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The Bombay Burmah Trading Corporation Ltd.
 
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The Bombay Burmah Trading Corporation Limited
The Bombay Burmah Trading Corporation Limited
The Bombay Burmah Trading Corporation Limited
The Bombay Burmah Trading Corporation Limited
The Bombay Burmah Trading Corporation Limited
The Bombay Burmah Trading Corporation Limited
The Bombay Burmah Trading Corporation Limited















The Bombay Burmah Trading Corporation Limited

The Bombay Burmah Trading Corporation Limited


PERFORMANCE
THE BOMBAY BURMAH TRADING CORPORATION, LIMITED
Registered Office : 9, Wallace Street, Fort, Mumbai 400 001
UNAUDITED FINANCIAL RESULTS FOR THREE MONTHS ENDED 30TH JUNE, 2010
Rupees in Lakhs
    Three
Months
ended
30th
June,
2010
Unaudited
 Corresponding
Three
Months
ended 30th
June,
2009
Unaudited		 Year to
date from
1st April,
2010 to
30th June,
2010
Unaudited		 Corresponding
Year to date
from 1st April
2009 to
30th June,
2009
Unaudited		 Previous
Accounting
Year ended
31st
March
2010
Audited
   
1. a) Net Sales / Income from Operations

7,794.86
6,712.91
7,794.86
6,712.91
29,388.16
   
  b) Other Operating Income
289.96
304.66
289.96
304.66
1,435.12
   
2. Expenditure
  a) (Increase) / Decrease in stock in trade and work in progress
57.34
(226.94)
57.34
(226.94)

(1,438.23)
  b) Consumption of raw materials
3,254.72
2,722.67
3,254.72
2,722.67
12,117.79
  c) Purchase of traded goods
38.54
123.25
38.54
123.25
913.92
  d) Employees cost
1,171.98
1,181.50
1,171.98
1,181.50
5,135.36
  e) Depreciation
221.01
220.87
221.01
220.87
805.78
  f) Other Expenditure
2,123.08
1,979.70
2,123.08
1,979.70
9,738.63
  Total
6,866.67
6,001.05
6,866.67
6,001.05
27,273.25
   
3. Profit from Operations before Interest Exceptional Items (1-2)
1,218.15
1,016.52
1,218.15
1,016.52
3,550.03
   
4. Other Income
61.31
65.21
61.31
65.21
507.78
   
5. Profit from Operations before Interest & Exceptional Items (3+4)
1,279.46
1,081.73
1,279.46
1,081.73
4,057.81
   
6. Interest
457.39
637.87
457.39
637.87
1,983.14
   
7. Profit after Interest but before Exceptional Items (5-6)
822.07
443.86
822.07
443.86
2,074.67
   
8. Exceptional Items
  a) Exchange (Loss) on revaluation of Foreign Currency Borrowings
(148.55)
(356.24)
(148.55)
(356.24)
(848.37)
  b) Profit on sale of Leasehold Land
599.69
-
599.69
-
-
   
9. Profit from Ordinary Activities before tax (7-8)
1,273.21
87.62
1,273.21
87.62
1,226.30
   
10. Tax expense / (Credit)
283.00
1.00
283.00
1.00
(139.25)
   
11. Net Profit from Ordinary Activities after tax (9-10)
990.21
86.62
990.21
86.62
1,365.55
   
12. Extraordinary items (net of tax expense)
-
-
-
-
-
   
13. Net Profit for the period (11-12)
990.21
86.62
990.21
86.62
1,365.55
   
14. Paid-up equity share capital (Face value of the Share - Rs.10/-)
1,395.44
1,395.44
1,395.44
1,395.44
1,395.44
   
15. Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
-
-
-
-
-
   
16. Earnings Per Share
  a) Basic and diluted EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualised)
7.10
0.62
7.10
0.62
9.79
  b) Basic and diluted EPS after Extraordinary items for the period, for the year to date and for the previous year (not to be annualised)
7.10
0.62
7.10
0.62
9.79
   
17. Public shareholding
  - No. of Shares
5,018,231
5,018,231
5,018,231
5,018,231
5,018,231
  - Percentage of Shareholding
35.96
35.96
35.96
35.96
35.96
18. Promoters and promoter group
  Shareholding
  a) Pledged / Encumbered
1,000,000
1,252,880
1,000,000
1,252,880
1,000,000
  - Number of shares
  - Percentage of shareNumber of sharess (as a % of the total shareholding of promoter and promoter group)
11.19
14.02
11.19
14.02
11.19
  - Percentage of shares (as a % of the total share capital of the company)
7.17
8.98
7.17
8.98
7.17
  b) Non - encumbered
  - Number of shares
7,936,149
7,683,269
7,936,149
7,683,269
7,936,149
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group)
88.81
85.98
88.81
85.98
88.81
  - Percentage of shares (as a % of the total share capital of the company)
56.87
55.06
56.87
55.06
56.87
Segmentwise Revenue,
Results and Capital Employed:
Rupees in Lakhs
Three
Months
ended
30th
June,
2010
Unaudited
 Corresponding
Three
Months
ended 30th
June,
2009
Unaudited		 Year to
date from
1st April,
2010 to
30th June,
2010
Unaudited		 Corresponding
Year to date
from 1st April
2009 to
30th June,
2009
Unaudited		 Previous
Accounting
Year ended
31st
March
2010
Audited
   
  1. Segment Revenue:
  a) Plantations
2,877.05
2,862.07
2,877.05
2,862.07
11,181.44
  b) Building Products
2,050.03
1,755.62
2,050.03
1,755.62
8,373.48
  c) Auto Ancillary
2,576.08
1,719.29
2,576.08
1,719.29
8,649.40
  d) Investments
62.00
48.00
62.00
48.00
414.17
  e) Healthcare
320.04
345.53
320.04
345.53
1,352.15
  f) Others
199.62
287.06
199.62
287.06
852.64
   Total
8,084.82
7,017.57
8,084.82
7,017.57
30,823.28
  Less : Inter Segment Revenue
  Net Sales / Income from Operations
8,084.82
7,017.57
8,084.82
7,017.57
30,823.28
   
  2. Segment Results:
  a) Plantations
638.35
557.63
638.35
557.63
1,954.86
  b) Building Products
128.79
147.99
128.79
147.99
649.25
  c) Auto Ancillary
378.24
178.02
378.24
178.02
1,082.24
  d) Investments
62.00
48.00
62.00
48.00
414.17
  e) Healthcare
95.77
76.64
95.77
76.64
248.23
  f) Others
7.93
10.47
7.93
10.47
27.21
  Total
1,311.08
1,018.75
1,311.08
1,018.75
4,375.96
  Less : i) Interest
(457.39)
(637.87)
(457.39)
(637.87)
(1,983.16)
  ii) Other Un-allocable expenditure net
(241.48)
(358.47)
(241.48)
(358.47)
(1,674.28)
  iii) Un-allocable income
661.00
65.21
661.00
65.21
507.78
  Total Profit before Tax
1,273.21
87.62
1,273.21
87.62
1,226.30
   
  3. Capital Employed:
  (Segment Assets - Segment Liabilities)
  a) Plantations
7,318.23
6,356.08
7,318.23
6,356.08
7,476.69
  b) Building Products
5,736.30
5,302.72
5,736.30
5,302.72
6,026.75
  c) Auto Ancillary
4,782.83
5,012.92
4,782.83
5,012.92
5,016.42
  d) Investments
10,731.20
11,633.95
10,731.20
11,633.95
10,669.20
  e) Healthcare
673.75
688.32
673.75
688.32
744.28
  f) Others
2,100.36
2,009.82
2,100.39
2,009.82
2,107.51
  g) Unallocated
(22,866.59)
(25,197.13)
(22,866.59)
(25,197.13)
(24,292.73)
  Sub Total
8,476.08
5,806.68
8,476.08
5,806.69
7,748.12
  Total
8,476.08
5,806.68
8,476.08
5,806.69
7,748.12
Notes:
1. The above results have been reviewed and recommended by the Audit Committee for approval and were approved by the Board at the Board Meeting held on 10th August, 2010
2. Out of the expenditure of Rs.175.16 lakhs (Previous period Rs.259.34 lakhs) incurred during the quarter at the Coffee estates an amount of Rs.161.90 lakhs (Previous period Rs.165.11 lakhs) has been carried forward and will be accounted against the current season's coffee crop from November, 2010. The balance amount of Rs.13.26 lakhs (Previous period Rs.94.23 lakhs) of crop has been absorbed during the quarter as it relates to the crop of the earlier season.
3. The Corporation has opted for accounting the exchange difference arising on reporting of Long Term Foreign Currency Monetary Items in line with Accounting Standard Amendment Rules 2009 on Accounting Standard 11 (AS 11) notified by the Government of India on 31st March, 2009. Accordingly an amount of Rs.127.45 lakhs as on 31st March, 2010 towards the said exchange difference was carried forward to Foreign Currency Monetary Item Translation Difference account. In the above results, out of the said amount, a sum of Rs.31.85 lakhs for the quarter ended 30th June, 2010 was transferred to Profit & Loss Account. Further out of the loss on exchange difference of Rs.407.03 lakhs arising on the restatement of long term foreign currency liabilities as on 30th June, 2010 a sum of Rs.112.93 lakhs was on proportionate basis charged to Profit & Loss Account.
4.

i ) Outstanding derivatives contracts entered into by the Corporation are not marked to market, as the Corporation is not able to realistically ascertain the ultimate loss or gain on their settlement. The foreseeable losses on such contracts are however being provided as per the accounting policy followed by the Corporation. There are no such additional foreseeable losses to be provided for during the quarter. The auditors have drawn attention to this in their Limited Review report for the quarter ended 30th June, 2010 as also in the Auditor's Report in respect of the financial results of the previous year ended 31st March, 2010.
  ii) In response to the Auditors' observations on the outstanding derivative contracts as mentioned above the Corporation as legally advised, maintains that the accounting policy followed by the Corporation is in accordance with the provisions of the Companies Act,1956.
5. There were no Investor complaints pending at the beginning of the quarter. The Corporation received 2 complaints during the quarter under review and the same were redressed. There are no Investor complaints pending at the end of the quarter.
   
6. Figures relating to previous period have been recast and restated where necessary.
   
7. The Statutory Auditors of the Corporation have carried out a Limited Review of the Results for the quarter ended 30th June, 2010.
On behalf of the Board
Mumbai, Ashok Panjwani
10th August, 2010 Managing Director


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