Ambujanagar P.O.,Taluka - Kodinar, District-Junagadh, Gujarat - 362 715
Unaudited Quarterly Financial Results
  Consolidated Results
    Quarter ended Previous Quarter ended Previous
        Year ended     Year ended
    30.09.2004 30.09.2003 30-6-2004 30.09.2004 30.09.2003 30-6-2004
  (Refer Note 7) (Refer Note 7) (Audited) (Refer Note 5&7) (Refer Note 5) (Audited)
                (Refer Note 5)
(Rs. in crores)
               
Net Sales / Income from Operations              
  Gross Sales 691.23 444.45 2,305.18 814.06 538.58 2,819.03
  Less : Excise duty paid 91.85 66.34 337.07 106.88 76.63 401.25
  Net Sales 599.38 378.11 1,968.11 707.18 461.95 2,417.78
               
Other Income :            
  - Exchange rate difference (net) 1.05 6.18 9.31 1.04 6.23 9.66
  - Others 11.11 8.43 41.18 22.43 13.84 49.53
    12.16 14.61 50.49 23.47 20.07 59.19
Share of Earning of Associates - - - - (0.28) 0.06
               
Total Expenditure            
  a) (Increase) / Decrease in Stock (4.34) 7.29 (11.27) (19.53) (3.09) (51.80)
  b) Consumption of raw materials :            
  - Clinker Purchased - 3.87 33.80 - 3.87 33.80
  - Others 24.81 16.64 84.39 30.00 20.52 110.27
    24.81 20.51 118.19 30.00 24.39 144.07
               
  c) Staff Cost 23.52 22.90 81.35 28.92 27.55 100.99
  d) Power & Fuel 159.79 97.35 463.63 182.19 114.62 550.06
  e) Freight & Forwarding :            
  - On Sales 89.35 66.14 312.90 105.77 77.13 377.45
  - On inter-units Clinker transfer 17.43 11.73 63.24 25.93 20.24 104.89
    106.78 77.87 376.14 131.70 97.37 482.34
  f) Other Expenditure 121.63 91.40 403.04 164.55 126.57 541.50
    432.19 317.32 1,431.08 517.83 387.41 1,767.16
               
Operating Profit 179.35 75.40 587.52 212.82 94.33 709.87
               
Interest (Net) 21.02 19.53 78.43 22.91 22.34 90.06
               
Depreciation and Amortization 50.27 40.82 168.61 60.67 49.58 208.24
               
Operating Profit before tax and prior            
period items 108.06 15.05 340.48 129.24 22.41 411.57
               
Prior period items :            
Depreciation written back - 13.86 60.07 - 13.86 60.07
Expenses on sales promotion - (5.15) (15.27) - (5.15) (15.27)
Staff cost - - (1.78) - - (2.27)
    - 8.71 43.02 - 8.71 42.53
Operating Profit before tax 108.06 23.76 383.50 129.24 31.12 454.10
             
Provision for taxation :            
               
  - Current tax 7.90 1.83 20.30 7.95 1.89 20.55
  - Deferred tax 9.70 7.11 26.41 12.40 7.65 48.25
    17.60 8.94 46.71 20.35 9.54 68.80
               
Less : Minority Interest - - - 7.90 4.10 22.87
               
Net Profit 90.46 14.82 336.79 100.99 17.48 362.43
            Consolidated Results
    Quarter ended Previous Quarter ended Previous
        Year ended   Year ended
    30.09.2004 30.09.2003 30-6-2004 30.09.2004 30.09.2003 30-6-2004
  (Refer Note 7) (Refer Note 7) (Audited) (Refer Note 5&7) (Refer Note 5) (Audited)
                (Refer Note 5)
           
Paid up Equity Share Capital          
(Face value Rs. 10/- each) 179.40 155.32 179.40 179.40 155.32 179.40
             
Reserves excluding Revaluation          
Reserves     1,842.29   1,563.51
             
Earning per share (EPS - in Rs.)          
  Basic 5.04 0.95 21.24 5.63 1.13 22.77
             
  Diluted 5.03 0.89 19.62 5.61 1.04 21.02
               
(EPS for quarters not annualised)            
                 
Notes:
1) The company has only one business segment Cement. The consolidated results have business segment other than cement but the same not being material (less than 1%), the segment results have not been given.
2) At the beginning of the quarter ended 30th September, 2004, 1 investor complaint was pending. During the quarter 32 complaints were received, 32 complaints were resolved and 1 complaint was pending disposal as on 30th September, 2004.
3) The figures for the current quarter includes figures for the erstwhile Ambuja Cement Rajasthan Limited which merged with the Company w.e.f. 1st June 2004. Accordingly, figures for the current quarter are not comparable with those of the corresponding quarter of previous year.
4) The figures for the corresponding quarter of previous year have been regrouped/restated wherever necessary.
5) Consolidated net profit of the quarter includes share of earning in joint venture amounting to Rs. 1.27 crores (30.09.2003-Rs. 0.20 crores and previous year ended 30.06.2004-Rs. 5.26 crores).
6) The above results have been approved and taken on record by the Board of Directors of the Company at the meeting held on 20th October, 2004.
7) Limited Review of the financial results for the quarter ended 30th September, 2004 has been carried out by the Auditors.
By the Order of the Board
Mumbai (N S Sekhsaria)
20th October, 2004 Managing Director