CHOWGULE STEAMSHIPS LIMITED
Registered Office: Mormugao Harbour, Goa.
Website: www.chowgule.co.in,   E-mail: murthy.csl@chowgule.co.in
AUDITED FINANCIAL RESULTS FOR THE YEAR 
ENDED MARCH 31, 2007
 RS. IN LAKHS   (RS. IN LAKHS) 
PARTICULARS NINE MONTHS ENDED 31.12.2006 (AUDITED)  THREE MONTHS ENDED   YEAR ENDED   YEAR ENDED 31.03.2006 (AUDITED)   CONSOLIDATED YEAR ENDED 
31.03.2007 (AUDITED) 31.03.2006 (AUDITED) 31.03.2007 (AUDITED) 31.03.2006 (AUDITED) 31.03.2007 (AUDITED) 31.03.2006 (AUDITED)
                 
INCOME FROM OPERATIONS 2,853.67 1,152.95 776.73 4,006.62 3,370.50         3,370.50    10,101.94      7,425.45
OTHER INCOME 446.37 221.28 113.69 [1] 667.65 655.41 [2]            655.41 [3]         828.80         798.07 [4]
REVERSAL OF PAST PROVISIONS                   -                       -                       -                       -   354.34                 -           354.34
                       354.34    
  3,300.04 1,374.23 890.42 4,674.27 4,380.25         4,380.25    10,930.74      8,577.86
TOTAL EXPENDITURE                
   a) Staff cost 540.48 245.24 266.81 785.72 848.25            848.26      1,459.93      1,331.64
   b) Fuel oil and lubricants consumption 196.34 88.40 53.39 284.74 120.02            120.02         554.36         119.07
   c) Stores and spare parts consumption 142.35 43.66 63.72 186.01 139.71            139.71         654.19         264.18
   d) Insurance 92.75 34.43 34.29 127.18 122.44            122.44         363.35         342.34
   e) Dry Docking, Ship Repairs and Survey Expenses 328.35 146.00 102.11 [5] 474.35 330.61 [6]            323.69      1,385.92      1,156.28
   f) Others 532.87 233.54 200.66 [7] 766.41 726.85 [8]            733.76      1,727.94      1,309.15
                 
       Total  1,833.14 791.27 720.98 2,624.41 2,287.88 2,287.88 6,145.69 4,522.66
                 
PROFIT BEFORE INTEREST AND DEPRECIATION 1,466.90 582.96 169.44 2,049.86 2,092.37 2,092.37 4,785.05 4,055.20
INTEREST 52.95 27.40 (71.93) 80.35 193.62            193.62         701.34         545.53
DEPRECIATION 604.38 199.69 197.57 804.07 769.21            769.21      2,451.49      2,166.90
PROFIT BEFORE EXCEPTIONAL ITEMS           809.57              355.87               43.80          1,165.44     1,129.54        1,129.54    1,632.22     1,342.77
PROFIT ON SALE OF SHIP                   -                       -                       -                       -                  -          3,525.11                -  
PROVISION FOR DOUBTFUL DEBTS                   -   (41.67)                     -                (41.67)                -             (41.67)                -  
PROFIT BEFORE TAXATION           809.57              314.20               43.80          1,123.77     1,129.54        1,129.54    5,115.66     1,342.77
PROVISION FOR TAXATION (277.87) (328.63) 14.24             (606.50) (400.36)            (18.71)       (606.50)        (400.36)
REVERSAL FOR DEFERRED TAX LIABILITY                   -   203.46 42.16              203.46 381.65                  -           203.46         381.65
PROVISION FOR FRINGE BENEFIT TAX               (2.58)                 (0.88)                (5.24)                (3.46)          (14.31)            (14.31)           (3.46)         (14.31)
INCOME TAX OF EARLIER YEARS                   -                       -                  (6.75)                     -             (6.75)              (6.75)               -             (6.75)
NET PROFIT           529.12              188.15               88.21             717.27     1,089.77        1,089.77    4,709.16     1,303.00
                 
PAID UP EQUITY SHARE CAPITAL 3,630.84 3,630.84 3,630.84 3,630.84 3,630.84         3,630.84      3,630.84      3,630.84
(FACE VALUE RS. 10/- PER SHARE)                
RESERVES EXCLUDING REVALUATION RESERVES                 6,375.66       6,088.86         6,088.87    10,638.18      6,304.15
BASIC AND DILUTED EPS FOR THE PERIOD (RS.)                
(NOT ANNUALISED) 1.46 0.52 0.24 1.98 3.00               3.00 12.97 3.59
AGGREGATE OF PUBLIC HOLDINGS                
           - NUMBER OF SHARES      12,015,854         12,015,854        12,015,846        12,015,854   12,015,846      12,015,846  12,015,854   12,015,846
           - PERCENTAGE OF SHAREHOLDING 33.09% 33.09% 33.09% 33.09% 33.09% 33.09% 33.09% 33.09%
Notes:
1) The Company has only one business segment viz. shipping.
2) The Company's Share Transfer Agents are Intime Spectrum Registry Ltd, C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (W), Mumbai 400 078. Tel: 2596 3838.
3) There were no investor complaints pending at the beginning of the quarter. During the quarter, the Company
    received 20 investor complaints which were all redressed and there were no complaints pending as on March 31, 2007.
4) The Board has recommended a dividend of Re.1/- (10%) per equity share of Rs. 10/- each on 3,63,08,425 equity shares
5) The Register of Members and Share Transfer Books will remain closed from July 13, 2007 to July 20, 2007 (both days inclusive) for the purpose of declaration of Dividend.
6) The consolidated Financial Statements include the Consolidated Financial Statements of the wholly owned subsidiary - Chowgule Steamships Overseas Ltd.
7) Figures for the previous periods have been regrouped wherever necessary and have been adjusted for the effect of the Guidance Note on Measurement
    of Income Tax Expense for Interim Financial Reporting in the context of AS-25 issued by the Institute of Chartered Accountants of India.
8) The above results as reviewed by the Audit Committee were approved and taken on record by the Board of Directors
    of the Company at its meeting held on April 26, 2007.
 For Chowgule Steamships Limited 
UNAUDITED FINANCIAL HIGHLIGHTS OF CHOWGULE STEAMSHIPS OVERSEAS LTD FOR
 THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2006
USD '000
PARTICULARS QUARTER ENDED NINE MONTHS  ENDED YEAR ENDED
  31.12.06 31.12.05 31.12.06 31.12.05 31.03.06
           
           
TOTAL REVENUE                 2,684                3,014              10,805           6,034              9,529
PROFIT ON SALE OF SHIP                 8,046                     -                  8,046                -                    -  
PROFIT BEFORE INTEREST, DEPRECIATION AND TAX                 8,575                1,768              12,926           2,914              5,044
NET PROFIT                 7,337                   966                8,983              564              1,519
CAPITAL EMPLOYED                 9,200                9,200                9,200           9,200              9,200
           
Currency Equivalent 1USD = INR 43.91
Mumbai  M. P. Patwardhan 
Dated: April 26, 2007  Managing Director 
 

[1]
csl:
profit on sale of asset clubed in other income of Rs 0.45 L
[2]
csl:
profit on sale of asset clubed in other income of Rs 1.01 L
[3]
csl:
[4]
csl:
profit on sale of asset clubed in other income of Rs 1.01 L
[5]
csl:
Repairs & survey have been clubed in DD exp of Rs 65.33 L
[6]
csl:
Repairs & survey have been clubed in DD exp of Rs 115.25 L
[7]
csl:
Exch fluct that was shown seperately during dec 05 have been clubed in others of Rs 83.54 L
[8]
csl:
Exch fluct that was shown seperately during dec 05 have been clubed in others of Rs 92.84 L