Unaudited Financial Results for the Quarter ended September 30,2010

(Rs. in lakhs)
  Quarter Ended Half Year Ended Year Ended
Particulars 30.09.10
(Unaudited)		 30.09.09
(Unaudited)		 30.09.10
(Unaudited)		 30.09.09
(Unaudited)		 31.03. 2010
(Audited)
1. (a) Net sales/ income from operations 42052.29 35593.81 78042.65 72884.25 142877.47
(b) Other operating income 1171.58 2167.76 2067.15 3712.76 10011.60
Total income (a+b) 43223.87 37761.57 80109.80 76597.01 152889.07
2. Expenditure
(a) (Increase)/decrease in stock in trade and work in progress (47.03) (2606.90) (1304.89) (4115.29) (2285.85)
(b) Consumption of raw materials 19372.13 15544.70 33758.01 32665.69 57912.29
(c) Purchase of traded goods 1681.17 1023.21 2021.45 17457.95 20569.4
(d) Employee cost 3191.76 2456.32 5053.57 2021.45 4951.00
(e) Depreciation 1430.12 1293.94 2742.07 2555.59 5230.06
(f) Power and fuel 3232.10 2615.40 6123.50 4950.36 10515.51
(g) Stores and spares 2880.27 2328.11 5055.92 4466.82 10811.91
(h) Job charges 297.82 501.60 521.16 870.92 1742.04
(i) Other expenditure 4933.76 4776.29 10779.71 9144.56 20735.70
Total expenditure 36972.10 28067.15 68668.45 57636.36 120220.75
3. Profit from Operations before other income, interest and exceptional items (1-2) 6251.77 9694.42 11441.35 18960.65 32668.32
4. Other Income 446.25 468.35 692.88 755.20 2763.09
5. Profit before interest & exceptional items (3+4) 6698.02 10162.77 12134.23 19715.85 35431.41
6. Interest (net) 1024.44 969.60 2202.78 2072.79 4639.74
7. Profit/(loss) from ordinary activities before tax (5-6) 5673.58 9193.17 9931.45 17643.06 30791.67
8. Tax expense 1813.18 2892.87 3063.00 5533.00 10162.78
9.Net Profit/(Loss) after tax from Ordinary Activites after Tax (7-8) 3860.40 6300.30 6868.45 12110.06 20628.89
10. Paid-up equity share capital (Face value - Re. 1/-) 3267.53 3267.53 3267.53 3267.53 3267.53
11. Reserves excluding revaluation reserve as per balance sheet of previous accounting year - - - - 155109.86
12. Earnings per share (EPS) for the period, before and after extraordinary items and for the previous year (not annualized)
Basic 1.18 1.96 2.10 3.87 6.45
Diluted 1.11 1.94 1.98 3.66 5.97
13. Public shareholding
- Number of shares 166008496 166865509 166008496 166865509 166011022
- Percentage of shareholding 50.81% 51.07% 50.81% 51.07% 50.81%
14. 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 157974209 157117196 157974209 157117196 157971683
Percentage of Shares (as a% of the total shareholding of promoter & prom. Group) 100% 100% 100% 100% 100%
Percentage of Shares (as a% of the total share capital of the company) 48.35% 48.08% 48.35% 48.08% 48.35%
*DSCR = PBIT/(Net Interest + Principal Repayment)
     3.98 8.14 3.87
**ISCR = PBIT/Net Interest     5.77 8.14 6.12
  1. 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 November 02, 2010.The above results have been subjected to Limited Review by the Statutory Auditors.
  2. The Company operates mainly in one business segment viz. Pipes and all other activities revolve around the main business.
  3. Details of number of investor complaints for the quarter ended September 2010: beginning- 1, received- 23 ,disposed off-23 and pending- 1.
  4. During the quarter, interest expense is netted off against interest income on Bonds/Deposits etc. and accordingly figures of previous quarter/half year have been restated.
  5. Statement of Assets and Liabilities
(Rs. in lakhs)
Particulars Unaudited
30.09.2010 30.09.2009
Shareholders Funds :    
a) Share Capital 3267.53 3267.53
b) Reserves and Surplus 161659.98 150716.05
Loan Funds 155315.90 74683.31
Deferred Tax Liabilities (net) 4709.87 3443.47
Total Sources of Funds 324953.28 232110.36
Fixed Assets (net , including capital work in progress) 93206.26 87339.53
Investments 133686.73 58167.71
Currents Assets, Loans and Advances :    
a) Inventories 38066.95 31636.63
b) Sundry Debtors 39895.08 51151.95
c) Cash and Bank Balances 26673.45 17432.74
d) Loans and Advances 23840.99 16330.89
Less : Current Liabilites and Provisions :    
a) Liabilities 22357.41 20909.27
b) Provisions 8058.77 9039.82
Total Application of Funds 324953.28 232110.36

    6. Previous period's figures have been regrouped/rearranged wherever necessary.
     
For ELECTROSTEEL CASTINGS LTD.
Kolkata
November 2, 2010		 Umang Kejriwal
Managing Director