Motherson Sumi Systems Limited - Investor Relations

(Rs. in Millions)

Particulars

Quarter ended
Sept. 30, 2001
Unaudited

Quarter ended
Sept. 30, 2000
Unaudited

Half year ended
Sept. 30, 2001
Audited

Half year ended
Sept. 30, 2000
Unaudited

Year ended
March 31, 2001
Audited

Net Sales/Income from Operations
Other Income

Total Income

Total Expenditure:
a) Increase/Decrease in stock-in-trade
b) Consumption of Raw Materials
c) Staff Cost
d) Other expenditure

Profit before Interest, Depreciation and Tax
Interest

Profit before Depreciation & Tax
Depreciation

Profit before Tax
Provision for Taxation - Current
- Deferred

Profit after Tax

Paid up Equity Share Capital
Face value of Share (Rs.)

Reserves (Excluding Revaluation Reserves)

Basic EPS
Diluted EPS

Aggregate of Non-Promoter Shareholding
- Number of Shares
- Percentage of Shareholding

707.99
34.49

742.48

587.78
(42.69)
362.78
68.84
198.85

154.70
25.57

129.13
46.73

82.40
3.35
35.40

43.65

156.59
10.00

2.79
2.79

4644913
29.66%

583.52
16.27

599.79

489.33
(13.49)
331.90
39.36
131.56

110.46
13.87

96.59
26.65

69.94
22.06
--

47.88

104.39
10.00

3.06
3.06

1387.47
37.51

1424.98

1137.18
(32.37)
728.81
123.13
317.61

287.80
56.69

231.11
88.35

142.76
8.47
35.40

98.89

156.59
10.00

6.32
6.32

4644913
29.66%

1176.69
27.12

1203.81

979.30
(5.65)
688.71
73.65
222.59

224.51
28.17

196.34
46.74

149.60
43.00
--

106.60

104.39
10.00

6.81
6.81

2303.68
49.49

2353.17

1914.78
(9.91)
1226.00
151.07
547.62

438.39
52.82

385.57
114.60

270.97
106.00
--

164.97

156.59
10.00

731.63

10.54
10.54

4659913
29.75%

NOTE:

The above financial results were approved by the Board Of Directors of the Company at its meeting held on 30th November, 2001.
During the six months ended September 30, 2001, the Company has acquired 2,597,220 shares representing 47% of Motherson Sumi Electric Wires Limited (MSEW). Consequently MSEW has become a wholly owned subsidiary of the Company. The Board of directors of both these Companies and Board of directors of Motherson Automotive Technologies and Engineering Limited (MATE), a wholly owned subsidiary of the Company, have decided to amalgamate MSEW and MATE into Motherson Sumi Systems Limited with effect from April 1, 2001. Accordingly the Scheme of amalgamation was filed with Delhi High Court on July 12, 2001. The scheme has been approved both by the creditors and shareholders of the Company at the meeting held on September 1, 2001, subject to approval by the High Court of Delhi. The merger is accounted for by pooling of interest method. The above Financial statements of Motherson Sumi Systems Limited for the six months period ended September 30, 2001 include operating results of MSEW and MATE . In view of the above, the figures for the current period are not comparable with those of the previous period.
In view of Accounting Standard (AS)-22 on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India which is applicable w.e.f. April 1, 2001, the provision for taxation amounting to Rs. 43.87 millions for the half year ended September 30, 2001 includes deferred tax charge amounting to Rs.35.40 millions. The corresponding figure for the half year ended September 30, 2000 has not been recasted as the accumulated deferred tax liability (net) amounting to Rs. 7.12 millions upto March 31, 2001 has been deducted from revenue reserves during the half year ended September 30, 2001 in accordance with the said accounting standard.
During the six months ended September 30, 2001, the Company has sold 1,394,834 shares representing 55.8% of Saks Ancillaries Limited (SAL) at a profit of Rs. 0.14 millions (net of provision). Consequently SAL has ceased to be a subsidiary of Motherson Sumi Systems Limited.

By Order of the Board Of Directors
For Motherson Sumi Systems Ltd.

V.C. Sehgal
Chairman


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Audited Financial Results for the Half Year Ended 30th September, 2001