Punjab Alkalies

Punjab Alkalies & Chemicals Limited

PUNJAB ALKALIES & CHEMICALS LIMITED

Audited Financial Results 2006-07

(Rs. in Lakhs)

Sr. No.	Particulars	Nine Months Ended 31.12.2006 (Unaudited)	Quarter Ended 31.03.2007 (Unaudited)	Quarter Ended 31.03.2006 (Unaudited)	Financial Year Ended 31.03.2007 (Audited)	Financial Year Ended 31.3.2006 (Audited)
1	Sales (incl.Excise Duty)	18221.60	5356.94	6071.54	23578.54	24586.24
	Excise Duty	2646.10	760.02	857.00	3406.12	3547.76
	Net Sales	15575.50	4596.92	5214.54	20172.42	21038.48
2	Other Income	186.20	68.63	58.27	254.83	287.82
3	Total Expenditure
	a) (Increase)/Decrease in stock in trade	(123.60)	52.73	55.60	(70.87)	(14.02)
	b) Consumption of raw materials, power & fuel etc.	11090.90	3534.84	3681.16	14625.74	13868.61
	c) Purchase of trading items	188.26	133.47	148.69	321.73	199.47
	d) Staff Cost	1061.23	265.32	264.76	1326.55	1312.51
	e) Other Expenditure	1053.20	317.63	358.16	1370.83	1466.84
4	Gross Profit before interest & depreciation	2491.71	361.56	764.44	2853.27	4492.89
5	Interest	965.63	292.32	338.49	1257.95	1360.14
6	Profit before depreciation	1526.08	69.24	425.95	1595.32	3132.75
7	Depreciation etc.	1024.39	335.06	330.85	1359.45	1342.99
8	Net Profit/(Loss) before taxation	501.69	(265.82)	95.10	235.87	1789.76
9	a) Provision for Taxation - MAT	72.16	(34.52)	(4.43)	37.64	135.21
	b) Fringe Benefit Tax	8.69	2.56	4.50	11.25	16.55
	c) Deferred Tax	175.49	(87.74)	373.36	87.75	373.36
10	Net Profit/(Loss) after taxation	245.35	(146.12)	(278.33)	99.23	1264.64
11	Paid up equity capital (Face Value Rs.10/-)	2049.95	2049.96	2049.95	2049.96	2049.95
12	Reserves excluding revaluation reserves	-	-	-	3629.35	3632.32
13	Earnings/(Loss) per Share (Rs.) (Not Annualised)
	a) Basic	1.20	(0.71)	(1.36)	0.48	6.17
	b) Diluted	0.48	(0.71)	(1.36)	0.28	2.28
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 Revised Restructuring Package sanctioned by the CDR Empowered Group on 15th June, 2004 inter-alia provided an option for conversion of part of loans into Equity Shares and Cumulative Redeemable Preference shares on at par basis to the lenders who opt for this option. Accordingly, Industrial Development Bank of India Limited (IDBI), IFCI Limited (IFCI), Life Insurance Corporation of India (LIC) and Punjab National Bank (PNB) have opted for this option. The Company has also received notices from IDBI and IFCI for the conversion of part of loans into Equity Shares and from PNB and LIC for the Conversion of part of loans into Equity Shares and Cumulative Redeemable Preference Shares. The Board of Directors had, inter-alia, agreed, in principle, to issue subject to the consent of the Shareholders under the relevant provisions of the Companies Act, 1956 and also subject to the outcome of the Informal Guidance of the Securities and Exchange Board of India (SEBI) by way of Interpretive Letter under the SEBI (Informal Guidance) Scheme, 2003 sought by the Company vide its letter dated 10th April, 2006, regarding applicability of the Guidelines for Preferential Issues (as amended) as per Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000, and also subject to such other approvals, permissions, sanctions and consents as may be necessary, said shares of the Company to IDBI, IFCI, PNB and LIC as per their notices. The Board of Directors had subsequently decided to defer the matter regarding the issue of Equity Shares of the Company to IDBI, IFCI, LIC and PNB upon conversion of part of their loans, for the time being.

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

4. The Company had 4 investor complaints/queries pending at the end of the quarter ended 31st December, 2006, which were disposed off in the beginning of the quarter ended 31st March, 2007. The Company received 37 investor complaints/queries during the quarter ended 31st March, 2007, which were disposed off. There were no Investor complaints/queries pending at the end of the said quarter.

5. The above results were taken on record by the Board in its meeting held on 20th June, 2007.


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