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Quaterly Results (SEPT' 2017)

Investors

UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER/HALF YEAR ENDED SEPT'2017
(Rs. In lacs.)
PARTICULARS UNAUDITED
Quarter
30.09.17		 UNAUDITED
Quarter
30.06.17		 UNAUDITED
Quarter
30.09.16		 UNAUDITED
HALF YEAR
30.09.17		 UNAUDITED
HALF YEAR
30.09.16
           
REVENUE FROM OPERATIONS 7131.38 5260.81 7217.91 12392.19 13342.53
OTHER INCOME 20.80 104.17 27.97 124.97 70.83
TOTAL REVENUE 7152.18 5364.98 7245.88 12517.16 13413.36
EXPENSES          
COST OF MATERIALS CONSUMED 2943.35 2729.20 2657.75 5672.55 4766.94
PURCHASE OF STOCK IN TRADE 827.10 859.75 2051.35 1686.85 3380.81
CHANGE IN INVENTORIES OF FINISHED GOODS,WORK IN PROGRESS 514.23 -513.93 -374.03 0.30 -162.31
AND STOCK IN TRADE          
EMPLOYEES BENEFIT EXPENSES 1109.63 1107.95 1018.22 2217.58 2002.54
FINANCE COST 174.16 303.58 569.61 477.74 1005.24
DEPRECIATION/AMORTISATION 861.33 859.59 888.03 1720.92 1775.80
OTHER EXPENSES 2146.91 1474.85 7428.20 3621.76 10197.94
TOTAL EXPENSES 8576.71 6820.99 14239.13 15397.70 22966.96
PROFIT (LOSS) BEFORE EXCEPTIONAL ITEMS AND TAX -1424.53 -1456.01 -6993.25 -2880.54 -9553.60
EXCEPTIONAL ITEMS 0.00 0.00 0.00 0.00 0.00
PROFIT (LOSS) BEFORE EXTRAORDINARY  ITEMS AND TAX 0.00 0.00 0.00 0.00 0.00
EXTRAORDINARY ITEM 0.00 0.00 0.00 0.00 0.00
PROFIT (LOSS) BEFORE TAX -1424.53 -1456.01 -6993.25 -2880.54 -9553.60
TAX EXPENSES:-          
CURRENT TAX 0.00 0.00 0.00 0.00 0.00
DEFFERRED TAX 0.00 0.00 0.00 0.00 0.00
MAT CREDIT ENTITLEMENT 0.00 0.00 0.00 0.00 0.00
PROFIT(LOSS) FOR THE PERIOD FROM CONTINUING OPERATIONS -1424.53 -1456.01 -6993.25 -2880.54 -9553.60
PROFIT(LOSS)  FROM DISCONTINUING OPERATIONS 0.00 0.00 0.00 0.00 0.00
TAX EXPENSES OF DISCONTINUING OPERATIONS 0.00 0.00 0.00 0.00 0.00
PROFIT(LOSS)  FROM DISCONTINUING OPERATIONS (AFTER TAX) 0.00 0.00 0.00 0.00 0.00
PROFIT(LOSS) FOR THE PERIOD -1424.53 -1456.01 -6993.25 -2880.54 -9553.60
OTHER COMPREHENSIVE INCOME          
ITEMS THAT WILL NOT BE CLASSIFIED TO PROFIT & LOSS 0.00 0.00 12.18 0.00 12.05
ITEMS THAT WILL BE CLASSIFIED TO PROFIT & LOSS 0.00 0.00 0.00 0.00 0.00
TOTAL OTHER COMPREHENSIVE INCOME NET OF INCOME TAX 0.00 0.00 -7005.43 0.00 -9565.65
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD -1424.53 -1456.01 -7005.43 -2880.54 -9565.65
PAID UP EQUITY SHARE CAPITAL Rs. 2/- 1083.29 1083.29 1006.94 1083.29 1006.94
EARNING PER SHARE RS. 2/- EACH (Not Annulized)          
BASIC -2.63 -2.69 -13.91 -5.32 -18.99
DILUTED  -2.63 -2.69 -13.91 -5.32 -18.99
Notes:-
1 During this quarter some banks/ Assets Reconstruction Companies (ARC's) have not charged interest due to NPA status of account on cash credit,Term Loans,Working Capital Term Loans and Funded Interest Term Loans accounts. Also some banks/ARC's have not provided bank statements due to which interest charged figures are not available,Hence The accrued liability on account of the same amounting to Rs. 3617.06 lacs. has not been provided in books of accounts.
2 Other expenses for this quarter include Provision for Doubtful Debts/Debts Written off for Rs. 1006.00lacs which has been made in accounts on proportionate basis in  respect of debts considered to be doubtful of recovery.
3 The Company has First time adopted IND-AS with effect from 1st April 2017, with the transition date of 1st April 2016, The unaudited financial results have been prepared by the company in accordance with the Companies (Indian Accounting Standared) Rules 2015 (IND-AS) prescribed under section 133 of the companies act 2013 and otherrecognised accounting practices and policies to the extent applicable.
4 The statement does not include Ind-AS compliant results for the  previous year ended 31st March 2017 as the same is not madatory as per SEBIcircular dated 5th July 2016.
5 Impairment Loss, if any, will be accounted for at the year end.
6 Deferred Tax Asset/Liability will be accounted for at the year end.
7 Reconciliation of Net Profit/Loss for the quarter/Half year ended Sept 30,2016 under India GAAP (Previous GAAP) and Ind AS is as under :
Quarter ended Sept.16 Half Year ended Sept.16
(Rs. In Lacs) (Rs. In Lacs)
Net Profit/Loss for the quarter as per Previous GAAP -6993.25 -9431.56
Fare Value Adjustement of Investments through Profit & Loss 0 -122.04
Net Profit/Loss for the quarter as per Ind AS -6993.25 -9553.60
Adjustement of other expenses in other comprehensive Income 12.18 12.05
Total Comprehensive Income for the Period -7005.43 -9565.65
8 The Company is exclusively in Pharmaceutical business.
9 Previous period figures have been re-grouped/Re-arranged where ever necessary.
10 The above financial results have been reviewed by the Audit Committee and approved  by the Board of Directors at their respective meetings held on 14th Dec 2017.
 
For Ind Swift Limited
Place: Chandigarh (S.R. Mehta)
Date: 14.12.2017 CHAIRMAN


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