Bang Overseas Ltd. announced at the board meeting held on February 14, 2013, the company approved change in designation of Mr. Brijgopal Bang from Managing Director to Chairman and Managing Director of the company, appointment of Mr. Subrata Kumar Dey as the Non Executive & Independent Director of the Company and appointment of Mr. Purushottam Ramanujdas Bang as an Additional Director (Executive) of the company.

Bang Overseas Ltd. reported unaudited standalone earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales (net of excise duty) of INR 591.117 million compared to INR 307.611 million a year ago. Profit from operations before other income, finance costs and exceptional items of INR 14.335 million compared to loss of INR 4.135 million a year ago. Profit from ordinary activities before tax of INR 11.3 million compared to loss of INR 18.068 million a year ago. Net profit was INR 7.450 million or INR 0.55 per diluted share compared to loss of INR 18.068 million or INR 1.33 per diluted share a year ago. For nine months, the company reported net sales (net of excise duty) of INR 1,641.065 million compared to INR 993.666 million a year ago. Profit from operations before other income, finance costs and exceptional items of INR 44.425 million compared to INR 46.447 million a year ago. Profit from ordinary activities before tax of INR 32.765 million compared to INR 7.950 million a year ago. Net profit was INR 22.965 million or INR 1.69 per diluted share compared to INR 0.3 million or INR 0.02 per diluted share a year ago.

Bang Overseas Ltd., Board Meeting, Feb 14, 2013. Agenda: To consider, approve and take on record the un-audited financial results for the quarter ended December 31, 2012; to consider the change in designation of Mr. Venugopal Bang from Chairman & Executive Director to Executive Director of the company; to consider the change in designation of Mr. Brijgopal Bang from Managing Director to Chairman & Managing Director of the company; and to consider the appointment of Mr. Subrata Kumar Day as the non-executive & independent director of the company.