Ambujanagar P.O.,Taluka - Kodinar, District-Junagadh, Gujarat - 362 715
Unaudited Quarterly Financial Results
    Quarter ended Six month ended Previous
          year ended
    31.12.2002 31.12.2001 31.12.2002 31.12.2001 30-06-2002
              (Audited)
           
Production - Quantity in Lac Tonnes        
Clinker 22.92 14.48 41.80 27.26 60.97
Cement 23.66 17.94 44.44 32.68 72.06
           
Sales - Quantity in Lac Tonnes        
Clinker 0.01 - 0.03 - -
Cement 23.02 18.02 44.38 32.60 71.84
      23.03 18.02 44.41 32.60 71.84
            (Rs. in crores)
           
Net Sales/Income from Operations 486.98 399.19 921.01 739.27 1,583.01
           
Other Income 7.86 5.01 14.76 13.91 21.58
           
Total Expenditure        
  a) (Increase) / Decrease in Stock (25.66) 12.61 (23.93) 8.43 12.79
  b) Consumption of raw materials :        
  - Clinker Purchased 9.71 8.91 15.37 15.66 25.58
  - Others 17.70 11.86 34.17 23.12 51.69
    27.41 20.77 49.54 38.78 77.27
           
  c) Staff Cost 17.95 13.77 31.93 24.50 48.42
  d) Power & Fuel 110.71 75.71 209.13 146.41 323.99
  e) Excise Duty 67.64 49.11 128.41 89.87 198.85
  f) Freight & Forwarding :        
  - On Sales 63.81 39.51 127.82 73.26 167.50
           
  - On inter-units Clinker transfer 13.01 8.46 25.54 16.35 41.71
    76.82 47.97 153.36 89.61 209.21
  g) Other Expenditure 84.35 63.21 162.24 120.10 268.27
    359.22 283.15 710.68 517.70 1,138.80
           
Operating Profit 135.62 121.05 225.09 235.48 465.79
           
Interest (Net) 26.11 26.13 48.13 50.80 96.64
           
Depreciation 43.90 33.73 87.30 67.26 137.81
           
Operating Profit before Tax 65.61 61.19 89.66 117.42 231.34
           
Provision for current tax 5.10 4.35 7.00 8.25 16.50
           
Operating profit after current tax 60.51 56.84 82.66 109.17 214.84
           
Provision for deferred tax liability 4.05 6.40 8.55 11.40 28.32
           
Net Profit 56.46 50.44 74.11 97.77 186.52
 
      Quarter ended Six month ended Previous
        year ended
  31.12.2002 31.12.2001 31.12.2002 31.12.2001 30-06-2002
            (Audited)
           
Paid up Equity Share Capital          
(Face value Rs. 10/- each) 155.19 155.12 155.19 155.12 155.17
           
Reserves excluding Revaluation Reserves         1,449.32
           
Earning per share (EPS - in Rs.) :          
           
  Basic 3.65 3.25 4.79 6.30 12.01
           
  Diluted 3.27 2.90 4.32 5.63 10.74
(EPS for quarters not annualised)          
           
Aggregate shareholding of non promoters:-          
  - No.of shares (in lacs)     1,125.16 1,110.60 1,133.77
  - Percentage of shareholding     72.5% 71.6% 73.1%
               
Notes :

 


1) As per Accounting Standard on Interim Financial Reporting (AS-25) issued by the Institute of Chartered Accountants of India, applicable from 1st April, 2002, certain expenses which were hitherto accounted on budgeted/estimated/pro-rata basis, have now been charged at actuals in the period in which these were incurred. Consequently, profit for the quarter and half year ended 31st December, 2002, is lower by Rs. 3.04 crores.
To facilitate comparison, the corresponding previous years figures for the quarter and half-year ended 31st December, 2001, have been accordingly restated. As a result, net profit for the said periods is lower by Rs. 0.72 crores.


2) The Company has, during the quarter, raised Rs. 25 crores by issue of Secured Non-Convertible Redeemable Debentures and has pre-maturely redeemed some of the debentures of the aggregate face value of Rs. 85 crores.
  3) The previous year's figures have been regrouped/restated wherever necessary.
  4) The above results have been approved and taken on record by the Board of Directors of the Company at the meeting held on 29th January, 2003.
  5) Limited Review of the half yearly results for the half year ended 31st December, 2002, has been carried out by the Auditors.
 

Mumbai, 29th January, 2003

 
  By the Order of the Board
  (N S Sekhsaria) Managing Director