Electrosteel Castings Limited - Company

Electrosteel

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ELECTROSTEEL CASTINGS LIMITED

Regd. Office: Rathod Colony, Rajgangpur, Orissa
Corporate Office: 19 , Camac Street , Kolkata - 700 017

Unaudited Financial Results for the Quarter and Nine month ended 31st December, 2006

(Rs. in crores)
.	Quarter Ended		Nine Month Ended		Year Ended
.	31.12.06 (Unaudited)	31.12.05 (Unaudited)	31.12.06 (Unaudited)	31.12.05 (Unaudited)	31.03. 06 (Audited)
Net Sales/ Income from Operations	300.82	197.37	812.09	677.70	955.69
Other Income	16.08	16.96	41.57	30.18	46.00
Total Revenue	316.90	214.33	853.66	707.88	1001.69
(a) (Increase) / decrease in Stock in trade	5.26	(15.33)	19.47	(54.31)	(41.60)
(b) Consumption of Raw Materials	107.00	82.50	305.18	298.73	408.27
(c) Purchases for Resale	42.75	33.57	60.57	123.06	140.05
(d) Staff cost	14.26	12.91	42.89	37.13	51.09
(e) Power and fuel	15.93	16.35	50.39	46.85	63.15
(f) Stores and Spares	18.35	14.44	54.73	42.86	61.57
(g) Job Charges	15.04	8.71	35.13	21.65	34.41
(h) Other expenditure	41.48	30.58	120.22	86.49	122.65
Total Expenditure	260.07	183.73	688.58	602.46	839.59
Gross Profit	56.83	30.60	165.08	105.42	162.10
Interest #	1.30	7.20	17.87	18.45	25.67
Profit before Depreciation and Tax	55.53	23.40	147.21	86.97	136.43
Depreciation	8.50	6.58	25.35	20.94	28.56
Profit Before Tax	47.03	16.82	121.86	66.03	107.87
Provision for Taxation
-Current	11.00	4.45	34.00	20.25	30.00
-Deferred	6.30	1.40	9.40	(0.90)	0.33
-Fringe Benefits Tax	0.24	0.28	0.53	0.68	1.10
Profit After Tax	29.49	10.69	77.93	46.00	76.44
Paid-up Equity Capital (Face Value - Rs. 10/-)	20.76	20.76	20.76	20.76	20.76
Reserves excluding Revaluation Reserve	-	-	-	-	769.51
Earnings Per Share (not annualised)
Basic	14.21	5.21	37.54	26.14	41.53
Diluted	10.28	5.21	28.72	26.14	41.53
Aggregate of Non-Promoter shareholding
- Number of Shares	9348647	10537357	9348647	10537357	10240418
- Percentage of Shareholding	45.02%	50.75%	45.02%	50.75%	49.32%

# Interest is net of derivative gains/losses and foreign exchange difference on borrowings.

The above financial results as reviewed by Audit Committee were approved and taken on record by the Board of Directors in their meeting held on 22nd, January 2007..
The Company operates mainly in one business segment viz Pipes and all other activities revolve around the main business.
Details of number of investors complaints for the quarter ended 31st December, 2006 : beginning-2, received-16, disposed off-16 and pending-2.
Corresponding quarter/nine month figures have been regrouped/rearranged wherever necessary.

By Order of the Board
for Electrosteel Castings Limited

Umang Kejriwal
Managing Director

Kolkata
22nd, January 2007.