Financial Results 30 Sep,GIL

GRAPHITE INDIA LIMITED

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( Regd. Office : 31, Chowringhee Road, Kolkata 700 016 )

Unaudited Financial Results for the quarter and the half year ended 30th September, 2009

						(Rs.in Lakh)
		Quarter ended		Half year ended		Year ended
Particulars		30th September		30th September		31st March 09

		2009	2008	2009	2008	(Audited)
Gross Sales/Income from Operations		29,214	40,333	53,665	68,942	1,18,273
	Less: Excise Duty on Sales	1,289	2,130	2,296	3,479	5,685
Net Sales/Income from Operations		27,925	38,203	51,369	65,463	1,12,588
Other Operating Income		-	-	-	-	-
Total Income		27,925	38,203	51,369	65,463	1,12,588

Expenditure
	(Increase)/decrease in stock in trade and Work in Progress	1,529	(254)	3,430	(5,423)	(11,511)
	Consumption of raw materials	7,585	14,766	14,436	28,301	49,576
	Consumption of stores and spare parts	1,821	4,513	3,616	8,245	14,336
	Purchase of traded goods	-	-	-	-	-
	Employee cost	1,740	1,906	3,587	3,886	7,499
	Electricity charges	2,177	2,546	4,003	5,022	10,350
	Depreciation	972	837	1,953	1,674	3,435
	Other expenditure	2,099	6,438	4,515	11,010	19,125
	Total	17,923	30,752	35,540	52,715	92,810

Profit from Operations before Other Income, Interest & Exceptional Items		10,002	7,451	15,829	12,748	19,778

Other Income		669	407	2,247	909	2,891

Profit before Interest & Exceptional Items		10,671	7,858	18,076	13,657	22,669

Interest		306	620	693	1,225	2,594

Profit After Interest but before Exceptional Items		10,365	7,238	17,383	12,432	20,075

Exceptional item		-	-	-	-	-

Profit from Ordinary Activities before tax		10,365	7,238	17,383	12,432	20,075

Tax expense (Net) (Note-7)		-	-	-	-	-
	-Current	3,525	2,473	6,025	4,261	(660)
	-Earlier Years	-	-	-	70	1,378
Net Profit from Ordinary Activities after tax		6,840	4,765	11,358	8,101	19,357

Extraordinary Items		-	-	-	-	-

Net Profit for the period		6,840	4,765	11,358	8,101	19,357

Paid-up equity share capital ( Face Value Rs.2/- each )		3,420	3,022	3,420	3,022	3,022

Reserves excluding Revaluation Reserve		-	-	-	-	98,419

Earnings Per Share (EPS)-Face Value Rs.2/- each
Basic EPS (Rs.)		4.00	3.15	6.64	5.36	12.55
Diluted EPS (Rs.)		4.00	3.04	6.64	4.92	12.55
Public shareholding
	- Number of shares	7,39,51,903	7,20,81,976	7,39,51,903	7,20,81,976	7,07,80,604
	- Percentage of shareholding	43.25	47.71	43.25	47.71	46.85
Promoters and Promoter group shareholding

a) Pledged/ Encumbered
	- Number of shares	-		-		-
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	-		-		-
	- Percentage of shares (as a % of the total share capital of the company)	-		-		-

b) Non-encumbered
	- Number of shares	9,70,21,234		9,70,21,234		8,03,04,197
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	100.00		100.00		100.00
	- Percentage of shares (as a % of the total share capital of the company)	56.75		56.75		53.15

Segment Reporting as per Clause 41 of the Listing Agreement

				(Rs.in Lakh)
	Particulars	Quarter ended		Half year ended		Year ended
		30th September		30th September		31st March,
						2009
		2009	2008	2009	2008	(Audited)
1	SEGMENT REVENUE -
	Graphite and Carbon	23,044	37,685	43,090	63,647	1,05,008
	Power	512	1,836	1,055	3,562	5,996
	Steel	1,491	-	2,909	-	923
	Unallocated	3,595	1,062	5,739	2,884	8,841
	Total	28,642	40,583	52,793	70,093	1,20,768
	Less: Inter Segment Revenue	717	2,380	1,424	4,630	8,180
	Sales/Income from Operations-Net	27,925	38,203	51,369	65,463	1,12,588

2	SEGMENT RESULTS -
	Profit before tax and interest
	Graphite and Carbon	8,819	8,940	15,284	15,460	23,725
	Power	522	823	559	999	1,709
	Steel	(271)	-	(497)	-	(154)
	Unallocated	1,612	190	2,027	830	1,898
	Total	10,682	9,953	17,373	17,289	27,178
	Less:
	Interest	306	620	693	1,225	2,594
	Other un-allocable expenditure/(income) (net)	11	2,095	(703)	3,632	4,509
	Total Profit Before Tax	10,365	7,238	17,383	12,432	20,075

3	CAPITAL EMPLOYED -
	(Segment Assets - Segment Liabilities)
	Graphite and Carbon	98,015	97,038	98,015	97,038	90,963
	Power	6,330	7,016	6,330	7,016	6,535
	Steel	17,824	-	17,824	-	18,584
	Unallocated	8,473	9,372	8,473	9,372	9,199
	Total	1,30,642	1,13,426	1,30,642	1,13,426	1,25,281

Notes :

The above results have been reviewed by the Audit Committee and approved by the Board at its meeting held on 23rd October, 2009. The Auditors of the Company have carried out a Limited Review of the financial results for the quarter and the half year ended 30th September, 2009 in terms of Clause 41 of the Listing Agreement with Stock Exchanges.

Other income for the quarter and the half year ended 30th September, 2009 includes exchange gain of Rs.107 lakhs and Rs.1111 lakhs respectively, whereas Other expenditure for the corresponding quarter and the half year ended 30th September, 2008 includes exchange loss of Rs.2605 lakhs and Rs.3919 lakhs respectively, such loss for the year ended 31st March, 2009 being Rs.6270 lakhs.

Paid up Equity Share Capital as on 31st March, 2009 does not include Rs.397.76 lakhs being the face value of equity shares allotted on 7th July, 2009 pursuant to an approved Scheme of Arrangement. However, the above equity shares have been considered for the purpose of computation of earnings per share for the aforesaid period.

Generation of power at hydro electrical plants is seasonal in nature.

In view of the average market price of the equity shares of the Company relevant for the quarter ended 30th September, 2009 being less than the applicable conversion price, the conversion option embedded in the 1% Foreign Currency Convertible Bonds (FCCB) issued on 19th October, 2005 is considered as anti dilutive and accordingly has not been taken into account for computation of diluted earnings per share for the quarter and the half year ended 30th September, 2009.

No investor complaint was pending at the beginning of the quarter ended 30th September, 2009. During the quarter, eight complaints were received. All the complaints were disposed off / attended to and no complaint was pending as on 30th September, 2009.

Tax expense comprises current tax, deferred tax and fringe benefit tax, where applicable.

Figures for the previous year / period have been re-grouped / re-arranged wherever necessary.

By order of the Board
For Graphite India Limited

Place : Kolkata
Date : 23rd October , 2009.

K.K.Bangur
Chairman