Rei Agro Regs Regulatory News (REA)

REI AGRO LIMITED

REGD. OFFICE

46C, CHOWRINGHEE ROAD,

"EVEREST HOUSE", KOLKATA-71.

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2008

(RS. IN LACS)

SL.NO.

PARTICULARS

NINE MONTHS ENDED 31.12.2007

QTR.  ENDED  31.03.2008

QTR.  ENDED  31.03.2007

YEAR ENDED 31.03.2008 (AUDITED)

YEAR ENDED 31.03.2007 (AUDITED)

INCOME

1

NET SALES/INCOME FROM OPERATION 

122,566.36 

62,809.55 

36,875.69 

185,375.91 

108,514.89 

2

OTHER INCOME

37.12 

331.54 

16.48 

368.66 

19.04 

3

TOTAL INCOME

122,603.48 

63,141.09 

36,892.17 

185,744.57 

108,533.93 

4

EXPENDITURE

A) (INCREASE)/DECREASE IN STOCK IN TRADE

(19,882.51)

8,199.10 

7,133.10 

(11,683.41)

8,629.40 

B) CONSUMPTION OF RAW MATERIALS 

97,288.85 

20,628.18 

14,911.86 

117,917.03 

66,761.41 

C) PURCHASE OF TRADED GOODS

13,946.66 

17,540.42 

6,354.75 

31,487.08 

6,354.75 

D) EMPLOYEES COST

1,173.72 

1,238.52 

232.57 

2,412.24 

918.97 

E) DEPRECIATION

1,509.53 

557.94 

416.49 

2,067.47 

1,555.70 

D) OTHER EXPENDITURE

6,642.35 

6,142.74 

3,265.81 

12,785.08 

5,984.78 

TOTAL EXPENDITURE

100,678.60 

54,306.90 

32,314.58 

154,985.49 

90,205.01 

5

INTEREST/FINANCE COST

11,604.13 

6,136.43 

3,264.63 

17,740.56 

7,724.65 

112,282.73 

60,443.33 

35,579.21 

172,726.05 

97,929.66 

6

PROFIT(+)/LOSS(-) FROM ORDINARY ACTIVITIES BEFORE TAX

10,320.75 

2,697.77 

1,312.96 

13,018.52 

10,604.27 

7

PROVISION FOR TAXATION-CURRENT

1,634.78 

440.22 

494.92 

2,075.00 

1,542.94 

8

PROVISION FOR FRINGE BENEFIT TAX 

10.00 

6.80 

(5.02)

16.80 

10.68 

9

PRIOR PERIOD EXPENSES

-

-

(57.33)

-

(57.33)

10

PRIOR PERIOD TAX EXPENSES

-

15.01 

-

15.01 

-

11

PROVISION FOR TAXATION-DEFERRED

-

-

(2,084.97)

-

-

12

NET PROFIT (+)/LOSS(-) FOR THE PERIOD

8,675.97 

2,235.74 

2,965.36 

10,911.71 

9,107.98 

13

PAID UP EQUITY SHARE CAPITAL

4,817.17 

4,491.66 

(FACE VALUE RS. 10 PER SHARE)

14

4% NON-CONVERTIBLE PREFERENCE SHARE

4,000.00 

4,000.00 

( FACE VALUE RS. 100/- PER SHARE)

15

RESERVE EXCLUDING REVALUATION RESERVE 

48,875.39 

37,722.85 

16

EARNING PER SHARE(EPS)

- BASIC 

17.97 

5.50 

7.41 

22.50 

22.30 

- DILUTED 

17.97 

5.50 

6.85 

22.50 

20.62 

17

 PUBLIC SHARE HOLDING

NO OF SHARES

31,448,517 

30,536,650 

28,193,370 

30,536,650 

28,193,370 

PERCENTAGE OF SHAREHOLDING

65.28 

63.39 

62.77 

63.39 

62.77 

SEGMENT WISE RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT

SL.NO.

PARTICULARS

NINE MONTH ENDED 31.12.2007

QTR.  ENDED  31.03.2008

QTR.  ENDED  31.03.2007

YEAR ENDED 31.03.2008 (AUDITED)

YEAR ENDED 31.03.2007 (AUDITED)

1

Segment Revenue (net sale/income from each

segment should be disclosed under this head)

a) Segment Rice

111,695.88 

58,462.96 

36,189.33 

170,158.84 

105,148.67 

b) Segment Retail

9,244.20 

9,229.60 

2.48 

18,473.80 

2.48 

c) Segment Windfarm 

1,626.28 

209.23 

683.88 

1,835.51 

3,363.74 

Total 

122,566.36 

67,901.79 

36,875.69 

190,468.15 

108,514.89 

Less: Inter Segment Revenue 

-

(5,092.25)

(5,092.25)

Net Sales/Income from operations

122,566.36 

62,809.54 

36,875.69 

185,375.90 

108,514.89 

2

Segment Results (Profit) (+)/Loss (-) before

Tax and Interest from each Segment 

a) Segment Rice

20,801.81 

8,284.42 

4,120.98 

29,086.23 

16,990.15 

b) Segment Retail

523.70 

376.36 

0.00 

900.06 

-

c) Segment Windfarm & Others

562.26 

(158.13)

440.13 

404.13 

1,319.73 

Results

21,887.77 

8,502.65 

4,561.11 

30,390.42 

18,309.88 

Less: i) Interest 

11,604.13 

6,136.43 

3,264.63 

17,740.56 

7,724.65 

ii) Other unallocable expenditure net 

(37.12)

(331.54)

(16.48)

(368.66)

(19.04)

off unallocable income

Total Profit before Tax 

10,320.76 

2,697.76 

1,312.96 

13,018.52 

10,604.27 

3

Capital Employed (Segment Assets - Segment

Liabilities) 

a) Segment Rice

51,887.78 

39550.33

45,577.37 

39,550.33 

45,577.37 

b) Segment Wind Farm & Others

7,147.55 

6989.85

7,302.31 

6989.85

7,302.31 

c) Segment Retail

7,221.71 

11152.41

385.32 

11152.41

385.32 

c) Unallocable

(8,817.96)

(0.03)

(7,050.49)

(0.03)

(7050.49)

Total 

57,439.08 

57,692.56 

46,214.51 

57,692.56 

46,214.51 

NOTES

1

 THE ABOVE FINANCIAL RESULTS HAVE BEEN REVEIWED BY THE AUDIT COMMITTEE AND TAKEN ON RECORD BY THE BOARD OF DIRECTORS AT MEETING HELD ON 30TH JUNE, 2008 

2

 DURING THE YEAR THE COMPANY HAS OPENED 319 RETAIL OUTLETS NAMED '6TEN' IN NORTH AND WESTERN INDIA., MAKING TOTAL NUMBER OF OPERATING OUTLETS AT 320 AS ON 31.03.2008. 

3

 DURING THE YEAR THE COMPANY HAS SET UP 10.2 MW OF WINDFARM CAPACITIES IN THE STATE OF GUJARAT.

4

 EFFECTIVE FROM 1ST APRIL 2007, THE COMPANY HAS COMPLIED WITH ACCOUNTING STANDARD 15 (REVISED 2005) ON 'EMPLOYEE BENEFITS' ISSUED BY THE ICAI. 

5

 THE BOARD HAS RECOMMENDED A DIVIDEND OF 15% ON THE EQUITY SHARES AND 4% ON THE PREFERENCE SHARES SUBJECT TO THE APPROVAL OF THE SHAREHOLDERS AT THE AGM OF THE COMPANY. 

6

 AS PER ORDER OF THE HON'BLE HIGH COURT AT KOLKATA , THE COMPANY HAS CHARGED RS.2315.63 LACS IN SECURITIES PREMIUM A/C TOWARDS DEFERRED TAX LIABILITY COMPUTED AS PER AS-22 ISSUED BY THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA. 

7

 IN TERMS OF AMENDED CLAUSE 41 OF THE LISTING AGREEMENT, DETAILS OF INVESTOTRS COMPLAINTS FOR THE QUARTER ENDED 31.03.2008 PENDING AT THE BEGINNING NIL RECEIVED NIL DISPOSED NIL AT THE CLOSING NIL 

8

THE COMPANY IN ITS BOARD MEETING HELD ON 24TH AUGUST 2007 PROPOSED THE SCHEME OF ARRANGEMENT FOR DEMERGER OF ITS RETAIL BUSINESS.THE SAID SCHEME IS UNDER CONSIDERATION OF THE HON'BLE HIGH CORT AT KOLKATA AND IF APPROVED THE SCHEME WILL BE EFFECTIVE FROM 25TH AUGUST 2007 PENDING WHICH NO EFFECT HAS BEEN GIVEN IN THE ACCOUNTS.

9

 PREVIOUS YEAR FIGURES HAVE BEEN REGROUPED/REARRANGED WHEREVER CONSIDERED NECESSARY . 

Date : 30TH JUNE 2008

 FOR AND ON BEHALF OF THE BOARD OF DIRECTORS 

Place : NEW DELHI

 SANDIP JHUNJHUNWALA 

 MANAGING DIRECTOR