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 nine months ended 31st December,2008

					(Rs.in Lakh)
	Quarter ended		Nine months ended		Year ended
Particulars	31st December		31st December		31st March,
					2008
	2008	2007	2008	2007	(Audited)
Gross Sales/Income from Operations	28,154	29,066	97,096	79,567	115,587
Less: Excise Duty on Sales	1,363	1,343	4,842	3,943	5,682
Net Sales/Income from Operations	26,791	27,723	92,254	75,624	109,905
Other Operating Income	-	-	-	-	-
Total Income	26,791	27,723	92,254	75,624	109,905

Expenditure
(Increase)/decrease in stock in trade and Work in Progress	(6,111)	(262)	(11,534)	(5,967)	(3,382)
Consumption of raw materials	14,511	11,941	42,812	35,060	47,406
Consumption of stores and spare parts	3,886	3,182	12,131	8,517	12,105
Purchase of traded goods	-	-	-	-	-
Employee cost	1,896	1,890	5,782	5,563	7,594
Electricity charges	3,116	2,407	8,138	6,972	9,071
Depreciation	827	843	2,501	2,517	3,350
Other expenditure	4,009	3,118	15,019	9,316	13,113

Total	22,134	23,119	74,849	61,978	89,257
Profit from Operations before Other Income, Interest & Exceptional Items	4,657	4,604	17,405	13,646	20,648
Other Income	488	320	1,397	3,206	3,621
Profit before Interest & Exceptional Items	5,145	4,924	18,802	16,852	24,269

Interest	586	898	1,811	2,792	3,570
Profit After Interest but before Exceptional Items	4,559	4,026	16,991	14,060	20,699
Exceptional items	-	-	-	-	-

Profit from Ordinary Activities before tax	4,559	4,026	16,991	14,060	20,699

Tax expense (Net) (Note-6)	-	-	-	-	-
-Current	1,628	1,167	5,889	4,122	6,490
-Earlier Years	-	-	70	-	844
Net Profit from Ordinary Activities after tax	2,931	2,859	11,032	9,938	13,365
Extraordinary Items	-	-	-	-	-
Net Profit for the period	2,931	2,859	11,032	9,938	13,365
Paid-up equity share capital ( Face Value Rs.2/- each )	3,022	2,984	3,022	2,984	3,022
Reserves excluding Revaluation Reserve	-	-	-	-	66,769
Earnings Per Share (EPS)-Face Value Rs.2/- each
Basic EPS (Rs.)	1.94	1.94	7.30	6.76	9.03
Diluted EPS (Rs.)	1.94	1.57	7.30	5.04	7.02
Aggregate of public shareholding
- Number of shares	70,780,604	71,157,824	70,780,604	71,157,824	72,886,015
- Percentage of shareholding	46.85	47.70	46.85	47.70	48.24

Segment Reporting as per Clause 41 of the Listing Agreement

				(Rs.in Lakh)
	Particulars	Quarter ended		Nine months ended		Year ended
		31st December		31st December		31st March,
						2008
		2008	2007	2008	2007	(Audited)
1	SEGMENT REVENUE -
	Graphite and Carbon	24,316	25,348	87,963	69,326	100,478
	Power	1,434	2,091	4,996	5,539	7,645
	Unallocated	2,882	2,897	5,766	7,717	11,274
	Total	28,632	30,336	98,725	82,582	119,397
	Less: Inter Segment Revenue	1,841	2,613	6,471	6,958	9,492
	Sales/Income from Operations-Net	26,791	27,723	92,254	75,624	109,905

2	SEGMENT RESULTS -
	Profit before tax and interest
	Graphite and Carbon	4,428	3,587	19,888	11,821	19,180
	Power	446	753	1,445	2,040	2,801
	Unallocated	747	589	1,577	1,102	1,517
	Total	5,621	4,929	22,910	14,963	23,498
	Less:
	Interest	586	898	1,811	2,792	3,570
	Other un-allocable expenditure/(income) (net)	476	5	4,108	(1,889)	(771)
	Total Profit Before Tax	4,559	4,026	16,991	14,060	20,699

3	CAPITAL EMPLOYED -
	(Segment Assets - Segment Liabilities)
	Graphite and Carbon	96,650	90,290	96,650	90,290	92,140
	Power	6,934	7,815	6,934	7,815	7,328
	Unallocated	9,527	8,819	9,527	8,819	9,127
	Total	113,111	106,924	113,111	106,924	108,595

Notes :

The above results have been reviewed by the Audit Committee and approved by the Board at its meeting held on 30th January, 2009. The Auditors of the Company have carried out a Limited Review of the financial results for the quarter and the nine months ended 31st December, 2008 in terms of Clause 41 of the Listing Agreement with Stock Exchanges.

Other expenditure for the quarter and the nine months ended 31st December, 2008 includes exchange loss of Rs.1079 lakhs and Rs.4998 lakhs respectively, whereas Other income for the corresponding quarter and the nine months ended 31st December, 2007 includes exchange loss of Rs.218 lakhs and exchange gain of Rs.1654 lakhs respectively, such gain for the year ended 31st March, 2008 being Rs.1444 lakhs.

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 31st December, 2008 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 nine months ended 31st December, 2008.

The Company has decided to adopt a more resilient and dynamic production programme in view of the current global recession. This may have an impact on the results of the Company in the ensuing period.

No investor complaint was pending at the beginning of the quarter ended 31st December, 2008. During the quarter, seven complaints were received. All the complaints were disposed off / attended to and no complaint was pending as on 31st December, 2008.

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

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 : 24th October , 2008.

K.K.Bangur
Chairman