A 128 year in Textile Industry in INDIA A HOUSEHOLD NAME IN WORLD QUALITY BED SHEETS AND SCHOOL UNIFORMS.(samples shown)
BOMBAY DYEING AND MANUFACTURING COMPANY LTD.
Neville House, J. N.Heredia Marg, Ballard Estate, Mumbai-400 001.
UNAUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2007.
Rs.In Crore
RESULTS AND CAPITAL EMPLOYED.
SALES / Income from operations - 502.54.
Less:Excise duty recovered on sales - 3.95
(1) Net Sales/Income from operations - 498.59
(2)Other Income - 27.81
(3)Expenditure:
(a) (Increase)/decrease in stock in trade - 12.56
Consumption of raw materials and
purchase of goods. - 302.48
(c)Cost in respect of real estate,net of revaluation reserve - 0.52
(d)Staff Cost - 38.47
(e)Other expenditure - 178.92
(f)Cost of goods Captively consumed for tral run - 100.86
(g) TOTAL - 432.86
(4)Net Interest Expense - 24.59
(5)Gross Profit after Interest
but before Depreciation and Taxation - 69.72
(6)Less: Depreciation - 17.46
(7)Profit before Tax and VRC - 52.26
(8)Less: VRC Written off - 11.85
(9)Profit before Tax - 40.41
Less: Provision for taxation
A- Current - 4.43
B - Deferred - (.90)
C - Fringe Benefit Tax - 0.95
Total of A+ B + C = 4.48
NET PROFIT - 35.93 [ A Profit of 7.15 % Over Income as I see is perhaps due to technical and marketing expertise needed ]
NOTES -
1}The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 25th July, 2007. The Statutory Auditors have carried out a limited review of these results pursuant to Clause 41 of the Listing Agreement.
2}Status of investor for 2007: Nil
In an earlier year, a part of the Company's land under Real Estate Development had been converted from fixed assets into stock-in-trade at market value. The difference between the market value and cost of that part of land amounting to Rs. 198.34 crores was credited to revaluation reserve in an earlier year. Accordingly, 'cost in respect of real estate' is net of revaluation reserve released to the profit and loss account, amounting to Rs. 7.66 crores for the quarter ended 30th June, 2007 and Rs. 75.62 crores for the year ended 31st March, 2007 (includes Rs. 27.39 crores for the quarter ended 30th June, 2006), being revenue arising on sale of undivided interest in the underlying land pertaining to flats where agreements for sale of such flats have been entered into.
A joint performance test conducted with the technical know -how/ machinery supplier during the trial run of PSF plant confirmed that some modifications were required to achieve the design performance. To carry out the modifications and also for commissioning of PTA esterification and feed system, the operations have been temporarily suspended from third week of June, 2007.
Compensation paid under Voluntary Retirement Scheme to the workers of the Textile mills is being written off upto 31st March, 2010 on a pro-rata basis.
Figures for the previous periods have been regrouped / restated wherever necessary.
FOR THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED.
P. V. KUPPUSWAMY.
Mumbai: 25th July, 2007.
JOINT MANAGING DIRECTOR.
I LIKE BALANCE SHEETS BUT TO PUT IT IN MY BLOG I GO LIKE NUTS.
WHAT SORT OF TRIAL RUN COULD COST Rs.100.86 CRORES THAT HAS REDUCED THEIR PROFIT BY MORE THAN 100 % THEY HAVE GOT.
The "WADIAS" first venture, over 250 years ago, was in the area of ship building, more than 355 ships were designed and built by the Wadias, including men-of-war for the British Navy. It was on one such ship that the American National Anthem was composed, and on another Wadia built deck that the 'Treaty of Nanking', ceding Hongkong to England, was signed.
THE SPRING MILLS began operations in 1903 Emerging opportunities : With the wave of industrialization in the 19th century, trading grew, and with it, opportunities for new areas of business.
In 1879, Bombay was next only to New Orleans as the world's largest cotton port. It was at this time that Nowrosjee Wadia set his sights on India's mushrooming textile industry. On August 23rd, in a humble redbrick shed, he began a small operation. Here, cotton yarn spun in India was dip dyed by hand in three colors-turkey red, green and orange-and laid out in the sun to dry.
Humble opportunities : The Bombay Dyeing & Manufacturing Co. Ltd. had been born. A modest beginning for a company that was to grow in the following 115 yr. into one of India's largest producer of textiles. Along the path of growth and diversification, Bombay Dyeing has spawned dozens of other companies. In technical and financial collaboration with world leaders, such companies have pioneered the manufacture of various chemicals and have grown to be leaders in their new fields. It was more than just a company that was born in 1879, a legacy was born. A legacy that would give rise to one of India's most respected business houses.
A 128 year in Textile Industry in INDIA A HOUSEHOLD NAME IN WORLD QUALITY BED SHEETS AND SCHOOL UNIFORMS.(samples shown)
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