NOTE ON PERFORMANCE FOR THE QUARTER ENDED 30TH JUNE 2008 AND YEAR
ENDED 30TH JUNE 2008
The company has managed to continue a solid financial performance during the last
quarter of the financial year.
Despite power generation figures being average and on par with expected levels for this
quarter, the bottom line performance was extra-ordinary due to continued bullish trends
in the manganese markets.
SNAPSHOT OF THE RESULTS ARE GIVEN BELOW : (Rs. in lakhs)
Quarter
ended June
30,2008
Quarter
ended 30th
June 2007
Year ended
June 30,
2008
Year ended
June 30,
2007
GROSS SALES 3780 1881 11551 7293
PBDIT 870 336 2671 1209
PBT 704 161 2027 514
The smelter division’s performance was also aided by increased focus on extra Low
carbon manganese alloy production which fetched higher premium compared to the
normal medium carbon alloys.
OUTLOOK :
The South West monsoon has not set in over Kerala yet. So far, the monsoon trends are
quite disturbing.
The smelter division continues to perform well even though stainless steel markets are
showing some signs of weakness. The company has contracts for its finished products
for production until the end of this quarter and the raw material sources too have been
tied up.
The Indonesian manganese ore mines venture is progressing on expected lines and is
expected to yield commercial grade Manganese ore by middle of August, this year. Upon
good volume availability of manganese ore from its captive mines, the company’s raw
material cost would decrease significantly and bottomline performance would further
improve.
Subject to the South west monsoon not playing spoil sport, the company is expected to
maintain good performance levels for this quarter also.
With thanks,
-sbalu |
Offline
Moneycontrol 
