Oricon Enterprises limited,oricon,oricon property & developers, united shippers ltd, oriental containers ltd,shinrai toyota, petrochemicals, parijat enterprises.
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Particulars Three months ended Current Accounting Year ended 31.03.2010 (Unaudited) Previous Accounting Year ended 31.03.2009 (Audited)
31.03.2010 (Unaudited) 31.03.2009 (Audited)
1. Segment Revenue
(a) Petrochemical 376.93 385.19 1,581.47 2,000.53
(b) Trading 1,051.32 1,030.05 3,515.29 2,769.36
Total 1,428.25 1,415.24 5,096.76 4,769.89
Less:Inter Segment 255.09 259.55 941.92 1,495.82
Net Sales / Income from Operations 1,428.25 1,415.24 5,096.76 4,769.89
2. Segment Results
[Profit(+)/Loss(-) before tax and Interest from each segment]
(a) Petrochemical 25.61 85.90 265.54 171.44
(b) Trading 20.75 3.37 71.63 15.63
Total 46.36 89.27 337.17 187.07
Less: (i) Interest (215.43) (60.08) (384.99) (258.19)
(ii) Other unallocable income net off unallocable expenditure 451.33 223.78 1,429.33 881.25
(iii) Exceptional item 312.00
Total Profit Before Tax 282.26 252.97 1,381.51 1,122.13
3. Capital Employed (Segment assets-segment liabilities)
(a) Petrochemical 524.61 619.37 524.61 619.37
(b) Trading 124.30 352.19 124.30 352.19
(c) Unallocable 16,433.06 10,539.35 16,433.06 10,539.35
Total 17,081.97 11,510.91 17,081.97 11,510.91
  1. The above results have been reviewed by Audit Committee and were taken on record by the Board of Directors at their meeting held on 29th April,2010 and are subject to limited review by the Auditor of the Company.

  2. Previous year / period’s figures are regrouped / rearranged wherever necessary to make them comparable with those of the current period.

  3. During the quarter the Company has written off 45.67 lacs towards expenditure on VRS in accordance with Accounting Standard 15 (Revised) ‘Employee Benefits’ issued by the Institute of Chartered Accountants of India, according to which such expenditure can not be carried forward after 31.03.2010. Hithereto, the expenditure on VRS was being written off over a period of 10 years. As a result, the profit of the Company for the quarter is lower by 31.70 lacs ( 126.80 lacs for the year) and other expenditure is higher to the same extent.

  4. The Board of Directors of the Company at their meeting held on 27th November 2009 has, subject to approvals of Shareholders,Stock Exchange, Hon’ble High Court Bombay and other approvals as may be necessary, approved the scheme of amalgamation of Naman Tradvest P. Ltd & Zeuxtile Investments P. Ltd with the company. The appointed date for amalgamation is 1st October 2009. The Company has received approval from the Bombay Stock Exchange Ltd. for the proposed scheme of amalgamation and has filed an application with Hon’ble High Court Bombay on 23rd April 2010 for convening and dispensing meeting of Equity Shareholders, Unsecured Creditors and Secured Creditors. No effect of amalgamation is given in the above results pending approval from the Hon’ble High Court Bombay.

  5. Dilluted EPS for the quarter and year ended 31st March ,2010 are anti-dilutive in nature, hence basic EPS is reported.

  6. No. of investors complaints received during the quarter ended March 31, 2010 opening Nil, received 12 disposed off 12 and pending Nil.
By Order of the Board For Oricon Enterprises Ltd.
Place : Mumbai
Date : April 29, 2010
( Rajendra Somani )
Managing Director
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