Quarter Ended September 2009
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( Rs in Lacs )
  QTR ENDED HALF YEAR  ENDED ON   YEAR ENDED  
  30.09.09   30.09.08 30.09.09   30.09.08   31.03.2009  
     DESCRIPTION Reviewed   Reviewed Reviewed   Reviewed   Audited  
                   
1.  SALES /  INCOME  FROM  OPERATIONS     21,875.94       18,415.25     41,388.72          35,528.72           70,490.73  
     Less: EXCISE DUTY       1,733.58         2,226.61       3,311.38            4,363.62             7,903.57  
     Less: SERVICE TAX             0.24               0.20             0.34                  0.39                   0.50  
     Less: SALES TAX          719.83            585.70       1,439.67            1,229.22             2,374.57  
NET SALES /  INCOME  FROM  OPERATIONS     19,422.29       15,602.74     36,637.33          29,935.49           60,212.09  
                   
2.  OTHER  OPERATING INCOME           10.14               7.05           17.08                 37.52                  85.58  
      19,432.43       15,609.79     36,654.41          29,973.01           60,297.67  
3.  TOTAL  EXPENDITURE                  
     a) Increase ( - ) /Decrease(+) in stock in trade          212.24           (945.68)       1,151.57           (1,613.45)            (2,288.83)  
     b) Consumption of raw material       8,146.57         7,233.51     16,204.94          13,363.39           28,371.77  
     c) Purchase of Traded goods          232.73            276.39          523.46               314.56                600.06  
     d) Employee cost       1,989.28         1,584.96       3,816.00            3,334.91             6,875.53  
     e) Other expenditure       4,521.37         4,432.44       8,004.19            8,126.16           13,853.55  
      15,102.19       12,581.62     29,700.16          23,525.57           47,412.08  
                   
4.  PROFIT FROM OPERATIONS BEFORE OTHER INCOME, DEPRECIATION, INTEREST & EXCEPTIONAL ITEMS (1 + 2- 3)       4,330.24         3,028.17       6,954.25            6,447.44           12,885.59  
                   
5.  DEPRECIATION          954.62            952.58       1,805.18            1,939.49             3,770.53  
                   
6.  PROFIT FROM OPERATIONS BEFORE OTHER INCOME, INTEREST & EXCEPTIONAL ITEMS (4 - 5)       3,375.62         2,075.59       5,149.07            4,507.95             9,115.06  
                   
7. OTHER INCOME          207.67            328.99          576.51   947.52             1,525.21  
                   
8.  PROFIT BEFORE INTEREST & EXCEPTIONAL ITEMS ( 6 + 7)       3,583.29         2,404.58       5,725.58            5,455.47           10,640.27  
                   
9.  INTEREST          591.32            847.16       1,359.00            1,552.14             3,653.43  
                   
10.  PROFIT AFTER INTEREST BUT BEFORE  EXCEPTIONAL ITEMS (8 - 9)       2,991.97         1,557.42       4,366.58            3,903.33             6,986.84  
                   
11.   EXCEPTIONAL ITEM                  
                - INVESTMENT WRITTEN OFF                -                    -                  -                        -                  693.00  
                - PROVISION FOR DIMINUTION IN VALUE OF INVESTMENT                -              243.00                -                 243.00                677.32  
12.   PROFIT BEFORE TAX       2,991.97         1,314.42       4,366.58            3,660.33             5,616.52  
                   
13.  PROVISION  FOR  TAXATION                  
                     - CURRENT TAX       (1,130.00)           (639.50)      (1,505.00)           (1,510.50)  **           (2,128.71)  * 
                     - DEFERRED TAX CHARGE ( - ) / CREDIT ( + )          (25.72)            109.27         (132.84)               242.70  ***              (118.11)  
                     - FRINGE BENEFIT TAX            14.03            (14.78)             2.03                (33.53)                 (62.26)  
                   
14.  NET PROFIT        1,850.28 #          769.41       2,730.77            2,359.00             3,307.44  
                   
15.  PAID UP  EQUITY  SHARE  CAPITAL           80.00             80.00           80.00                 80.00                  80.00  
     ( Face value of each share Rs. 10 each )                  
                   
16.  RESERVE  EXCLUDING REVALUATION  RESERVE                -                    -                  -                        -             25,538.01  
                   
17.  BASIC AND DILUTED EPS FOR THE PERIOD (NOT ANNUALISED)          231.29             96.18          341.35               294.88                413.43  
                   
18.  AGGREGATE OF PUBLIC SHARE HOLDING                  
      Number of shares NIL   NIL NIL   NIL   NIL  
      % of shareholding                -                    -                  -                        -                         -    
                   
19.PROMOTERS AND PROMOTERS GROUP SHAREHOLDING                  
    a) Pledged / Encumbered                  
        - Number of Shares NIL                  -   NIL                      -     NIL  
        - Percentage of Shares ( as a % of the total shareholding of promoter                 -                    -                  -                        -                         -    
           and promoter group )                  
        - Percentage of Shares ( as a % of the total share capital of                 -                    -                  -                        -                         -    
           the  company )                  
                   
    a) Non  Encumbered                  
        - Number of Shares 800,000                  -   800,000                      -                800,000  
        - Percentage of Shares ( as a % of the total shareholding of promoter           100.00                  -            100.00                      -                  100.00  
           and promoter group )                  
        - Percentage of Shares ( as a % of the total share capital of           100.00                  -            100.00                      -                  100.00  
           the  company )                  
*Include Rs.15.29 Lacs net credit related to previous year                  
**Include Rs.64.50 Lacs related to previous year                  
*** Include credit of Rs.65.93 Lacs related to previous year                  
NATIONAL ENGINEERING INDUSTRIES LTD.           
REGD. OFFICE:  9/1 R. N. MUKHERJEE  ROAD. KOLKATA - 700001        
UNAUDITED FINANCIAL RESULTS ( PROVISIONAL ) FOR THE QUARTER  ENDED  SEPTEMBER 30, 2009    
           
           ( Rs in Lacs ) 
     QTR ENDED   HALF YEAR  ENDED ON   YEAR ENDED 
  SEGMENTWISE REVENUE,RESULTS   30.09.09   30.09.08   30.09.09   30.09.08   31.03.2009 
  AND CAPITAL EMPLOYED  Reviewed   Reviewed   Reviewed   Reviewed   Audited 
             
1. Segment Revenue          
  a) Bearing Division              17,889.09            14,788.79              34,644.93            28,219.00              57,064.75
  b) Others *                1,668.06                867.37                2,276.71              1,847.15                3,420.40
             
             
  Total Net Sales/Income from operations              19,557.15            15,656.16              36,921.64            30,066.15              60,485.15
             
  Less : Inter segment revenue                         -                         -                           -                         -                           -  
  Net sale/income from operations              19,557.15            15,656.16              36,921.64            30,066.15              60,485.15
             
2. Segment Results          
  ( from each segment)           
  a) Bearing Division                3,103.44              2,568.34                5,286.31              5,115.47                8,841.52
  b) Others *                  922.09                268.40                1,037.74                726.60                  987.26
             
             
  Segmentwise profit before interest & tax                4,025.53              2,836.74                6,324.05              5,842.07                9,828.78
             
  Less : i. Interest                  591.32                847.16                1,359.00              1,552.14                3,653.43
              ii. Other un-allocable expenditure          
               net off un-allocable income                  442.24                675.16                  598.47                629.60                  558.83
  Total Profit before Tax                2,991.97              1,314.42                4,366.58              3,660.33                5,616.52
             
3. Capital Employed          
  (Segment Assets-Segment Liabilities)          
  a) Bearing Division              48,873.28            50,948.94              48,873.28            50,948.94              55,431.50
  b) Others*                3,188.27              1,805.18                3,188.27              1,805.18                2,642.08
  c) Un-Allocated                8,584.08            12,217.91                8,584.08            12,217.91                8,922.74
  Total              60,645.63            64,972.03              60,645.63            64,972.03              66,996.32
             
* 'Others' includes technical services, agency services and manufacturing and marketing of rubbber products.           

Notes:
1. The Company has given a loan to an unlisted company whose accumulated losses exceed its paid up capital, of which a net amount of Rs. 1,310.01 lacs is outstanding as at September 30, 2009. However having regard to the long term and strategic involvement of the Company with this company, no provision is considered necessary on this account. This matter was also the subject matter of qualification in the report of auditors on the accounts for the year ended March 31,2009 and quarter ended June 30,2009.

2. The Company did not have any unresolved investor complaints as at the beginning/end of the quarter. During the quarter, the Company has not received any complaints.

3. Other Income for the half year ended September 30,2008 includes Rs. 312.66 lacs pertaining to profit on sale of investment in shares.

4. The Company has entered into an 'Advisory and Consultancy Agreement' with another Company on September 28, 2009 which is effective from January 1,
2009. Pursuant to the said agreement, the Company has accounted for an income of Rs. 607.75 lacs in respect of the period from January 1, 2009 to June
30, 2009 during the current quarter ended September 30,2009.

5. The promoters' group shareholding in the Company has become 100% with effect from May 26,2006 under the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations 2006. Consequently the Company had filed application dated June 19, 2006 for delisting with both The Delhi Stock Exchange Association Limited and Madhya Pradesh Stock Exchange, where the shares of the Company are listed. Madhya Pradesh Stock Exchange has approved delisting of such Shares during the quarter ended June 30,2007.

6. Pursuant to notification of the Companies ( Accounting Standards) Amendment Rules 2009 on March 31,2009, the Company has, in the financial results for the year ended March 31, 2009 and half year ended September 30,2009, exercised the option of deferring the charge to the Profit and Loss Account arising on exchange differences on long-term foreign currency monetary items. Exchange differences that relate to the acquisition of depreciable capital assets have been adjusted with the cost of such asset and are depreciated over the balance life of the asset. The financial results for the quarter and half year ended September 30,2008 do not incorporate the above change.

7. Figures have been regrouped / rearranged wherever necessary.

8. The above audited financial results have been reviewed by audit committee and taken on record by the Board of Directors of the Company at the meeting held on October 30,2009.


Place: New Delhi
By order of the Board
Date: 30.10.2009