Quarterly Results
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Jai Corp Limited
STATEMENT OF UNAUDITED RESULTS
FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER, 2012
(Rs. In Lacs, Except as stated)

  Particulars ( Rs. in Lacs except per share data)
  QUARTER ENDED SIX MONTHS ENDED YEAR ENDED
  30.09.2012 30.06.2012 30.09.2011 30.09.2012 30.09.2011 31.03.2012
  Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Income from Operations            
  a) Net Sales/Income from Operations (Net of Excise Duty) 16,753 16,474 14,932 33,227 28,403 61,709
  b) Other Operating Income 37 14 25 51 37 82
  Total income from operations (net) 16,790 16,488 14,957 33,278 28,440 61,791
2 Expenses            
  a) Cost of materials consumed 11,289 10,600 10,093 21,889 19,266 39,206
  b) Purchase of stock-in-trade 5 1 8 6 9 2,506
  c) Changes in inventories of finished goods,work-in-progress and stock-in-trade (199) 63 229 (136) (114) 234
  d) Employee benefits expenses 1,322 1,332 1,284 2,654 2,416 5,032
  e) Depreciation and amortisation expenses 476 432 437 908 868 1,730
  f) Other expenses 2,587 2,467 2,099 5,054 3,795 9,206
  Total expenses 15,480 14,895 14,150 30,375 26,240 57,914
3 Profit from operations before other income, finance costs and exceptional items (1-2) 1,310 1,593 807 2,903 2,200 3,877
4 Other income 1,743 1,749 3,171 3,492 5,478 10,157
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 3,053 3,342 3,978 6,395 7,678 14,034
6 Finance costs 13 32 19 45 39 75
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 3,040 3,310 3,959 6,350 7,639 13,959
8 Exceptional Items - - - - - -
9 Profit from ordinary activities before tax (7-8) 3,040 3,310 3,959 6,350 7,639 13,959
10 Tax expense (Net of Deferred Tax) 897 943 994 1,840 2,007 4,066
11 Net Profit from ordinary activities after tax (9-10) 2,143 2,367 2,965 4,510 5,632 9,893
12 Extraordinary items - - - - - -
13 Net Profit for the period (11-12) 2,143 2,367 2,965 4,510 5,632 9,893
14 Paid-up Equity Share Capital face value of Re. 1/- each 1,785 1,785 1,785 1,785 1,785 1,785
15 Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year - - - - - 2,19,123
16 Earning per Share (in Rs.) (Face value of Re.1/- each) (Basic & Diluted) (*Not annualised) 1.20* 1.33* 1.66* 2.53* 3.16* 5.54

PART II
  Particulars QUARTER ENDED SIX MONTHS ENDED YEAR ENDED
  30.09.2012 30.06.2012 30.09.2011 30.09.2012 30.09.2011 31.03.2012
A PARTICULARS OF SHAREHOLDING            
  Public shareholding            
  - Number of shares 48,211,610 48,211,610 48,211,610 48,211,610 48,211,610 48,211,610
  - Percentage of shareholding 27.01% 27.01% 27.01% 27.01% 27.01% 27.01% 
  Promoters and Promoter Group Shareholding            
  a) Pledged/Encumbered            
  - Number of shares - - - - - -
  - Percentage of shares (as a % of total
shareholding of promoters and
promoter group)		 - - - - - -
  - Percentage of shares (as a % of total
share capital of the company)		 - - - - - -
  b) Non-Encumbered            
  - Number of shares 130,282,400 130,282,400 130,282,400 130,282,400 130,282,400 130,282,400
  - Percentage of shares (as a % of total
shareholding of promoters and
promoter group)		 100% 100% 100% 100% 100% 100%
  - Percentage of shares (as a % of total
share capital of the company)		 72.99% 72.99% 72.99% 72.99% 72.99% 72.99%
B INVESTOR COMPLAINTS

QUARTER ENDED

30.09.2012 		          
  Pending at the beginning of the quarter 4          
  Received during the quarter 46          
  Disposed off during the quarter 47          
  Remaining unresolved at the end of the quarter 3          

Notes to the financial results:-

  1. The above results were reviewed by the Audit Committee, taken on record by the Board at its meeting held on 9th November, 2012 and approved the same for its release.

  2. The Financial Results are in accordance with the recognition and measurement principles laid down in Accounting Standard (AS) 25 "Interim Financial Reporting" as notified in the Companies (Accounting Standards) Rules, 2006.

  3. The Statutory Auditor of the Company has carried out a Limited Review of the above results in terms of Clause 41 of the Listing Agreement.

  4. During the quarter 16,50,000 fully paid 1% non-cumulative, non-participating redeemable preference shares ('Preference Shares') of face value Re. 1/- each were redeemed at a premium of 6% p.a. from the date of allotment on issue price of Rs. 1000/- per share. The redemption premium of Rs. 21,181.25 lacs was paid out of the Securities Premium Account and an amount equal to the nominal value of the Preference Shares redeemed was transferred from General Reserve to Capital Redemption Reserve Account.

  5. On 11th October,2012, there was a major fire at one of the Company's HDPE/PP Woven Sacks unit, located at Daman. There was no human casualty. Fixed assets and inventories of that unit have been substantially damaged. All the assets and inventories are adequately insured. The insurance survey is under process. The other units of the Company are operating normally.

  6. Figures in respect of the previous periods / year have been reworked / regrouped / re-arranged, wherever necessary, to make them comparable.


  7. STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH SEPTEMBER, 2012
Particulars (Rs. in Lacs)
As At 30th September, 2012 As At 31st March, 2012
Unaudited Audited
I. EQUITY AND LIABILITIES    
1 Shareholders' Funds    
(a) Share Capital 1, 868 1,885
(b) Reserve and Surplus 2,02,452 2,19,123
  2,04,320 2,04,320
2 Non-current Liabilities      
Long-term Borrowings 1,092 994
Deferred Tax Liability (Net) 2,030 2041
  3,122 3,035
3 Current Liabilities      
Short-term Borrowings 41   52  
Trade Payables 1,207 2,851
Other Current Liabilities 3,302 3,182
Short-term Provisions 245 645
  4,795 6,730
TOTAL 2,12,237 2,30,773
     
II ASSETS  
1 Non-Current Assets    
Fixed Assets 21,682 22,350
Non-Current Investments 1,01,495 1,01,697
Long-term Loans and Advances 38,692 38,292
Other Non Current Assets 719 559
  162,588 162,898
2 Current Assets    
Current Investments 8,678 27,402
Inventories 7,251 7,022
Trade Receivables 10,484 10,851
Cash and Bank Balances 805 851
Short-term Loans and Advances 21,256 21,032
Other Current Assets 1,175 717
  49,649 67,875
TOTAL 2,12,237 2,30,773
Date :- 9th November, 2012
Place:- Mumbai		 For and on Behalf of the Board

Gaurav Jain
Managing Director

8. Figures in respect of the previous period/ year have been reworked / regrouped / re-arranged wherever necessary to make them comparable.

Unaudited Segment Wise Revenue, Results and Capital for the quater and half year ended
30th September, 2011
  DESCRIPTION (Rs. in Lacs)
  QUARTER ENDED SIX MONTHS ENDED YEAR ENDED
  30.09.2012 30.06.2012 30.09.2011 30.09.2012 30.09.2011 31.03.2012
  Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 SEGMENT REVENUE            
  Steel 797 853 653 1,650 1,226 5,181
  Plastic Processing 14,322 14,518 12,243 28,840 23,640 50,365
  Spinning 2,799 2,294 2,899 5,093 5,157 9,883
  Total Segment Revenue 17,918 17,665 15,795 35,583 30,023 65,429
  Less: Inter Segment Revenue 17 11 17 28 23 47
  Less: Excise duty recovered 1,111 1,166 821 2,277 1,560 3,591
  Total Revenue 16,790 16,488 14,957 33,278 28,440 61,791
               
2 SEGMENT RESULTS            
  Steel 5 37 2 42 13 119
  Plastic Processing 1,192 1,980 1,531 3,172 3,039 5,739
  Spinning 221 125 (137) 346 72 118
  Total Segment Results 1,418 2,142 1,396 3,560 3,124 5,976
  Less: Finance Cost 13 32 19 45 39 75
  Add: Other unallocable income net of 1,635 1,200 2,582 2,835 4,554 8,058
  unallocable expenditure            
  Total Profit before tax 3,040 3,310 3,959 6,350 7,639 13,959
               
3 CAPITAL EMPLOYED            
  Steel 1,462 1,263 1,210 1,462 1,210 930
  Plastic Processing 29,185 29,242 28,243 29,185 28,243 28,900
  Spinning 6,215 5,769 6,750 6,215 6,750 6,233
  Total Segment Capital Employed 36,862 36,274 36,203 36,862 36,203 36,063
  Add: Unallocable Corporate Assets less 1,67,458 1,87,101 2,42,813 1,67,458 2,42,813 1,84,945
  Corporate Liabilities            
  Total Capital Employed 2,04,320 2,23,375 2,79,016 2,04,320 2,79,016 2,21,008

Notes to Segment Information:

1. As per Accounting Standard (AS)-17 on "Segment Reporting", as notified in Companies (Accounting Standards) Rules, 2006, the Company has reported "Segment Information" , as described below:-

a. The Steel Segment includes production, processing and trading of CR Coils/Sheets, GP/GC Coils/Sheets and HR Coils / Plates.

b. The Plastic Processing Segment includes production of Woven Sacks/Fabric, Jumbo Bags, HDPE Twine, Master Batch, Staple Fibres and Geotextiles..

c. The Spinning Segment includes production of Spun Yarn.

d. Capital Employed on other Investments/Assets and Income from the same are considered under "Un-allocable".

e. Figures in respect of the previous periods/ year have been reworked / regrouped / re-arranged wherever necessary to make them comparable.


Date :- 09th November, 2012
Place:- Mumbai		 For and on Behalf of the Board

Gaurav Jain
Managing Director