|
(Rs. in Lacs)
|
|
S.no.
|
Particulars
|
Three months period ended
31.03.2009
|
Corresponding Three
Months period ended in the Previous Year
31.03.2008
|
Year to date figures
for Current Year
ended
31.03.2009
|
Previous Accounting
Year Ended
31.03.2008
|
| |
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
| 1
|
Net Sales / Income from Operations
|
332.71
|
362.32
|
1443.92
|
1390.87
|
| 2 |
Expenditure
|
|
|
|
|
| |
a.
Employees cost
|
45.02
|
48.09
|
185.55
|
176.68
|
| |
b.
Depriciation
|
11.72
|
37.02
|
104.10
|
115.44
|
| |
c.
Other Expenditure
|
98.08
|
117.06
|
408.39
|
464.19
|
| |
Total
|
154.82
|
202.17
|
698.04
|
756.31
|
| 3 |
Profit
from Operations before Other Income, Interest
& Exeptional Items (1-2) |
177.89
|
160.15
|
745.88
|
634.56
|
| 4 |
Other
Income |
0.00
|
43.64
|
144.73
|
163.25
|
| 5 |
Excess Provision for NPAs
Written back
|
965.00
|
1018.22
|
965.00
|
1000.88
|
| 6 |
Profit
from Operations before Interest & Exeptional
Items (3+4+5)
|
1142.89
|
1222.01
|
1855.61
|
1798.69
|
| 7 |
Interest
|
3.69
|
3.53
|
126.64
|
68.60
|
| 8 |
Profit
after Interest but before Exeptional Items (6-7) |
1139.20
|
1218.48
|
1728.97
|
1730.09
|
| 9 |
Exceptional Items (Amounts
written off & Loss on sale of Investments)
|
476.02
|
106.14
|
625.92
|
939.94
|
| 10 |
Profit(+)/
Loss (-) from Ordinary Activities before tax
(8-9) |
663.18
|
1112.34
|
1103.05
|
790.15
|
| 11 |
Tax Expense
|
2.59
|
3.05
|
11.71
|
32.12
|
| 12 |
Net Profit (+)/Loss (-)
from Ordinary Activities after tax (10-11)
|
660.59
|
1109.29
|
1091.34
|
758.03
|
| 13 |
Extraordinary items (net of
tax expense)
|
154.14
|
0.00
|
2977.84
|
1230.09
|
| 14 |
Net Profit (+)/Loss(-)
for the period (12+13)
|
814.73
|
1109.29
|
4069.18
|
1988.12
|
| 15 |
Paid up Equity Share Capital
(Face Value Rs10/- )
|
1936.35
|
1936.33
|
1936.35
|
1936.33
|
| 16 |
Reserves excluding Revaluation
Reserves as per Balance Sheet of Previous
Accounting Year.
|
-
|
-
|
-
|
(2213.26)
|
| 17 |
Earnings Per Shares(EPS)
|
|
|
|
|
| a |
Basic and Diluted EPS before
Extra Ordinary items, for the period &
for the year to date and for Previous year
(not annualised)
|
3.41
|
5.73
|
5.64
|
3.91
|
| b |
Basic and Diluted EPS after
Extra Ordinary items, for the period &
for the year to date and for the Previous
year (not to be annualised)
|
4.21
|
5.73
|
21.01
|
10.27
|
| 18 |
Public
Shareholdings
|
|
|
|
|
| |
-Number of Shares
|
8536338
|
9097394 |
8536338 |
9097394 |
| |
-Percentage of shareholding
|
44.08%
|
46.98% |
44.08% |
46.98% |
| 19 |
Promoters
and promoter group Shareholding** |
|
|
|
|
| a) |
Pledged/Encumbered |
|
|
|
|
| |
- Number
of Shares |
NIL
|
NIL
|
NIL
|
NIL
|
| |
-
Percentage of shares (as a % of the total shareholding
of promoter and promoter group) |
NIL
|
NIL
|
NIL
|
NIL
|
| |
- Percentage
of shares (as a % of the total share capital
of the company) |
NIL
|
NIL
|
NIL
|
NIL
|
| b) |
Non-encumbered |
|
|
|
|
| |
- Number
of Shares |
10827257
|
N.A |
10827257 |
N.A |
| |
-
Percentage of shares (as a % of the total shareholding
of promoter and promoter group) |
100%
|
N.A.
|
100%
|
N.A
|
| |
- Percentage
of shares (as a % of the total share group ) |
55.92%
|
N.A
|
55.92%
|
N.A
|
| Notes: |
|
|
| 1. |
The above financial results were
reviewed by the Audit Committee and approved
by the Board of Directors in their meeting
held on 30th April,2009 and are subject to
Limited Review by the Statutory Auditors of
the Company
|
| 2.
|
Provisions for Non Performing
Assets required in terms of Non Banking Financial
Companies Prudential Norms (Reserve Bank)
Directions, 1998, as amended, has been considered
in the above unaudited financial results for
the year ended March, 31, 2009.
|
| 3. |
"AS-17" relating
to Segment Reporting issued by the Institute
of Chartered Accountants of India, is not
applicable.
|
| 4. |
In compliance of Accounting
Standard "AS 22" on 'Accounting
for Taxes on Income' issued by The Institute
of Chartered Accountants of India and considering
accumulated losses, calculation of deferred
/provision for taxation , if any, will be
considered in the Audited Accounts for the
year ended 31st March,2009.
|
| 5. |
The Company is generating
profits for the last five years, which has
led to reduction of accumulated losses. The
Company has also discontinued fresh hire purchase/
leasing business.The Management is of the
view that the company has assets of substantial
market value to generate enough funds to pay
of its entire liabilities. In view of the
above the accounts have been prepared on the
assumption that the Company will continue
as a Going Concern.
|
| 6. |
The Auditors' observation
on the Audited Accounts for the year ended
31.3.2008 related to :
|
|
i)
|
Preparation of Financial
Statements on Going Concern Basis despite
Net Worth being negative
|
|
ii)
|
Provisions not having been
made for depreciation on leasehold land for
which the amount has not been quantified.
|
|
iii)
|
Provision has not been
provided for diminution in value of Long Term
Investments.
|
|
iv)
|
Provision not having made
for interest on overdue Inter Corporate Deposits.
|
|
v)
|
Consequential effect of
above is non compliance of RBI's Prudential
Norms
|
| 7. |
Management
Comments:
|
| |
i) The financial results
have been prepared on going concern basis
with a positive net worth as on 31st March,2009.
ii) No write off is made in respect of lease
relating to leasehold lands.
iii) Long Term Investments are consistently
valued at cost based on their intrinsic Net
Worth.
iv)Interest on overdue on Inter Corporate
Deposits has been now accounted for after
the matter has been resolved with the party
concerned.
v) In view of positive Net Worth, there will
not be any consequential effect on non compliance
of RBI's Prudential Norms.
|
| 8. |
In terms of Clause 41 of
the Listing Agreement, total number of complaints
for the quarter ended March 31, 2009 begining
nil, received 10, disposed off 10, pending
nil.
|
| 9. |
The
Board of Directors had declared on Interim Dividend
of Rs.2/- per equity share of Rs.10/- each amounting
ro Rs.453.08 lacs including dividend tax in
its meeting held on September 25,2008 which
has since been paid. |
| 10. |
Pursuant
to order passed by the Hon'ble High Court of
Delhi at New Delhi vide its order dated 27-1-2009
approving the Scheme of Amalgamationm with Appointed
Date 1-4-2007 and Effective Date 13-3-2009,
NAP Saled (P) Limited and Janata Cinemas Propeties
& Finance Limited have merged with the transferee
company i.e. The Motor & General Finance
Limited. The transferee company has alloted
on 30-03-2009, 277 Equity Shares to the shareholders
of Transferor Companies. In-principle approval
for the listing of 277 Equity Shares has been
received from National Stock Exchange of India
Ltd. Approval from Bombay Stock Exchange is
awaited. Financial impact, consequent to meger,
will be taken into account in the audited accounts
for the year ended 31st March,2009 |
| 11. |
Figures have been regrouped/rearranged
wherever considered necessary.
|
|
|
Place:
New Delhi
Dated :30th April, 2009 |
For
THE MOTOR & GENERAL FINANCE LTD
(RAJIV
GUPTA)
CHAIRMAN & MANAGING DIRECTOR
|
