July 14, 2005

Audited results for thequarter and three months ended 30th June 2005

(Rs. in lakh)

Sr. No.

Particulars

Quarter ended

Previous Year ended 31 Mar 2005

30.06.2005

30.06.2004

(Audited)

Sales/Income from Operations
3862
2665
13391
Deduct : Excise Duty
466
323
1702

1

Net Sales/Income from Operations

3396

2342

11689

2
Export Benefits(DEPB Licence)
21
45
120

3

Other Income

72

90

534

4

Total Income

3489

2477

12343

5

Total Expenditure

3208

2211

11035

a) Increase/decrease in stock in trade

(-)417

(-)197

(-)533

b) Consumption of raw materials

1714

839

5012

c) Purchase of semi-finished products
478
357
1324

d) Consumption of Stores

259

141

784

e) Staff Cost

492

524

2101

f) Power & Fuel

413

322

1448

g) Excise Duty (Net of recovery)

13

22

18

h) Other Expenses

252

203

981

i) Deduct:Transfer of expenditure to capital & other account
(-)4
(-)100
j) Fringe Benefit Tax
8

6

Profit Before Interest,Depreciation, Tax & Exceptional items

281

266

1308

6

Interest

57

19

101

8

Profit after Interest but before Depreciation & Tax

224

247

1207

9

Depreciation

128

100

419

10

Profit Before Tax & Extra Ordinary / Exceptional Items

96

147

788

Exceptional Items -
a) Profit from Sale of Long term Investment
87
79
148
b) Employee Separation Compensation & Retiral Benefit to Ex-directors
(-)26
(-)11
(-)94
Profit Before Tax
157
215
842

10

Provision for Taxation

- Current Tax
33
49
188
- Deferred Tax
(-)7
-
45

11

Net Profit

131

166

609

12

Paid-up Equity Share Capital (Face Value of Rs.10/- per share)

547

547

547

13

Reserves excluding Revaluation Reserve

2833

14

Basic & Diluted Earning per Share(Rs.)

2.39

3.03

11.12

Aggregate of Non-promoters Shareholding
a) Number of Shares
2,696,868
2,696,868
2,696,868
b) Percentage of Shareholding
49.28
49.28
49.28
Reporting on segementwise revenue, results and capital employed
1
Segment Revenue
(a) Roll Operations
3127
-
-
(b) MBF Operations
399
-
-
(c) Others
104
-
-
Less: Inter Segment Revenue
(-) 141
Net Sales/ Income from Operations
3489
2
Segment Results:
Profit before Interest, Tax and Exceptional Items
(a) Roll Operations
201
-
-
(b) MBF Operations
(-)16
-
-
(c) Others
(-)32
-
-
Total
153
-
-
Less:(i) Interest
(-)57
-
-
(ii) Unallocable Expenditure net off Unallocable Income
-
-
-
(iii) Exceptional Items (Net)
61
-
-
Total Profit Before Tax
157
-
-
3
Capital Employed (Segment Assets and liabilities)
(a) Roll Operations
4364
-
-
(b) MBF Operations
2887
-
-
(c) Others
274
-
-

Notes

1. Figures of corresponding period regrouped where necessary.

2. The Company primarily operates in one segment i.e. Rolls and hence segmental reporting was not applicable in the previous period I.e. Junne Qtr 2004.

3. Total number of investor complaints pending at the beginning of the quarter: 1; Received :33, Disposed of : 34 during the quarter and pending at the end of the quarter : NILat the end of the quarter.

4. The above results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 14.07.2005.