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THE BOMBAY DYEING AND MANUFACTURING COMPANY LTD. |
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Neville
House, J. N.Heredia Marg, Ballard Estate, Mumbai-400 001 |
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UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2009 |
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SEGMENT
WISE REVENUE, RESULTS AND CAPITAL EMPLOYED |
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Rs. in crores |
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Rs. in crores |
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-1 |
-2 |
-3 |
-4 |
-5 |
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-1 |
-2 |
-3 |
-4 |
-5 |
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PARTICULARS |
QUARTER |
QUARTER |
HALF YEAR |
HALF YEAR |
YEAR |
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PARTICULARS |
QUARTER |
QUARTER |
HALF YEAR |
HALF YEAR |
YEAR |
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ENDED |
ENDED |
ENDED |
ENDED |
ENDED |
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ENDED |
ENDED |
ENDED |
ENDED |
ENDED |
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30.09.2009 |
30.09.2008 |
30.09.2009 |
30.09.2008 |
31.03.2009 |
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30.09.2009 |
30.09.2008 |
30.09.2009 |
30.09.2008 |
31.03.2009 |
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(UNAUDITED) |
(UNAUDITED) |
(UNAUDITED) |
(UNAUDITED) |
(AUDITED) |
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(UNAUDITED) |
(UNAUDITED) |
(UNAUDITED) |
(UNAUDITED) |
(AUDITED) |
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1 |
Sales |
378.44 |
263.39 |
727.63 |
607.53 |
1359.90 |
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1 |
Segment Revenue (net |
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Less:
Excise duty recovered on sales |
11.50 |
10.04 |
16.93 |
25.33 |
43.64 |
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sales/income from each segment) |
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Net
Sales |
366.94 |
253.35 |
710.70 |
582.20 |
1316.26 |
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(a) |
Textile |
71.96 |
94.38 |
144.51 |
192.95 |
321.49 |
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2 |
Other Operating
Income |
6.78 |
8.51 |
13.72 |
27.51 |
47.33 |
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(b) |
Polyester |
180.32 |
153.44 |
349.20 |
390.93 |
765.96 |
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3 |
Total
Income (1+2) |
373.72 |
261.86 |
724.42 |
609.71 |
1363.59 |
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(c) |
Real Estate |
122.81 |
14.28 |
232.08 |
27.11 |
272.88 |
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4 |
Expenditure: |
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(a) (Increase)/decrease in stock-in-trade and |
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work-in-progress |
(20.97) |
(3.89) |
(4.68) |
(17.83) |
(4.22) |
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Total |
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375.09 |
262.10 |
725.79 |
610.99 |
1360.33 |
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(b)
Consumption of raw materials |
191.12 |
190.21 |
343.69 |
426.30 |
777.14 |
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(c) Purchase of traded goods |
11.78 |
18.01 |
22.13 |
35.60 |
57.88 |
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Add/(Less) :Inter segment
revenue/Other Income |
(1.37) |
(0.24) |
(1.37) |
(1.28) |
3.26 |
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(d) Cost in respect of real estate, net of revaluation |
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reserve |
39.44 |
11.29 |
83.21 |
14.78 |
88.15 |
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(e) Employees cost |
12.17 |
12.63 |
24.35 |
24.41 |
51.38 |
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Total Sales/Other Operating Income |
373.72 |
261.86 |
724.42 |
609.71 |
1363.59 |
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(f) Depreciation |
14.66 |
13.32 |
29.54 |
26.65 |
55.73 |
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(g) Other expenditure |
91.68 |
92.50 |
166.25 |
188.96 |
368.83 |
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(h) Total |
339.88 |
334.07 |
664.49 |
698.87 |
1394.89 |
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2 |
Segment Results - Profit/ (Loss) |
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5 |
Profit from Operations before Other Income, Interest and |
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(a) |
Textile |
(11.88) |
(18.03) |
(22.29) |
(28.73) |
(65.98) |
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Exceptional Items (3-4) |
33.84 |
(72.21) |
59.93 |
(89.16) |
(31.30) |
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(b) |
Polyester |
(25.21) |
(45.11) |
(39.56) |
(48.46) |
(72.64) |
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6 |
Other Income |
- |
1.45 |
- |
2.52 |
0.30 |
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(c) |
Real Estate |
78.36 |
(3.39) |
138.80 |
0.56 |
159.47 |
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7 |
Profit before Interest & Exceptional Items (5+6) |
33.84 |
(70.76) |
59.93 |
(86.64) |
(31.00) |
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8 |
Net Interest expense |
44.55 |
32.52 |
89.98 |
63.59 |
160.54 |
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Total |
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41.27 |
(66.53) |
76.95 |
(76.63) |
20.85 |
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9 |
Gross Profit/ (Loss) after Interest
but before |
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Less: |
(i) Voluntary Retirement Compensation |
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Exceptional item
and Taxation (7-8) |
(10.71) |
(103.28) |
(30.05) |
(150.23) |
(191.54) |
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Written off |
0.34 |
0.35 |
0.69 |
1.37 |
2.06 |
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(ii) Net Interest
expense |
44.55 |
32.52 |
89.98 |
63.59 |
160.54 |
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10 |
Exceptional Item: |
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(iii) Other
un-allocable expenditure |
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Less: Voluntary
Retirement Compensation Written off |
0.34 |
0.35 |
0.69 |
1.37 |
2.06 |
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net of
un-allocable income |
7.43 |
4.23 |
17.02 |
10.01 |
55.41 |
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11 |
Profit/ (Loss)
from ordinary activities before tax (9-10) |
(11.05) |
(103.63) |
(30.74) |
(151.60) |
(193.60) |
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Add: |
(i) Other
un-allocable income |
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net of
un-allocable expenditure |
- |
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3.57 |
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12 |
Less: Tax expense |
- |
0.34 |
- |
0.71 |
1.02 |
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13 |
Net Profit/
(Loss) from ordinary activities after tax (11-12) |
(11.05) |
(103.97) |
(30.74) |
(152.31) |
(194.62) |
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Total Profit/ (Loss)
before Tax |
(11.05) |
(103.63) |
(30.74) |
(151.60) |
(193.60) |
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14 |
Extraordinary items (net of tax
expense) |
- |
- |
- |
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3 |
Capital Employed |
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(Segment Assets - Segment Liabilities) |
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15 |
Net Profit/
(Loss) for the period (13-14) |
(11.05) |
(103.97) |
(30.74) |
(152.31) |
(194.62) |
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(a) |
Textile |
437.93 |
521.69 |
437.93 |
521.69 |
449.33 |
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16 |
Paid up equity
share capital |
38.61 |
38.61 |
38.61 |
38.61 |
38.61 |
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(Face value Rs.10
per share) |
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(b) |
Polyester |
668.42 |
681.53 |
668.42 |
681.53 |
677.71 |
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Reserves
excluding revaluation reserves |
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130.27 |
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Basic EPS (Rs.) |
(2.86) |
(26.92) |
(7.96) |
(39.44) |
(50.39) |
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(c) |
Real Estate |
653.91 |
393.36 |
653.91 |
393.36 |
749.15 |
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Diluted EPS (Rs.) |
(2.86) |
(26.92) |
(7.96) |
(39.44) |
(50.39) |
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Unallocated: |
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17 |
Aggregate
of Public Shareholding |
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(i) Voluntary
Retirement Compensation |
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- Number of shares |
1,98,48,264 |
1,98,46,954 |
1,98,48,264 |
1,98,46,954 |
1,98,47,264 |
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(to
the extent not written off or adjusted) |
0.69 |
2.08 |
0.69 |
2.08 |
1.40 |
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- Percentage of
shareholding |
51.40 |
51.39 |
51.40 |
51.39 |
51.40 |
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(ii) Others |
198.45 |
226.68 |
198.45 |
226.68 |
203.73 |
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18 |
Promoters
& promoter group Shareholding |
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a)
Pledged/Encumbered |
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Total Capital Employed |
1959.40 |
1825.34 |
1959.40 |
1825.34 |
2081.32 |
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- Number of Shares |
43,77,274 |
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43,77,274 |
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49,72,674 |
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- Percentage of
shares |
24.07 |
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24.07 |
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27.34 |
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(as a % of total
shareholding of promoter and promoter group) |
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- Percentage of
shares |
11.34 |
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11.34 |
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12.88 |
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(as a % of total
share capital on the company) |
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b) Non-encumbered |
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- Number of Shares |
1,38,09,347 |
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1,38,09,347 |
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1,32,13,947 |
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- Percentage of
shares |
75.93 |
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75.93 |
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72.66 |
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(as a % of total
shareholding of promoter and promoter group) |
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- Percentage of
shares |
35.76 |
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35.76 |
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34.22 |
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(as a % of total
share capital on the company) |
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Interest Income netted off in item (8) above |
2.96 |
2.01 |
6.40 |
4.05 |
10.24 |
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NOTES - |
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1 |
The above results were
reviewed by the Audit Committee and approved by the Board of Directors at
their meeting held on 28th October, 2009. The Statutory Auditors have carried
out a |
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limited review of these
results pursuant to Clause 41 of the Listing Agreement. |
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2 |
Status of investor
complaints for the quarter ended 30th September, 2009: |
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(a) Complaints pending
at the beginning of the quarter - None; |
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(b) Complaints received during the quarter - 32; |
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(c) Complaints disposed off during the quarter - 32; and |
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(d) Complaints
unresolved at the end of the quarter - None. |
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3 |
The (gain) / loss on
forward foreign exchange contracts in foreign currency, entered into to hedge
firm commitments and highly probable forecast transactions, which qualify for
hedge |
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accounting, have been
accounted under Hedging Reserve to be ultimately recognised in the profit and
loss account when the forecasted transactions arise, as per Accounting
Standard 30, |
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"Financial
Instruments: Recognition and Measurement", issued by the Institute of
Chartered Accountants of India. The unrealised loss in Hedging Reserve as at
30th September, 2009 is |
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Rs.19.17 crore (as at 30th September, 2008 Rs. Nil). |
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4 |
Pursuant to
notification of the Companies (Accounting Standards) Amendment Rules 2009 on
March 31, 2009, the Company has exercised the option of deferring the charge
to the profit and |
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loss account arising on
exchange differences on long term foreign currency monetary items. The
unamortized balance in the
foreign currency monetary item translation difference account |
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as on 30th September,
2009 is Rs.1.32 crore (as at 30th September, 2008 - Rs.Nil ). |
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5 |
The company has during
the quarter ended September 30, 2009 sold a part of the commercial building
under construction to its wholly owned subsidiary and recognized revenue of
Rs.80.85 |
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crore (quarter ended
September, 2008- Rs.Nil ), including revenue from the undivided interest in
the underlying freehold land therein amounting to Rs. 60.77 crore (quarter
ended September, |
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2008-Rs.Nil) in the profit and loss account. |
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6 |
Figures for the previous
periods have been regrouped / restated wherever necessary. |
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FOR THE BOMBAY DYEING
AND MANUFACTURING COMPANY LIMITED |
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P. V. KUPPUSWAMY |
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Mumbai: 28th October, 2009 |
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JOINT MANAGING DIRECTOR |
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