ASM Investor Relationships: Financial results


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	Unaudited financial results (provisional) for the quarter ended 30th June, 2004

Quarterly Profit and Loss Account (Rs. in Lacs)

Unaudited financial results (provisional) for the quarter ended 30th June, 2004
	Quarter Ended		Year Ended	Reporting of segment wise revenue, assets & Liabilities under Clause 41 of the Listing Agreement
Particulars	30.06.2004 (unaudited)	30.06.2003 (unaudited)	31.3.2004 (unaudited)	Particulars	30.06.04
Net Sales / income from operations	328.71	144.04	747.24	Geographic Segment Revenue
Other Income	3.02	0.90	7.11	Export	197.63
Total Revenue	331.73	144.94	754.35	Domestic	131.09
Total Expenditure	313.70	154.47	740.50	Total	328.71
a. Increase/Decrease in Stock		---	19.15	Other Income
b. Staff Cost	275.94	139.99	621.95	Interest	0.21
c. Other Expenditure	37.76	14.48	99.40	Others	2.81
Profit(+)/Loss(-) before interest, depreciation & tax	18.03	(9.53)	13.85	Total	3.02
Interest	5.38	6.84	25.38
Profit(+)/Loss(-) after interest, but before depreciation & tax	12.65	(16.37)	(11.52)	Segment Asset and Liability
Depreciation	18.79	18.79	75.16
Profit(+)/Loss(-) before tax	(6.14)	(35.16)	(86.68)	Segment Assets
Provision for Tax	-	-	-	Outside India	368.24
Net Profit (+) / Loss (-)	(6.14)	(35.16)	(86.68)	India	736.94
Deferred Tax Asset/ Liability adjustment	-	5.74	29.31
Net Profit (+) / Loss (-) before extraordinary item	(6.14)	(29.42)	(57.37)	Investments
Extraordinary non-recurring item	-	-	76.80	Outside India	71.89
Profit (+)/Loss (-) for the year / period	(6.14)	(29.42)	(134.17)
Paid up equity share capital (Rs. 10 per share)	500.00	500.00	500.00	Segment Liabilities
Reserves excluding revaluation reserves	333.31	333.31	333.31	Outside India	434.80
Earnings per share (Rs.) (Not annualised)	(0.12)	(0.59)	(2.68)	India	497.02
Aggregate of non-promoter Shareholding
-Number of Shares	2,499,549	2,623,786	2,519,379
-Percentage of Shareholding	49.99	52.48	50.39

The above financial results were taken on record by the Board of Directors at their meeting held on 31st July, 2004.

The Group total revenue of ASM and its wholly owned subsidaries in US and Singapore (net of intercompany sales) amounted to Rs. 618.55 Lacs for the quarter ended 30th June 2004 as against Rs. 395.36 Lacs for the quarter ended 30th June 2003.

Details of Shareholders Complaints/Grievances during 01.04.2004 to 30.06.2004

No. of Complaints/Grievances received	Resolved	Pending
2	2	-

Auditor's qualification in the Audit Report

Interest on term loan due to IDBI amounting to Rs. 112.61 lakhs is not provided. Further liquidated damages amounting to Rs. 48.30 Lakhs claimed by IDBI is not recognised in the accounts. Had the provision been made for the interest and liquidated damages the profit would have been lower by Rs. 160.91 lakhs and the liability towards IDBI loan would have been more by the same amount.
Reply - The Company is negotiating a one time settlement (OTS) with IDBI in respect of the loan outstanding and hence has not provided for interest on term loan and liquidated damages in the accounts.

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