KALYANI STEELS LIMITED
Regd. Office : Mundhwa, Pune - 411 036

AUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED 30^TH MARCH, 2006

(Rs.in Million)
Sr.No.	Particulars	Nine Months Ended 31st December, 2005 (Reviewed)	Quarter Ended 31st March, 2006 (Reviewed)	Quarter Ended 31st March, 2005 (Reviewed)	Year Ended 31st March,2006 (Audited)	Year Ended 31st March,2005 (Audited)
1	Sales and Income from Operations	5,851.815	1,984.020	2,108.318	7,835.835	9,308.210
	Less : Excise Duty	1,584.066	523.640	490.771	2,107.706	1,599.477
	Net Sales and Income From Operations	4,267.749	1,460.380	1,617.547	5,728.129	7,708.733
2	Other Income	12.842	16.327	4.757	29.169	9.935
	Total Income	4,280.591	1,476.707	1,622.304	5,757.298	7,718.668
3	Total Expenditure
	a) (Increase)/Decrease in stock in trade	(104.383)	(59.093)	15.778	(163.476)	(20.273)
	b) Consumption of raw materials	2,254.258	821.898	964.785	3,076.156	5,600.351
	c) Conversion Cost	562.567	106.217	184.037	668.784	683.962
	d) Goods purchased for resale	153.997	47.110	16.373	201.107	40.867
	e) Staff Cost	116.228	54.642	27.806	170.870	110.774
	f) Others	349.184	188.223	101.768	537.407	382.713
	Total Expenditure	3,331.851	1,158.997	1,310.547	4,490.848	6,798.394
4	Profit before Interest, Depreciation, Tax and Extra Ordinary Item.	948.740	317.710	311.757	1,266.450	920.274
5	Extra Ordinary Item Of Income:
	Profit on sale of investments.	315.273	-	-	315.273	-
6	Profit before Interest, Depreciation, Tax and After Extra Ordinary Item.	1,264.013	317.710	311.757	1581.723	920.274
7	Interest:	31.170	15.057	10.889	46.227	76.587
8	Depreciation	135.763	45.846	51.048	181.609	194.931
9	Less:Trial Run Income net of expenditure	0.380	-	3.571	0.380	3.571
10	Profit/(Loss) before tax	1,096.700	256.807	246.249	1353.507	645.185
11	Prior Period adjustments((Debit)/Credit)	(0.291)	(0.632)	(0.050)	(0.923)	(0.305)
12	Tax Expenses:
	Provision for Taxation	74.714	43.586	18.905	118.300	48.725
	Deferred Tax(Net Debit/(Credit))	169.460	53.972	30.128	223.432	166.373
	Fringe Benefit Tax	1.150	0.450	-	1.600	-
13	Net Profit/(Loss)	851.085	158.167	197.166	1,009.252	429.782
14	Paid-up Equity Share Capital (excluding Amount Received on Forfeited Shares)(face value Rs. 10/-)	420.531	420.531	420.531	420.531	420.531
15	Reserves excluding revaluation reserves	-	-	-	2,896.815	2,031.417
16	Basic and diluted EPS for the period before Extra Ordinary Item.	12.74	3.76	4.69	16.50	10.23
17	Basic and diluted EPS for the period after Extra Ordinary Item.	20.24	3.76	4.69	24.00	10.23
18	Aggregate of Non-Promoter Shareholding
	Number of Shares	18,894,816	18,894,816	18,879,342	18,894,816	18,879,342
	Percentage of Shareholding	44.93%	44.93%	44.89%	44.93%	44.89%

NOTES :

1. The Board of Directors have recommended a Dividend of 30% on the Equity Share Capital of the Company, subject to approval of the shareholders.
2. The supply and procurement of the products between the constituents of the composite manufacturing facility at Ginigera, under Strategic alliance effective 1st February 2005, are carried out on " Conversion Basis " as against " Sales ". Hence, the above revenues and components of cost of goods sold in respect of the current quarter are strictly not comparable with previous period. However, this has no effect on the profits of the above periods.
3. During the quarter three investor complaints were received and redressed. There were no investor complaints pending for the redressal as at the commencement and end of the quarter.
4. Extra Ordinary item of income for the nine months and year ended 31st March, 2006 represents profit on sale of shares of Kalyani Brakes Limited.
5. Previous year figures have been regrouped and reclassified wherever necessary.
6. The above results were taken on record by the Board of Directors of the Company at its meeting held on 26th June,2006.

Audited Consolidated Financial Results

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