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Quarter 1 Results 2004-05


Havells INDIA LIMITED
Regd. Office : 1/7, Ram Kishore Road, Civil Lines, Delhi 110 054
Corporate Off.: E-1, Sector - 59, Noida - 201 307

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2004
(Rs. in crores)
Particulars Quarter Ended Year ended
  30-Jun-04 30-Jun-03
31-Mar-04
  (Unaudited) (Audited)
Gross Sales
132.10
 82.55
419.22
Excise Duty
16.06
 11.03
56.28
Net Sales
116.04
 71.52
362.94
Other Income
0.60
 1.19
7.60
Total Income
116.64
 72.71
370.54
Total Expenditure
104.65
 64.46
325.82
a) Increase/Decrease in Stock in trade
(9.61)
 -1.10
-14.23
b) Consumption of raw material
74.78
 42.22
217.35
c) Staff Cost
5.32
 3.62
16.67
d) Other expenditure
34.16
 19.72
106.03
Interest
2.69
 2.81
11.97
Depreciation
0.80
 0.63
2.64
Profit before taxation
8.50
4.81
30.11
Provision for Taxation    
- Income Tax
3.17
 1.58
9.56
- Deferred Tax
0.01
 0.15
-0.41
Net Profit
5.32
3.08
20.96
Paid up Capital (Face value of Rs.5/- each)
5.80
 5.80
5.80
Reserves
---
---
53.57
(excluding revaluation reserves)
 
  
Basic and Diluted E.P.S. for the period (not annualised) (in Rs.)
4.58
 2.66
18.07
Aggregate of non-promoter shareholding
 
  
 
a) No. of Shares 3507440   3507440
b) Percentage of shareholding 30.26   30.26
 
SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED
FOR THE QUARTER ENDED JUNE 30, 2004
(Rs. in crores)
Particulars Quarter Ended Year ended
  30-Jun-04 30-Jun-03 31-Mar-04
  (Unaudited) (Audited)
Segment Revenue (Incl.Other Income)      
a) Switchgear 47.92 33.291 159.71
b) Meters 3.59 15.07 60.09
c) Cable & Wire 56.59 35.07 176.17
d) Electrical Consumer Durables 24.75 --- 26.06
e) Others 0.41 1.04 6.58
Total
133.26
84.47
428.61
Less : Inter Segment Revenue 0.56 0.73 1.79
Sales/ Income from Operations
132.70
83.74
426.82
Segment Results
(Profit(+)/Loss(-)before Tax and Interest from each Segment) 		     
a) Switchgear 13.19 7.65 37.83
b)Meters 0.57 1.48 8.83
c) Cable & Wire 4.92 4.00 18.98
d) Electrical Consumer Durables 1.78 --- 2.21
e) Other 0.39 1.01 6.19
Total
20.85
14.14
74.04
Less:
(i) Interest		 2.69 2.81 11.97
(ii) Other un-allocable expenditure net of un-allocable income 9.66 6.52 31.96
Total Profit before Tax
8.50
4.81
30.11
Capital Employed (Segment assets - Segment liabilities)      
a) Switchgear 75.71 43.31 66.28
b) Meters 22.08 49.56 29.21
c) Cable & Wire 58.61 42.28 47.96
d) Electrical Consumer Durables 34.68 --- 18.61
e) Others 2.34 23.39 3.39
 
193.42
158.54
268.55


Notes:

1. The figures of the previous year/ period have been regrouped and adjusted wherever required to make it comparable with corresponding current year / period.

2. There were no complaints from investors outstanding at the beginning of the quarter or received during the quarter ended June 30, 2004.

3. In line with Accounting Standard 28 issued by ICAI on 'Impairment of Assets', provisions of impairment, if any, will be adjusted against Opening General Reserve at the end of financial year.

4. A major expansion at Switchgear and Cable Divisions of the Company is going on at Baddi (Himachal Pradesh) and Alwar respectively.

5. The above results were taken on record in the meeting of the Board of Directors held on July 19, 2004

6. These results are limited reviewed by the Auditors of the Company.
By Order of the Board
For Havells India Limited
 
Delhi, July 19, 2004 Qimat Rai Gupta
Chairman Cum Managing Director