AFT Industries Limited

FINANCIAL HIGHLIGHTS


	Particulars	Nine months ended	Three months ended		Year ended
AFT INDUSTRIES LIMITED (Assam Frontier Tea) Registered Office :Talap 786 156, Assam
Audited Financial Results for the year ended March 31, 2004 Rs in Lacs
	Particulars	31.12.2003	31.12.2003	31.12.2002	31.03.2004	31.03.2003
1.	Net Sales/Income from operations	6,723	6,723	7,668	8,695	9,316
	Less: Excise Duty (net of refund)	81	11	(55)	92	16
	Net Sales/ Income from operations	6,642	1,961	1,703	8,603	9,300
2.	Other Income	666	338	250	1,004	625
3.	Total Expenditure	6,719	3,307	2,715	10,026	8,843
	(a) (Increase)/Decrease in Stock-in-trade	(1,284)	1,584	1,162	300	(78)
	(b) Consumption of Raw Materials (Note 3)	388	-	-	388	17
	(c) Staff Cost	4,230	1,014	1,075	5,244	5,198
	(d) Power and Fuel	1,156	155	127	1311	1,077
	(e) Other Expenditure	2,229	554	351	2,783	2,629
4.	Interest	271	65	103	336	323
5.	Depreciation	251	88	57	339	356
6.	Profit before Tax ( 1+2-3-4-5)	67	(1,161)	(922)	(1,094)	403
7.	Provision for Taxation (Note 4)	-	-	-		-
	- Current Tax	105	(105)	(83)	-	157
	- Deferred Tax (net)	(11)	(9)	(39)	(20)	(35)-
8.	Net Profit/ Loss ( 6-7)	(27)	(1,047)	(800)	(1074)	281
9.	Paid up Equity Share Capital (Face value Rs 10/- per share)	600	600	600		600
10.	Reserves excluding Revaluation Reserve	-	-	-	6,715	7,789
11.	Basic and Diluted EPS (Rs.)	(0.45)	(17.45)	(13.33)	(17.90)	4.68
12.	Aggregate of Non Promoter Shareholdings	-	-	-		-
	- Number of Shares	15,48,950	15,43,550	15,43,550		15,43,550
	- Percentage of Share holding	25.82	25.73	25.73		25.73


		Three months ended		Year ended
Reporting of Segmentwise Results and Capital Employed Under Clause 41 of the Listing Agreement Rs in Lacs
	Particulars	31.12.2004	31.03.2003	31.03.2004	31.03.2003
1.	Segment Revenue (Sales/Income from Operations)		-		-
	a) Export	-	105	1,530	1546
	b) Domestic	1,961	1,598	7,073	7,754
	Total	1,961	1,703	8,603	9,300
	Less: Inter Segment Revenue	-	-		-
	Net Sales / Income from operations	1,961	1,703	8,603	9,300
			-		-
2.	Segment Result (Profit before Interest and Tax from segment)		-		-
	a) Export	-	17	(123)	202
	b) Domestic	(884)	(677)	(1,017)	427
	Total	(884)	(660)	(1,140)	629
	Less: Interest	65	103	336	323
	Add: Unallocated Income net of unallocable expenditure	(212)	(159)	382	97
	Profit before Tax	(1,161)	(922)	(1,094)	403

3.	Capital Employed
	a) Export	(1)	31	(1)	31
	b) Domestic	45	314	45	314
	Total	44	345	44	345
	Add: Unallocable corporate assets (net of corporate liabilities)	19.997	21,369	19,997	21,369
	Total Capital Employed	20,041	21,714	20,041	21,714

Notes:
1.	The above results have been taken on record at the Board Meeting held on Friday, June 11, 2004, 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.	In accordance with the Accounting Standard - 22 issued by the Institute of Chartered Accountants of India, the deferred tax liability(net) at the end of the year works out to Rs 208 lacs after adjustment of deferred tax asset of Rs 20 lacs arising during the year.Deferred tax asset arising out of Agricultural Income Tax has not been recognised as a matter of prudence.
5.	Status of investor grievances for the three months ended March 31, 2004

NO OF COMPLAINTS
Pending as at 01.01.04	Received during the quarter	Disposed during the quarter	Lying unresolved as at 31.03.04
2	10	11	1

6.	Comparative figures have been regrouped / rearranged wherever necessary.

By Order of the Board

AFT INDUSTRIES LIMITED