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Investor News > Un-audited Financial Results (Provisional) For the 3 Quarters ended December 31,
2005 |
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PRESS RELEASE
E.I.D.- PARRY (INDIA) LIMITED
Un-audited Financial Results (Provisional)
For the 3 Quarters ended December 31, 2005 |
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For the quarter ended
31st December 2005: |
The turnover of E.I.D.- Parry (India) Limited for the
quarter ended 31st December, 2005 stood at Rs.223.04
crore (Rs.189.17 crore). The Profit before tax was
Rs.38.22 crore, including Rs.22.85 crore
representing profit on sale of share (Rs.20.75 crore).
The Profit after Tax for the current quarter was
Rs.32.44 crore (Rs. 17.80 crore).
For the nine months period ended 31st December
2005:
The turnover of E.I.D.- Parry (India) Limited
for the 9 months period ended 31st December 2005
stood at Rs.624.09 crore as against Rs.482.87
crore, for the corresponding period ending 31st
December 2004, resulting in a top line growth of
over 29%. The Profit before Tax for the period
at Rs.92.31 crore (Rs.83.38 crore) is after
absorbing interest cost of Rs.6.47 crore (Rs.2.64
crore) and depreciation of Rs.22.36 crore (Rs.20.93
crore). After providing for the current tax of
Rs.12.10 crore (Rs.12.00 crore), deferred tax of
Rs.6.85 crore (Rs.3.66 crore) and fringe benefit tax
of Rs.1.20 crore, the Profit after Tax for the 9
months period was Rs.72.16 crore
(Rs.67.72 crore).
Sugar:
The Sugar division of the Company recorded a top
line growth of over 17% for the reporting quarter
over the corresponding period. The branded sugar
“Parrys Pure” is getting well accepted both at the
retail and institutional level. With lower than
estimated sugar production for the current sugar
year (Oct 05 –Sep 06) coupled with high
international prices the sugar industry and the
Company are expected to register good performance in
the coming quarters.
Parryware:
Parryware business continues to record robust growth
with over 30% improvement in top line over the
corresponding quarter of previous year. Focus on
institutional segment and new products aided the top
line growth. With the growth momentum in the
construction industry continuing the division is
well positioned to exploit the opportunities
resulting in good performance in the period ahead.
Bio-products:
The Bio-products division reported a topline growth
of 8% as compared to the corresponding quarter of
the previous year. The aggressive promotion of AbdA
and Neemazal T/S in the domestic market aided the
divisions positive growth. With both the domestic
and the international markets providing opportunity
for organic products the division is expected to
continue its positive growth in the fourth quarter
too.
Projects:
The Cogeneration power projects at the Company’s
sugar facilities at Pudukottai and Pugalur, setting
up of a Greenfield sanitaryware factory at
Perundurai and the acquisition of the assets of New
Horizon Sugar Mills Limited, Pondicherry are
progressing well.
Transfer of Parryware Business:
Consequent to the approval accorded by the
shareholders by the process of postal ballot, the
Parryware business of the Company will be
transferred to Parryware Glamourooms Private Limited
(100% subsidiary of the company) as a going concern
basis at book value with effect from 1st March 2006.
About Us:
Murugappa Group, a USD 1.5 Billion
conglomerate, is one of India’s largest
family-promoted, professionally managed corporate
with over 28,000 employees. A pioneer and market
leader in several fields with over 40 manufacturing
operations across 12 states in India, the group has
a strong presence in farm inputs, engineering and
cycles, sugar, abrasives, finance, general
insurance, sanitaryware, plantations, bio-products
and nutraceuticals.
For further information, please contact:
Mr. D. Kumaraswamy, Chief Financial Officer
E.I.D.- Parry (India) Limited,
Dare House, 234 NSC Bose Road, Chennai – 600 001.
Tel: +44 – 2534 0723
Email:
KumaraswamyD@parry.murugappa.com
Website:
www.eidparry.com
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