Press Release

CONSOLIDATED RESULTS :

Nagarjuna Construction Company Limited, has achieved a turnover of Rs.5897 Crores (excluding other income) for the year ended 31st March 2010 as against turnover of Rs.4786 Crores in the Previous Year, registering a growth of 23% over the Previous Year. The Company posted an EBIDTA of Rs. 658.23 Crores and net profit after tax of Rs. 282.74 crores for the year as against Rs.504 Crores and Rs.181 Crores respectively in the Previous Year. The Company has reported an EPS of Rs.11.55 in the year ended 31st March, 2010 as against Rs.7.92 in the previous year.

NCCL STANDALONE :

The Company has reported a turnover of Rs.4778 Crores for the current fiscal as against Rs.4151 Crores in the previous year thereby registering a growth of 15% over the previous year. The Company has posted an EBIDTA of Rs. 483.45 Crores and a Net Profit of Rs. 191.76 Crores as against Rs.373.67 Crores and Rs.153.85 Crores respectively in the previous year. After considering capital gains earned on sale of investments, the net profit for the year ended 31st March, 2010 stood at Rs. 232.46 Crores.

The Company has achieved a Turnover of Rs.1523 Crores in the 4th quarter as against Rs.1098 Crores of corresponding quarter of the previous year. The operations of the Company have resulted in an EBIDTA of Rs.152.74 Crores and a net profit of Rs. 61.77 Crores (excluding other income earned on sale of investments) as against Rs. 83.77 Crores and Rs.38.28 Crores respectively in the corresponding quarter of the previous year and thereby registered a growth of 82% in EBIDTA and 61% in PAT.

The Company has reported a basic EPS of Rs.9.50 for the year 2009-10 on standalone basis as against Rs.6.72 in the previous year.

The order book of the Company stood at Rs.15370 Crores as on 31.03.2010.

The Board of Directors at their meeting held on 25.05.2010 have recommended an Equity Dividend of Rs.1.30 per Equity Share of Rs. 2/- face value (65%) on the Paid up Capital of Rs. 51.32 Crores subject to the approval of Shareholders at the Annual General Meeting.

As per the Business Plan for the Financial Year 2010-11 approved by the Board at its meeting held today, the Company has targeted to achieve a turnover of Rs. 7300 Crores on consolidated basis.

Place:Hyderabad
Date:25-05-2010 		For Nagarjuna Construction Company Limited
sd/-
A. Ranga Raju
Managing Director
 
 
   
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED
31st mARCH, 2010
(Rs. in Lakhs)
Sl.No.
Particulars
Quarter Ended Year Ended Consolidated
for the Year Ended
31-03-10 31-03-09 31-03-10 31-03-09 31-03-10 31-03-09
1. Net Income from Operations 152181.09 109585.24 477530.21 411993.73 576767.49 472412.00
  OtherOperating Income 90.21 219.76 251.99 3147.07 12963.61 6233.90
  Total Income 152271.30 109805.00 477782.20 415140.80 589731.10 478645.90
               
2. Expenditure            
  a) (Inc.) / Dec. in Stock-in-trade and work in progress 5417.10 2166.40 4075.00 (13782.50) (2832.30) (22337.10)
  b) Consumption of Raw materials 58862.60 30744.20 176621.70 144203.60 213537.00 162390.20
  c) Sub-contractors work bills 38409.80 43195.60 127136.80 140276.90 159927.30 158464.00
  d) Other Construction Expenses 14270.20 8832.40 48486.70 39793.80 59848.90 47571.80
  e) Labour 12584.10 10799.80 45010.90 39227.50 49879.70 42085.20
  f) Employee Cost 4717.40 4085.00 18412.90 18859.40 27495.30 25905.30
  g) Depreciation 1364.50 1226.50 5254.50 5330.20 9656.50 8228.90
  h) Other Expenditure 2737.00 1605.10 9693.60 9195.00 16047.60 14125.59
  Total 138362.70 102655.00 434692.10 383103.90 533560.00 436433.89
               
3. Profit from operations before Other Income, Interest & Exceptional Items (1-2) 13908.60 7150.00 43090.10 32036.90 56171.10 42212.01
4. Other Income 124.00 147.90 481.70 416.30 1706.30 1584.10
5. Profit before Interest & Exceptional Items (3+4) 14032.60 7297.90 43571.80 32453.20 57877.40 43796.11
6. Interest & Finance Cost (Net) 3481.40 2128.40 13224.20 9635.90 22113.80 17367.00
7. Profit after Interest but before Exceptional Items (5-6) 10551.20 5169.50 30347.60 22817.30 35763.60 26429.11
8. Exceptional Items 4956.00 - 4956.00 - 4956.00 -
9. Profit from Ordinary Activities before tax (7+8) 15507.20 5169.50 35303.60 22817.30 40719.60 26429.11
10. Tax Expense 5245.40 1348.60 12042.10 7431.40 12112.80 7926.54
11. Net Profit from Ordinary Activities after tax (9-10) 10261.80 3820.90 23261.50 15385.90 28606.80 18502.57
12. Extraordinary Items (Net of tax expense Rs.___ ) - - - - - -
13 Minority interest         270.30 (115.70)
14. Share of Profit from Associate Companies (Net ofTax)         (602.80) (252.80)
15. Net Profit for the Period 10261.80 3820.90 23261.50 15385.90 28274.30 18134.07
16. a) Paid up Equity Share Capital (Face value of Rs.2 per Share) 5131.70 4577.02 5131.70 4577.02 5131.70 4577.02
  b) Paid up Debt Capital     20000.00 10000.00    
17. a) Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year     219433.90 163978.10 225607.20 168016.87
  b) Debenture Redemption Reserve     3500.00 2500.00    
18. Earnings Per Share (EPS) (Rs.)            
  Basic and Diluted 4.00 1.67 9.50 6.72 11.55 7.93
19. a) Debt Equity Ratio     0.68 0.74    
  b) Debt Service Coverage Ratio*     2.93 1.87    
  c) Interest Coverage Ratio**     4.23 4.58    
20. Public Shareholding            
  a) Number of Shares 204734573 172918783 204734573 172918783 204734573 172918783
  b) Percentage of shareholding 79.79% 75.56% 79.79% 75.56% 79.79% 75.56%
21. Promoters and Promoter group Shareholding            
  a) Pledged / Encombered - No. of Shares 4470000 24900000 4470000 24900000 4470000 24900000
  Percentage of shares (as a % of the total share holding of promotor and promotor group) 8.63% 44.63% 8.63% 44.63% 8.36% 44.63%
  Percentage of shareholding (as a % of the total share capital of the company) 1.74% 10.88% 1.74% 10.88% 1.74% 10.88%
  b) Non / Encombered - No. of Shares 47336687 30888227 47336687 30888227 47336687 30888227
  Percentage of shares (as a % of the total share holding of promotor and promotor group) 91.37% 55.37% 91.37% 55.37% 91.37% 55.37%
  Percentage of shares (as a % of the total share capital of the company) 18.45% 13.50% 18.45% 13.50% 18.45% 13.50%


*DSCR   [Profit before interest, depreciation and exceptional items / (Interest + Principal repayments of long-term debt during                the year)]

**ICR   [Profit before interest, depreciation and exceptional items / Interest expense during the year]


Notes:

  1. The Board of Directors have recommended a Dividend of Rs. 1.30 per Equity share (65%) for the Year 2009-10.

  2. The Company's operations consist of Construction / Project activities and there are no other reportable segments under Accounting Standards 17.

  3. The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on: 25th May, 2010.

  4. The Consolidated Financial Results include results of all the Subsidiaries, Associates and Joint Ventures of Nagarjuna Construction Company Limited and are prepared in accordance with AS-21, AS-23 & AS-27. 

  5. Exceptional item for the quarter ended 31st March, 2010 represent gain arising on sale of investment in Gautami Power Limited. 

  6. There were no investor complaints pending at the beginning and at the end of the quarter. 18 complaints were received and resolved duing the quarter ended 31st March, 2010. 

  7. Figures have been regrouped to facilitate comparison wherever necessary.
By Order of the Board
for NAGARJUNA CONSTRUCTION COMPANY LIMITED
 


                              Sd/-
Place : Hyderabad
                         A. RANGA RAJU
Date : 25.05.2010
                     MANAGING DIRECTOR