KANANI INDUSTRIES LIMITED
R.O. : G-6, PRASAD CHAMBERS, OPERA HOUSE, MUMBAI- 400 004.
                                  UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31 ST DECEMBER, 2008
                                                                                                            (Rs. in lacs)
                                                     Quarter       Quarter     Nine Months   Nine Months      For Year
                  Particulars                       Ended on      Ended on     Ended on      Ended on          Ended
                                                    31.12.2008    31.12.2007   31.12.2008    31.12.2007      31.03.2008
                                                    Unaudited     Unaudited    Unaudited     Unaudited        Audited
Sales/ Income from Operation                          744.07        -       4,098.77                 -         1,432.44
Other Income                                             -          -            -                   -              -
Total Income                                          744.07        -       4,098.77                 -         1,432.44
Expenditure
Raw Material Consumption & Purchases                  655.66        -       3,429.70                 -           972.07
Staff Cost                                              7.44       0.08        21.07                0.08           5.43
Other Expenses                                          5.23       2.01        20.55                2.37          15.29
Total Expenses                                        668.33       2.09     3,471.32                2.45         992.79
Interest & Finance Charges                               -          -            -                   -              -
Depreciation                                            1.57        -           2.79                 -             0.06
Profit/(Loss) before tax                               74.17      (2.09)      624.66               (2.45)        439.59
Provision for Current tax                              (0.02)       -          (0.08)                -              -
Provision for Deffered tax                               -          -            -                   -              -
Profit after tax                                       74.15      (2.09)      624.58               (2.45)        439.59
Paid up Equity Capital(Face Value of Rs.10)           299.80        -         299.80                 -            24.90
Reserves (excluding revaluation reserves)                -          -            -                   -           449.77
Basic & Diluted EPS (Not annualised)                    2.47        -          20.83                 -           176.54
Aggregate of non-promoter Shareholding
No. of Shares                                         754520      62260       754520              62260           62400
% of Shares                                            25.16      25.00         25.16             25.00           25.06
NOTES :
1. The above financial results reviewed by the Audit Committee were taken on record by the       Board of Directors in
    it's Meeting held on 19th January, 2009.
2. The Statutory Auditors have carried out Limited Review as required under clause 41 of the Listing Agreement.
3. Previous period figures have been regrouped/rearranged wherever necessary .
4. The Company has only one segment i.e. Studded Diamond Jewellary.
5. The Company has not received any Investor's Complaints during the period under review.
6. Deferred tax liability will be accounted for at the end of the year.
                                                                                For & On behalf of Board of Directors
Place :    Mumbai                                                                                (HARSHIL P. KANANI)
Date :     January 19, 2009                                                                        Managing Director