(rs. lakhs) glaxosmithkline consumer healthcare limited audited financial results for the year ended...
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(RS. LAKHS)
GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITEDAUDITED FINANCIAL RESULTS FOR THE YEAR ENDED DEC EMBER 31, 2004
PARTICULARS
31-Dec-04 31-Dec-03 31-Dec-04 31-Dec-03
23989 21646 Gross Sales 98172 90895
2854 2608 Less : Excise Duty 11955 11244
21135 19038 Net Sales 86217 79651
715 751 Other Income 2549 2740
21850 19789 Total Revenues 88766 82391Expenditure:
58 27 a) (Increase)/Decrease in Stock in Trade 645 (414)
7253 6493 b) Consumption of Raw/Packing Materials 29764 27424143 171 c) Purchase of Finished Goods 809 803
7454 6691 d) Cost of Goods Sold (a+b+c) 31218 278133005 2441 e) Staff Cost (Net) 10063 91872916 2800 f) Advertising & Promotion 10145 9792
5167 5181 g) Other Expenses 20609 20091
18542 17113 Total Expenditure (d+e+f+g) 72035 66883Operating Profit Before Interest, Depreciation,
3308 2676 Amortisation,Taxation 16731 15508108 115 Interest 525 499
1003 889 Depreciation 3686 3578
2197 1672 Profit Before Amortisation, Taxation 12520 11431
Amortisation of:116 245 - Patents and Trade Marks (Depreciation) 461 980121 123 - Deferred Revenue Expenditure 491 493
1960 1304 Profit Before Taxation 11568 9958Provision for Taxation
599 491 - Current Charge 3870 3070
112 (1132) - Deferred Tax 382 (747)
1249 1945 Profit After Taxation 7316 7635
4538 4538 -Paid Up Equity Share Capital 4538 4538
10 10 -Face Value of Equity Shares-Rs. 10 10
-Reserves Excluding Revaluation Reserves 48397 44673
-Aggregate of Non -Promoter Shareholding
27228378 27228378 -Number of Shares 27228378 27228378
60 60 -Percentage of Shareholding 60 60
2.75 4.29Basic and Diluted EPS- ( Not Annualised for the Quarter) (Rs.)
16.12 16.82
3.70 3.70 Interim Dividend Per Share- (Rs.) 7.00 7.00
QUARTER ENDED(Limited Review) (Audited)
YEAR ENDED
NOTES
(1) The Company is focussed in the business of Nutritional Healthcare in India. Therefore, there is no reportable segment as per the provisions of Accounting Standard 17 on “Segment Reporting” issued by the Institute of Chartered Accountants of India.
(2) There were 3 pending investor complaints at the beginning of the quarter. During the quarter 118 complaints were received and resolved. No complaint was pending at the end of the quarter.
(3) In continuation of restructuring process , the Company has during the year offered exgratia payment to its temporary workers at Nabha plant. The above said offer being a present obligation which may result into outflow of Rs 433.50 lakhs (net of Rs 15.51 lakhs already paid) has been provided for in these financial results.
(4) The Company has initiated a long term incentive plan to maintain its competitiveness in attracting and retaining Senior Grade Managers. In terms of this plan, based on the group performance, the eligible employees after three years will be eligible to receive the incentive. Accordingly Rs 70 Lakhs, one third value likely to be paid has been provided for in these financial results.
(5) The board of directors, of the Company at their meeting held on December 10, 2004, proposed a buy-back of fully paid equity shares of a face value of Rs.10 each at a price not exceeding Rs. 370 per equity share and for an amount not exceeding Rs.12302.81 lakhs in accordance with the provisions of the Companies Act,1956 and Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, subject to approval from shareholders. The same does not have a financial impact on the profit of the Company for the quarter / year ended December 31, 2004.
GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITEDAUDITED FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2004
REGD. OFFICE:PATIALA ROAD, NABHA 147201 (PUNJAB).HEAD OFFICE:DLF PLAZA TOWER, DLF CITY PHASE I, GURGAON - 122002, HARYANA.
GURGAONJANUARY 28, 2005
ON BEHALF OF THE BOARD
NICHOLAS J. MASSEY MANAGING DIRECTOR
GLAXOSMITHKLINE CONSUMER HEALTHCARE LIMITEDAUDITED FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER, 31 2004
NOTES
(6) The shareholders of the Company have approved, by means of postal ballot, Special Resolution for buy back of equity shares of the company as covered in the notice dated 15th December, 2004 to the shareholders; the results of the postal ballot were declared on 20th January, 2005.
(7) Figures of previous quarter / year have been regrouped wherever necessary, to conform to this quarter’s/year’s classification.
(8) The above results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors of the company at its meeting held on January 28, 2005. The Limited Review by the Statutory Auditors , as required under Clause 41 of the Listing Agreement has been completed and the related report dated January 28, 2005 has been forwarded to the Stock Exchanges.