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Audited
financial results for the year ended March 31,2002
(Rs. Cr.) |
|
Sr.No.
|
Particulars
|
Year ended
31-03-2002 |
Year
ended
31-03-2001 |
| 1
|
Income
from operations |
7804
|
8664
|
| 2
|
Other
Income |
145
|
164
|
| 3
|
Total
expenditure |
|
|
|
|
(a)Staff
cost |
108
|
76
|
|
|
(b)Bond
issue expenses w/off |
66
|
71
|
|
|
(c)Other
expenditure |
114
|
129
|
|
|
Total
expenditure |
288
|
276
|
| 4
|
Interest
Cost |
6250
|
6595
|
| 5
|
Profit
before Depreciation and Provisions (1+2-3-4)
|
1411
|
1957
|
| 6
|
Depreciation
|
223
|
230
|
| 7
|
Bad
and doubtful debts /investments written-off
/ provided for |
773
|
993
|
| 8
|
Profit
before tax (5-6-7) |
415
|
734
|
| 9
|
Provision
for taxation |
10
|
43
|
| 10
|
Deferred
tax credit |
19
|
-
|
| 11
|
Net
profit (8-9+10) |
424
|
691
|
| 12
|
Paid
up Equity Share Capital
(Face value Rs.10 per share) |
653
|
653
|
| 13
|
Reserves
excluding Revaluation Reserves |
6001
|
8474
|
| 14
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Accelerated
write-off of bad and doubtful debts by
withdrawal from Reserve Fund (refer note
'd' given below) |
2500
|
-
|
| 15
|
Earning
Per Share (Rs.) |
6.50
|
9.37*
|
| 16
|
Shareholding
|
No.
of shares |
Percentage
of shareholding |
|
|
Govt.
of India |
381
728 000 |
58.47
|
|
|
Employees |
794
120 |
0.12
|
|
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Public
|
102
283 098 |
15.67
|
|
|
Bodies
corporate |
30
985 486 |
4.75
|
|
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Institutions
|
93
182 029 |
14.27
|
|
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Societies
|
173
920 |
0.03
|
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Trusts
|
334
320 |
0.05
|
|
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Insurance
Companies |
36
844 837 |
5.65
|
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NRI's
|
6
086 493 |
0.93
|
|
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NSDL(Transit)
|
418
097 |
0.06
|
|
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Grand
Total |
652
830 400 |
100.00
|
*on
weighted average equity capital
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- The above
results have been taken on record
by the Board of Directors at
their meeting held on May 31,2002.
- Dividend
at Rs. 1.50 per share on equity
shares for the financial year
2001-02 has been recommended
by the Board for adoption at
the AGM.
- During
the year, bonds of Rs. 2130.50
Cr. qualifying as Tier I capital
were issued to the Government
of India in lieu of borrowings
aggregating to Rs. 2083.48 Cr.
from Reserve Bank of India/Government
of India.
- Accelerated
write-off of bad and doubtful
debts of Rs 2500.26 Cr. has
been made by drawing the equivalent
amount from Special Reserve
u/s 36(1)(viii) of Income Tax
Act, 1961.
- In accordance
with the Accounting Standard
AS 22 "Accounting for Taxes
on Income" issued by the
Institute of Chartered Accountants
of India, the deferred tax provision
relating to previous years amounting
to Rs. 293.34 Cr. has been adjusted
against the Reserve Fund in
the current year.
- The requirement
of provisions/write off for
Loans and Advances has generally
been determined on the basis
of the RBI guidelines on asset
classification and provisioning
and keeping in view the record
of recovery and other relevant
factors.
- Segment
Reporting as defined in Accounting
Standard AS 17 is considered
not applicable.
- During
the current year, the Small
Industries Development Bank
of India (SIDBI) ceased to be
a subsidiary of the Bank.
- The figures
of the previous year have been
regrouped and adjusted wherever
required.
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By
order of the Board |
| Place : Mumbai |
sd/- |
| Date : May 31, 2002 |
(P.
P. Vora) |
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Chairman
& Managing Director. |
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