The company's Audited Results for the quarter ended 30th September,
2007 were adopted by the board on 30th October,2007. The quarter
under review has shown a decline in performance as compared to the
same quater last year
.
The comparison of the two quarters is as follows:
Year
Ending
Quarter ending
Sep 30,07
Quarter ending
Sep 30,06
Net
Sales Revenue (Rs. Crore)
1. Domestic
3.11
3.18
2.
Exports
4.60
5.39
Total
7.71
8.57
Profit
Before Interest, Depreciation and Taxes(PBIDT) (Rs. In Crore)
1.56
2.30
PBIDT
as % of Net Sales
20.2%
26.8%
Profit
/ (Loss) before tax (Rs. in Crore)
0.69
1.35
Profit
/(Loss) after Tax ( Rs.crore)
0.47
1.05
There
was significant drop in exports due to business shrinkage/migration
at some major customers and inventory corrections at a few others.
There was a 20% drop in component exports volume compared to
previous year Q2. Efforts to develop additional business have
yielded results in terms of new customers whose initial orders are
in process. Weakening US Dollar also led to drop in
revenues/margins.
Price
of Zinc Oxide which is a significant raw material shot up by over
20% a adding to raw material costs and eroding gross margins.
We
commenced commerical production from Unit-2 in this quater. We are
targeting to manufacture higher value added products from this unit.
With the additional capacity in place, I look forward to better
results in the fourthcoming quaters of the current year.
