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| Audited Financial Results For The Quarter & Year Ended 31 st March 2009 |
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Rs. In Lacs |
| Consolidated Financials |
Independent Financials |
| Sl. No. |
Particulars |
Quarter Ended
( Audited ) |
Twelve Months Ended
( Audited ) |
Quarter Ended
( Audited ) |
Twelve Months Ended
( Audited ) |
| 31-Mar-09 |
31-Mar-08 |
31-Mar-09 |
31-Mar-08 |
31-Mar-09 |
31-Mar-08 |
31-Mar-09 |
31-Mar-08 |
| 1 |
Net Sales / Income from Operations |
874.43 |
1,274.07 |
3,892.08 |
4,599.82 |
781.20 |
1,030.94 |
3,593.09 |
3,736.40 |
| 2 |
Profit on Sale of Investment / Undertaking |
- |
349.63 |
- |
349.63 |
- |
306.00 |
- |
306.00 |
| 3 |
Total income ( 1+2 ) |
874.43 |
1,623.70 |
3,892.08 |
4,949.45 |
781.20 |
1,336.94 |
3,593.09 |
4,042.40 |
| 4 |
Expenditure |
929.72 |
1,056.89 |
|
5,012.50 |
901.37 |
863.83 |
|
4,103.59 |
| |
a) ( Increase) / Decrease in stock in trade and Work In Progress |
(180.49) |
12.60 |
(217.43) |
(35.13) |
(180.49) |
12.60 |
(217.43) |
(35.13) |
| |
b) Consumption of Raw Materials |
82.02 |
(72.56) |
568.80 |
740.77 |
82.02 |
(69.92) |
568.80 |
755.29 |
| |
c) Purchase of Traded Goods |
165.55 |
473.73 |
662.53 |
663.28 |
153.30 |
462.85 |
577.08 |
631.82 |
| |
d) Employees Cost |
495.39 |
426.27 |
1,796.21 |
1,370.54 |
420.93 |
309.49 |
1,609.18 |
1,032.56 |
| |
e) Depreciation |
83.37 |
92.98 |
250.36 |
259.73 |
83.37 |
59.58 |
250.36 |
140.43 |
| |
f) Other Expenditure |
363.72 |
652.64 |
1,028.00 |
1,376.96 |
299.55 |
429.99 |
921.69 |
919.97 |
| |
g) Total Expenditure |
1,009.56 |
1,585.66 |
4,088.47 |
4,376.15 |
858.68 |
1,204.59 |
3,709.68 |
3,444.94 |
| 5 |
Interest |
98.07 |
125.51 |
357.73 |
249.85 |
96.61 |
101.70 |
349.40 |
224.13 |
6
|
Exceptional Items |
68.51 |
38.09 |
68.51 |
38.09 |
68.51 |
38.09 |
68.51 |
38.09 |
7
|
Profit (+) / Loss (-) from Ordinary Activities Before tax (3)-(4+5+6) |
(301.71) |
(125.56) |
(622.63) |
285.36 |
(242.60) |
(7.44) |
(534.50) |
335.24 |
| 8 |
Tax Expense |
5.89 |
(23.56) |
(6.91) |
141.09 |
6.01 |
(18.89) |
(8.23) |
96.08 |
| |
a. Current Tax |
(0.12) |
1.01 |
1.32 |
50.53 |
- |
8.75 |
- |
50.33 |
| |
b. Deferred Tax |
- |
(38.20) |
(23.53) |
69.59 |
- |
(41.05) |
(23.53) |
27.12 |
| |
c. Fringe Benefit Tax |
6.01 |
5.15 |
15.30 |
12.49 |
6.01 |
4.93 |
15.30 |
10.15 |
| |
d. Taxes of earlier Years written off |
- |
8.48 |
- |
8.48 |
- |
8.48 |
- |
8.48 |
| 9 |
Minority interest |
(0.99) |
1.94 |
(0.33) |
0.33 |
- |
- |
- |
- |
| 10 |
Net Profit (+) / Loss (-) from ordinary activities after tax ( 8-9-10) |
(306.61) |
(103.94) |
(615.39) |
143.94 |
(248.61) |
11.45 |
(526.27) |
239.16 |
| 11 |
Other Income |
78.41 |
53.13 |
102.64 |
63.06 |
78.34 |
36.89 |
83.44 |
61.19 |
| 12 |
Extraordinary Items ( Net of Tax Expense ) |
- |
- |
- |
- |
- |
|
- |
- |
| 13 |
Net Profit (+) / Loss (-) for the period ( 11-12) |
(228.20) |
(50.81) |
(512.75) |
207.00 |
(170.27) |
48.34 |
(442.83) |
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 |
1,103.74 |
1,103.74 |
| 15 |
Reserves Excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year |
|
|
|
17.83 |
|
|
- |
17.83 |
| |
Basic and diluted EPS |
|
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|
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|
|
|
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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) |
(1.73) |
0.38 |
(4.54) |
1.84 |
(1.90) |
0.62 |
(3.92) |
2.69 |
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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) |
(2.47) |
0.38 |
(4.65) |
1.84 |
(1.95) |
0.62 |
(4.02) |
2.69 |
| 17 |
Public Shareholding |
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No.of shares |
|
|
4,445,949 |
4,719,911 |
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4,445,949 |
4,719,911 |
|
% to total capital |
|
|
40.28% |
42.76% |
|
|
40.28% |
42.76% |
| 1. |
The results for the quarter & year ended 31st March 2009 have been taken on record at the Board of Directors in its meeting held on 25th May 2009. |
| 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 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 loss of that company has been considered in the consolidated financial statements for the quarter & year ended 31.03.2009 as per AS 23 0f the Companies (Accounting Standards) Rules, 2006 under other expenditure. |
|
| 3. |
Company has so far incurred a net expenditure of Rs. 24.35 Crores in its Animation Division till 31.03.2009 and accordingly, there has been substantial increase in depreciation and interest costs. |
| 4. |
a) The investors who have subscribed to issue of 25,50,000 convertible warrants at a price of Rs.33/- per warrant on a preferential basis and have paid 10% of the amount equivalent to Rs.84.15 lacs as per the terms of the issue 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 the 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 |
: 4 |
| Resolved/replied during the quarter |
: 4 |
| Unresolved at the end of the quarter since resolved |
: NIL |
|
| 6. |
4)Previous year/quarter figures have been regrouped / recasted wherever necessary, to make them comparable with the current period layout. |
| |
Place: Chennai
Date : 25.05.2009 |
For and on behalf of the Board
S T Prabhu
Company Secretary. |
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| SEGMENTWISE REVENUE
& RESULTS |
(Rs in lakhs) |
| Sl.No |
Particulars |
| For the Year Ended 31st March |
For the Quarter Ended 31st March |
| 2009 |
2008 |
2009 |
2008 |
| 1 |
Revenue by Industry segment |
|
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|
|
|
Systems & Services |
1892.91 |
2544.22 |
369.44 |
643.80 |
| Software Services |
1124.56 |
1039.91 |
250.45 |
233.29 |
| Animation |
604.70 |
213.84 |
190.28 |
23.62 |
| Others |
3.55 |
312.29 |
(0.99) |
306.00 |
| Net Revenue from Operations |
3,625.72 |
4,110.26 |
809.18 |
1,206.71 |
| Less : Inter - segment revenue |
- |
- |
|
- |
| Net Revenue from Operations |
898.44 |
858.06 |
|
4,110.26 |
| 2 |
Segment profit before tax, interest, |
|
|
|
|
|
Systems & Services |
117.90 |
346.43 |
(50.46) |
2.75 |
| Software Services |
224.19 |
141.24 |
7.52 |
18.37 |
| Animation |
(242.52) |
(23.26) |
87.84 |
(88.49) |
| Others |
(140.03) |
232.62 |
(140.03) |
232.63 |
| TOTAL |
(40.46) |
697.03 |
(95.13) |
165.26 |
| Less : Interest ( Net ) |
342.09 |
203.60 |
93.72 |
98.31 |
| Other un-allocable expenditure |
68.51 |
97.00 |
(24.58) |
37.50 |
| (excluding un-allocable income) |
|
|
|
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| Total Profit / ( Loss ) before tax |
(451.06) |
396.43 |
(164.27) |
29.45 |
| 3 |
Capital Employed |
|
|
|
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Segment Assets - Segment Liabilities |
|
|
|
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| Systems & Services |
509.83 |
489.76 |
509.83 |
489.76 |
| Software Services |
481.50 |
198.22 |
481.50 |
198.22 |
| Animation |
849.52 |
561.21 |
849.52 |
561.21 |
| Total |
1,840.85 |
1,249.19 |
1,840.85 |
1,249.19 |
| 4 |
Revenue by Geography Segment |
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Inside India |
2,073.23 |
2,918.61 |
370.84 |
967.79 |
| Outside India |
1,552.49 |
1,191.65 |
438.34 |
238.92 |
| 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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