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| Saregama India Limited | ||||||
| Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028 | ||||||
| Unaudited Financial Results for the quarter and half year ended 30th September, 2008 | ||||||
| (Rs. in Lakhs) | ||||||
| Sl. No. | Particulars | Three Months Ended 30th September, 2008 (Unaudited) | Three Months Ended 30th September, 2007 (Unaudited) | Six Months Ended 30th September, 2008 (Unaudited) |
Six Months Ended 30th September, 2007 (Unaudited) |
Year Ended 31st March, 2008 (Audited) |
|---|---|---|---|---|---|---|
| 1. (a) | (i) Net Sales | 1,626 | 2,052 | 3,395 | 3,673 | 8,680 |
| (ii) License Fees | 1,414 | 1,332 | 2,475 | 2,584 | 5,056 | |
| (b) | Other Operating Income | 8 | 70 | 32 | 78 | 402 |
| 2. | Expenditure : | |||||
| (a) | (Increase)/Decrease in stock in trade | 53 | (5) | 95 | (19) | (366) |
| and Work in Progress | ||||||
| (b) | Consumption of raw materials | 481 | 673 | 997 | 1,094 | 2,318 |
| (c) | Cost of production of films/television serials | 253 | - | 529 | - | 1,743 |
| (d) | Employees Cost | 538 | 475 | 1,020 | 898 | 1,972 |
| (e) | Depreciation (net of transfer from | 99 | 91 | 195 | 174 | 340 |
| Revaluation Reserve) | ||||||
| (f) | Advertisement and Sales promotion | 247 | 279 | 334 | 549 | 957 |
| (g) | Royalty | 399 | 968 | 912 | 1,658 | 2,834 |
| (h) | Other Expenditure | 880 | 725 | 1,552 | 1,383 | 3,253 |
| (i) | Total | 2,950 | 3,206 | 5,634 | 5,737 | 13,051 |
| 3. | Profit from Operations before Other Income, Interest and Exceptional Items (1-2) | 98 | 248 | 268 | 598 | 1,087 |
| 4. | Other Income | 88 | 84 | 117 | 146 | 201 |
| 5. | Profit before Interest and Exceptional Items (3+4) | 186 | 332 | 385 | 744 | 1,288 |
| 6. | Interest | 88 | 41 | 159 | 68 | 191 |
| 7. | Profit after Interest but before Exceptional Items (5-6) | 98 | 291 | 226 | 676 | 1,097 |
| 8. | Exceptional Items | (38) | (51) | (76) | (89) | (181) |
| 9. | Profit (+)/ Loss (-) from Ordinary | 60 | 240 | 150 | 587 | 916 |
| Activites before tax (7+8) | ||||||
| 10. | Tax Expense | |||||
| (a) Current Tax | 6 | 28 | 16 | 67 | 93 | |
| (b) Fringe Benefit Tax | 8 | 8 | 20 | 20 | 50 | |
| 11. | Net Profit (+)/ Loss(-) from | |||||
| Ordinary Activities after tax (9-10) | 46 | 204 | 114 | 500 | 773 | |
| 12. | Extraordinary Items (net of tax expense Rs.Nil) | - | - | - | - | - |
| 13. | Net Profit (+)/ Loss(-) for the period (11-12) | 46 | 204 | 114 | 500 | 773 |
| 14. | Paid-up Equity Share Capital | 1,468 | 1,468 | 1,468 | 1,468 | 1,468 |
| (Face Value of Rs.10/- each) | ||||||
| 15. | Reserves excluding Revaluation Reserves (as per Balance Sheet) of previous accounting year | 7,822 | ||||
| 16. | Earnings Per Share (EPS) | |||||
| (a) | Basic and Diluted EPS (Rs.) before Extraordinary items for the period | 0.31 | 1.39 | 0.78 | 3.40 | 5.26 |
| (b) | Basic and Diluted EPS (Rs.) after Extraordinary items for the period | 0.31 | 1.39 | 0.78 | 3.40 | 5.26 |
| 17. | Public shareholding | |||||
| - Number of shares | 6,879,941 | 7,079,275 | 6,879,941 | 7,079,275 | 6,879,941 | |
| - Percentage of shareholding | 46.88 | 48.24 | 46.88 | 48.24 | 46.88 | |
| Segment wise Revenue, Results and Capital Employed | ||||||
|---|---|---|---|---|---|---|
| (Rs. in Lakhs) | ||||||
| Sl. No. | Particulars | Three Months Ended 30th September, 2008 (Unaudited) | Three Months Ended 30th September, 2007 (Unaudited) | Six Months Ended 30th September, 2008 (Unaudited) | Six Months Ended 30th September, 2007 (Unaudited) | Year Ended 31st March, 2008 (Audited) |
| Segment Revenue | ||||||
| (a) | Music | 2,753 | NA | 5,284 | NA | 12,375 |
| (b) | Films/TV Serials | 287 | NA | 586 | NA | 1,361 |
| (c) | Unallocated | - | NA | - | NA | - |
| Total | 3,040 | NA | 5,870 | NA | 13,736 | |
| Less: Inter Segment Revenue | - | NA | - | NA | ||
| Net Sales /Income From Operations | 3,040 | NA | 5,870 | NA | 13,736 | |
| Segment Results | ||||||
| Profit (+) / Loss(-)before tax and Interest for each Segment | ||||||
| (a) Music | 495 | NA | 1,018 | NA | 2,779 | |
| (b) Films/TV Serials | (74) | NA | (129) | NA | (604) | |
| (c) Unallocated | - | NA | - | NA | - | |
| Total | 421 | NA | 889 | NA | 2,175 | |
| Less : | ||||||
| i) Interest | 87 | NA | 159 | NA | 191 | |
| ii) Other Unallocable Expenditure | 361 | NA | 697 | NA | 1,271 | |
| iii) Other Unallocable income | 88 | NA | 117 | NA | 203 | |
| Total Profit Before tax | 61 | NA | 150 | NA | 916 | |
| Capital Employed | ||||||
| (a) Music | 9,236 | NA | 9,236 | NA | 7,287 | |
| (b) Films/TV Serials | 2,393 | NA | 2,393 | NA | 1,675 | |
| (c) Unallocated | - | NA | - | NA | - | |
| Total | 11,629 | NA | 11,629 | NA | 8,962 | |
| NOTES : | |
|---|---|
| 1. | The Scheme of Amalgamation of Saregama Films Limited, a wholly owned subsidiary, with the Company with effect from 31st March, 2007, has
been approved by the Hon'ble High Court at Calcutta by its Order dated 28th November, 2007 and a certified copy of the said Order has been
filed with the Registrar of Companies, West Bengal on 7th December, 2007.
|
| 2. | The previous period's figures are not comparable as the figures for the quarter ended 30th September, 2007 (Unaudited) published earlier did not
reflect the financial results of the amalgamated company since the Scheme of Amalgamation with effect from 31st March, 2007 was
approved by the Hon'ble High Court at Calcutta by its Order dated 28th November, 2007.
|
| 3. | Disclosure required as per Accounting Standard 17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India is applicable on amalgamation effective 31st March, 2007 mentioned in (1) above. |
| 4. | Dividend at the rate of Re. 1/- per equity share of Rs. 10/- each aggregatting to Rs. 1,46,75,738/- has been distributed for the year ended
31st March, 2008.
|
| 5. | Out of the 53,38,628 equity shares of Rs. 10/- each for cash at a premium of Rs.35/- (issue price - Rs.45/-) pursuant to the Rights Issue in
2005, allotment of 5490 equity shares (relating to cases under litigation / pending clearance from concerned authorities) are kept in abeyance
till 30th September, 2008.
|
| 6. | The Company has adopted the Intrinsic Value method in keeping with the applicable regulatory pronouncements for accounting the stock
options granted by the Company during the financial year 2006-07, which had no impact on the financial results of the Company. Had the fair
value method been used in keeping with the said pronouncements, net results and earnings per share (basic and diluted) for the half year
would have been lower by Rs. 9.38 lacs and Re. 0.06 and for the quarter would have been lower by Rs. 4.69 lacs and Re. 0.03 respectively.
|
| 7. | An amount of Rs. 461 lacs has been paid during the twelve months ended 31st March, 2008 by the Company to its employees who retired
under the Company's Voluntary Retirement Scheme-2007. This amount is being charged off over the remaining period of service of the related
employees or three years whichever is lower. Accordingly, an amount of Rs. 181 lacs, Rs. 76 lacs and Rs. 38 lacs has been charged off
(included under exceptional items) during the year ended 31st March, 2008, half year ended 30th September, 2008 and quarter ended
30th September, 2008 respectively.
|
| 8. | The number of investor complaints received, disposed off and lying unresolved at the quarter ended 30th September, 2008 are as under:
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Pending at the beginning of the quarter - 0
|
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Received during the quarter - 5
|
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Disposed off during the quarter - 5
|
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Lying unresolved at the end of quarter - 0
|
|
| 9. | Previous periods figures have been regrouped/rearranged where considered necessary.
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| 10. | The above results were reviewed by the Audit Committee and subsequently taken on record by the Committee of Directors at its meeting
held on 31st October, 2008.
|
| On behalf of the Board | ||||
|---|---|---|---|---|
| Kolkata, | Subroto Chattopadhayay | |||
| 31st October, 2008 | Managing Director | |||
| For investor greivances mail to : co.sec@saregama.co.in |
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