REG - Subex Limited - Outcome of the Board Meeting held on Nov 12, 2014 <Origin Href="QuoteRef">SUBX.NS</Origin> - Part 2

SubexAnnouncement

13/11/2014 11:30

- Part 2: For the preceding part double click  ID:nRSM9472Wa 

           (1,624)                        698                       
                                                                                                                                                                                                                                                                       Sub-total - Shareholders' funds 15,286                         17,362                    
 2                                                                                                                                                                                                                                                                     Non-current Liabilities                                                                  
                                                                                                                                                                                                                                  (a)                                  Long-term Borrowings            59,311                         60,245                    
                                                                                                                                                                                                                                  (b)                                  Deferred Tax Liabilities(net)   -                              -                         
                                                                                                                                                                                                                                  (c)                                  Other Long-term Liabilities     8,268                          5,546                     
                                                                                                                                                                                                                                  (d)                                  Long-term Provisions            672                            602                       
                                                                                                                                                                                                                                                                       Sub-total - Non-current         68,251                         66,393                    
                                                                                                                                                                                                                                                                       liabilities                                                                              
 3                                                                                                                                                                                                                                                                     Current Liabilities                                                                      
                                                                                                                                                                                                                                  (a)                                  Short-term Borrowings           17,441                         16,016                    
                                                                                                                                                                                                                                  (b)                                  Trade Payables - Other than     5,771                          5,253                     
                                                                                                                                                                                                                                                                       Acceptances                                                                              
                                                                                                                                                                                                                                  (c)                                  Other Current Liabilities       3,378                          4,061                     
                                                                                                                                                                                                                                  (d)                                  Short-term Provisions           392                            349                       
                                                                                                                                                                                                                                                                       Sub-total - Current liabilities 26,982                         25,679                    
                                                                                                                                                                                                                                                                       TOTAL - EQUITY AND LIABILITIES  110,519                        109,434                   
                                                                                                                                                                                                                                                                       (1+2+3)                                                                                  
 B                                                                                                                                                                                                                                                                     ASSETS                          
 1                                                                                                                                                                                                                                                                     Non-current Assets                                                                       
                                                                                                                                                                                                                                  (a)                                  Fixed Assets                    702                            598                       
                                                                                                                                                                                                                                  (b)                                  Goodwill on Consolidation       85,642                         85,642                    
                                                                                                                                                                                                                                  (c)                                  Deferred Tax Assets (Net)       -                              -                         
                                                                                                                                                                                                                                  (d)                                  Long-term Loans & Advances      2,455                          2,412                     
                                                                                                                                                                                                                                  (e)                                  Other Non-current Assets        734                            1,425                     
                                                                                                                                                                                                                                                                       Sub-total - Non-current assets  89,533                         90,077                    
 2                                                                                                                                                                                                                                                                     Current Assets                                                                           
                                                                                                                                                                                                                                  (a)                                  Trade Receivables               12,711                         10,058                    
                                                                                                                                                                                                                                  (b)                                  Cash and Bank Balances          2,954                          4,793                     
                                                                                                                                                                                                                                  (c)                                  Short-term Loans & Advances     1,236                          949                       
                                                                                                                                                                                                                                  (d)                                  Other Current Assets            4,085                          3,557                     
                                                                                                                                                                                                                                                                       Sub-total - Current assets      20,986                         19,357                    
                                                                                                                                                                                                                                                                       TOTAL - ASSETS (1+2)            110,519                        109,434                   
                                                                                                                                                                                                                                                                       Notes :                         
                                                                                                                                                                                                                                  1                                    The above results have been     
                                                                                                                                                                                                                                                                       reviewed by the Audit Committee 
                                                                                                                                                                                                                                                                       and approved by the Board of    
                                                                                                                                                                                                                                                                       Directors in their meeting held 
                                                                                                                                                                                                                                                                       on November 12, 2014. The       
                                                                                                                                                                                                                                                                       Statutory Auditors have carried 
                                                                                                                                                                                                                                                                       out a 'Limited Review' of the   
                                                                                                                                                                                                                                                                       same.                           
                                                                                                                                                                                                                                  2                                    Exceptional items comprise -     
                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                        Rs. in Lakhs)  
                                                                                                                                                                                                                                                                       Particulars                     Three months ended 30/09/2014  Preceding 3               Corresponding               For the half year ended 30/09/2014  For the half year ended 30/09/2013  Previous year ended 31/03/2014  
                                                                                                                                                                                                                                                                                                                                      months ended 30/06/2014   3 months ended 30/09/2013                                                                                                           
                                                                                                                                                                                                                                                                                                       Unaudited                      Unaudited                 Unaudited                   Unaudited                           Unaudited                           Audited                         
                                                                                                                                                                                                                                                                       Exceptional Provision for       -                              -                         -                           -                                   -                                   220                             
                                                                                                                                                                                                                                                                       Doubtful trade and other                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                       receivables#                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                       TOTAL                           -                              -                         -                           -                                   -                                   220                             
                                                                                                                                                                                                                                                                       #Represents provisions relating 
                                                                                                                                                                                                                                                                       to Services Segment discontinued 
                                                                                                                                                                                                                                                                       with effect from 01.04.2013     
                                                                                                                                                                                                                                  3                                    Summary of key standalone       
                                                                                                                                                                                                                                                                       financial results is as follows: 
 (Rs in Lakhs)                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                       Particulars                     Three months ended 30/09/2014  Preceding 3               Corresponding               For the half year ended 30/09/2014  For the half year ended 30/09/2013  Previous year ended 31/03/2014  
                                                                                                                                                                                                                                                                                                                                      months ended 30/06/2014   3 months ended 30/09/2013                                                                                                           
                                                                                                                                                                                                                                                                       Unaudited                       Unaudited                      Unaudited                 Unaudited                   Unaudited                           Audited                             
                                                                                                                                                                                                                                                                       Net Sales/ Income from          7,754                          5,442                     7,246                       13,196                              13,824                              29,367                          
                                                                                                                                                                                                                                                                       Operations                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                       Profit / (Loss) from ordinary   (492)                          (2,020)                   (442)                       (2,512)                             179                                 (2,806)                         
                                                                                                                                                                                                                                                                       activities before tax                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                       Profit / (Loss) from ordinary   (521)                          (2,029)                   (14)                        (2,550)                             527                                 (2,953)                         
                                                                                                                                                                                                                                                                       activities after tax                                                                                                                                                                                                         
                                                                                                                                                                                                                                  4                                    As permitted under the Proposal 
                                                                                                                                                                                                                                                                       approved by the Hon'ble High    
                                                                                                                                                                                                                                                                       Court of Karnataka, which was   
                                                                                                                                                                                                                                                                       given effect in the year ended  
                                                                                                                                                                                                                                                                       March 31, 2010, the Company     
                                                                                                                                                                                                                                                                       transferred certain amounts     
                                                                                                                                                                                                                                                                       standing to the credit of       
                                                                                                                                                                                                                                                                       Capital Reserve to the Business 
                                                                                                                                                                                                                                                                       Restructuring Reserve (BRR) and 
                                                                                                                                                                                                                                                                       utilised the same for permitted 
                                                                                                                                                                                                                                                                       utilisations as under. Had the  
                                                                                                                                                                                                                                                                       Proposal not provided for the   
                                                                                                                                                                                                                                                                       above accounting treatment :    
 (Rs in Lakhs except per share data)                                                                                                                                                                                              
                                                                                                                                                                                                                                                                       Particulars                     Three months ended 30/09/2014  Preceding 3               Corresponding               For the half year ended 30/09/2014  For the half year ended 30/09/2013  Previous year ended 31/03/2014  
                                                                                                                                                                                                                                                                                                                                      months ended 30/06/2014   3 months ended 30/09/2013                                                                                                           
                                                                                                                                                                                                                                                                       Unaudited                       Unaudited                      Unaudited                 Unaudited                   Unaudited                           Audited                             
                                                                                                                                                                                                                                                                       Other Expenditure would have    -                              -                         81                          -                                   81                                  81                              
                                                                                                                                                                                                                                                                       been higher by                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                       Net (loss) / profit would have  -                              -                         (81)                        -                                   (81)                                (81)                            
                                                                                                                                                                                                                                                                       been (higher) / lower by                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                       Earnings / ( Loss) per share                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                       would have been                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                       -Basic                          0.57                           (1.22)                    0.05                        (0.65)                              0.49                                (0.75)                          
                                                                                                                                                                                                                                                                       - Diluted                       0.57                           (1.22)                    0.05                        (0.65)                              0.49                                (0.75)                          
                                                                                                                                                                                                                                  5(a)                                 Pursuant to the approval of the 
                                                                                                                                                                                                                                                                       holders of "US$ 180 Million 2%  
                                                                                                                                                                                                                                                                       convertible unsecured bonds",   
                                                                                                                                                                                                                                                                       [of which US$ 39 Million was    
                                                                                                                                                                                                                                                                       outstanding ("FCCBs I")] and    
                                                                                                                                                                                                                                                                       "US$ 98.7 Million 5% convertible 
                                                                                                                                                                                                                                                                       unsecured bonds", [of which US$ 
                                                                                                                                                                                                                                                                       54.8 Million was outstanding    
                                                                                                                                                                                                                                                                       ("FCCBs II")], at their