ORIENTAL CARBON

ORIENTAL CARBON & CHEMICALS LTD.
(Regd. Office : 31, Netaji Subhash Road, Kolkata - 700 001)

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2008

(Rs. In Lacs)

Particulars

Nine months ended

Quarter ended

Financial year ended

31.12.2007
(Unaudited)

31.03.2008
(Unaudited)

31.03.2007
(Unaudited)

31.03.2008
(Audited)

31.03.2007
(Audited)

1. Sales (Net of Excise)/Income from Operations

2. Other Income

3. Total Revenue (1+2)

4. Total Expenditure
     a) (Increase)/Decrease in Stock in trade and Work-in-progress
     b) Consumption of Raw Materials
     c) Power and fuel
     d) Employees Cost
     e) Depreciation
     f) Other Expenditure

5. Interest (Net)

6. Exceptional items

7. Profit/(Loss) from Ordinary Activities before Tax (3-4-5-6)

8. Provision for Taxation -
      Current Tax (includes fringe benefit tax)
     Taxation Adjustments in respect of earlier years (Net)
     Deferred Tax (Net)

9. Net Profit/(Loss) from Ordinary Activities after Tax (7-8)

10. Extraordinary items

11. Net Profit/(Loss) (9-10)

12. Paid-up Equity Share Capital (Face Value Rs. 10/- each)

13. Reserves Excluding Revaluation Reserve
(as per last Audited Balance Sheet)

14. Earnings Per Share (EPS)
a) Basic and Diluted EPS before Extraordinary items
b) Basic and Diluted EPS after Extraordinary items

15. Public share holding :
Number of shares
Percentage of share holding

6247.91

100.33

6348.24

5890.38
403.89

2202.14
906.67
562.01
323.55
1492.12

216.41

241.45

46.63
-
20.17

174.65

917.63

1.91
1.91

4770001
52.07%

2715.78

91.33

2807.11

2718.42
63.78

1169.49
371.74
179.11
115.53
818.77

7.26

93.87

35.75
(1.36)
(14.11)

(13.02)

980.05

(0.14)
(0.14)

4764373
48.69%

1550.62

66.29

1616.91

1424.45
(118.04)

560.64
256.40
174.81
107.43
443.21

53.08

139.38

17.92
134.18
59.43

(72.15)

917.63

(0.79)
(0.79)

4777602
52.15%

8963.69

191.66

9155.35

8608.80
467.67

3371.63
1278.41
741.12
439.08
2310.89

297.84

248.71

82.38
(1.36)
6.06

161.63

980.05

4928.05

1.76
1.76

4764373
48.69%

6445.52

162.92

6608.44

5882.95
(280.34)

2183.48
1202.21
671.30
437.19
1669.11

241.08

484.41

50.22
122.99
21.72

289.48

917.63

4707.43

3.16
3.16

4777602
52.15%

Segment wise Revenue, Results and Capital Employed, under clause 41 of the listing agreement

Particulars

Nine months ended

Quarter ended

Financial Year ended

31.12.2007
(Unaudited)

31.03.2008
(Unaudited)

31.03.2007
(Unaudited)

31.03.2008
(Audited)

31.03.2007
(Audited)

1. Segment Revenue
     a) Chemicals
     b) Insoluble Sulphur
     Total Revenue
     Less : Inter Segment Revenue
     Net Revenue

2. Segment Results
     (Profit(+)Loss(-) before Tax and Interest)
     a) Chemicals
     b) Insoluble Sulphur
     Total

     Less : Interest (Net)
     Total Profit before Tax

3. Capital Employed
     (Segment Assets - Segment Liabilities)
     a) Chemicals
     b) Insoluble Sulphur
     c) Unallocated

     Total

1222.34
            5269.27
6491.61
               143.37
            6348.24

215.78
242.08
457.86

216.41
241.45

796.58
7258.77
_1388.01

9443.36

715.42
            2093.19
2808.61
                _1.50
            2807.11

178.77
_ (90.08)
88.69

81.43
__7.26

827.73
7446.05
1065.70

9339.48

264.09
           1402.65
1666.74
             _49.83
           1616.91

6.61
_185.85
192.46

53.08
139.38

475.98
7426.42
___1229.16

9131.56

1937.76
            7362.46
9300.22
              144.87
            9155.35

394.55
152.00
546.55

297.84
248.71

827.73
7446.05
__1065.70

9339.48

970.60
            5816.60
6787.20
               178.76
            6608.44

(3.95)
729.44
725.49

241.08
484.41

475.98
7426.42
_1229.16

9131.56

Notes :

Previous year's figures have been regrouped wherever necessary.
Regarding the observations of the Auditors in their report for the year ended 31st March, 2008, the position of loans and advances continues to be similar for reasons stated in the relevant Notes to Accounts.
The Board of Directors of the Company had allotted 1435000 Warrants on preferential basis to the Promoter and entities in the Promoter Group in accordance with the SEBI Guidelines. The Warrant holders had an option of subscribing for one equity share of the company of Rs. 10/- each per Warrant at a price of Rs. 33.16 per equity share to be exercises within a period of 18 months from the date of allotment ie 6th June, 2007. 624250 allottees of the Warrants have exercised their option and accordingly 624250 equity shares have been allotted to them on 31st March, 2008 which shall rank paripassu in all respects with the existing Equity Shares of the Company. The share issue expenses in respect of the said preferential issue amounting to Rs. 1349663 have been adjusted against Share Premium.
Pursuant to the Companies Accounting Standards Rules, 2006 issued by the Central Government, the Company has adopted revised Accounting Standard (As-15), 'Employee Benefits' with effect from 01.04.2007 and the transitional liability for gratuity and lave encashment amounting to Rs. 16,34,594/- (Net of Deferred Tax) has been adjusted against opening General Reserve.
In view of the announcement issued by the Institute of Chartered Accountants of India on "Accounting for Derivatives" the Company has provided for losses amounting to Rs. 61,54,165/- in respect of derivative contracts outstanding at the year end on prudent basis. These mark to market losses are expected to flow back through future cash flows.
The Profitability of the Company is affected by Steep Increase in the cost of Raw Material and lower realisation due to appreciation of Rupee.
The company did not have any investor complaints pending at the beginning of the Quarter. During the Quarter three complaints were received and resolved.
The Board of Directors have recommended a dividend of 5% on the Equity share of Rs. 10/- each for the year 2007-08 amounting to Rs. 57.24 Lacs including tax on dividend Rs. 8.31 Lacs.
The above results were reviewed by the Audit Sub-Committee and approved by the Board of Directors in its meeting held on 30th May, 2008.

By Order of the Board

Place : NEW DELHI (H. C. Taneja)
Date : 30th May, 2008 Whole Time Director