For the quarter ended Sept’06 BOC India has reported net sales of Rs 124.04 crore which was 27% higher as compared to the corresponding previous quarter last year. The OPM (Operating Profit Margins) inclined by 10 basis points to 18.7%. The resultant operating profit for the quarter ended Sept’06 stood at Rs 23.21 crore which was 28% higher when compared with corresponding previous quarter last year.

The other income inclined exponentially to Rs 3.00 crore. The resultant PBIDT for the quarter ended Sept’06 stood at Rs 26.21 crore which was 42% higher as compared to corresponding previous quarter last year. With a marginal 1% rise in interest cost (Net) to Rs 0.85 crore along with a 16% fall in depreciation charges to Rs 6.20 crore, the PBT before EO ended at Rs 19.16 crore, indicating a rise of 86%.

During the quarter ended Sept’06 there was no extra ordinary items as compared to an extra ordinary income to the tune of Rs 47.03 crore during the corresponding previous quarter last year. The resultant PBT after EO for the quarter ended Sept’06 stood at Rs 19.16 crore which was 67% lower as compared to corresponding previous quarter last year.

Provision for tax (including deferred tax and fringe benefit tax) for the quarter ended Sept’06 stood Rs 7.32 crore resulting in PAT of Rs 11.84 crore for the quarter ended Sept’06 as against Rs 41.03 crore during the quarter ended Sept’05 indicating a fall of 71%.

Half year ended

The net sales revenue for half year ended Sept’06 stood at Rs 233.13 crore, up by 17%. The OPM declined by 300 bps to 17.5%. The resultant operating profit for the half year ended Sept’06 remained flat at Rs 40.81 crore.

The other income inclined exponentially to Rs 7.39 crore. The resultant PBIDT for the half year ended Sept’06 stood at Rs 48.20 crore indicating a rise of 16% when compared with corresponding period last year. With a 25% rise in interest cost (Net) to Rs 1.92 crore along with a 5% fall in depreciation charges to Rs 12.27 crore, the PBT before EO ended at Rs 34.01 crore, indicating a rise of 24%.

During the half year ended Sept’06 BOC India reported a net Income from extra ordinary items to the tune of Rs 24.29 crore as against Rs 46.63 crore when compared with the corresponding period last year. During the half year ended Sept’06, the EO Income was to the tune of Rs 24.29 crore on account of profit on sale of property. The subsequent PBT after EO stood at Rs 58.30 crore which was 21% lower when compared with corresponding period last year.

Provision for tax (including deferred tax and fringe benefit tax) for the half year ended Sept’06 stood Rs 17.96 crore resulting in PAT of Rs 40.34 crore for the half year ended Sept’06 as compared to Rs 52.39 crore during the corresponding period last year indicating a fall of 23%.

For the quarter ended Sept’06 in sales revenue terms the Process gas solutions division reported 37% growth, while the Industrial & Special products division reported 14% growth. The revenue from Process gas solutions division stood at Rs 103.66 crore while the revenue from Industrial & Special products division stood at Rs 34.63 crore. The process gas solutions contributed 75% of the total revenue while Industrial and special products contributed 25% of the total revenue.

For the quarter ended Sept’06 the Process gas solution’s PBIT stood at Rs 22.17 crore, which was 27% higher as compared to corresponding period last year, while Industrial and special product’s PBIT stood at Rs 1.40 crore as against a loss before Interest and tax to the tune of Rs 1.70 crore during the corresponding period last year. The process gas solutions contributed 94% of the total PBIT while Industrial and special products contributed 6% of the total PBIT.

For the quarter ended Sept’06, the PBIT margins of Process gas solutions division declined by 160 basis points to 21.4% while the PBIT margins of Industrial & Special Products division stood at 4.0% as against –5.6% during the corresponding previous quarter last year.

Half Year ended

For the half year ended Sept’06 in sales revenue terms the Process Gas Solutions (PGS) division reported 24% growth, while the Industrial & Special products division reported 10% growth. The revenue from PGS division stood at Rs 193.17 crore while the revenue from Industrial & Special products (ISP) division stood at Rs 66.07 crore. The process gas solutions contributed 75% of the total revenue while Industrial and special products contributed 25% of the total revenue.

For the half year ended Sept’06 the Process gas solution’s PBIT stood at Rs 40.81 crore, which was 9% higher as compared to corresponding period last year, while Industrial and special products segments’ PBIT stood at Rs 2.96 crore which was 78% higher as compared to compared to corresponding period last year. The Process gas solution contributed 93% of the total PBIT while the Industrial and special products division contributed 7% of the total PBIT for the half year ended Sept’06.

For the half year ended Sept’06, the PBIT margins of Process gas solutions division decreased by 280 basis points to 21.1% while that of Industrial & Special Products division inclined by 170 basis points to 4.5%.

Other Developments

Bellary Oxygen Company, in which BOC India holds 50% of the paid up share capital, commissioned its 855 tonnes per day Air Separation Unit at Bellary on 30^th September 2006 for supply of gases to JSW Steel as per the long term gas supply contract entered into in this regard.

BOC India commissioned a state of the art liquid compression facility at a greenfield site at Pune. This new plant in Pune is part of a long-term strategy to expand the geographical reach of the Industrial & Special Products (I&SP) business. Furthermore a special gases manufacturing facility was also commissioned at the new site in Taloja.

The Scheme of Arrangement under which the ownership of The BOC Group plc, U.K. has been acquired by the Linde AG was sanctioned by the court in U.K. and became effective on 5 September 2006, The BOC Group plc, U.K., now a member of The Linde Group, continues to hold 54.8% of the paid up share capital of BOC India.

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