ATUL LIMITED
Regd. Office : Ashoka Chambers, Rasala Marg,
Ahmedabad - 380 006, Gujarat.
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2004
(Rs Lacs)
          (Audited) Consolidated (Audited)
Particulars 9 Months ended 4th Quarter ended Year ended Year ended Year ended Year ended
  December 31 March 31 March 31 March 31 March 31 March 31
  2003 2004 2003 2004 2003 2004 2003
1. Net Sales / Income from Operations                
  Gross Sales              44,780               16,022           15,595               60,802           61,644           62,982           63,937
  Less : Excise Duty                2,898                 1,067                 512                 3,965              3,873              3,965              3,873
  Net Sales            41,882               14,955           15,083               56,837           57,771           59,017           60,064
  Other Operating Income               1,964                    597              1,240                 2,561              2,793              2,560              2,793
  Total Net Sales / Income from Operations           43,846               15,552           16,323               59,398           60,564           61,577           62,857
2. Other Income                 340                    621                 813                    961              1,301                 977              1,308
3. Total Sales / Income           44,186               16,173           17,136               60,359           61,865           62,554           64,165
4. Total Expenses               (1,067) (3,965)
  a) (Increase) / Decrease in stock in trade              1,716                    766               (285)                 2,482            (1,836)              2,433            (2,190)
  b) Consumption of raw materials           19,121                 7,119              6,736               26,240           25,712           28,319           27,599
  c) Staff Cost              5,772                 2,001              1,955                 7,773              7,332              7,932              7,493
  d) Power, Fuel & Water              5,496                 1,751              1,962                 7,247              8,168              7,247              8,168
  e) Manufacturing expenses              3,762                 1,463              1,648                 5,225              6,327              5,230              6,331
  f) Others              3,685                 2,127              2,105                 5,812              6,272              5,948              6,335
  Total Expenditure (a+b+c+d+e+f)           39,552               15,227           14,121               54,779           51,975           57,109           53,736
5. Interest (Net)              1,639                    518                 636                 2,157              3,293              2,149              3,290
6. Profit before Depreciation and Tax              2,995                    428              2,379                 3,423              6,597              3,296              7,139
7. Depreciation              1,958                    770                 707                 2,728              2,702              2,732              2,707
8. Profit before tax                1,037                   (342)              1,672                    695              3,895                 564              4,432
9. Provision for Taxation                              -    
  a) Current Tax                      -                         5                 150                         5                 305                     2                 320
  b) Deferred Tax                   54                    410                 113                    464                 184                 460                 186
  Total Tax (a+b)                   54                    415                 263                    469                 489                 462                 506
10. Net Profit before Tax adjustments & other items relating to earlier years                 983                   (757)              1,409                    226              3,406                 102              3,926
11. Tax adjustments & other items relating to earlier years              
  a) Tax adjustments relating to earlier years                   80                      82                 430                    162                 734                  (27)                  (66)
  b) Other items relating to earlier years                      -                     (38)                 267                     (38)                 267                 160              1,067
  Total Tax adjustments & other items relating to earlier years (a+b)                     80                      44                 697                    124              1,001                 133              1,001
12. Net Profit after Tax adjustments & other credits relating to earlier years              1,063                   (713)              2,106                    350              4,407                 235              4,927
13. Paid-up Equity Share Capital (Face value Rs.10/- per share)              2,967                 2,967              2,967                 2,967              2,967              2,967              2,967
14. Reserves excluding Revaluation Reserves       24,737           24,948           23,981           24,443
15. Basic Earnings per Share (Rs.)              
    Profit before prior period adjustments                3.31                  (2.55)                4.67                   0.76              11.29                0.34              13.04
    Profit after prior period adjustments                3.58                  (2.40)                7.02                   1.18              14.66                0.79              16.41
16. Aggregate of Non Promoters' Shareholding :              
  Number of Equity Shares (Face value Rs.10/- per Share)    19,084,171       19,058,552    18,992,959       19,058,552    18,992,959    
  Percentage of holding 64.34% 64.25% 64.03% 64.25% 64.03%    
NOTES:
1. The above results were reviewed by the audit committee and taken on record by the Board of Directors at the meeting held on May 21, 2004.
2. Other income for the 4th quarter and the year ended on 31.03.2003 included Rs397 lacs being profit on sale of investments held by the company.
3. Previous year's figures have been regrouped wherever necessary.
4. Directors recommend a Dividend of Rs.1.50 Per share (15 %), subject to approval of shareholders.
5. During the year the Company paid under the Voluntary Retirement Scheme a total of Rs1027 lacs.In terms of the accounting policy of the Company such a payment is to be amortised over a period of 3 years and accordingly the staff cost for the year ended 31st March 2004 includes additional amortisation of Rs349 lacs.
6. 2 Projects for the manufacture of Para Cresol (10000 TPA) and Phin (320 TPA) were commissioned during the quarter.
7. The number of investor complaints for the quarter ended March 31, 2004 were : Opening - Nil, Received - 3, Disposed off - 3 and Balance - Nil.
For Atul Limited
Mumbai,
May 21, 2004 Sunil S Lalbhai
Web Site: www.atul.co.in Managing Director & CEO