Kamat Hotels India Ltd., Consultancy Hotel Management India, Advise Domestic Chain of Hotels, hospitality management consultants, hospitality consulting services

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2010

(Rs. in Lakhs)

Sr. No.

Particulars

Quarter Ended

Half Year Ended

Year Ended

30th Sept.
2010
(Unaudited)

30th Sept.
2009
(Unaudited)

30th Sept.
2010
(Unaudited)

30th Sept.
2009
(Unaudited)

31st March
2010
(Audited)

a) Net Sales/Income from Operations

2625.79

2140.29

5320.42

4109.65

9875.21

b) Other Operating Income

176.9

121.07

336.92

228.57

538.28

Total Income

2802.69

2261.36

5657.34

4338.22

10413.49

Expenditure

a) Consumption of Raw
Materials

244.08

182.65

496.82

369.75

832.79

b) Employees Cost

620.27

635.18

1276.15

1225.06

2207.73

c) Heat, Light & Power

234.71

323.35

496.55

654.74

1264.79

d) Depreciation

314.13

319.25

627.56

630.74

1,109.35

e) Other Expenditure

767.69

787.22

1497.43

1416.14

3057.22

Total Expenditure

2180.88

2247.65

4394.51

4296.43

8537.34

Profit from Operations before Other Income, Interest and Exceptional Items [1-2]

621.81

13.71

1262.83

41.79

1876.15

Other Income

16.77

88.38

83.40

145.48

897.61

Profit before Interest and Exceptional Items [3+4]

638.58

102.09

1346.23

187.27

2773.76

Interest

619.91

909.87

1306.54

1743.22

2762.21

'Profit/(Loss) after Interest but before Exceptional Items [5-6]

18.67

(807.78)

39.69

(1555.95)

11.55

Add/(Less): Exceptional
items (See Note 4 below)

52.93

Profit/(Loss) from Ordinary Activities before Tax (7+8)

18.67

(807.78)

39.69

(1555.95)

64.48

Less:Tax Expense:

a) Current Tax

(5.64)

(10.95)

(103.00)

b) Deferred Tax

(1.26)

159.06

(2.68)

346.05

81.80

c) Fringe Benefit Tax

(4.25)

(10.25)

(28.80)

d) Wealth Tax

(2.00)

(4.00)

(7.60)

e) MAT Credit Entitlement

5.64

10.95

103.00

Net Profit/(Loss) from Ordinary Activities after Tax [9-10]

15.41

(650.72)

33.01

(1213.9)

138.68

Less:

Extraordinary items (Net of tax expense)

Net Profit/(Loss) for the period [11-12]

15.41

(650.72)

33.01

(1213.9)

138.68

Paid-up equity Share Capital (Face value of Equity Share Rs.10/- each)

1562.97

1378.59

1562.97

1378.59

Reserves Excluding Revaluation Reserves as per balance sheet of previous accounting year

15134.70

Earnings Per Share (EPS)

Basic & Diluted EPS (Rs):

a) Before Extraordinary
items

Basic

0.11

(4.93)

0.24

(9.20)

1.05

Diluted

0.11

(4.93)

0.24

(9.20)

0.83

b) After extraordinary items

Basic

0.11

(4.93)

0.24

(9.20)

1.05

Diluted

0.11

(4.93)

0.24

(9.20)

0.83

Public shareholdings:
-Number of Shares
-Percentage of Shareholding

52,66,007 35.01%

35,60,197 26.98%

52,66,007 35.01%

35,60,197 26.98%

34,22,197 25.93%

Promoters and promoters group shareholding a) Pledged/Encumbered -Number of shares, -Percentage of shares (as a % of the total share holding of promoter and promoter group) -Percentage of shares (as a % of the total share capital of the Company)

Nil

Nil

Nil

25,99,250

26.97%

19.69%

Nil

Nil

Nil

25,99,250

26.97%

19.69%

16,56,250

16.94%

12.55%

b) Non Encumbered -Number of shares, -Percentage of shares (as a % of the total share holding of promoter and promoter group) -Percentage of shares (as a % of the total share capital of the Company)

97,75,198

100.00%

64.99%

70,37,948

73.03%

53.33%

97,75,198

100.00%

64.99%

70,37,948

73.03%

53.33%

81,18,948

83.06%

61.52%

STATEMENT OF ASSETS AND LIABILITIES AS REQUIRED UNDER CLAUSE 41 (I) (ea) OF LISTING AGREEMENT.

Sr. No.

Particulars

Standalone
Six months ended

30th Sept.
2010
(Unaudited)

30th Sept.
2009
(Unaudited)

(A)

SOURCES OF FUNDS:

Share holders Funds:
a) Share Capital
b) Reserves and Surplus

1562.97
17472.46

1378.59
13782.12

Loan Funds

40297.75

38394.30

Long Term Trade Deposit

350.00

Foreign Currency Monetary Item Translation Difference Account

1.49

Deferred Tax Liability (Net)

2641.89

2374.96

TOTAL

62326.56

55929.97

(B)

APPLICATION OF FUNDS

Fixed Assets (Net)

36690.76

36426.64

Investments

7475.75

6838.61

Foreign Currency Monetary Item Translation Difference Account

13.65

Long Term Deposits

8048.50

Current Assets, Loans and Advances:
a) Inventories
b) SundryDebtors
c) Cash and Bank balances
d) Loans and Advances

374.62
1083.78
950.20
9939.51

356.31
954.58
1583.28
6144.88

TOTAL

12348.11

9039.05

Less: Current Liabilities and Provisions:
a) Current Liabilities
b) Provisions

Net Current Assets

2064.91
171.65
2236.56
10111.55

2972.73
1463.75
4436.48
4602.57

TOTAL

62326.56

55929.97

Notes:

The above standalone results have been reviewed by the Audit Committee and were approved by the Board of Directors at its meeting held on 30th October, 2010 and have been subjected to limited review by the statutory auditors.
The Company is operating only in Hospitality Services Segment.
During the quarter ended 30th September, 2010, the Foreign Currency Bondholders partially exercised their right of conversion of 5,629 bonds (FCCB) and accordingly the Board in its meeting held on 25th August, 2010, allotted 1,843,810 equity shares of Rs. 10/- each at a premium of Rs. 125/- per share. The said shares have been listed on BSE and NSE on 15th September, 2010.
The Company has opted to account the foreign exchange fluctuation gain/loss as per AS -11 notification dated 31st March, 2009. The quarter resulted into a gain of Rs. 341.80 lakhs (including gain of Rs. 133.97 lakhs on conversion of FCCB's into equity)(as against loss of Rs. 32.01 lakhs in the corresponding previous period) which has been added to/reduced from the cost of relevant fixed assets in so far as it relates to capital asset and to Foreign Exchange Fluctuation Gain/loss Difference Account in other cases.
There were no unresolved investors' complaints at the beginning of the quarter. Further, during the quarter ended 30th September, 2010, the Company received 6 investor complaints. All the complaints have been suitably disposed off and no unresolved complaint was pending as on 30th September, 2010.
Previous quarter and financial year figures have been regrouped / rearranged, wherever necessary.

	For and on behalf of the Board Kamat Hotels (India) Limited
Place: Pune Date: 30th October, 2010	Vithal V. Kamat (Executive Chairman & Managing Director)


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