BUTTERFLY GANDHIMATHI APPLIANCES LIMITED
REGD.OFFICE: 143, VANDALUR-KELAMBAKKAM ROAD
KELAMBAKKAM - 603 103, KANCHEEPURAM DISTRICT
UNAUDITED FINANCIAL RESUTLS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2011
Rs. In lakhs
Particulars Three months ended 30/09/11 Corresponding Three months ended in the previous year 30/09/10 Six months ended 30/09/11 Corresponding Six months ended in the previous year 30/09/10 For the financial year ended on 31st March, 2011
  (Unaudited) (Unaudited) (Unaudited) (Unaudited) Audited
  Rs. Rs.     Rs.
1. a) Net Sales / Income from Operations 11,098.12 6,786.77 17,934.35 11,380.33 22,080.59
b) Other Operating Income 90.18 64.68 177.96 94.62 247.13
Total Income 11,188.29 6,851.45 18,112.31 11,474.95 22,327.72
2. Expenditure          
a. Increase/(Decrease) in stock in trade and work in progress (108.45) (394.73) (121.81) (840.29) (1,192.07)
b. Consumption of raw materials, Components 4,397.57 3,462.93 7,585.20 6,027.12 11,058.15
stores and Spares and Processing charges          
c. Purchase of traded goods 1,648.03 814.08 2,295.41 1,238.81 3,009.21
d. Employees cost 577.66 368.86 1,079.40 718.76 1,308.65
e. Depreciation 48.53 31.15 93.56 65.10 115.97
f. Excise Duty 984.22 578.97 1,563.24 965.34 1,750.69
g. Other expenditure 2,505.58 1,386.30 3,760.74 2,221.98 4,200.68
h. Total 10,053.14 6,247.56 16,255.73 10,396.82 20,251.27
3. Profit from Operations before Other Income, Interest and Exceptional item (1-2) 1,135.15 603.89 1,856.58 1,078.13 2,076.44
4. Other Income 18.70 2.85 83.34 6.10 32.48
5. Profit before Interest & Exceptional Items (3 + 4) 1,153.85 606.74 1,939.92 1,084.23 2,108.92
6. Interest 319.93 195.48 563.06 364.79 628.66
7. Profit after Interest but before Exceptional Items (5-6) 833.92 411.27 1,376.85 719.44 1,480.26
8. Exceptional Items 5.93 - 5.93 - 117.79
9. Profit (+)/ Loss (-) from Ordinary Activities before tax (7+8) 839.85 411.27 1,382.79 719.44 1,598.05
10. Tax expenses          
- Income Tax - 72.60 - 182.44 549.29
- Fringe Benefit Tax - - - -  
- Excess Provision for taxation made for the previous year reversed - - - - (437.30)
- Deferred Tax Asset/Liabilities 20.47 (2.03) 21.89 1.78 7.76
11. Net Profit (+)/ Loss (-) from Ordinary Activities after tax (9-10) 819.38 340.69 1,360.90 535.22 1,478.30
12. Extraordinary Items (net of tax expenses)   -      
13. Appropriations:          
Proposed Dividend on Equity Share         96.35
Tax on proposed Dividend         16.00
14. Net Profit (+) / Loss (-) for the period (11-12) 819.38 340.69 1,360.90 535.22 1,365.95
15. Paid-up equity share capital 1,542.86 1,542.86 1,542.86 1,542.86 1,542.86
(Face Value of the share Rs.10 each)          
16. Reserves excluding Revaluation Reserves as per balance sheet          
of previous accounting year - - - - 3,429.92
17. Earnings Per Share (EPS)          
a. Basic and diluted EPS before Extraordinary Items for the period, for the year to date and for the previous year. 5.31 2.21 8.82 3.47 8.85
b. Basic and diluted EPS after Extraordinary items for the period, for the year to date and for the previous year. 5.31 2.21 8.82 3.47 8.85
18. Public share holding          
- Number of shares 3,432,793 2,432,793 3,432,793 2,432,793 3,432,793
- Percentage of shareholding 22.25% 15.77% 22.25% 15.77% 22.25%
19. Promoters and promoter group share holding          
a) Pledged/Encumbered          
  15428551 15428551 15428551 15428551 15428551
- Number of shares 318,100 2,059,957 318,100 2,059,957 318,100
- Percentage of shares (as a % of the total share holding of promoter and promoter group) 2.65% 15.85% 2.65% 15.85% 2.65%
- Percentage of shares (as a % of the total share capital of the Company) 2.06% 13.35% 2.06% 13.35% 2.06%
b) Non-encumbered          
- Number of shares 11,677,658 10,935,801 11,677,658 10,935,801 11,677,658
- Percentage of shares (as a % of the total share holding of promoter and promoter group) 97.35% 84.15% 97.35% 84.15% 97.35%
- Percentage of shares (as a % of the total share capital of the Company) 75.69% 70.88% 75.69% 70.88% 75.69%
GANDHIMATHI APPLIANCES LIMITED
STATEMENT OF ASSETS AND LIABILITIES
Rs. In lakhs
PARTICULARS AS AT 30.09.2011 AS AT 30.09.2010
  Unaudited Unaudited
  Rs. Rs.
SHAREHOLDERS' FUNDS:    
(a) Capital 2,542.86 2,542.85
(b) Reserves and Surplus 203.74 203.74
     
LOAN FUNDS 9,167.57 8,789.27
PROFIT AND LOSS ACCOUNT 4,589.95 1,842.21
TOTAL 16,504.12 13,378.07
     
FIXED ASSETS 5,016.89 4,398.49
INVESTMENTS    
CURRENT ASSETS, LOANS AND ADVANCES    
(a) Inventories 5,660.98 3,511.24
(b) Sundry Debtors 7,149.88 3,973.82
(c ) Cash and Bank Balance 950.02 349.93
(d) Others Current Assets - -
(e) Loans and Advances (includes Rs.250 lakhs being advance received against shares to be issued) 5,973.67 3,783.88
Less: current Liabilities and Provisions     0.01
(a) Liabilities 8,378.38 3,040.12
(b) Provisions 374.79 227.17
Deferred Tax Assets/(Liabilities) 505.85 628.00
MISCELLANEOUS EXPENDITURE (NOT WRITTEN OFF OR ADJUSTED) - -
PROFIT AND LOSS ACCOUNT - -
TOTAL 16,504.12 13,378.07 -
1. The name of the Company has been changed from `Gandhimathi Appliances Limited' to `Butterfly Gandhimathi Appliances Limited' with effect form 25th October, 2011
2. Gangadharam Appliances Limited (GAL) has been merged with this Company in terms of an Order of the `The Board for Industrial and Financial Reconstruction' (BIFR) dated 17th August, 2011 with retrospective effect from 1st January, 2009. Accordingly the revenue results shown above include the activities of the erstwhile GAL. The other information shown above under items 15 to 19 also incorporate the position arising from the merger of GAL subject to such adjustments complying with the Order of BIFR stated above.
3. The audited figures for the year ended on 31st March, 2011 relate to the respective consolidated audited figures of GMAL and GAL after making such adjustments, complying with the Order of BIFR stated above. Similarly statement of Assets and Liabilities (unaudited) as at 30th September, 2011 is a consolidation of Assets and Liabilities of both GMAL and GAL, adjusted as mentioned above.
4. No provision for taxation under normal provisions of the Income-tax Act, 1961, is required for three months ended on 30th, September, 2011 and six months ended on 30th September, 2011 taking into consideration the carry forward benefits of accumulated losses and depreciation of GAL as envisaged in section 72A of the Income-tax Act, 1961 (`the ACT') available for set-off in terms of BIFR order. As far as MAT liability u/s 115JB of the `ACT' if required, will be considered at the end of the financial year viz as on 31.03.2012.
5 . The above results, were reviewed by the Audit Committee of the Board and were approved by the Board of Directors at its meeting held on 14th November, 2011.
6. The Figures for the quarter ended on 30.09.2010, half year ended on 30.09.2010 and the financial year of nine months period ended on 31.03.2011 have been regrouped/ rearranged to conform with the figures for the current quarter ended on 30.09.2011.
7. The operation of the Company relates to only one segment, viz., domestic appliances.
8. The number of Investor complaints received during the quarter were 20, which have been resolved / disposed off. There were no investor complaints pending at the beginning as well as at the end of the quarter.
9. Limited Review of the above results has been carried out by the Company's Statutory Auditors and the Report is forwarded to the Stock Exchanges.
For BUTTERFLY GANDHIMATHI APPLIANCES LIMITED
Place: Chennai (V.M.SHESHADRI)
Date : 14th November, 2011. MANAGING DIRECTOR