ZODIAC CLOTHING COMPANY LIMITED
Regd. Office: 10/76, Off Haines Road, Worli, Mumbai - 400 018.


UNAUDITED FINANCIAL RESULTS  FOR THE QUARTER ENDED 30TH SEPTEMBER 2005

                                                                                                   (Rs. in Lakhs)

PARTICULARS

QUARTER 
ENDED ON 
30.09.05 
UNAUDITED 

 QUARTER 
 ENDED ON 
 30.09.04 
 UNAUDITED 

HALF YEAR 
 ENDED ON 
30.09.05 
UNAUDITED 

HALF YEAR 
 ENDED ON 
30.09.04 
UNAUDITED 

YEAR ENDED ON 31.03.05 AUDITED

Net Sales

3935

3873

7264

6990

15027

Other Income

230

287

472

527

1475

Total

4165

4160

7736

7517

16502

EXPENDITURE

 

 

 

 

 

(Increase) / decrease in stock in trade

  (227)

26

(384)

(67)

163

Consumption of raw material

1676

1502

3000

2800

5831

Purchase of Finished Goods

245

212

457

333

755

Staff cost

613

528

1198

971

2337

Manufacturing and other expenditure

1491

1484

2882

2858

6060

Total Expenditure

3798

3752

7153

6895

15146

Profit before Depreciation, Interest &Tax

367

408

583

622

1356

Interest

35

22

52

35

72

Depreciation

59

32

106

62

148

Profit before Tax

273

354

425

525

1136

Provision for Taxation

 

 

 

 

 

Tax current

86

123

135

180

445

Deferred

8

5

11

12

(53)

Fringe Benefit Tax

8

-

15

0

0

Net profit After Tax

171

226

264

333

744

Tax adjustment in respect of previous years

-

-

-

-

-

Net Profit After Tax And Adjustment

171

226

264

333

744

'Paid -up Equity Share Capital (Face value Rs.10/-per share)

418

343

418

343

418

Reserve excluding revaluation reserves

 

 

 

 

8451

Earning per share (Rs.) basic

4.09

6.59

6.32

9.71

20.31

Earning per share (Rs.)  diluted**

2.04

2.97

3.16

4.37

9.48

Aggregate of non-promoter shareholding

 

 

 

 

 

Number of Shares

1636554

886554

1636554

886554

1636554

Percentage of share holding

39.14

25.84

39.14

25.84

39.14

 

NOTES:

1.       The above unaudited financial results as reviewed by the Audit Committee  were taken on record by the Board of Directors in  their meeting held on October 24, 2005. The same is  subject to  limited review by the statutory auditors of the company.

2.       Segments have been identified in line with the accounting standard on segment reporting taking into account the organizational  structure as well as the differential risk and returns of these segments. The company operates mainly in the Garment and accessories segment and has no reportable business segment which exceeds 10% of the total turnover as required by the accounting standard (AS - 17) of ICAI.

3.       The income tax provision including deferred taxation for the quarter is on estimated basis.  The actual provision will be made at the end of the year.

4.       Provision for impairment loss, if any, in accordance with Accounting Standard 28 “Impairment of Assets” will be made at the end of the financial year.

5.       There were no investor complaints pending at the beginning of the current quarter or at the end of the quarter. Three complaints were received during the current quarter and were duly attended.

6.       At the Annual General meeting held on 26.9.2005 members have approved the proposal for issue of bonus  shares in the ratio of 1:1, and for which the Record date has been fixed as on 25.10.2005.  ** EPS is worked out after taking into consideration the proposed issue of bonus shares in the ratio of 1:1as per the  advice of statutory auditors in accordance with accounting standards(AS-20).

7.       The company had raised Rs.30 crores by way of a preferential issue of shares to a few financial investors during December 2004.  The objects of the issue interalia were to part fund the acquistion of a shirt manufacturing facility in the UAE through  stepdown subsidiary, to aggressively grow the company’s own stores over the next 3 years and for the acquisition of  a new corporate office through a wholly owned subsidiary.  In terms of Clause 43 of the Listing agreement the  information required therein is furnished below: -

Particulars of utilization of funds upto the Quarter ended 30.9.05

Actual utilization of funds

Projected utilization of funds

1. Amount invested in wholly owned subsidiary company for acquisition of shirt manufacturing facility in Dubai, U.A.E. through its subsidiary

Rs.18,50,15,775

For Sr.no.1,to 4  Rs.30 crores [Refer note no.7 above.]

2. Amount invested in new own stores

Rs.  1,14,29,936

 

3. Amount invested in Multiplex Collapsible Tubes Ltd., which in turn has acquired a part of the premises at Mumbai for new corporate office of the company

Rs.  8,97,46,971

 

4. Amount used for working capital

Rs.     51,77,300

 

5. Issue expenses

Rs.     86,30,018

 

Total utilization of funds

Rs.30,00,00,000

 

8. Previous year / period figures have been regrouped, wherever necessary.

           BY ORDER OF THE BOARD
For Zodiac Clothing Company Ltd.

A.Y. Noorani                                                                                                  

Vice Chairman & Managing Director

24th Oct 2005
Place : Mumbai