| UNAUDITED FINANCIAL RESULTS (PROVISIONAL)
FOR THE QUARTER/ HALF YEAR ENDED 30th SEPT.
2008
(Rs. In Lacs) |
| Sno. |
Particulars |
Quarter Ended
30.09.2008 |
Corresponding Qtr. Ended
30.09.2007
|
Half Year Ended
30.09.2008
|
Corresponding Half Year Ended
30.09.2007
|
Year Ended
31.03.2008
|
| |
|
(Un Audited) |
(Un Audited) |
( Un Audited) |
(Un Audited) |
( Audited) |
| 1 |
Net Sales / Income from operations |
371.21 |
72.67 |
11,843.64 |
140.87 |
846.38 |
| 2 |
Other Income |
331.16 |
193.12 |
537.42 |
370.45 |
1066.75 |
| 3 |
Total Income(1+2) |
702.37 |
265.79 |
12,381.06 |
511.32 |
1913.13 |
| 4 Total Expenditure |
| a) |
Increase(-)/ Decrease (+) in stock in trade and work
in progress |
25.60 |
-103.10 |
-22.40 |
-130.78 |
72.62 |
| b) |
Consumption of Raw Materials |
172.54 |
137.10 |
251.38 |
200.79 |
408.07 |
| c) |
Purchase of Traded Goods |
0.45 |
1.81 |
11,200.83 |
6.14 |
50.25 |
| d) |
Employees
cost |
230.03 |
263.86 |
485.65 |
527.72 |
1002.95 |
| e) |
Depreciation |
27.50 |
33.00 |
55.00 |
66.00 |
121.76 |
| f) |
Other Expenditure (Including Excise Duty) |
144.46 |
86.41 |
242.45 |
169.93 |
527.35 |
| g) |
Total
(Any item exceeding 10% of the total expenditure
to be shown seperately)
|
600.58 |
419.08 |
12,212.91 |
839.80 |
2,183.00 |
| 5 |
Interest |
4.33 |
5.29 |
9.53 |
11.14 |
22.03 |
| 6 |
Exceptional
Items* |
NA |
NA |
NA |
NA |
NA |
| 7 |
Profit (+)/ Loss(-) from Ordinary Activities Before Tax
(3)-(4+5+6) |
97.46 |
-158.58 |
158.62 |
-339.62 |
-291.90 |
| 8 |
Tax Expense |
2.00 |
0.00 |
3.00 |
7.00 |
-10.65 |
| 9 |
Net Profit (+)/Loss(-) from Ordinary Activities after
tax (7-8) |
95.46 |
-158.58 |
155.62 |
-346.62 |
-281.25 |
| 10 |
Extraordinary
items (net of tax expense Rs. )* |
NA |
NA |
NA |
NA |
NA |
| 11 |
Net
Profit(+)/Loss(-) for the period (9-10) |
95.46 |
-158.58 |
155.62 |
-346.62 |
-281.25 |
| 12 |
Paid up Equity Share Capital (Face value of the Share
is Rs.10/-) |
1,202.35 |
1,202.35 |
1,202.35 |
1,202.35 |
1,202.35 |
| 13 |
Reserves excluding revaluation reserve (As per Balance
Sheet of Previous Accounting Year) |
9,393.10 |
9,166.90 |
9,393.10 |
9,166.90 |
9,237.48 |
| 14 |
Earning Per Share -Basic/Diluted
a) Basic and diluted EPS before the Extraordinary items
for the periood, for the year to date and for the
previous year(not to be annulaised)
b) Basic and diluted EPS after the Extraordinary items
for the period, for the year to date and for the
previous year(not to be annulaised) |
0.79
0.79 |
-1.32
-1.32 |
1.29
1.29 |
-2.88
-2.88 |
-2.34
-2.34 |
| 15 |
Public Shareholding
-Number
of shares
-Percentage
of shareholding |
3461864
28.79 |
3461864
28.79 |
3461864
28.79 |
3461864
28.79 |
3461864
28.79 |
* There were no
Exceptional items and no Extraordinary items during
the quarter under review.
Notes |
|
1. |
The aforesaid
Unaudited Financial Results (Provisional) for the Quarter/Half Year ended
30th Sept., 2008 have been taken on record by the Board
of Directors in their meeting held on 27th
October,
2008. |
2. |
The company
is Primarily engaged in the business of Telecom
and its spares. As the basic nature of these activities
are governed by same set of risks and returns, the
sales have been grouped as single segment in the
accounts as per Accounting Standard-17 dealing with
'Segment Reporting' issued by ICAI. Other income
for the half year includes a sum of Rs.435.61 lacs being interest income on the Investments made
by the company. |
3. |
In respect
of Accounting Standard 22 on " Accounting for taxes
on Income" issued by the Institute of
Chartered Accountants of India (ICAI), no
provision of income tax is required in respect of
Deferred Tax Liability for the current half year
ended 30th September, 2008.The carrying amount in
respect of deferred Tax Liability as on 30th
September, 2008 shall be reviewed & considered
in the annual accounts for the year ending 31st
March, 2009. |
| 4. |
Total complaints
received during the quarter ended 30th September,
2008 were two(2) in number and
all these were disposed off well in time and no complaint
is pending. |
| 5. |
The
Management's perception on the observations made by
the Auditors on the Annual Accounts (2007-08) is
given hereunder :
i) As
regards non-recognition of the accrued in it amounts
to Rs.968.43 lacs (upto 12.07.2005) from UPCSMFL
along with further interest @18% as per decree
awarded by the court, the execution of the same is
pending before the lower court. Matter being sub-judice
will be decided as per the legal procedure. The same
has been in accordance with AS-9 on revenue
Recognition.
ii) As regards observation made by the Auditors
regarding recognition of revenue on sales amounting
to RS.32.23 lacs which has not been in accordance
with Accounting Standard (AS-9) issued by institute
of Chartered Accountants of India (ICAI), the same
have been accounted for as per past practice.
iii)Regarding accounting of certain income and
expenditure on cash basis, the same has been
accounted for as per disclosures of Accounting
Policy given in schedule 22 of the accounts .
iv) As regards excise duty demand including penalty
and interest aggregating to RS.247.14. lacs (net of
pre-deposits which is disputed, we are to inform that
company has filed an appeal and the same is pending
before the Central Excise Tribunal.
v)
As regards Sale Tax demand including interest
aggregating to Rs 36.98 Lacs (net of pre deposit),
which is disputed, we are to inform that company has
filled an appeal and the same is pending in the
office of Commissioner Appeal, Commercial Taxes. |
|
|
|
|
For and on behalf of the Board |
|
|
| Place : S.A.S. Nagar |
Anurag Verma, IAS |
| Date : October 27, 2008 |
Managing Director |
|
