Clariant - Financial Results Sept 2005

Colour-Chem Limited

							(Rs. In Lakhs)

			Three Months Ended	Three Months Ended	Half Year Ended	Half Year Ended	Previous Accounting Year
			30.09.2005	30.09.2004	30.09.2005	30.09.2004	31.03.2005
			(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)

1		Gross Sales/Income from Operations	10,474	11,205	21,383	22,094	41,099
		Less: Excise Duty	897	1,042	1,891	2,043	3,800
		Net Sales/ Income from Operations	9,577	10,163	19,492	20,051	37,299
2		Other Income [See note 2 (i)]	449	632	978	1,674	2,425

			10,026	10,795	20,470	21,725	39,724


3		Total Expenditure
	a)	(Increase)/ Decrease in stock in trade	354	167	(100)	371	(363)
	b)	Consumption of Raw Materials	4,511	4,599	9,751	8,875	17,563
	c)	Purchase of Finished Goods	1,007	1,792	2,440	3,230	5,978
	d)	Power and Fuel	541	545	1,029	1,075	1,998
	e)	Personnel Cost [See note 2 (ii)]	1,205	905	2,123	2,151	3,546
	f)	Other Expenditure	1,562	1,523	3,020	3,099	5,974
4		Interest	91	91	172	136	302
5		Depreciation	301	290	606	573	1,147

			9,572	9,912	19,041	19,510	36,145

6		Profit before Tax and Prior Period items	454	883	1,429	2,215	3,579
7		Provision for Taxation
	a)	Current (including Fringe Benefit Tax)	135	155	445	430	760
	b)	Deferred	49	51	94	267	564
	c)	Short Provision for prior years taxation (net)	-	-	-	-	46
8		Net Profit before prior period items and after tax	270	677	890	1,518	2,209
9		Prior Period Items	-	650	-	650	650
10		Net Profit after prior period items and tax (8-9 )	270	27	890	868	1,559
11		Paid up Equity Capital (Face Value of Rs.10/- each)	1,165	1,165	1,165	1,165	1,165
12		Reserves excluding revaluation reserve					16,057
13		Basic & Diluted EPS ( Rs.)	2.32	0.23	7.64	7.45	13.38
		(Not Annualised )
14		Aggregate of Non-Promoters' Shareholding
		Number of shares	3,482,920	5,812,920	3,482,920	5,812,920	5,812,920
		Percentage of shareholding	29.90	49.90	29.90	49.90	49.90



Notes:
	(1)	The above statement of quarterly results was reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 20th October, 2005.

	(2)						(Rs. in lakhs)
				Three Months Ended	Three Months Ended	Six Months Ended	Six Months Ended
				30.09.2005	30.09.2004	30.09.2005	30.9.2004
	(i)	Other Income includes
	(a)	Profit on sale of assets		-	-	-	443
	(b)	Remission on early repayment of interest-free deferred sales tax loan			91	-	170
				-	91		613
	(ii)	Personnel Cost includes

	(a)	Expenditure on implementation of Voluntary Retirement Scheme by the Company			6	-	373
	(b)	Provision of Rs.330 lakhs on account of the higher actuarial liability of gratuity as on 31st July, 2005 determined by the Company's actuary appointed during the period as against the actuarial liability of gratuity determined by the Company's previous actuary as on 31st March, 2005.		330	-	330	-
				330	6	330	373

		Net (i-ii)		(330)	85	(330)	240


	(3)	Figures for the previous periods have been regrouped wherever necessary to conform to current period's classification.
	(4)	There was no investor complaint pending at the beginning of the quarter. Two complaints were received during the quarter which were duly attended. There is no pending complaint at the end of the quarter.
	(5)	EBITO Chemiebeteiligungen AG (EBITO), the holding Company, made an open offer to acquire 20% of the equity shares of the Company pursuant to the order of the Supreme Court dated 25th August, 2004 in compliance with SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 1997 as amended up to date.
		In view of the above, aggregate of Non-Promoters shareholding, (a) Number of shares was reduced to 34,82,920 from 58,12,920 and (b) Percentage of shareholding was reduced to 29.90% from 49.90% with effect from 12th July, 2005.
	(6)	Pursuant to the open offer made by the Company to acquire 20% of the equity share capital in its subsidiary- Vanavil Dyes & Chemicals Ltd., the Company's holding has increased to 56.84% from 56.19% with effect from 5th August, 2005.
	(7)	The Company's stocks at Roha Plant and Bhiwandi Godown were affected by the recent floods to the extent of Rs.913 lakhs, in respect of which insurance claims have been lodged. The Insurance Company has made on account payments of Rs.240 lakhs.
		Further the Company has lodged insurance claims of Rs. 121 lakhs for loss/ damage to Fixed Assets at Roha Plant on account of the floods.
		The Company is also in the process of lodging insurance claim under Loss of Profit Policy, the amount of which is being determined.
		The Company is hopeful of receiving the claim amounts & adjustment, if any, will be made on final settlement of the claim.
	(8)	Pursuant to the decision taken by the Board of Directors at their meeting held on 16th September, 2005, in accordance with the provisions of Section 391 & 394 of the Companies Act, 1956 and subject to requisite approvals, Clariant (India) Limited, BTP India Private Limited and the Company's subsidiaries viz. Vanavil Dyes & Chemicals Limited and Kundalika Investments Limited will merge into Colour-Chem Limited with effect from the appointed date i.e. 1st April, 2005. However no effect has been given in this behalf in the above accounts pending receipt of the regulatory permissions.
	(9)	Prior Period items during the three months ended 30th September, 2004 includes an adjustment of Rs.650 lakhs arising out of the addendum entered into with the purchasers in respect of the sale of Land at Thane.
	(10)	The Statutory Auditors of the Company have carried out a Limited Review of the Financial Results of the three months ended 30th September, 2005 as required under the Stock Exchange Listing Regulation.