Unaudited Financial Results for the quarter ended 31st December 2007

Unaudited Financial Results for the quarter ended 31st December 2007

Pricol Limited  Regd. Office: 702/7  Avanashi Road, Coimbatore – 641 037 UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS  ENDED 31ST DECEMBER 2007

(Rs. in Million)

Particulars For the Three

Months Ended

For the Nine

Months Ended

Year Ended
31.12.2007 31.12.2006 31.12.2007 31.12.2006 31.03.2007
Reviewed Audited
(a)  Income from Sales & Services 1495.602 1509.723 4436.643 4307.972 5833.831
(b)  Other Income 24.437 7.207 55.090 19.745 28.437
(c) Total Income (a+b) 1520.039 1516.930 4491.733 4327.717 5862.268
(d) Expenditure
    (1) (Increase) / Decrease in     Stock in Trade   (58.202)   (12.188) (138.699) (46.972) 6.852
    (2) (Increase) / Decrease in  Work in Progress   (33.555)  (10.439) (136.619) (21.524) (21.298)
    (3) Consumption of  Raw   Materials & Components 978.888 905.784 2904.887 2574.396 3469.809
    (4) Employees’  Cost 250.804 223.010 698.619 653.318 870.259
    (5) Depreciation 84.050 75.894 245.109 223.581 295.924
    (6) Other Expenditure 223.328 180.983 618.529 508.703 661.699
    (7) Cost of In-house manufactured Machines &        Tools  Capitalised (33.971)  (29.083) (76.797) (71.625) (109.585)
  Total Expenditure 1411.342 1333.961 4115.029 3819.877 5173.660
(e)  Interest 66.723 41.209 202.508 118.365 180.481
(f) Profit from Ordinary Activities before Tax (c-d-e) 41.974 141.760 174.196 389.475 508.127
(g) Provision for:
 Current Taxation 10.892 43.000 49.645 124.000 160.000
 Fringe Benefit Tax 1.900 1.200 4.250 3.638 6.000
 Deferred Tax          (7.000)           (5.000)        (18.000)         (18.000) (20.000)
(h) Net Profit from Ordinary Activities after Tax [f – g] 36.182 102.560 138.301 279.837 362.127
 (i)Extraordinary items
(j)Net Profit [h – i] 36.182 102.560 138.301 279.837 362.127
(k)Paid-up-Equity Share Capital(Face Value of Re 1/- each) 90.000 90.000 90.000 90.000 90.000
(l) Reserves excluding   revaluation  reserve 1650.895
(m) Basic & Diluted Earnings Per Share (Rs.)(not annualised) [j /k] 0.40 1.14 1.54 3.11 4.02
(n)Public Share Holding:
 Number of shares 57,756,535 57,864,580 57,756,535 57,864,580 57,762,129
 Percentage of share holding 64.17 64.29 64.17 64.29 64.18
Notes:
1. Previous Period’s figures have been regrouped wherever necessary to conform to the current period’s classification.

2. The Company’s Operations mainly relate to One Segment .

3. An illegal strike by a section of workers at Coimbatore Plants during previous quarters has ended. However, it has affected the planned business growth, sales and profits of the nine months ended 31st December, 2007.    
 4. The above results have been reviewed by the audit committee and taken on record by the Board at its meeting held on 30th January, 2008. The statutory auditors have carried out a “Limited Review” of the above financial results. 
 5. The additional liability consequent to application of revised Accounting Standard 15 (AS 15) regarding retirement benefits to employees is  being ascertained by the company and the necessary adjustment will be done at the year end
6.  Investors’ Complaints : Pending as at the beginning  of the quarter – Nil,  Received  during the quarter- 13, Disposed off during the quarter – 11,  Pending at the end of the quarter -2 (since resolved)
Coimbatore

30-01-2008

By Order of the Board
VIJAY MOHAN
Chairman & Managing Director