AFT
INDUSTRIES LIMITED
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FINANCIAL HIGHLIGHTS
 AFT INDUSTRIES LIMITED (Assam Frontier Tea) Registered Office :Talap 786 156, Assam |
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Unaudited
Financial Results for the quarter / half-year ended September
30, 2003 Rs in Lacs |
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Particulars |
Three months ended | Six months ended | Year ended | |||
|---|---|---|---|---|---|---|
| 30.09.2003 (Unaudited) | 30.09.2002 (Unaudited) | 30.09.2003 (Unaudited) | 30.09.2002 (Unaudited) | 31.03.2003 (Audited) |
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| 1. | Net Sales/Income from operations | 2,223 |
2,990 |
3,644 |
4,633 |
9,316 |
| 2. | Other Income | 285 |
201 |
467 |
286 |
625 |
| 3. | Total Expenditure | 1,772 |
2,644 |
3,554 |
3,797 |
8,859 |
| (a) (Increase)/Decrease in stock | (1,346) |
(419) |
(1,942) |
(1,403) |
(78) |
|
| (b) Consumption of Raw Materials (Note 3) | 152 |
9 |
172 |
9 |
17 |
|
| (c) Staff Cost | 1,495 |
1803 |
2,904 |
2,955 |
5,198 |
|
| (d) Power and Fuel | 463 |
407 |
820 |
682 |
1,077 |
|
| (e) Other Expenditure | 1,008 |
844 |
1600 |
1554 |
2,645 |
|
| 4. | Interest | 87 |
107 |
180 |
157 |
323 |
| 5. | Depreciation | 96 |
100 |
175 |
190 |
356 |
| 6. | Profit before Tax ( 1+2-3-4-5) | 553 |
340 |
202 |
775 |
403 |
| 7. | Provision for Taxation (Note 4) | - |
- |
- |
- |
- |
| - Current Tax | 51 |
101 |
51 |
231 |
157 |
|
| - Deferred Tax (net) |
(6) |
(15) |
(10) |
(12) |
(35)-
|
|
| 8. | Net Profit ( 6-7) | 508 |
254 |
161 |
556 |
281 |
| 9. | Paid up Equity Share
Capital (Face value Rs 10/- per share) |
600 |
600 |
600 |
600 |
600 |
| 10. | Reserves excluding Revaluation Reserve | - |
- |
- |
- |
7,789 |
| 11. | Basic and Diluted EPS (Rs.) | 8.47 |
4.23 |
2.68 |
9.27 |
4.68 |
| 12. | Aggregate of Non Promoter Shareholdings | - |
- |
- |
- |
- |
| - Number of Shares | 15,44,050 |
15,44,050 |
15,44,050 |
15,44,050 |
15,43,550 |
|
| - Percentage of Share holding | 25.74 |
25.74 |
25.74 |
25.74 |
25.73 |
|
Reporting
of Segmentwise Results and Capital Employed Under Clause 41 of the Listing Agreement Rs in Lacs |
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Particulars |
Quarter ended 30.09.2003 |
Half Year ended 30.09.2003 |
Year ended 31.03.2003 |
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|---|---|---|---|---|---|---|
| 1. | Segment Revenue (Sales/Income from Operations) | - | - | - | ||
| a) Export | 793 |
793 |
1546 |
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| b) Domestic | 1430 |
2,851 |
7,770 |
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| Total | 2,223 |
3,644 |
9,316 |
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| Less: Inter Segment Revenue | - |
- |
- |
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| Net Sales / Income from operations | 2,223 |
3,644 |
9,316 |
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| - | - | - | ||||
| 2. | Segment Result (Profit before Interest and Tax from segment) | - | - | - | ||
| a) Export | 130 |
130 |
202 |
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| b) Domestic | 225 |
(215) |
427 |
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| Total | 355 |
(85) |
629 |
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| Less: Interest | 87 |
180 |
323 |
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| Add: Unallocated Income net of unallocable expenditure | 285 |
467 |
97 |
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| Profit before Tax | 553 |
202 |
403 |
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| 3. | Capital Employed | |||||
| a) Export | 791 |
791 |
31 |
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| b) Domestic | (181) |
292 |
314 |
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| Total | 610 |
1,083 |
345 |
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| Add: Unallocable corporate assets (net of corporate liabilities) | (102) |
20,792 |
21,369 |
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| Total Capital Employed | 508 |
21,875 |
21,714 |
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| Notes: | |
| 1. | The
above results have been taken on record at the Board Meeting held
on Tuesday, October 28, 2003, after due consideration of the same
by the
meeting of the Audit Committee held on the same date. |
| 2. | These Accounts
have been prepared in accordance with the Accounting Standards issued
by the Institute of Chartered Accountants of India. |
| 3. | Consumption
of raw material shown above represents cost of green leaf purchased
from others .The value of consumption of green leaf harvested from
the Company's own estates is not ascertainable because of integrated
operation of harvesting green leaf to manufacture of black tea ;
such disclosure is also exempted vide Notification No. S.O.954 (
E ) dated 25.09.2001 issued by the Department of Company Affairs. |
| 4. | a)
Provision for tax for the quarter ended September 30, 2003 is
based on estimate of taxable profits of the relevant period after
considering depreciation on fixed assets on the basis of
the Calcutta High Court in CIT vs Suman Tea & Plywoods Industries
Private Limited reported in 204 ITR 719. The ultimate tax
liability would be on the basis of taxable income for the year
ending March 31, 2004. |
| b)
Deferred Tax Assets pertaining to Agricultural Income Tax Losses
have not been recognised in the absence of virtual certainty of
availability of taxable Income in future years. |
|
| 5. | Status of investor grievances for the three months ended September 30, 2003 |
NO
OF COMPLAINTS |
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Pending
as at 01.07.03 |
Received
during the quarter |
Disposed
during the quarter |
Lying
unresolved as at 30.09.03 |
3
|
28 |
24 |
7 |
6. |
Tea industry is seasonal in character and as such results for
three months ended September 30, 2003 should not be construed
as representative of |
| 7. | Comparative figures have been regrouped / rearranged wherever necessary. |
| By
Order of the Board AFT INDUSTRIES LIMITED |
| KARAN
PAUL Director |
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| Kolkata, October 28, 2003 |