Annexure XIV Continued… - Edelweiss

Total ............................................................................................. 5,579.17 9,336.89 67.35%
(1) We sold our sponge iron business on April 9, 2011.
Our total income increased by ` 3,757.72 million, or 67.35%, to ` 9,336.89 million in Fiscal 2009 from `
5,579.17 million in Fiscal 2008, primarily as a result of increased sales of coal purchased in e-auction and the
full year effect of the increased beneficiation capacity resulting from the commencement of operations at our
Gevra beneficiation plant in March 2008, which had a capacity of 2.50 million tons per annum as of February
2008 and 5.0 million tons per annum as of May 2008.
Coal beneficiation and allied receipts
Coal beneficiation and allied receipts income increased by ` 703.21 million, or 30.26%, to ` 3,027.43 million
in Fiscal 2009 from ` 2,324.22 million in Fiscal 2008, primarily due to the commencement of operations at our
Gevra beneficiation plant in March 2008. More specifically, our Gevra beneficiation plant processed 4.46
million tons of beneficiated coal in Fiscal 2009 compared to 0.13 million tons in Fiscal 2008. In addition, we
were awarded a contract for the processing of coal for Maharashtra State Electricity Generation Company
Limited in November 2008 for a total quantity of 3.15 million tons for two years, which contributed to an
increase in coal beneficiation and allied receipts during Fiscal 2009. Coal beneficiation and allied receipts
income represented 41.66% and 32.42% of our total income in Fiscal 2008 and Fiscal 2009, respectively.
Sale of Coal
Sale of coal income increased by ` 2,839.84 million, or 146.34%, to ` 4,780.38 million in Fiscal 2009 from `
1,940.54 million in Fiscal 2008, primarily due to an increase in the sale of coal rejects during Fiscal 2009 of `
2,123.03 million compared to Fiscal 2008 and an increase in the sale of beneficiated coal (after processing raw
coal purchased in e-auction) and the sale of raw coal during Fiscal 2009 of ` 709.35 million compared to
Fiscal 2008. The increase in the sale of coal was primarily due to the increased availability of coal rejects as a
result of an increase in the quantity of raw coal beneficiated at our coal beneficiation plants and the purchase
and resale of additional quantities of e-auction coal. Sale of coal income represented 34.78% and 51.20% of
our total income in Fiscal 2008 and Fiscal 2009, respectively.
Sale of Power
Sale of power income increased by ` 65.97 million, or 11.58%, to ` 635.77 million in Fiscal 2009 from `
569.80 million in Fiscal 2008, primarily due to an increase in revenue of ` 86.38 million as a result of an
increased Plant Load Factor at our 30 MW Chakabura Power Plant. This increase was offset in part by a
decline in revenue at our 15 MW Sangli Wind Power Project of ` 20.42 million. Sale of power income
represented 10.21% and 6.81% of our total income in Fiscal 2008 and Fiscal 2009, respectively.
Sale of Sponge Iron
Sale of sponge iron income decreased by ` 106.17 million, or 19.47%, to ` 439.17 million in Fiscal 2009 from
` 545.34 million in Fiscal 2008, primarily due to decrease in quantity sold, offset in part by an increase in the
average price per ton. Sale of sponge iron income represented 9.77% and 4.70% of our total income in Fiscal
2008 and Fiscal 2009, respectively. We sold our sponge iron business on April 9, 2011.
Sale of Equipment
Sale of equipment income increased by ` 29.40 million, or 119.12%, to ` 54.08 million in Fiscal 2009 from `
24.68 million in Fiscal 2008, primarily due to an increase in sale of equipment to Spectrum Coal. Sale of
equipment income represented 0.44% and 0.58% of our total income in Fiscal 2008 and Fiscal 2009,
respectively.
Other income
Other income increased by ` 225.47 million, or 129.14%, to ` 400.06 million in Fiscal 2009 from ` 174.59
million in Fiscal 2008, primarily due to maturity proceeds in Fiscal 2009 of ` 150.05 million on key man
insurance policies taken on our Directors. In addition, interest income increased by ` 61.75 million during
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