CHEVIOT COMPANY LIMITED
Regd Office : 24, Park Street, Magma House ( 9th Floor ), Kolkata - 700 016
       
 










 
UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED 30 TH JUNE , 2010   ( Rs. In Lakhs )
Sl. No Particulars 3 months ended 30/06/2010
(Unaudited )		 Corresponding 3 months ended in the previous year 30/06/2009
(Unaudited )		 Previous accounting year ended 31/03/2010
(Audited )
         
1. a. Net Sales / Income from Operations 6811.06 3887.48 17189.02
  b. Other Operating Income 179.85 61.66 425.06
  c. Total 6990.91 3949.14 17614.08
         
2. Expenditure      
   a.  (Increase) / decrease in stock in trade and work in progress (428.44) (97.47) (317.87)
   b.  Consumption of raw materials 4027.96 2207.18 9479.63
   c.  Employees cost 952.21 732.50 3092.77
   d.  Depreciation ( Net ) 92.29 101.74 433.14
   e.  Other expenditure 1310.58 751.28 3572.61
   f.  Total  5954.60 3695.23 16260.28
         
3. Profit from Operations before Other Income, Interest and Exceptional Items (1-2) 1036.31 253.91 1353.80
4. Other Income 134.20 21.64 745.00
5. Profit before Interest and Exceptional Items (3+4) 1170.51 275.55 2098.80
6. Interest 27.35 4.70 46.42
7. Profit after Interest but before Exceptional Items (5-6) 1143.16 270.85 2052.38
8. Exceptional Items (Depreciation for earlier years written back) - - 59.02
9. Profit from Ordinary Activities before tax (7+8) 1143.16 270.85 2111.40
10. Tax expense 350.00 41.00 470.42
11. Net Profit from Ordinary Activities after tax (9-10) 793.16 229.85 1640.98
12. Extraordinary item                           -                              -                           -  
13. Net Profit for the period (11-12) 793.16 229.85 1640.98
14. Paid - up Ordinary Share Capital  (Face value of Rs. 10 each)  451.13 451.13 451.13
15. Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year     17436.50
16. Earnings Per Share (EPS)       
   a. Basic and diluted EPS before Extraordinary items for the period, for the year to date and for the previous year (not annualised) 17.58 5.09 36.38
   b. Basic and diluted EPS after Extraordinary items for the period, for the year to date and for the previous year (not annualised) 17.58 5.09 36.38

17.

 Public Shareholding      
  - Number of shares 1176564 1211975 1176564
  - Percentage of shareholding 26.08 26.87 26.08
18. Promoters and promoter group shareholding      
  a. Pledged / encumbered      
  - Number of shares                            -                              -                           -
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group)                            -                              -                           -
  - Percentage of shares (as a % of the total share capital of the company)                            -                              -                           -
   b. Non-encumbered      
  - Number of shares 3334686 3299275 3334686
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 100.00 100.00
  - Percentage of shares (as a % of the total share capital of the company) 73.92 73.13 73.92
Notes:

1) The Statutory Auditors of the Company have carried out a limited review of the financial results for the quarter ended 30th June, 2010 in terms of clause 41 of the listing agreement.

2) The Company operates through two business segments namely, a) Jute goods and b) Captive power generation. However, captive power generation is not a reportable segment in terms of the criteria laid down in paragraph 27 of the Accounting Standard - 17 as the revenue / results / assets of this segment are not more than the threshold limit of 10% of the total segment revenue / results / assets.

3) Number of Investors queries / complaints received and disposed off during the quarter ended 30th June, 2010:- ( i ) Pending as on 01.04.2010 - 1, ( ii ) Received during the quarter - 28 ( iii ) Disposed off during the quarter - 28 ( iv ) Lying unresolved as at 30.06.2010 - 1, which has since been resolved.

4) Previous period's figures have been re-grouped / re-cast to conform to the current period presentation.

5) The above unaudited financial results after review of the Audit committee were approved by the Board of Directors at their meeting held on 22nd July, 2010.

   
 
For Cheviot Company Limited
Place: Kolkata
Dated: 22nd July, 2010
H.V.Kanoria
Chairman and Managing Director,
Chief Executive Officer
     
   
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 ST MARCH, 2010   ( Rs. In Lakhs )
Sl. No Particulars Current accounting year ended 3/31/2010
( Audited )		 Previous accounting year ended 3/31/2009
( Audited )
1. a) Net Sales / Income from Operations 17189.02 18669.18
  b) Other Operating Income 425.06 319.21
  c) Total 17614.08 18988.39
2. Expenditure    
  a. ( Increase ) / decrease in stock in trade and work in progress (317.87) 117.43
  b. Consumption of raw materials 9479.63 8204.57
  c. Employees cost 3092.77 3087.50
  d. Depreciation ( Net ) 433.14 442.69
  e. Other expenditure 3572.61 4792.33
  Total 16260.28 16644.52
3. Profit from Operations before Other Income, Interest & Exceptional Items (1-2) 1353.80 2343.87
4. Other Income 745.00 (374.19)
5. Profit before Interest & Exceptional Items (3+4) 2098.80 1969.68
6. Interest 46.42 84.37
7. Profit after Interest but before Exceptional Items (5-6) 2052.38 1885.31
8. Exceptional Items (Depreciation for earlier years written back) 59.02 -
9. Profit from Ordinary Activities before tax (7+8) 2111.40 1885.31
10. Tax expense { includes Rs. 3.25 for earlier years (previous year Rs. 84.45)} 470.42 687.75
11. Net Profit from Ordinary Activities after tax (9-10) 1640.98 1197.56
12. Extraordinary item  - -
13. Net Profit for the period (11-12) 1640.98 1197.56
14. Paid - up Ordinary Share Capital  ( Face value - Rs. 10 each )  451.13 451.13
15. Reserves excluding Revaluation Reserves  17436.50 16216.36
16. Earnings Per Share (EPS)     
  a) Basic and diluted EPS before extraordinary items  36.38 26.55
  b) Basic and diluted EPS after extraordinary items  36.38 26.55
17. Public Shareholding    
  - Number of shares 1176564 1211975
  - Percentage of shareholding 26.08 26.87
18. Promoters and promoter group shareholding    
a) Pledged / encumbered    
  - Number of shares    
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group)    
  - Percentage of shares (as a % of the total share capital of the company)    
b) Non-encumbered    
  - Number of shares 3334686 3299275
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 100.00
  - Percentage of shares (as a % of the total share capital of the company) 73.92 73.13
Notes :

1) The Board of Directors have recommended a dividend of Rs. 8/- Per Share on 45,11,250 Ordinary Shares of the face value of Rs. 10 each amounting to Rs. 360.90 Lakhs for the year ended 31st March 2010 subject to approval of the members at the forthcoming annual general meeting.

2) The Company operates through two business segments namely, a) Jute goods and b) Captive power generation. However, captive power generation is not a reportable segment in terms of the criteria laid down in paragraph 27 of the Accounting Standard - 17 as the revenue / results / assets of this segment are not more than the threshold limit of 10% of the total segment revenue / results / assets.

3) Due to industrywide strike for 62 days from 14 th December, 2009 to 13 th February, 2010, manufacturing operations were affected at units situated at Budge Budge.

4) Number of Investors queries / complaints received and disposed off during the year ended 31st March, 2010 :-
( i ) Pending as on 01.04.2009 - Nil
( ii ) Received during the year - 122
( iii ) Disposed off during the year - 121
( iv ) Lying unresolved  as at 31.03.2010 - 1 which has since been resolved.

5) Previous year figures have been re-grouped / re-cast to conform to the current period presentation.

6) The above financial results after review of the Audit committee were approved by the Board of Directors at their meeting held on 7th May, 2010.

   
 
For Cheviot Company Limited
Place: Kolkata
Dated: 7 th May, 2010
H.V.Kanoria
Chairman and Managing Director ,
Chief Executive Officer

 
       
     
CORPORATE GOVERNANCE
General Body Meetings
       
      a) Location and date l time where last three Annual General Meetings (AGM) were held and No. of Special Resolution passed:
       
     
Financial Year
 Location           Date
Time

No. of Special
Resolution Passed

2006-2007

The Sitaram Seksaria Auditorium Bharatiya Bhasha Parishad, 36A, Shakespeare Sarani (4th Floor) Kolkata - 700 017

26th June, 2007
11.00 am

One
2007-2008

The Sitaram Seksaria Auditorium Bharatiya Bhasha Parishad, 36A,Shakespeare Sarani (4th Floor), Kolkata-700 017

07th August, 2008

11.00 am

One

2008-2009

The Sitaram Seksaria Auditorium Bharatiya Bhasha Parishad 36A, Shakespeare Sarani (4th Floor) Kolkata - 700 017

 23rd  July, 2009
11.00 am
Nil
       
      b) Postal Ballot

No special resolution was passed last year through postal ballot. There is no item on the agenda of ensuing Annual General Meeting which requires passing a special resolution through postal ballot.
       
      General Shareholder Information
       
     
a) AGM : Date, Time and Venue 22nd July, 2010 at 11.00 a.m. at The Sitaram Seksaria Auditorium, Bharatiya Bhasha Parishad, 36A, Shakespeare Sarani, 4th Floor, Kolkata - 700 017
b) Financial Calendar (Tentative) I.     Financial Year : April to March
II.   First quarter  results : 3rd week of July, 2010
III. Half yearly results : Last week of October, 2010
IV.  Third quarter  results : Last week of January, 2011
V.    Year ending results : Last week of May, 2011
c) Book Closing Period

17th July, 2010 to 22nd July, 2010 (both days inclusive)
d) Dividend payment due date 21st August, 2010.
e) Listing on Stock Exchange
(Equity Shares)		 Bombay Stock Exchange Limited
Phiroze Jeejeebhoy Towers
Dalal Street, Mumbai - 400 001
Listing Fees for the year 2010-2011 has been paid.
f ) Stock Code-Physical
Demat ISIN Number  for NSDL and CDSL		 526817 on Bombay Stock Exchange Limited
INE974B01016
g)  Market Price data: High, Low during  each month in last financial year Information has been given at the end of Clause 9.

h) Stock performance of the Company in comparison to BSE Sensex (April, 2009 to March, 2010) Information has been given at the end of Clause 9.
i)   Registrar and Share Transfer Agent Maheshwari  Datamatics  Pvt. Ltd.
6, Mangoe  Lane, 2nd Floor, Kolkata - 700 001
Phone  : 033-2243 5029/5809,  Fax : 033-2248 4787
E-mail : mdpl@cal.vsnl.net.in
j)  Share Transfer System Information has been given at the end of Clause 9.
k)  Distribution  of Shareholding as on 31st March, 2010 Information has been given at the end of Clause 9.
l) Dematerialisation of shares and liquidity As on 31st March, 2010, 33.39% of the Company’s paid-up  share capital representing 15,06,328 shares is held in dematerialised form.
m) Outstanding GDRs/ADRs/Warrants or any convertible instruments, conversion date and likely impact on equity

Not issued

n) Plant Locations The Company’s plants are located  at following places :
i) 19, Mehta Road, Badekalinagar, Budge Budge, 24, Parganas (South) - 700 137 (West Bengal) ;
ii) Sector II, Falta Special Economic Zone, Falta, 24 Parganas (South) - 743 504 (West Bengal)
o) Address for Correspondence Cheviot Company  Limited
24, Park Street, Magma House, (9th Floor), Kolkata - 700 016
Phone : 033-3291 9624/25/28
Fax :033-2249 7269
E-mail : cheviot@chevjute.com
Investor service e-mail id : investorservices@chevjute.com
Website : www.groupcheviot.net

Information in respect of Clause 9 (g)
       
      Market Price data: High, Low during  2009-2010 is given in the table below:
       
     
Month

Bombay Stock Exchange Limited
  High (Rs.) Low (Rs.)
April, 2009 143.05 111.7
May, 2009 179.3 139.1
June, 2009 204.2 164.4
July, 2009 173.1 148.35
August, 2009 185.1 155.55
September, 2009 193.8 171.55
October,  2009 258.1 185.05
November,  2009 233.75 200.5
December,  2009 262.25 221.65
January, 2010 270.05 240.55
February, 2010 262.55 249.05
March, 2010 251.55 243.2
Information in respect  of Clause 9 (h)
       
      Stock performance of the Company in comparison to BSE Sensex (April, 2009 to March, 2010)
       
     
Month
Company’ share price (Rs.) at Bombay Stock Exchange Limited
BSE Sensex

High Low High Low
April, 2009 143.05 111.70 11403.25 9901.99
May, 2009 179.30 139.10 14625.25 11682.99
June, 2009 204.20 164.40 15466.81 14265.53
July, 2009 173.10 148.35 15670.31 13400.32
August, 2009 185.10 155.55 15924.23 14784.92
September, 2009 193.80 171.55 17126.84 15398.33
October,  2009 258.10 185.05 17326.01 15896.28
November,  2009 233.75 200.50 17198.95 15404.94
December,  2009 262.25 221.65 17464.81 16601.20
January, 2010 270.05 240.55 17701.13 16289.82
February, 2010 262.55 249.05 16496.05 15790.93
March, 2010 251.55 243.20 17711.35 16772.56
Information in respect  of Clause 9 ( j ) Share Transfer System
       
      Share transfers  in physical and demat form are being  processed by the Registrar and Share Transfer Agent, M/s Maheshwari Datamatics Pvt. Ltd. on regular  basis. The transfer/transmission of shares  are approved in accordance with the  powers  delegated by the  Board of Directors  to the  Chairman  and  Managing  Director, Wholetime Director and  Vice President & Secretary.
       
      The shares lodged for transfers/dematerialisation are processed within 15 days from the date of their lodgement, if transfer instruments are found  valid and  complete in all respects.
       
      As stipulated by SEBI, Mr. S. D. Basu, a Qualified Practicing Company Secretary carries out the Secretarial Audit to reconcile the total admitted Capital in dematerialised form (held with NSDL and CDSL) and total number of shares in physical form and to confirm that  the total Listed and Paid-Up Capital are in agreement with the aggregate number of shares. This audit is carried out in every quarter and  the  report  is submitted to the  Bombay Stock Exchange  Limited.
       
      Information in respect  of Clause 9 (k)
       
      Distribution  of Shareholding as on 31st March, 2010
       
     
Number  of Ordinary Shares held Number of Shares Percentage of Shareholding Number of Shareholders/folios Percentage of Shareholders
Up  to  500 553209 12.2629 5742 94.4874
501 to 1000 129014 2.8598 177 2.9126
1001 to 2000 131977 2.9255 94 1.5468
2001 to 3000 70697 1.5671 27 0.4443
3001 to 4000 17270 0.3828 5 0.0823
4001 to 5000 28039 0.6216 6 0.0988
5001 to 10000 74978 1.6620 11 0.181
10001 and above 3506066 77.7183 15 0.2468
Total 4511250 100.0000 6077 100.0000
Physical Mode 3004922 66.6095 1702 28.0072
Demat Mode 1506328 33.3905 4375 71.9928
       
      Shareholding Pattern as on 31st March, 2010
       
     
Category Code Category of Shareholder Total Number of Shares % of Shares
       
(A) Shareholding of Promoter and Promoter  Group (As per MRTP Act, 1969)    
  Indian    
  Individuals/Hindu Undivided family:    
  Mr. Harsh Vardhan Kanoria 2,95,214 6.5439
  Mrs. Malati Kanoria 2,85,150 6.3209
  Master Utkarsh Kanoria 1,70,191 3.7726
  Mrs. Madhavi Agrawal 0 0.0000
  Mrs. Ishita Mohatta 0 0.0000
       
(b) Central Govt./State Govt.(s) 0 0.000
(c) Bodies Corporate:    
  Harsh Investments Private Limited (Holding Company) 25,74,081 57.0592
  Abhyadoot Finance & Investments Private Limited 9,000 0.1995
  Cheviot International Limited 150 0.0033
  Cheviot Agro Industries  Limited 300 0.0066
  Powertone Trading Company  Private Limited 600 0.0133
  Elite (India) Private Limited 0 0.0000
  Bright & Shine Micro Products Private Limited 0 0.0000
       
  Associates : Jan Priya    
(d) Trust Shashvat

0

 0.0000
  Foundation 0 0.0000
(e) Financial Institutions/Banks 0 0.0000
(f) Any Others (specify) 0 0.0000
  Sub-Total (A) (1) 33,34,686 73.9193
       
       
     
Category Code Category of Shareholder Total Number of Shares % of Shares
       
2
 Foreign    
(a) Individuals (Non-Resident  Individuals/Foreign Individuals) 0 0.0000
(b) Bodies Corporate 0 0.0000
(c) Institutions 0 0.0000
(d) Any other  (specify) 0 0.0000
  Sub-Total (A) (2) 0 0.000
  Total Shareholding of Promoter  and Promoter Group (A) = (A) (1) + (A) (2) 33,34,686 73.9193
       
(B) Public Shareholding    
1 Institutions    
(a) Mutual Funds/UTI 200 0.0044
(b) Financial Institutions/Banks 7,500 0.1663
(c) Central Govt./State  Govt.(s) 0 0.0000
(d) Venture Capital Funds 0 0.0000
(e) Insurance  Companies 0 0.0000
(f) Foreign Institutional Investors 15,153 0.3359
(g) Foreign Venture Capital Investors 0 0.0000
(h) Any Other (specify) 0 0.0000
  Sub-Total (B) (1) 22,853 0.5066
       
2 Non-Institutions 1,97,554 4.3792
(a) Bodies Corporate Individuals 8,64,464 19.1624
(b) i. Individual Shareholders holding  nominal share capital upto  Rs. 1 Lakh 31,737 0.7035
(c) ii. Individual Shareholders holding  nominal share capital in excess of Rs. 1 Lakh    
  Any Other (specify)    
(c-i) Non-Resident  Individual 52,700 1.1682
(c-ii) Foreign National 7,256 0.1608
  Sub-Total (B) (2) 11,53,711 25.5741
  Total Public Shareholding (B) = (B) (1) + (B) (2) 11,76,564 26.0807
  TOTAL (A) + (B) 45,11,250 100.0000
(c) Shares held by Custodians and against which Depository Receipt have been  issued 0 0.0000
  GRAND  TOTAL (A)+(B)+(C) 45,11,250 100.0000
       
       
       
       
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