NUCLEUS SECURITIES LIMTIED
Regd. Office : `Nucleus House', Saki-Vihar Road,
Andheri (East), Mumbai 400072
 
Unaudited Financial Results (Provisional)
As on 31st December, 2003.
.     (Rs.in lacs)
                   Quarter Ended Nine Months period ended Year Ended
Sr No. Particulars 31.12.2003 31.12.2002 31.12.2003 31.12.2002 31.03.2003
    (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1
 Net Sales / Income from Operations :-
-- Money Changing Division 8.16 45.07 54.19 166.46 211.23
-- Money Transfer 14.15 13.90 39.83 45.96 60.6
--Income from Trading in shares 122.14 0 157.97 0 0
144.45 58.97 251.99 212.42 271.83
2
 Other Income 12.21 7.27 27.38 28.99 34.53
3
 Total Expenditure 109.45 83.70 216.86 253.79 359.25
a) Increase /decrease in stock in trade 0 0 0 0 0
b) Consumption of raw materials 0 0 0 0 0
c) Staff Cost 18.81 23.56 58.29 72.7 95.14
d) Provision for Bad Debts (Net) 11.00 20.71 11.00 55.61 68.24
e) Bad Debts Written off 8.35 0 8.35 0 28.11
f) Other Expenditure 71.29 39.43 139.22 125.48 167.76
4
 Interest (Net) 5.80 8.31 21.71 29.21 37.03
5
 Depreciation 5.69 5.63 15.56 17.56 20.75
6
 Profit(+)/Loss(-) Before Tax (1+2-3-4-5) 35.72 -31.40 25.24 -59.15 -110.67
7
 Provision for Deferred Taxation 0 0 0 0 8.86
8
 Provision for Taxation (See Note 2) 0 0 0 0 0
9
 Net Profit (+)/ Loss (-) (6-7) 35.72 -31.40 25.24 -59.15 -119.53
10
 Paid -up Equity Share Capital (F. V. Rs. 10/- each) 344.08 344.08 344.08 344.08 344.08
11
 Reserves Excluding revaluation Reserves 0 0 0 0 257.84
12
 Basic and diluted EPS (Rs. 10/- each) Rs.        1.04 Rs.                      (0.91) Rs.        0.73 Rs.     (1.72) Rs.     (3.47)   
13
 Aggregate of non promoter shareholding:
-- No. of Shares 850312 850312 850312 850312 850312
  --Percentage of Shareholding 24.71 24.71 24.71 24.71 24.71
Notes :-
1)
 The   above  results  were taken on record by the Board at its Meeting held on 30.01.2004.
2)
 Provision for taxation, if any will be made at the end of the year.
3)
 Investor Complaints:
Beginning of the quarter          Received during the           Disposed off Lying unresolved at the
                   quarter        during the quarter end of the quarter
NIL
2
2
 NIL
4)
 The Working results for the quarter ended 31st December, 2003 are subject to limited review by the Statutory
Auditors.
5)
 The company earned major part of the income from the trading in shares.  The Board of Directors reviewed the present
  state of its Money Changing and Money Transfer Services and have decided to explore all options including exit, in view of
inadequate profits / losses from respective segments.
6)
 During the quarter under review , the company has discontinued the business of money changing at 8 branches
7)
 The statutory auditors in their report on the accounts for the year 2002-03 have commented as under :-
a) Non confirmation of debtors, creditors, Loans and Advances.
b) Additional provision for doubtful debts Rs. 60.45 lacs against debtors.
c) Necessity of provision for dimunation in value of investment amounting to Rs. 12.58 lacs in one of the Group Company
under the same management to comply with AS 13 - Accounting on Investment.
Comment:
a) Confirmations from debtors, creditors are in process.
b) On additional provision for doubtful debts :
 The company has recovered Rs. 39.21 Lacs during the quarter under review.Out of the balance amount of Rs. 21.24 Lacs
a provision of Rs. 11 Lacs made during the quarter and the company is hopeful of recovering the balance amount.
c) Regarding investment in group company.
The company does not consider the erosion in value as permanent & hence no provision is made.
8)
 Fixed assets used or liabilities contracted have not been identifiable to either of the segments specifically as the same
are interchangeable.
9)
 Previous period figures have been regrouped wherever necessary.
                           For Nucleus Securities Limited
 
Mumbai,                                                Asit C. Mehta
January 30, 2004.                            Chairman and Managing Director