Lakshmi Precision Screws Limited
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   31st March 2011
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LAKSHMI PRECISION SCREWS LIMITED
Regd. Office: 46/1, Mile Stone,
Hissar Road, Rohtak - 124 001 (Haryana)
Audited Financial Results for the Year Ended 31st March, 2011
(Rs. In Lacs.)
   
  Standalone Consolidated
S. No. Particulars Quarter Ended Year Ended Year Ended Year Ended
31.03.2011 31.03.2010 31.03.2011 31.03.2010 31.03.2011 31.03.2010
  Domestic Sales (Net) 6692.66 5860.42 25522.71 19328.50 30078.49 22491.16
  Export Sales 1502.62 1062.14 5074.69 3469.23 5074.69 3469.23
1 Net Sales/ Income from Operations 8195.28 6922.56 30597.40 22797.73 35153.18 25960.39
2 Other Operating Income 83.15 4.35 118.15 21.83 126.36 42.15
3 Total Income (1+2) 8278.43 6926.91 30715.55 22819.56 35279.54 26002.54
4 Expenditure            
  a.(Increase)/ Decrease in stock in trade and work in progress (1010.76) (285.45) (1731.03) (311.98) (1953.95) (503.03)
   b. Consumption of raw materials 3921.32 2577.13 13152.10 8091.43 13152.10 8091.43
   c. Purchase of traded goods 0.00 0.00 0.00 0.00 0.00 0.00
   d. Employees cost 1143.40 1041.16 4631.01 3773.83 4994.47 4015.35
   e. Depreciation 594.99 324.52 1811.68 1239.08 1882.26 1310.00
   f. Other expenditure            
      - Sub contract charges 983.47 533.07 2396.66 1530.03 2380.67 1530.03
      - Others 2028.25 1827.91 7900.22 6265.33 11747.40 8943.78
  g. Total Expenditure (a+b+c+d+e+f) 7660.68 6018.34 28160.65 20587.73 32202.95 23387.56
5 Profit from Operations before other income, interest and exceptional Items (3-4) 617.76 908.55 2554.91 2231.82 3076.59 2614.98
6 Other Income       321.36        112.27 646.82 161.12 649.37 176.78
7 Profit before Interest & Exceptional Items (5+6) 939.11 1020.82 3201.72 2392.94 3725.96 2791.76
8 Interest 441.97 418.13 1834.66 1534.27 1874.34 1657.60
9 Profit after interest but before Exceptional Items (7-8) 497.15 602.69 1367.07 858.66 1851.62 1134.16
10 Exceptional Items 0.00 0.00 0.00 0.00 0.00 0.00
11 Profit from ordinary activities before tax (9+10) 497.15 602.69 1367.07 858.66 1851.62 1134.16
12 Tax Expenses            
  - Income Tax 76.99 366.58 325.52 484.02 497.97 586.42
  - Deferred Tax 82.76      (125.28) 150.93       (154.69) 116.10       (152.50)
  - Wealth Tax 0.55 0.21 2.60 1.72 2.60 1.72
  Total Tax Expenses 160.30 241.51 479.05 331.05 616.67 435.64
13 Net Profit from ordinary activities after tax (11-12) 336.85 361.18 888.02 527.61 1234.95 698.52
14 Extraordinary items (net of tax expense) 0.00 0.00 0.00 0.00 0.00 0.00
  Net Profit after Taxation (13-14) 336.85 361.18 888.02 527.61 1234.95 698.52
  Add : Share of Profit in Associates 0.00 0.00 0.00 0.00           (8.03)             (7.14)
15 Net Profit after Taxation & Share of Profit in Associates 336.85 361.18 888.02 527.61 1226.92 691.38
16 Paid-up equity share capital (Face value of Rs.10/- per share) 1094.17 1094.17 1094.17 1094.17 1094.17 1094.17
17 Reserves excluding Rev. Reserve as per balance sheet of previous year - - 8363.08 7656.26 10030.17 9033.11
18 Earnings Per Share (EPS) (Rs.)            
  (a) Basic and diluted EPS before Extraordinary items 3.08 3.30 8.12 4.82 11.21 6.32
  (b) Basic and diluted EPS after Extraordinary items 3.08 3.30 8.12 4.82 11.21 6.32
19 Public Shareholding:             
  No. of Shares 4031943 4031943 4031943 4031943    
  % of Shareholding 36.85 36.85 36.85 36.85    
20 Promoters and Promoter group            
  Shareholding            
  a) Pledge/ Encumbered            
  - Number of shares NIL NIL NIL NIL    
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group) NIL NIL NIL NIL    
  - Percentage of shares (as a % of the total share capital of the Company) NIL NIL NIL NIL    
  b) Non-encumbered            
  - Number of shares 6909724 6909724 6909724 6909724    
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 100.00 100.00 100.00    
  - Percentage of shares (as a % of the total share capital of the Company) 63.15 63.15 63.15 63.15    
Notes: 
1 Disclosure of Balance Sheet as per clauses 41(I)(ea) of the Listing Agreement for the year ended 31st March, 2011
(Rs. In Lacs.)
Standalone Consolidated
Year Ended Year Ended Year Ended Year Ended
  31.03.2011 31.03.2010 31.03.2011 31.03.2010
  Audited Audited Audited Audited
Shareholders' Funds:        
(a) Share Capital 1094.17 1094.17 1094.17 1094.17
(b) Reserves and Surplus 8363.08 7656.26 10041.84 9033.11
Sub Total 9457.25 8750.43 11136.01 10127.28
Loan Funds 14583.57 11986.06 14830.48 12258.79
MINORITY INTEREST 0.00 0.00 46.34 46.21
Deferred Tax Liabilities (net) 333.18 182.25 291.57 174.01
TOTAL 24374.00 20918.74 26304.40 22606.29
Fixed Assets 9184.16 5949.68 9611.25 6412.13
Investments 427.37 427.37 150.15 158.17
Current Assets, Loans and Advances        
(a) Inventories 17372.39 15478.48 18131.31 16018.23
(b) Sundry Debtors 6328.78 5353.51 7740.30 6571.49
(c) Cash and Bank balances 909.83 971.68 1001.33 1086.95
(d) Other Current Assets 474.85 198.54 475.25 206.08
(e) Loans and Advances 2043.42 1595.88 2170.51 1647.34
  27129.26 23598.09 29518.70 25530.09
Less: Current Liabilities and Provisions        
(a) Liabilities 12011.84 8603.66 12541.53 8991.54
(b) Provisions 391.84 470.03 471.06 519.85
Total Current Liabilities 12403.68 9073.69 13012.59 9511.39
Net Current Assets 14725.58 14524.40 16506.11 16018.70
Miscellaneous Expenditure (Not written off or adjusted) 36.89 17.29 36.89 17.29
TOTAL 24374.00 20918.74 26304.40 22606.29
               
2 The above financial results have been reviewed by the Audit Committee and then approved by the Board of Directors at their respective meetings held on May 30, 2011.
3 The Board has recommended a Dividend of Rs.1.50 per share (15%) for the financial year ended March 31, 2011 subject to the approval of the members.
4 The Company is operating only in one segment viz. Fasteners.
5 There is a change in accounting policy with regard to accounting treatment of Dies and Tools. Dies and Tools amounting of Rs.25.02 crores and having useful life of more than three years have been capitalised and depreciation has been charged accordingly. Due to such change profit for the period ending March 31, 2011 is lower by Rs.1.62 lacs.
6 Consolidated financial results include financial results of subsidiary company, associate concerns and joint ventures companies.
7 Previous year's figures have been regrouped/ rearranged wherever considered necessary to make them comparable with those of current year.
8 During the quarter investor complaint- Opening - Nil, Received - Nil, Resolved - Nil, Closing - Nil.
Place: New Delhi
Date : 30.05.2011
By order of the Board for
Lakshmi Precision Screws Ltd.
Lalit Kumar Jain
Chairman & Managing Director
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Notice: Universal Precision Screws is not a Group Company of Lakshmi Precision Screws Ltd.
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