UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 30th September 2009
Rs. lacs
  Particulars Quarter Ended Half Year Ended Year Ended
30.09.2009 30.09.2008 30.09.2009 30.09.2008 31.03.2009
(Unaudited) (Unaudited) (Audited)
1 (a) Net Sales 4,783.81 5,086.17 8,928.77 9,901.83 17,133.79
  (b) Other Operating  Income 12.71 6.53 16.96 14.59 45.22
  Total Income 4,796.52 5,092.70 8,945.73 9,916.42 17,179.01
2. a) Decrease / (Increase) in stock in trade and work in progress (167.05) 112.96 (165.69) (63.21) 58.49
  b) Consumption of raw materials & components 2,382.49 2,506.45 4275.95 4906.17 8267.85
  c) Employee Cost 600.11 532.80 1,169.90 1,180.71 2166.96
  d) Power & Fuel 560.38 487.96 1,015.12 912.01 1702.07
  e) Depreciation 147.63 149.95 295.26 296.93 581.97
  f) Other expenditures 819.15 803.01 1,482.45 1,677.54 3,134.73
  Total Expenditure ( a ... f ) 4,342.71 4,593.13 8,072.99 8,910.15 1,5912.07
3 Profit from Operations before Other Income, Interest & Exceptional items (1-2) 453.81 499.57 872.74 1,006.27 1,266.94
4 Other Income 0.00 0.00 -  -  - 
5 Profit before Interest & Exceptional items (3+4) 453.81 499.57 872.74 1,006.27 1,266.94
6 Interest 65.83 64.04 137.92 118.44 235.43
7 Profit after Interest but before Exceptional items (5-6) 387.98 435.53 734.82 887.83 1,031.51
8  Exceptional items:          
  Ex-gratia to employees under Early Retirement Scheme - - - 1.92 6.15
9 Profit from Ordinary Activities Before Tax (7-8) 387.98 435.53 734.82 885.91 1,025.36
10 Tax expense          
  - Current Tax 88.24 158.00 215.98 323.00 397.73
  - Previous Year's Tax - - - - (233.00)
  - Deferred Tax (17.25) (5.50) (7.75) (13.50) (48.00)
  - Fringe Benefit Tax - 5.50 - 8.50 17.00
11 Net Profit from Ordinary Activities After Tax (9-10) 282.49 277.53 511.09 567.91 891.63
12 Extraordinary Items (net of tax expense)          
  Amount paid / refunded / payable to various banks 124.76 205.39 249.52 205.39 440.32
13 Net Profit for the period (11-12). 157.73 72.14 261.57 362.52 451.31
14 Paid up Equity Share Capital-Face Value-Rs.10/- each 393.46 271.35 393.46 271.35 271.35
15 Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year         7,061.09
16 Earnings Per Share (EPS) - in Rs.          
  a) Basic and diluted EPS before Extraordinary items (not annualised) - in Rs. 7.18 10.23 12.99 20.93 32.86
  b) Basic and diluted EPS after Extraordinary items (not annualised) - in Rs. 4.01 2.66 6.65 13.36 16.63
17 Public shareholding          
  - Number of shares  1,395,734 1,066,336 1,395,734 1,066,336 1,066,336
  - Percentage of shareholding 35.5% 39.3% 35.5% 39.3% 39.3%
18 Promoters and Promoter Group Shareholding          
  a. Pledged/Encumbered          
  - Number of shares  Nil Nil Nil Nil Nil
  - Percentage of shares (as a % of the total shareholding of the promoter and promoter group) Nil Nil Nil Nil Nil
  - Percentage of shares (as a % of the total share capital of the company) Nil Nil Nil Nil Nil
  b) Non-encumbered          
  - Number of shares  2,538,841 1,647,164  2,538,841 1,647,164 1,647,164
  - Percentage of shares (as a % of the total shareholding of the promoter and promoter group) 100.0% 100.0% 100.0% 100.0% 100.0%
  - Percentage of shares (as a % of the total share capital of the company) 64.5% 60.7% 64.5% 60.7% 60.7%


Note:

1

The operations of the Company relate only to one segment viz., friction materials.

2

Status of investor grievances for the Quarter ended 30th September 2009 :

Number of complaints received and disposed during the quarter - Nill. Number of complaints pending unresolved at the commencement and at the close of the quarter - NIL.

3

Note on losses arising from purported derivative transactions:

 

As reported in earlier publications and Annual Accounts, certain derivative transactions were purported to have been entered into on behalf of the Company with some banks. The disputes relating to such transactions with all banks have been settled. The net amount paid by the Company relating to the period has been shown as Extraordinary Expenditure (net of tax). If the Company defaults in case of its financial commitments under the said settlement, the entire amount claimed by the Bank (net of payments made) equivalent to Rs. 91.12 Crores would become payable.

4

The Company raised in June 2009, long term resource by way of issue of 12,21,075 Equity Shares of Rs. 10/- each with a premium of Rs. 112/- per share on Rights basis for total value of Rs. 14,89,71,150/-. The Board of Directors in their meeting held on 29th June 2009, allotted 12,21,075 equity shares of Rs. 10/- each which has resulted in the enhancement of equity share capital from Rs. 271,35,000/- to Rs. 3,93,45,750/- and accretion to share premium account for Rs. 13,67,60,400/-.

 

Details of utilisation of Proceeds of Rights Issue:

Rs. Crores

 

A. Total amount raised

14.89

 

 
 

B. Utilisation:

As per Offer Document

Actual incurred / used

Balance

 

Working Capital requirements

14.24

14.24

-

 

Issue expenses

0.65

0.51

0.14 *

 

14.89

14.75

0.14

* All the Rights Issue expenses have been met and paid for. Balance Rs. 0.14 Cr, being the savings in issue expenses has been used for Working Capital.

5

The above results were reviewed by the Audit Committee and taken on record by the Board of Directors at its meeting held on 27th October 2009 and a limited audit review of the same has been carried out by the Statutory Auditors.

6

Prior period figures have been regrouped wherever necessary to conform to current period classification.

On behalf of the Board
For SUNDARAM BRAKE LININGS LIMITED
Place: Chennai
29th October 2009 		K MAHESH
CHAIRMAN & MANAGING DIRECTOR
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