FINANCIAL INFORMATION

UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND PERIOD ENDED 31ST DECEMBER 2008

HMT LIMITED
No.59, Bellary Road, Bangalore - 560 032

UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND PERIOD ENDED 31ST DECEMBER 2008
(Rs. lakhs)
Sl.No.
Three Months ended
December 31,
Nine Months ended December 31, Year Ended March 31,
2008 Unaudited *
2007 Unaudited *
2008 Unaudited *
2007 Unaudited *
 2008 Audited
1 a) Net Sales (including Excise Duty)/
Income from Operations
 2970
3621
 10890
12297
17108
 

b) Other Operating Income

-

 - -

 - -
 

Total Income (1 + 2)

2970

 3621 10890

 12297 17108
2 Total Expenditure
a) (Increase)/decrease in SIT/WIP
b) Consumption of raw materials
c) Purchase of traded goods
d) Employee cost
e) Depreciation
f) Other expenditure

g) Total		 (377)
2396
-
1680
91
712
4502 
305
2311
-
1540
74
1046 
5276 
(633)
8266
-
5038
271
2434
15376 
(1001)
9281
-
4633
271
2894 
16078 
(2042)
14065
-
6472
299
3780
22574
3 Profits from Operations before other Income, Interest and Exceptional items (1-2)
 (1532) (1655) (4486) (3781) (5466)
4 Other Income
 169 160 638 895 1267
5 Profits from Operations before Interest and Exceptional items (3+4)
 (1363) (1495) (3848) (2886) (4199)
6 Interest
333 13 630 (132) 131
7 Profits from Operations after Interest but before Exceptional items (5-6)
 (1696) (1508) (4478) (2754) (4330)
8 Exceptional Items
- - - - -
9 Profit/(Loss) from Ordinary Activities before Tax (7+8)
(1696) (1508) (4478) (2754) (4330)
10



11
 Tax Expenses - Deferred Tax
                         - Fringe Benefit Tax(FBT)


Net Profit/(Loss) from Ordinary Activities after Tax (9 - 10)
-
6
(1702)
-
12
(1520)
-
17
(4495)
-
24
(2778)
(154)
23
(4199)
12




13		 Extra Ordinary items (net of tax expenses)
Prior Period Adjustments - Expenses
VRS Compensation written off


Net Profit/(Loss) for the period (11-12)
  
(1)
24
(1725)
 
1
54
(1575)
 
2
78
(4575)
 
49
163
(2990)
 
51
217
(4467)
14 a) Paid-up Equity Share Capital
(Face Value - Rs.10/-)
b)Share Application Money
 76035

44300		 76035

44300		 76035

44300		 76035

44300		 76035

44300
15

Reserves excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year

-

 - -

 - -
16

Earnings per Share (EPS)
a) Basic/Diluted EPS before Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
b) Basic / Diluted EPS after Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
(0.22)

(0.23)
(0.27)

(0.28)
(0.59)

(0.60)
(0.49)

(0.52)
(0.68)

(0.72)
17

Public Shareholding
- Number of Shares
- Percentage of Shareholding
8496400
1.12
8496400
1.12
8496400
1.12
8496400
1.12
8496400
1.12

Note:

1) The above Results were approved by the Board at its Meeting held on January 24, 2009.

2) The Company is engaged in manufacture of only one major product i.e. Tractors. Hence Segment Reporting as per AS-17 is not applicable.

3) With regard to the observations of the Auditors in their report on the Annual Accounts for the year 2007-08 on non provision of doubful debts and non provision of loss in value of investments and Loans & Advances in Subsidiaries, the Company is of the view that the need for making such provisions will be reviewed at the end of current financial year 2008-09.

4) No pending investor complaints as on 1st October 2008. One investor complaint was received and resolved during the quarter.

 

* Limited Review has been conducted by the Auditors

Place: New Delhi
Date : January 24, 2009.

 By Order of the Board      



(A.V. Kamat)               
Chairman and Managing Director

UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2008

HMT LIMITED
No.59, Bellary Road, Bangalore - 560 032

UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2008
(Rs. lakhs)
Sl.No. 3 Months ended
30.09.2008 Unaudited *		 Corresponding 3 Months ended in the Previous Year 30,09.2007 Unaudited * Year to date figures for current period ended
30.09.2008 Unaudited *		 Year to date figures for the previous year ended
30.09.2007 Unaudited *		 Previous Accounting Year ended
31.03.2008 Audited
1 a) Net Sales (including Excise Duty)/
Income from Operations
 5286
 6327
 2634
2349
17108
 

b) Other Operating Income

-

 - -

 - -
 

Total Income (1 + 2)

5286

 6327 7920

 8676 17108
2 Total Expenditure
a) (Increase)/decrease in SIT/WIP
b) Consumption of raw materials
c) Purchase of traded goods
d) Employee cost
e) Depreciation
f) Other expenditure

g) Total		 2555
1948
-
1668
87
755
7013 
885
3687
-
1537
90
1026 
7225 
(256)
5870
-
3358
180
1722
10874 
(1306)
6970
-
3093
197
1848 
10802 
(2042)
14065
-
6472
299
3780
22574
3 Profits from Operations before other Income, Interest and Exceptional items (1-2)
 (1727) (898) (2954) (2126) (5466)
4 Other Income
 223 478 469 735 1267
5 Profits from Operations before Interest and Exceptional items (3+4)
 (1504) (420) (2485) (1391) (4199)
6 Interest
220 (166) 297 (145) 131
7 Profits from Operations after Interest but before Exceptional items (5-6)
 (1724) (254) (2782) (1246) (4330)
8 Exceptional Items
- - - - -
9 Profit/(Loss) from Ordinary Activities before Tax (7+8)
(1724) (254) (2782) (1246) (4330)
10



11
 Tax Expenses - Deferred Tax
                         - Fringe Benefit Tax(FBT)


Net Profit/(Loss) from Ordinary Activities after Tax (9 - 10)
-
5
(1729)
-
6
(260)
-
11
(2793)
-
12
(1258)
(154)
23
(4199)
12




13		 Extra Ordinary items (net of tax expenses)
Prior Period Adjustments - Expenses
VRS Compensation written off


Net Profit/(Loss) for the period (11-12)
  
2
24
(1755)
 
9
55
(324)
 
3
54
(2850)
 
48
109
(1415)
 
51
217
(4467)
14 a) Paid-up Equity Share Capital
(Face Value - Rs.10/-)
b)Share Application Money
 76035

44300		 51790

68545		 76035

44300		 51790

68545		 76035

44300
15

Reserves excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year

-

 - -

 - -
16

Earnings per Share (EPS)
a) Basic/Diluted EPS before Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
b) Basic / Diluted EPS after Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
(0.23)

(0.23)
(0.05)

(0.06)
(0.37)

(0.37)
(0.24)

(0.27)
(0.68)

(0.72)
17

Public Shareholding
- Number of Shares
- Percentage of Shareholding
8496400
1.12
8496400
1.64
8496400
1.12
8496400
1.64
8496400
1.12

Note:

1) The above Results were approved by the Board at its Meeting held on October 23, 2008.

2) The Company is engaged in manufacture of only one major product i.e. Tractors. Hence Segment Reporting as per AS-17 is not applicable.

3) With regard to the observations of the Auditors in their report on the Annual Accounts for the year 2007-08 on non provision of doubful debts and non provision of loss in value of investments and Loans & Advances in Subsidiaries, the Company is of the view that the need for making such provisions will be reviewed at the end of current financial year 2008-09.

4) No pending investor complaints as on 1st July 2008. One investor complaint was received and resolved during the quarter.

 

* Limited Review has been conducted by the Auditors

Place: New Delhi
Date : October 23, 2008.

 By Order of the Board      



(A.V. Kamat)               
Chairman and Managing Director
 

UNAUDITED FINANCIAL RESULTS (PROVISIONAL)
FOR THREE MONTHS ENDED 30TH JUNE 2008

HMT LIMITED
No.59, Bellary Road, Bangalore - 560 032

UNAUDITED FINANCIAL RESULTS (PROVISIONAL)
FOR THREE MONTHS ENDED 30TH JUNE 2008
(Rs. lakhs)
Sl.No. 3 Months ended
30.06.2008 *		 Corresponding 3 Months in the Previous Year * Accounting Year ended
31.03.2008 *
1 Net Sales (including Excise Duty)/
Income from Operations
 2634
2349
17108
2

Other Income

246

 257 1267
3

Total Income (1 + 2)

2880

 2606 18375
4 Total Expenditure
a) (Increase)/decrease in SIT/WIP
b) Consumption of raw materials
c) Employee cost
d) Depreciation
e) Other expenditure

f) Total		 (2811)
3922
1690
93
967
3861 
(2191)
3283
1556
107
822 
3577 
(2042)
14065
6472
299
3780
22574
5 Interest
(77) 21 131
6 Exceptional Items
- - -
7 Profit/(Loss) from Ordinary Activities before Tax (3) - (4+5+6)
(1058) (992) (4330)
8




9		 Tax Expenses - Current Tax
                         - Deferred Tax
                         - Fringe Benefit Tax(FBT)


Profit/(Loss) from Ordinary Activities after Tax (7) - (8)
-
-
6
(1064)
-
-
6
(998)
-
(154)
23
(4199)
10




11		 Extra Ordinary items (net of tax expenses)
Prior Period Adjustments - Expenses
VRS Compensation written off @


Profit/(Loss) for the period (9-10)
  
1
30
(1095)
 
39
54
(1091)
 
51
217
(4467)
12 a) Paid-up Equity Share Capital
(Face Value - Rs.10/-)
b)Share Application Money     #
 76035

44300		 51565

68770		 76035

44300
13

Reserves excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year

-

 - -
14

Earnings per Share (EPS)
a) Basic/Diluted EPS before Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
b) Basic / Diluted EPS after Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
(0.14)

(0.14)
(0.19)

(0.21)
(0.68)

(0.72)
15

Public Shareholding
- Number of Shares
- Percentage of Shareholding
8496400
1.12
8496400
1.65
8496400
1.12

Note:

1) The above Results were approved by the Board at its Meeting held on July 30, 2008.

2) The Company is engaged in manufacture of only one major product i.e. Tractors. Hence Segment Reporting as per AS-17 is not applicable.

3) With regard to the observations of the Auditors in their report on the Annual Accounts for the year 2007-08 on non provision of doubful debts and non provision of loss in value of investments and Loans & Advances in Subsidiaries, the Company is of the view that the need for making such provisions will be reviewed at the end of current financial year 2008-09.

 4) No pending investor complaints as on 1st April 2008. One investor complaint was received and resolved during the quarter.

 

* Limited Review has been conducted by the Auditors

* Subject to review by C&AG.

Place: Bangalore
Date : 30th July 2008.

 By Order of the Board      



(A.V. Kamat)               
Chairman and Managing Director

 

AUDITED FINANCIAL RESULTS
FOR THE YEAR ENDED 31ST MARCH 2008

HMT LIMITED
No.59, Bellary Road, Bangalore - 560 032

AUDITED FINANCIAL RESULTS
FOR THE YEAR ENDED 31ST MARCH 2008
(Rs. lakhs)
Sl.No.
Standalone
Consolidated
Accounting Year ended
31.03.2008 *		 Accounting Year ended 31.03.2007
Accounting Year ended
31.03.2008 *		 Accounting Year ended 31.03.2007
1 Net Sales (including Excise Duty)/
Income from Operations
 17108
 22729
48164
57945
2

Other Income

1267 2358

 3725 6767
3

Total Income (1 + 2)

18375 25087

 51889 64712
4 Total Expenditure  
a) (Increase)/decrease in SIT/WIP
b) Consumption of raw materials
c) Employee cost
d) Depreciation
e) Other expenditure


f) Total		 (2042)
14065
6472
299
3780
22574
 645
15125
6106
321
4874
27071
 (1228)
25266
26834
976
13295
65143
 2536
28744
27153
1088
15819
75340
5 Interest
131 (409) 10662 12882
6 Exceptional Items
- - - -
7 Profit/(Loss) from Ordinary Activities before Tax (3) - (4+5+6)
(4330) (1575) (23916) (23510)
8




9		 Tax Expenses - Current Tax
                         - Deferred Tax
                         - Fringe Benefit Tax(FBT)


Profit/(Loss) from Ordinary Activities after Tax (7) - (8)
-
(154)
23
(4199)
 -
(1406)
24
(193)
 11
74
104
(24105)
 22
(1371)
104
(22265)
10






11		 Extra Ordinary items (net of tax expenses)
Prior Period Adjustments - Expenses
Extra Ordinary Items - Income
Waiver of Interest by GOI
VRS Compensation written off @


Profit/(Loss) for the period (9-10)
  
51
 
-
217
(4467)
  
(13)
9100
-
3490
5430
 
219
 
-
5779
(30103)
 
95
 21801
3911
27859
(24507)
12 a) Paid-up Equity Share Capital
(Face Value - Rs.10/-)
b)Share Application Money     #
 76035

44300		 51565

68770		 76035

44300		 51565

68770
13

Reserves excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year

- -

 - -
14

Earnings per Share (EPS)
a) Basic/Diluted EPS before Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
b) Basic / Diluted EPS after Extra Ordinary Items for the period, for the year to date and for the previous year (not to be annualised)
(0.68)

(0.72)
(0.04)

1.09
(3.89)

(4.86)
(4.49)

(4.94)
15

Public Shareholding
- Number of Shares
- Percentage of Shareholding
8496400
1.12
8496400
1.65
8496400
1.12
8496400
1.65

Note:

1) The above Results were approved by the Board at its Meeting held on June 30, 2008.

2) On Standalone basis, the Company is engaged in manufacture of only one major product i.e. Tractors, hence Segment Reporting as per AS-17 is not applicable.

3) Consolidated Results have been prepared in accordance with AS-21 on Consolidated Financial Statements

4) In pursuance of the BIFR Order dated 13.6.2008, Praga Tools Ltd(PTL), a Subsidiary. stands merged with HMT Machine Tools Ltd, another Subsidiary, w.e.f. 1.4.2007. Pending implementation of Scheme of Merger, the Financial Statements of PTL have been taken on standalone basis for consolidation purpose, this year.

5) Extraordinary items represent profit on sale of Land.

6) The Auditors in their Report on the Annual Accounts for the year 2007-08 have observed that the Company has not made provision for doubtful debts for Rs.13.16 Crores which are more than five years. Auditors have also observed that in respect of three Subsidiaries, no provision is made for the loss in the value of investments and Loans & Advances made in the Subsidiaries due to erosion of their Net Worth, but the Company is of the view that the debtors which are more than 5 years are realisable and the market value of the assets of the Subsidiaries are more than the amount invested/advanced by the Company and hence realisable.

7) No pending investors complaints as on 1st January 2008. Three investor complaints were received and resolved during the quarter.

* Subject to review by C&AG.

@ Additional impact of Rs.2735 lakhs (Standalone) Rs.21534 Lakhs (Consolidated) during 2006-07 due to change in Accounting Policy in compliance with AS-15 (Revised) on write off of VRS Compensation by 1/5th instead of 1/10th. During 2007-08, due to charging off the full VRS Compensation in the year of expenditure, the additional impact is Rs.3913 lakhs (Consolidated).

** Received from GOI during 2006-07 (includes Rs.24245 lakhs towards Equity Share Capital and Rs.44300 lakhs towards Preference Share Capital.)

Place: Bangalore
Date : 30th June 2008.

 By Order of the Board      



(A.V. Kamat)               
Chairman and Managing Director