VAIBHAV GEMS LIMITED

VAIBHAV GEMS LIMITED
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER & NINE MONTHS ENDED 31ST DECEMBER 2008

Sr.
No.

Particulars

Quarter Ended

Nine Months Ended

(Rs. in Lacs)
Year Ended

31-Dec-08

31-Dec-07

31-Dec-08

31-Dec-07

31-Mar-08

(Un Audited)

(Audited)

a. Net Sales/Income from Operations

6,267.64

9,574.16

15,610.52

24,023.91

31,010.37

b. Other Operating Income

62.70

63.06

332.21

175.07

300.43

Total Income (a + b)

6,330.34

9,637.22

15,942.73

24,198.98

31,310.80

Expenditure

a. Increase/Decrease in Stock in Trade and Work in Progress

211.94

(670.51)

976.84

(234.75)

(384.66)

b. Consumption of Raw Materials

4,966.14

8,407.32

11,188.69

18,573.85

23,527.89

c. Purchase of Traded Goods

8.46

542.88

511.51

1,425.48

1,992.88

d. Employees Cost

327.97

485.74

1,149.17

1,424.91

1,880.11

e. Depreciation

37.91

44.67

113.17

130.75

175.96

f. Other Expenditure

300.04

489.11

996.81

1,428.66

1,796.74

g.Total

5,852.67

9,299.22

14,936.19

22,748.90

28,988.93

Profit from Operations before Other Income, Interest and Exceptional Items ( 2-3 )

477.87

338.00

1,006.53

1,450.08

2,321.87

Other Income

5.88

62.03

34.55

62.05

87.67

Profit before Interest and Exceptional Items ( 4+5 )

483.76

400.03

1,041.09

1,512.13

2,409.54

Interest and Finance Charges

441.69

288.15

1,152.82

609.70

919.49

Exceptional items

Profit (+)/ Loss (-) from Ordinary Activities Before Tax ( 6-7-8 )

42.06

111.88

(111.73)

902.42

1,490.05

10.

Tax expense

17.02

22.31

25.50

105.58

(14.31)

11.

Net Profit (+)/ Loss (-) from Ordinary Activities After Tax ( 9-10 )

25.04

89.57

(137.23)

796.84

1,504.36

12.

Extraordinary Items (Net of Tax Expenses)

8,606.23

19,911.17

13.

Net Profit (+)/ Loss (-) for the Period ( 11-12 )

(8,581.19)

89.57

(8,743.46)

796.84

(18,406.80)

14.

Paid-up Equity Share Capital(Face Value Per Share of Rs. 10/-)

3,169.85

15.

Reserves excluding Revaluation Reserve

50,280.02

16.

Earning Per Share (EPS)

a) Basic and Diluted EPS before Extraordinary items for the Period, for the Year to date & for the Previous Year (not annualized)

0.04

0.26

(0.54)

2.57

4.95

b) Basic and Diluted EPS after Extraordinary items for the Period, for the Year to date & for the Previous Year (not annualized)

(27.11)

0.26

(27.69)

2.57

(62.50)

17.

Public Shareholding

- Number of Shares

14,499,306

- Percentage of Shareholding

45.74%

Notes :

Figures for corresponding periods have been regrouped / rearranged wherever necessary.

The Statement of Quarterly Unaudited Financial Results has been reviewed by the Audit Committee and approved & taken on record by the Board of Directors at its meeting held on 28th Jan'2009. The Statutory Auditors have conducted limited review of the above results of the company as required by clause 41 of the Listing Agreement.

The Issue proceeds of the GDR Issue, on 12th October 2007, have been utilized towards the objects of the issue during the quarter.

The company is in active stage of restructuring and rationalizing operations, including closure of operations of some of its subsidiaries across the business of the company. The impact of the same on the company's financials will be known in due course of time. However, a provision of Rs. 8606.23 lacs (inclusing Rs. 2250.46 lacs due from German Subsidiary- Der Schmukkanal Deutschland GmbH, which is under liquidation) has been made during the quarter (as an extra-ordinary item) against exposure of the company to subsidiaries. Further provision, if required, will be made at the year end.

The Company operates in only one segment, i.e.Gems & Jewellery Wholesale, therefore, Segment Reporting is not required.

No Investor complaints were pending at the beginning and end of the quarter. During the quarter, no complaint has been received.

K-6B, Adarsh Nagar

Fateh Tiba
Jaipur - 302 004
28th Jan 2009

For Vaibhav Gems Limited

Sd/-
RAHIMULLAH
Managing Director

VAIBHAV GEMS LIMITED
Unaudited Consolidated Financial Result for the 9 months ended 31st December, 2008

Particulars

Wholesale
(A)

Retail

Adjustment
(C)

(Rs. in Lacs)

Stores (B&M)

Electronic (TV & Internet)

Retail Total(B)

Total(A+B+C)

Net Sales / Income from Operation

36,418.56

100.0%

6,051.61

100.0%

30,330.84

100.0%

36,382.45

100.0%

(24,997.3)

47,803.72

100.00%

Other Income

142.44

0.39%

11.28

0.19%

62.89

0.21%

74.18

0.20%

216.61

0.45%

Total

36,560.99

100.39%

6,062.90

100.19%

30,393.73

100.21%

36,456.63

100.20%

(24,997.3)

48,020.34

100.45%

Material consumed

30,771.35

84.49%

2,014.14

33.28%

20,531.09

67.69%

22,545.23

61.97%

(21,440.5)

31,876.09

66.68%

Employee Cost

2,628.85

7.22%

1,725.87

28.52%

2,141.73

7.06%

3,867.59

10.63%

6,496.44

13.59%

Other Expenses

1,431.18

3.93%

3,265.65

53.96%

10,646.61

35.10%

13,912.26

38.24%

15,343.44

32.10%

Total

34,831.38

95.64%

7,005.66

115.77%

33,319.42

109.85%

40,325.08

110.84%

(21,440.5)

53,715.98

112.37%

PBDIT

1,729.61

4.75%

(942.76)

-15.58%

(2,925.69)

-9.65%

(3,868.45)

-10.63%

3,556.8

(5,695.64)

-11.91%

Financial Expenses

963.70

2.65%

280.61

4.64%

303.24

1.00%

583.85

1.60%

1,547.55

3.24%

Depreciation

217.56

0.60%

227.42

3.76%

597.00

1.97%

824.42

2.27%

1,041.98

2.18%

PBT

548.35

1.51%

(1,450.90)

-23.97%

(3,825.93)

-12.61%

(5,276.72)

-14.50%

(3,556.8)

(8,285.17)

-17.33%

Tax

18.00

0.05%

0.10

0.00%

0.10

0.00%

18.10

0.04%

PAT

530.35

1.46%

(1,450.90)

-23.98%

(3,825.93)

-12.61%

(5,276.82)

-14.50%

3,556.8

(8,303.27)

-17.37%

Less : Exceptional items

(5,397.40)

343.62

(5,053.78)

PAT

(4,867.04)

(1,450.90)

0.24

(3,482.31)

(0.13)

(4,933.21)

(0.15)

3,556.80

(13,357.05)

Note :
1. 'The Statement of Quarterly Unaudited Financial Results has been reviewed & approved by the Audit Committee and taken on record by the Board of Directors in the meeting held on 28th January, 2009.
2. The Financials of Foreign subsidiaries have been translated into local currency in conformity with the Accounting Standard. For the 9 month ended December 2008 , there is a gain of Rs. 3552 Lac due to fluctuation of exchange rate, which is included in the material cost.
3. DSK, Germany in view of controlled by Legal administrator and as the company has not received the financials uptill 31st December, 2008, it has not been included in the consolidated financials.

K-6B, Adarsh Nagar									For and on behalf of board
Fateh Tiba
Jaipur -302 004									SD/-
28th Jan, 2009									Managing Director