For the quarter ended Sept’07, the net sales revenue of Vesuvius India stood at Rs 81.10 crore, which was 18% higher when compared with corresponding previous quarter last year. The OPM (Operating Profit Margin) increased by 30 basis points to 17.1%. The resultant Operating Profit for the quarter ended Sept’07 was Rs 13.90 crore which was 21% higher when compared with quarter ended Sept’06 figures.

The Raw material cost and staff cost decreased (as a % of sales net of stock adjustment) from 39.3% to 35.3% and from 6.2% to 5.5% respectively. The cost of purchasing finished goods and other expenditure Increased (as a % of sales net of stock adjustment) from 17.0% to 18.2% and from 21.0% to 23.8%.

During the quarter ended Sept’07 other income increased by 71% to Rs 1.2 crore. The resultant PBIDT for the quarter ended Sept’07 was Rs 15.10 crore which was 24% higher when compared to the corresponding previous quarter last year. The Interest expense for the quarter ended Sept’07 was Rs 0.60 crore which was 200% higher when compared with the corresponding previous quarter last year. The depreciation charges for the quarter ended Sept’07 Increased by 25% to Rs 2.00 crore when compared to the corresponding previous quarter last year. Consequently, for the quarter ended Sept’07 the PBT of Vesuvius India stood at Rs 12.50 crore, indicating a rise of 20% when compared with the corresponding previous quarter last year.

Provision for tax (including deferred tax and fringe benefit tax) for the quarter ended Sept’07 stood Rs 4.30 crore resulting in PAT of Rs 8.20 crore for the quarter ended Sept’07 as compared to Rs 6.60 crore during the quarter ended Sept’06 indicating a rise of 24%.

Nine months ended results

For the nine months ended Sept’07, the sales revenue of Vesuvius India stood at Rs 229.60 crore, which was 20% higher when compared with corresponding period last year. The OPM (Operating Profit Margin) increased by 70 basis points to 17.1%. The resultant Operating Profit for the nine months ended Sept’07 was Rs 39.30 crore which was 26% higher when compared with nine months ended Sept’06 figures.

The Raw material cost, cost of purchasing finished goods and staff cost Increased (as a % of sales net of stock adjustment) from 36.2% to 36.3%, from 17.0% to 18.2% and from 5.7% to 6.0% respectively. The other expenditure decreased (as a % of sales net of stock adjustment) from 24.3% to 22.4%.

During the nine months ended Sept’07 other income increased by 4% on Y-o-Y basis to Rs 2.80 crore. The resultant PBIDT for the nine months ended Sept’07 was Rs 42.10 crore which was 24% higher when compared with corresponding period last year. The Interest expense for the nine months ended Sept’07 was Rs 1.60 crore which was 78% higher when compared with the corresponding period last year. The depreciation charges for the nine months ended Sept’07 Increased by 34% to Rs 6.30 crore when compared to the corresponding period last year. Consequently, for the nine months ended Sept’07 the PBT of Vesuvius India stood at Rs 34.20 crore, indicating a rise of 21% when compared with the corresponding period last year.

Provision for tax (including deferred tax and fringe benefit tax) for the nine months ended Sept’07 stood Rs 12.00 crore resulting in PAT of Rs 22.20 crore for the nine months ended Sept’07 as compared to Rs 18.40 crore during the nine months ended Sept’06 indicating a rise of 21%.

The stock is currently trading around Rs 230.0