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| AUDITED FINANCIAL RESULTS FOR THE PERIOD ENDED 31st March 2005 | |||||||||||||
| (Rs. In Lakhs) | |||||||||||||
| Sl.No | Particulars | Nine Months | Quarter Ended | Year Ended | |||||||||
| Ended | |||||||||||||
| 31.12.2004 | 31.03.2005 | 31.03.2004 | 31.03.2005 | 31.03.2004 | |||||||||
| (Unaudited) | (Audited) | (Audited) | |||||||||||
| 1 | Net Sales | 1,504.10 | 594.28 | 341.86 | 2,098.38 | 1,438.16 | |||||||
| 2 | Other Income | 7.82 | 1.37 | 6.79 | 9.19 | 12.69 | |||||||
| 3 | Total Expenditure | ||||||||||||
| a) (Increase)/Decrease in stock in Trade | 8.03 | (5.31) | (68.31) | 2.72 | (83.03) | ||||||||
| b) Consumption of Raw Materials | 1,148.20 | 446.15 | 297.98 | 1,594.35 | 1,067.52 | ||||||||
| c) Staff Cost | 97.14 | 37.17 | 32.23 | 134.31 | 112.50 | ||||||||
| d) Other Expenditure | 82.73 | 74.22 | 30.66 | 156.96 | 147.63 | ||||||||
| 4 | Interest | 75.64 | 24.17 | 21.83 | 99.81 | 88.22 | |||||||
| 5 | Depreciation | 46.92 | 15.58 | 13.53 | 62.49 | 55.18 | |||||||
| 6 | Profit Before Tax | 53.26 | 3.67 | 20.73 | 56.93 | 62.83 | |||||||
| 7 | Provision for Taxation | ||||||||||||
| a) Current Taxes | 4.23 | 0.36 | 1.75 | 4.59 | 5.06 | ||||||||
| b) Deferred Taxes | 17.22 | 0.36 | 16.29 | 17.59 | 23.82 | ||||||||
| 8 | Net Profit | 31.81 | 2.95 | 2.69 | 34.75 | 33.95 | |||||||
| 9 | Paid Up Equity Share Capital | 609.60 | 609.60 | 609.60 | 609.60 | 609.60 | |||||||
| (Face Value:Rs.10/- per Share) | |||||||||||||
| 10 | Reserves Excluding Revaluation Reserves | - | - | - | 34.41 | 54.01 | |||||||
| 11 | Basic and diluted EPS (in Rs.) | 0.52* | 0.05* | 0.04* | 0.57 | 0.56 | |||||||
| 12 | Aggregate of Non-promotors' Share Holding : | ||||||||||||
| Number of Shares | - | - | - | 3747332 | 2492400 | ||||||||
| Percentage of Holding | 61.47** | 40.89** | |||||||||||
| * Not Annualised | |||||||||||||
| Notes : | |||||||||||||
| 1. | The above results were reviewed by the Audit Committee and taken on record by the Board of Directors | ||||||||||||
| at its meeting held on 23rd June, 2005. | |||||||||||||
| 2. | The Company operates in a single primary business segment namely manufacture of "Packing Materials". | ||||||||||||
| 3. | Previous Year's figures were regrouped wherever necessary. | ||||||||||||
| 4. | Details of Investor complaints for the quarter ended March 31, 2005: beginning - Nil; | ||||||||||||
| received - Nil; disposed off - Nil and ending - Nil. | |||||||||||||
| 5. | Dues of the Sales Tax, Income-Tax and Excise Duty which have not been deposited on account of dispute and forum | ||||||||||||
| where the dispute is pending are as under: | |||||||||||||
| S.No | Name of the Statue Nature of Dues | Amount (Rs.) | Pertaining | Present Status | |||||||||
| i. | Sales Tax Sales Tax Demand | 1,198,383 | 1994-1995 | On Appeal the case was remanded | |||||||||
| to the Assessing Officer | |||||||||||||
| ii. | Sales Tax Sales Tax Demand | 1,657,701 | 1995-1996 | - do - | |||||||||
| iii. | Sales Tax Sales Tax Demand | 1,787,944 | 1996-1997 | - do - | |||||||||
| iv. | Sales Tax Sales Tax Demand | 1,846,548 | 1997-1998 | - do - | |||||||||
| v. | Sales Tax Sales Tax Demand | 2,100,282 | 1997-1998 | - do - | |||||||||
| vi. | Sales Tax Sales Tax Demand | 80,755 | 2001-2002 | - do - | |||||||||
| vii. | Central Excise Excise Duty Demand | 5,007 | 1998-1999 | The Customs Excise & Service Tax Appellate Tribunal, Chennai | |||||||||
| viii. | Income Tax Act 1961 Income tax & Interest | 535,659 | AY 1995-96 | Income Tax Appellate Tribunal,Chennai | |||||||||
| ix. | Income Tax Act 1961 Income tax & Interest | 1,007,247 | AY 1996-97 | Income Tax Appellate Tribunal,Chennai | |||||||||
| x. | Income Tax Act 1961 Income tax & Interest | 863,086 | Block Assessment | Preferred for an Appeal with ITAT, Chennai | |||||||||
| 6. | There was high variation in the price of rawmaterials. Hence there is vast difference in the profit before tax. | ||||||||||||
| 7. | ** The names of "Promoters" who holds 1198050 (19.65%) shares and who are in no way connected with the Management/Directors/ | ||||||||||||
| Relatives or Control over the affairs of the company have been taken to "Indian Public" as per the revised definition of | |||||||||||||
| "Promoters" issued by SEBI on 30.12.2004. | |||||||||||||
| 8. | The Board of Directors recommanded a dividend of 5% on Equity Shares for the year ended 31st March 2005. | ||||||||||||
| 9. | Expansion plans to the tune of Rs.720 Lakhs was approved by the Board of Directors. | ||||||||||||
| for and on behalf of the Board | |||||||||||||
| Place: | Chennai | DR. G.V. CHALAPATHI | |||||||||||
| Date : | 23.06.2005 | MANAGING DIRECTOR | |||||||||||