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| Unaudited Results for the Quarter and Nine Months Ended 31 st December 2009 |
(Rs in lakhs) |
Accel Transmatic Limited
Regd office : TC 17 / 27 Jagathy , Jera 20 , Trivandrum - 695014
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Consolidated |
Standalone |
| S.
No |
Particulars |
Quarter Ended
( Un Audited ) |
Nine Months Ended
( Un Audited ) |
Year Ended
( Audited ) |
Quarter Ended
( Un Audited ) |
Nine Months Ended
( Un Audited ) |
Year Ended
( Audited ) |
| 31-Dec-09 |
31-Dec-08 |
31-Dec-09 |
31-Dec-08 |
31-Mar-09 |
31-Dec-09 |
31-Dec-08 |
31-Dec-09 |
31-Dec-08 |
31-Mar-09 |
| 1 |
Net Sales / Income from Operations |
492.65 |
883.47 |
1,282.21 |
3,017.64 |
3,892.08 |
372.25 |
852.51 |
963.21 |
2,811.89 |
3,593.09 |
| 2 |
Total income
|
492.65 |
883.47 |
1,282.21 |
3,017.64 |
3,892.08 |
372.25 |
852.51 |
963.21 |
2,811.89 |
3,593.09 |
| 3 |
Expenditure |
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a) ( Increase) / Decrease in stock in trade and Work In Progress |
(102.95) |
(19.80) |
(208.99) |
12.55 |
(217.43) |
(102.95) |
(19.80) |
(208.99) |
12.55 |
(217.43) |
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b) Consumption of Raw Materials |
- |
147.78 |
- |
486.78 |
568.80 |
(0.00) |
147.78 |
(0.00) |
486.78 |
568.80 |
| |
c) Purchase of Traded Goods |
52.50 |
114.09 |
52.50 |
447.48 |
662.53 |
12.28 |
110.49 |
12.28 |
374.29 |
577.08 |
| |
d) Employees Cost |
335.13 |
465.58 |
1,052.72 |
1,300.82 |
1,796.21 |
270.74 |
413.62 |
846.36 |
1,188.25 |
1,609.18 |
| |
e) Depreciation |
68.14 |
65.91 |
202.69 |
166.99 |
250.36 |
68.14 |
65.91 |
202.69 |
166.99 |
250.36 |
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f) Other Expenditure |
174.66 |
210.01 |
626.35 |
664.29 |
1,096.51 |
162.24 |
202.90 |
483.39 |
622.15 |
990.20 |
| |
g) Total Expenditure |
527.49 |
983.56 |
1,725.28 |
3,078.91 |
4,156.98 |
410.45 |
920.89 |
1,335.72 |
2,851.00 |
3,778.19 |
| 4 |
Interest |
64.75 |
93.39 |
224.76 |
259.66 |
357.73 |
63.59 |
89.30 |
220.60 |
252.78 |
349.40 |
| 5 |
Exceptional Items - Profit on Sale of Undertaking |
(287.30) |
|
(459.01) |
- |
- |
(234.00) |
|
(405.70) |
- |
- |
| 6 |
Profit (+) / Loss (-) from Ordinary Activities
Before tax (2)-(3+4+5) |
187.71 |
(193.48) |
(208.83) |
(320.92) |
(622.63) |
132.21 |
(157.68) |
(187.41) |
(291.89) |
(534.50) |
| 7 |
Tax Expense |
- |
4.41 |
- |
(12.81) |
(6.91) |
- |
3.42 |
- |
(14.24) |
(8.23) |
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a. Current Tax |
- |
1.01 |
- |
1.44 |
1.32 |
- |
|
- |
- |
- |
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b. Deferred Tax |
- |
- |
- |
(23.53) |
(23.53) |
- |
|
- |
(23.53) |
(23.53) |
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c. Fringe Benefit Tax |
- |
3.40 |
- |
9.28 |
15.30 |
- |
3.42 |
- |
9.29 |
15.30 |
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d. Taxes of earlier Years written off |
- |
- |
- |
- |
- |
- |
|
- |
- |
- |
| 8 |
Minority interest |
(0.55) |
(2.71) |
(5.61) |
0.66 |
(0.33) |
- |
|
- |
- |
- |
| 9 |
Net Profit (+) / Loss (-) from ordinary activities
after tax (6- 7-8) |
188.27 |
(195.18) |
(203.22) |
(308.77) |
(615.39) |
132.21 |
(161.10) |
(187.41) |
(277.65) |
(526.27) |
| 10 |
Other Income |
4.59 |
0.35 |
5.94 |
24.23 |
102.64 |
4.58 |
0.56 |
5.99 |
5.10 |
83.44 |
| 11 |
Extraordinary Items ( Net of Tax Expense ) |
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- |
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- |
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- |
|
- |
| 12 |
Net Profit (+) / Loss (-) for the period ( 9-10-11) |
192.85 |
(194.83) |
(197.28) |
(284.54) |
(512.75) |
136.79 |
(160.54) |
(181.41) |
(272.55) |
(442.83) |
| 13 |
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 |
1,103.74 |
1,103.74 |
| 14 |
Reserves Excluding Revaluation Reserves as per Balance Sheet of Previous Acc -ountingYear |
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17.83 |
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- |
- |
17.83 |
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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 beAnnualized) |
(0.37) |
(1.73) |
(5.95) |
(2.52) |
(4.54) |
(0.88) |
(1.42) |
(5.32) |
(2.42) |
(3.92) |
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b) Basic and diluted EPS before Extraordinary Items for the period , for the Year to date and for the Previous Year (not to beAnnualized) |
1.75 |
(1.77) |
(1.79) |
(2.58) |
(4.65) |
1.24 |
(1.45) |
(1.64) |
(2.47) |
(4.02) |
| 15 |
Public Shareholding |
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No.of shares |
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4,445,949 |
4,473,842 |
4,445,949 |
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4,445,949 |
4,473,842 |
4,445,949 |
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% to total capital |
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40.28% |
40.53% |
40.28% |
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40.28% |
40.53% |
40.28% |
| 16 |
Promoters and Promoter Group Shareholding |
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Pledged / Encumbered |
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Number of Shares |
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1,300,000 |
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800,000 |
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1,300,000 |
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800,000 |
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Percentage of Shares (as a % of the total shareholding of promoter and promoter group) |
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19.72 |
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12.14 |
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19.72 |
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12.14 |
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Percentage of Shares (as a % of the total share capital of the company) |
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11.78 |
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7.15 |
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11.78 |
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7.15 |
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Non Encumbered |
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Number of Shares |
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5,291,452 |
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5,791,452 |
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5,291,452 |
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5,791,452 |
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Percentage of Shares (as a % of the total shareholding of promoter and promoter group) |
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80.28 |
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87.86 |
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80.28 |
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87.86 |
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Percentage of Shares (as a % of the total share capital of the company) |
|
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47.94 |
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52.57 |
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47.94 |
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52.57 |
| SEGMENTWISE REVENUE
& RESULTS |
(Rs in lakhs) |
| S.No |
Particulars |
For the Quarter Ended
31 st December |
For the Nine Months Ended
31 st December |
For the Year Ended 31 st March |
| 2009 |
2008 |
2009 |
2008 |
2009 |
| 1 |
| Revenue
by industry segment |
| Systems & Services |
| Software Services |
| Animation |
| Others |
| Net Revenue from Operations |
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| 362.79 |
| 315.61 |
| 53.48 |
| 235.96 |
| 605.05 |
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| 451.77 |
| 331.39 |
| 69.46 |
| - |
| 852.62 |
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| 788.38 |
| 180.00 |
| 407.70 |
| 1,376.07
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| 1,523.47 |
| 874.12 |
| 414.42 |
| 4.54 |
| 2,816.55 |
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| 1,892.91 |
| 1,124.56 |
| 604.70 |
| 3.55 |
| 3,625.72 |
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| 2 |
| Segment
profit before tax, interest |
| Systems & Services |
| Software Services |
| Animation |
| Others |
| Total |
| Less:
Interest (Net) |
| Other
un-allocable expenditure |
| (excluding un-allocable income) |
| Total
Profit/(Loss) before Tax |
|
| - |
| 56.73 |
| (83.94) |
| 226.90 |
| 199.69 |
| 62.90 |
| - |
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| 136.79 |
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| (7.11) |
| 111.60 |
| (144.93) |
| - |
| (40.44) |
| 89.01 |
| 27.67 |
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| (157.12)
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| - |
| 43.77 |
| (364.84) |
| 358.19 |
| 37.11 |
| 218.53 |
| - |
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| 181.41 |
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| 168.35 |
| 216.68 |
| (330.36) |
| - |
| 54.67 |
| 248.38 |
| 93.09 |
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| (286.79) |
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| 117.90 |
| 224.19 |
| (242.52) |
| (140.03) |
| (40.46) |
| 342.09 |
| 68.51 |
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| (451.06)
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| 3 |
Capital
Employed
Segment Assets - Segment Liabilities |
| Systems &
Services |
| Software
Services |
| Animation |
| Total |
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| - |
| 368.21 |
| 455.79 |
| 824.00 |
1,154.34
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| 706.17 |
| 492.81 |
| 593.54 |
| 1,792.52 |
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| - |
| 368.21 |
| 455.79 |
| 824.00 |
1,154.34
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| 706.17 |
| 492.81 |
| 593.54 |
| 1,792.52 |
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| 509.83 |
| 481.50 |
| 849.52 |
| 1,840.85 |
1,154.34
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| 4 |
| Revenue by Geography Segment |
| Inside India |
| Outside India |
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| 1. |
The un audited results for the Quarter & Nine months ended 31st December 2009 reviewed by the statutory auditors of the company have been taken on record at the meeting of Board of Directors held on 30th January 2010. |
| 2. |
The company pursuant to the approval of the members by way of a postal ballot conducted on 12.10.2009, has sold its Systems and Services Division for a consideration of Rs. 960 Lacs W.E.F 01st April 2009. The profit on sale of the undertaking amounting to Rs. 170.61 Lacs has been disclosed as profit on sale of Undertaking under Exceptional Items. Hence, the figures of the corresponding previous period (Quarter & Nine Months ended 31.12.2008) which includes the results of the Systems & Services division is not comparable as such. |
| 3. |
The company has sold 39% out of the 49% of its investment in Accel IT Resources Limited (Formerly Accel Academy Limited) to Accel Limited & its subsidiary during the quarter and the profit on sale of such investments amounting to Rs.234 Lacs is shown as Profit on sale of Investment under Exceptional Items. |
| 4. |
1)During the quarter the company completed the animation work of a full length 100 minutes animated feature film for a client, which is a milestone achieved demonstrating the technical capabilities of the company in the field of Animation. The company is expected to bag such orders in future. The company will get 15% of the profits from the feature film in addition to the development charges already received. |
| 5. |
During the quarter the company concluded an agreement with a company based in Canada to produce a 78-episode serial based on the IPR owned by them on a fifteen-year license. The company proposes to invest funds to produce the same in the next two years in two phases of 39 episodes each. This license together with the company’s own IPR (South India Fables) which was under production for 2.5 years is ready for International distribution as a 26 X 11 minutes episode in 3D HD quality and is expected to generate reasonable revenues for the company in the coming years. |
| 6. |
a) 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;
b) As the company ceases to hold substantial interest as on 01.10.2009 in Accel IT Resources Limited (Formerly Accel Academy Limited), within the meaning of Accounting Standards 23 of the Companies Rules 2006 the proportionate results of that company has been included in the consolidated accounts for the period upto 30.09.2009. Previous year figure includes the proportionate results of the Associate Company for the full period. |
| 7. |
Information on Investor complaints (numbers)
Pending at the beginning of the quarter : Nil
Received during the quarter : 3
Resolved / replied during the quarter : 3
Unresolved at the end of the quarter since resolved : Nil |
| 8. |
Previous period/ year figures have been regrouped / recasted wherever necessary, to make them comparable with the current period/ year layout. |
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Place:Chennai
Date : January 30th, 2010 |
For & On behalf
of the Board,
N.R. PANICKER
CHAIRMAN. |
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