Quarterly Results
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Jai Corp Limited
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER / NINE MONTHS ENDED 31ST DECEMBER, 2013
(Rs. in Lacs except per share data)

  Particulars ( Rs. in Lacs except per share data)
  QUARTER ENDED NINE MONTHS ENDED YEAR ENDED
  31.12.2013 30.09.2013 31.12.2012 31.12.2013 31.12.2012 31.03.2013
  Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Income from Operations            
  a) Net Sales/Income from Operations (Net of Excise Duty) 17,689 17,124 13,868 49,796 47,095 63,266
  b) Other Operating Income 58 233 47 346 98 168
  Total income from operations (net) 17,747 17,357 13,915 50,142 47,193 63,434
2 Expenses            
  a) Cost of materials consumed 12,326 11,829 9,655 33,604 31,544 41,831
  b) Purchase of stock-in-trade 312 35 (1) 362 5 21
  c) Changes in inventories of finished goods,work-in-progress and stock-in-trade (514) (1,011) (804) (1,054) (940) (311)
  d) Employee benefits expenses 1,250 1,265 1,210 3,633 3,864 4,974
  e) Depreciation and amortisation expenses 456 459 447 1,370 1,355 1,802
  f) Other expenses 2,072 2,383 2,554 6,521 7,608 9,741
  Total expenses 15,902 14,960 13,061 44,436 43,436 58,058
3 Profit from operations before other income, finance costs and exceptional items (1-2) 1,845 2,397 854 5,706 3,757 5,376
4 Other income 752 1,157 836 3,279 4,328 5,546
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 2,597 3,554 1,690 8,985 8,085 10,922
6 Finance costs 1 2 6 6 51 53
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 2,596 3,552 1,684 8,979 8,034 10,869
8 Exceptional Items - - - - - -
9 Profit from ordinary activities before tax (7-8) 2,596 3,552 1,684 8,979 8,034 10,869
10 Tax expense (Net of Deferred Tax) 871 1,213 535 2,942 2,375 3,380
11 Net Profit from ordinary activities after tax (9-10) 1,725 2,339 1,149 6,037 5,659 7,489
12 Extraordinary items - - - - - -
13 Net Profit for the period (11-12) 1,725 2,339 1,149 6,037 5,659 7,489
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 - - - - - 2,05,158
16 Earning per Share (in Rs.) (Face value of Re.1/- each) (Basic & Diluted) (*Not annualised) 0.96* 1.31* 0.64* 3.38* 3.17* 4.20

PART II
  Particulars QUARTER ENDED NINE MONTHS ENDED YEAR ENDED
  31.12.2013 30.09.2013 31.12.2012 31.12.2013 31.12.2012 31.03.2013
A PARTICULARS OF SHAREHOLDING            
  Public shareholding            
  - Number of shares 4,82,11,610 4,82,11,610 4,82,11,610 4,82,11,610 4,82,11,610 4,82,11,610
  - 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

31.12.2013 		          
  Pending at the beginning of the quarter 0          
  Received during the quarter 46          
  Disposed off during the quarter 45          
  Remaining unresolved at the end of the quarter 1          

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 February 12, 2014 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, 3,75,000 fully paid 1% non-cumulative, non-participating redeembable 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. 1,000/- per share. The redemption premium of Rs. 5,096.25 Lacs was paid out of the Securities Premium Account and an amount equal to the nominal value of the Preference Shares redeemed was transfered from General Reserve to Capital Redemption Reserve Account.

  5. During the quarter, one of the wholly-owned subsidiary, Jai Corp Finance & Holding Limited initiated the process of members' voluntary winding up pursuant to provisions of the Companies Act, 1956 and a liquidator has been appointed. The company does not expect any loss on this account.

  6. Figures in respect of the previous period/ year have been reworked / regrouped / re-arranged wherever necessary to make them comparable.
Date :- 12th February, 2014
Place:- Mumbai		 For and on Behalf of the Board

Gaurav Jain
Managing Director

 

UNAUDITED STANDALONE SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER / NINE MONTHS ENDED
31ST DECEMBER, 2013
  DESCRIPTION (Rs. in Lacs)
  QUARTER ENDED NINE MONTHS ENDED YEAR ENDED
  31.12.2013 30.09.2013 31.12.2012 31.12.2013 31.12.2012 31.03.2013
  Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 SEGMENT REVENUE            
  Steel 2,280 917 956 3,947 2,606 3,098
  Plastic Processing 14,445 14,981 10,871 42,140 39,711 53,287
  Spinning 2,363 2,630 3,059 7,611 8,152 11,440
  Total Segment Revenue 19,088 18,528 14,886 53,698 50,469 67,825
  Less: Inter Segment Revenue 16 19 18 45 46 68
  Less: Excise duty recovered 1,325 1,152 953 3,511 3,230 4,323
  Total Revenue 17,747 17,357 13,915 50,142 47,193 63,434
               
2 SEGMENT RESULTS            
  Steel 50 110 32 200 74 (88)
  Plastic Processing 1,674 2,253 895 5,388 4,067 5,609
  Spinning 253 503 292 1,139 638 1,022
  Total Segment Results 1,977 2,866 1,219 6,727 4,779 6,543
  Less: Finance Cost 1 2 6 6 51 53
  Add: Other unallocable income net of 620 688 471 2,258 3,306 4,379
  unallocable expenditure            
  Total Profit before tax 2,596 3,552 1,684 8,979 8,034 10,869
               
3 CAPITAL EMPLOYED            
  Steel 3,764 3,093 1,872 3,764 1,872 1,827
  Plastic Processing 32,622 33,322 29,263 32,622 29,263 32,541
  Spinning 5,595 6,185 6,566 5,595 6,566 6,273
  Total Segment Capital Employed 41,981 42,600 37,701 41,981 37,701 40,641
  Add: Unallocable Corporate Assets less 1,65,981 1,68,738 1,67,769 1,65,981 1,67,769 1,66,385
  Corporate Liabilities            
  Total Capital Employed 2,07,962 2,11,338 2,05,470 2,07,962 2,05,470 2,07,026

Notes to Segment Information:

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 :- 12th February, 2014
Place:- Mumbai		 For and on Behalf of the Board

Gaurav Jain
Managing Director