Clariant - Financial Results Dec 2005

Colour-Chem Limited

							(Rs. In Lakhs)

			Three Months Ended	Three Months Ended	Nine Months Ended	Nine Months Ended	Previous Accounting Year
			31.12.2005	31.12.2004	31.12.2005	31.12.2004	31.03.2005
			(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)

1		Gross Sales/Income from Operations	10,449	9,196	31,832	31,290	41,099
		Less: Excise Duty	868	829	2,759	2,872	3,800
		Net Sales/ Income from Operations	9,581	8,367	29,073	28,418	37,299
2		Other Income [See note 2 (i)]	551	481	1,561	2,155	2,425

			10,132	8,848	30,634	30,573	39,724

3		Total Expenditure
	a)	(Increase)/ Decrease in stock in trade	(310)	(296)	(410)	75	(363)
	b)	Consumption of Raw Materials	4,888	4,104	14,639	12,979	17,563
	c)	Purchase of Finished Goods	1,199	1,505	3,639	4,735	5,978
	d)	Power and Fuel	531	455	1,560	1,530	1,998
	e)	Personnel Cost [See note 2 (ii)]	788	878	2,911	3,029	3,546
	f)	Other Expenditure [See note 2 (iii)]	2,398	1,357	5,450	4,456	5,974
4		Interest	93	126	265	262	302
5		Depreciation	320	283	926	856	1,147

			9,907	8,412	28,980	27,922	36,145

6		Profit before Tax and Prior Period items	225	436	1,654	2,651	3,579
7		Provision for Taxation
	a)	Current (including Fringe Benefit Tax)	220	160	665	590	760
	b)	Deferred	(77)	111	17	378	564
	c)	Short/ (Excess) Provision for prior years current taxation (net)	(50)	46	(50)	46	46
8		Net Profit before Prior Period items and after tax	132	119	1,022	1,637	2,209
9		Prior Period Items	-	-	-	650	650
10		Net Profit after Prior Period items and tax (8-9 )	132	119	1,022	987	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.)	1.13	1.02	8.77	8.47	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 January 24, 2006.

(2)							(Rs. in lakhs)
				Three Months Ended	Three Months Ended	Nine Months Ended	Nine Months Ended
				31.12.2005	31.12.2004	31.12.2005	31.12.2004

	(i)	Other Income includes
	(a)	Profit on sale of assets		-	-	-	443
	(b)	Remission on early repayment of interest-free deferred sales tax loan		-	77	-	247

				-	77	-	690
	(ii)	Personnel Cost includes
	(a)	Expenditure on implementation of Voluntary Retirement Scheme by the Company		-	-	-	373
	(b)	Provision of Rs.330 lakhs on account of the higher actuarial liability of gratuity as on July 31, 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 March 31, 2005.		-	-	330	-

				-	-	330	373

	(iii)	Other Expenditure includes
	(a)	Flood Loss (net of insurance claims received) (See note 5)		43	-	43	-
	(b)	Adjustment on sale of land (See note 6)		118	-	118	-

				161	-	161	-

		Net (i-ii-iii)		(161)	77	(491)	317


	The aforesaid one time transactions have accordingly affected the results for the three months and nine months ended December 31, 2005

(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. One complaint was received during the quarter which was duly attended. There is no pending complaint at the end of the quarter.
(5)	Against insurance claims lodged of Rs.235 lakhs in respect of loss of stocks at Bhiwandi Godown and assets affected at Roha plant due to recent floods, the Company has received Rs.192 lakhs on settlement. On account payment of Rs.200 lakhs have been received from the insurance company against claims in respect of loss of stocks at Roha Rs. 600 lakhs which is yet to be settled.
	The Company is also in the process of lodging insurance claims under Loss of Profit Policy, the amount of which is being determined.
	The Company is hopeful of receiving the balance claims & adjustment, if any, will be made on final settlement of the claim.
(6)	Adjustment on sale of land amounting to Rs.118 lakhs arises out of the development agreement with the purchaser on December 28, 2005 in respect of sale of surplus land at Thane in December 2003.
(7)	Pursuant to the Scheme of amalgamation considered by the Board of Directors and subsequent approval by the members of the Company at the court convened meeting held on December 8, 2005 and subject to approval from the Honorable High Court of Bombay, 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 in accordance with the provisions of Section 391 & 394 of the Companies Act, 1956 with effect from the appointed date i.e. April 1, 2005. However, no effect has been given in this behalf in the above accounts pending receipt of the regulatory permissions.
(8)	The Statutory Auditors of the Company have carried out a Limited Review of the Financial Results of the three/ nine months ended December 31, 2005 as required under the Stock Exchange Listing Regulation.