BOROSIL GLASS WORKS LIMITED

Regd. Office : Khanna Construction House 44, Dr.RG Thadani Marg, Worli, Mumbai - 400 018

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER & NINE MONTHS ENDED 31ST DECEMBER, 2007
Particulars

Quarter Ended
Half Year Ended
Accounting Year Ended
31.12.2007
31.12.2006
31.12.2007
31.12.2006
31.03.2007
Unaudited
Unaudited
Unaudited
Unaudited
Audited
1. Gross sales
2,045
1,932
5,268
5,142
7,371
  Less: Excise duty recovered
162
136
415
369
545
  Net Sales / Income from Operations
1,883
1,796
4,853
4,773
6,826
2. Other Income
31
33
188
252
291
3. Total Income (1+2)
1,914
1,829
5,041
5,025
7,117
4. Total Expenditure
1,829
1,610
4,695
4,235
6,173
  (a) (Increase)/Decrease in Stock in Trade
(35)
(85)
(658)
(720)
(467)
  (b) Consumption of Raw materials
94
73
249
211
295
  (c) Purchase of Finished Goods
185
257
719
875
1,151
  (d) Power & Fuel
360
265
1,010
757
1,011
  (e) Staff Cost
479
427
1,284
1,197
1,573
  (f) Depreciation
101
96
314
288
401
  (g) Other Expenditure
645
577
1,777
1,627
2,209
5. Interest
76
73
226
205
292
6. Profit from Ordinary Activities before tax (3) - (4+5)
9
146
120
585
652
7. Provision for Taxation
  a. Income tax
83
63
143
169
208
  b. Deferred tax
(80)
(14)
(132)
(1)
(15)
  c. Fringe benefit tax
5
5
15
15
23
8. Net Profit from Ordinary Activities after tax (6-7)
1
92
94
402
436
9. Extraordinary Items (Net of tax expense Rs. Nil)
  Reversal of Provision for Diminution in
-
-
-
-
  value of Long term Investment
-  
-  
-  
-  
(667)
10. Net Profit for the Year (8-9)
1
92
94
402
1,103
11. Paid-up Equity Share Capital
  (Face value Rs. 10/- each)
361
343
361
343
361
12. Reserves excluding Revaluation Reserves as per
  balance sheet of previous accounting year
3,389
13. Earning Per Share(Rs.) (Not Annualised)*
  Before extra ordinary items per Share(Basic)
0.03* 
2.68* 
2.60* 
11.73* 
12.69
  After extra ordinary items per Share(Basic)
0.03* 
2.68* 
2.60* 
11.73* 
32.12
  Before extra ordinary items per Share(Diluted)
0.03* 
2.68* 
2.48* 
11.73* 
12.32
  After extra ordinary items per Share(Diluted)
0.03* 
2.68* 
2.48* 
11.73* 
31.18
14. Aggregate of Public Shareholding
  - No. of shares
1,784,168
1,784,168
1,784,168
1,784,168
1,784,168
  - Percentage of Shareholding
49.44
52.03
49.44
52.03
49.44

 

REPORTING OF SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
Sr.No.
Particulars
Quarter Ended
Half Year Ended
Accounting Year Ended
    31.12.2007 31.12.2006 31.12.2007 31.12.2006 31.03.2007
    Unaudited Unaudited Unaudited Unaudited Audited
1
 Segment Revenue          
a. Scientificware
1,123
1,102
2,905
3,059
4,627
  b. Consumerware
726
646
1,858
1,583
2,021
  c. Others
34
48
90
131
178
 
Total
1,883
1,796
4,853
4,773
6,826
 
Less : Inter Segment Revenue
-  
-  
-  
-  
-  
  Net Sales / Income from Operations
1,883
1,796
4,853
4,773
6,826
   
2
 Segment Results :
  a. Scientificware
211
307
676
924
1,274
  b. Consumerware
116
104
353
356
395
  c. Others
4
15
17
36
50
 
Total
331
426
1,046
1,316
1,719
  Less : (i) Interest
76
73
226
205
292
  (ii) Other un-allocable expenditure net of
277
240
888
778
1,066
  (iii) Other un-allocable income
(31)
(33)
(188)
(252)
(291)
Total Profit Before Tax
9
146
120
585
652


Notes:
  1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on 30.01.2008.

  2. The above financial results have been subjected to a limited review by the Statutory Auditors of the Company in terms of Clause 41 of the Listing Agreement.

  3. Increased cost of power & fuel continues to impact profitability of the Company.   

  4. The Company had entered into a Development Right Agreement in June, 2004 for developing a portion of surplus land admeasuring 14000 square meter approx, at Marol, Mumbai. In the absence of necessary clearance under Urban Land (Ceiling & Regulation) Act, 1976, the Developer cancelled the said agreement in November, 2007 and has asked for refund of their money. They have also made claim for liquidated damages, which the company has disputed and not provided for.
  5. Since the assets are used in the Company ‘s business interchangeably and the suppliers of raw materials and consumables are common, disclosure of segment wise assets, liabilities, capital expenditure, depreciation and non- cash expenditure is not feasible.

  6. The Financial Results are in accordance with the Standard Accounting Practices followed by the Company in preparation of its statutory accounts.

  7. The previous period figures have been regrouped/ reclassified wherever necessary to make them comparable.

  8. The Company has received 4 complaints from shareholders during the quarter ended 31st December, 2007 which have been disposed off.   There were no complaints lying unresolved at the beginning or at the end of the quarter.

 
For Borosil Glass Works Limited

Place: Mumbai
Date : 30.01.2008   
P.K.Kheruka
 Chairman & Managing Director