AUDITED FINANCIAL RESULTS FOR THE PERIOD ENDED 31ST MARCH 2010

(Rs.in crores)
    Period Ended
  Particulars 6 Months 31.03.10 Audited 18 Months 30.09.09 Audited
1 Gross Sales 228.38 496.84
  Less: Excise Duty 17.51 29.56
  Net Sales 210.87 467.28
2 Other Operating Income                                                   3.62 2.83
3 Total Income  214.49 470.11
4 Expenditure    
  a)  (Increase) / Decrease in Stock in trade and work in progress 14.91 (10.62)
  b)  Consumption of Raw Materials        117.81 358.83
  c)  Power & Fuel 18.44 51.97
  d)  Employees Cost 6.00 17.30
  e) Depreciation 8.62 9.06
  f) Other Expenditures 23.17 51.79
  g) Total 188.95 478.33
5 Profit(loss) from operations before other income & interest 25.54 (8.22)
6 Other Income                                                   0.01 0.02
7 Profit(loss) before interest 25.55 (8.20)
8 Interest & financial charges 3.22 12.27
9 Profit(loss)after interest  22.33 (20.47)
10 Tax expense 0.01 0.21
11 Net Profit/ (Loss) from ordinary activities after tax 22.32 (20.68)
12 Extraordinary Income/(Expense) (14.03) 17.94
13 Net Profit/ (Loss) for the period 8.29 (2.74)
14 Paid-up Equity Share Capital (Rs.10 per share) 71.14 71.14
15 Reserves excluding Revaluation Reserves          ---          ---
16 Earning Per Share (Rs.) - Basic &  Diluted(not annualised)    
  a) before extraordinary items 3.14 (2.91)
  b) after extraordinary items 1.16 (0.38)
17 Public Shareholding    
  -  Number of Shares  30412096 30412096
  - Percentage of  Shareholding             42.76 42.76
18 Promoters and Promoter Group Shareholding:    
  (I) Pledged/ Encumbered    
  -   Number of Shares 15125000 15125000
  -   Percentage of Shares (as a % of the total shareholding of  37.15 37.15
       Promoter & Promoter Group)    
  -   Percentage of Shares ( as a % of the total share capital  21.26 21.26
       of the company)    
  (ii) Non-encumbered    
  -   Number of Shares 25596025 25596025
  -   Percentage of Shares (as a % of the total shareholding of  62.85 62.85
       Promoter & Promoter Group)    
  -   Percentage of Shares ( as a % of the total share capital of the company) 35.98 35.98

 

AUDITED STATEMENT OF ASSETS AND LIABILITIES 
(Rs.in crores)
Particulars As at  31.03.2010 As at  30.09.2009
SOURCES OF FUNDS    
Shareholders' Funds    
Share Capital 71.14 71.14
Reserves & Surplus 78.39 82.18
Loan Funds 53.06 61.38
Total 202.59 214.70
Fixed Assets 102.43 114.34
Current Assets, Loans & Advances    
Inventories 85.69 73.91
Sundry Debtors 15.05 10.97
Cash & Bank Balances 6.36 5.50
Loans & Advances 9.17 19.74
Less : Current Liabilities & Provisions    
Current Liabilities 88.35 90.30
Provisions 0.02 0.01
Net Current Assets 27.90 19.82
Profit & Loss Account 72.26 80.55
Total 202.59 214.70

Notes-

  1. Extraordinary expenses includes charging of  Cenvat Accumulation amounting to Rs. 13.45 crore
  2. Company has during the  period   changed  the depreciation method resulting into extra charge of Rs. 7.17 crore.
  3. The company  has changed  the accounting period from Oct-Sept to Oct-March,therefore the current accounting period is for 6 months.
  4. Now Company shall follow April- March periodSince the company has carried forward losses, the deferred tax assets  (Rs. 20.18 crore) have not been recognised considering the  principle of virtual certainity as stated in the AS-22 Accounting for Taxes on Income
  5. During the quarter 15  investor complaints  were  received, which were resolved by the company. 
  6. Figures have been regrouped wherever considered necessary.
  7. These results have been taken on record by the Board of Directors at the meeting held on 27th  May 2010
Dated: 27th May 2010
Place :New Delhi		  Vineet Jain
Managing Director