| Kandagiri Spinning Mills Limited | |||
| Regd.Office: Mill Premises, Udayapatti PO, Salem 636 140. | |||
| Unaudited Financial Results for the period ended June 30, 2008 | Rs. lakhs | ||
| Three | Corresponding | Previous | |
| months | three months | year ended | |
| Particulars | ended | ended | Audited |
| 30.06.08 | 30.06.07 | 31.03.08 | |
| 1. Net sales/Income from operations | 2275 | 2109 | 8220 |
| 2. Other income | 1 | 0 | 7 |
| 3. Total income (1+2) | 2276 | 2109 | 8227 |
| 4. Expenditure | |||
| (i) Increase(-)/decrease in value of stocks of | |||
| finished goods and work in progress | -121 | -59 | 222 |
| (ii) Consumption of raw materials | 1330 | 1147 | 4217 |
| (iii) Purchase of traded goods | -- | -- | -- |
| (iv) Employees cost | 195 | 196 | 791 |
| (v) Power and fuel-net | 162 | 185 | 457 |
| (vi) Other expenditure | 168 | 236 | 804 |
| (vii) Depreciation | 191 | 139 | 583 |
| (viii) Total expenditure | 1925 | 1844 | 7074 |
| 5. Interest-net | 233 | 150 | 683 |
| 6. Exceptional item - Income | -- | 231 | 231 |
| 7. Profit from Ordinary activities before tax (3-4-5+6) | 118 | 346 | 701 |
| 8. Tax expense | |||
| (i) Current tax | -- | -- | -- |
| (ii) Fringe benefit tax | 2 | 2 | 5 |
| (iii) Deferred tax | 60 | 107 | 238 |
| 9. Net profit from Ordinary activities after Tax (7-8) | 56 | 237 | 458 |
| 10. Extraordinary items | -- | -- | -- |
| 11. Net profit for the period (9-10) | 56 | 237 | 458 |
| 12. Paid-up Equity share capital (Face value Rs.10 per share) | 386 | 386 | 386 |
| 13. Reserves excluding revaluation reserves | 2006 | ||
| 14. Earnings per share - Basic and diluted (not annualised) in Rs. | 1.46 | 6.17 | 11.89 |
| 15. Public shareholding | |||
| - Number of shares | 1159078 | 1159078 | 1159078 |
| - Percentage of shareholding | 30.11 | 30.11 | 30.11 |
| Notes | |||
| 1. The company's expansion project, involving 13,200 spindles at a cost of Rs.43 crores, has been successfully completed | |||
| during July 2008. | |||
| 2. Power cost for the year ended March 31, 2008 and for the period ended June 30, 2008 is net of income by way of | |||
| carbon credit earnings of Rs.293 lakhs and Rs.15 lakhs respectively for the company's 6.15 MW wind energy | |||
| converters, pertaining to the period March 2003 to June 2008. | |||
| 3. Exceptional item for the period ended June 30, 2007 and for the year ended March 31, 2008 represents the compensation | |||
| received, as one time settlement, for the shortfall in power generation from a supplier of wind energy converters. | |||
| 4. In view of the MAT credit entitlement under section 115JAA of the Income tax Act, 1961, no provision for current | |||
| income tax has been considered. | |||
| 5. The company is principally engaged in a single business segment viz., cotton yarn and operates in one geographical | |||
| segment as per Accounting Standard 17 on 'Segment Reporting' issued by the Institute of Chartered Accountants of India. | |||
| 6. During the quarter, no investor complaints were received, and were pending for redressal at the beginning and end | |||
| of the quarter. | |||
| 7. The above unaudited financial results reviewed by the Audit Committee, were approved by the Board of Directors at | |||
| their meeting held on July 31, 2008. The Statutory Auditors have carried out a limited review of the above results. | |||
| for Kandagiri Spinning Mills Limited | |||
| Salem, | |||
| July 31, 2008 | Chairman cum Managing Director | ||