill on consolidation - -
  c) Non-current investments - -
  d) Deferred tax assets (net) - -
  e) Long-term loans and advances 472.8 751.8
  f) Other non-current assets - -
  Non-current assets 3,818.0 3,103.4
2 Current assets    
  a) Current investments - -
  b) Inventories 1,588.5 1,622.5
  c) Trade receivables 2,710.9 2,115.8
  d) Cash and cash equivalents 1,846.2 2,334.2
  e) Short-term loans and advances 984.4 632.2
  f) Other current assets 37.9 94.2
  Current assets 7,167.9 6,798.9
  TOTAL-ASSETS 10,985.9 9,902.3
 

Notes:

1) The business of the Company falls under a single primary segment i.e. "Ball / Roller Bearings and related components" for the purpose of Accounting Standard AS - 17.

2) The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on July 19, 2012.

4) The Statutory Auditors have performed a "Limited Review" of the above financial results for the six months ended June 30, 2012.

5) The figures of the previous periods have been regrouped wherever necessary to conform to the current period's presentation.

 

Per our report attached of even date
B S R & Co.
Chartered Accountants
Firm Reg. No. 101248W

Vijay Mathur
Partner

For FAG BEARINGS INDIA LIMITED

Rajendra Anandpara
Managing Director

Place: New Delhi
Date: July 19, 2012