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| Unaudited Financial Results For The Quarter Ended 30 th June 2008 |
| |
Rs. In Lacs |
| Consolidated Financials |
Independent Financials |
| Sl. No. |
Particulars |
Quarter Ended
( Un Audited ) |
For the Year Ended
( Audited ) |
Quarter Ended
( Un Audited ) |
For the Year Ended ( Audited ) |
| 30-Jun-08 |
30-Jun-07 |
31-Mar-08 |
30-Jun-08 |
30-Jun-07 |
31-Mar-08 |
| |
A ) Income |
1 |
2 |
3 |
5 |
6 |
8 |
| 1 |
Net Sales / Income from Operations |
923.11 |
1,056.33 |
4,599.82 |
898.41 |
858.06 |
3736.4 |
| 2 |
Other income |
6.61 |
0.56 |
63.06 |
2.96 |
5.77 |
61.19 |
| 3 |
Profit on Sale of Investment / Undertaking |
- |
- |
349.62 |
- |
- |
306 |
| 4 |
Total income ( 1+2+3 ) |
929.72 |
1,056.89 |
5,012.50 |
901.37 |
863.83 |
4,103.59 |
| 5 |
Expenditure |
|
|
|
|
|
|
|
a) ( Increase) / Decrease in stock in trade and Work In Progress |
10.10 |
(20.51) |
(35.13) |
10.10 |
(20.51) |
-35.13 |
|
b) Consumption of Raw Materials |
169.42 |
151.27 |
740.77 |
169.42 |
175.75 |
755.29 |
|
c) Purchase of Traded Goods |
95.35 |
173.07 |
663.28 |
119.24 |
140.84 |
631.82 |
|
d) Employees Cost |
394.13 |
286.06 |
1,370.54 |
377.53 |
219.43 |
1032.56 |
|
e) Depreciation |
50.05 |
49.21 |
259.73 |
50.05 |
25.06 |
140.43 |
|
f) Other Expenditure |
233.97 |
246.66 |
1,376.96 |
214.19 |
163.30 |
919.98 |
|
g) Total Expenditure |
953.02 |
885.76 |
4,376.15 |
940.53 |
703.87 |
3,444.95 |
| 6 |
Interest |
74.91 |
38.12 |
249.84 |
74.19 |
37.41 |
224.12 |
| 7 |
Exceptional Items |
- |
- |
38.09 |
- |
- |
38.09 |
| 8 |
Profit (+) / Loss (-) from Ordinary Activities Before tax (4)-(5+6+7) |
(98.21) |
133.01 |
348.42 |
(113.35) |
122.55 |
396.43 |
| 9 |
Tax Expense |
(21.06) |
31.42 |
141.43 |
(21.06) |
9.63 |
96.08 |
| |
a. Current Tax |
- |
11.29 |
50.53 |
- |
8.10 |
50.33 |
| |
b. Deferred Tax |
(23.53) |
17.34 |
69.61 |
(23.53) |
(0.36) |
27.12 |
| |
c. Fringe Benefit Tax |
2.47 |
3.31 |
12.48 |
2.47 |
1.89 |
10.15 |
| |
c. Taxes of earlier Years written off |
- |
- |
8.48 |
- |
- |
8.48 |
| 10 |
Minority interest |
(0.08) |
(0.52) |
0.33 |
- |
- |
- |
| 11 |
Net Profit (+) / Loss (-) from ordinary activities after tax ( 8-9-10) |
(77.07) |
102.11 |
206.66 |
(92.29) |
112.92 |
300.35 |
| 12 |
Extraordinary Items ( Net of Tax Expense ) |
- |
- |
- |
- |
- |
- |
| 13 |
Net Profit (+) / Loss (-) for the period ( 11-12) |
(77.07) |
102.11 |
206.66 |
(92.29) |
112.92 |
300.35 |
| 14 |
Paid up Equity share capital - Face Value Rs. 10 Each |
1,103.74 |
1,103.74 |
1,103.74 |
1,103.74 |
1,103.74 |
1,103.74 |
| 15 |
Reserves Excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year |
- |
- |
17.83 |
- |
- |
17.83 |
| 16 |
Basic and diluted EPS |
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|
|
|
|
|
|
a) Basic and diluted EPS before Extraordinary Items for the period , for the Year to date and for the Previous Year ( not to be Annualized) |
(0.70) |
0.71 |
(0.70) |
(0.84) |
0.82 |
(0.83) |
|
b) Basic and diluted EPS after Extraordinary Items for the period , for the Year to date and for the Previous Year ( not to be Annualized) |
(0.70) |
0.71 |
(0.70) |
(0.84) |
0.82 |
(0.83) |
| 17 |
Public Shareholding |
|
|
|
|
|
|
|
No.of shares |
4,569,463 |
4,566,463 |
4,719,911 |
4,569,463 |
4,566,463 |
4,719,911 |
|
% to total capital |
41.40% |
41.37% |
42.76% |
41.40% |
41.37% |
42.76% |
| 1. |
The results for the quarter ended June 30th 2008 have been taken on record at the Board of Directors in its meeting held on July 28th 2008. |
| 2. |
Consolidated Accounts for the quarter end includes the results of the following subsidiary companies incorporated as per AS 21 of the Companies (Accounting Standards) Rules, 2006. |
| |
| I |
M/s. Accel North America Inc. - 100% subsidiary; |
| II |
M/s. Accel Solutions Japan Inc. – 75% subsidiary; |
|
| |
The income and expenditure for the year ended 31.03.2008 and quarter ended 30.06.2007 includes operations of the Erstwhile Indian Subsidiary M/s Accel Academy Limited for the period up to 24.03.2008 on which date 51% of the companies holding in that company was divested. Proportionate share of Profit of that company has been considered in the consolidated financial statements for the quarter-ended 30.06.2008 as per AS 23 0f the Companies (Accounting Standards) Rules, 2006. |
| 3. |
1.Company has so far Invested Rs.17.22 crores in its Animation Division and both the units in animation division are operational as of 30th June 2008. Though there is a loss in Animation division during the quarter, the revenues commensurate with the investments are expected to accrue from the second quarter. |
| 4. |
(a) The investors who have subscribed to 25,50,000 convertible warrants at a price of Rs.33/- per warrant and have paid 10% of the amount equivalent to Rs.84.15 lacs have not yet exercised their option to convert the same into Equity Shares by paying the balance amount as per the terms of the issue. They are eligible to exercise this option on or before May 2009.
(b) The Company had redeemed its convertible preference shares ( 210000) on 15.05.2008. |
| 5. |
Information on Investor complaints(numbers) |
| |
Pending at the beginning of the quarter : NIL
Received during the quarter : 18
Resolved/replied during the quarter : 18
Unresolved at the end of the quarter since resolved : NIL |
| 6. |
The above results have been subjected to “Limited Review” by the statutory auditors of the company. |
| 7. |
Previous year/quarter figures have been regrouped/recasted wherever necessary, to make them comparable with the current period layout. |
| |
Place: Chennai
Date : July 28, 2008 |
For and on behalf of the Board Director |
|
| SEGMENTWISE REVENUE
& RESULTS |
(Rs in lakhs) |
| Sl.No |
Particulars |
| For the Quarter Ended 30th June |
For the Year Ended 31st March |
| 2008 |
2007 |
2008 |
| 1 |
Revenue by Industry segment |
|
|
|
|
Systems & Services |
477.01 |
529.22 |
2544.23 |
| Software Services |
281.31 |
276.14 |
1039.91 |
| Animation |
137.55 |
52.67 |
213.84 |
| Others |
2.57 |
0.03 |
312.28 |
| TOTAL |
898.44 |
858.06 |
4,110.26 |
| Less : Inter - segment revenue |
- |
- |
- |
| Net Revenue from Operations |
898.44 |
858.06 |
4,110.26 |
| 2 |
Segment profit before tax, interest, |
|
|
|
|
Systems & Services |
45.49 |
114.19 |
346.43 |
| Software Services |
53.13 |
29.84 |
141.24 |
| Animation |
(114.29) |
25.38 |
(23.26) |
| Others |
(26.06) |
- |
232.62 |
| TOTAL |
(41.73) |
169.41 |
697.03 |
| Less : Interest ( Net ) |
71.62 |
31.76 |
213.60 |
| Other un-allocable expenditure |
0.00 |
15.12 |
97.00 |
| (excluding un-allocable income) |
|
|
|
| Total Profit / ( Loss ) before tax |
(113.35) |
122.53 |
386.43 |
| 3 |
Capital Employed |
|
|
|
|
Segment Assets - Segment Liabilities |
|
|
|
| Systems & Services |
747.27 |
478.66 |
489.76 |
| Software Services |
346.85 |
276.78 |
198.22 |
| Animation |
451.61 |
115.76 |
561.21 |
| Total |
1,545.73 |
871.20 |
1,249.19 |
| 4 |
Revenue by Geography Segment |
|
|
|
|
Inside India |
617.06 |
581.92 |
2918.61 |
| Outside India |
281.38 |
276.14 |
1191.65 |
| Capital employed as also Assets and Liabilities of the Company are not capable of being stated separately geographically since all the assets and liabilities are held under composite undertaking for both the geographic segments. |
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