Fine-Line Circuits Limited -- Financials

FINE - LINE CIRCUITS LIMITED
REGD. OFFICE : 145 SDF - V, SEEPZ, ANDHERI (EAST), MUMBAI - 400 096.

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2004
												(Rs in Lacs)
Sr.	Particulars							Unaudited Results for			Audited Results for
No.		30.06.2002		30.09.2002				Nine months	Three months	Three months	Accounting	Accounting
			%		%			Ended	Ended	Ended	Year Ended	Year Ended
		(Unaudited)		(Unaudited)				31.12.2003	31.03.2004	31.03.2003	31.03.2004	31.03.2003
1	Net Sales / Income from Operation
2	Exports	298.17	99%	385.68	99%	683.85		1172.79	431.84	325.28	1604.63	1317.11
3	Domestic							24.05	7.51	4.28	31.56	20.85
4	Other Income	1.90	1%	4.94	1%	6.84		7.13	0.59	0.46	7.72	9.60
5	Total Revenue	300.07	100%	390.62	100%	690.69		1203.97	439.94	330.02	1643.91	1347.56
6	Total Expenditure
	(a) (Increase)/Decrease in Stock-in-trade	28.61	10%	13.78	4%	42.39		-16.20	-6.58	0.14	-22.78	32.61
	(b) Consumption of Raw Material, Chemicals	127.54	43%	129.93	33%	257.47		536.28	206.85	151.13	743.13	544.71
	and Consumables
	(c) Staff Cost	31.40	10%	36.12	9%	67.52		158.11	33.19	42.74	191.30	141.09
	(d) Other Expenditure :
	(i) Others	82.28	27%	163.80	42%	246.08		355.05	149.50	98.74	504.55	456.53
		269.83	90%	343.63	88%	613.46		1033.24	382.96	292.75	1416.20	1174.94
7	Profit before Depreciation, Interest and Tax	30.24	170%	46.99	172%	77.23		170.73	56.98	37.27	227.71	172.62
8	Interest	0		0.00		0.00		0.00	0.00	0.17	0.00	0.00
9	Depreciation	27.00	288%	30.59	302%	57.59		103.63	46.59	15.67	150.22	118.16
10	Profit before Tax	3.24	575%	16.40	605%	19.64		67.10	10.39	21.43	77.49	54.46
11	Provision for Taxation : Current	0		10.63		10.63		27.92	7.66	8.59	35.58	30.00
	Deferred	0		6.31		6.31		-6.27	-9.06	-6.09	-15.33	-16.83
12	Profit after Tax	3.24	1033%	-0.54	1079%	2.70		45.45	11.79	18.93	57.24	41.29
	Excess/ (Short) provision for tax of earlier years	-2.00	1896%	-2.00	1986%	-4.00		0.00	0.00	0.00	0.00	-10.26
13	Profit for the period	5.24	3792%	1.46	3973%	-1.30		45.45	11.79	18.93	57.24	31.03

14	Paid-up Equity Share Capital							486.12	483.61	539.26	483.61	539.26
	(Face Value Rs.10)
15	Reserve Excluding Revaluation Reserve							-	-	-	345.55	268.56
16	Earnings Per Share (Re.)
	Basic & diluted earning per share (Not Annualised)							0.93	0.22	0.35	1.13	0.77
	Aggregate of Non Promoter Shareholding
	- No of Shares							3094855	3075586	3575900	3075586	3575900
	- Percentage of Shareholding							63.59%	63.84%	66.31%	63.84%	66.31%

1	The company has business in only one segment ( i.e. Printed Circuit Boards )
2	Due to technology obsolecense the company has changed the method of providing depreciation on its fixed assets other than
	plant & machinery from Straight Line Method to Written Down Value Method with effects from 1st April, 2003.
	In compliance with the Accounting Standard (AS-6), issued by the Istitute of Chartered Accountants of India, depreciation
	has been re-computed from the date of commissioning of these assets at WDV rates. Consequent to this change, there is an
	additional charge of depreciation during the year of Rs. 1,171,073, which relates to the previous years and Rs. 365,503 for the
	current year.
	Consequently, the net block of fixed assets and balance in Profit & Loss A/C is lower by Rs. 1,536,576.
	The depreciation includes depreciation charge of High Technology Multilayer Unit which commenced
	commercial production on 1st Sept. 2003
3	The Company has bought back 5,75,214 shares upto 31.03.2004 under the buyback scheme opted by the Company.
4	The Company has tranferred Rs. 5,752,140 from retained profit to Capital Redemption Reserve in respect of shares bought back.
5	Previous years figures have been recast wherever necessary.
6	Information on investor complaints for the quarter ended 31st March, 2004, pursuant to amended clause 41 of the listing agreement.
	Opening Number	Addition	Disposal		Closing Number		Addition	Disposal		Closing Number
	0	14	14		0			1		2
7	The above audited results were reviewed by the Audit Committee and taken on record at the meeting
	of the Board of Directors of the Company held on 25th June, 2004.

									By order of the Board


	Place : Mumbai								ABHAY B. DOSHI
	Date : 25th June,2004								Managing Director