Unaudited Financial Results for the Quarter ended December 31, 2009

(Rs. in lakhs)

Quarter Ended

Half Year Ended

Year Ended

Particulars

31.12.09
(Unaudited)

31.12.08
(Unaudited)

31.12.09
(Unaudited)

31.12.08
(Unaudited)

31.03.2009
(Audited)

1. (a) Net sales/ income from operations

38466.93

42184.00

111351.19

135310.07

183804.19

(b) Other operating income

3136.47

1574.26

6928.15

3098.03

4396.46

Total income (a+b)

41603.40

43758.26

118279.34

138408.10

188200.65

2. Expenditure

(a) (Increase)/decrease in stock in trade and work in progress

(495.43)

807.27

(4610.72)

(4106.72)

(3321.64)

(b) Consumption of raw materials

15165.56

18699.06

47831.25

58390.44

78671.19

915.74

2209.77

2937.19

19667.72

20569.4

(d) Employee cost

2634.98

2193.37

7711.25

6541.85

9192.56

(e) Depreciation

1386.67

1117.60

3942.27

3091.38

5212.48

(f) Power and fuel

2999.26

2653.84

7949.61

7660.87

10119.59

(g) Stores and spares

3220.20

2817.77

7687.02

7250.46

9852.96

(h) Job charges

446.50

750.64

1317.42

4359.82

5583.64

(i) Other expenditure

5091.93

4955.39

14234.57

17087.38

26285.42

Total expenditure

31365.41

36204.71

88999.86

119943.20

162165.60

3. Profit from Operations before other income, interest and exceptional items (1-2)

10237.99

7553.55

29279.48

18464.90

26035.05

4. Other Income

113.90

574.33

930.71

1946.79

4595.91

5. Profit before interest & exceptional items (3+4)

10351.89

8127.88

30210.19

20411.69

30630.96

6. Interest

761.57

2883.70

2976.81

10442.53

9726.02

7. Profit after interest but before exceptional items (5-6)

9590.32

5244.18

27233.38

9969.16

20904.94

8. Provision /(reversal) for MTM losses on derevative transactions

(4449.77)

9. Profit/(loss) from ordinery activities before tax (7-8)

9590.32

5244.18

27233.38

14418.93

20904.94

10. Tax expense

-Current

3140.00

1075.00

8920.00

2400.00

5050.00

-Deferred

9.20

411.28

(237.80)

2462.10

1705.54

-Fringe benefits tax

25.00

70.00

110.00

11. Net Profit/(Loss) after tax from Ordinary Activites after Tax (9-10)

6441.12

3732.90

18551.18

9486.83

14039.40

12 Paid-up equity share capital
(Face value - Re. 1/-)

3267.53

2873.02

3267.53

2873.02

13. Reserves excluding revaluation reserve as per balance sheet of previous accounting year

123248.00

14. Earnings per share (EPS) for the period, for the year to date and for the previous year (not to be annualized):

(a) Before extraordinery item for the period, for the year to date and for the previous year (not to be annualized)

Basic

1.97

1.30

5.84

3.35

4.94

Diluted

1.91

1.23

5.45

3.20

4.65

15. Public shareholding

- Number of shares

166860509

142026006

166860509

142026006

- Percentage of shareholding

51.07

49.43%

51.07

49.43%

16. Promoters and Promoter Group Shareholding

(a) Pledged/Encumbered

-Number of Shares

-Percentage of Shares (As a % of the total Shares Holding of Promoter and Promoter Group)

-Percentage of Shares
(As a % of the total share Capital of the Company)

(b) Non-encumbered and non Pledged

Number of Shares

157122196

142506285

157122196

142506285

Percentage of Shares (as a% of the total shareholding of promoter & prom. Group)

100%

Percentage of Shares (as a% of the total share capital of the company)

48.08%

49.60%

48.08%

49.60%

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 January 22, 2010.
The Company operates mainly in one business segment viz. Pipes and all other activities revolve around the main business.
As on December 31, 2009, the Company had inter-alia outstanding forward exchange contracts, (other than those covered under AS-11 on "The Effects of Changes in Foreign Exchange Rates") and other derivative contracts. The Mark-to-Market (MTM) losses on such contracts as on December 31, 2009 remains provided in the above results. Provision made in earlier years have been continued to be kept in these accounts.
Details of number of investor complaints for the quarter ended December 2009: beginning- nil, received- 25 ,disposed off- 25 and pending- nil.
Previous period's figures have been regrouped/rearranged wherever necessary.

By Order of the Board
Kolkata January 22, 2010	Umang Kejriwal Managing Director