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NUCLEUS SECURITIES LIMTIED
Regd. Office : `Nucleus House', Saki-Vihar Road, Andheri (East), Mumbai
400072
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| Unaudited Financial Results (Provisional)
for the quarter ended 30th June, 2004 |
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| AND Audited Financial results for the year ended
31st March, 2004 |
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(Rs in lacs) |
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| Sr. |
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Quarter Ended |
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Year Ended |
Year Ended |
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| No. |
Particulars |
30.6.2004 |
30.06.2003 |
31.03. 2004 |
31.03.2003 |
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(Unaudited) |
(Unaudited) |
(Audited) |
(Audited) |
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| 1 |
Net Sales /Income from Operations:- |
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-- Money Changing Division |
1.21 |
29.19 |
74.31 |
193.63 |
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-- Money Transfer |
3.82 |
12.92 |
49.58 |
61.32 |
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34832272235 |
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-- Arbitrage Income |
50.5 |
- |
234.94 |
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34808778411 |
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55.53 |
42.11 |
358.83 |
254.95 |
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23493824 |
| 2 |
Other Income |
8.82 |
6.34 |
46.96 |
51.40
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| 3 |
Total Expenditure |
33.14 |
47.93 |
367.59 |
359.09 |
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a) Increase/decrease in stock
in trade |
-
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- |
- |
- |
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b) Staff Cost |
9.16 |
20.26 |
78.89 |
95.14 |
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c) Other Expenditure |
23.97 |
27.67 |
238.62
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195.71 |
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d) Bad Debts |
-
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- |
50.08 |
68.24 |
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| 4 |
Interest (Net) |
3.01 |
7.03 |
28.43 |
37.03 |
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| 5 |
Depreciation |
4.91 |
4.94 |
19.72 |
20.75 |
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| 6 |
Profit(+)/Loss(-)Before Tax (1+2-3-4) |
23.29 |
(11.45) |
(9.95) |
(110.52) |
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| 7 |
Extra-ordinary Income (see note 4 ) |
118.14 |
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- |
- |
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| 8 |
Provision for Taxation (See Note 2) |
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- |
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141.43 |
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- Current |
(8.00) |
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- Deferred |
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23.40 |
(8.85) |
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| 9 |
Net Profit (+) / Loss (-) (5+6-7) |
133.43 |
(11.45) |
13.45 |
(119.37) |
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-40.47 |
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| 10 |
Paid-up Equity Share
Capital (F.V. Rs.10/- each) |
344.08
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344.08 |
344.08 |
344.08
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100.96 |
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| 11 |
Reserves excluding Revaluation reserves |
-
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423.58 |
428.37
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7.57 |
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| 12 |
Debit balance in Profit & Loss account |
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156.63 |
170.54
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| 13 |
Basic and diluted EPS (Rs.10/- each) |
3.88 |
(0.33) |
0.39 |
(3.47) |
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| 14 |
Aggregate of non-promoter Shareholding : |
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- No. of Shares |
850,312 |
850,312
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850,312
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850,312
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- Percentage of Shareholding |
24.71 |
24.71 |
24.71 |
24.71 |
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| Notes
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| 1) |
The above audited and
unaudited results were taken on
record by the Board at its Meeting held on 29.07.2004. |
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| 2) |
Provision for taxation
is made as per MAT for the quarter ended June'04 and deferred tax liability/asset
will be |
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recognised at the year end. |
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| 3) |
Investor
Complaints: There were no investor complaints pending at the beginning of
the quarter, received during |
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the quarter and pending
for disposal at the end of quarter. |
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| 4) |
During the quarter ended
June'04, the Company has written back certain liabilities of Rs.118.14 lacs
no longer |
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required and which has
been credited to the Profit And Loss Account and is exceptional in nature. |
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| 5) |
The Working results for
the quarter ended 30th June, 2004 are subject to review by the statutory
auditors. |
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| 6) |
During the quarter, the
businesses of Money Changing and Money Transfer were discontinued. |
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| 7) |
Previous period figures
have been regrouped/reclassified wherever necessary. |
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| 8) |
The post publication of
unaudited results for the quarter ended 31/3/2004 a 'Goodwill' has been
amortised which |
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has resulted in increase
in expenses. Consequently, the audited results for the year ended 31.03.2004
vary to |
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that extent from the unaudited figures. |
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For Nucleus Securities Limited |
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| Mumbai, |
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Asit C. Mehta |
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| 29th
July, 2004. |
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Chairman & Managing Director |
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| 5) |
The statutory auditors
in their report on the accounts for the year 2002-03 have commented as under
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a) Non confirmation of
debtors, creditors, Loans and Advances. |
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b) Additional provision
for doubtful debts Rs. 60.45 lacs against debtors. |
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c)
Necessity of provision for dimunation in value of investment amounting to
Rs. 12.58 lacs in one of the |
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group company under the
same management to comply with AS 13 - Accounting on Investment. |
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Comment: |
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a) Confirmations from
debtors, creditors are in process. |
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b) On additional provision
for doubtful debts : |
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The company has taken
necessary action, to recover the outstanding balance from debtors. |
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The company is confident
in recovering the amount involved. |
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c) Regarding investment in group company. |
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The company does not consider
the erosion in value as permanent & hence no provision is made. |
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| 6) |
Fixed
assets used or liabilities contracted have not been identifiable to either
of the segments |
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specifically as the same
are interchangeable. |
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| 7) |
Previous period figures
have been regrouped wherever necessary. |
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For Nucleus Securities
Limited |
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| Mumbai, |
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Asit
C. Mehta |
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| 31st
July, 2003 |
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Chairman and Managing
Director |
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