E.I.D.-PARRY(INDIA) LIMITED

E.I.D.- PARRY (INDIA) LIMITEDs Registered Office: `Dare House' Parry's Corner, Chennai - 600 001. Unaudited Financial Results (Provisional) for the Quarter ended December 31, 2002 Rs.in Crores Unaudited Audited Year ended Quarter ended 3 Quarters ended Dec. Dec. Dec. Dec. 31, March 31, 31, 31, 31, 2001 2002 2002 2001 2002 1. Net Sales /Income from 286.47 440.68 1040.53 1164.97 1507.02 Operations 2. Other Income 10.74 2.64 25.47 13.51 20.57 3. Total Expenditure : a) (Increase)/ Decrease in 32.35 73.83 55.58 83.81 53.78 Stock in Trade b) Consumption of Raw 70.33 101.77 346.86 357.06 501.64 Materials c) Purchase of Goods for 93.25 145.57 316.12 360.07 457.11 resale d) Staff cost 15.14 15.57 51.80 47.01 62.72 e) Other Expenditure 62.94 70.36 212.98 219.39 297.21 274.01 407.10 983.34 1067.34 1372.46 4. Gross Profit 23.20 36.22 82.66 111.14 155.13 5. Interest (Net) 7.83 12.38 26.76 43.60 52.78 6. Depreciation 11.33 11.04 33.76 32.50 43.69 7. Profit before Taxation 4.04 12.80 22.14 35.04 58.66 8. Provision for Taxation Current Tax 0.35 0.98 1.80 2.40 3.90 Deferred Tax 2.75 5.00 8.25 10.00 19.93 9. Net Profit after 0.94 6.82 12.09 22.64 34.83 Taxation (PAT) 10. Paid up Equity Share 17.84 17.84 17.84 17.84 17.84 Capital (Face value - Rs.10 per Equity Share) 11. Reserves excluding 356.20 Revaluation Reserve 12. Earnings per Share 0.53 3.82 6.77 12.68 19.48 (EPS) (not annualised) Basic and Diluted (Rs. per Equity Share) 1. The above statement of Unaudited Financial Results (Provisional) for the three quarters ended December 31,2002 was approved by the Board of Directors at their meeting held on January 16,2003. 2.a. Government of India has announced a revised policy on adhoc concession to complex Fertilisers retrospectively effective from April 01,2002.This has the effect of adversely impacting profits by Rs.9.44 crores for the three quarters ended December 31,2002.This has been fully provided for and the charge in the current quarter is Rs.5.19 crores. b. Pending announcement by Government of India of final rates of concession on Fertiliser for the third quarter ended December 31,2002, profit has been determined on the basis of best estimates, as per extant Accounting Policy. 3.a. During the three quarters ended 31st December,2002, the company has incurred Rs.3.59 crores towards Employees' Voluntary Retirement/Separation Schemes.In line with the Income Tax Law, this will be amortised over a period of five years as against the past practice of absorbing the cost in the year of payment. Had the past practice been followed, the profit for the three quarters ended in the current year would have been lower by Rs.2.87 crores. b. Staff cost for the quarter and three quarters ended December 31,2002 includes amounts charged-off against Employees' Voluntary Retirement/Separation scheme payments amounting to Rs.0.20 Crore and Rs.2.21 Crores respectively. 4. Previous period figures have been regrouped wherever necessary. On behalf of the Board Chennai M.V. Subbiah January 16, 2003 Executive Chairman E.I.D.PARRY ( INDIA ) LIMITED Segment Reporting under Clause 41 of the Listing Agreement with Stock Exchange for the Quarter ended 31st December, 2002 For the Quarter ended 3 quarters ended Year ended Dec. Dec. Dec. 31, Dec. March 31, 31, 2002 31, 31, 2002 2001 2001 2002 Rs. Rs. Rs. Rs. Rs. Crores Crores Crores Crores Crores 1. Segment Revenue (Net sales/ Income from each Segment) a. Farm Inputs 170.26 239.35 551.86 654.13 838.68 b. Sugar 80.47 167.45 388.57 415.65 539.48 c. Parryware 37.45 32.88 107.72 98.26 129.41 d. Bio-products 2.34 3.73 4.95 6.22 16.59 e. Others 7.91 0.95 18.81 8.76 11.02 Sub-Total 298.43 444.36 1071.91 1183.02 1535.18 Less : Intersegmental 1.22 1.04 5.91 4.54 7.59 Revenue Net Sales /Income from 297.21 443.32 1066.00 1178.48 1527.59 Operations 2.Segment Results ( Profit (+)/ Loss (-) before Tax and Interest from each segment ) a. Farm Inputs 2.53 10.75 17.47 32.02 44.87 b. Sugar (3.78) 11.23 8.45 37.41 52.91 c. Parryware 6.50 3.70 12.77 7.08 10.44 d. Bio-products (0.23) 0.38 (2.60) (1.38) 2.52 Sub-Total 5.02 26.06 36.09 75.13 110.74 Less: (i) Interest (Net) (7.83) (12.38 (26.76) (43.60) (52.78) ) (ii) Other un-allocable 6.85 (0.88) 12.81 3.51 0.70 expenditure net of un-allocable income Total Profit Before Tax 4.04 12.80 22.14 35.04 58.66 3. Capital Employed (Segment Assets-Segment Liabilities) a. Farm Inputs 283.28 279.15 283.28 279.15 214.02 b. Sugar 334.12 390.04 334.12 390.04 401.34 c. Parryware 79.03 85.90 79.03 85.90 86.12 d. Bio-products 39.19 38.23 39.19 38.23 41.81 e. Others (Including 136.11 126.48 136.11 126.48 108.87 Investments) Total 871.73 919.80 871.73 919.80 852.16 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/17/20030117BIT00010/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/17/20030117BIT00010/wkr0002.pdf