Schaeffler India

 
 
 
 
 
 
Quarterly Financial Results 2012

Quarter IV, 2012: Audited Financial Results

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2012

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

31-12-2012
(Audited)

30-9-2012
(Unaudited)

31-12-2011
(Audited)

31-12-2012
(Audited)

31-12-2011
(Audited)
1 Income from Operations          
a) Net sales / Income from Operations
(Net of excise duty)
3,435.6 3,539.3 3,458.6 14,358.4 12,993.3
b) Other Operating Income 35.6 22.4 22.9 108.1 92.2
  Total income from operations (Net) 3,471.2 3,561.7 3,481.5 14,466.5 13,085.5
2 Expenses          
a) Cost of materials consumed 1,000.3 1,269.4 1,148.6 4,782.9 4,281.9
b) Purchase of Stock-in-trade 1,038.5 1,106.8 996.0 4,045.3 3,433.7
c) Changes in inventories of finished goods, Work-in-Progress and stock-in-trade 228.1 (174.1) (6.3) 247.7 (141.5)
d) Employees benefit expense 303.6 276.7 272.7 1,128.9 1,011.8
e) Depreciation and amortisation expense
87.6 86.0 63.1 302.7 225.9
f) Other expenses 487.5 567.0 450.2 2,057.6 1,960.0
  Total expenses 3,145.6 3,131.8 2,924.3 12,565.1 10,771.8
3 Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) 325.6 429.9 557.2 1,901.4 2,313.7
4 Other Income 94.7 121.0 79.8 446.3 308.5
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 420.3 550.9 637.0 2,347.7 2,622.2
6 Finance cost 2.2 3.7 3.6 13.0 12.6
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 418.1 547.2 633.4 2,334.7 2,609.6
8 Exceptional Items - - - - -
9 Profit from Ordinary Activities before tax (7-8) 418.1 547.2 633.4 2,334.7 2,609.6
10 Tax expense 121.2 177.8 203.8 742.9 849.9
11 Net Profit from Ordinary Activities after tax (9-10) 296.9 369.4 429.6 1,591.8 1,759.7
12 Extraordinary Items (Net of tax expense) - - - - -
13 Net Profit for the period (11-12) 269.9 369.4 429.6 1,591.8 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
15 Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year - - - 8,607.8 7,112.6
16i Earnings per share (before extraordinary items)
(of Rs. 10 each) (not annualised)
         
a) Basic 17.86 22.23 25.85 95.79 105.88
b) Diluted 17.86 22.23 25.85 95.79 105.88
16ii Earnings per share (After extraordinary items)
(of Rs. 10 each) (not annualised)
         
a) Basic 17.86 22.23 25.85 95.79 105.88
b) Diluted 17.86 22.23 25.85 95.79 105.88
 
PART II
SELECT INFORMATION FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2012
    1 2 3 4 5
Sr. No. Particulars THREE MONTHS ENDED YEAR ENDED

31-12-2012
(Audited)

30-9-2012
(Unaudited)

31-12-2011
(Audited)

31-12-2012
(Audited)

31-12-2011
(Audited)
A PARTICULARS OF SHAREHOLDING          
1 Public Shareholding          
- Number of shares 8088087 8088087 8088087 8088087 8088087
- Percentage of shareholding 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
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 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
  Particulars 3 MONTHS ENDED
31-12-2012
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
Sr. No. Particulars AS AT 31-12-2012
(Audited)
AS AT 31-12-2011
(Audited)
A EQUITY AND LIABILITIES    
1 Shareholders' funds    
  a) Share Capital 166.2 166.2
  b) Reserves & Surplus 8,628.8 7,134.2
  Shareholders' Funds 8,795.0 7,300.4
3 Non-current liabilities    
  a) Deferred tax liabilities 64.4 31.7
  b) Other long-term liabilities 15.2 14.4
  c) Long-term Provisions 229.4 194.3
  Non-Current Liabilities 309.0 240.4
4 Current Liabilities    
  a) Trade payables 1,786.1 1,754.0
  b) Other current liabilities 417.7 452.2
  c) Short-term provisions 128.8 221.0
  Current Liabilities 2,332.6 2,427.2
  TOTAL-EQUITY AND LIABILITIES 11,436.6 9,968.0
B ASSETS    
1 Non-current assets    
  a) Fixed assets 3,927.1 2,351.6
  b) Non-current investments 43.5 -
  c) Long-term loans and advances 754.3 1,201.7
  d) Other non-current assets 4.6 -
  Non-current assets 4,729.5 3,553.3
2 Current assets    
  a) Inventories 1,422.1 1,622.5
  b) Trade receivables 2,547.1 2,143.0
  c) Cash and cash equivalents 1,948.2 2,334.2
  d) Short-term loans and advances 755.4 220.8
  e) Other current assets 34.3 94.2
  Current assets 6,707.1 6,414.7
  TOTAL-ASSETS 11,436.6 9,968.0
 

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 figures of the last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the respective financial year. Also the figures up to the end of the third quarter were only reviewed and not subjected to audit.

3) There was no investor's complaint pending at the beginning and end of the quarter. No complaints were received during the quarter.

4) The audited financial results for the year ended December 31, 2012 were reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on February 14, 2013. The statutory auditors have expressed an unqualified opinion.

5) The Board of Directors of the Company has recommended a dividend for the year ended December 31, 2012 at the rate of Rs. 5 (2011: Rs. 10, inclusive of a dividend of Rs. 5 per Share in celebration of the Company's 50th year of incorporation).

6) 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: February 14, 2013