AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED ON 31ST MARCH, 2007
(Rs. in Lakhs)
| Sr. |
Particulars |
Nine Months Ended |
Quarter Ended |
Year Ended |
No. |
|
31st Dec.
2006
(Unaudited) |
31st March.
2007
(Unaudited) |
31st March.
2006
(Unaudited) |
31st March
2007
(Audited) |
31st March
2006
(Audited) |
| 1 |
Net Sales/Income from Operations |
7654.35
|
3,538.63
|
2,364.80
|
11,192.98
|
8,146.25 |
| 2 |
Other Income |
52.01 |
37.80
|
165.03
|
89.81
|
87.83 |
| |
Total [1+2] |
7,706.36 |
2,529.83
|
11,282.79
|
11,282.79
|
8,234.08 |
| 3 |
Total Expenditure |
|
|
|
|
|
| |
a) Consumption of Raw Materials |
504.66 |
191.13
|
169.17
|
695.79
|
585.02 |
| |
b) Staff Cost |
1,223.40 |
512.46
|
322.46
|
1,735.86
|
1,247.00 |
| |
c) Heat, Light & Power |
401.45 |
128.29
|
123.11
|
529.74
|
452.11 |
| |
d) Other Expenditure |
1,844.27 |
1,164.39
|
752.34
|
3,008.66
|
2,345.32 |
| |
Total Expenditure |
3,973.78 |
1,996.27
|
1,367.08
|
5,970.05
|
4,629.45
|
| 4 |
Profit Before Interest, Depreciation
and Tax [1+2-3] |
3,732.58 |
1,580.16
|
1,162.75
|
5,970.05
|
3,604.63 |
| 5 |
Interest |
1,077.65 |
432.53
|
339.51
|
1,510.18
|
1,227.88 |
| 6 |
Depreciation |
554.23 |
240.19
|
181.08
|
794.42
|
655.82 |
| 7 |
Profit Before Taxation [4-5-6] |
2,100.70 |
907.44
|
642.16
|
3,008.14
|
1,720.93 |
| 8 |
Exceptional Items |
- |
- |
- |
- |
- |
| 9 |
Provision for Taxation |
|
|
|
|
|
| |
a) Current Tax (MAT) |
236.00 |
103.50
|
57.60
|
339.50
|
148.01 |
| |
b) Deferred Tax (See Note 4
below) |
749.52 |
323.02
|
-
|
1,072.54
|
- |
| |
c) Fringe Benefit Tax |
11.20 |
5.80
|
3.90
|
17.00
|
15.00 |
| |
d) MAT Credit Entitlement
|
-
|
(479.10)
|
-
|
(479.10)
|
- |
| 10 |
Net Profit/(Loss) [7-8] |
1,103.98 |
954.22
|
580.66
|
2,058.20
|
1,557.92 |
| 11 |
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 |
| 12 |
Reserves Excluding Revaluation
Reserves |
- |
- |
- |
12,547.95
|
10,875.76 |
| 13 |
Basic & Diluted EPS (Rs.) |
- |
- |
- |
- |
- |
| |
Basic |
8.37 |
7.23
|
4.40
|
15.60
|
12.38 |
| |
Diluted |
8.37 |
7.13
|
3.98
|
15.38
|
12.38 |
| 14 |
Aggregate of Non-Promoter Shareholding: -Number
of Shares-Percentage of Shareholding |
3560197 26.98 |
3560197 26.98 |
3553846 26.93 |
3560197 26.98 |
3553846 26.93 |
|
|
|
|
|
|
| Notes: |
|
|
|
- The above results have been reviewed by the Audit Committee
and taken on record by the Board of Directors at its meeting
held on 30th May , 2007.
- The Directors have recommended payment of dividend @ 25%
for the year ended on 31st March,2007 subject to approval
of the shareholders.
- Financial figures for the year ended 31st March,2007 are
not strictly comparable with figures of previous year due
to merger of erstwhile The Himco (India) Ltd., effective
from 01st July,2005.
- The Company is operating only in Hospitality Services
Segment.
- The first phase of renovation/upgradation of 120 rooms
(out of 245) in The Orchid Hotel and 24 rooms(out of 33)
in Kamats Hotel Siddharth, Nashik has been completed during
the year and second phase is in progress.
- The Company has issued Foreign Currency Covertible Bonds
(FCCBs) during the quarter ended 31st March,2007 aggregating
to US$18 million with an option to the investors to convert
the FCCBs into Ordinary Shares. During the quarter no conversion
took place. The Bonds are listed on The Singapore Exchange
Securities Trading Ltd.,Singapore. Out of the proceeds of
the FCCBs an aggregate amount of Rs. 4.61 Crores has been
utilised for the purpose for which the Bonds were issued
and the balance amount is lying in bank deposit accounts
pending deployment of funds.
- In accordance with the guidance note issued by the ICAI,
the Company has accounted for MAT credit entitlement of
Rs. 4.79 crores in the quarter which consists of MAT paid
of Rs.1.43 crores and Rs.3.36 crores for the financial year
2005-06 and 2006-07 respectively.
- There were no unresolved investors complaints at the begining
of the quarter. Further, during the quarter ended March,
2007, the company received 9 investor complaints. All the
complaints have been suitably disposed off and no unresolved
complaint is pending as on 31st March, 2007.
- The Company will implement Accounting Standard - Employees
benefits (AS - 15 Revised) with effect from 1st April, 2007.
The necessary adjustments for past period will be made in
opening reserves.
- Previous quarter and year figures have been regrouped/rearranged,
wherever necessary.
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Fort Jadhavgadh 
The Orchid - An 
VITS is a new 
Lotus Resorts is 
