FOR IMMEDIATE RELEASE
Sical Logistics Q1 FY 09 logistics profit after tax Rs. 8.98 crore
 
  • Q1 logistics net sales Rs 151.81 crore vs. Rs 155.38 crore a year ago
  • “Performance in line with expectations”: Sical Chairman Ashwin Muthiah
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Chennai, 18 July 2008: Sical Logistics Ltd, India’s leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, today announced that the profit after tax and before extraordinary items of the logistics division for the first fiscal quarter ended 30 June 2008 was Rs 8.98 crore vs. Rs 9.29 crore a year ago while the logistics net sales was Rs 151.81 crore vs. Rs 155.38 crore a year ago.

The un-audited consolidated net profit after tax for the first fiscal quarter was Rs. 9.99 crore vs Rs. 11.95 crore a year ago. Consolidated Q1 net sales were Rs 162.05 crore from Rs 252.13 crore a year ago. The decline in net profit and revenue on a consolidated basis was on account of the demerger of the non logistics businesses and the discontinuing businesses of Sical.

The consolidated profit before tax and extraordinary items was Rs 10.71 crore from Rs 15.17 crore a year ago. The extraordinary items represent the net loss on restating foreign currency convertible bond loan and deposits/ bank balances in foreign currency.

On the results, Ashwin C Muthiah, Chairman, Sical Logistics said, “Our performance in Q1 FY09 is in line with expectations- the logistics business has stabilized and the infrastructure projects are progressing as per schedule.”

“We commenced operations of our container train business in March this year and will receive delivery of the second rake by end July ‘08. Our Nagpur Road terminal is in advanced stages of financial closure, likely to be achieved by end July ‘08. We initiated work on the Sical iron ore terminal with the ground-breaking ceremony at the terminal site in Ennore on 16th July ‘08. The common user terminal will be one of the largest iron ore terminals in Asia with a capacity of 12 million tons.” said Ashwin Muthiah, Chairman, Sical Logistics

“We continue to strengthen our businesses and explore new business opportunities to fuel growth and are confident of achieving our goals for FY 2009.” added Ashwin Muthiah, Chairman, Sical Logistics.

About Sical Logistics
Sical Logistics Ltd is India’s leading provider of integrated solutions for multimodal bulk and containerized logistics and offshore logistics, annually handling nearly 22 million tonnes of bulk cargo and 500,000 TEUs of containerized cargo.

Sical provides services in the following segments:
• Bulk—stevedoring; port terminals; CHA and shipping agency; trucking; railroad; warehousing
• Container—container terminals; ICD; CFS
• Offshore—platform supply vessel; cutter suction dredger

Sical's delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin; 450,000 square feet of storage across over 100 warehouses; owned and regularly contracted fleet of nearly 2500 transport vehicles; container freight stations at 3 locations across India; Sical Torino, a deepwater capable platform supply vessel in North Sea, and Sical Portofino, a newly built cutter suction dredger.

   
Media Contacts  
Richa Tilokani
Sical Logistics Limited
Chennai
Voice: +91.44.22350724
Fax: +91.44.22353655
Email: richa@sical.com 		Samantha Unnikrishnan
Ogilvy Public Relations Worldwide
Chennai
Office: +91-44-44344326
Fax:: +91-44-44344710
Email: samantha.unnikrishnan@ogilvy.com
 
SICAL LOGISTICS LTD
REGD.OFFICE:"SOUTH INDIA HOUSE" 73, Armenian St, Chennai-01
     
    Consolidated
Sl.No Particulars   Quarter ended   Year Ended 
   30.6.08    (Unaudited)   30.6.07    (Unaudited)   31.3.08    (Audited) 
1 Net Sales/Income from Operations         16,205.73        25,213.74         71,162.55
2 Other Income             183.88             365.09              881.96
3 Total Income         16,389.61        25,578.83         72,044.51
4 Expenditure      
  a. Cost Of Services         11,625.68        11,929.53         53,762.73
  b.(Increase) / Decrease in Stock in Trade and work In  progress                    -              (107.39)               11.52
  c. Consumption of Raw Materials          1,102.16             586.96           2,587.05
  d.Purchase of Traded Goods            8,349.11  
  e.Staff Cost             588.20             838.36           2,928.48
  f.Depreciation             709.95             630.25           2,775.41
  g Other expenditure             830.65          1,022.01           3,683.55
  h.Total         14,856.64        23,248.83         65,748.74
         
5 Interest             461.07             812.01           2,032.57
6 Exceptional Items      
7 Profit (+) / Loss(-) from Ordinary Activities before Tax          1,071.90          1,517.99           4,263.20
8 Tax expense               72.48             322.40              (88.25)
9 Net Profit(+)/Loss(-) from Ordinary Activities after tax (7-8)             999.42          1,195.59           4,351.45
10 Extraordinary Items (Net of Tax expense)             741.24            (756.36)          (1,072.47)
11 Net Profit (+)/Loss(-) for the period (9-10)             258.18          1,951.95           5,423.92
12 Prior Period Adjustments              (16.65)                   -                (72.37)
13 Net Profit (+)/Loss(-) after Prior Period Adjustments (11-12)             241.53          1,951.95           5,351.55
14 Minority Interest             231.98                330.69
15 Net Profit (+)/Loss(-) after Minority Interest (13-14)                 9.55          1,951.95           5,020.86
16 Paid - up Equity Share Capital          3,953.97          3,543.00           3,953.97
17 Reserves ( Excluding Revaluation Reserve)              27,114.84
18 Earnings Per Share (EPS)      
    a) Basic  EPS (Rs.) - Not Annualised before Extraordinary Items                 2.53                3.51               11.45
    a) Diluted EPS ( Rs.) - Not Annualised before Extraordinary Items                  2.20                2.99                 9.91
    b)  Basis EPS ( Rs.) - Not annualised after Extraordinary Items                  0.02                5.73               13.21
    b)  Diluted EPS ( Rs.) - Not Annualised after Extraordinary Items                  0.02                4.88               11.43
19 Aggregate of Public  Shareholding      
   - Number of Shares       22,487,833      18,387,833       22,487,833
   - Percentage of Shareholding 56.90% 51.92% 56.90%
         
 
SICAL LOGISTICS LTD
SEGMENTWISE REVENUE, RESULTS & CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH JUNE 2008
    1.00  
     
Sl.No Particulars  Consolidated
30.6.2008   (Unaudited)  30.06.2007 (Unaudited)    31.03.2008    (Audited) 
         
A SEGMENT REVENUE      
  a) Logistics 15181.60 15538.21 68167.20
  b) Discontinuing Operations  1219.03 9675.53       3,119.35
  TOTAL 16400.63 25213.74    71,286.55
  Less: Inter Segment Sales (194.90)   (124.00)
  Net Sales/Income from Operations 16205.73 25213.74 71162.55
         
B SEGMENT RESULTS      
  Profit/(Loss) (Before Tax and Interest)       
  from each segment      
  a) Logistics (Net) 1430.79 2063.32 5930.51
  b) Discontinuing Operations 102.18 266.69          365.26
  TOTAL       1,532.97        2,330.00      6,295.77
  Less:       
  i) Interest 461.07 812.01 2032.57
         
  Total Profit before Tax before Extraordinary  Items 1071.90 1517.99 4263.20
         
C CAPITAL EMPLOYED      
  (Segment Assets - Segment Liabilities)      
         
  a) Logistics 86063.24 70090.23     82,088.15
  b) Discontinuing Operations 871.76 41897.31          843.09
  Total Capital Employed 86935.00 111987.54 82931.24