Item 1
ICICI Limited
Interim audited results of ICICI Limited for the three months ended June 30, 2001 as per Indian GAAP
(Rs. In Million)
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QUARTER QUARTER YEAR
ENDED ENDED ENDED
JUNE 30, 2001 JUNE 30, 2000 MAR. 31, 2001
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1 Income from operations 24,285.3 21,377.7 92,466.4
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2 Other income 233.7 160.3 1,162.0
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3 Total Expenditure:
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(a) Staff Cost 231.3 265.8 990.4
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(b) Bad & Doubtful debts written-off/ provided
for (including provision for restructured
assets and provision for standard assets) 1,096.3 1,146.5 14,215.3
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(c) Other expenditure 826.5 635.6 3,054.3
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Total Expenditure 2,154.1 2,047.9 18,260.0
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4 Interest (including interest tax and
Expenses on Borrowings) 17,351.5 15,365.2 65,621.0
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5 Depreciation (including assets given on lease) 1,157.0 990.2 3,974.7
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6 Profit before tax 3,856.4 3,134.7 5,772.7
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7 Provision for taxation (including provision for
deferred tax) 600.0 260.0 400.0
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8 Net Profit after tax 3,256.4 2,874.7 5,372.7
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9 SEBI adjustments relating to change in accounting
policies for corresponding previous periods - - -
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10 Adjusted Profit after taxation 3,256.4 2,874.7 5,372.7
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11 Profit after tax reported earlier 3,256.4 2,874.7 5,372.7
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12 Adjustments relating to earlier years / change in
accounting policies - - -
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13 Taxation of earlier years (net) (See Note 3) - - (824.3)
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14 Profit for the period 3,256.4 2,874.7 4,548.4
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15 Paid up Equity Share Capital (face value Rs. 10 per
share) (including Equity Share Capital Suspense) 7,848.4
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16 Reserves excluding Revaluation Reserves 71,878.6
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17 Earning Per Share (Rs) 4.1 3.1 6.6
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18 Shareholding: No of shares Percentage of shareholding
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Deutsche Bank (As Depository for ADS holders) 256,414,285 32.65
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Insurance Companies 184,350,312 23.47
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FIIs and NRIs 119,798,137 15.25
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Individuals 79,668,857 10.14
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Bodies corporate 59,686,899 7.60
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Unit Trust of India 50,582,954 6.44
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Banks and Financial Institutions 24,438,430 3.11
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Mutual funds 10,291,512 1.31
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Shares in transit 114,062 0.01
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TOTAL: 785,345,448 100.00
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NOTES:
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1 Land and Buildings as on April 1, 2001 of the Company have been revalued
based on approved valuer's report. The increase in value of Rs. 7,225.5
million on this account is credited to Revaluation Reserve. Depreciation on
the increase in amount on account of revaluation is drawn from the
Revaluation Reserve.
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2 The Accounts are prepared in compliance with the Accounting Standards
referred to in Section 211(3C) of the Companies Act, 1956, except for
Accounting Standards 17 (Segment Reporting), 18 (Related Party
Disclosures), 20 (Earnings Per Share), 21 (Consolidated Financial
Statements) and 22 (Accounting for Taxes on Income). The Accounting
Standard Nos. 17, 18, 20 and 21 relate to additional disclosures and this
being quarterly accounts, additional disclosures are not made. As regards
Accounting Standard 22 "Accounting for Taxes on Income" the Company has
made provision for taxation during the current quarter applying provisions
of the standard. However, the deferred tax liability as on April 1, 2001
has not been created out of reserves as required by the standard. If such
liability was created, the Reserves and Surplus as on June 30, 2001 would
have been lower by Rs. 3,390.0 million.
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3 During the quarter ended June 30, 2001 the following companies have ceased
to be subsidiaries of ICICI Limited:
Date on which ceased to be
Name of Subsidiary Subsidiary
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1. ICICI Realty Ltd. June 29, 2001
2. ICICI Properties Ltd. June 29, 2001
3. ICICI Real Estate Ltd. June 29, 2001
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4 Command Systems Inc., Ivory International Inc., Command Delaware Holdings
LLC. and Nova Technology Inc., subsidiaries of the company, have been
merged with ICICI Infotech Inc., a subsidiary of the company, effective
from July 1, 2001.
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5 The above results were taken on record by the Board of Directors of the
Company at its meeting held on July 27, 2001.
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END