| AUDITED FINANCIAL RESULTSYEAR ENDED 31st MARCH 2010 |
| (Rs. in Lacs) |
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Quarter ended |
Year ended |
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Audited |
Audited |
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31.03.2010 |
31.03.2009 |
31.03.2010 |
31.03.2009 |
| 1 |
Net Income from Sales/Services |
33984.02 |
32558.62 |
69483.71 |
58484.6 |
| 2 |
Cost of Sales/Services Total Expenditure |
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| a) |
(Increase) / decrease in stock in trade |
-503.25 |
-1987.86 |
608.91 |
-1133.17 |
| b) |
Consumption of raw material |
9202.27 |
6849.89 |
26537.77 |
23007.81 |
| c) |
Purchase of Traded goods |
22531.84 |
26518.32 |
33081.14 |
29644 |
| c) |
Staff Cost |
206.04 |
195.89 |
796.94 |
751.09 |
| d) |
Excise Duty |
895.7 |
809.59 |
2594.21 |
3255.37 |
| e) |
Other Expenditure |
444.66 |
255.74 |
1711.66 |
1335.76 |
| 3 |
Gross Profit |
1206.76 |
-82.95 |
4153.08 |
1623.74 |
| 4 |
General Administrative Expenses |
318.74 |
392.99 |
857.29 |
2239.29 |
| 5 |
Selling and Distribution Expenses |
459.21 |
373.95 |
1392.27 |
905.52 |
| 6 |
Operating Profit before Interest & Deprec |
428.81 |
-849.89 |
1903.52 |
-1521.07 |
| 7 |
Interest |
399.89 |
415.25 |
1574.54 |
1602.62 |
| 8 |
Depreciation |
79.06 |
103.35 |
423.74 |
360.23 |
| 9 |
Operating Profit/(Loss) after Interest & De |
-50.14 |
-1368.49 |
-94.76 |
-3483.92 |
| 10 |
Other Income |
308.42 |
127.7 |
610.4 |
169.35 |
| 11 |
Profit/(Loss) before Tax |
258.28 |
-1240.79 |
515.64 |
-3314.57 |
| 12 |
Provision for Current Tax |
15.97 |
0 |
15.97 |
0 |
| 13 |
Deferred Tax Liabilities /(Assets) |
87.58 |
-421.83 |
175.18 |
-1126.71 |
| 14 |
Fringe Benefit Tax |
0 |
3.44 |
0 |
8.19 |
| 15 |
Income tax related to earlier years |
0 |
-37.62 |
0 |
-37.62 |
| 16 |
Net Profit / (Loss) (11-12-13-14) |
154.73 |
-784.78 |
324.49 |
-2158.43 |
| 17 |
Paid-up equity share capital |
3891.71 |
2937 |
3891.71 |
2937 |
| 18 |
Paid-up preference share capital |
1600 |
650 |
1600 |
650 |
| 19 |
Reserves excl. revaluation reserves |
0 |
0 |
-958.89 |
-1383.63 |
| 20 |
Earning Per Share (Not Annualised) |
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Basic & Diluted Rupees |
0.466405041 |
-2.67 |
1.044072982 |
-7.34 |
| 21 |
Aggregate of non promoters share holding |
27325336 |
19749618 |
27325336 |
19749618 |
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Precentage of shareholding |
70.25% |
67.21% |
70.25% |
67.21% |
| 22 |
Promoter and Promoter Group Shareholding |
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| a) |
Pledged / Encumbered |
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-Number of shares |
2539400 |
2539400 |
2539400 |
2539400 |
|
-Percentage of shares (as a % of the share |
21.94% |
26.35% |
21.94% |
26.35% |
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-Percentage of shares (as a % of the total s |
6.53% |
8.64% |
6.53% |
8.64% |
| b) |
Non-encumbered |
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-Number of shares |
9035264 |
7098107 |
9035264 |
7098107 |
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-Percentage of shares (as a % of the share |
78.06% |
73.65% |
78.06% |
73.65% |
|
-Percentage of shares (as a % of the total s |
23.22% |
24.15% |
23.22% |
24.15% |
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| Segment wise revenue, results and capital employed year ended 31st MARCH 2010 |
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(Rs. in Lacs) |
| 1 |
Segment revenue |
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a) Steel Business |
27836.91 |
23961.4 |
61374.72 |
47296.69 |
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b) Oils |
0 |
0 |
0 |
0 |
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c) Others |
6455.53 |
8724.92 |
8719.39 |
11187.91 |
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Total |
34292.44 |
32686.32 |
70094.11 |
58484.6 |
| 2 |
Segment results |
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(Profit / (Loss) before Interest and Tax) |
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a)Steel Business |
320.61 |
-860.71 |
1715.18 |
-1752.46 |
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b)Oils |
0 |
0 |
0 |
0 |
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c)Others |
337.56 |
35.17 |
375 |
40.51 |
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Total |
658.17 |
-825.54 |
2090.18 |
-1711.95 |
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Less-Interest |
399.89 |
415.25 |
1574.54 |
1602.62 |
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Profit/(Loss) before Tax |
258.28 |
-1240.79 |
515.64 |
-3314.57 |
| 3 |
Capital employed |
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(Segment Assets Less Segment Liabilities) |
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a) Steel Business |
13889.54 |
13878.81 |
13889.54 |
13878.81 |
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b) Oils |
28.98 |
30.07 |
28.98 |
30.07 |
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c) Others |
54.2 |
60.5 |
54.2 |
60.5 |
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Total |
13972.72 |
13969.38 |
13972.72 |
13969.38 |
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| Notes :- |
| 1. |
Previous year's figures have been re-grouped and re-arranged wherever necessary to make them comparable. |
| 2. |
The audited Financial Results for the year ended 31st March, 2010 were reviewed by the Audit Committee and taken on record at the Board meeting held on 29th May, 2010. |
| 3. |
The Company has alloted 95,47,075 Equity Shares of Rs. 10/- each at a premium of Rs. 1.05 per share for cash on preferential basis to promoters and non- promoters group at the Board Meeting held on 25th January 2010. |
| 4. |
There were no investor complaints pending at the beginning of the quarter and during the quarter Company has received 4 complaints which were resolved. There were no complaints lying unresolved at the end of the quarter. |
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| STATEMENT OF ASSETS AND LIABILITIES |
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(Rs. in Lacs) |
| Particulars |
31.03.2010 Audited |
31.03.2009 Audited |
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| SHAREHOLDER'S FUNDS |
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| (a) Capital |
5491.71 |
3587.00 |
| (b) Reserves and Surplus |
4266.86 |
4567.72 |
| LOAN FUNDS |
7952.93 |
9069.74 |
| TOTAL |
17711.5 |
17224.46 |
| FIXED ASSETS |
7884.85 |
8653.51 |
| INVESTMENTS |
15.00 |
15.00 |
| NET DEFERRED TAX ASSET / (LIABILITY) |
641.9 |
817.08 |
| CURRENT ASSETS, LOANS AND ADVANCES |
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| (a) Inventories |
13464.66 |
8363.76 |
| (b) Sundry Debtors |
9667.12 |
11859.74 |
| (c) Cash and Bank balances |
1979.48 |
993.23 |
| (d) Other Current assets |
820.1 |
785.1 |
| (e) Loans and advances |
989.02 |
766.79 |
| Less: Current Liabilities and Provisions |
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| (a) Liabilities |
18546.8 |
16280.49 |
| (b) Provisions |
290.48 |
174.4 |
| MISCELLANEOUS EXPENDITURE (NOT WRITTEN OFF OR ADJUSTED) |
0 |
0 |
| PROFIT AND LOSS ACCOUNT |
1086.65 |
1425.14 |
| TOTAL |
17711.5 |
17224.46 |
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Dated: 29th May,2010. |
For & on behalf of the Board of Directors
MANAGING DIRECTOR |
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