Godawari Power & Ispat

Godawari Power & Ispat’s (GPIL) Standalone Top-line fell by a whopping 34.8% yoy to Rs171.8cr (Rs263.4cr) in 4QFY2009. This de-growth was on account of a 46% decline in the revenue from the steel division, and due to the production cut undertaken by the
company in its Steel Billets and Ferro Manganese segment (for the purpose of increasing the sales volume of the power division). However, the sales from Sponge Iron increased by a massive 235% yoy to Rs84.9cr (Rs25.4cr). For FY2009, the company’s standalone and Consolidated Top-line increased by 24.9% and 35.1%, respectively.

GPIL’s Standalone net profit stood at Rs9.7cr (Rs28.8cr), for the quarter, down 66.2%. This fall was primarily on account of the decline in the operating profit. The company’s FY2009 standalone and consolidated net profits declined by 39.6% and 37.7%, respectively.