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Stock Report
Zandu Pharmaceutical Works Ltd Q1 net at Rs.3.11 Crores
Posted On : 2007-07-23 04:52:32( TIMEZONE : IST )
Zandu Pharmaceutical Works Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.
The Company has posted a profit after taxes of Rs.31.19 million for the quarter ended June 30, 2007 where as the same was at Rs.21.37 million for the quarter ended June 30, 2006. Total Income is Rs.281.79 million for the quarter ended June 30, 2007 where as the same was at Rs.219.64 million for the quarter ended June 30, 2006.
The company reported an Earnings Per Share (EPS) of Rs.38.67 for Quarter ended June 30, 2007 compared to Rs.35.33 reported during Quarter ended June 30, 2006.
The Company had Investments aggregating to Rs 1.450 million in the equity shares of Zandu Chemicals Ltd a company promoted by the, Company and had also given loans / advances to the said company aggregating to Rs 35.672 million which are outstanding as at March 31, 2007. The investee company accumulated losses had exceeded its networth as at March 31, 2006 and as informed the said company had as required by law referred the matter to the Board for Industrial and Financial Reconstruction (BIFR) and the said company was hopeful of positive outcome. Accordingly, on that basis no provision was considered necessary by the management towards the diminution in the value of Investments considered temporary and loans and advances considered good of recovery. This was a matter of qualification by the statutory auditors for the year ended March 31, 2006. Subsequently, on achieving positive networth, the BIFR has discharged the said company from the purview of SICA, 1985. Morever, the said company has becomes subsidiary company w.e.f. November 01, 2006, consequent to the company acquiring the majority of its shares (93.84%). The ZCL has achieved higher turnover during the financial year 2006-O7 and in current quarter. ZCL has excellent orders on hand.
The stock was trading at Rs.401.80, up by Rs.11.20 or 2.87%. The stock hit an intraday high of Rs.419.85 and low of Rs.392. The total traded quantity was 767543 compared to 2 week average of 364065.
