Financial Highlights

Highlights of Quarter ended 30^th June 2008

• Gross Sales stood at Rs 955.04 crores – up by 17%

• PBT at stood at Rs 33.86 crores – up by 8%

• Net Profit after Tax stood flat at Rs 20.24 crore

Highlights of Nine months ended 30^th June 2008

• Gross Sales stood at Rs 2718.69 crores – up by 13%

• PBT at stood at Rs 106.38 crores – up by 61%

• Net Profit after Tax stood flat at Rs 65.00 crores – up by 54%

 Highlights of the call

• The EBIDTA margins for the quarter under review stood at 9.1%, while that for the nine months ended stood at Rs 9.8%.

• The expansion of capacities in Truck/Bus radials, OTR and manufacture of Specialty Tyres, an outlay of Rs.480 crores is well under implementation. 

• To part finance the expansions, the Rights Issue at a price of Rs 85 (including premium of Rs 75) is opening on 4^th August 2008.  The Company has already tied up all the finances for these expansion projects.

• These projects are expected to be completed by the end of calendar year 2008.

• The Management expects capacity expansion and Tornel acquisition to lead further growth and improvement in the profitability.

• The management expects Tornel margin to be close to 10% in a year’s time.

• The Total Debt on books stands at Rs 900 crore.

• The Price hike in the 9 months period is to the extent of 8%.

• The volume growth in terms of tonnages was close to 5% for the quarter under review while it was 9.6% for the 9 months ended.