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(Rs in lakhs) |
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Year ended
March 31. |
(Audited) |
(Audited) |
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2010 |
2009 |
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|
(4) |
(5) |
| 1 |
Income |
|
|
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Freight & charter hire |
66,622.27 |
91,465.91 |
| |
Profit/(loss)-Sale of Ship(s) and other assets |
23,042.40 |
2,801.55 |
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Total Income |
89,664.67 |
94,267.46 |
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| 2 |
Expenditure
|
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a ) Staff cost (ashore and floating) |
12,154.66 |
11,315.73 |
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b ) Bunker cost |
6,764.40 |
7,642.59 |
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c ) Port expenses |
2,001.21 |
1,914.90 |
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d ) Stores, Lubs & Victualling |
3,850.43 |
3,887.41 |
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e
) Repairs & Maintenance including cost of Spares and Survey |
6,651.79 |
9,001.20 |
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f ) Depreciation |
23,649.33 |
27,114.03 |
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g ) Impairment loss on certain ships |
- |
938.22 |
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h ) Hire of inchartered ship |
4,594.03 |
2,684.26 |
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i ) Other expenditure |
6,586.11 |
7,637.27 |
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Total |
66,251.96 |
72,135.61 |
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| 3 |
Profit from Operations before Other Income, |
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Interest & Exceptional Items |
23,412.71 |
22,131.85 |
| 4 |
Other Income |
594.78 |
127.72 |
| 5 |
Profit before Interest & Exceptional Items
(3 plus 4) |
24,007.49 |
22,259.57 |
| 6 |
Interest |
19,319.94 |
14,548.01 |
| 7 |
(Loss)/Profit from ordinary activities
( 5 minus 6) |
4,687.55 |
7,711.56 |
| 8 |
Exceptional item |
701.06 |
5,000.00 |
| 9 |
(Loss)/Profit before tax |
5,388.61 |
12,711.56 |
| 10 |
Tax Expense |
|
|
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Current Tax (Refer note 4) |
4,135.85 |
346.00 |
| |
Fringe Benefits Tax (Excess provision for previous year) |
(2.53) |
85.00 |
| 11 |
Net (Loss)/Profit from Ordinary Activities after tax |
1,255.29 |
12,280.56 |
| 12 |
Paid- up equity share capital (face value Rs.10/-) |
15,000.78 |
15,000.78 |
| 13 |
Reserves excluding revaluation reserves |
66,195.06 |
66,339.21 |
| 14 |
EPS -Basic |
0.84 |
8.19 |
| 15 |
Public shareholding |
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- Number of shares |
84,401,847 |
80,252,003 |
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- Percentage of shareholding |
56.93 |
53.50 |
| 16 |
Promoters and promoter group Shareholding |
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a) Pledged/Encumbered |
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|
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- Number of shares |
26,300,000 |
9,445,770 |
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- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
40.71 |
13.54 |
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- Percentage of shares (as a % of the total share capital of the company) |
17.53 |
6.30 |
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b) Non-encumbered |
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|
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- Number of shares |
38,305,926 |
60,310,000 |
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- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
59.29 |
86.46 |
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- Percentage of shares (as a % of the total share capital of the company) |
25.54 |
40.20 |
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1 |
During the last quarter of the financial year ended 31st March,2010 : |
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a. The Company sold 1 LPG Carrier. |
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b. The company has sold 51% of the shares held by it in its wholly owned subsidiary viz. VSC International
Pte Ltd. |
2 |
Exceptional items include Rs 701.06 lacs towards profit on sale of investments for the current year ( Previous year Rs 5,000 lacs on account of write back of provision for exchange rate variation). |
3 |
The Directors have recommended a dividend of Rs 0.80 per share (previous year Rs 5.00 per equity share) and the total outgo will be Rs 1,399.38 lacs (Previous year Rs 8,775.17 lacs) |
4 |
Provision for current tax is based on the Minimum Alternate Tax payable under the provisions of the Income-tax Act, 1961, mainly arising from tax payable on the profit on sale of ships and other assets. |
5 |
There were 3 investor complaints pending as on January 1, 2010. 26 investor complaints were received during the quarter and 26 complaints were disposed off during the quarter. Hence 3 complaints remained unresolved on March 31,2010. |
6 |
The Company is engaged primarily in shipping business and there are no separate reportable segments as per Accounting Standard 17. |
7 |
Figures for the previous accounting periods have been regrouped wherever necessary. |
8 |
The above results have been reviewed by the Audit Committee at its meeting held on May 20, 2010 and have been approved by the Board of Directors of the Company at its meeting held on May 21,2010. |
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