WALCHAND PEOPLEFIRST LIMITED
( Formerly known as Walchand Capital Ltd.)
Registered Office: 5, Construction House, Walchand Hirachand Marg,
Ballard Estate, Mumbai 400 001.
AUDITED  FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2009.

(Rs. in Lacs)
  PARTICULARS STANDALONE CONSOLIDATED
Quarter  Ended Year  Ended Quarter  Ended Year  Ended
    31-Mar 31-Mar 31-Mar 31-Mar
  Unaudited Audited Unaudited Audited
  2009 2008 2009 2008 2009 2008 2009 2008
                   
1 (a) Income from Operations -Training  & Consulting Income                        -                           -                       -                 497.87                   266.34                      291.34            1,168.06                  992.87
                                               '-Investment Income                  25.42                   32.98               28.82               133.64                       7.21                        32.98                 10.61                  133.64
                                               '-Training Center Income                        -                           -                       -                        -                            -                               -                         -                            -  
  (b) Other Operating Income                        -                           -                       -                        -                            -                               -                     8.45                          -  
  Total (a+b)                  25.42                   32.98               28.82               631.51                   273.55                      324.32            1,187.11               1,126.51
                   
2 Expenditure                
  a)  Staff Cost                  10.36                   45.81               42.72               415.98                   148.05                      254.57               720.41                  716.61
b)  Training expenses                        -                           -                       -                   92.27                     19.91                        35.38                 88.13                  167.72
c)  Other Expenditure                    9.21                   39.36               33.20               158.25                     91.89                        88.34               270.35                  323.51
d)  Advertisement & Sales Promotion Expenses                        -                           -                       -                   44.28                     (0.57)                          2.77                 37.34                  151.64
e)  Rental Expenses                    0.02                     7.79                 0.27                 25.05                     30.45                        59.33               180.88                  114.16
f)  Royalty                        -                           -                       -                   65.28                     28.24                        44.01               145.22                  140.58
g)  Bad Debts/ Doubtful Assets Written Off                        -                           -                       -                        -                            -                               -                         -                            -  
g)  Loss on sale of Investments                        -                       0.73                 3.59                   5.63                          -                            0.73                   3.59                      5.63
  h)  Depreciation , Amortisation & Impairment                    4.82                     5.82               19.60                 37.31                     15.19                        19.28                 60.69                    54.88
  j) Total                  24.41                   99.51               99.38               844.05                   333.16                      504.41            1,506.62               1,674.73
3 Profit /(Loss) from Operations before Other Income, Interest & Exceptional Items (1-2)                    1.01                 (66.53)             (70.56)             (212.54)                   (59.63)                    (180.09)              (319.51)                (548.22)
4 Other Income                  33.62                   34.49             104.26                 88.20                     67.14                        37.26               141.27                    91.02
5 Profit /(Loss)from Operations before Interest & Exceptional Items (3 + 4)                  34.62                 (32.04)               33.70             (124.34)                       7.51                    (142.83)              (178.24)                (457.20)
6 Interest                    1.06                     0.15                 4.49                   1.09                       5.70                          0.28                 19.15                      1.35
  Total  (4+5)                119.13                 135.10             270.65            1,440.52                   687.05                      723.44            2,675.92               2,436.41
                 
6 Profit / (Loss) after Interest but                 (93.72)               (102.12)           (241.83)             (809.01)                 (911.77)                    (598.80)           (1,525.24)             (1,309.91)
  before Depreciation and Taxation                
                   
7 (LOSS)/ PROFIT BEFORE EXCEPTIONAL ITEM & TAX                 (98.54)               (107.94)           (261.43)             (846.32)                 (926.96)                    (618.08)           (1,585.94)             (1,364.79)
7 Profit/(Loss) from Operations before Exceptional Items (5 - 6)                  33.57                 (32.19)               29.21             (125.43)                       1.81                    (143.11)              (197.40)                (458.55)
8 Exceptional Item (Profit on Sale of Training Business )                        -                   130.76                     -                 906.44                          -                               -                         -                            -  
  Exceptional Item (Provision for income tax written back )                           -                          -                            -                               -                         -                            -  
9 Profit/(Loss) from ordinary activities before Tax  (7+ 8 )                  33.57                   98.57               29.21               781.01                       1.81                    (143.11)              (197.40)                (458.55)
                   
10 Tax Expenses                                  -        
  -  Fringe  Benefit Tax                   (0.18)                   (2.70)               (0.74)                 (8.00)                     (2.17)                        (1.50)                  (8.63)                    (9.00)
-  Income Tax - Current period                   (2.58)                 (75.00)               (2.58)               (81.45)                     (2.58)                        (6.45)                  (2.58)                  (81.45)
-  Income Tax - Earlier year (net of expenses)                   (0.00)                         -                   5.21                      -                       (0.00)                     -                     5.21                          -  
-  Wealth  Tax                   (0.81)                   (0.78)               (3.15)                 (3.13)                     (0.81)                        (0.79)                  (3.15)                    (3.13)
-  Provision for Fringe Benefit Tax of earlier years                        -                           -                       -                        -                            -                               -                         -                            -  
-  Deferred Tax                 (46.20)                 (31.57)           (146.58)               (53.04)                   (46.20)                      (46.87)              (146.58)                  (53.04)
  Total                 (49.77)               (110.05)           (147.83)             (145.62)                   (51.76)                    (111.05)              (155.73)                (146.62)
11 Profit/(Loss) from ordinary activities after Tax  (9 - 10)                 (16.20)                 (11.48)           (118.63)               635.39                   (49.96)                    (254.16)              (353.13)                (605.17)
12 Extraordinary  Items                        -                           -                       -                        -                            -                               -                         -                            -  
13 Net Profit / (Loss) for the period (11 +- 12)                 (16.20)                 (11.48)           (118.63)               635.39                   (49.96)                    (254.16)              (353.13)                 (605.17)
14 Paid-up Equity Share Capital                284.89                 284.89             284.89               284.89                   284.89                      284.89               284.89                  284.89
  (Nominal Value of Rs.100/- each)
15 Reserves excluding revaluation reserve                           -            1,838.13            1,956.77                          -                               -                 414.56                  716.22
16 Basic & Diluted EPS before and after Extraordinary items for the period. (not to be annualized) (Rs.)                   (5.69)                   (4.03)             (41.64)               223.03                   (17.54)                      (89.21)              (123.95)                (212.42)
 
  Diluted EPS before and after Extraordinary items for the period. (not to be annualized) (Rs.)                   (5.69)                   (4.03)             (41.64)               223.03                   (17.54)                      (89.21)              (123.95)                (212.20)
 
17 Aggregate of Public Shareholding                
  (a) Number of Shares              133,952               133,952           133,952             133,952                 133,952                    133,952             133,952                133,952
  (b) Percentage of Shareholding 47.02% 47.02% 47.02% 47.02% 47.02% 47.02% 47.02% 47.02%
18 Promoters and promoter group Shareholding                
  (a) Pledged/ Encumbered NIL   NIL   NIL   NIL  
   - Number of shares                
  - Percentage of shares( as a% of the total shareholding                
   of promotor and promotor group)                
  - Percentage of shares( as a% of the total share capital                
  of the company.)                
  (b) Non - encumbered NIL   NIL   NIL   NIL  
   - Number of shares                
  - Percentage of shares( as a% of the total shareholding                
   of promotor and promotor group)                
   of promotor and promotor group)                
  of the company.)                
                   
NOTES:
1 The above results have been reviewed by the Audit Committee and were taken on record by the Board of Directors at its meeting held on April  28, 2009
2 The financial statements have been prepared in accordance with the Accounting Standard prescribed by the Institute of Chartered Accountants of India.
3 During the Previous Year w.e.f. October 24, 2007 the Company has transferred its Training Business to own subsidiary Walchand TalentFirst Ltd. resulting into profit of Rs.906.44 lacs.  Hence Previous year's figures are not comparable
4 Walchand TalentFirst Ltd. is a 96.68% subsidary of Walchand Peoplefirst Ltd, hence there is  Minority Interest of 3.32%.
5 In accordance  with Accounting Standard 22 " Accounting for Taxes on Income", Walchand TalentFirst Ltd has not recognised in its financial statements the deferred Tax Asset amounting to Rs 165.07 Lacs .
6 No Investor complaints were pending at opening and at the end of the quarter.
Complaints received & resolved  during the quarter -  Nil
7 Investment income includes dividend, interest on securities and profit realised on sale of investments.
8 Previous year's figures have been regrouped / rearranged wherever necessary.
Place: Mumbai,
April 28, 2009
SEGMENT - WISE REVENUE RESULTS AND CAPITAL EMPLOYED
(Rs. in Lacs)
    STANDALONE CONSOLIDATED
  PARTICULARS Quarter  Ended Year  Ended Quarter  Ended Year  Ended
    31-Mar 31-Mar 31-Mar 31-Mar
    Unaudited Audited Unaudited Audited
    2009 2008 2009 2008 2009 2008 2009 2008
1 Segment Revenue:                
  a) Investment activities 25.42 32.98 28.82 66.17 25.42 32.98 28.82 133.64
  b) Training & Consulting Income                        -   0.00                     -   497.87 266.69 290.68 1176.50 992.87
  c) Profit from slump sale                        -                         -                 906.44                          -                               -                         -                            -  
  d) Unallocated                        -                           -                       -                        -          
  Net Income from Operations 25.42 32.98 28.82 1470.48 292.11 323.66 1205.32 1126.51
2 Segment Results (PBIT)                
  a) Investment activities                    1.01 (26.01)             (70.56) 114.55 87.06 30.32 15.49 30.32
  b) Training & Consulting  Income                        -   (40.12)                     -   (154.66) (5.04) (173.14) (193.73) (487.52)
  c) Profit from slump sale                        -                           -                       -                 906.44                          -                               -                         -                            -  
  Total                    1.01                 (66.13)             (70.56)               866.33                     82.02                    (142.82)              (178.24)                (457.20)
  Less : i)  Interest Expenses                   (1.06)                   (0.15)               (4.49)                 (1.09)                     (5.70)                        (0.28)                (19.15)                    (1.35)
             ii) Loss on Sales of Investments                        -                           -                       -                        -                            -                               -                         -                            -  
             ii) Unallocable Expenses (net of unallocable income)                  33.62                   34.09             104.26               (84.23)                   (74.13)                             -                         -    
                   
  Total Profit Before Taxation 33.57 (32.19) 29.21 781.01 2.19 (143.10) (197.39) (458.55)
3 Capital Employed (Segment Assets-Segment Liabilities)                
                   
  a) Investment activities                 445.99 605.91                   445.99 558.47
  b) Training & Consulting Income                         -   0.00                    (55.75) 96.05
  c) Unallocated               (176.77) (70.91)                   350.71 339.90
  Total                 269.22               535.00                          -                               -                 740.95                  994.41
                   
                   
Mumbai
April 28, 2009