Audited Financial Results for the year ended 31st March, 2008

RS. IN LACS
    9 Month QUARTER ENDED YEAR ENDED
Ended
31st Dec'07		 31st
March'08		 31st
March'07		 31st
March'08		 31st
March'07
Unaudited Audited Audited Audited Audited
01 Gross Sales 5,008.92 1490.26 2056.75 6499.18 7960.92
  Less: Excise Duty 399.70 90.75 276.73 490.45 958.34
  Net Sales 4609.22 1,399.51 1,780.02 6008.73 7002.58
02 Other Income 213.93 5.95 104.12 219.88 316.84
03 Total Income 4823.15 1,405.46 1,884.14 6228.61 7319.42
04 Total Expenditure          
  a) Increase/(Decrease) in stock in trade (965.66) 32.81 (28.01) (932.85) 365.81
  b) Consumption of raw materials 2,060.75 588.42 789.69 2,649.17 2,943.41
  c) Purchases 684.86 (64.84) 3.68 620.02 128.48
  d) Employees cost 530.31 207.43 175.73 73747 648.52
  e) Depreciation 67.11 31.54 18.89 98.65 75.98
  f) Other expenditure          
  - Power & Fuel 681.18 (1.94) 212.00 679.24 816.45
  - Selling expenses 568.96 207.40 220.25 776.36 939.09
  - Others 514.27 167.07 67.87 681.34 605.83
  g) Total 4141.78 1167.89 1460.10 5309.67 6523.57
05 Interest 205.30 100.67 73.21 305.97 239.90
06 Exceptional Items - - - - -
07 Profit before Tax 476.05 136.91 350.83 612.97 555.95
08 Tax Expenses          
  - Current Tax 34.81 20.33 37.47 55.14 46.00
  - Deferred Tax 70.94 31.31 115.55 102.25 136.73
  - Fringe Benefit Tax 5.47 2.53 3.66 8.00 9.50
09 Net Profit After Tax 364.84 82.74 194.15 447.58 363.72
10 Extraordinary Items - - - - -
11 Net Profit for the period 364.84 82.74 194.15 447.58 363.72
12 Paid-up Equity Share Capital
(Face value Rs.10/-)		 1,832.74 1,832.74 1,832.74 1,832.74 1,832.74
13 Reserves excluding revaluation reserve 388.37 80.20 - 468.57 23.52
14 Basic and diluted EPS for the period, for the year to date and for the Previous Year (In Rs.) 1.99 0.45 1.06 2.44 1.98
15 Aggregate of Non - Public  Shareholding          
  - Number of Shares       13,231,600 13,953,531
  - Percentage of Shareholding       72.20 76.13



NOTES:-

1.      The Directors are pleased to recommend a Dividend of 6% (Re.0.60 per Equity Share of Rs.10) for the year (Previous year NIL).
 

2.      Freight as included in selling expenses is charged to account on incurrence/ accrual at the time of removal of finished goods from the factory. Therefore, this may not necessarily relate to sales achieved during a particular period. However, this is according to the accounting policy consistently followed by the company.
 

3.      Net Sales Rs.6008.73 lacs (Previous year Rs.7002.58 lacs) includes Formaline Sales of Rs.13.18 lacs (Previous year Rs.524.73 lacs) as Formaline produced was only used for internal consumption.
Particle Board sales discontinued during the year was Rs.49.13 lacs (Previous year Rs.154.02 lacs). Sales and Production of Popular Grade was discontinued during the year as this was not remunerative.
 

4.      Purchases include import of MDF Boards aggregating to Rs.538.00 lacs for the year ended 31st March, 2008.
 

5.      Credit Balance of Rs.64.84 lacs as per Sl. No.4(c) purchases for the quarter ended 31st March, 2008 is due to adjustments relating to earlier quarters and for regrouping of figures..
 

6.      Credit Balance of Rs.1.94 lacs for Power & Fuel as per Sl. No.4(f) is on account of Electricity Duty aggregating to Rs.157.76 lacs adjusted as income for the quarter ended 31st March, 2008 as per BIFR order.
 

7.      The Company has adopted Accounting Standard 15 Employee Benefits (revised 2005) with effect from 1st April, 2007.
 

8.      Information on investor complaints for the quarter ended 31st March, 2008 (in nos.)
 

 

Opening Balance of
Complaints		 Received during
the Quarter		 Disposed off during
The Quarter		 Closing
Balance
NIL 10 10 NIL

 

9.      Figures of the previous period have been regrouped / rearranged wherever considered necessary.
 

10.      The above results have been approved by the Board of Directors in their meeting held on 29th April, 2008.
 

11.      The results of the Company are available at the Company's web site www.mangalamtimber.com
 

 

Place : Kolkata For MANGALAM TIMBER PRODUCTS LIMITED
Date : 29th April, 2008 SARVADAMAN RAY
MANAGING DIRECTOR

 

 

Quarterly reporting of segment wise revenue, results and capital employed, under clause 41 of the listing agreement
  9 Month Quarter Ended Year Ended
Ended
31.12.2007		 31st
March,2008		 31st
March,2007		 31st
March,2008		 31st
March,2007
Unaudited Audited Audited Audited Audited
1 Segment Revenue (Net sale/income from each segment)          
  a) Segment – Medium Density Fibre Board 4341.91 1259.08 1923.89 5600.99 7028.37
  b) Segment – Formaldehyde 426.09 131.64 374.68 557.73 1372.63
  c) Others 651.64 231.19 26.87 882.83 327.52
  Total 5419.64 1621.90 2325.44 7041.55 8728.52
  Less: Inter Segment Revenue 410.72 131.64 268.69 542.37 767.60
  Gross sales/Income 5008.92 1490.27 2056.75 6499.18 7960.92
  Less : Excise Duty 399.70 90.75 276.73 490.45 958.34
  Net sales/Income from Operations 4609.22 1399.52 1780.02 6008.73 7002.58
2 Segment Results (Profit before tax and interest from each segment)          
  a) Segment – Medium Density Fibre Board 118.26 434.84 327.93 553.10 346.05
  b) Segment – Formaldehyde (1.86) 87.76 42.65 85.90 172.37
  c) Others 497.67 (268.84) (27.77) 228.83 53.20
  Total 614.07 253.76 342.81 867.82 571.62
  Less: i. Interest 205.30 100.67 73.21 305.97 239.90
  ii. Other un-allocable (income)/
expenditure net off of
un-allocable income/expenditure.		 (67.30) 16.18 (81.23) (51.12) (224.23)
  Total Profit Before Tax 476.07 136.91 350.83 612.97 555.95
3 Capital Employed (Segment assets – Segment liabilities)          
  a) Segment – Medium Density Fibre Board 3406.78 4682.07 3122.25 4682.07 3122.25
  b) Segment – Formaldehyde (34.55) 135.40 (24.66) 135.40 (24.66)
  c) Segment – Unallocable 584.78 387.86 369.41 387.86 369.41
  Total 3957.01 5205.33 3467.00 5205.33 3467.00

 

NOTES: Figures of the previous period have been regrouped / rearranged wherever considered necessary.