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Financials

SHAW WALLACE & COMPANY LIMITED
Unaudited Financial Results for the Quarter Ended 30th June, 2006.
 
  ( Rs. in Lacs )
  Quarter ended Year Ended
  30th June March
  2006 2005 2006
      (Unaudited)
       
1. Sales/ Income from operations 6126 5996 20424
    Less : Excise duty 2638 2460 8873
    Net Sales/Income from operations 3488 3536 11551
       
2.Other Income 1048 15938 17686
       
3.Total Expenditure ( a to h )                        3208 11142 18822
       
  a) (Increase) / decrease in stock in trade (112) (359) 341
  b) Consumption of raw materials 1163 1220 3948
  c) Consumption of Stores, spares, Packing material 1103 1100 3653
  d) Staff cost 205 453 979
  e) Professional / Consultancy charges 422 521 318
  f) Provision for diminution in value of investment   4516 5116
  g) Provision for contingency   3500 2900
  h) Other expenditure 427 191 1567
       
4. Interest  117 238 496
       
5.Depreciation  38 34 140
       
6. Profit (+)/Loss (-) before taxation (1+2-3-4-5) 1173 8060 9779
       
7.Provision for taxation ( Including deferred tax and fringe benefit 556 4009 3778
   tax)      
       
8.Profit(+)/Loss(-) after taxation (6-7-8) 617 4051 6001
       
9.Paid up equity share capital (Face value of Rs. 10 per share) 4801 4801 4801
       
10.Reserves excluding revaluation reserve      2187
       
11.Basic and diluted EPS (in Rs.) 1.28 8.44 12.50
       
12.Aggregate of Non -Promotor shareholding       
                    - Number of shares 12001520 12001520 12001520
                    - Percentage of shareholding 25.00 25.00 25.00
       
Notes:

1. The above results have been subjected to limited review by the statutory auditors and were taken on record in the meeting of the Board of Directors held on 24th July 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; the Company has provided / paid the tax liabilities as per tax computations, returns filed and admissions / estimations in this respect. The Company is also pursuing a settlement in accordance with the provisions of the Income Tax Act, 1961 of the matters in the different financial years. The matters pending as such are sub-judice and adjustments, if any, in this respect will be made as and when amounts thereof are determined.

b) Non-provision for interest on the balance of inter corporate deposit final settlement of which is pending; the Company maintains that pending outcome of negotiation/ settlement, interest provided for in earlier years is adequate. Adjustments, if any in this respect will be made as and when amounts thereof are determined.

c) Non provision of diminution in the value of investments; provision for such diminution amounting to Rs. 5116 lacs was made during the year ended 31st March, 2006.

d) Non-provision of liabilities for pension; Rs. 226 lacs was provided for during the year ended 31st March 2006 on the basis of actuarial valuation.

3. a) Other income for the year ended 31st March 2006 and corresponding previous quarter ended 30th June 2005 includes Rs.15804.49 lacs being the aggregate consideration received from assignment / licensing arrangements for beer brands of the Company;

b) During the year ended 31st March 2006, provision for contingency was made to meet liabilities which may arise in future in respect of various income tax demands, legal and other disputes pending against the Company.

4. There was no complaint from the shareholders pending at the beginning of the current quarter. One hundred eight 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 the current period’s classification.


By Order of the Board of Directors
For Shaw Wallace & Company Limited

Place: Mumbai                                                                  S. D. Lalla
Date: 24th July, 2006                                                   Managing Director
 

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