FOR IMMEDIATE RELEASE
Sical Logistics Q2 FY 08 net profit Rs.18.94 crore, up by 115%
 
  • Consolidated Logistics H1 EBIDTA Rs.63.16 crore from Rs.40.71 crore (up by 55%)
  • Consolidated Logistics Q2 EBIDTA Rs.28.33 crore from Rs.17.57 crore (up by 61%)
  • Consolidated Logistics H1 Cash profit Rs. 27.35 crore from Rs. 17.10 crore (up by 60%)
BSE:520086
NSE:SICA
Reuters:SICA.BO
Bloomberg:SIC@IN

Chennai 30th October ‘07: Sical Logistics Ltd, India’s leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, today announced that un-audited consolidated net profit for the second fiscal quarter ended 30 September 2007 was Rs 18.94 crore, up by 115% from Rs 8.79 crore a year ago, while profit before tax was Rs 18.94 crore, up by 54% from Rs 12.27 crore a year ago. Consolidated Q2 net sales were Rs 264 crore, down by 2% from Rs 269.52 crore a year ago.

The EBITDA of Sical’s core business of logistics was Rs 28.33 crore, up by 61% from Rs. 17.57 crore a year ago. Un-audited Q2 profit before interest, depreciation, and taxes (EBIDTA) including discontinuing operations was Rs 31.97 crores, up by 20% from Rs 26.71 crores a year ago, on Q2 sales of Rs 264 crores.

Comment by Mr. Sudhir Rangnekar, Group CEO and MD of Sical

“The second quarter results are broadly in line with our internal targets. During this quarter, we signed the Sical Road Terminal agreement at Nagpur with MADC and the Rail Terminal agreement is also expected to be signed shortly. Our container rail operations are expected to commence by December 2007, for which the rolling stock will be received next month. The Sical Iron Ore Terminal project is expected to commence from next quarter after financial closure. We maintained our leadership in container logistics, with steady growth in volumes at the Chennai, Vizag & Tuticorin ports. The success of the quarter was further highlighted by our winning the coveted “Best Bulk Logistics Provider” award at the Express, Logistics and Supply Chain Conclave in Mumbai.” said Sudhir Rangnekar, Group CEO & MD, Sical.

About Sical Logistics
Sical Logistics Ltd is India’s leading integrated multi-modal bulk and containerized logistics solutions provider handling around 22mn tones of bulk cargo as well as over 5,00,000 TEUs of containerized cargo. Headquartered in Chennai in the south of India, Sical formerly South India Corporation Agencies Limited) is listed on the Mumbai Stock Exchange and the National Stock Exchange.

The services of the company are segmented as:

• Bulk logistics- Stevedoring/ Port terminals/ Customs and agency services/Trucking/ Rail Road and Warehousing
• Container logistics – Box terminals/ ICDS and CFS
• Offshore logistics - Owning PSV / Dredging

Sical's delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin, 4.5 lakh square feet of storage across over 100 warehouses; owned and regularly contracted fleet of over 2500 transport vehicles, and container freight stations at 3 locations across India. Sical's FY2006-07 revenue was Rs 9.90 billion on Rs 301.9 million equity capital.

   
Media Contacts  
Richa Tilokani
Sical Logistics Ltd, Chennai
Voice: +91.44.22350724
Fax: +91.44.22353655
Email: richa@sical.com 		Vijayalakshmi D
Ogilvy Public Relations Worldwide
Voice: +91.44.44344326
Fax: +91.44.44344710
Email: samantha.unnikrishnan@ogilvy.com
SICAL LOGISTICS LTD
REGD.OFFICE:"ADYAR HOUSE" CHENNAI 600 085.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2007
   
(in Rs crore)
  
   
Quarter ended
Quarter ended
Half Year ended
Year ended
    30.06.2007 30.06.2006
(Unaudited)		 30.09.2007 30.09.2007
(Unaudited)		 30.09.2007
(Unaudited)		 30.09.2006
(Unaudited)
31.03.2007
(Audited)
  Net Income/Sales              
Logistics
126.39
152.61
135.59
142.73
261.98
295.34
601.33
  -Discontinuing Operations
98.53
99.04
97.87
115.06
196.40
214.10
387.00
                 
1.
 Net Income from Operations/Sales
224.92
251.65
233.46
257.79
458.38
509.44
988.33
2.
 Other income
11.19
0.61
15.52
3.07
26.71
3.68
22.53
3.
 Total expenditure              
  (Increase)/decrease in stock-in-trade
3.17
0.90
(1.42)
2.16
1.75
3.06
6.78
  Consumption of raw materials
5.73
15.73
3.72
18.45
9.45
34.18
37.80
  Purchase of traded goods
83.49
62.09
86.95
74.20
170.44
136.29
289.87
  Stores consumed
0.15
0.01
1.77
0.61
1.92
0.62
5.43
  Staff cost
8.38
5.58
8.81
5.53
17.19
11.11
28.30
  Power,fuel and water charges
0.13
1.08
0.10
0.90
0.23
1.98
4.14
  Manufacturing and other expenses
11.33
7.92
9.50
9.93
20.83
17.85
44.12
  Cost of services
119.30
138.31
138.30
134.25
257.60
272.56
572.86
  Profit before Interest & Depreciation (EBITDA)              
  -Logistics (Net)
34.83
23.14
28.33
17.57
63.16
40.70
76.77
  Discontinuing Operations
(0.57)
6.37
3.64
9.14
3.07
15.52
12.12
4.
 PBDIT
34.26
29.51
31.97
26.71
66.23
56.22
88.89
5.
 Interest
5.22
7.74
6.82
9.33
12.04
17.07
21.11
6.
 Depreciation
6.30
4.78
7.19
5.11
13.49
9.89
23.53
7.
 Profit before extraordinary item and tax
22.74
16.99
17.96
12.27
40.70
29.26
44.25
8.
 Provision for Taxation (including Deferred and Fringe Benefit)
3.22
3.64
-
3.48
3.22
7.12
10.12
9.
 Profit After Tax before Exceptional Items & Prior Period Adjustments
19.52
13.35
17.96
8.79
37.48
22.14
34.13
10.
 Exceptional Items (Net of Tax)
0.98
0.98
10.90
11. Profit After Tax after Exceptional Items & before Prior Period Adjustments
19.52
13.35
18.94
8.79
38.46
22.14
45.03
12.
 Prior Period adjustments  
       
0.01
13.
 Net Profit
19.52
13.35
18.94
8.79
38.46
22.14
45.04
14.
 Paid - up Equity Share Capital
35.44
30.19
39.53
30.19
39.53
30.19
30.19
15.
 Reserves ( Excluding Revaluation Reserve)   -   - - -
317.38
16.
 Basic EPS (Rs.) - Not Annualised before Exceptional Items & Prior Period Adjustments
5.73
4.42
4.62
2.91
9.90
4.42
11.31
  Diluted EPS ( Rs.) - Not Annualised before Exceptional Items & Prior Period Adjustments
4.88
3.81
4.01
2.47
8.37
3.81
9.46
  Basis EPS ( Rs.) - Not annualised after Exceptional Items & Prior Period Adjustments
5.73
4.42
4.88
2.91
9.90
4.42
14.93
  Diluted EPS ( Rs.) - Not Annualised after Exceptional Items & Prior Period Adjustments
4.88
3.81
4.23
2.47
8.59
3.81
12.48
17.
 Aggregate of Non Promoters Shareholding   -   - - -
284.27
  -Number of shares
18,389,174
13,139,174
22,487,833
13,139,174
22,487,833
13,139,174
13,139,174
  -Percentage of shareholding
51.92%
43.55%
56.90%
43.55%
56.90%
43.55%
43.55%
 
   
Consolidated Results
  
   
(in Rs crore)
  
   
Quarter ended
Quarter ended
Half Year ended
Year ended
    30.06.2007 30.06.2006
(Unaudited)		 30.09.2007 30.09.2007
(Unaudited)		 30.09.2007
(Unaudited)		 30.09.2006
(Unaudited)
31.03.2007
(Audited)
  Net Income/Sales              
Logistics
155.38
161.26
166.20
154.47
321.58
315.73
671.00
  -Discontinuing Operations
98.53
99.05
97.87
115.05
196.40
214.10
387.00
                 
1.
 Net Income from Operations/Sales
253.91
260.31
264.07
269.52
517.98
529.83
1058.00
2.
 Other income
12.03
0.82
15.63
3.22
27.66
4.04
20.19
3.
 Total expenditure              
  (Increase)/decrease in stock-in-trade
3.17
0.90
(1.42)
2.16
1.75
3.06
6.78
  Consumption of raw materials
5.73
15.73
3.72
18.45
9.45
34.18
37.80
  Purchase of traded goods
83.49
62.09
86.95
74.20
170.44
136.29
289.87
  Stores consumed
0.15
0.01
1.77
0.61
1.92
0.62
5.43
  Staff cost
6.75
4.98
8.14
5.44
14.89
10.42
24.89
  Power,fuel and water charges
0.13
1.08
0.10
0.90
0.23
1.98
4.14
  Manufacturing and other expenses
7.93
6.91
8.11
9.16
16.04
16.07
39.67
  Cost of services
107.27
135.01
125.37
127.63
232.64
262.64
540.59
  Profit before Interest & Depreciation (EBITDA)              
  -Logistics (Net)
22.26
19.32
12.73
13.33
34.99
32.65
50.18
  Discontinuing Operations
(0.77)
6.23
3.51
8.98
2.74
15.21
11.51
4.
 PBDIT
21.49
25.55
16.24
22.31
37.73
47.86
61.69
5.
 Interest
3.08
7.33
5.50
9.34
8.58
16.67
17.55
6.
 Depreciation
3.23
3.43
3.68
3.83
6.91
7.26
13.83
7.
 Profit before extraordinary item and tax
15.18
14.79
7.06
9.14
22.24
23.93
30.31
8.
 Provision for Taxation (including Deferred and Fringe Benefit)
1.63
3.34
(1.37)
3.02
0.26
6.36
8.60
9.
 Profit After Tax before Exceptional Items & Prior Period Adjustments
13.55
11.45
8.43
6.12
21.98
17.57
21.71
10.
 Exceptional Items (Net of Tax)
0.98
0.98
10.90
11. Profit After Tax after Exceptional Items & before Prior Period Adjustments
13.55
11.45
9.41
6.12
22.96
17.57
32.61
12.
 Prior Period adjustments  
       
0.01
13.
 Net Profit
13.55
11.45
9.41
6.12
22.96
17.57
32.62
14.
 Paid - up Equity Share Capital
35.44
30.19
39.53
30.19
39.53
30.19
30.19
15.
 Reserves ( Excluding Revaluation Reserve)   -   - - -
286.77
16.
 Basic EPS (Rs.) - Not Annualised before Exceptional Items & Prior Period Adjustments
3.98
3.79
2.17
2.03
6.02
5.82
7.22
  Diluted EPS ( Rs.) - Not Annualised before Exceptional Items & Prior Period Adjustments
3.39
3.27
1.88
1.69
5.18
4.94
6.03
  Basis EPS ( Rs.) - Not annualised after Exceptional Items & Prior Period Adjustments
3.98
3.79
2.42
2.03
6.29
5.82
10.83
  Diluted EPS ( Rs.) - Not Annualised after Exceptional Items & Prior Period Adjustments
3.39
3.27
2.10
1.69
5.41
4.94
9.06
17.
 Aggregate of Non Promoters Shareholding   -   - - -
284.27
  -Number of shares
18,389,174
13,139,174
22,487,833
13,139,174
22,487,833
13,139,174
13,139,174
  -Percentage of shareholding
51.92%
43.55%
56.90%
43.55%
56.90%
43.55%
43.55%
 
Segment-wise Revenue
   
(in Rs crore)
  
   
Consolidated Results
   
Quarter ended
Half Year ended
Year ended
Quarter ended
Half Year ended
Year ended
SNo
Particulars
 30.09.2007 30.09.2006
(Unaudited)		 30.09.2007 30.09.2006
(Unaudited)		 31.03.2007
(Audited)		 30.09.2007 30.09.2007
(Unaudited)		 30.09.2007 30.09.2006
(Unaudited)
31.03.2007
(Audited)
A.
SEGMENT REVENUE
                    
(a)Logistics
135.59
143.60
261.98
296.23
601.33
166.20
154.47
321.58
315.73
671.00
 
(b)Discontinuing Operations
97.87
115.06
196.40
214.10
387.28
97.87
115.05
196.40
214.10
387.00
 
TOTAL
233.46
258.66
458.38
510.33
988.61
264.07
269.52
517.98
529.83
1,058.00
 
Less: Inter Segment Sales
0.87
0.89
0.28
264.07
269.52
517.98
529.83
1058.00
 
Net Income from Operations/Sales
233.46
257.79
458.38
509.44
988.33
264.07
269.52
517.98
529.83
1058.00
                       
B.
SEGMENT RESULTS
                    
 
Profit/(Loss) (Before Tax and Interest)
from each segment
                    
 
a) Logistics (Net)
9.81
11.00
29.30
28.04
50.82
21.90
13.97
50.90
33.48
69.50
 
b) Discontinuing Operations
2.75
7.48
1.52
12.56
7.68
2.88
7.64
1.84
12.86
8.26
 
TOTAL
12.56
18.48
30.82
40.60
58.50
24.78
21.60
52.74
46.33
77.76
 
Less:
i) Interest
5.50
9.34
8.58
16.67
28.19
6.82
9.33
12.04
17.07
33.51
 
Total Profit before Tax before Exceptional Items
7.06
9.14
22.24
23.93
30.31
17.96
12.27
40.70
29.26
44.25
                       
C.
CAPITAL EMPLOYED
 
(Segment Assets - Segment Liabilities)
 
a) Logistics (Net)
654.18
468.15
654.18
468.15
446.20
773.89
508.60
773.89
508.60
565.91
 
b) Discontinuing Operations
399.00
450.76
399.00
450.76
407.13
408.28
460.04
408.28
460.04
416.41
 
Total Capital Employed
1053.18
918.91
1053.18
918.91
853.33
1,182.17
968.64
1182.17
968.64
982.32