AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2008
(Rs. in Lakhs)
| Sr. No. |
Particulars |
Stand alone |
Consolidated (Refer Note 7
below) |
| |
|
Quarter Ended |
Year Ended |
Year Ended |
|
|
31st March
2008
(Audited) |
31st March
2007
(Audited) |
31st March
2008
(Audited) |
31st March
2007
(Audited) |
31st March
2008
(Audited) |
| 1 |
Net Sales/Income
from Operations |
4,288.70
|
3,538.63
|
14,761.18
|
11,192.98
|
15,521.33 |
| 2 |
Other Income |
140.48
|
37.80
|
505.93
|
89.81
|
536.98 |
| |
Total [1+2] |
4,429.18
|
3,576.43
|
15,267.11
|
11,282.79
|
16,058.31 |
| 3 |
Total Expenditure |
|
|
|
|
|
| |
a) Consumption of
Raw Materials |
218.81
|
191.13
|
800.13
|
695.79
|
867.77 |
| |
b) Employees Cost
|
732.39
|
512.46
|
2,393.41
|
1,735.86
|
2,759.88 |
| |
c) Heat, Light &
Power
|
210.79
|
128.29
|
865.75
|
529.74
|
880.15 |
| |
d) Depreciation
|
360.35
|
240.19
|
990.52
|
794.42
|
999.46 |
| |
e) Other Expenditure
|
1,341.34
|
1,164.39
|
4,019.36
|
3,008.66
|
4,159.43 |
| |
Total Expenditure |
2,863.68
|
2,236.46
|
9,069.17
|
6,764.47
|
9,666.69 |
| 4 |
Profit Before Interest,
and Tax [1+2-3] |
1,565.50
|
1,339.97
|
6,197.94
|
4,518.32
|
6,391.62 |
| 5 |
Interest |
465.67
|
432.53
|
1,656.74
|
1,510.18
|
1,663.63 |
| 6 |
Profit Before Taxation
[4-5] |
1,099.83
|
907.44
|
4,541.20
|
3,008.14
|
4,727.99 |
| 7 |
Tax Expense:
|
|
|
|
|
|
| |
a) Current Tax
|
337.17
|
103.50
|
1,056.85
|
339.50
|
1,141.85 |
| |
b) Deferred Tax
|
206.58
|
323.02
|
602.41
|
1,072.54
|
601.29 |
| |
c) Fringe Benefit
Tax
|
11.50
|
5.80
|
28.00
|
17.00
|
29.65
|
| |
d)
MAT Credit Entitlement
|
- |
(479.10)
|
- |
(479.10)
|
- |
| 8 |
Net
Profit from Ordinary activities after tax [6-7] |
544.58
|
954.22
|
2,853.94
|
2,058.20
|
2,955.20 |
| 9 |
(a)
Extraordinary items for the year (net of tax expense of Rs.
58.33 lakhs) [Note 6 (a) below]
|
18.60
|
- |
113.28
|
- |
113.28 |
| |
(b)
Prior period adjustments [Note 6(b) below]
|
- |
- |
- |
- |
- |
| |
(i)
Prior period expenses 760.65
(ii) Less: Prior period credit 753.04
|
7.61
|
-
|
7.61
|
-
|
7.61
|
| 10 |
Net
Profit for the period [8-9]
|
518.37
|
954.22
|
2,733.05
|
2,058.20
|
2,834.31 |
| 11 |
Minority
Interest
|
-
|
-
|
-
|
-
|
42.92 |
| 12 |
Group
Profit (10-11)
|
-
|
-
|
-
|
-
|
2,791.39 |
| 13 |
Paid-up
Share Capital (Face value of Equity Share Rs.10/- each)
|
1,378.59
|
1,378.59
|
1,378.59
|
1,378.59
|
1,378.59
|
| 14 |
Reserves
Excluding Revaluation Reserves
|
-
|
-
|
14,817.79
|
12,547.95
|
14,718.05 |
| 15 |
Earnings
Per Share [EPS] (Rs):
|
|
|
|
|
|
| |
a)
Before extraordinary items
|
|
|
|
|
|
| |
Basic
|
4.13
|
7.23
|
21.63
|
15.60
|
22.07 |
| |
Diluted |
3.25
|
7.13
|
17.05
|
15.38
|
17.40 |
| |
b)
After extraordinary items
|
|
|
|
|
|
| |
Basic
|
3.93
|
7.23
|
20.71
|
15.60
|
21.15 |
| |
Diluted
|
3.10
|
7.13
|
16.33
|
15.38
|
16.68 |
| 16 |
Public
shareholdings: -Number of Shares -Percentage of Shareholding
|
3560197
26.98
|
3560197
26.98
|
3560197
26.98
|
3560197
26.98
|
3560197
26.98 |
|
|
|
|
|
|
| Notes: |
|
|
|
|
- The above results have been reviewed by the Audit Committee
and were approved by the Board of Directors at its meeting
held on 31st May, 2008.
- The Directors have recommended payment of Dividend @ 30%
for the year ended on 31st March, 2008 subject to approval
of the shareholders.
- The Company is operating only in one segment, i.e Hospitality
Services Segment.
- The Company issued Foreign Currency Convertible Bonds
(FCCB) in the month of March, 2007 aggregating to US$18
million with an option to the investors to convert the FCCBs
into Ordinary Shares. The Bonds are listed on the Singapore
Stock Exchange. The funds have been fully utilised for the
hotel projects.
- Other income for the year includes Rs. 213.46 lakhs being
gain on foreign exchange fluctuation and Rs. 138.82 lakhs
being value of Duty credit utilised.
- a) Extra-ordinary items for the year represent Luxury
tax assessment dues of Rs.171.61 lakhs for the period from
May 2004 to March 2005 paid on disposal of Luxury Tax appeal
vide appallate order dated 12th December 2007.
b) Prior Periods expenses include direct expenses of Rs.
753.04 lakhs incurred in earlier years for marketing timeshare
membership, which have been charged to revenue during the
period net of equivalent amount transferred from advance
timeshare membership fees received in earlier years as per
modified method of accounting time share income as advised.
- The Company has acquired 60% stake in the equity of Concept
Hospitality Ltd, a hospitality management consultancy company,
with the approval of the Central Government. Consequently,
the said Company has become subsidiary of the Company with
effect from 3rd December, 2007. The consolidated results
given above include financial information of subsidiary
on proportionate consolidation basis for the year. Kamat
Concept Hospitality Pvt. Ltd ceased to be a subsidiary of
the Company with effect from 29th March, 2008.
- There were no unresolved investors complaints at the begining
of the quarter. Further, during the quarter ended March,
2008, the company received 8 investor complaints. All the
complaints have been suitably disposed off and no unresolved
complaint is pending as on 31st March, 2008.
- Previous quarter and financial year figures have been
regrouped/rearranged, wherever necessary.
| |
For and on behalf of the Board
Kamat Hotels (India) Limited |
Place: Mumbai
Date: 31st May, 2008
|
Vithal V. Kamat
(Executive Chairman & Managing Director) |
|
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Fort Jadhavgadh 
The Orchid - An 
VITS is a new 
Lotus Resorts is 
