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To
The Shareholders
The Directors have the pleasure of presenting the Thirty Eighth Annual Report of your Company
together with the audited accounts for the year ended 31st March, 2011.
FINANCIAL RESULTS
The summary of consolidated (Company and its subsidiaries) and standalone (Company) operating
results for the year and appropriation of divisible profits is given below:
| ('in Crores except per share data) |
| |
Consolidated |
Standalone |
| |
2010-11 |
2009-10 |
2010-11 |
2009-10 |
| Sales & Operating Income |
2226 |
1916 |
1778 |
1449 |
| Profit Before Depreciation Interest and Tax (PBDIT) |
417 |
430 |
430 |
422 |
| Less Depreciation |
62 |
66 |
58 |
54 |
| Less Net Interest Expense |
12 |
17 |
14 |
17 |
| Profit Before Exceptional Items & Tax |
343 |
347 |
358 |
351 |
| Less Exceptional Items |
0 |
0 |
0 |
37 |
| Less Tax Expense |
73 |
116 |
67 |
107 |
| Net Profit for the year |
270* |
231 |
291 |
207 |
| Balance brought forward |
119 |
3 |
178 |
86 |
| Distributable Profits |
389 |
234 |
469 |
293 |
| Appropriated as under: |
|
|
|
|
| Transfer to General Reserve |
153 |
56 |
153 |
56 |
| Proposed Equity Dividend |
68 |
51 |
68 |
51 |
| Tax on Distributed Profits |
11 |
8 |
11 |
8 |
| Balance Carried Forward |
157 |
119 |
237 |
178 |
| Earnings Per Share ('Per share) |
31.93 |
27.32 |
34.38 |
24.51 |
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*Consolidated Net Profit for the year is net of minority interest amounting to '(0 .41) Lacs
Consolidated Operating Results
The consolidated sales and operating income increased to '2226.48 crores from '1916.04 crores in the
previous year yielding a growth of 16.20%. The consolidated operating profit for the year was '417.29
crores as against '429.81 crores in the previous year registering a decrease of 2.91%. The consolidated
net profit increased to '270.17 crores from '231.20 crores in the previous year registering a growth of
16.86%. During the previous year, MAT credit entitlement of '52.86 crores was written off. Adjusting for
the same, consolidated net profit has de-grown by 4.89%.
Standalone Operating Results
The sales and operating income increased to '1778.19 crores from '1448.96 crores in the previous year
yielding a growth of 22.72%. The operating profit for the year under review increased to '430.52 crores
as against '422.03 crores in the previous year registering a growth of 2.01%. The profits after tax for the
year under review increased to '290.86 crores as against '207.37 crores in the previous year registering
a growth of 40.26%. Growth in the net profit adjusted for the MAT write off as stated above is 11.77%.
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