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UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE NINE MONTHS ENDED 31st DECEMBER 2003
Key Indicators
Quarterly Results
Annual Results
Directors Report

 

Beginning
Promoters
Management
Philosophy
Future

 

Pure Ghee
Skimmed Milk Powder
Whole Milk Powder
Dairy Creamer
Dairy Whitener

 

Patiala
Hamira
Moradabad
Branches

 

      (Rs. in lakhs)   
     Particulars Q/E  Dec-2003

    Q/E Dec-2002 

YTD Dec-2003

YTD Dec-2002

  FY Mar-2003          (Audited)

 (1)

  (2)  (3)  (4)  (5)
 1.Net Income from Sales/Services           5,628           4,447              9,640              9,809            16,357
 2. Cost of Sales/Services          
 a) (Increase)/Decrease in Stock in Trade             (819)             (308)             (1,277)                     6                603
 b) Consumption of Raw Materials           5,542           4,002              9,360              8,271            13,287
 c) Other Expenditure              470               418                 847                 924              1,449
 3. Gross Profit              435              335                 710                 608              1,018
 4. General Administrative Expenses               144               174                 499                 538                732
 5. Selling and Distribution Expenses               153               103                 228                 225                370
 6.Operating Profit/(Loss) before Interest & Depreciation               138                58                  (17)                (155)                (84)
 7. Interest (Net)                 (3)                 (1)                     4                  (12)                 (10)
 8. Depreciation                20                33                   59                   97                 131
 9.Operating Profit / (Loss) after Interest & Depreciation               121                26                 (80)               (240)              (205)
 10.Other Income                 11                  7                   25                   20                  78
 11.Profit/(Loss) before Tax               132                33                 (55)               (220)               (127)
 12. Provision for Taxation          
  a) Current Tax                 -                   -                     -                     -                    -  

  b) Deferred Tax  Liability/(Asset)

                98                 -                     32                     5                (39)
 13. Net Profit/(Loss)                 34                33                 (87)               (225)                (88)
 14. Paid-up Equity Share Capital              489              489                 489                 489                489
15.Reserves excluding  revaluation reserves (as per balance sheet) of previous   accounting year - - - -   2,089
 16.Basic and diluted EPS              0.70             0.67 -            1.79 -             4.60 -             1.80
 17.AggregateofNon-Promoters Shareholding          
  -Number of Shares              2,384,900
  -Percentage of Shareholding         48.81%

 1. No provision for gratuity as on 31st December,2003 has been made in these accounts amounting to Rs. 158.25 lacs     (December 31,2002 - Rs. 143.82 lacs)calculated in accordance with payment of Gratuity Act,1972 not actuarially     determined for employees  and of which Rs. 3.98 lacs (Previous quarter ended December 2002- Rs. 0.38 lacs) relates to current period.The company is in process of reviewing its accounting policy with respect to gratuity

  2. The interest expense is net of interest income of Rs. 21.11 lacs (December 31 ,2002 Rs. 40.80 lacs).

  3. The company is operating under a single segment i.e., "Dairy Products - comprising ghee and  milk powder" and therefore there are no reportable segments as per AS-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India.

  4.  Contingent Liabilities - Claims against the company not acknowledged as debts - Rs. 314.88 Lacs.

  5. The company has received 3 investor complaints during the current quarter and all these complaints have been resolved.

 6. The Company has shut down operations of its Gurgoan Plant and in the process of evaluating the offer received for sale of its net assets. In the opinion of the management , the realisable value of net assets is expected to be much higher   than the book value of Rs. 479.32 lacs , and hence no provision is considered necessary. No Depreciation for the current  year has been provided.

  7. Previous period figures have been recast wherever necessary to make them comparable with those of current period.

  8.The above results have been taken on record by the Board of Directors in their meeting held on 31st January,2004.