Unaudited Financial Results (Provisional)
for the quarter ended 30/09/2008

Sl.No Particulars Stand-alone Results Consolidated results
Unaudited Audited Unaudited Audited
Quarter ended Half Year ended Year Ended Quarter ended Half Year ended Year Ended
September 30, 2008 September 30, 2007 September 30, 2008 September 30, 2007 March 31, 2008 September 30, 2008 September 30, 2007 September 30, 2008 September 30, 2007 March 31, 2008
(I) (II) (III) (IV) (V) (VI) (VII) (VIII) (IX) (X) (XI) (XII)
(1) a) Net sales/Income from operations 3,391.48 1,796.53 4,791.87 2,216.57 3,757.34 3,391.48 1,796.49 4,791.87 2,216.55 3,757.34
(b) Other operating income 13.26 6.21 24.77 8.98 35.63 13.30 6.21 24.77 8.99 36.07
  Total 3,404.74 1,802.74 4,816.64 2,225.55 3,792.97 3,404.78 1,802.70 4,816.64 2,225.54 3,793.41
(2) Expenditure                    
(a) (Increase)/Decrease in stock in trade and work in progress (159.43) 694.22 (371.57) 170.82 65.70 (159.43) 694.22 (371.57) 170.82 65.78
(b) Consumption of raw materials 2,460.78 729.14 3,565.74 1,425.75 2,597.78 2,460.78 729.14 3,565.74 1,425.75 2,597.78
(c) Purchase of traded goods 639.18 38.71 828.24 75.09 137.12 639.21 38.71 828.27 75.09 137.12
(d) Employee costs 31.47 24.42 58.07 46.54 97.66 31.46 24.44 58.07 46.58 97.72
(e) Depreciation 13.09 11.84 25.51 23.50 52.13 13.11 11.86 25.55 23.54 52.21
(f) Other expenditure 144.91 127.38 274.66 242.43 446.47 144.98 127.24 274.69 242.29 446.16
(g) Total 3,130.00 1,625.71 4,380.65 1,984.13 3,396.86 3,130.11 1,625.61 4,380.75 1,984.07 3,396.77
(3) Profit from operations before other income, interest and exceptional items 274.74 177.03 435.99 241.42 396.11 274.67 177.09 435.89 241.47 396.64
(4) Other income 12.41 0.56 14.48 1.48 7.14 12.32 0.55 14.39 1.48 7.14
(5) Profit before interest and exceptional items 287.15 177.59 450.47 242.90 403.25 286.99 177.64 450.28 242.95 403.78
(6) Interest 20.05 15.73 35.60 37.49 69.83 21.25 15.78 36.80 37.59 69.85
(7) Profit after interest but before exceptional Items 267.10 161.86 414.87 205.41 333.42 265.74 161.86 413.48 205.36 333.93
(8) Exceptional items (Refer Note 5) 0 0 158.59 0 0 0 0 158.59 0 0
(9) Profit/(Loss) from ordinary activities before tax 267.10 161.86 573.46 205.41 333.42 265.74 161.86 572.07 205.36 333.93
(10) Tax expense 84.69 56.46 197.19 74.08 123.66 84.69 56.46 197.19 74.08 123.84
(11) Net Profit/(Loss) for the period 182.41 105.40 376.27 131.33 209.76 181.05 105.40 374.88 131.28 210.09
(12) Paid-up equity share capital(Face value - Rs.2 per equity share) 27.98 25.57 27.98 25.57 27.98 27.98 25.57 27.98 25.57 27.98
(13) Reserves excluding revaluation reserves as per Balance Sheet of previous accounting year 0 0 0 0 766.46 0 0 0 0 767.52
(14) Earnings per share(for the period - not annualised)                    
  - Basic (Rs.) 13.04 8.24 26.90 10.27 14.99 12.94 8.24 26.80 10.27 15.02
  - Diluted (Rs.) 12.96 7.52 26.74 9.37 14.94 12.86 7.52 26.64 9.37 14.96
(15) Public Shareholding                    
  - Number of shares 50,787,328 38,750,146 50,787,328 38,750,146 50,787,328 50,787,328 38,750,146 50,787,328 38,750,146 50,787,328
  - Percentage of shareholding 36.30% 30.30% 36.30% 30.30% 36.30% 36.30% 30.30% 36.30% 30.30% 36.30%
                       
(16) Capital employed 2,622.23 1,686.49 2,622.23 1,686.49 1,878.88 2,685.33 1,687.46 2,685.33 1,687.46 1,880.14

Note:

  1. The above financial results are drawn in accordance with the accounting policies consistently adopted by the Company.
  2. The results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on October 22, 2008.
  3. The auditors have carried out a Limited review of the stand-alone and consolidated results of the Company for the quarter and half-year ended ended September 30, 2008.
  4. The Subsidy income for the half-year ended September 30, 2008 has been recognised having regard to the management's understanding of the current subsidy scheme for the period for which notification has been issued and based on management estimate for the subsequent period.
  5. Exceptional item represents income received as per the terms of the Business Assistance Agreement entered into with Foskor Pty Limited, South Africa.
  6. Pursuant to the merger of Godavari Fertilisers and Chemicals Limited (GFCL) with the Company effective April 1, 2007, corresponding figures for the quarter and half-year ended September 30, 2007 have been recasted to include those of GFCL.
  7. During the current quarter, the Company has invested an amount of Rs. 2.19 crores towards 50% Equity share capital of Coromandel Getax Phosphates Pte Limited, Singapore formed as a 50:50 joint venture with Getax Phosphares Pte Limited, Singapore.
  8. The Company, its joint venture and one of its subsidiary companies are primarily engaged in the farm inputs business, which in the context of Accounting Standard 17, is considered the only business segment. In respect of investment activity of one of its other subsidiary company and the retail business of the Company, since these are not material, disclosure of business segment information is not considered necessary at this stage.
  9. During the current quarter, 2 investor complaints were received and one is pending at the end of the quarter. There were no investor complaints pending at the beginning of the quarter.
  10. Figures of the previous quarters/period have been regrouped and reclassified, wherever considered necessary.

Place : Secunderabad

Dated: October 22, 2008

V. Ravichandran

Managing Director

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