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Financials

SHAW WALLACE & COMPANY LIMITED
Unaudited Financial Results for the Quarter Ended 30th September, 2006.
 
  ( Rs. in Lacs )
Nine Months Quarter ended Half Year Ended Year Ended
Ended 31st Dec 30th September 30th September 31st March
2005 2006 2005 2006 2005 2006
(Unaudited)
             
1. Sales/ Income from operations 6126 7549 5685 13675 11681 20424
    Less : Excise duty 2638 3455 2523 6094 4983 8873
    Net Sales/Income from operations 3488 4094 3162 7581 6698 11551
             
2.Other Income 1048 156 111 1205 16049 17686
             
3.Total Expenditure ( a to h )                        3211 3877 2950 7085 14089 18822
             
  a) (Increase) / decrease in stock in trade (112) 100 (59) (12) (418) 341
  b) Consumption of raw materials 1163 1533 1276 2696 2496 3948
  c) Consumption of Stores, spares, Packing material 1103 1471 1136 2574 2236 3653
  d) Staff cost 205 320 219 525 672 979
  e) Professional / Consultancy charges 298 50 61 472 75 318
  f) Provision for diminution in value of investment 5116       4516 5116
  g) Provision for contingency 2900       3500 2900
  h) Other expenditure (7462) 403 317 831 1012 1567
             
4. Interest  117 206 39 323 277 496
             
5.Depreciation  38 38 38 76 72 140
             
6. Profit (+)/Loss (-) before taxation (1+2-3-4-5) 1171 129 245 1302 8309 9779
             
7.Provision for taxation ( Including deferred tax and fringe benefit tax)   55 90 611 4102 3778
              
8.Profit(+)/Loss(-) after taxation (6-7-8) #REF! 74 155 692 4207 6001
             
9.Paid up equity share capital (Face value of Rs. 10 per share) 4801 4801 4801 4801 4801 4801
             
10.Reserves excluding revaluation reserve            2187
             
11.Basic and diluted EPS (in Rs.) #REF! 0.15 0.33 1.44 8.76 12.50
             
12.Aggregate of Non -Promotor shareholding             
- Number of shares   12001520 12001520 12001520 12001520 12001520
- Percentage of shareholding   25.00 25.00 25.00 25.00 25.00
             
Notes :
  1. The above results have been subjected to limited review by the statutory auditors were taken on record in the meeting of the Board of Directors held on 26th October 2006.
  2. In respect of the audit qualifications pertaining to 31st March, 2005 with regard to: -

    a) Non-provision of various income tax demands being contested by the Company; income tax demands have either been set aside or adjusted and refunds have been granted to the Company. However, the matters for certain assessment years are pending before the Settlement Commission. The Company has provided / paid the tax liabilities as per tax computations, returns filed and admissions / estimations in this respect. Over and above, contingency provision amounting to Rs 61.50 crores has also been kept in the accounts. In view of the management, the provision made are adequate and no further provision for tax is necessary.
    b) Non-provision for interest on the balance of intercorporate deposit final settlement of which is pending; the Company maintains that pending outcome of negotiation / settlement, interest provided for in earlier years is adequate and no further provision in this respect is required to be made.
    c) Non provision of diminution in the value of investments; adequate provision for such diminution has been made during the year ended 31st March, 2006.
    d) Non-provision of liabilities for pension; Rs. 226 lacs has been provided for during the year ended 31st March 2006 on the basis of actuarial valuation.

  3. Shaw Wallace Distilleries Limited ceased to be a subsidiary of the Company with effect from 5th October, 2006 consequent to its amalgamation with McDowell & Company Limited (now known as United Spirits Limited).
  4. There was no complaint from the shareholders pending at the beginning of the current quarter. Eighteen complaints were received during the quarter and were duly attended. There is no pending complaint at the end of the quarter.
  5. The Company is currently having only one segment i.e., income from liquor business and therefore segmental disclosure requirement are no longer applicable.
  6. Previous period / year figures have been regrouped wherever necessary to conform to the current period's classification.
  By Order of the Board of Directors
  For Shaw Wallace & Company Limited
   
Place: Mumbai S. D. Lalla
Date: 26th October, 2006 Managing Director

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