GIVO LIMITED
Regd. Office : 42nd Milestone, Kherki Daula, Gurgaon - 122001, Haryana.
UNAUDITED FINANCIAL RESULTS FOR THE 3RD QUARTER  ENDED 31ST DECEMBER, 2009
Rs. in Lacs
Particulars 1.1 1.2 1.3 1.4 1.5
3 months ended 31.12.2009 [Unaudited] 3 months ended 31.12.2008 [Unaudited] Year to date ended               31-12-2009  [Unaudited] Year to date ended                  31-12-2008  [Unaudited] Year   ended  31-03-2009  [Audited)
 
1. Net Sales/Income from Operations                404.43                   522.28                 811.56                   1,594.27             1,817.75
2. Other Operating Income                    6.93                       3.35                   12.08                        10.73                  21.10
3. Total Expenditure                385.34                   485.61                 915.91                   1,463.47             1,673.88
a. Decrease/(Increase) in Stock in trade & WIP                  20.13                     60.86                   (2.60)                        34.73                  49.46
b. Consumption of Raw Materials                175.53                   215.52                 387.81                      675.03                754.60
c. Purchase of Traded Goods                        -                             -                           -                          88.00                  89.18
c. Employees  Cost                126.54                   129.67                 344.74                      354.18                486.85
d. Other expenditure
   - Manufacturing, Administrative, and Selling & Distribution Expenses                  63.14                     79.57                 185.97                      311.53                293.79
   4. Profit (+)/Loss(-) from Operations before interest, deprecation and                          -                                -  
       exceptional Items (1+2-3)                  26.01                     40.02                 (92.28)                      141.53                164.97
5. Interest                    7.11                       9.06                   21.39                        24.46                  34.26
6. Depreciation (subject to Note No.5 below)                  10.71                     67.60                   32.01                      205.00                258.78
7. Profit(+)/Loss(-) before exceptional items and Tax (4-5-6)                    8.20                   (36.65)               (145.68)                       (87.92)              (128.07)
8. Exceptional Items                        -                       (1.41)                   (0.57)                          8.37                  15.55
9. Profit(+)/Loss(-) before from ordinary activities and Tax (7-8)                    8.20                   (35.23)               (145.11)                       (96.29)              (143.62)
10. Extra ordinary Items                     -                       (0.60)               (211.52)                              -                          -  
11. Profit(+)/Loss(-) Before Tax(9-10)                    8.20                   (34.63)                   66.41                       (96.29)              (143.62)
12. Provision for taxation                        -                       15.51                     4.66                          8.54                (43.75)
* Current Tax                           -                           -                            0.39                        -  
* Earlier year's tax                       0.11                         -                          18.43                    2.33
* Fringe Benefit Tax                         -                         0.95                   (0.34)                          2.70                    3.86
* Deferred Tax Expense                        -                       14.45                     5.00                       (12.98)                (49.94)
13. Net Profit (+)/Loss(-) after tax (11-12)                    8.20                   (50.14)                   61.76                     (104.83)                (99.87)
14. Paid-up equity share capital (Face value of equity share is Rs. 3/- each, subject to Note No.4 given below)             1,742.67                5,769.78              1,742.67                   5,769.78             5,769.78
15. Reserves excluding revaluation reserve                        -                             -                           -                                -             (2,660.46)
 16. Basic and diluted EPS 
        Basic EPS                     0.05                     (0.09)                     0.35                         (0.18)                  (0.17)
        Diluted EPS                     0.01                     (0.09)                     0.11                         (0.18)                  (0.17)
17. Aggregate of Non Promoter Shareholding
----- Number of shares          20,675,700            20,675,700          20,675,700             206,775,700         20,675,700
----- Percentage of Shareholding 35.83% 35.83% 35.83% 35.83% 35.83%
18. Promoters and Promoter Group Shareholding
a) Pledged/Encumbered
:-Number of Shares NIL NIL NIL NIL NIL
:-Percentage of Shares (as a % of the total shareholding of 
promoter and promoter group) NIL NIL NIL NIL NIL
:-Percentage of Shares (as a % of the total share capital of the company) NIL NIL NIL NIL NIL
b) Non-encumbered
:-Number of Shares 37022100 37022100 37022100 37022100 37022100
:-Percentage of Shares (as a % of the total shareholding of 
promoter and promoter group) 100% 100% 100% 100% 100%
:-Percentage of Shares (as a % of the total share capital of the company) 64.17% 64.17% 64.17% 63.91% 64.17%
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NOTES:
1.  The above unaudited results have undergone "Limited Review" by the Statutory Auditors of the Company, reviewed by the Audit Committee of the Board, and  taken on record by the Board of Directors in their meeting held on 30th January, 2010.
2. Since the Company's main business  is seasonal in nature, the Company for the purposes of interim results accounted for in Quarter-1, off season expenditure of Rs.55.47 Lacs (Previous Year Rs.18.55 Lacs) on "Integral Approach" basis for inclusion in the cost of production in subsequent period of the year. However, in view of market situation there is uncertainty with respect to the possibility that the Company will be able to absorb the carried forward off season expenses in the subsequent period of the year. Accordingly, the amount of Rs.55.47 Lacs (Previous year Rs.8.66 Lacs) was included in the cost of manufactured in Quarter-2, and Rs.NIL (Previous year Rs.8.92 Lacs) in Quarter-3. The Balance off season expenditure of Rs.NIL (Previous year Rs.1.05 Lacs) has be debited to accounts in the last quarter of the year. As a result, profit of the current quarter is lowered by Rs.NIL (Previous year Rs.8.92 Lacs). This will have no impact on the annual results for the year.
3. The Company is in appeal against the total demand of Customs duty for Rs. 13.62 Crores on import of the Drawings, Designs and Documents during the year 1994-95. The Hon'ble Supreme Court on 22.9.2005 has remanded our case back to the Tribunal (CESTAT) for reconsideration and the matter is pending with CESTAT.
4. The Net Sales/Income from Operations includes the rental income of Rs.NIL (Previous year Rs.78.52 Lacs) for 3months, Rs.NIL (Previous Year Rs.235.54 Lacs) for 9 months ended 31st December,2008, and Rs.288.71 Lacs for 12 months ended 31st March,2009.
5. Depreciation of Rs.10.71 Lacs for the current quarter has been calculated  considering value of the fixed assets arrived at after giving the accounting effect of the reduction of capital in the 2nd quarter of the current financial year in view of registration by the Registrar of Companies, NCT of Delhi & Haryana on 23rd July,2009, of the certified copy of the order of the Hon'ble High Court of Punjab & Haryana confirming the reduction of issued, subscribed and paid up equity share capital of the Company from nominal value of Rs. 10/- per share to the nominal value of Rs. 3/- per share, without changing the number of shares. As a result, the excess depreciation of Rs.211.52 Lacs charged in the year 2008-09 and that of Rs.55.50 Lacs charged in the Ist quarter ended 30th June'09 has also been written back in the 2nd quarter of the current financial year and shown under the extra-ordinary items.
6. The Company operates through single business segment i.e. Manufacturing and Selling of Garments.
7. Figures for corresponding period of the previous year have been regrouped/ rearranged, wherever required.
8. Status of investors complaints for the quarter ended December 31, 2009
Pending as at 01.10.09 Received during the quarter Attended during the quarter Pending as at 31.12.09
NIL 1 1 NIL
For and on behalf of the Board
Place : Gurgaon (Aninda Mukharji)
Date : 30th January,2010. Whole Time Director
       
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