trf, no.l, w.polygonta - polygenta technologies limited results for the... · unaudited financial...
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POLYGENTA TECHNOLOGIES LIMITED
Registered Offico :- Solitaire Corporate trf, Bldg. No.l, 6th Floor, Unit No.z, Chakala, Andheri (E), Mumbai 400 093
Ph: +91 22 6193 3333; Fax: +91 22 6193 316; E+nail: [email protected]; Website: w.polygonta.comCIN: L17120MH1981 PLCo25388
Unaudited Financial Results for tha Quartor ended 31st Doc 2014
ART Rs. in Lacs (Except per share data
Quarter Ended Nine Months Endod
,articulars
3 MonthsEnded
3',t-12-2014
3 MonthsEnded
30-09-201 4
3 MonthsEnded
3'l-12-2013
Year to DateFigures for the
period year31-12-2014
Year lo DateFigures for the
period year 31
12-2013
Previousaccountingyear endod31 -03-201 4
3 4 5 6
Unaudited [J naudited Unaudited LJnaudited l..lnaudited Audited
2
3
4
5
6
7
I
o
10
11
12
13
14
ncome from operations,) Net Sales / lncome from Operations (net of Excise duty)
3) Other Operating lncome
fotal lncome from Oporations (Net)
Expensesa) Cost of materials consumed
)) Change in lnventories of Finished goodsMork in Progress3) Power & Fuelc) Employee benefitrs expensee) Depreciation & Amortization expense
0 Other expensesg) Foreign Exchange (Gain/Loss
Total Expenses
Profiu(Loss) trom operatlons before other lncome, flnance
cost (1 -2)
Other lncome
Profiu (Loss) before finance cost (3+4)
Finance costs
ProfiU (Loss) after finance cost & before exceptionalitems(56)
Exceptional ltems.
Profiu(Loss) Before Tax (7+8)
Tax Expense
Profit /(Loss) after Tax (9-1 0)
Paid-up Equity Share Capital(Face Value of {1 0 p6r share)
Reserues excluding Revaluation Reserves as perbalance sheet of previous accounting year
Earnings per Share (EPS)- Basic & Diluted EPS Before Exceptional items (Rs)- Basic & Diluted EPS After Exceptional items (Rs)
See accompanying notes to the linancial results
995.24
4.39
999.62
838.65
291.94343.12343.09407.09189.50
(1 e4.861
2,218.53
(1,218.911
22.75
(1,196.161
376.22
(1,s72.381
14,472.57
(1.10(1.10
(1 ,572.38"
(1,572.381
1,683.98
11.22
1,695.20
1,973.71
(s30.031
669.16379.82407.02287.69
3.39
3,190.76
(1,495.561
26.75
(1,468.811
525.83
(r,994.63',
(1,994.63
14,472.57
(1.38(1.38
(1,994.63'
1,768.56
6.46
1,775.02
1 ,606.49285.87757.11z I o.Jo398.1 1
262.4529.30
3,555.71
(r,780.69
38.17
('t,742.52
331.46
.98
.98
(2,073.98
(2,073
(2,073
12,265.58
(1.6e(1.69
4,110.25
24.88
4,1 35.1 3
3,506.34
7't0.021,300.961,077.04't,238.33
730.35(169.17.
8,393.88
(4,258.74'
84.35
(4,'r74.39
1,248.60
(5,423.00
(5,423.00',
(5,423.00
14,472.57
(3.7s(3.75
4,052.09
37.65
4,089.75
4,0'19.58
(1 12.091
1,705.48635.86
'1,198.15
645.41426.74
8,51 9.1 4
(4,429.39
73.80
(4,355.59
928.93
(5,284.52
14(0
(5,284.66
(5,284.66
12,265.58
(4.31
(4.31
5,331.92
112.24
5,444.'t6
5,040.33(383.591
2,291.70864.20
1 ,569.35916.60318.62
11,2'.17 .21
(5,773.05
74.52
(5,6e6.53
1,297.13
(6,995.66
(6,ee5.66
(6,995.66
14,472.57
(11,273.08
(5.69(5.69
,ART llselect information for the ouarter ended 3l st Dec 201 4
1
2
,articulars of shareholding
>ublic shareholding- Number of shares- Percentage of shareholding
)romoters and Promoter Group Shareholdinga) Pledged / Encumbered- Number of shares- Percentage of shares (as a o/o of the total shareholding
of promoter and promoter group)- Percentage of shares (as a 70 of the total share capital
of the Company)
Lt) Non-encumbered- Number of shares- Percentage o{ shares (as a % of the total shareholding
of promoler and promoter group)- Percentage of shares (as a o/o of the total share capital
of ths Company)
37,047,90125.6v,
10,500,000
9.8"1
7.30/,
97,177 ,750
90.2.1
67.101
37,047 ,90125.60/,
10,500,000
9.801
7.30/,
97,177 ,750
90.27
67.1o/
30,743,30125.1.1
1 0,500,000
11 .40/t
8.60/,
81,412,464
88.601
66.301
37,047,90125.60n
10,500,000
9.8"/.
7.3v"
97,177 ,750
90.2./,
67 .10/,
30,743,30125.10/t
10,500,000
11.404
8.60/c
81,412,464
88.601
66.3"1
37,047,90125.6"1
10,500,000
9.80/c
7.3"/"
97 ,177 ,750
90.2"/,
67 .101
Particulars
lnvestor Complaints. t- Pending at the beginning of the quarter
- Received during the quartor
- Disposed off during the quarter
Ouarter ended 31.12.201 4
unresolved at the end of the quarter
The above linancial results have been taken on record by the Audit Committes and subsequently adopted by the Board of Directors in its meeting held on 1 2rh
2015.
The Company is engaged in the business of manufacturing and selling polyester filament yam (PFY). All of the Company's operations are based in lndia and
subject to the same risks and retums. Therefore, no separate segment reporting is provided in terms of Accounling Standard-17, Ls. Segment Reporting.
During the quarter under review, the plant was shut for a considerable time period from 8th October to 4th December'14 due to poor demand for yarn on accounl of
steep fall in oil prices, resulting in lower virgin yarn prices.
ln this Quarter, Polygenta sold to the apparel sector high quality polyester texturised yam made from '1000/0 post-consumer recycled PET bottles. However, the
Company continues to incur losses as the overall polyester industry is adversely affected due to the weak market conditions owing lo iall in the crude oil prices in past
few months. Polygenta has now made progress in its efforts to increase the volums of sales sold into premium segments and as a result, there are encouraging
discussions with a range of domestic and international customers . Tha Company has started receiving orders for significant quantilies from international customers.
The Majority Shareholder(Promoter) continued to support tha operations and during the quarter havs provided an additional amount of Rs 543.60 lacs as ECB to the
company.Accordingly, llnancial statements are prepared based on the Principle ofGoing Concern.
Consequenl lo the enactment of the Companies Act, 2013 (the Acl) and its applicability for accounting periods commencing from 1st April,2014, the Company hasrealigned the remaining useful life of its fixed assets in accordance with the provisions prescribed under Schedule ll to the Act. Consequently, in case of assets which
have completed their useful life, the carrying value (net of residual value) as at 'l st April, 201 4 amounting to Rs 47.67 lacs has been adjusted to "Surplus in the
Slatement of Profit and Loss" and in case of olher assets lhe carrying value (net of residual value) is being depreciated over the revised remaining useful lives.Accordingly,thedepreciationandamortizatlonexpenseforthequarterandninemonthsended3lstDecembar,20l4islowerbyRs24.60 lacs andRs.86.38 lacs
respectively.
Aspreviouslyreported,in2009theCompanyprocuredExlemal Commercial Borowing(ECB) loansforanamounlofEurol5Million(equivalentto Rs.11,654Lakhs
as on 31sr December 20 14). The Company has provided for interest liability up to 31"r December 2014 of Rs, 29 09.51 lakhs (equivalent to Euros 38.02 Million) on the
above loans. The Company is in the process of seeklng deferal from the extemal ECB lenders for select interest payments which are otheruise overdue.
Foreign exchange gains or losses on long term borowing undertaken for operating purposes are amortised over the period of the ECB loan. The effect of this has been
reflected in the results ior the quarter-ending December 31 st,201 4.
Nit
Nit
Nit
Nil