Punjab Alkalies

Punjab Alkalies & Chemicals Limited

PUNJAB ALKALIES & CHEMICALS LIMITED

Unaudited Financial Results (Provisional) for the Quarter Ended 31st December, 2005

						(Rs. in Lakhs)
Sr.	Particulars	Quarter	Quarter	Nine Months	Nine Months	Previous Accounting
No.		Ended	Ended	Ended	Ended	Year Ended
		31.12.2005	31.12.2004	31.12.2005	31.12.2004	31.3.2005
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1	Sales (incl.Excise Duty)	5250.76	5971.12	18514.70	14974.36	20713.42
	Excise Duty	755.14	869.02	2690.76	2138.81	2952.11
	Net Sales	4495.62	5102.10	15823.94	12835.55	17761.31
2	Other Income	94.37	19.61	229.55	81.38	232.59
3	Total Expenditure
	a) (Increase)/Decrease in stock in trade	8.33	(56.35)	(69.62)	(47.01)	15.43
	b) Consumption of raw materials, power & fuel etc.	3299.45	2778.88	10187.45	8226.16	10917.74
	c) Purchase of trading items	50.78	-	50.78	-	-
	d) Staff Cost	420.23	334.03	1047.75	846.70	1257.17
	e) Other Expenditure	297.56	230.78	1108.68	721.22	1122.08
4	Gross Profit before interest & depreciation	513.64	1834.37	3728.45	3169.86	4681.48
5	Interest	346.38	347.26	1021.65	1013.45	1376.63
6	Profit before depreciation	167.26	1487.11	2706.80	2156.41	3304.85
7	Depreciation etc.	333.36	323.59	1012.14	947.11	1283.66
8	Net Profit/(Loss) before taxation	(166.10)	1163.52	1694.66	1209.30	2021.19
9	a) Provision for Taxation - MAT	-	-	139.64	-	-
	b) Fringe Benefit Tax	5.86	-	12.05	-	-
10	Net Profit/(Loss) after taxation	(171.96)	1163.52	1542.97	1209.30	2021.19
11	Paid up equity capital (Face Value Rs.10/-)	2049.92	2046.72	2049.92	2046.72	2046.72
12	Reserves excluding revaluation reserves	-	-	-	-	3624.16
13	Earnings/(Loss) per Share (Rs.) (Not Annualised)
	a) Basic	(0.84)	5.68	7.54	5.91	9.87
	b) Diluted	(0.84)	2.77	2.80	2.88	4.09
14	Aggregate of Non-promoter Shareholding:
	a) Number of Shares	11445550	11445550	11445550	11445550	11445550
	b) Percentage of Shareholding	55.74%	55.74%	55.74%	55.74%	55.74%

Notes:

1. The Company has accounted for interest as per the Revised Restructuring Package approved by the Corporate Debt Restructuring (CDR) Empowered Group at the maximum interest rate of 10.5% p.a. in case of all lenders except ICICI Bank Limited, Bank of Punjab Limited and Punjab & Sind Bank where the interest has been accounted for @ 6% p.a., 5.26% p.a. and 9% p.a., respectively.

2. The Company has revalued its Fixed Assets (other than the 100 TPD Membrane Cell Plant Power Line) as on 31st March, 2004 on the basis of existing use value by an independent professional valuer. The revaluation of assets has been approved by the Board of Directors in its meeting held on 27th October, 2005. Accordingly, a sum of Rs.6243.16 lakhs being the surplus of the value of assets over the written down value, has been credited to the Revaluation Reserve. The Depreciation for the quarter ended 31st December, 2005 charged to Profit & Loss Account does not include the depreciation arising on revaluation of Fixed Assets for the period 1st April, 2004 to 31st December, 2005.

3. The Company operates in a single business segment viz., Chemicals. Hence segment reporting under AS - 17 is not applicable.

4. The Company has not recognised the Deferred Tax Assets in respect of the losses under AS-22 in view of the carried forward losses.

5. The Company did not have any investor complaint / query pending at the beginning of the quarter ended 31st December, 2005. The Company received 14 investor complaints/queries during the said quarter, which were disposed off. There were no investor complaints/queries pending at the end of the said quarter.

6. The above results were taken on record by the Board in its meeting held on 25th January, 2006.

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