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GRAPHITE
INDIA LIMITED |
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(
Regd. Office : 31, Chowringhee Road, Kolkata 700 016 ) |
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| Audited
Financial Results for the year ended 31st March,
2008 |
(Rs.
in Lakh) |
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For the |
For the |
For the |
Consolidated |
| Particulars |
nine months |
quarter ended |
year ended |
for the year ended |
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ended |
31.03.2008 |
31.03.2007 |
31.03.2008 |
31.03.2007 |
31.03.2008 |
31.03.2007 |
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31.12.2007 |
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Audited |
Audited |
Audited |
Audited |
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| Sales/Income from Operations (Gross) |
79,567 |
36,020 |
25,667 |
115,587 |
90,001 |
138,836 |
117,094 |
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Less: Excise Duty on Sales |
3,943 |
1,739 |
1,590 |
5,682 |
5,016 |
5,682 |
5,016 |
| Sales/Income from Operations (Net) |
75,624 |
34,281 |
24,077 |
109,905 |
84,985 |
133,154 |
112,078 |
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| Other Income |
3,026 |
415 |
1,076 |
3,621 |
3,836 |
2,944 |
3,512 |
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| Total Income |
78,830 |
34,696 |
25,783 |
113,526 |
88,821 |
136,098 |
115,590 |
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| Total Expenditure |
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(Increase)/decrease in stock in trade |
(5,967) |
2,585 |
(219) |
(3,382) |
(7,085) |
(7,136) |
(7,297) |
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Consumption of raw materials |
35,060 |
12,346 |
9,594 |
47,406 |
38,556 |
53,942 |
43,090 |
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Consumption of stores and spare parts |
8,517 |
3,588 |
2,850 |
12,105 |
9,983 |
14,829 |
13,082 |
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Staff cost |
5,563 |
2,031 |
1,821 |
7,594 |
6,342 |
13,010 |
11,716 |
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Electricity charges |
6,972 |
2,099 |
2,826 |
9,071 |
8,657 |
13,781 |
13,025 |
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Other expenditure |
9,316 |
3,797 |
3,170 |
13,113 |
11,989 |
16,972 |
16,001 |
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| Profit before Interest, Depreciation, Tax and Non-recurring Item |
19,369 |
8,250 |
5,303 |
27,619 |
20,379 |
30,700 |
25,973 |
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| Interest |
2,792 |
778 |
852 |
3,570 |
3,215 |
4,290 |
3,705 |
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| Profit before Depreciation, Tax and Exceptional Item |
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16,577 |
7,472 |
4,451 |
24,049 |
17,164 |
26,410 |
22,268 |
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| Depreciation |
2,517 |
833 |
807 |
3,350 |
2,993 |
4,103 |
3,771 |
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| Profit before Tax and Exceptional Item |
14,060 |
6,639 |
3,644 |
20,699 |
14,171 |
22,307 |
18,497 |
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| Add:Exceptional item (Note 4) |
- |
- |
- |
9,624 |
- |
9,624 |
- |
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| Profit from Ordinary Activities before tax |
14,060 |
6,639 |
3,644 |
20,699 |
23,795 |
22,307 |
28,121 |
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| Tax expense(Net) |
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- Current(Note-10) |
4,122 |
2,368 |
1,423 |
6,490 |
4,585 |
7,231 |
6,062 |
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- Earlier Years |
- |
844 |
(185) |
844 |
(177) |
842 |
(177) |
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| Net Profit for the peroid |
9,938 |
3,427 |
2,406 |
13,365 |
19,387 |
14,234 |
22,263 |
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| Paid-up Equity Share Capital |
2,984 |
3,022 |
2,938 |
3,022 |
2,938 |
3,022 |
2,938 |
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( Face Value Rs.2 each ) |
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| Reserves excluding Revaluation Reserve |
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66,769 |
56,481 |
72,498 |
61,409 |
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Earning per share (EPS.)-Face ValueRs 2/- each |
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| Basic EPS(Rs) |
6.76 |
2.32 |
1.64 |
9.03 |
13.20 |
9.62 |
15.14 |
| Diluted EPS(Rs) |
5.04 |
2.00 |
1.24 |
7.02 |
10.90 |
7.50 |
12.50 |
| Basic EPS excluding Exceptional Item (Rs.) |
6.72 |
2.32 |
1.64 |
9.03 |
7.38 |
9.62 |
9.32 |
| Diluted EPS excluding Exceptional Item (Rs.) |
5.04 |
2.00 |
1.24 |
7.02 |
6.10 |
7.50 |
7.70 |
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Public Shareholding |
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- Number of shares |
71,157,824 |
72,886,015 |
68,864,080 |
72,886,015 |
68,864,080 |
72,886,015 |
68,864,080 |
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- Percentage of shareholding |
47.70 |
48.24 |
46.88 |
48.24 |
46.88 |
48.24 |
46.88 |
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| Segment Reporting as per Clause 41 of the Listing Agreement |
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(Rs. in Lakh) |
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Particulars |
For the |
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For the |
For the |
Consolidated |
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nine months |
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quarter ended |
year ended |
for the year ended |
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ended |
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31.03.2008 |
31.03.2007 |
31.03.2008 |
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31.03.2007 |
31.03.2008 |
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31.03.2007 |
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31.12.2007 |
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Audited |
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Audited |
Audited |
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Audited |
| 1 |
SEGMENT REVENUE - |
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Graphite and Carbon |
69,326 |
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31,152 |
22,493 |
100,478 |
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78,255 |
123,976 |
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105,008 |
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Power |
5,539 |
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2,106 |
1,463 |
7,645 |
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6,714 |
7,645 |
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6,714 |
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Others |
7,717 |
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3,557 |
2,092 |
11,274 |
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8,479 |
11,542 |
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8,819 |
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Total |
82,582 |
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36,815 |
26,048 |
119,397 |
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93,448 |
143,163 |
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120,541 |
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Less: Inter Segment Revenue |
6,958 |
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2,534 |
1,971 |
9,492 |
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8,463 |
10,009 |
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8,463 |
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Excise duty on Sales |
- |
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- |
- |
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- |
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Net Sales/Income from Operations |
75,624 |
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34,281 |
24,077 |
109,905 |
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84,985 |
133,154 |
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112,078 |
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| 2 |
SEGMENT RESULTS - |
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Profit before tax and interest |
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Graphite and Carbon |
11,821 |
* |
7,359 |
3,166 |
19,180 |
* |
21,537 |
22,637 |
* |
26,861 |
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Power |
2,040 |
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761 |
729 |
2,801 |
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3,025 |
2,801 |
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3,025 |
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Others |
1,102 |
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415 |
107 |
1,517 |
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1,381 |
1,106 |
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1,717 |
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Total |
14,963 |
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8,535 |
4,002 |
23,498 |
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25,943 |
26,544 |
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31,603 |
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Less: |
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Interest |
2,792 |
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778 |
852 |
3,570 |
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3,215 |
4,290 |
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3,705 |
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Other un-allocable expenditure/(Income) - net |
(1,889) |
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1,118 |
(494) |
(471) |
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(1,067) |
(53) |
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223 |
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Total Profit Before Tax |
14,060 |
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6,639 |
3,644 |
20,669 |
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23,795 |
22,307 |
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28,121 |
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| 3 |
CAPITAL EMPLOYED - |
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(Segment Assets - Segment Liabilities) |
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Graphite and Carbon |
90,290 |
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92,140 |
83,674 |
92,140 |
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83,674 |
104,761 |
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94,645 |
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Power |
7,815 |
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7,328 |
8,096 |
7,328 |
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8,096 |
7,328 |
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8,096 |
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Others |
8,819 |
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9,127 |
8,358 |
9,127 |
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8,358 |
10,278 |
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10,142 |
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Total |
106,924 |
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108,595 |
100,128 |
108,595 |
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100,128 |
122,367 |
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112,883 |
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| * including non-recurring item Rs.9624 Lakh as indicated in Note 3 below. |
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Notes
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| 1 |
The above results have been reviewed by Audit Committee and approved by the Board at its meeting held on 15th June, 2007. |
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| 2 |
The
consolidated financial results relate to Graphite India Limited (the
parent Company), Carbon Finance Limited, Graphite International B.V.
and Carbon International Holding N.V. which are wholly owned
subsidiaries of the Company. |
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| 3 |
Non-recurring item represents profit (net) arising from the sale of a part of land at Bangalore. |
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| 4 |
Generation of power at hydro electrical plants is seasonal in nature. |
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| 5 |
In
terms of the resolution passed at the Extraordinary General meeting
held on 1st December, 2006, the Company sub-divided each of the equity
share of the nominal value of Rs.10 each fully paid-up in the capital
of the Company into five equity shares of Rs.2 each fully paid-up.
Pursuant to such sub-division of shares, earnings per share for the
previous periods has been restated based on revised number of Shares.
Further, comparative figures relating to number of shares shown under
'Aggregate of public shareholding' have also been restated. |
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| 6 |
In
view of the average market price of the equity shares of the Company
relevant for the quarter ended 31st March, 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 dilutive and accordingly diluted earning per share has
been calculated for the quarter and for the year. |
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| 7 |
Effective
1stApril, 2006 the company has adopted the Accounting Standard (AS) 15
(Revised) on ‘Employee Benefits’ issued by the Institute of Chartered
Accountants of India and revised its accounting policy in respect of
employee benefits. Pursuant to the adoption of AS 15, an amount of
Rs.299 Lakh (Net of tax effect of Rs.152 Lakh), arising upon
remeasurement of certain employee benefit obligations, as on 1st April,
2006 has been recognised with corresponding adjustment against General
Reserve in keeping with transitional provisions of the aforesaid AS. |
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| 8 |
The
Board has recommended a Special and Final Dividend of Re.1 per
share (50%) for the financial year 2006-07. Together with the Interim
Dividend of Rs.2 per share (100%) already declared and paid, the
total Dividend for the financial year amounts to Rs.3 per share
(150%). |
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| 9 |
No
investor complaint was pending at the beginning of the quarter ended
31st March, 2007. During the quarter, eleven complaints were received.
All the complaints were disposed off and there were no complaints
pending as of 31st March, 2007. |
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| 10 |
Figures for the previous year / period have been re-grouped / re-arranged where necessary. |
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