Financial Results 30 Sep,GIL

GRAPHITE INDIA LIMITED

Back

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

Unaudited Financial Results for the quarter and the half year ended 30th September, 2007

					(Rs.in Lakh)
	Quarter ended		Half year ended		Year ended
Particulars	30th September		30th September		31st March,
					2007
	2007	2006	2007	2006	(Audited)
Gross Sales/Income from Operations	27,799	22,707	50,501	41,366	90,001
Less: Excise Duty on Sales	1,300	1,131	2,600	2,109	5,016
Net Sales/Income from Operations	26,499	21,576	47,901	39,257	84,985
Other Income	1,160	823	2,886	1,204	3,833
Total Income	27,659	22,399	50,787	40,461	88,818

Expenditure
(Increase)/decrease in stock in trade and Work in Progress	(1,495)	(2,188)	(5,705)	(5,092)	(7,085)
Consumption of raw materials	11,542	10,102	23,119	18,505	38,556
Consumption of stores and spare parts	2,853	2,467	5,335	4,579	9,983
Purchase of traded goods	-	-	-	-	-
Employee cost	1,883	1,384	3,673	3,002	6,342
Electricity charges	2,239	1,853	4,565	3,688	8,657
Depreciation	829	728	1,674	1,452	2,993
Other expenditure	3,500	3,284	6,198	6,109	11,986

Total	21,351	17,630	38,859	32,243	71,432

Interest	933	818	1,894	1,483	3,215
Exceptional item (Note-3)	-	-	-	9,612	9,624

Profit from Ordinary Activities before tax	5,375	3,951	10,034	16,347	23,795

Tax expense (Net) (Note-8)	1,580	1,208	2,955	2,073	4,408
Net Profit from Ordinary Activities after tax	3,795	2,743	7,079	14,274	19,387
Extraordinary Items	-	-	-	-	-
Net Profit for the period	3,795	2,743	7,079	14,274	19,387
Paid-up equity share capital ( Face Value Rs.2/- each )	2,938	2,938	2,938	2,938	2,938
Reserves excluding Revaluation Reserve	-	-	-	-	56,481
Earnings Per Share (EPS)-Face Value Rs.2/- each
Basic EPS (Rs.)	2.58	1.87	4.82	9.72	13.2
Diluted EPS (Rs.)	1.99	1.87	3.43	9.72	10.9
Basic EPS excluding Exceptional item (Rs.)	2.58	1.87	4.82	3.17	7.38
Diluted EPS excluding Exceptional item (Rs.)	1.99	1.87	3.43	3.17	6.10
Aggregate of public shareholding
- Number of shares	68,864,080	67,614,080	68,864,080	67,614,080	68,864,080
- Percentage of shareholding	46.88	46.03	46.88	46.03	46.88

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,
						2007
		2007	2006	2007	2006	(Audited)
1	SEGMENT REVENUE -
	Graphite and Carbon	24,380	20,748	43,978	36,333	78,255
	Power	2,041	1,958	3,448	3,486	6,714
	Unallocated	2,545	1,315	4,820	3,697	8,479
	Total	28,966	24,021	52,246	43,516	93,448
	Less: Inter Segment Revenue	2,467	2,445	4,345	4,259	8,463
	Sales/Income from Operations-Net	26,499	21,576	47,901	39,257	84,985

2	SEGMENT RESULTS -
	Profit before tax and interest
	Graphite and Carbon	4,772	3,373	8,234	15,869	21,537
	Power	986	875	1,287	1,474	3,025
	Unallocated	3	192	513	749	1,381
	Total	5,761	4,440	10,034	18,092	25,943
	Less:
	Interest	933	818	1,894	1,483	3,215
	Other un-allocable expenditure/(income) (net)	(547)	(329)	(1,894)	262	(1,067)
	Total Profit Before Tax	5,375	3,951	10,034	16,347	23,795

3	CAPITAL EMPLOYED -
	(Segment Assets - Segment Liabilities)
	Graphite and Carbon	89,219	78,569	89,219	78,569	83,674
	Power	7,877	8,515	7,877	8,515	8,096
	Unallocated	8,436	7,153	8,436	7,153	8,358
	Total	105,532	94,237	105,532	94,237	100,128

* includes Exceptional item (Note-3)

Notes :

The above results have been reviewed by the Audit Committee and approved by the Board at its meeting held on 29th October, 2007. 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, 2007 in terms of Clause 41 of the Listing Agreement with Stock Exchanges.

Other Income for the quarter and the half year ended 30th September, 2007 includes foreign exchange gain (net) of Rs.565 lakh and Rs.1872 lakh respectively.

Exceptional item represents profit arising from the sale of a part of land at Bangalore.

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, 2007 being more 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 dilutive and accordingly has been taken into account for computation of diluted earnings per share for the quarter and the half year ended 30th September, 2007.

Pursuant to sub-division of the Company's equity shares of Rs.10/- each fully paid-up into five equity shares of Rs.2/- each fully paid-up in December, 2006, EPS for the corresponding quarter and the half year ended 30th September, 2006 has been restated based on the revised number of shares. Further, comparative figure relating to number of shares shown under "Aggregate of public shareholding" has also been restated.

No investor complaint was pending at the beginning of the quarter ended 30th September, 2007. During the quarter, twelve complaints were received. All the complaints were disposed off / attended to and no complaint was pending as on 30th September, 2007.

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

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

By order of the Board
For Graphite India Limited

Place : Kolkata
Date : 29th October , 2007.

K.K.Bangur
Chairman