Apeejay Tea Limited

FINANCIAL HIGHLIGHTS


	Particulars	Nine Months ended	Three Months Ended		Year ended
APEEJAY TEA LIMITED (Formerly AFT Industries Limited) Registered Office :Talap 786 156, Assam
Audited Financial Results for the year ended March 31, 2005 Rs in Lacs
	Particulars	31.12.2004	31.03.2005	31.03.2004	31.03.2005	31.03.2004
1.	Gross Sales ( including claims )	6,865	2,022	1,972	8,887	8,695
	Less : Excise duty ( net )	99	56	11	155	92
	Net Sales/Income from operations	6,766	1,966	1,961	8,732	8,603
2.	Other Income	478	276	338	754	1,004
3.	Total Expenditure	5,946	3,221	3,307	9,167	10,026
	(a) (Increase)/Decrease in stock	(1,915)	1,643	1,584	(272)	300
	(b) Consumption of Raw Materials (Note 3)	362	36	-	398	388
	(c) Staff Cost	4,318	757	934	5,075	5,164
	(d) Power and Fuel	1,183	187	155	1,370	1,311
	(e) Other Expenditure	1,998	598	634	2,596	2,863
4.	Interest	189	84	65	273	336
5.	Depreciation	241	87	88	328	339
6.	Profit before Tax ( 1+2-3-4-5) *	868	(1,150)	(1,161)	(282)	(1,094)
7.	Provision for Taxation
	- Current Tax	25	(25)	(105)	-	-
	- Deferred Tax (net)	(15)	(8)	(9)	(23)	(20)
8.	Net Profit ( 6-7)	858	(1,117)	(1,047)	(259)	(1,074)
9.	Paid up Equity Share Capital (Face value Rs 10/- per share)	600	600	600	600	600
10.	Reserves excluding Revaluation Reserve				6,454	6,715
11.	Basic and Diluted EPS (Rs.)	14.30	(18.62)	(17.45)	(4.31)	(17.90)
12.	Aggregate of Non Promoter Shareholding
	- Number of Shares	15,43,550	15,43,350	15,43,350	15,43,550	15,43,550
	- Percentage of Share holding	25.73	25.73	25.73	25.73	25.73
	* after considering Exchange (Gain) / Loss - Net	38	13	(105)	51	(182)


	Particulars	Three Months Ended		Year Ended
Reporting of Segmentwise Results and Capital Employed Under Clause 41 of the Listing Agreement Rs in Lacs
		31.03.2005	31.03.2004	31.03.2005	31.03.2004
1.	Segment Revenue (Sales/Income from Operations)
	a) Export	50	-	1,123	1,530
	b) Domestic	1,916	1,961	7,609	7,073
	Total	1,966	1,961	8,732	8,603
	Less: Inter Segment Revenue			-	-
	Net Sales / Income from operations	1,966		6,766	8,603

2.	Segment Result (Profit before Interest and Tax from segment)
	a) Export	(117)		51	(123)
	b) Domestic	(1,068)	(884)	(231)	(1,017)
	Total	(1,185)	(884)	(180)	(1,140)
	Less: Interest	84	65	273	336
	Add: Unallocated Income net of unallocable expenditure	119	(212)	171	382
	Profit before Tax	(1,150)	(1,161)	(282)	(1,094)

3.	Capital Employed
	a) Export	-	(1)	-	(1)
	b) Domestic	94	45	94	45
	Total	94	44	94	44
	Add: Unallocable corporate assets (net of corporate liabilities)	18,783	19,997	18,783	19,997
	Total Capital Employed	18,877	20,041	18,877	20,041

Notes:
1.	The above results have been taken on record at the Board Meeting held on Thursday, June 30, 2005, 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 .
4.	In accordance with Accounting Standard - 22 issued by Institute of Chartered Accountants of India , the deferred tax liability(net) at the end of the year works out to Rs.185 lacs after adjustment of deferred tax asset of Rs.23 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, 2005

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

	By order of the Board
	APEEJAY TEA LIMITED

Kolkata, June 30, 2005

Chairperson