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    NOTES
  1. Sales are inclusive of Excise duty.
  2. Provision for Current Tax for the half year ended 30th September, 2010 is net of MAT credit of Rs. 0.75 crore as the Company is confident to generate sufficient taxable income in few years available for set off of the aforesaid credit within stipulated time (half year ended 30th September, 2009 - Rs. 11 crore; year ended 31st March, 2010 - Rs. 44.50 crore).
  3. Period-end mark-to-market loss (net) recognised in respect of outstanding derivative contracts is Rs. 7.78 crore (half year ended 30th September, 2009 - Rs. 2.73 crore, year ended 31st March, 2010 - Rs. 1.43 crore).
  4. Profit for the current quarter and half year vis-à-vis the corresponding previous periods is affected primarily due to decrease in cement prices in southern India and steep hike in rubber prices in tyre unit.
  5. The Company's Spun Pipes and Foundries Unit continues to be under suspension of work (effective 2nd May, 2008).
  6. Pending disposal (consented by the shareholders in March, 2006) of the Company's Hindusthan Heavy Chemicals Unit, the revenue / expenses of the unit (insignificant in terms of the Company's total revenue / expenses) have been and will be included in these and subsequent results till its disposal.
  7. The lockout at Birla Tyres, Balasore unit of the company effective from 16th July,2010 was lifted on 3rd August, 2010.
  8. The operations at Birla Tyres, Uttrakhand unit of the Company had to be suspended between 19th September, 2010 to 24th September, 2010 on account of unprecedented flood in that region. As a result of such flood certain inventory items got damaged for which related insurance claims of Rs 48.16 crore have been lodged and the Company within the period has also received Rs 4.00 crore as on account payment. These claims has been recognised as "Other Operating Income" receivable with an appropriate adjustment to the related inventories pending settlement of the same by the insurance company. Adjustment,as may be required and which are not currently ascertainable, will be made on final settlement of the same. Further, the Company has lodged another claim of Rs 22.00 crore on an estimated basis for damages made to certain plant and machinary items, boundary walls, roads etc. This claim together with related adjustments to the book value of respective fixed assets will be accounted for on settlement.
  9. The time frame for completion of expansion of Vasavadatta cement unit of the Company is being extended beyond 2012-13.
  10. The number of investor complaints received,disposed off and lying unresolved at the quarter ended 30th September, 2010 are as under:
 
Pending at the beginning of the quarter — Nil
Received during the quarter — 57
Disposed off during the quarter — 57
Lying unresolved at the end of quarter — Nil
  11. Statement of Assets and Liabilities as on 30.09.2010  
   
Particulars Rs in Crores
As at
30-09-2010
 As at
30-09-2009 *
 As at
31-03-2010
(Unaudited) (Unaudited) (Audited)
SOURCES OF FUNDS:      
Shareholders funds      
(a) Share Capital 45.74 45.74 45.74
(b) Reserves and Surplus 1,497.27 1,461.10 1,494.50
Loan Funds 3,974.86 2,610.00 3,340.92
Deferred Tax Liabilities (net) 329.35 238.14 328.44
Total                                                           5,847.22 4,354.98 5,209.60
       
APPLICATION OF FUNDS:      
Fixed Assets 4,031.96 3,289.25 3,844.65
Investments 64.69 104.19 51.43
Current asset , Loans and Advances      
(a) Inventories 1,226.64 716.69 916.19
(b) Sundry Debtors 665.47 477.58 542.89
(c) Cash and Bank Balances 76.91 101.00 80.45
(d) Other Current assets 76.01 35.39 30.14
(e) Loans and advances 392.17 195.26 287.46
  2,437.20 1,525.92 1,857.13
Less: Current Liabilities and Provisions      
(a) Current Liabilities 685.71 552.08 528.62
(b) Provisions 0.92 12.30 14.99
Net Current Assets 1,750.57 961.54 1,313.52
Total 5,847.22 4,354.98 5,209.60
* Not reviewed by the statutory auditors.
     
  12. The formulae used in calculation of debt service coverage ratio and interest service coverage ratio are as follows :

a) Debt service coverage ratio : Profit before interest,depreciation and tax / (interest + principal repayment)
b) Interest service coverage ratio : Profit before interest, depreciation and tax / Interest.
While calculating the above ratios, debt which has been refinanced has not been considered as repayment of principal.

  13. The Board of Directors in its meeting of 10th November, 2010 declared interim dividend at the rate of Rs 2.25 per share.
  14. Comparative figures have been regrouped or rearranged where considered necessary.
  15. The Statutory Auditors of the Company have carried out the limited review of the above unaudited financial results for the quarter and half year ended 30th September, 2010 in terms of Clause 41 of the Listing Agreement.
   
  By Order of the Board
   
  Place : Kolkata
Date : 10th November, 2010		 B. K. Birla
Chairman