Balance sheet 30 Mar,Graphite

GRAPHITE INDIA LIMITED

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

Audited Financial Results for the year ended 31st March, 2009

(Rs. in Lakhs)

	For the		Consolidated
Particulars	year ended		for the year ended
	31.03.2009	31.03.2008	31.03.2009	31.03.2008
	Audited	Audited	Audited	Audited

Gross Sales/Income from Operations	118,273	115,587	155,786	138,836
Less: Excise Duty on Sales	5,685	5,682	5,685	5,682
Net Sales/Income from Operations	112,588	109,905	150,101	133,154

Other Operating Income	-	-	-	-

Total Income	112,588	109,905	150,101	133,154

Expenditure

(Increase)/decrease in stock in trade and work in progress	(11,511)	(3,382)	(8,989)	(7,136)
Consumption of raw materials	49,576	47,406	57,732	53,942
Consumption of stores and spare parts	14,336	12,105	18,034	14,829
Purchase of traded goods	-	-	-	-
Employee cost	7,499	7,594	13,499	13,010
Electricity charges	10,350	9,071	15,923	13,781
Depreciation	3,435	3,350	4,404	4,103
Other expenditure	19,125	13,113	23,143	16,972
Total	92,810	89,257	123,746	109,501

Profit from Operations before Other Income, Interest & Exceptional Items	19,778	20,648	26,355	23,653

Other Income	2,891	3,621	2,532	2,944

Profit before Interest & Exceptional Items	22,669	24,269	28,887	26,597

Interest	2,594	3,570	3,510	4,290

Profit after Interest but before Exceptional Items	20,075	20,699	25,377	22,307

Exceptional items	-	-	-	-

Profit from Ordinary Activities before Tax	20,075	20,699	25,377	22,307

Tax expense(Net)
- Current	2,350	5,800	3,487	6,563
-MAT Credit	(2,350)	-	(2,350)	-
- Earlier Years	1,378	844	1,379	842
- Deferred	(725)	620	(756)	598
- Fringe Benefit	65	70	65	70

Net Profit From Ordinary Activities after Tax	19,357	13,365	23,552	14,234

Extraordinary Item	-	-	-	-

Net Profit For the Period	19,357	13,365	23,552	14,234
Pai-up equity share capital	3,022	3,022	3,022	3,022
( Face Value Rs.2/- each )[Note 4(iii)]

Reserves excluding Revaluation Reserve	98,419	66,769	108,457	72,498

Earning per share (EPS.)-Face ValueRs 2/- each [Note 4(iii)]
Basic EPS(Rs)	12.55	9.03	15.26	9.62
Diluted EPS(Rs)	12.55	7.02	15.26	7.50
Public Shareholding
- Number of shares	70,780,604	72,886,015	70,780,604	72,886,015
- Percentage of shareholding	46.85	48.24	46.85	48.24

Promoters and Promoter Group
a) Pledged/Encumbered
-Number Of Shares	Nil		Nil
-Percentage Of shares(as a % of the total shareholding of the promoter and promoter group)	Nil		Nil
-Percentage Of shares(as a % of the total share capital of the company)	Nil		Nil

b) Non-encumbered
-Number Of Shares	80,304,197		80,304,197
-Percentage Of shares(as a % of the total shareholding of the promoter and promoter group)	100		100
-Percentage Of shares(as a % of the total share capital of the company)	53.15		53.15

Segment Reporting as per Clause 41 of the Listing Agreement
				(Rs. in Lakh)
	Particulars	For the		Consolidated
		year ended		for the year ended
		31.03.2009	31.03.2008	31.03.2009	31.03.2008
		Audited	Audited	Audited	Audited
1	SEGMENT REVENUE -

	Graphite and Carbon	105,008	100,478	142,558	123,976
	Power	5,996	7,645	5,996	7,645
	Steel	923	-	923	-
	Unallocated	8,841	11,274	8,948	11,542
	Total	120,768	119,397	158,425	143,163

	Less: Inter Segment Revenue	8,180	9,492	8,324	10,009
	Sales/Income from Operations-Net	112,588	109,905	150,101	133,154

2	SEGMENT RESULTS -
	Profit before tax and interest

	Graphite and Carbon	23,725	19,180	30,718	22,637
	Power	1,709	2,801	1,709	2,801
	Steel	(154)	-	(154)	-
	Unallocated	1,898	1,517	1,861	1,106
	Total	27,178	23,498	34,134	26,544
	Less:
	Interest	2,594	3,570	3,510	4,290
	Other un-allocable expenditure/(Income) - net	4,509	(771)	5,247	(53)
	Total Profit Before Tax	20,075	20,699	25,377	22,307

3	CAPITAL EMPLOYED -
	(Segment Assets - Segment Liabilities)

	Graphite and Carbon	90,963	92,140	106,466	104,761
	Power	6,535	7,328	6,535	7,328
	Steel	18,584	-	18,584	-
	Unallocated	9,199	9,127	12,685	10,278
	Total	125,281	108,595	144,270	122,367

Notes :



1	The above results have been reviewed by the Audit Committee and approved by the Board at its meeting held on 30th June, 2009.

2	The consolidated financial results relate to Graphite India Limited (the parent Company), and its wholly owned subsidiaries Carbon Finance Limited, Graphite International B.V. and Carbon International Holdings N.V.

3	Other expenditure for the year ended 31st March, 2009 includes exchange loss of Rs.6270 lakhs, whereas Other income for the year ended 31st March, 2008 includes exchange gain of Rs.1444 lakhs. .

4	i) Pursuant to the Scheme of Arrangement (the Scheme) approved by the Shareholders and sanctioned by the Hon'ble High Court at Calcutta vide order of 22nd May, 2009, all assets and liabilities of Powmex Steels undertaking of GKW Limited (GKW) were transferred to and vested in the Company with effect from 1st February, 2009 (appointed date).
	ii) Pursuant to the Scheme, 19,888,336 Equity Shares of Rs. 2/- each fully paid up ranking pari-passu in all respects are to be issued to the Ordinary Shareholders of GKW in the ratio of one Equity Share of Rs.2/- each of the Company credited as fully paid up for every three Ordinary Shares of Rs.10/- each fully paid up held by them in GKW.
	iii) Paid up Equity Share Capital does not include Rs.397.76 lakh being the face value of equity shares to be allotted pursuant to the Scheme. However, EPS has been calculated considering shares to be allotted pursuant to the Scheme.
	iv) Public, Promoters and Promoter Group shareholding disclosed represent their holdings as at 31st March, 2009. Effect of shares to be allotted pursuant to the Scheme has not been given.

5	In view of the average market price of the equity shares of the Company relevant for the year ended 31st March, 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 year ended 31st March, 2009.

6	The Company has bought back and cancelled FCCB, aggregating USD 3,875,000 at discount during the year. The discount on buy back has been credited to Other Income.

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

8	The Board has recommended dividend @ Rs. 3/- per equity share of Rs.2/- each.

9	No investor complaint was pending at the beginning of the quarter ended 31st March, 2009. During the quarter, ten complaints were received. All the complaints were disposed off / attended to and no complaint was pending as on 31st March, 2009.

10	Figures of standalone as well as consolidated audited financial results include results of Powmex Steels Undertaking for two months, February and March 2009 and hence not comparable with those of previous year.
11	Figures for the previous year have been re-grouped / re-arranged wherever necessary.