E.I.D.- Parry ( India ) Ltd announce un-audited financial results for the quarter ended December31, 2006

25 January , 2007: The turnover of E.I.D. - Parry (India) Limited for the quarter ended 31st December, 2006 was Rs.160.74 crore as against previous year's Rs. 158.54 crore. The Profit after Tax for the current quarter was Rs.3.53 crore compared with Rs.4.15 crore for the previous year. The previous year figures in the published results include the results of erstwhile Parryware Division (Revenue Rs.64.50 crore and Profit before Interest and Tax Rs.8.31 crore) and profit on sale of investments of Rs.22.85 crore and hence not comparable with the current year results.

The consolidated turnover of E.I.D-Parry (India) Limited, its subsidiaries and joint ventures, for the quarter ended 31st December, 2006, stood at Rs.725.58 crore. The Profit after Tax for E.I.D-Parry (India) Limited, its subsidiaries, joint ventures, and associates, for the current quarter was Rs. 27.21 crore.

Nine month period ended 31 December 2006
The turnover for the nine months period ended 31st December, 2006 stood at Rs.506.33 crore as against previous year's Rs. 433.37crore. The Profit after Tax for the said period was Rs. 46.85 crore as against Rs.32.86 crore for the previous year After considering one time income of Rs.118.12 crore being profit on sale of investments and providing for tax thereon, the Profit after Tax for the nine month period is Rs.138.14 crore. The previous year figures in the published results include the results of erstwhile Parryware Division (Sales Rs.190.72crore and Profit before Interest and Tax Rs.24.99 crore) and hence not comparable with the current year results.

The consolidated turnover of E.I.D-Parry (India) Limited, its subsidiaries and joint ventures, for the nine months period ended 31st December, 2006, stood at Rs.2294.50 crore. The Profit after Tax for E.I.D-Parry (India) Limited, its subsidiaries, joint ventures, and associates, for the nine months period ended 31st December, 2006, was Rs. 204.14 crore.

The Consolidated financials for the period ended December 31, 2006 is not required to be published, but the same have been provided, for the first time, for shareholder information.

Divisional performance:

Sugar
Though the sales have increased by 4 per cent, due to the steep decline in the price of Sugar and export ban on sugar in July 2006 has resulted in the division recording a loss of Rs.0.61 crore for the quarter ended 31st December, 2006. The government though lifted the ban on sugar exports on 11th January 2007 with immediate effect it would be regulated through export release order.
The Cogeneration power project at Pugalur sugar factory is progressing well. Production has commenced in the Ariyoor Sugar Factory at Puducherry.

Bio-products
The Bio-products division showed sales growth of 2 per cent during the quarter and 7 per cent during the nine month period. Due to increased sales during the quarter, the loss for the nine month period has come down from Rs.2.25 crore to Rs. 0.54 crore.

Amalgamation
The Company will be shortly making an application to the High Court of Judicature at Madras for sanctioning the Scheme of Amalgamation of Parry Nutraceuticals Ltd. (PNL) a wholly owned unlisted subsidiary of the company with the Company.

About Us
E.I.D.- Parry (India) Limited is a member of Murugappa Group. Headquartered in Chennai, the $1.6 billion Murugappa Group is one of India's leading business conglomerates, which fosters an environment of professionalism for its strong workforce of 28,000 employees. The group has 29 registered companies which are market leaders in diverse areas on business viz. engineering, abrasives, finance, general insurance, sanitary ware, cycles, sugar, farm inputs, fertilizers, plantations, bio products and nutraceuticals. The Group has manufacturing units in 12 states.

The Group has forged strong joint venture alliances with leading international companies like Roca of Spain, Cargill of Geneva, Cerdak of South Africa, Jingri Diamond Industrial Company of China, DBS Bank of Singapore, Mitsui Sumitomo of Japan and Groupe Chimique Tunisien of Tunisia and has consolidated its status as one of the fastest growing diversified business house in India.