Arshiya International Ltd
                                          (Formerly known as IID Forgings Limited)
           Registered Office : 7th Floor, Twin Arcade, C-Wing, Military Road, Marol-Maroshi, Andheri (East), Mumbai - 400 059.
CONSOLIDATED AND STANDALONE UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER/HALF YEAR ENDED SEPTEMBER 30, 2008
STANDALONE FINANCIAL RESULTS
Rs. In Lacs
Sr.No. Particulars Quarter Ended Half Year Ended Year Ended
             
    30.09.2008 (Unaudited) 30.09.2007 (Unaudited)30.09.2008 (Unaudited) 30.09.2007 (Unaudited) 31.03.2008
(Audited)
1. (a) Net Sales / Income from Operations 7,539.48 4,481.26
14,772.29 8,418.78 20,191.38
  (b) Other Operating Income -
- - - -
  (c) Total Operating Income 7,539.48 4,481.26 14,772.29 8,418.78 20,191.38
2. EXPENDITURE          
  (a) Increase/ decrease in stock in trade and work in progress - - - - -
  (b) Consumption of raw materials - - - - -
  (c) Purchases (Trading) /Cost of Operations 6,353.03 3,795.65 12,559.73 7,255.97 17,317.62
  (d) Employee Cost 270.06 151.37 520.23 288.04 601.94
  (e) Depreciation 21.49 13.35 39.47 26.76 64.25
  (f) Other administrative Expenses 315.80 214.02 538.45 364.39 934.56
  Total Expenditure 6,960.38 4,174.39 13,657.88 7,935.16 18,918.37
3. Profit from Operation before Other Income,Interest & Exceptional Items (1-2) 579.09 306.87 1,114.42 483.62 1,273.01
4. Other Income 256.85 18.74 732.31 75.43 615.59
5. Profit before Interest & Exceptional Items (3+4) 835.94 325.61 1,846.73 559.05 1,888.61
6. Interest Expense 16.45 15.18 23.98 26.73 72.43
7. Profit after Interest but before Exceptional Items (5-6) 819.49 310.43 1,822.74 532.32 1,816.18
8. Exceptional Items          
  Prior period items Net Income/(Net Expense) - (18.46) - (18.46) (33.88)
9. Profit (+)/Loss(-) from Ordinary Activities before tax (7+8) 819.49 291.97 1,822.74 513.86 1,782.29
10. Tax Expenses          
  - Current Tax 255.00 104.50 571.00 183.44 535.00
  - Deferred Tax (Asset)/Liability (1.60) (8.50) (3.71) (8.50) (15.47)
  - Fringe Benefit Tax 11.15 5.00 16.25 7.00 26.50
  - For Earlier Year - - - - 0.02
11. Net Profit (+)/Loss(-) from Ordinary Activities after tax (9-10) 554.95 190.97 1,239.21 331.92 1236.24
12. Extraordinary Item (net of tax expenses) - - - - -
13. Net Profit (+)/Loss(-) for the period (11-12) 554.95 190.97 1,239.21 331.92 1,236.24
14. Paid-up Equity Share Capital (Face value per share Rs.2) 1,175.06 874.25 1,175.06 874.25 1,140.09
15. Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year         44,523.49
 
16. Earning Per Share (EPS)          
  Basic and diluted EPS before & after extraordinary items. (not annualized)          
  - Basic 0.96 0.44 2.16 0.76 2.63
  - Diluted 0.94 0.42 2.13 0.73 2.57
17. Public Shareholding          
  - No. of Shares 31,945,710 19,459,760 31,945,710 19,459,760 32,251,582
  - Percentage of Shareholding 54.38% 44.52% 54.38% 44.52% 56.58%
STANDALONE SEGMENT REPORT
Rs. In Lacs
Sr.No. Particulars Quarter Ended Half Year Ended Year Ended
             
    30.09.2008 (Unaudited) 30.09.2007 (Unaudited) 30.09.2008 (Unaudited) 30.09.2007 (Unaudited) 31.03.2008
(Audited)
1. Segment Revenue
     
  Logistics 7,539.48 4,422.40 14,770.29 8,336.63 19,852.54
Free Trade Warehousing Zone - - - - -
Containerised Rail Transport Operations - - - - -
Others   58.86 2.00 82.15 338.84
Unallocated - - - - -
  TOTAL 7,539.48 4,481.26 14,772.29 8,418.78 20,191.38
 
2. Results          
  Profit Before Tax & Interest          
Logistics 1,067.77 470.25 1,944.70 797.18 1864.02
Free Trade Warehousing Zone - - - - -
Containerised Rail Transport Operations - - - - -
Others - 18.34 2.00 30.82 239.45
Unallocated (231.83) (184.59) (99.98) (290.55) (266.21)
  TOTAL 835.94 304.00 1,846.72 537.45 1,837.26
  Less:          
i.Interest 16.45 12.03 23.98 23.59 54.98
ii. Other unallocable expenditure - - - - -
Add:          
i.Other unallocable income - - - - -
  Profit Before Tax 819.49 291.97 1,822.74 513.86 1,782.28
 
3. Capital Employed          
  Logistics 4,895.32 2,642.16 4,884.61 2,642.16 2,866.89
Free Trade Warehousing Zone 33,377.07 5,326.78 33,377.07 5,326.78 14386.22
Containerised Rail Transport Operations - - - - 5000.00
Others (7.73) 81.41 (7.73) 81.41 114.48
Unallocated 11,974.78 2,215.42 11,974.78 2,215.42 24105.18
  TOTAL 50,239.44 10,265.77 50,239.44 10,265.77 46,472.77
CONSOLIDATED FINANCIAL RESULTS
Rs. In Lacs
Sr.No. Particulars Quarter Ended Half Year Ended Year Ended
    30.09.2008 (Unaudited) 30.09.2007 (Unaudited) 30.09.2008 (Unaudited) 30.09.2007 (Unaudited) 31.03.2008 (Audited)
1. (a) Net Sales / Income from Operations 14,646.45 8,960.76 28,731.36 16,790.17 40,116.26 ;
  (b) Other Operating Income - - - - -
  (c) Total Operating Income 14,646.45 8,960.76 28,731.36 16,790.17 40,116.26
2. EXPENDITURE          
  (a) Increase/ decrease in stock in trade and work in progress - - - - -
  (b) Consumption of raw materials - - - - -
  (c) Purchases (Trading) /Cost of Operations 11,321.43 7,029.02 22,123.22 13,356.71 31,209.61
  (d) Employee Cost 724.14 409.33 1,516.15 795.45 1,944.86
  (e) Depreciation 47.59 110.03 88.81 198.60 416.64
  (f) Other administrative Expenses 501.55 404.66 938.67 680.71 1,788.93
  Total Expenditure 12,594.71 7,953.04 24,666.84 15,031.47 35,360.04
3. Profit from Operation before Other Income,Interest & Exceptional Items (1-2) 2,051.74 1,007.72 4,064.52 1,758.70 4,756.22
4. Other Income 256.85 16.03 732.31 73.94 628.71
5. Profit before Interest & Exceptional Items (3+4) 2,308.59 1,023.75 4,796.83 1,832.64 5,384.93
6. Interest Expense 19.70 17.52 32.55 30.77 93.94
7. Profit after Interest before Minority Interest & Exceptional Items (5-6) 2,288.89 1,006.23 4,764.28 1,801.87 5,290.99
8. Minority Interest - Profit/Loss 1.19 (8.85) 5.79 (22.85) (17.67)
9. Exceptional Items          
  (a) Prior period items Net Income/Net Expense - (18.46) - (18.46) (33.88)
10. Profit(+)/Loss (-) from Ordinary Activities before tax and after Minority Interest (7-8+9) 2,287.70 996.62 4,758.48 1,806.26 5,274.78
11. Tax Expenses          
  - Current Tax 344.11 176.59 801.58 296.36 738.93
  - Deferred Tax (Asset)/Liability 12.71 (8.50) 10.60 (8.50) (29.69) )
  - Fringe Benefit Tax 11.65 5.72 17.10 7.72 28.00
  - For Earlier Year - -     0.02
12. Net Profit (+) /Loss (-) from Ordinary Activities after Tax (10-11) 1,919.23 822.81 3,929.20 1,510.68 4,537.52
13. Extraordinary Item (net of tax expenses) - - - - -
14. Net Profit (+) /Loss (-) for the period (12-13) 1,919.23 822.81 3,929.20 1,510.68 4,537.52
15. Paid-up Equity Share Capital (Face value per share Rs.2/-) 1,175.06 874.25 1,175.06 874.25 1,140.09
16. Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year         48,880.46
 
17. Earning Per Share (EPS)          
  Basic and diluted EPS before & after extraordinary items. (not annualized)          
  - Basic 3.32 1.88 6.85 3.46 9.66
  - Diluted 3.32 1.82 6.84 3.34 9.44
18. Public Shareholding          
  - No. of Shares 31,945,710 19,459,760 31,945,710 19,459,760 32,251,582
  - Percentage of Shareholding 54.38% 44.52% 54.38% 44.52% 56.58%
 
Notes to Unaudited Financial Results for the quarter/half year ended September 30, 2008 :-
1. The Standalone Un-audited Financial Results are given as per the requirements of Clause 41 of the listing agreement.
2. The Standalone Un-audited financial results for the quarter/half year ended September 30, 2008 have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on October 31, 2008. The unaudited Standalone financial results for the quarter will be subjected to limited review by the Statutory Auditors.
3. The Consolidated unaudited results are given as additional information and will not be subjected to limited review by Statutory Auditors.
4. The figures of financial results for the quarter ended June 30, 2008 have been adjusted in view of the observations made by the Statutory Auditors in limited review report resulting in increase in the Profit after tax by Rs.57.54 lacs.
5. The Company has alloted 17,48,500 fully paid up equity shares of Rs. 2 each on conversion of 3,49,700 warrants of Rs. 10 each during the quarter. Subsequent to the said allotment the paid up equity capital of the company stands increased to Rs.1,175.06 lacs.
6. The ongoing Containerised Rail Operation Project has been transferred to a Special Purpose Vehicle viz. Arshiya Rail Infrastructure Limited a wholly owned subsidiary of the Company. The total project expenditure incurred till the date of incorporation of Special Purpose Vehicle and Licence to operate Containerised Rail have been transferred to Arshiya Rail Infrastructure Limited at Cost.
7. Out of net proceeds of Rs.34,186.45 lacs received by the company on placement to QIB's and Rs. 1748.50 Lacs on conversion of warrants, Rs. 25,897.00 lacs has been utilised for payment of Capital advance and Capital expenditure for ongoing FTWZ Projects and Rs.10,004.00 lacs have been invested by subscribing to equity capital of wholly owned subsidiary viz. Arshiya Rail Infrastructure Ltd, a Special Purpose Vehicle for Containerised Rail Project.
8. Investor complaints for the quarter ended September 30, 2008 : Beginning- One; Received- Three; Disposed off - two; Pending- two.
9. The previous period/year figures have been regrouped /re-arranged, wherever necessary.
   
   
          For and On behalf of the Board of Directors     
Ajay S Mittal     
Chairman & Managing Director     
           
           
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