ATUL LIMITED
Regd. Office : Ashoka Chambers, Rasala Marg,
Ahmedabad - 380 006, Gujarat.
UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED JUNE 30, 2003							SEGMENT REVENUE, RESULTS AND OTHER INFORMATION
(Rs Lacs)												(Rs Lacs)
					(Audited)							(Audited)
Particulars			1st Quarter ended		Year ended		Particulars			1st Quarter ended		Year ended
			June 30		March 31					June 30		March 31
			2003	2002	2003					2003	2002	2003
1.	Net Sales / Income from Operations						1.	Segment Revenue
	Gross Sales		13,660	14,817	61,644			Colors		5,690	7,183	27,956
	Less : Excise Duty		893	1,035	4,101			Speciality and other Chemicals		8,160	8,542	35,271
	Net Sales		12,767	13,782	57,543			Total		13,850	15,725	63,227
	Income from Operations		772	521	2,793			Less : Inter Segment Revenue		190	908	1,583
	Total Net Sales / Income from Operations		13,539	14,303	60,336
2.	Other Income		42	46	1,301			Net Sales / Income from operations		13,660	14,817	61,644
3.	Total Sales / Income		13,581	14,349	61,637
4.	Total Expenses						2.	Segment Results
	a)	(Increase) / Decrease in stock in trade	858	630	(1,836)			Profit before Interest and Tax
	b)	Consumption of raw materials	5,457	4,939	25,665			Colors		82	496	2,792
	c)	Staff Cost	1,871	1,853	7,332			Speciality and other Chemicals		778	1,319	5,356
	d)	Power, Fuel & Water	1,800	1,914	8,168
	e)	Manufacturing expenses	1,061	1,326	6,327			Total		860	1,815	8,148
	f)	Others	892	1,374	6,092			Less :
	Total Expenditure (a+b+c+d+e+f)		11,939	12,036	51,748			1.	Interest (Net)	570	1,009	3,293
5.	Interest (Net)		570	1,009	3,293			2.	Other unallocable expenditure	(148)	158	961
6.	Profit before Depreciation and Tax		1,072	1,304	6,596				(net of unallocable income)
7.	Depreciation		634	656	2,702
8.	Profit before tax		438	648	3,894				Total Profit Before Tax	438	648	3,894
9.	Provision for Taxation
	a)	Current Tax	35	43	305		3.	Capital Employed
	b)	Deferred Tax	2	42	184			(Segment Assets - Segment Liabilities)
	Total Tax (a+b)		37	85	489			Colors		27,881	26,619	28,634
10.	Net Profit		401	563	3,405			Speciality and other Chemicals		23,977	20,635	22,549
11.	Paid-up Equity Share Capital (Face value Rs.10/- per share)		2,967	2,967	2,967			Unallocable		4,041	7,212	5,808
12.	Reserves excluding Revaluation Reserves				24,948
13.	Basic / Diluted Earnings per Share (Rs.)		1.35	1.90	11.28			Total		55,899	54,466	56,991
14.	Investor Complaints
	a)	Received
	b)	Disposed off
	c)	Unresolved	-
NOTES:
1.	Previous year's figures have been regrouped wherever necessary.
2.	The above results were reviewed by the audit committee and taken on record by the Board of Directors at the meeting held on July 28, 2003.
3.	The Statutory Auditors have carried out a limited review of the financial results for the quarter ended June 30, 2003.
4.	Accounting Standard 26 dealing with "Intangible Assets" issued by the Institute of Chartered Accountants of India became applicable w.e.f. April 1, 2003. Consequently the unamortised balance of expenditure on Voluntary Retirement Scheme and Equipment Lease Rent as on April 1, 2003 amounting to Rs235 lacs and Rs3103 lacs respectively will be debited to General Reserve and the corresponding Deferred Tax Credit will be credited to General Reserve at the year end. Further the extra-ordinary expense on Voluntary Retirement Scheme and Equipment Lease Rent amounting to Rs59 lacs incurred during the quarter ended June 30, 2003 have been charged to Profit and Loss Account.
5.	The number of investor complaints for the quarter ended June 30, 2003 were : Opening - Nil, Received - 1, Disposed off - 1 and Balance - Nil.
											For Atul Limited
Mumbai,
July 28, 2003											Sunil S Lalbhai
Web Site: www.atul.co.in											Managing Director & CEO