SAMTEL COLOR LIMITED

Regd. Office : 6th Floor, TDI Centre, District Centre - Jasola, New Delhi - 110025

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2011 ( Rs. in Lacs )
CONSOLIDATED
Quarter Quarter Year Year Year Year
Particulars Ended Ended Ended Ended Ended Ended
31-03-2011 31-03-2010 31-03-2011 31-03-2010 31-03-2011 31-03-2010
Unaudited Unaudited Audited Audited Audited Audited

1 (a) Net Sales / Income from Operations 15,300 26,929 89,626 111,429 89,626 111,429
(b) Other Operating Income 164 249 872 944 872 944
2 Expenditure
a. (Increase)/Decrease in Stock in trade and work in progress 24 (417) 1,408 700 1,408 700
b. Consumption of raw material 11,282 18,417 62,896 75,797 62,896 75,797
c. Purchase of traded goods - - - - - -
d. Employees cost 2,138 2,654 10,101 10,023 10,101 10,023
e. Depreciation - (refer note 2 (iii) below) 2,321 1,549 6,876 6,289 6,876 6,289
f. Other expenditure 2,409 3,818 13,292 16,186 13,292 16,186
g. Total 18,174 26,021 94,573 108,995 94,573 108,995
3 Profit (+)/Loss (-) from Operations before Other Income, Interest (2,710) 1,157 (4,075) 3,378 (4,075) 3,378
and Exceptional Items (1 - 2)
4 Other Income 753 387 854 1,037 854 1,037
5 Profit (+)/Loss (-) before Interest and Exceptional Items (3 + 4) (1,957) 1,544 (3,221) 4,415 (3,221) 4,415
6 Interest ( Net ) 546 766 2,638 3,155 2,638 3,155
7 Profit (+)/Loss (-) after Interest but before Exceptional (2,503) 778 (5,859) 1,260 (5,859) 1,260
Items (5 - 6)
8 Exceptional Items - Devaluation / Impairment loss in respect of (2,472) - (2,472) 6,390 (2,472) 6,390
Plant and Machinery -(refer note 2 below)
9 Profit (+)/Loss (-) from Ordinary Activities
before tax (7+ 8) (4,975) 778 (8,331) 7,650 (8,331) 7,650
10 Tax expense of earlier years 41 4 61 4 61 5
11 Net Profit (+) / Loss (-) from Ordinary Activities after tax (9 - 10) (5,016) 774 (8,392) 7,646 (8,392) 7,645
12 Extraordinary items - - - - - -
13 Net Profit (+)/Loss (-) for the period (11 - 12) (5,016) 774 (8,392) 7,646 (8,392) 7,645
14 Share of Profit (+) / Loss (-) of Associate Company 114 62
15 Net Profit (+) / Loss (-) after share of Associate Company (13-14) (8,278) 7,707
16 Paid-up Equity Share Capital (Face value Rs.10 each share) 8,550 5,360 8,550 5,360 8,460 5,270
17 Reserves (excluding revaluation reserves as per balance sheet of - - 7,011 11,111 7,011 10,091
previous accounting year)
18 Earnings Per Share
before and after Extraordinary items
Basic Earnings / (loss) Per Share (not annualised) (6.59) 0.42 (11.43) 8.53 (11.41) 8.69
Diluted Earnings / (loss) Per Share (not annualised) (6.59) 0.36 (11.43) 7.46 (11.41) 7.59
19 Public Shareholding
- Number of Shares 60,816,877 27,002,633 60,816,877 27,002,633 60,816,877 27,002,633
- Percentage of Shareholding 71.14 50.39 71.14 50.39 71.89 51.24
20 Promoters and promoter group Shareholding
a. Pledged / Encumbered
- Number of Shares 21,035,326 18,600,442 21,035,326 18,600,442 20,142,326 17,707,442
- Percentage of Shares (as a % of the total shareholding of 85.25 69.96 85.25 69.96 84.69 68.91
promoter and promoter group)
- Percentage of Shares (as a % of the total share capital of the 24.60 34.71 24.60 34.71 23.81 33.60
Company)
b. Non - encumbered
- Number of Shares 3,640,394 7,987,691 3,640,394 7,987,691 3,640,394 7,987,691
- Percentage of Shares (as a % of the total shareholding of 14.75 30.04 14.75 30.04 15.31 31.09
promoter and promoter group)
- Percentage of Shares (as a % of the total share capital of the 4.26 14.90 4.26 14.90 4.30 15.16
Company)
NOTES :
1 The above financial results were reviewed and recommended by the Audit Committee of Directors and approved by the Board of Directors in their respective meetings held
on April 28, 2011.
2 (i) Exceptional items represents Rs. 6,390 lacs on account of principal and interest waiver by the CDR lenders in the previous year.
(ii) The Company had revalued its Plant and Machinery as on 1st October, 2010 on the basis of existing use value by an independent professional valuer. Accordingly, during
the quarter a sum of Rs.1,013.91 lacs being the excess of the depreciated value of Plant and Machinery over the existing use value, has been charged to the Profit and Loss
Account.

(iii) Depreciation on revalued items of Plant and Machinery is calculated on their respective revalued amounts at rates derived from the remaining useful life of the items as
determined by the valuer on straight line method as against the methods/ rates/ bases which would have otherwise been adopted for the purpose of the annual accounts of
the Company and accordingly, during the quarter includes additional depreciation charge of Rs. 876.93 lacs.

(iv) As the Company does not intend to further pursue the development of „Plasma Display Panel‟ for its primary reportable business segment “ TV Picture Tube and
Parts”, being commercially unviable, it has impaired as on 31.03.2011, the assets being Plant and Machinery used therein to its recoverable amount (net selling price)
on the basis of the valuation of an independent valuer and accordingly, a sum of Rs. 1,457.62 lacs has been charged to the Profit and Loss Account as Impairment
Loss.
3 Other income includes foreign exchange fluctuation gain of Rs. 38 lacs for the quarter ended March 31, 2011 (Rs. 354 lacs for the quarter ended March 31, 2010) and Rs. 909
lacs for the year ended March 31, 2010.
Other expenditure includes foreign exchange fluctuation loss of Rs. 10 lacs for year ended March 31, 2011.

4 Response to Auditors' comments in the report on the audited financial statements as at March 31, 2011 :-

The Company has already filed an application with the Ministry of Corporate Affairs, Government of India seeking their approval for waiver of managerial remuneration
amounting to Rs. 57.65 lacs paid in excess during the year ended 31st March, 2010.

5 There was no unresolved investors' complaints at the beginning of the quarter. Further during the quarter ended March 31, 2011, the Company received 1 complaint which
has been suitably resolved.
6 The Company is engaged in the business of TV Picture Tubes & Parts and there are no separate reportable segments as per AS - 17 on Segment reporting.
7 The consolidation of Samtel Color Limited and its subsidiaries / associates (unaudited) have been done in accordance with the applicable Accounting Standards.
8 Previous year/period figures have been regrouped/recast, wherever necessary, to conform to the current year's classification.

BY ORDER OF THE BOARD

FOR SAMTEL COLOR LIMITED

Place : New Delhi

Dated : 28th April, 2011 SATISH K. KAURA
CHAIRMAN & MANAGING DIRECTOR