2nd Quarter Results

The General Manager 

Department of Corporate Services

Bombay Stock Exchange Limited,

Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai - 400 001

The Manager (Listing),

National Stock Exchange of India Ltd. 

Exchange Plaza

Bandra Kurla Complex, Bandra (E)

Mumbai - 400 051

REI AGRO LIMITED

Regd. Office: 46C, CHOWRINGHEE ROAD,

"EVEREST HOUSE", KOLKATA-71.

 UNAUDITED FINANCIAL RESULTS FOR THE QUARTER YEAR ENDED 30TH SEPTEMBER 2008

 (RS. IN LACS)

SL.

NO.

PARTICULARS

QTR.  ENDED  30.09.2008 (UNAUDITED)

QTR.  ENDED  30.09.2007 (UNAUDITED)

HALF YEAR ENDED 30.09.2008 (UNAUDITED)

HALF YEAR ENDED 30.09.2007 (UNAUDITED)

YEAR ENDED 31.03.2008 (AUDITED)

INCOME

1

NET SALES/INCOME FROM OPERATION 

43,273.86 

46,073.54 

102,443.77 

76,990.51 

173,501.22 

2

EXPENDITURE

A) (INCREASE)/DECREASE IN STOCK IN TRADE

(38,726.31)

(9,207.83)

(27,210.43)

(14,172.19)

(8,742.04)

B) CONSUMPTION OF RAW MATERIALS 

67,083.80 

42,139.87 

97,269.06 

68,755.09 

117,917.04 

C) PURCHASE OF TRADED GOODS

-

3,540.28 

-

3,860.87 

20,296.53 

D) EMPLOYEES COST

275.11 

380.04 

543.01 

618.97 

1,148.18 

E) DEPRECIATION

532.79 

515.73 

1,059.63 

950.51 

1,990.72 

F) OTHER EXPENDITURE

4,014.95 

2,089.88 

8,592.62 

3,362.05 

11,181.41 

G) TOTAL

33,180.34 

39,457.97 

80,253.89 

63,375.30 

143,791.84 

3

PROFIT FROM OPERATIONS BEFORE OTHER INCOME AND INTEREST (1-2)

10,093.52 

6,615.57 

22,189.88 

13,615.21 

29,709.38 

4

OTHER INCOME

164.60

10.21

217.58 

18.16 

357.83 

5

PROFIT FROM OPERATIONS BEFORE INTEREST (3+4)

10258.12

6625.78

22407.46

13633.37

30067.21

6

INTEREST/FINANCE COST

7,438.43 

 3,290.74 

15,242.81 

6,320.69 

17,737.30 

7

PROFIT BEFORE TAX

 2,819.69 

 3,335.04 

7,164.65 

7,312.68 

12,329.91 

8

PROVISION FOR TAXATION-CURRENT

1,001.97 

407.89 

2,564.05 

1,274.60 

2,000.00 

9

PROVISION FOR FRINGE BENEFIT TAX 

4.00 

4.00 

9.00 

7.00 

9.50 

10

PROVISION FOR TAXATION-EARLIER YEARS

-

-

-

-

15.00 

11

PROFIT AFTER TAX

1,813.72 

 2,923.15 

 4,591.60 

6,031.08 

10,305.41 

12

PAID UP EQUITY SHARE CAPITAL

2,890.30 

4,817.17 

2,890.30 

4,817.17 

2,890.30 

(FACE VALUE RS. 10 PER SHARE)

13

4% NON-CONVERTIBLE PREFERENCE SHARE

4,000.00 

4,000.00 

4,000.00 

4,000.00 

4,000.00 

( FACE VALUE RS. 100/- PER SHARE)

14

RESERVE EXCLUDING REVALUATION RESERVE 

47,637.75 

15

EARNING PER SHARE(EPS)

- BASIC 

 6.11 

 6.10 

15.56 

12.58 

35.39 

- DILUTED 

6.11 

6.07 

15.56 

12.53 

34.78 

16

 AGGREGATE OF PUBLIC SHAREHOLDING

NO OF SHARES

28,924,295 

31,232,468 

28,924,295 

31,232,468 

28,193,370 

PERCENTAGE OF SHAREHOLDING

60.04 

65.13 

60.04 

65.13 

62.77 

 SEGMENT WISE REVENUES RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT

SL.

NO.

PARTICULARS

QTR.  ENDED  30.09.2008 (UNAUDITED)

QTR.  ENDED  30.09.2007 (UNAUDITED)

HALF YEAR ENDED 30.09.2008 (UNAUDITED)

HALF YEAR ENDED 30.09.2007 (UNAUDITED)

YEAR ENDED 31.03.2008 (AUDITED)

1

Segment Revenue (net sale/income from each

segment should be disclosed under this head)

a) Segment Rice

42,099.60 

40,931.89 

100,503.74 

70,768.18 

170172.68

b) Segment Wind Farm & Others

1,174.26 

892.46 

1,940.03 

1,502.14 

2,178.17 

c) Retail Segment

-

 4,249.19 

-

4,720.19 

3,264.87 

Total 

43,273.86 

46,073.54 

102,443.77 

76,990.51 

175,615.72 

Less: Inter Segment Revenue 

-

-

-

-

1,758.00 

Net Sales/Income from operations

43,273.86 

46,073.54 

102,443.77 

76,990.51 

173,857.72 

2

Segment Results (Profit) (+)/Loss (-) before

Tax and Interest from each Segment 

a) Segment Rice

9,823.85 

 5,924.29 

21,524.77 

12,558.70 

29,146.33 

b) Segment Wind Farm & Others

269.67 

440.33 

665.11 

775.56 

746.79 

c) Segment Retail

-

250.95 

-

280.95 

172.76 

Results

10,093.52 

6,615.57 

22,189.88 

13,615.21 

30,065.88 

Less: i) Interest 

7,438.43 

3,290.74 

15,242.81 

6,320.69 

17,737.31 

ii) Other unallocable expenditure net of unallocableincome

(164.60)

(10.21)

(217.58)

(18.16)

(1.33)

Total Profit before Tax 

2,819.69 

3,335.04 

7,164.65 

 7,312.68 

12,329.90 

3

Capital Employed (Segment Assets - Segment Liabilities) 

a) Segment Rice

51,238.64 

52,836.97 

51,238.64 

52,836.97 

47,258.95 

b) Segment Wind Farm & Others

8,029.17 

6,732.80 

8029.17

6732.80

6,989.85 

c) Segment Retail

-

 3,286.51 

0

3286.51

-

c) Unallocable

(257.08)

(7,892.23)

(257.08)

(7892.23)

279.25 

Total 

59,010.73 

54,964.05 

59,010.73 

54,964.05 

54,528.05 

NOTES

1

THE ABOVE FINANCIAL RESULTS HAVE BEEN REVEIWED BY THE AUDIT COMMITTEE AND TAKEN ON RECORD BY THE BOARD OF DIRECTORS AT THEIR MEETING HELD ON 25TH OCTOBER, 2008

2

 THE ABOVE RESULTS ARE SUBJECT TO LIMITED REVIEW BY STATUTORY AUDITORS. 

3

AS PER HON'BLE KOLKATA HIGH COURT'S ORDER , THE COMPANY HAS ADDED Rs. 32.39 LACS IN SECURITIES PREMIUM A/C TOWARDS DEFERRED TAX LIABILITY COMPUTED AS PER AS-22 ISSUED BY THE INSTITUTE OF

CHARTERED ACCOUNTANTS OF INDIA. 

4

FIGURES FOR QUARTER ENDED SEPTEMBER 30, 2008, HALF YEARLY ENDED SEPTEMBER 30,2008 AND YEARLY ENDED MARCH 31, 2008 ARE AFTER TAKING EFFECT OF THE TRANSFER OF THE RETAIL DIVISION TO REI SIX TEN RETAIL LIMITED AS PER THE SCHEME OF ARRANGEMENT TAKING EFFECT POST THE APPROVAL BY THE HON'BLE HIGH COURT OF CALCUTTA

5

THERE WERE NO INVESTOR COMLPAINTS OUTSTANDING AT THE BEGINNING OF THE QUARTER. FIVE INVESTOR COMPLAINTS WERE RECEIVED DURING THE QUARTER AND FIVE INVESTOR COMPLAINTS WERE RESOLVED DURING THE QUATER. THERE WERE NO INVESTOR'S COMPLAINTS PENDING AT END OF THE QUARTER

6

 AGGREGATE PUBLIC HOLDING ARE DENOTED BEFORE TAKING THE EFFECT OF THE SCHEME OF ARRANGEMENT

7

 FIGURES HAVE BEEN REGROUPED/REARRANGED WHEREVER CONSIDERED NECESSARY. 

 FOR AND ON BEHALF OF THE BOARD OF DIRECTORS 

Date : 25TH OCTOBER 2008

SANDIP JHUNJHUNWALA

Place : NEW DELHI

MANAGING DIRECTOR