Gujarat NRE Coke Limited
NSE Symbol GUJNRECOKE
Gujarat NRE Coke has announced its (stand alone) Results for the third quarter ending December,2010.
NET SALES is Rs.439 cr – up by 80.17% from Q2 FY 2011 and 40.44% from Q3 FY 2010.
TOTAL EXPENDITURE is Rs.399 cr – up by 90.87% from Q2 FY 2011 and by 56.31% from Q3 FY 2010.
PROFIT FROM OPERATIONS is Rs.40 cr – up by 15.26% from Q2 FY 2011 and down by 30.45% from Q3 FY 2010.
NET PROFIT is Rs.21 cr – up by 112.2% from Q2 FY 2011 and down by 21.1% from Q3 FY 2010.
On a Face Value of Rs.10, the Basic EPS is Rs.0.38 compared to Rs.0.17 in Q2 FY 2011 and Rs.0.56 in Q3 FY 2011.
It is presently quoting at Rs.55 per Rs.10 share.
The company’s Australian operations are faring very well. Its Indian operations are also expanded into wind Power, steel making etc.
RESULTS TABLE :
| GUJ NRE COKE | 31-Dec-10 | 30-Sep-10 | 30-Jun-10 | 31-Mar-10 | 31-Dec-09 |
| Net Sales | 43884 | 24357 | 45215 | 39594 | 31247 |
| DIF %1 | 439 | 80.17 | -2.94 | 10.83 | 40.44 |
| Incre./decr. in SIT / WIP | -4481 | -34397 | -9253 | 9089 | -5011 |
| Traded Goods | 37931 | 48833 | 40306 | 22419 | 24620 |
| Employees Cost | 419 | 565 | 378 | 313 | 409 |
| Depreciation | 1291 | 1222 | 1205 | 1193 | 1167 |
| Other Expenditure | 4750 | 4686 | 6163 | 5454 | 4348 |
| Total Expenditure | 39910 | 20909 | 38799 | 38468 | 25533 |
| DIF %2 | 399 | 90.87 | 2.86 | 3.75 | 56.31 |
| Profit from Operations | 3974 | 3448 | 6416 | 1126 | 5714 |
| DIF %3 | 40 | 15.26 | -38.06 | 252.93 | -30.45 |
| Other Income | 2225 | 1655 | 158 | 3792 | 921 |
| Interest | 4040 | 3625 | 3538 | 4365 | 3095 |
| Profit before tax | 2159 | 1478 | 3036 | 553 | 3540 |
| Tax expense | 54 | 486 | 1032 | 419 | 872 |
| Net Profit | 2105 | 992 | 2004 | 134 | 2668 |
| DIF %4 | 21 | 112.2 | 5.04 | 1470.9 | -21.1 |
| Dividend (%) | - | - | - | 10 | - |
| Face Value (In Rs | 10 | 10 | 10 | 10 | 10 |
| Paid Up Equity | 55797 | 55785 | 54801 | 49819 | 48092 |
| Basic EPS | 0.38 | 0.17 | 0.37 | 0.02 | 0.56 |
| Diluted EPS | 0.37 | 0.17 | 0.36 | 0.06 | 0.48 |
| Public holding (%) | 52.49 | 52.48 | 53.34 | 53.54 | 55.29 |
ANNOUNCEMENTS
TO THE EXCHANGE
30-12-2010 Gujarat Nre Coke Limited has informed the Exchange that "the Company has received an intimation from M/s. Russell Vale Traders Pvt. Ltd., a promoter group company that it has purchased 2,08,00,000 convertible warrants of the Company on 28th December, 2010 thru open market. These convertible warrants have a present paid-up value of Rs. 5 each and have been acquired by M/s. Russell Vale Traders Pvt. Ltd, @ Rs. 5.25 each".
28-12-2010 Gujarat Nre Coke Limited has informed the Exchange that the Management Committee of the Board of Directors of the Company at its meeting held on December 27, 2010 has interalia decided : (1) Allotted 6,00,00,000 convertible warrants to promoters / promoter group company on a preferential/ private placement basis @ Rs. 62.50 per share; (2) Allotted 1,02,525 Equity Shares of Rs. 10/- each at a premium of Rs. 13.86 per share and 10,252 "B" Equity Shares of Rs. 10/- each (towards bonus) pursuant to Exercise letter(s) received from the option holder(s) for conversion of options held by them under Employee Stock Option Scheme, 2005. Consequently, the Paid-up Capital of the Company has increased from Rs. 557,85,72,210 to Rs. 557,96,99,980 comprising of 50,72,45,454 Equity Shares of Rs. 10/- each and 5,07,24,544 "B" Equity Shares of Rs. 10/- each.
29-11-2010 Gujarat Nre Coke Limited has informed the Exchange regarding a press release dated November 29, 2010, titled "Gujarat NRE's Australian Operations report Half yearly PAT of Rs. 120 Crores".
24-11-2010 Gujarat Nre Coke Limited has informed the Exchange regarding a press release dated November 24, 2010, titled "Gujarat NRE Coke Ltd's Australian Subsidiary Gujarat NRE Coking Coal Ltd declares excellent H1 results as Turnover Doubles, Record Growth in Profits".
23-10-2010 Gujarat Nre Coke Limited has informed the Exchange that the Board of Directors at its meeting held on October 21, 2010 has decided as follows - a) To issue Guarantee(s) subject to the approval of the shareholders for an amount not exceeding USD 200 million or INR. 1000 crores whichever is higher relating to borrowings to be availed by Gujarat NRE Cooking Coal Ltd. an Australian Subsidiary for mine development activities at its coking coal mines in Australia. b) In supersession to its resolution passed on September 10, 2010, to issue Securities (including Foreign Currency Convertible Bonds) in one or more tranches, for an amount not exceeding USD 200 million or INR 1000 crore whichever is higher subject to the approval of shareholders/others requisite approvals and on such terms and conditions as may decided by the Board. Further, Mr. Rajendra Prasad Jain, Executive Director (Whole Time Director) of the company has resigned from his office due to health reasons.
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