AMBUJA CEMENT EASTERN LIMITED
Regd. Office : P.O. Rawan, Tehsil - Baloda Bazar, District - Raipur, Pin - 493 331 (Chhattisgarh)
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 30TH JUNE, 2004
  Nine months ended Quarter ended Year ended
PARTICULARS 31.03.2004 30.06.2004 30.06.2003 30.06.2004 30.06.2003
  (Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Production - Quantity in Lac Tonnes          
- Clinker 8.48 3.21 2.77 11.69 10.64
- Cement 10.53 5.75 4.47 16.28 14.83
           
Sales - Quantity in Lac Tonnes          
- Clinker 0.12 0.29 0.19 0.41 0.32
- Cement 10.63 5.59 4.68 16.22 14.72
                 
    (Rs. in Lacs)
Sales / Income from Operations 30417 16704 13536 47121 42265
Less:Excise Duty 4116 2302 1913 6418 5391
  ------------- ------------- --------------- ------------- ---------------
Net Sales 26301 14402 11623 40703 36874
Other Income 315 189 104 504 352
           
Total Expenditure          
a) (Increase) / Decrease in Stock-in-trade (914) 300 912 (614) (234)
b) Consumption of Raw Materials          
  - Clinker purchased - - - - 203
  - Others 1593 895 637 2488 2095
  ------------- ------------- --------------- ------------- ---------------
  1593 895 637 2488 2298
c) Staff Cost 1280 487 377 1767 1466
d) Power & Fuel 6113 2568 2140 8681 7743
e) Freight & Forwarding          
  - On Sales 3264 1810 1487 5074 4899
  - On inter-unit clinker transfer 2660 1400 1073 4060 3976
  ------------- ------------- --------------- ------------- ---------------
  5924 3210 2560 9134 8875
f) Other Expenditure 6184 2799 2214 8983 8002
  ------------- ------------- --------------- ------------- ---------------
Total 20180 10259 8840 30439 28150
           
Operating Profit 6436 4332 2887 10768 9076
           
Interest 849 214 364 1063 1703
           
Depreciation (Refer Note 1) 2095 730 612 2825 2472
           
Profit before Exceptional Item and Taxation 3492 3388 1911 6880 4901
           
Exceptional Item - Depreciation (Refer Note 2) - 187 - 187 -
           
Profit after Exceptional Item but before Taxation 3492 3201 1911 6693 4901
           
Provision for Taxation (Refer Note 3)          
- Current Tax - - - - -
- Deferred Tax 1198 988 (7169) 2186 (7169)
           
Net Profit 2294 2213 9080 4507 12070
           
Paid-up Equity Share Capital 19330 19330 19330 19330 19330
(Face value Rs.10/- each)          
           
Reserves excluding Revaluation Reserves - - - 1675 1675
           
Earning per share (EPS - in Rs.)          
  Basic & Diluted 1.19 1.15 4.72 2.34 6.27
  (EPS for quarter/nine months not annualised)          
           
Aggregate of non-promoter shareholding          
- Number of shares (in lacs)       113.94 113.94
- Percentage of shareholding       5.92% 5.92%
                 
Notes:
1. Based on a review and reassessment of the intrinsic machine configuration and capabilities, plant & machinery items at Company's grinding unit at Sankrail, West Bengal, which were hitherto being depreciated on the basis of "Continuous Process" are now being depreciated at shift rates on the Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956. In consequence of the above, depreciation charge for the current quarter and for the year is higher by Rs. 68 lacs and Rs. 271 lacs respectively and the net profit for the current quarter and for the year is lower by Rs. 42 lacs (net of provision for taxation Rs. 24 lacs) and Rs. 171 lacs (net of provision for taxation Rs. 95 lacs) respectively.
2. The Company has in the current year identified machinery spares of Rs. 371 lacs which are in the nature of insurance spares and whose use is irregular. The value of the same has been amortised over the remaining useful life of the assets to which they relate. Consequently, the depreciation charge for the year is higher by Rs. 187 lacs and the net profit for the year is lower by Rs. 115 lacs (net of provision for taxation Rs. 64 lacs).
3. (a) No provision for current taxation has been made in the accounts in view of the carried forward business losses / unabsorbed depreciation in respect of past years.
(b) The provision for deferred tax has been made net of deferred tax assets.
4. The Company has only one business segment "Cement".
5. There were 2 complaints pending from investors at the beginning of the quarter. 226 complaints were received during the quarter. All the complaints were redressed, except 4 complaints received on 30th June, 2004 which were pending as on that date,which have since been redressed.
6. Figures in respect of previous periods have been regrouped / restated wherever necessary.
7. The above results have been approved and taken on record by the Board of Directors of the Company at the meeting held on 27th July, 2004.
By Order of the Board
Mumbai Harshavardhan Neotia
27th July, 2004 Managing Director