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 31st December, 2006

						(Rs.in Lakh)
		Quarter ended		Half year ended		Year ended
Particulars		31st December		31st December		31st March,
						2006
		2006	2005	2006	2005	(Audited)

Sales/Income from Operations-Gross		22,968	17,496	64,334	44,298	64,940
	Less: Excise Duty on Sales	1,317	925	3,426	2,593	3,541
Sales/Income from Operations-Net		21,651	16,571	60,908	41,705	61,399

Other Income		923	332	2,127	909	1,728

Total Income		22,574	16,903	63,035	42,614	63,127

Total Expenditure

	(Increase)/decrease in stock in trade	(2,212)	(1,917)	(7,304)	(4,089)	(4,618)
	Consumption of raw materials	10,589	7,332	29,145	18,846	26,560
	Consumption of stores and spare parts	2,422	1,833	6,950	5,349	7,684
	Staff cost	1,519	1,254	4,521	3,517	4,933
	Electricity charges	2,143	1,562	5,831	4,263	6,162
	Other expenditure	2,707	2,584	8,816	6,594	9,530

Profit before Interest, Depreciation, Tax and Non-recurring Item		5,406	3,485	15,076	8,134	12,876

Interest		880	537	2,363	1,313	2,001

Profit after Interest		4,526	2,948	12,713	6,821	10,875

Depreciation		734	663	2,186	1,831	2,476

Profit before Tax and Non-recurring Item		3,792	2,285	20,151	4,990	8,399

Add: Non-recurring item [Note 3]		12-	-	9624	-	-

Profit before Tax		3,804	2,285	10,527	4,990	8,399

Provision for Taxation - Current		780	215	2,235	425	733
	- Less:MAT Credit	-	-	-	-	(190)
	- Earlier Years	-	-	8	-	261
	- Deferred	307	530	872	975	1,235
	- Fringe Benefit	10	20	50	52	65

Net Profit		2,707	1,520	16,981	3,538	6,295

Paid-up Equity Share Capital		2,938	2,938	2,938	2,938	2,938
	( Face Value Rs.10/- each )

Reserves excluding Revaluation Reserve						42,461

Basic and Diluted Earnings per share (Rs.)		1.84	1.03	11.56	2.41	4.29

Basic and Diluted Earnings per share excluding Non-recurring Item (Rs.)		1.83	1.03	5.01	2.41	4.29

Aggregate of public shareholding
	- Number of shares	68,864,080	68,447,920	68,864,080	68,447,920	68,447,920
	- Percentage of shareholding	46.88	46.60	46.88	46.60	46.60

Segment Reporting as per Clause 41 of the Listing Agreement

						(Rs.in Lakh)

	Particulars	Quarter ended		Half year ended		Year ended
		31st December		31st December		31st March,
						2006
		2006	2005	2006	2005	(Audited)
1	SEGMENT REVENUE -

	Graphite and Carbon	19,429	15,400	55,762	39,266	56,888
	Power	1,765	1,743	5,251	4,830	7,285
	Others	2,690	1,421	6,387	3,053	5,341
	Total	23,884	18,564	67,400	47,149	69,514

	Less: Inter Segment Revenue	2,233	1,993	6,492	5,444	8,115

	Sales/Income from Operations-Net	21,651	16,571	60,908	41,705	61,399

2	SEGMENT RESULTS -
	Profit before tax and interest

	Graphite and Carbon	2,553	2,132	18,422	4,775	6,733
	Power	822	612	2,296	1,625	2,959
	Others	525	275	1,274	491	987
	Total	3,900	3,019	21,992	6,891	10,679
	Less:
	Interest	880	537	2,363	1,313	2,001
	Other un-allocable expenditure/(income) - net	(784)	197	(522)	588	279
	Total Profit Before Tax	3,804	2,285	20,151	4,990	8,399

3	CAPITAL EMPLOYED -
	(Segment Assets - Segment Liabilities)

	Graphite and Carbon	82,367	64,633	82,367	64,633	68,966
	Power	8,111	9,089	8,111	9,089	8,616
	Others	7,547	4,262	7,547	4,262	5,646
	Total	98,025	77,984	98,025	77,984	83,228

* including non-recurring item Rs.9612 Lakh as indicated in Note 3 below.

Notes :

The above results have been reviewed by Audit Committee and approved by the Board at its meeting held on 30th October, 2006. The Auditors of the Company have carried out a Limited Review of the financial results for the quarter and the half year ended 31st December, 2006 in terms of Clause 41 of the Listing Agreement with Stock Exchanges.

The Board of Directors at its meeting held on 31st December, 2006 have decided to split the face value of equity share in the Company from the present value of Rs.10/- each to Rs.2/- each, subject to the compliance of related formalities.

Non-recurring item represents profit arising from the sale of a part of land at Bangalore.

In view of the average market price of equity shares of the Company being less than the applicable conversion price, the conversion price 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.

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

No investor complaint was pending at the beginning of the quarter ended 31st December, 2006. During the quarter, six complaints were received. Five complaints were disposed off / attended to and one complaint was pending as of 31st December, 2006.

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 January , 2007..

K.K.Bangur
Chairman