NUCLEUS SECURITIES LIMITED
Regd. Office :  Nucleus House, Saki-Vihar Rd., Andheri (E), Mumbai - 400 072
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH,2005
						(Rs.in lacs)
Sr.		Nine months	Quarter	Quarter	Year	Year
No.	Particulars	ended	ended	ended	ended	ended
		31.12.2004	31.03.2005	31.03.2004	31.03.2005	31.03.2004
		(unaudited)	(unaudited)	(Unaudited)	(Audited)	(Audited)
1	Net Sales /Income from Operations:-
	-- Money Changing Division	1.66	(0.33)	12.60	1.33	74.31
	-- Money Transfer	3.82	-	9.71	3.82	49.58
	-- Arbitrage Income	111.36	5.93	76.97	117.29	234.94															Write Back of TC Liability			118		118
	-- Portfolio Management Service	-	0.10	-	0.10	-
		116.84	5.70	99.28	122.54	358.83
2	Other Income	155.99	11.38	26.94	167.37	46.96			#REF!	#REF!											Rent Income			35.64		26.46
3	Total Expenditure	97.39	9.17	113.90	106.56	367.59
	a)   Increase/decrease in stock in trade	-	-	-	-	-																		153.64		144.46
	b)   Staff Cost	20.21	3.81	21.41	24.02	78.89			2402259
	c)   Other Expenditure	35.78	5.36	92.49	41.14	158.25				13877763
	d)   Bad Debts	2.66	-	-	2.66	50.08			266109		5430724.00										Bank Interest			11		3.73
	e)   Arbitrage  Expenses	38.74	-	-	38.74	80.37			3873837
4	Interest (Net)	4.22	0.11	3.73	4.33	28.43			433000												Admin exp			30		75.16
5	Depreciation	12.36	17.23	4.13	29.59	19.72			1471834
6	Profit(+)/Loss(-)Before Tax	158.86	-9.43	4.46	149.43	-9.95			8447039.00												Book Dep			18		12.36		153.64
7	Provision for Taxation:	--	--	--	--	--																						153.64
	- Current	11.00	(2.50)	2.00	8.50	-																Book profit		#REF!		#REF!		18
	- Deferred	25.62	(35.56)	-	(9.94)	23.40																						-31									obc	2525000
8	Net Profit (+) / Loss (-)	122.24	28.63	2.46	150.87	13.45																						140.64									napl	1725000
9	Paid-up Equity Share Capital (F.V. Rs.10/-)	344.08	344.08	344.08	344.08	344.08																94.64				71.06											nsl	3172120
10	Reserves excluding Revaluation reserves	--	--	--	--	423.58																18				12.36
11	Debit balance in Profit & Loss account	--	--	--	5.75	156.63															IT Dep	-31				-23.25												7422120
12	Basic and diluted EPS (Rs.10/- each)	Rs     3.55	Rs     0.83	Rs     0.07	Rs     4.38	Rs.  0.40																				60.17
13	Aggregate of non-promoter Shareholding :								#DIV/0!													81.64
	- No. of Shares	850312	850312	850312	850312	850312																				22.02			0.875
	- Percentage of Shareholding	24.71	24.71	24.71	24.71	24.71																29.72512							0.7175
																													35
	SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED								6.56
				(Rs in Lacs)					4.82
Sr.	PARTICULARS		Year Ended	Year Ended					11.38
No.			31.3.2005	31.3.2004
1	SEGMENT REVENUE
	Money Changing		1.33	74.31
	Money Transfer		3.82	49.58
	Arbitrage activities		117.29	234.94
	Portfolio Management		0.10	-
	Other (including unallocable)		167.37	46.96
		Total	289.91	405.79
2	SEGMENT RESULTS
	Money Changing		(3.81)	(145.88)
	Money Transfer		3.01	18.21
	Arbitrage activities		78.55	154.56
	Portfolio Management		(4.44)	-
	Others (including unallocable)		76.12	(16.94)
		Total	149.43	(9.95)
3	CAPITAL EMPLOYED
	Money Changing		-	-
	Money Transfer		-	-
	Arbitrage activities		-	-
	Portfolio Management		3.53
	Others (including unallocable)		758.38	982.10
		Total	761.91	982.10
	Notes:
	1. The above results were taken on record by the Board of Directors' at the meeting held on 30.6.2005
	2. The Auditors have qualified in their report on the accounts for the year ended 31st march, 2005  in
	respect of the deferred tax credit of Rs 39.79 lacs.  The company has netted out  the  deferred tax
	working (deferred tax liability minus deferred tax asset) as the major component giving rise to such
	deferred tax asset and liability is on account of depreciation.  The deferred tax liability cannot
	crystalise without set-off of the deferred tax asset.  The Company is hopeful of realisation of the
	deferred tax asset in the forseeble future.
	3.  Investor complaints
	Beginning of the quarter	Received	Disposed	Lying unresolved
		during the	off during	at the end of
		quarter	the quarter	the Quarter
	Nil	2	2	Nil
	4.  The Company had discontinued Money Changing, Money Transfer and arbitrage business.  The
	company has only one segment of "Portfolio Management Services'.
			For Nucleus Securities Ltd.
	Mumbai		Asit C. Mehta
	June 30, 2005.		Managing Director