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FINANCIAL HIGHLIGHTS
 APEEJAY TEA LIMITED (Formerly AFT Industries Limited) Registered Office :Talap 786 156, Assam |
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| Unaudited
Financial Results for the quarter/ half-year ended December
31, 2005 Rs in Lacs |
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Particulars |
Quarter Ended | Nine Months Ended | Year ended | |||
|---|---|---|---|---|---|---|
| 31.12.2005 (Unaudited) |
31.12.2004 (Unaudited) |
31.12.2005 (Unaudited) |
31.12.2004 (Unaudited) |
31.03.2005 (Audited) |
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| 1. | Gross Sales ( including claims ) | 3,180 |
2,731 |
7,064 |
6,865 |
8,887 |
| Less : Excise duty ( net ) | 15 |
45 |
33 |
99 |
155 |
|
| Net Sales/Income from operations | 3,165 |
2,686 |
7,031 |
6,766 |
8,732 |
|
| 2. | Other Income | 176 |
166 |
486 |
478 |
754 |
| 3. | Total Expenditure | 3,136 |
2,481 |
6,604 |
5,946 |
9,167 |
| (a) (Increase)/Decrease in stock | 686 |
359 |
(1,722) |
(1,915) |
(272) |
|
| (b) Consumption of Raw Materials (Note 3) | 33 |
140 |
206 |
362 |
398 |
|
| (c) Staff Cost | 1,322 |
1,257 |
4,436 |
4,239 |
5,075 |
|
| (d) Power and Fuel | 377 |
340 |
1,355 |
1,183 |
1,370 |
|
| (e) Stores and Spares | 142 |
109 |
757 |
551 |
662 |
|
| (e) Other Expenditure | 576 |
276 |
1,572 |
1,526 |
1,934 |
|
| 4. | Interest | 129 |
66 |
278 |
189 |
273 |
| 5. | Depreciation | 101 |
87 |
269 |
241 |
328 |
| 6. | Profit / Loss before Tax ( 1+2-3-4-5) * | (25) |
218 |
366 |
868 |
(282) |
| 7. | Provision for Taxation | |
|
|
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| - Current Tax | - |
- |
20 |
25 |
- |
|
| - Deferred Tax (net) | (6) |
(5) |
(17) |
(15) |
(23) |
|
| - Fringe Benefit Tax (net) | 7 |
- |
25 |
- |
- |
|
| 8. | Net Loss ( 6-7) | (26) |
223 |
338 |
858 |
(259) |
| 9. | Paid
up Equity Share Capital (Face value Rs 10/- per share) |
600 |
600 |
600 |
600 |
600 |
| 10. | Reserves excluding Revaluation Reserve | |
|
6,454 |
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| 11. | Basic and Diluted EPS (Rs.) | (0.43) |
3.72 |
5.63 |
14.30 |
(4.31) |
| 12. | Aggregate of Non Promoter Shareholding | |||||
| - Number of Shares | 15,43,550 |
15,43,350 |
15,43,550 |
15,43,350 |
15,43,550 |
|
| - Percentage of Share holding | 25.73 |
25.73 |
25.73 |
25.72 |
25.73 |
|
| * after considering Exchange (Gain) / Loss - Net | 25 |
(134) |
32 |
38 |
51 |
|
| Reporting of Segmentwise Results and Capital Employed
Under Clause 41 of the Listing Agreement Rs in Lacs |
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|---|---|---|---|---|---|---|
| Particulars | Quarter Ended | Nine Months Ended | Year ended | |||
| 31.12.2005 (Unaudited) |
31.12.2004 (Unaudited) |
31.12.2005 (Unaudited) |
31.12.2004 (Unaudited) |
31.03.2005 (Audited) |
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| 1. | Segment Revenue (Sales/Income from Operations) | |||||
| a) Export | 151 |
310 |
249 |
1,073 |
1,123 |
|
| b) Domestic | 3,014 |
2,376 |
6,782 |
5,693 |
7,609 |
|
| Total | 3,165 |
2,686 |
7,031 |
6,766 |
8,732 |
|
| Less: Inter Segment Revenue | - |
- |
- |
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| Net Sales / Income from operations | 3,165 |
2,686 |
7,031 |
6,766 |
8,732 |
|
| 2. | Segment Result (Profit before Interest and Tax from segment) | |||||
| a) Export | 11 |
14 |
15 |
168 |
51 |
|
| b) Domestic | 143 |
143 |
678 |
837 |
(231) |
|
| Total | 154 |
157 |
693 |
1,005 |
(180) |
|
| Less: Interest | 129 |
66 |
278 |
189 |
273 |
|
| Add: Unallocated Income net of unallocable expenditure | (50) |
127 |
(49) |
52 |
171 |
|
| Profit / Loss before Tax | (25) |
218 |
366 |
868 |
(282) |
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| 3. | Capital Employed | |||||
| a) Export | 111 |
211 |
111 |
211 |
- |
|
| b) Domestic | 587 |
202 |
587 |
202 |
94 |
|
| Total | 698 |
413 |
698 |
413 |
94 |
|
| Add: Unallocable corporate assets (net of corporate liabilities) | 18,517 |
20,486 |
18,517 |
20,486 |
18,783 |
|
| Total Capital Employed | 19,215 |
20,899 |
19,215 |
20,899 |
18,877 |
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| Notes: | |
| 1. | The
above results have been taken on record at the Board Meeting
held on Friday, January 27, 2006, 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. | a)
Provision for tax for the quarter ended December 31, 2005
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, 2006 |
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. |
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| 5. | Status of investor grievances for the three months ended December
31, 2005 |
| NO OF COMPLAINTS |
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| Pending as at 01.10.05 |
Received during the quarter |
Attende to / Disposed of during the quarter |
Lying unresolved as at 31.12.2005 |
| Nil |
12 |
12 |
Nil |
| 6. | Tea industry is seasonal in character and as such results for three months ended December 31, 2005 should not be construed as representative of the likely result of the Company for the financial year ending March 31, 2006. |
| 7. | (a)
During the quarter ended 31st December, 2005, the Company
invested US $ 3300 (Rs.1.49 lacs) in Equity Shares ( 33%) (b) The
Company also disbursed to the aforesaid joint venture a loan
of GBP 68,72,317.47 ( Rs. 5529 lacs , recognised in |
| 8. | For better profitability and utilisation of resources, it has been considered beneficial for the Company, subject to required approvals, to demerge and transfer one of its Tea Estates, through a Scheme of Arrangement, to a new company formed for this purpose. |
| 9. | Comparative figures have been regrouped / rearranged wherever necessary. |
| By order of the Board | |
| APEEJAY TEA LIMITED |
| Kolkata, January 27, 2006 |
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