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Corporate Announcement  
 
 

Kolkata, 30th January, 2010

The Board of Directors of the Company in their meeting held on Saturday, 30th January, 2010 have approved and taken on record unaudited financial results for quarter ended on 31st December, 2009.
 
Steel production in the Europe and USA has increased by more than 20% from its bottom and the Company has been able to achieve one of the best financial results  on consolidated basis as follows

(Rs in Millions)

Three months
ended on

Nine months
ended on

Year ended on

31.12.09

31.12.08

31.12.09

31.12.08

31.03.09

Total Income

1153

963

3022

3261

4005

Profit before Tax

158

-83

406

169

128

Profit after Tax

106

-73

280

101

61

EPS (Rs) – Not annualised

3.05

-2.10

8.08

2.92

1.77

Profit before tax achieved for quarter ended on 31st December, 2009 is higher by Rs 241 Millions (increased from Rs (-) 83 Millions to Rs 158 Millions) 290.36 % compared to that of corresponding quarter of the previous year. On year to date basis, consolidated Profit before tax is higher by Rs 237 Millions (ie increased from Rs 169 Millions to Rs 406 Millions) 140.24% compared to corresponding period of the previous year.

Financial results achieved on stand alone basis are as follows.

(Rs in Millions)

Three months
ended on

Nine months
ended on

Year ended on

31.12.09

31.12.08

31.12.09

31.12.08

31.03.09

Total Income

481

409

1211

1343

1675

Profit before Tax

77

41

173

199

200

Profit after Tax

51

27

114

129

127

EPS (Rs) – Not annualised

1.47

0.77

3.30

3.73

3.67

It is hoped that barring unforeseen circumstances, performance for current quarter ending on 31st March, 2010 of the Company will equally be satisfactory.

The Company is recipient of CAPEXIL Award for seventh consecutive year for outstanding export performance during financial year 2008-2009.

About  IFGL Refractories:

IFGL Refractories is a leading manufacturer of specialized Refractories having manufacturing facilities in Brazil, China, Czech Republic, Germany, India, UK and USA. Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the technology provider. Total Consolidated Income, Profit befor tax and Profit after tax for 2008-2009 were Rs 4005.53 millions, Rs 128 millions and Rs 61 millions respectively. Equity Shares are listed both on Mumbai and  National Stock Exchanges of India. For more information about IFGL Refractories, please visit www.ifglref.com

 
 
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