ATIVE TEXTILE SOLUTIONS - Alpha...

INNOVATIVE TEXTILE SOLUTIONS

1Innovative Textile Solutions

PERFORMANCE HIGHLIGHTS

BUSINESS HIGHLIGHTS: FOR THE QUARTER ENDED 31 MAR 2013Net Sales of Rs. 3913.57 crore

An increase of 50.78% over quarter ended 31 Mar 2012 (Rs. 2,595.38 crore)

Against Net Sales of Rs.3,520.81 crore in previous quarter (11.15% growth)

Exports worth Rs. 922.40 crore

Growth of 13.19% over quarter ended 31 Mar 2012 (Rs.814.90 crore)

Operating EBIDTA of Rs. 975.47 crore

Growth of 32.28% over quarter ended 31 Mar 2012 (Rs.737.44 crore)

Operating PBT at Rs.350.49 crore

A 52.88% increase over quarter ended 31 Mar 2012 (Rs.229.25 crore)

PAT of Rs.230.78 crore

Against Rs.283.50 crore in quarter ended 31 Mar 2012

crore in quarter ended 31 Mar 2012

BUSINESS HIGHLIGHTS: FOR THE 12 MONTHS ENDED 31 MAR 2013Net Sales of Rs. 13,181.90 crore

Exports worth Rs. 3,301.39 croreGrowth of 8.97% over 12 MONTHS ENDED 31 Mar 2012 (Rs.3,029.55 crore)

Operating EBIDTA of Rs.3,588.10 crore

Margin of 27.22% of sales (29.49% during 12 MONTHS ENDED 31 Mar 2012)

Operating PBT at Rs.1,280.94 crore

PAT of Rs.790.27 crore

2 Performance Report Q4 2012-13

UNAUDITED RESULTS FOR THE QUARTER AND TWELVE MONTHS ENDED 31 MARCH 2013

PART I Statement of standalone unaudited results for the Quarter and Twelve months ended 31 March 2013

(` Crore)

PARTICULARS

QUARTER ENDED Period Ended Year Ended

31.03.2013(Reviewed)


31.03.2012(See note no.

3 below)

31.03.2013[12 Mths]

(Reviewed)(See note 4

below)

31.03.2012(Audited)

1 Income from Operations

3,913.57 3,520.81 2,595.38 13,181.90

Total Income from Operations (net) 3,913.57 3,520.81 2,595.38 13,181.90 8,900.86

2 Expenses

a) 2,835.57 5,748.34

b) 14.53 20.00 55.32

c)

trade

(551.84) (1,000.27)

d) 74.94 290.31

e) 219.51 173.59 879.81 713.43

f) 385.91 390.27

Total Expenses 3,171.29 2,793.87 2,040.11 10,510.81 7,055.14

3 742.28 555.27 1,845.72

4 9.05 8.58 37.20

5

items

755.96 735.99 563.85 2,708.29 1,911.32

6 Finance Costs 405.47 370.52 1,427.35 1,149.55

7 350.49 365.47 229.25 1,280.94 761.77

8 (30.13) 30.28 73.20 121.27

9before tax

380.62 335.19 456.81 1,207.74 640.50

10 149.84 95.37 173.31 417.47 259.97

11 230.78 239.82 283.50 790.27 380.53

12

13per Balance sheet of previous accounting

2,829.22

14 Earnings per share (of Rs.10 each) :

Basic 2.79 * 2.90* 3.48 *

Diluted 2.77 * 2.90* 3.48* 9.55

* Not annualised



UNAUDITED RESULTS FOR THE QUARTER AND TWELVE MONTHS ENDED 31 MARCH 2013

PART II

(` Crore)

PARTICULARS




31.03.2012(See note no. 3

below)

31.03.2013[12 Mths]

(Reviewed) (See note 4

below)

31.03.2012(Audited)

A PARTICULARS OF SHAREHOLDING

1 Public Shareholding

54,39,92,839 54,40,52,839 54,39,92,839

2Holding

a

98.75% 73.31% 98.75% 73.31%

33.74% 32.54% 23.30% 33.74% 23.30%

b

35,15,845 35,15,845

1.25% 4.74% 1.25%

0.42% 8.48% 0.42% 8.48%

B INVESTOR COMPLAINTS

Pending at the beginning of the quarter 0

Received during the quarter 41

Disposed off during the quarter 39

quarter 2

Notes:


UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND TWELVE MONTHS ENDED 31 MARCH 2013

(` Crore)

PARTICULARS




31.03.2012(See note no.

3 below)

31.03.2013[12 Mths]

(Reviewed)(See note 4 below)

31.03.2012(Audited)

Segment Revenue

2,991.17 2,811.43 1,780.48 9,880.51 5,871.31

International 922.40 709.38 814.90 3,301.39 3,029.55

3,913.57 3,520.81 2,595.38 13,181.90 8,900.86

Trade Receivables

4,103.08 1,799.53 1,799.53

International

5,905.21 4,312.71 2,152.15 5,905.21 2,152.15

period.

For ALOK INDUSTRIES LIMITED

DILIP B. JIWRAJKAManaging Director



KEY DEVELOPMENTS IN THE QUARTER

Successful completion of Rights Issue of Rs. 551 crore

Real Estate

Rs. 1,072.92 crore as per the details given below:

(` Crore)

Total Asset Sold in Q3 Total Sold Total Consideration Amount Received Peninsula Business Park 953.01 282.17

Ashford Centre

74 acres 58.00 40.41

Total 1,072.92 335.64

Ashford Centre, Lower Parel, Mumbai Peninsula Business Park, Lower Parel, Mumbai

Performance Report Q4 2012-13

FINANCIALS AT A GLANCE

Total Sales: Q4

31 Mar 2012

2,595.38

3,913.57

31 Mar 2013

Operating EBIDTA: Q4

31 Mar 2012

737.44

975.47

31 Mar 2013

Operating PBT: Q4

31 Mar 2012

229.25

350.49

31 Mar 2013

PAT: Q4

31 Mar 2012

283.50230.78

31 Mar 2013

PROFIT AND LOSS: FOURTH QUARTER(` Crore)

PROFIT & LOSS ACCOUNT

Q/ENDED31 MAR 2013

Q/ENDED31 MAR 2012

% Change

% to Sales % to Sales

2,991.17 1,780.48

922.40 814.90 13.19%

Net Sales 3,913.57 2,595.38 50.79%

8.58 59.49%

TOTAL INCOME 3,927.25 2,603.96 50.82%

Material Costs 2,490.93 1,410.80

People Costs 74.94 1.91% 2.52% 14.50%

385.91 390.27 15.04% (1.12%)

OPERATING EBIDTA 975.47 24.93% 737.44 28.41% 32.28%

Depreciation 219.51 173.59

OPERATING EBIT 755.96 19.32% 563.85 21.73% 34.07%

Interest & Finance Costs 405.47 12.89% 21.18%

OPERATING PBT 350.49 8.96% 229.25 8.83% 52.89%

(30.13)

PROFIT BEFORE TAX 380.62 456.81 (16.68%)

149.84 3.83% 173.31 (13.54%)

PAT 230.78 5.90% 283.50 10.92% (18.59%)




PROFIT AND LOSS: TWELVE MONTHS (` Crore)

PROFIT & LOSS ACCOUNT

12 M/ENDED31 MAR 2013

12 M/ENDED31 MAR 2012 (Year ended)

% Change

% to Sales % to Sales

9,880.51 5,871.31

3,301.39 3,029.55 8.97%

Net Sales 13,181.90 48.10%

37.20 (43.29%)

TOTAL INCOME 13,219.10 8,966.46 47.43%

Material Costs 7,515.09 57.01% 4,393.13

People Costs 290.31 2.20% 3.00%

13.85% 18.89% 8.58%

OPERATING EBIDTA 3,588.10 27.22% 2,624.75 29.49% 36.70%

Depreciation 879.81 713.43 8.02% 23.32%

OPERATING EBIT 2,708.29 20.55% 1,911.32 21.47% 41.70%

Interest & Finance Costs 1,427.35 10.83% 1,149.55 12.92% 24.17%

OPERATING PBT 1,280.94 9.72% 761.77 8.56% 68.16%

73.20 121.27

PROFIT BEFORE TAX 1,207.74 640.50 88.57%

417.47 3.17% 259.97 2.92%

PAT 790.27 6.00% 380.53 4.28% 107.68%

Total Sales: YTD

31 Mar 2012

8,900.86

13,181.90

31 Mar 2013

Operating EBIDTA: YTD

31 Mar 2012

2,624.753,588.10

31 Mar 2013

Operating PBT: YTD

31 Mar 2012

761.77

1,280.94

31 Mar 2013

PAT: YTD

31 Mar 2012

380.53

790.27

31 Mar 2013



DIVISIONAL PERFORMANCE: FOURTH QUARTER ENDED MAR 2013(`.Crore)

PARTICULARS

QUARTER ENDED 31 MAR 2013 QUARTER ENDED 31 MAR 2012

CHANGE

LOCA

L

EXP

OR

T

TO

TAL

% T

O

TO

TAL

SALE

S

LOCA

L

EXP

OR

T

TO

TAL

% T

O

TO

TAL

SALE

S

Cotton Yarn 24.52 11.14 0.91% 122.71 4.73% (70.93%)

Apparel FabricWoven 2,424.09 2,584.24

Knitting 23.93 1.55% 39.44 17.79 57.23 2.21%

2,448.02 196.91 2,644.93 67.58% 1,110.00 153.35 1,263.35 48.68% 109.36%Home Textiles 2.03 411.58 10.57% 12.51 245.42 257.93 9.94%

2.10 101.51 1.40 48.34 114.34%

Garments 20.71 1.45% 5.92 (17.80%)

493.79 209.85 833.84 32.13% (20.98%)

TOTAL 2,991.17 922.40 3,913.57 100.00% 1,780.48 814.90 2,595.38 100.00% 50.79%

DIVISIONAL PERFORMANCE: RELATIVE SHARE IN TOTAL SALES

COTTON YARN1%

POLYESTER YARN18%

TERRY TOWEL3%

GARMENTS2%

HOME TEXTILES 3%

KNITTING2%

WOVEN71%

TERRY TOWEL2% COTTON YARN

5%POLYESTER YARN

32%

GARMENTS3% HOME TEXTILES

10%

KNITTING2%

WOVEN46%

Q4, 2012-13 Q4, 2011-12

(` Crore)

PARTICULARS

TWELVE MONTHS YEAR ENDED 31 MAR 2013 TWELVE MONTHS YEAR ENDED 31 MAR 2012

CHANGE

LOCA

L

EXP

OR

T

TO

TAL

% T

O

TO

TAL

SALE

S

LOCA

L

EXP

OR

T

TO

TAL

% T

O

TO

TAL

SALE

SCotton Yarn 114.01 182.78 1.39% 128.33 193.94 322.27 (43.28%)

Apparel FabricWoven 7,100.87 7,721.72 58.58% 3,295.43 43.41%

Knitting 137.22 137.25 274.47 2.08% 153.43 3.01% 2.34%

7,238.09 758.10 7,996.19 60.66% 3,448.85 682.79 4,131.65 46.42% 93.53%Home Textiles 1335.95 1343.63 10.19% 12.24% 23.31%

11.83 245.41 257.24 1.95% 145.73 1.81% 59.99%

Garments 137.50 180.56 1.37% 21.70 217.30 2.44%

3,221.49 24.44% 2,242.41 2,979.22 33.47% 8.13%

TOTAL 9,880.51 3,301.39 13,181.90 100.00% 5,871.31 3,029.55 8,900.86 100.00% 48.10%

DIVISIONAL PERFORMANCE: RELATIVE SHARE IN TOTAL SALES

COTTONYARN1%

POLYESTER YARN24%

GARMENTS1%

HOME TEXTILES10%

KNITTING2%

WOVEN60%

TERRY TOWEL2% COTTONYARN

4%POLYESTER YARN33%

GARMENTS2%

HOME TEXTILES12%

KNITTING3%

WOVEN44%

TERRY TOWEL2%

12 Months, 2012-13 12 Months, 2011-12



FINANCIAL POSITION

SUMMARY BALANCE SHEET (`.Crore)

PARTICULARS 12 MONTHS ENDED

31 MAR 2013(Year ended)

12 MONTHS ENDED31 MAR 2012(Year ended)

11,377.38 9,891.94

Total Current Assets 11,841.81 8,345.44

Total Assets 23,219.19 18,237.38

Tangible Net Worth 4,579.13

Total Equities & Liabilities 23,219.19 18,237.28

SUMMARY CASH FLOW(` Crore)

PARTICULARS (Rs.Crore) 12 Months Ending 31 March 2013

(790.41)

Net cash used in Investing Activities (502.39)

Net Increase in Cash and Cash equivalents ( A+B+C) (236.45)

Cash and Cash equivalents

at the beginning of the period

at the end of the period

Net Decrease in Cash and Cash equivalents (236.45)

KEY RATIOS

PARTICULARS31-Mar-13

(12 Months) (Reviewed)2011-12

(12 Months) (Year ended)

EBITDA (%) 27.22% 29.49%

9.72%

4.28%

Return on Net worth (%) 10.41%

14.05%

Balance Sheet Ratios

1.94 2.01

3.21 3.14

Net Total Debt / EBITDA 4.10 4.37

Current Ratio 1.54 1.24

1.05 0.75

Coverage Ratios

PBDIT/Interest 2.51 2.28

2.28

88

139

21


FINANCIAL HIGHLIGHTS FOR LAST 10 YEARS

(` Crore)PARTICULARS 31-Mar-13

(12 Months) (Reviewed )

31-Mar-12(12 Months)

(Audited )


(Audited)


(Audited)

Net Sales 13181.90 4,311.17

3301.39 (3,029.55) (2,217.43) (1,558.99)

EBITDA 35.88.10 1,879.70 1,272.48

879.81 713.43 518.79

PBIT 2708.29 1,911.32 909.87

Interest 1427.35 1,149.55 535.08

PBT (operating) 1280.94 374.80

73.20 121.27 41.45

PAT 790.27 380.53 247.34

1784.88 1,334.19 1,083.98 711.89

Dividend 28.81 22.97 22.97

Net Cash Accruals 1784.88 1,305.38

Financial Position12139.73 9,920.88

7,145.11

Current Assets 13283.45 5,793.77 4,801.88

0.17

175.79 139.93

Total Assets 23219.19 18,238.36 14,267.46 12,176.85 787.79 787.79

Reserves & Surplus 2,829.22 2,309.81 1,928.40

115.08

Tangible Net worth 4579.13 3,655.50 3,097.60 2,716.19

5813.44 2,072.97

2835.17 1,183.87 843.00 544.00

Total Liabilities 23219.19 18,238.36 14,267.46 12,176.85EPS 5.13 4.57

Book Value 55.42 44.24 39.32 34.48

KEY RATIOSPARTICULARS 31-Mar-13

(12 Months) (Reviewed )

2011-12(12 Months)

(Audited)

2010-11(12 Months)

(Audited)

2009-10(12 Months)

(Audited)

EBITDA (%) 27.22 29.49% 29.42% 29.52%

9.72 9.78%

4.28% 5.74%

14.05 11.72% 9.25%

Return on Net worth (%) 13.88% 13.05% 9.11%

Balance Sheet Ratios3.21 3.14 2.75

Net Total Debt / EBITDA 4.10 4.37 4.53 5.59

Current Ratio 1.54 1.24 1.53

Coverage RatiosPBDIT/Interest 2.51 2.28 2.55 2.38

2.31 2.58 2.27

88 99 93

139 114 125

277 227 213 218

21 32

177



FINANCIAL HIGHLIGHTS FOR LAST 10 YEARS

(` Crore)31-Mar-09

(12 Months) (Audited)


(Audited)


(Audited)


(Audited)


(Audited)

31-Mar-04 (12 Months)

(Audited)

2,170.41 1,420.70 1,224.50

(1,054.50) (394.55) (111.48)

547.75 244.53 198.40

233.50 123.04 80.48 38.28

589.11 385.79 287.92 220.78 158.97

304.12 131.83 89.04

284.99 198.88 154.00 123.29 92.57

188.37 135.18 109.21 89.25 71.08

513.98 393.14 302.50 110.51

17.28 28.75 30.20 27.92

273.75 159.49 118.89

2,954.20 2,121.89 1,047.57

3,891.30 2,583.80 1,874.24 879.27 579.53

3,377.53 1,403.87 1,359.21

11.20

478.58 219.49 39.70 7.85 4.07

9,159.57 7,887.79 4,795.95 3,317.81 2,246.33 1,430.28 187.17 170.37 157.47 134.02 88.23

1,410.39 1,134.01 854.07 218.00

147.70 3.32 21.42

1,755.06 1,431.34 1,024.44 807.53 598.07

307.97 210.48 141.82 100.10 75.10 50.52

5,120.53 3,904.81 2,258.48 1,742.08 925.85 475.12

1,475.82 1,078.28 470.42 477.39

500.19 292.93 150.02

9,159.58 7,887.79 4,795.95 3,317.81 2,246.33 1,430.28 11.40 9.70 7.25 7.90

89.10 51.28 37.14

2008-09(12 Months)

(Audited)

2007-08(12 Months)

(Audited)

2006-07(12 Months)

(Audited)

2005-06(12 Months)

(Audited)

2004-05(12 Months)

(Audited)

2003-04(12 Months)

(Audited)

25.24% 22.52% 21.21% 19.97%

9.57% 11.70% 10.90% 13.19% 12.80% 11.79%

7.73% 7.41% 9.78% 9.71% 9.43%

8.05% 10.22% 17.94%

10.73% 11.72% 13.11% 18.28% 30.22%

2.49 2.08 1.52 2.27

7.47 5.57 3.71 3.75

1.22 1.33 1.32 1.82 1.92 1.34

2.70 4.15 4.51 3.84 2.99

1.89 1.73 1.44

108 102 109 91 120 149

93 92 108 70

224 218 202 183 228 219

45 40 41 43

179 151 143 187

Net Sales900080007000600050004000300020001000

0

8,900.86

2003-04 2005-06 2007-08 2009-10 2011-12

4,311.17

2,170.411,420.701,068.85

`cr

ore

Export Sales

1036.89

1558.99

3500

3000

2500

2000

1500

1000

500

0

3029.55

2003-04 2005-06 2007-08 2009-10 2011-12

394.55111.48

`cr

ore

1272.48

547.75301.26198.40

2624.753000

2500

2000

1500

1000

500

02003-04 2005-06 2007-08 2009-10 2011-12

EBITDA

`cr

ore

380.53

2003-04 2005-06 2007-08 2009-10 2011-12

400

350

300

250

200

150

100

50

0

247.34

167.73

109.2171.08

Operating Profit After Tax`

cror

e

2,716.19

807.53

3,655.50

2003-04 2005-06 2007-08 2009-10 2011-12

4000

3500

3000

2500

2000

1500

1000

500

0

Net Worth

1,431.34

327.65

` cr

ore

Net BlockGross Block

1,87

4.24

579.

5369

0.84 2,

121.

89

3,89

1.30

4,36

8.05

7,14

5.11

8,21

5.61

12,00011,00010,000

9,0008,0007,0006,0005,0004,0003,0002,0001,000

0

9466

.25

2003-04 2005-06 2007-08 2009-10 2011-12

Fixed Assets 1184

0.67

` cr

ore


CAPITAL INFORMATION

CAPACITIES

Divisions Units Present Capacities Per Annum

SPINNING Tons 80,000

HOME TEXTILES

Sheeting Fabric 105

Tons 13,400

APPAREL FABRIC

Woven Fabric

Knits Tons 25,000

GARMENTS 22

POLYESTER

Tons 5,00,000

POY/Chips Tons

DTY Tons 1,70,000

FDY Tons 70,000

Tons 94,000

SHARE PRICE AND VOLUMES

MonthBSE (In Rs. per share) NSE (In Rs. Per share)

High Low Volume High Low Volume21.50 18.70 21.05 18.70

19.90 20.00 80747549

19.05 17.25 19.25 17.20 59131822

18.70 15.25 18.70 15.20 128338931

11.30 5,55,91,039 11.00

12.90 10.77 3,92,08,121 14.00 10.75

13.55 11.00 13.55 11.15 130191735

12.40 4,47,83,972 12.40

12.05 10.48 12.05 10.45

3,99,70,383 10.30 134801983

11.08 8.25 2,50,18,734 11.10 8.25 110852435

9.20 7.52 9.25 7.50 95023310

SHARE PERFORMANCE VIS-A-VIS STOCK MARKET INDICES



CAPITAL INFORMATION

EQUITY INFORMATIONParticulars BSE NSE

Closing Price as on 28th March 2013 8.20 8.20

Rs. 19.17 Rs. 19.25

Rs.7.52 Rs.7.50

Market Capitalisation as on 28th March 2013 (Rs. In Crores)

SHAREHOLDING PATTERNSHAREHOLDER ENTITIES CURRENT QUARTER PREVIOUS QUARTER

Banks, Mutual Funds And FIs 10.92%

FIIs, NRIs And OCB 4.29%

Other Corporate Bodies and Public 49.49% 48.77%

Total 100.00% 100.00%

TOP TEN PUBLIC SHARE HOLDERS AS AT 31 MAR 2013Sr No Name of the Shareholders Shares %

1

2

3 21440823 2.59%

4 2.04%

5 1.31%

1.20%

7 MV SCIF Mauritius 7501730 0.91%

8 Alok Tandon 7200000 0.87%

9 0.83%

10 General Insurance Corporation of India 5300000

11 0.59%

Sub-total 408176124 49.40%

Others Shareholders 418093233

Total 826269357 100.00%

BOARD OF DIRECTORSSr. No. Name Designation

1

2 Managing Director

3

4

5 Independent Director

Mr. K.R. Modi Independent Director

7

8

9

10 Independent Director

11 Mr. M.V. Muthu

12 Mr. Sunil O. Khandelwal

13 Mr. K.H. Gopal


ECONOMIC OVERVIEW

THE GLOBAL ECONOMY

appears to be a growing bifurcation between

the United States on one hand and the Euro

% in 2013 and 5.7 % in 2014. Growth in the

United States is forecast to be 1.9 % in 2013

and 3.0 % in 2014. In contrast, growth in the

euro area is forecast to be –0.3 % in 2013 and

1.1 % in 2014.

for housing and durables. The forecast for

strengthening but is still forecast to be less

on aggressive quantitative easing, a positive

Sources: IMF

INDIA

Sources: RBI



THE TEXTILE INDUSTRY

GlobalYarn:

(+7.9%), Taiwan, China (+3.1%), Pakistan (+2.1%) and India

Fabric:

higher output in Asia (+9.4%) and Europe (+7.7%), while

stocks decreased due to a reduction of stocks in all regions

Estimates:

production is stable.

India

Sources: Textile ministry, International Textile Manufacturers Federation (ITMF)

INDUSTRY OVERVIEW

0.70%

3.60%

1.30%

AsiaEurope SouthAmerica

Fabric Production Grouth - Q4, CY12 vs CY11

0.00

1.00

2.00

3.00

4.00

Asia NorthAmericaEurope South

America

0

5

-16.60%

-7.60%

3%

10.60%15

5

10

10

15

20

Yarn Production Grouth - Q4, CY12 vs CY11

Performance Report Q4 2012-13

PRESS RELEASE

For the Quarter ended March 31, 2013:

For the Twelve Month period ended March 31, 2013:

growth of 50.78%. The EBIDTA for the quarter was at Rs. 975.47 crores as against Rs.737.44 crores in the corresponding quarter of

Management Comment

About Alok Industries Limited:

(BSE Code: 521070) (NSE Code: ALOKTEXT) (Reuters Code: ALOK.BO) (Bloomberg Code: ALOK@IN)

For More Information Please Contact:

Mr. Sunil O. Khandelwal Mr. Siddharth Kumar/Mr. Ankur Parikh

Cell : 9833933447/9820092291

s

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