Saregama India Limited
 
Registered Office: 33, Jessore Road, Dum Dum, Kolkata - 700 028
 
Audited Financial Results for the quarter and year ended 31st March,2008
 
(Rs. in Lakhs)
Sl. No. Particulars Quarter Ended 31st March,2008 (Audited) Quarter Ended 31st March,2007 (Audited) Twelve Months Ended 31st March,2008 (Audited) Twelve Months Ended 31st March,2007 (Audited) Consolidated Financial Results
Twelve Months ended on 31st March 2008 (Audited) Twelve Months ended on 31st March 2007 (Audited)
 1. (a) Net Sales 2,057 2,102 8,564 9,162 8,955 10,278
(b) License Fees 1,869 948 5,138 3,923 5,276 4,041
 2. Other Income 315 335 670 644 852 699
 3. Total Income (1+2) 4,241 3,385 14,372 13,729 15,083 15,018
               
 4. Total Expenditure :            
(a) (Increase)/Decrease in stock in trade
and Work in Progress		 220 (120) (174) (22) (201) (80)
(b) Consumption of raw materials 568 650 2,317 2,841 2,357 2,908
(c) Cost of production of films/television serials 297   1,551 - 1,551 433
(d) Employees Cost 545 668 2,019 1,888 2,173 2,089
(e) Depreciation ( net of transfer from
Revaluation Reserve)		 83 77 340 273 404 337
(f) Advertisement and Sales promotion 115 289 957 1,100 969 1,112
(g) Royalty 893 648 2,834 2,794 2,855 2,855
(h) Other Expenditure 1,050 683 3,240 3,185 3,603 3,633
(i) Total 3,771 2,895 13,084 12,059 13,711 13,287
               
 5. Interest 66 14 191 60 201 67
 6. Exceptional Items 45 - 181 - 181 -
               
 7. Profit (+)/ Loss (-) from Ordinary Activities before tax (3)- (4+5+6) 359 476 916 1,610 990 1,664
               
 8. Tax Expense            
(a) Current Tax 26 54 93 182 93 182
(b) Fringe Benefit Tax 15 6 50 44 50 45
               
 9. Net Profit (+)/ Loss(-) from Ordinary Activities after tax (7-8) 318 416 773 1,384 847 1,437
               
 10. Extraordinary Items (net of tax expense Rs.Nil)            
               
 11. Minority Interest         26 63
               
 12. Net Profit (+)/ Loss(-) for the period (9-10) 318 416 773 1,384 821 1374
               
 13. Paid-up Equity Share Capital
(Face Value of Rs.10/- each)		 1,468 1,468 1,468 1,468 1,468 1,468
               
 14. Reserves excluding Revaluation Reserves (as per Balance Sheet ) of previous accounting year - - 8,004 7,200 7,728 7,728
               
 15.              
(a) Basic and Diluted EPS (Rs.)
before Extraordinary items for the period		 2.17 2.83 5.26 9.43 5.59 9.36
(b) Basic and Diluted EPS (Rs.)
after Extraordinary items for the period		 2.17 2.83 5.26 9.43 5.59 9.36
 16. Public shareholding            
   - Number of Shares 6,879,941 7,225,117 6,879,941 7,225,117 6,879,941 7,225,117
   - Percentage of Shareholding 46.88 49.23 46.88 49.23 46.88 49.23


Segment wise Revenue, Results and Capital Employed
(Rs. in Lakhs)
    Quarter Ended 31st March,2008 (Audited) Quarter Ended 31st March,2007 (Audited) Twelve Months Ended 31st March,2008 (Audited) Twelve Months Ended 31st March,2008 (Audited) Consolidated Financial Results
Year ended 31st March 2008 (Audited) Year ended 31st March 2007 (Audited)
  Segment Revenue            
(a) Music 3,858 NA 12,738 NA 12,870 13,778
(b) Films/TV Serials 465 NA 1,361 NA 1,361 557
(c) Unallocated - NA - NA - -
  Total 4,323   14,099   14,231 14,335
  Less: Inter Segment Revenue -   -   - 16
  Net Sales /Income From Operations 4,323 NA 14,099 NA 14,231 14,319
               
  Segment Results            
  Profit (+) / Loss(-)before tax and Interest for each Segment            
(a) Music 885 NA 2,684 NA 2,744 1,741
(b) Films/TV Serials (239) NA (542) NA (542) (106)
(c) Unallocated   NA - NA - -
  Total 646 NA 2,142 NA 2,202 1,635
  Less:   NA   NA    
i) Interest 64 NA 189 NA 201 67
ii) Other Unallocable Expenditure net of Unallocable Income 223   1,037   1,037 (96)
  Total Profit Before tax 359 NA 916 NA 964 1,664
               
  Capital Employed            
(a) Music 7,925 6,518 7,925 6,518 6,220 6,541
(b) Films/TV Serials 1,684 (337) 1,684 (337) 1,684 (337)
(c) Unallocated 4,811 5,564 4,811 5,564 4,652 5,479
  Total 14,420 11,745 14,420 11,745 12,556 11,683

 NOTES :
 1. The Board of Directors have recommended payment of dividend of Re.1/- on every paid up equity share of Rs.10/- each for the year ended 31st March, 2008.
 
 2. The Scheme of Amalgamation of Saregama Films Limited, a wholly owned subsidiary, with the Company with effect from 31st March, 2007 has been approved by the Hon'ble High Court at Calcutta by its Order dated 28th November, 2007 and a certified copy of the said Order has been filed with the Registrar of Companies, West Bengal on 7th December, 2007.
 
 3. Disclosure required as per Accounting Standard 17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India is applicable on amalgamation effective 31st March, 2007 mentioned in (2) above.
 
 4. Out of the 53,38,628 equity shares of Rs. 10/- each for cash at a premium of Rs.35/- (issue price - Rs.45/-) pursuant to the Rights Issue in 2005, allotment of 5490 equity shares (relating to cases under litigation / pending clearance from concerned authorities) are kept in abeyance till 31st March, 2008.
 
 5. The Company has adopted the Intrinsic Value method in keeping with the applicable regulatory pronouncements for accounting the stock options granted by the Company during the financial year 2006-07, which had no impact on the financial results of the Company. Had the fair value method been used in keeping with the said pronouncements, net results and earnings per share (basic and diluted) for the year would have been lower by Rs.28.73 lacs and Re. 0.20 respectively.
 
 6. An amount of Rs. 458 lacs has been paid during the twelve months ended 31st March, 2008 by the Company to its employees who retired under the Company's Voluntary Retirement Scheme-2007.This amount is being charged off over the remaining period of service of the related employees or three years whichever is lower and accordingly an amount of Rs 181 lacs and Rs.45 lacs has been charged off (included under exceptional Items) during the twelve months ended 31st March, 2008 and quarter ended 31st March, 2008 respectively.
 
 7. The Company has entered into a Joint Venture Agreement with a body corporate, forming a new company for the purpose of setting up of a facility for manufacture of replicated (pre recorded) optical media in India. During the quarter ended 31st March, 2008, the Company has invested Rs. 49.92 Lacs (499200 Equity shares of Rs. 10/- each at par). Till date the Company has invested in aggregate Rs. 145.97 lacs (1459684 Equity shares of Rs. 10/- each at par) representing 26% of the paid-up Equity share capital of the Joint Venture Company.
 
 8. The Company has acquired 10,000 equity shares of Rs. 10/- each in RPG Publications Pvt. Ltd. for a consideration of Rs. 1 lac on 15th May, 2008 whereby the said Company has become a wholly-owned subsidiary of the Company.
 
 9. With respect to the observation of the Auditors in its report on Limited Review dated 29th February, 2008 relating to adoption of AS-15 on employee benefits the Company has complied with the provisions of AS-15 notified under the Companies Act, 1956.
 
 10. The number of investor complaints received, disposed off and lying unresolved at the quarter ended 31st March, 2008 are as under:
 
  Pending at the beginning of the quarter -     1
  Received during the quarter -                      3
  Disposed off during the quarter -                 4
  Lying unresolved at the end of quarter -       0
 
 11. Previous periods figures have been regrouped/rearranged where considered necessary.
 
 12. The above results were reviewed by the Audit Committee and subsequently taken on record by the Board of Directors at its meeting held on 12th June, 2008.
 
 
Kolkata
12th June, 2008		 On behalf of the Board  

Subroto Chattopadhyay
Managing Director   
 
  For investor grievances mail to : co.sec@saregama.co.in
copyrights (c) saregama (R) India Ltd. All rights Reserved.