Liberty Phosphate Ltd.

Liberty Phosphate Ltd.TMFinancialsPeriod Ended (` Crs.) FY '10 FY '11 June '11 Sept. '11 Dec. '11 March '12 FY '12Net Sales 210.11 365.14 105.37 110.39 108.56 149.57 487.75(Inc.)/Dec. in stock & WIP -56.48 34.88 12.51 6.16 -14.71 -0.59 6.94Raw Materials 159.76 177.22 49.56 59 67.71 89.61 253.53Purchase of Traded Goods 42.76 18.44 3.81 1.19 8.75 2.57 15.55Employee Cost 8.02 12.39 3.24 3.84 4.12 4.11 16.08Selling & Dist. Exp. 23.8 37.31 11.35 14.4 9.27 22.16 60.45Other Exp. 17.05 23.35 6.29 7.03 6.32 7.23 41.41Total Expenditure 194.91 303.59 86.76 91.62 81.46 125.09 393.96EBITDA 15.2 61.55 18.61 18.77 27.1 24.48 93.79EBITDA Margin (%) 7.2 16.9 17.7 17.0 25.0 16.4 19.2Depreciation 2.28 2.81 0.85 0.47 0.68 0.93 2.9Interest 4.78 6.97 3.06 1.84 3.01 2.27 8.88Taxation 3.64 19.24 4.75 5.13 6.04 8.03 26.49Other Income 0 0.06 0.03 0 1.89 1.92Non Recurring items 0.93 -0.38Forex Loss/(Gain) 0 -2.45 0 0.7 4.79 -1.75 3.52Net Profit 4.5 33.52 9.95 11.36 17.37 15.14 57.06Net Profit Margin (%) 2.1 9.2 9.4 10.3 16.0 10.1 11.7Equity Capital (FV ` 10/-) 14.44 14.44 14.44 14.44 14.44 14.44 14.44Equity Shares (in Crs.) 1.4 1.4 1.4 1.4 1.4 1.4 1.4Reserves 40.98 72.28 122.65EPS (`) 3.12 23.21 6.89 7.87 12.03 10.48 39.52Book Value (`) 38.4 60.1 94.9ROE (%) 8.1 38.7 41.6Note:1. Profits are calculated without considering prior period adjustments & forex gain/loss.2.Dept. of Fertilisers issued two circulars in July & Oct. ‘11 with regard to recognition of subsidy income on opening inventories as on 1/4/11/. Industry playersbased on legal opinion have not considered the impact, which if considered, would reduce sales & net profit of FY ‘12 by ` 10.56 Crs. & ` 7.14 Crs. respectively.Liberty Phosphate Ltd. is also available on www.balance-equity.co.in