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Financial Results :
Unaudited Financial Results (Provisional) For The Quarter Ended 31st Dec., 2009
(Rs. In lacs)
Sl. No. Particulars
Quarter ended  31/12/2009 (Unaudited)
Quarter ended  31/12/2008 (Unaudited)
Nine Months ended 31/12/2009 (Unaudited)
Nine Months ended 31/12/2008 (Unaudited)
Year
ended 31/03/2009 (Audited)
1
a)
 Net Sales/Income from Operations
48587.00
24128.99
106183.69
80842.18
117355.79
b)
 Other Operating Income
0.00
0.00
0.00
0.00
0.00
2
Expenditure
a)
 (Increase)/decrease in stock in trade and work in progress
4417.39
-814.36
4502.78
1214.19
923.57
b)
 Consumption of materials
20207.74
18494.37
62177.06
60956.84
83371.42
c)
 Purchase of traded goods
21250.91
5737.93
29682.55
10968.28
25459.77
d)
 Employees Cost
41.70
79.10
232.58
209.13
349.61
e)
 Depreciation
531.20
488.01
1631.80
1462.97
2075.77
f)
 Other Expenditure
1643.37
2384.90
5151.42
7263.65
6031.38
g)
 Provision for Premium on FCCB
-60.84
469.15
420.99
1301.24
1132.17
h)
 Total
48031.47
26839.10
103799.18
83376.30
119343.69
3
Profit from Operations before Other Income, Interest and Exceptional Items (1-2)
555.53
-2710.11
2384.51
-2534.12
-1987.90
4
Other  Income
0.00
0.00
0.00
0.00
23.05
5
Profit before Interest and Exceptional Items (3+4)
555.53
-2710.11
2384.51
-2534.12
-1964.85
6
Interest
146.83
-32.81
191.02
24.72
-430.09
7
Profit after Interest but before Exceptional Ite
408.70
-2677.30
2193.49
-2558.84
-1534.76
8
Exceptional Income
0.00
0.00
0.00
0.00
0.00
9
Profit (+)/ Loss (-) from Ordinary Activities bef
408.70
-2677.30
2193.49
-2558.84
-1534.76
10
Tax Expense
37.75
95.10
299.15
324.60
224.39
11
Net Profit (+)/ Loss (-) from Ordinary Activitie
370.95
-2772.40
1894.34
-2883.44
-1759.15
12
Extraordinary Items Net of Tax Expense
595.88
0.00
905.49
0.00
565.44
13
Net Profit(+)/ Loss(-) for the period (11+12)
966.83
-2772.40
2799.83
-2883.44
-1193.71
14
a)
 Paid-up equity share Capital (Face Value of the share- Rs.1/-)
2036.60
2029.83
2036.60
2029.83
2029.83
b)
 Paid-up preference share capital ( Face Value of the Share- Rs.100/-)
5460.61
5460.61
5460.61
5460.61
5460.61
15
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year (Audited 31st March, 2009)
0.00
0.00
0.00
0.00
10102.69
16
Earnings Per Share (EPS)
(a) 
 Basic and diluted EPS before Extraordinary items  for the period, for the year to date and for the previous year (not annualized)
i)
 -Basic EPS for the period (Rs.)
0.18
-1.37
0.93
-1.42
-0.87
ii)
 -Diluted EPS for the period (Rs.)
0.17
-1.14
0.87
-1.18
-0.76
(b) 
 Basic and diluted EPS after Extraordinary items for the period, for the year to date and for the previous year (not annualised)
i)
 Basic EPS for the period (Rs.)
0.47
-1.37
1.37
-1.42
-0.59
ii)
 Diluted EPS for the period (Rs.)
0.45
-1.14
1.29
-1.18
-0.52
17
Public Shareholding
- Number of Shares
94336282
80480752
94336282
80480752
80480752
-Percentage of shareholding
46.32
39.65
46.32
39.65
39.65
18
Promoters and Promoter Group Shareholding
(a) 
 Pledged/Encumbered
-Number of Shares
NA
NA
NA
NA
5000000
-Percentage of Shares (as a % of the total shareholding of promoter    and promoter group)
NA
NA
NA
NA
4.08
-Percentage of Shares (as a % of the total share capital of the company)
NA
NA
NA
NA
2.46
(b) 
 Non-encumbered
-Number of Shares
109323660
NA
109323660
NA
117502048
-Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
100.00
NA
100.00
NA
95.92
-Percentage of Shares (as a % of the total share capital of the company)
53.68
NA
53.68
NA
57.89
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
1
 Segment Revenue (including other income allocable to segments)
a)
 Oils
48064.56
23516.81
103543.64
78842.64
114176.38
b)
 Infrastructure
489.54
564.81
2203.05
1860.91
2902.48
c)
 Others
32.90
47.37
437.00
138.63
276.93
Total
48587.00
24128.99
106183.69
80842.18
117355.79
Less: Inter Segment Revenue
0.00
0.00
0.00
0.00
0.00
Net sales/Income From Operations
48587.00
24128.99
106183.69
80842.18
117355.79
2
 Segment Results Profit)(+)/loss(-) before tax and interest from each segment
a)
 Oils
431.13
-2291.81
2245.33
-1809.30
-1681.91
b)
 Infrastructure
58.34
50.92
627.67
566.39
901.15
c)
 Others( including extraordinary items )
661.93
-469.22
416.99
-1291.21
-618.65
Total
1151.40
-2710.11
3289.99
-2534.12
-1399.41
Less:   (i)  Interest
146.83
-32.81
191.02
24.72
-430.09
(ii)  Other un-allocable expenditure net off un-allocable income
0.00
0.00
0.00
0.00
0.00
(iii)  Un-allocable Income
0.00
0.00
0.00
0.00
0.00
Total Profit Before Tax
1004.57
-2677.30
3098.97
-2558.84
-969.32
3
Capital Employed
a)
 Oils
3631.63
4648.61
3631.63
4648.61
2285.49
b)
 Infrastructure
9146.48
6643.45
9146.48
6643.45
8787.14
c)
 Others
1969.32
3140.23
1969.32
3140.23
6560.51
Total
14747.43
14432.29
14747.43
14432.29
17633.14
Note:
1.
The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors at its meeting held on 29th January, 2010. The results are subject to review by the Statutory Auditors.
2.
Pursuant to the Notification dated 31.03.2009 issued by the Ministry of Corporate Affairs, the Company has exercised the option available under the new inserted paragraph 46 to the accounting standard AS 11. The Net Foreign Exchange gain amounting to Rs.486.74 lacs arising out of revaluation as of 31st December 2009, will be adjusted to the cost of capital assets at the end of the financial year.
3.
(a) During the quarter the Company has bought back FCCBs aggregating to USD 8,000,000 (out of outstanding FCCBs of USD 20,400,000) and accordingly the premium provided in the earlier years in relation to the said FCCBs has been written back and shown under Extraordinary Income.
  (b) The FCCB Committee of the Board of directors of the Company at its meeting held on Friday , the 23rd October , 2009 has issued and allotted 6,77,142 Equity Shares of Re.1/- each on conversion of 3 FCCBs of USD 200,000 each, in accordance with the terms and conditons of the Offering Circular . Post this allotment, the paid up equity share capital of the Company is Rs. 20,36,59,942/-"
  ( c ) FCCBs outstanding as on 31st December 2009 post conversion and buyback is USD 12,400,000.
4. The Company did not have any investor complaints pending at the beginning of the quarter and no complaints were received during the quarter ended 31st December, 2009.
5.
The above financial results for the quarter ended and nine month ended 31st December, 2008 do not include provision for notional and uncrystallised currency exchange fluctuation effect of Rs.568.70 lacs and Rs.2963.70 lacs respectively on Foreign Currency Convertible Bonds (FCCBs) for which the Company will not be liable , if the FCCBs are converted on or before the due date i.e. 5th February 2012. Net Profit for the quarter would have been lower to that extent had the provision for the said currency fluctuation been made in terms of AS 11.
 
   
Place: Mumbai

29th January, 2010
For & On behalf of the Board of Directors
sd/-
Director

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