BHARAT FORGE LIMITED
Regd. Office : Mundhwa, Pune 411 036
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER
ENDED 31st DECEMBER, 2004.
       
 
(Rs. in Crores)
Sr.No.
Particulars
Quarter ended
Nine Months ended
Year ended 31st March,2004
(Audited)
31th Dec., 2004 (Reviewed) 31th Dec., 2003 (Reviewed) 31th Dec., 2004 (Reviewed) 31th Dec.., 2003 (Reviewed)
             
1 Sales & Income from Operations          
  - Domestic
183.29
145.50
567.81
403.16
569.10
  - F.O.B. value of Exports & Corresponding Income
149.40
84.83
356.02
247.84
333.00
  Total Sales
332.69
230.33
923.83
651.00
902.10
  Less : Exsice Duty
21.83
18.33
66.03
49.18
70.05
  Total Net Sales / Income from Operations
310.86
212.00
857.80
601.82
832.05
   
2 Other Income
0.39
0.69
5.28
8.47
19.09
3 Total Income 311.25
212.69
 863.08 610.29 851.14
   
4 Total expenditure :
  a) (Increase) / Decrease in stock in trade
(7.72)
(0.69)
(32.53)
2.29
2.79
  b) Consumption of raw materials
143.06
79.56
391.19
219.32
315.35
  c) Manufacturing Expenses
51.59
36.15
138.88
109.80
147.61
  d) Staff Cost
18.55
13.07
51.60
40.03
53.67
  e) Others
17.83
17.64
71.05
50.86
72.43
  Total expenditure
223.31
145.73
620.19
422.30
591.85
   
5 Profit before Interest, Depreciation and Tax
87.94
66.96
242.89
187.99
259.29
   
6 Interest
8.95
7.41
25.11
24.93
32.36
   
7 Depreciation
13.55
11.93
39.05
34.65
45.77
   
8 Profit before Tax
65.44
47.62
178.73
128.41
181.16
   
9 Provision for taxation
  - Current
21.62
13.97
58.30
38.50
53.66
  - Deferred
2.39
0.64
7.17
1.24
2.60
   
10 Net Profit
41.43
33.01
113.26
88.67
124.90
   
11 Paid-up Equity Share Capital (Face Value Rs.10/-)
39.55
37.67
39.55
37.67
37.67
   
12 Reserves excluding revaluation reserves
183.56
   
13 Basic and diluted Earning per share of Rs. 10/- each (Rs.) See Note 4
10.38
8.47
28.82
22.70
32.02
   
14 Aggregate of non-promoter Shareholding
  - No of Shares
24,662,302
23,635,354
24,662,302
23,635,354
23,635,354
  - Percentage of shareholding
62.36%
62.75%
62.36%
62.75%
62.75%
             
 
     
 

Additional Information

We have given below the Combined Unaudited financial indicators of Bharat Forge Limited and its subsidiary for the quarter ended 31st December 2004

 
(Rs in Crores)
Particulars
Amount
Total Income 528.78
Profit before Interest, Depreciation and Tax 123.02
Profit before Tax 93.20
Profit after Tax 57.56

The above figures do not include the financial indicators of CDP Aluminiumtechnik GmbH & Co. KG as the effective ownership period after acquisition is negligible.

Notes :

1. Previous period's figures are regrouped wherever necessary.

2.The above results were taken on record by the Board of Directors of the Company at it's meeting held on January 15, 2005 and subjected to a limited review by the auditors of the company..

3. Company's Forging & Machining Capacity expansion program is under implementation and against the total project cost of Rs.350 crore, the Company has incurred expenditure of Rs.159.86 Crore up to 31st December,2004.

4. Consequent to the Rights issue and the allotment done on October 1,2004, the earning per share has been computed on weighted average basis and as per the requirements of the Accounting Standard -20 " Earning per Share" . The EPS for the previous period have been revised accordingly. In view of the current market price of the Company's equity shares, the option embedded in the warrants to subscribe to equity shares are,at present, not considered dilutive and hence the basic EPS is also representative of the diluted EPS.

5. During the quarter, 1 Investor complaint was received and redressed. There were no Investor complaints pending for redressal as at the commencement and end of the quarter.

6. The Company, through its wholly owned subsidiary CDP Bharat Forge GmbH (CDPBF), acquired 100% ownership interest in CDP Aluminiumtechnik GmbH & Co KG (CDPAT) on 10th December 2004 .

For Bharat Forge Limited

( B. N. Kalyani )
Chairman and Managing Director

  

Pune
Dated : January 15, 2005.