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Unaudited Financial Results for the Quarter ended 30th September, 2009
Sr. No. Particulars Quarter ended  30.09.2009 (Unaudited) Quarter ended  30.09.2008 (Unaudited) Half Year ended  30.09.2009 (Unaudited) Half Year ended   30.09.2008 (Unaudited) Year ended 31.03.2009 (Audited)   
1(a) Net Sales 5754.97 4820.27 9933.65 8662.43 16510.22
(b) Other Operating Income 129.11 1.58 208.34 3.63 14.78
  Total (1a+1b) 5884.08 4821.85 10141.99 8666.06 16525.00
2 Expenditure          
  a)  (Increase) / Decrease in Stock-in-Trade & Work in Progress 52.18 231.43 (90.44) 64.05 (188.98)
  b)  Consumption of Raw Materials 4068.67 3680.40 7156.68 6469.07 11734.66
  c)  Employee Cost 547.86 485.92 1060.47 907.98 1858.00
  d) Depreciation and Amortisation 1137.85 1175.85 2275.70 2351.72 4551.43
  e)  Other Expenditure 792.52 757.13 1435.29 1388.91 2829.37
  Total  6599.08 6330.73 11837.70 11181.73 20784.48
3 Profit / (Loss) from Operations before Other Income, Interest and Exceptional Items (1-2) (715.00) (1508.88) (1695.71) (2515.67) (4259.48)
4  Other Income                      -                       -                       -                       -                       -  
5 Profit / (Loss) before Interest and Exceptional Items (3+4) (715.00) (1508.88) (1695.71) (2515.67) (4259.48)
6 Interest  47.51 49.65 86.75 97.10 201.12
7 Profit / (Loss) after Interest but before Exceptional Items (5-6) (762.51) (1558.53) (1782.46) (2612.77) (4460.60)
8 Exceptional Items - Income/(Expense)                     -                       -                       -                       -                       -  
9 Profit / (Loss) from Ordinary Activities before Tax (7-8) (762.51) (1558.53) (1782.46) (2612.77) (4460.60)
10 Tax Expense - Fringe Benefit Tax                     -   7.23                     -   10.53 28.06
11 Profit / (Loss) from Ordinary Activities after Tax (9-10) (762.51) (1565.76) (1782.46) (2623.30) (4488.66)
12 Extraordinary Items-Income/(Expense)         3,385.77                     -           3,385.77                     -   804.34
13 Net Profit /(Loss) for the period  (11-12) 2623.26 (1565.76) 1603.31 (2623.30) (3684.32)
14 Paid-up Equity Share Capital (Face Value of Rs.2/- each) 8995.86 7146.06 8995.86 7146.06 7146.06
15 Reserves excluding Revaluation reserves                     -                       -                       -                       -   12346.39
16 a) Earning Per Share before Extraordinary Items (in Rs.)          
  - Basic & Diluted (0.19) (0.44) (0.47) (0.75) (1.26)
  b) Earning Per Share after Extraordinary Items (in Rs.)          
  - Basic & Diluted 0.64 (0.44) 0.42 (0.75) (1.03)
17 Public Shareholding          
  Number of Shares 294454615 201964202 294454615 201964202 200805346
   Percentage of shareholding 65.46 56.52 65.46 56.52 56.20
18 Promoters and Promoter Group Shareholding          
  a) Pledged / Encumbered          
   - Number of Shares 610000 NA 610000 NA 1768856
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group) 0.39 NA 0.39 NA 1.13
  - Percentage of shares (as a % of the total share capital of the company) 0.14 NA 0.14 NA 0.50
  b) Non-encumbered          
      - Number of Shares 154761588 NA 154761588 NA 154761588
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group) 99.61 NA 99.61 NA 98.87
  - Percentage of shares (as a % of the total share capital of the company)              34.40 NA              34.40 NA 43.31
               
Notes:
  1. The above results, after approval by audit committee have been adopted by the Board of Directors at its meeting held on 27th October, 2009. A limited review of the same has been conducted by the Statutory Auditors.
  2. During the quarter, Hon'ble High Court of Himachal Pradesh, has approved the scheme of arrangement and compromise filed under Section 391 of Companies Act, 1956. The Fixed Deposit Holders have now become the Shareholders in the Company and have been allotted 9,24,90,413 Equity Shares of Rs. 2/- each at a price of Rs.11.32 per share, determined as per SEBI Guidelines. The waiver under the scheme has been accounted for under extra ordinary items appearing under point 12 above.
  3. Consolidated Income from Operations, Profit(Loss) after tax and EPS (after extraordinary items) for the quarter ended September 30th, 2009 stands at Rs. 6582.39 Lacs, Rs.2752.65 Lacs & Rs. 0.68 respectively
  4. During the Quarter, no shareholder's complaint was received.
  For and on behalf of the Board
Place: New Delhi
Date: 27.10.2009
(Sushil Suri)
Chairman & Managing Director