Quarter Ended June 2007     

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NATIONAL ENGINEERING INDUSTRIES LTD. 
REGD. OFFICE:  9/1 R. N. MUKHERJEE  ROAD. KOLKATA - 700001
UNAUDITED FINANCIAL RESULTS ( PROVISIONAL ) FOR THE QUARTER  ENDED  30.06.2007 ( Rs in Lacs )
 

QTR ENDED

YEAR ENDED
  30.06.07 30.06.06

31.03.07
     DESCRIPTION Reviewed Reviewed Audited
1.  SALES /  INCOME  FROM  OPERATIONS 14552.88 14072.87 60199.77
Less: EXCISE DUTY 2091.63 1868.66 8095.00
Less: SALES TAX 481.54 520.80 2287.00
NET SALES /  INCOME  FROM  OPERATIONS 11979.71 11683.41 49817.77
     
2.  OTHER  INCOME 347.36 183.90 1024.37
  12327.07 11867.31 50842.14
3.  TOTAL  EXPENDITURE    
     a) Increase ( - ) /Decrease(+) in stock in trade -353.83 -142.68 -1555.19
     b) Consumption of raw material 4947.94 4856.52 21700.10
     c) Employee cost 1485.89 1436.21 5912.92
     d) Other expenditure 3035.91 2873.10 12525.14
     
  9115.91 9023.15 38582.97
4.  PROFIT BEFORE INTEREST,
     DEPRECIATION, EXCEPTIONAL ITEMS & TAX		 3211.16 2844.16 12259.17
     
5.  INTEREST 632.09 384.70 1887.53
     
6.  DEPRECIATION 668.88 435.61 2083.98
     
7.  PROFIT BEFORE  EXCEPTIONAL ITEMS AND TAX 1910.19 2023.85 8287.66
8.  EXCEPTIONAL & PRIOR PERIOD ITEMS    
      - EXPENDITURE ON ERS/VRS 34.20 7.35 55.53
9.  PROFIT BEFORE TAX 1875.99 2016.50 8232.13
10.  PROVISION  FOR  TAXATION    
                     - CURRENT TAX -810.00 -651.00 -2564.72
                     - DEFERRED TAX CHARGE ( - ) / CREDIT ( + ) 179.82 -23.74 -638.79
                     - FRINGE BENEFIT TAX  -16.00 -11.60 -71.65
     
11.  NET PROFIT ( + ) / LOSS ( - )  1229.81 1330.16 4956.97
     
12.  PAID UP  EQUITY  SHARE  CAPITAL 80.00 80.00 80.00
     ( Face value of each share Rs. 10 each )    
13.  RESERVE  EXCL. REVALUATION  RESERVE - -   18010.90
14.  BASIC EPS FOR THE PERIOD (NOT ANNUALISED) 153.73 166.27 619.62
15.  Aggregate of non-promoter's share holding    
      Number of shares NIL NIL NIL
      % of shareholding - - -
NATIONAL ENGINEERING INDUSTRIES LTD.
REGD. OFFICE:  9/1 R. N. MUKHERJEE  ROAD. KOLKATA - 700001
AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31.03.2007
  QTR ENDED YEAR ENDED
  SEGMENTWISE REVENUE,RESULTS 30.06.07 30.06.06 31.03.07
  AND CAPITAL EMPLOYED Reviewed Reviewed Audited

1.

 Segment Revenue      
  a) Bearing Division 11319.51 11229.56

47820.74
  b) Agency Services 304.14 144.61 441.34
  c) Others 419.59 334.97 1706.08
  Total Net Sales/Income from 12043.24 11709.14 49968.16
  Operations      
         
  Less : Inter segment revenue

-

-

-
  Net sale/income from operations

12,043.24

11,709.14

49,968.16
         

2.

 Segment Results
( from each segment) 		     
  a) Bearing Division

2153.27

 2385.28 10298.13
  b) Agency Services

304.13

 144.43 440.99
  c) Others -2.32 -51.53 -615.83
  Segmentwise profit before interest & tax 2455.08 2478.18 10123.29
         
  Less : i. Interest

632.09

384.70

 1887.53
              ii. Other un-allocable expenditure
                 net off un-allocable income.

-53.00

76.98

 3.63
  Total Profit before Tax

1875.99

2016.50

 8232.13
         

3.

 Capital Employed      
  (Segment Assets-Segment Liabilities)      
  a) Bearing Division

35726.90

 23197.02 33935.42
  b) Agency Services 267.22 77.28 52.78
  c) Others 51.89 549.51 106.82
  Total 36046.01 23823.81 34095.02
 
Notes:

1. The Company has invested Rs.693.00 lacs in the share capital and given a loan of Rs.1594.78 lacs to an unlisted company where, accumulated losses exceed its paid up capital. However having regard to the long term and strategic involvement of the Company with this company, no provision is considered necessary on this account.This matter was also the subject matter of qualification in the report of auditors on the account for the year ended March 31,2007.

2. The Company did not have any unresolved investor complaints as at the beginning/end of the quarter. During the quarter, the Company has not received any complaints.

3. The promoters' group shareholding in the Company has become 100% with effect from 26th May, 2006 under the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations 2006. Consequently the Company had filed application in the previous year for delisting with both The Delhi Stock Exchange Association Limited and Madhya Pradesh Stock Exchange, where the shares of the Company are listed. Madhya Pradesh Stock Exchange has approved delisting of such Shares during the quarter.

4. The Company has adopted the Companies (Accounting Standard) Rules, 2006 with effect from April 1, 2007. As per AS 11, the exchange differences on foreign currency transactions relating to fixed assets acquired from a country outside India have been adjusted to revenue as against the hitherto followed practice of adjusting the same to the carrying amount of fixed assets. As a result, net exchange loss of Rs.68.72 lacs, which otherwise would have been adjusted against the carrying amount of fixed assets, has been debited to the Profit and Loss Account during the quarter.

5.Figures have been regrouped / rearranged wherever necessary.

6. The above results for the three months ended June 30,2007, have been subjected to a ' Limited Review ' by auditors of the company and taken on record by the Board of Directors of the Company at the meeting held on 23rd July 2007.

Place: New Delhi

By order of the Board
Date: 23.07.2007
   

 

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