BILT 9M FY 2009 PAT at Rs. 1311 million

BILT 9M FY 2009 PBT at Rs. 1957 millionBILT 9M FY 2009 Revenues at Rs 21004 million BILT 9M FY 2009 Paper Revenues increase 11.76 % to Rs. 19417 million

Ballarpur Industries Limited (BILT) today announced its financial and operating results for 9M FY 2009 and Q3 FY 2009.

According to a statement issued by the Company:

*BILT follows a July 1 – June 30 fiscal year; therefore the current announcement covers the Company’s financial performance for the 9M and Third quarter of Fiscal 2009.

BILT (9M FY 2009 v/s 9M FY 2008)

· Paper Revenues increase 11.76% to Rs 19417 million compared with Rs 17374 million. Total Revenue at Rs. 21004 million compared with Rs 20375 million.

· PBIDT at Rs 4849 million vis-a-vis Rs 5372 million.

· PBT at Rs 1957 million vis-a-vis Rs 2785 million.

· PAT at Rs 1311 million vis-a-vis Rs. 2217 million.

· Fully Diluted EPS at Rs 2.08 compared with Rs. 3.51.

· Cash generation from operations (PAT + Depreciation + Deferred Tax Liability+ Amortisation) at Rs 3160 million compared with Rs. 4097 million.

BILT (Q3 FY 2009 v/s Q3 FY 2008)

· Consolidated Gross revenues (before Inter Segment Sale) for the quarter was Rs. 694.35 crores as against Rs. 723.51 crores for the corresponding quarter in the previous year.· Net sales (Post Intersegment Sales) for the quarter ended Mar 31, 2009 was Rs. 682.28 crores as against Rs.687.34 crores for the corresponding quarter in the previous year.

· The Consolidated EBIDTA for the quarter was Rs.135.76 crores as against Rs.183.26 crores in the corresponding previous quarter.

The EBIDTA for the domestic paper business increased to Rs.170.20 crores (30%) from Rs.130.70 crores (26%).

The operating performance for the quarter ended March 31, 2009 was impacted by the following:

a) Due to sluggish demand for paper in Malaysia and the maintenance shut coupled with stock liquidation the Sabah Forest Industries (SFI) operation’s ended up with the net loss for the quarter of Rs.41.29 crores. This is a one time non-recurring Loss. SFI has since commenced regular operations from March 23,2009.

b) Due to no off take for Rayon Grade Pulp. Unit Kamalapuram operations remained shut during the quarter. The net loss of unit Kamalapuram operations for the Quarter was 10.73 crores. Unit Kamalapuram is expected to resume operations in early May 2009.

Operating overview

· Total paper production of 438296 MT in 9M FY 2009 compared to 447578 MT in 9M FY 2008.

· Total paper production of 135854 MT in Q3 FY 2009 compared to 152048 MT in Q3 FY 2008.

· Total paper sales of 438162 MT in 9M FY 2009 compared with 440432 MT in 9M FY 2008.

· Total paper sales of 152986 MT in Q3 FY 2009 compared with 145566 MT in Q3 FY 2008.

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About Ballarpur Industries Limited

Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing paper. Subsidiaries include Sabah Forest Industries, Malaysia’s largest pulp and paper company, and BILT Tree Tech Limited (BTTL), which runs BILT’s farm forestry programme in India. Ranked among the global top 100, BILT has seven manufacturing units.

In India, BILT has a dominant share of the high-end coated paper segment, with over 50% of the coated wood-free paper market, 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market.

Some of BILT’s leading brands include Royal Executive Bond, BILT Matrix and BILT Ten on Ten.

About Avantha

The US$ 3 bn Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech Industries, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol, Sonomatra, MSE Power Systems and Puszta Konzerv Kft.

The Group has business interests in diverse areas including power transmission and distribution equipments and services, paper and pulp, energy and infrastructure, food processing, farm forestry, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.