BOROSIL GLASS WORKS LIMITED
Regd. Office :  Khanna Construction House 44, Dr. R. G. Thadani Marg, Worli, Mumbai - 400 018.
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2007
(Rs. in lacs)
      Nine Months Ended Quarter Ended Accounting Year Ended
  Particulars
  31.12.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006
  Unaudited Unaudited Unaudited Audited Audited
 1.  Gross sales   5142 2229 2178 7371 7013
      Less: Excise duty recovered                      369 176              164             545               518
      Net Sales / Income from Operations 4773 2053 2014 6826 6495
 2.  Other Income                      252               39                66             291               270
 3.  Total Expenditure 3947 1825 1721 5772 5467
      (a)  (Increase)/Decrease in Stock in Trade                    (720) 253              182           (467)                 34
      (b)  Consumption of Raw materials                       211 84                69             295               309
      (c)  Purchase of Finished Goods                      875             276              226 1151               917
      (d)  Power & Fuel                      757             254              260 1011               951
      (e)  Staff Cost 1197             376              431 1573 1485
      (f)   Other Expenditure 1627             582              553 2209 1771
 4.  Interest 205               87                66             292               298
 5.  Depreciation                      288             113              101             401               398
 6.  Profit Before Extra-ordinary Items and taxes(1+2-3-4-5)                      585               67              192             652               602
 7.  Extraordinary Items          
      a.  Loss due to Flood                        -                 -                   -                 -                 351
      b.  Insurance claim received                        -                 -                   -                 -               (324)
      c.  Reversal of Provision for Dimuntion in           
           value of Long term Investment                        -             (667)                 -             (667)                  -  
 8.  Profit Before taxes(6-7)                      585             734              192          1,319               575
 9.  Provision for Taxation          
      a.  Income tax                      169               39                15             208                 39
      b.  MAT credit Entitlement                        -                 -                 (35)               -                 (35)
      c.  Deferred tax                        (1)             (14)                46             (15)               149
      d.  Fringe benefit tax                        15                 8                  7               23                 21
10. Net Profit for the Year    (8-9)                      402             701              159          1,103               401
11.  Paid-up Equity Share Capital          
      (Face value Rs. 10/- each)                      343             361              343             361               343
12. Reserves excluding Revaluation Reserves                3,389            1,980
13.  Earning Per Share(Rs.) (Not Annualised)*           
      Before extra ordinary items per Share(Basic)  11.73*   0.96*   4.64*           12.69            12.49
      After extra ordinary items per Share(Basic)  11.73*   20.39*   4.64*           32.12            11.69
      Before extra ordinary items per Share(Diluted)  11.73*   0.59*   4.64*           12.32            12.49
      After extra ordinary items per Share(Diluted)  11.73*   19.45*   4.64*           31.18            11.69
           
14. Aggregate of Public Shareholding          
      - No. of shares            1,784,168   1,784,168    1,866,898   1,784,168     1,866,898
      - Percentage of Shareholding                   52.03          49.44           54.44          49.44            54.44
               
REPORTING OF SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
        (Rs. in lacs)
  Nine Months Ended Quarter Ended Accounting Year Ended
Sr. Particulars
  31.12.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006
No.     Unaudited Unaudited Unaudited Audited Audited
           
1 Segment Revenue :          
   a.   Scientificware 3059 1568 1610 4627 4506
   b.   Consumerware 1583 438 387 2021 1883
   c.   Others                      131               47                17             178               106
          Total 4773 2053 2014 6826 6495
           Less : Inter Segment Revenue                        -                 -                   -                 -                    -  
           Net Sales / Income from Operations 4773 2053 2014 6826 6495
           
2 Segment Results  :          
   a.   Scientificware                      924             350              430 1274 1251
   b.   Consumerware                      356               39                45             395               320
   c.   Others                        36               14                  4               50                 31
          Total 1316 403 479 1719 1602
           Less :  (i) Interest                      205               87                66             292               298
                       (ii) Other unallocable expenditure      (ii) Other unallocable expenditure          
                            net of unallocable income            net of unallocable income                      526           (418)              221             108               729
           Total Profit Before Tax                        585             734              192 1319               575

Notes:

  1. The Board of Directors has recommended a dividend @30% i.e. Rs. 3 per share of Rs.10 each    subject to approval of shareholders.
  2. The above results were reviewed by the Audit Committee and approved by the Board of       Directors at its Meeting held on 28.06.2007.
  3. Out of 5,34,850 Warrants carrying a right to subscribe to Equity Shares issued on preferential basis to the promoter companies on 17.01.2007, right has been exercised in respect of 1,79,390 Warrants and equal number of equity shares of Rs.10/- each have been issued, resulting in increase in the paid-up Share Capital from Rs.342.91 Lacs to Rs.360.85 Lacs. Thereby, the Company raised a total sum of Rs.594.30 Lacs, which has been fully utilised by 31st March, 2007 towards capital expenditure, i.e., in connection with purchase of land in the state of Uttarakhand.
  4. 1,79,390 Equity Shares issued during the quarter have since been listed with the Bombay Stock Exchange Limited and trading permission has been granted in respect thereof (subject to lock-in).
  5. Extra-Ordinary items include Rs.666.83 Lacs, on account of reversal of provision made for diminution in value of Long term investment (Trade) in earlier year no more required, as provided in Accounting Standard -13 on "Accounting for Investment” issued by the Institute of Chartered Accountants of India.
  6. The Company adopted Accounting Standard-15(Revised-2005) on "Employee Benefit" issued     
    by the Institute of Chartered Accountants of India, effective from April 01, 2006. Pursuant to    adoption,
    a.      The Company has determined an additional liability of Rs.67.41 Lacs net of deferred tax of Rs.22.69 Lacs towards "Employee Benefits" as on 31st March 2006, for which an additional provision has been created on April 01, 2006 by debiting to the General Reserve.
    b.      A further liability of Rs.70.93 lacs has arisen during the year for which provision has been made in the Profit & Loss Account.
  7. 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.
  8. The Financial Results are in accordance with the Standard Accounting Practices followed by the Company in preparation of its statutory accounts.
  9. The previous period figures have been regrouped/ reclassified wherever necessary to make them comparable.
  10. The Company has received 2 complaints from shareholders during the quarter ended 31st March, 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                                                                    P. K. Kheruka
Date  :  28.06.2007                                          Vice Chairman & Managing Director