CONSOLIDATED FINANCIAL RESULTS

STAND ALONE FINANCIAL RESULTS

SL

CONSOLIDATED FINANCIAL RESULTS

STAND ALONE FINANCIAL RESULTS

SL

1. The above results were reviewed by the Audit Committee of the Company and taken on record by the Board of Directors of the Company at its meeting held on 30th January, 2007.
   
    

2. The above resutls are subject to limited review by the Auditors of the Company.
   
    

3. The provision for deferred tax shall be made at the end of the year.
   
    

4. The Status of Investors' complaint during the quarter ended 31st December,2006 is : Pending at the beginnig of the Quarter Nil, Received and Disposed during the quarter 7, Pending at the end of the quarter Nil.
   
    

5. Pursuant to the Scheme of Amalgamation (the scheme) of the Shyam Century Ferrous Ltd (SCFL) with the Company as approved by the members of the Company and SCFL at court convened meetings held on 22nd August,2006 and 16th September,2006 respectively and subsequently sanctioned by the Honourable High Courts of Judicature at Kolkata and Guwahati on 8th November,2006 and 22nd November,2006 respectively and pursuant to filing of certified copies of the said orders on 7th December, 2006 with the Registrar of Companies at Kolkata and Shillong, the SCFL amalgamated with the Company with effect from appointed date 1st April,2005. Accordingly the results for the quarter and nine months ended 31st December,2005 includes the amalgamated figures. However, 95,21,865 equity shares to be issued as per the scheme are shown as share capital suspense. EPS for the current quarter and nine months ended 31st December, 2006 as well as for the previous corresponding periods and year had been arrived at on the enhanced equity capital which is pending for allotment of new shares consequent to amalgamation. The Number and percentage of Public Shareholding are shown on the basis of shares presently isssued and not on the basis of enhanced equity capital.
   
    

6. On the scheme becoming effective Cement Manufaturing Co.Ltd and Megha Technical & Engineers Pvt Ltd. being 76.73% and 99.56% subsidiaries of erstwhile Shyam Century Ferrous Limited became 76.73% and 99.56% subsidiaries of the Company. During the quarter ended 31st December,2006 the Company acquired 52.20% shareholding in Auro Sundaram Ply & Doors Limited (ASPDL) and 51% shareholding in Century Star Shipping Limited (CSSL). Accordingly both ASDPL and CSSL are recognised as subsidiaries of the Company. CMCL own and run a Cement and Clinker unit with captive lime stone mines at Meghalaya. MTEPL is enganged in generation of power and hiring of heavy equipmens used for mining. ASDPL own and run a plywood unit at Uttaranchal. CSSL is engaged in shipping business and own a tug and barge. The Company has also provided consolidated financial results alongwith stand-alone financial resutls.
   
    

7. The effect of revised Accounting Standard (AS) 15 "employees benefits issued by the Institute of Chartered Accountants of India is being reviewed by the Company and same will be provided for during the year.