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As Of Filer Filing For·On·As Docs:Size Issuer Agent 7/26/07 Sesa Sterlite Ltd 6-K 6/30/07 3:221K RR DONN… FundSuiteArc/FA |
Document/Exhibit Description Pages Size
1: 6-K Sterlite Industries (India) Limited HTML 18K
2: EX-99.1 EX-99.1 Earnings Release of Sterlite Industries HTML 23K
(India) Limited Dated July 25, 2007.
3: EX-99.2 EX-99.2 Unaudited Consolidated and HTML 118K
Unconsolidated/Standalone Financial
Statements Prepared Under Indian Gaap
for the Quarter Ended June 30, 2007.
| EX-99.2 Unaudited financial statements |
|
STERLITE INDUSTRIES (INDIA) LIMITED |  |
||
| Regd. Office: SIPCOT Industrial Complex, Madurai By Pass Road, TV Pooram P.O., Tuticorin. Tamilnadu-628002. |
| Q1 Highlights (Consolidated) |  |
|||||||||
TURNOVER |
Rs. 6139 Crore | |||||||||
EBIDTA |
Rs. 2506 Crore | |||||||||
PAT (attributable) |
Rs. 1143 Crore | |||||||||
EPS (not annualised) |
Rs. 19.93 | |||||||||
| per share (fully diluted) | ||||||||||
| UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED JUNE 30, 2007 | Rs in Crore except as stated | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated | Standalone | Standalone | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Corresponding | Corresponding | Corresponding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarter ended | quarter ended | Year ended | Quarter ended | quarter ended | Year ended | Quarter ended | quarter ended | Year ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| S. | 30.06.2007 | 30.06.2006 | 31.03.2007 | S. | 30.06.2007 | 30.06.2006 | 31.03.2007 | 30.06.2007 | 30.06.2006 | 31.03.2007 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| No. | Particulars | (Unaudited) | (Unaudited) | (Audited) | No. | Particulars | (Unaudited) | (Unaudited) | (Audited) | Segmental Information | (Unaudited) | (Unaudited) | (Audited) | ||||||||||||||||||||||||||||||||||||||||||||||||
1
|
Turnover | 6,680.06 | 5,001.87 | 26,193.03 | 1 | Turnover | 3,310.40 | 2,529.49 | 12,457.57 | 1. Segment Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||
Less: Excise Duty Recovered
|
540.92 | 398.92 | 1,806.22 | Less: Excise Duty Recovered
|
195.40 | 154.68 | 635.72 | a) Copper
|
3,218.50 | 2,217.01 | 11,904.08 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net Sales/Income from Operations
|
6,139.14 | 4,602.95 | 24,386.81 | Net Sales/Income from
Operations
|
3,115.00 | 2,374.81 | 11,821.85 | b) Aluminium
|
— | 251.16 | 251.16 | ||||||||||||||||||||||||||||||||||||||||||||||||||
2
|
Other Income | 350.09 | 135.51 | 681.71 | 2 | Other Income | 50.85 | 28.93 | 205.41 | c) Others
|
110.42 | 74.40 | 363.45 | ||||||||||||||||||||||||||||||||||||||||||||||||
3
|
Total Expenditure | 3,983.03 | 2,753.06 | 14,927.95 | 3 | Total Expenditure | 2,852.24 | 2,061.69 | 10,661.70 | Gross Sales | 3,328.92 | 2,542.57 | 12,518.69 | ||||||||||||||||||||||||||||||||||||||||||||||||
a. Variation in Stock
|
(404.08 | ) | (967.73 | ) | (383.43 | ) | a. Variation in Stock
|
(322.11 | ) | (593.45 | ) | (358.85 | ) | Less: Inter Segment Transfers | 18.52 | 13.08 | 61.12 | ||||||||||||||||||||||||||||||||||||||||||||
b. Purchases/Consumption of raw
materials#
|
3,192.99 | 2,532.51 | 10,840.21 | b. Purchases/Consumption of
raw materials#
|
3,025.32 | 2,451.20 | 10,332.53 | External Sales | 3,310.40 | 2,529.49 | 12,457.57 | ||||||||||||||||||||||||||||||||||||||||||||||||||
c. Staff Cost
|
147.88 | 124.85 | 549.49 | c. Staff Cost
|
16.24 | 14.62 | 57.44 | Less: Excise Duty Recovered | 195.40 | 154.68 | 635.72 | ||||||||||||||||||||||||||||||||||||||||||||||||||
d. Other expenses
|
1,046.24 | 1,063.43 | 3,921.68 | d. Other expenses
|
132.79 | 189.32 | 630.58 | Net Sales/Income from Operations | 3,115.00 | 2,374.81 | 11,821.85 | ||||||||||||||||||||||||||||||||||||||||||||||||||
4
|
Earnings Before Interest,Depreciation and Tax (EBIDTA) | 2,506.20 | 1,985.40 | 10,140.57 | 4 | Earnings Before Interest,Depreciation and Tax (EBIDTA) | 313.61 | 342.05 | 1,365.56 | 2) Segment Results | |||||||||||||||||||||||||||||||||||||||||||||||||||
5
|
Interest | 95.46 | 89.83 | 379.07 | 5 | Interest | 37.70 | 40.54 | 182.66 | (Profit before tax & interest) |
|||||||||||||||||||||||||||||||||||||||||||||||||||
6
|
Cash Profit ( PBDT ) | 2,410.74 | 1,895.57 | 9,761.50 | 6 | Cash Profit ( PBDT ) | 275.91 | 301.51 | 1,182.90 | a) Copper
|
200.94 | 272.97 | 1056.13 | ||||||||||||||||||||||||||||||||||||||||||||||||
7
|
Depreciation and Amortisation | 203.13 | 183.39 | 803.86 | 7 | Depreciation and Amortisation | 34.22 | 33.17 | 133.20 | b) Aluminium
|
— | 15.50 | 15.50 | ||||||||||||||||||||||||||||||||||||||||||||||||
8
|
Profit Before Tax and Exceptional Items | 2,207.61 | 1,712.18 | 8,957.64 | 8 | Profit Before Tax and Exceptional Items | 241.69 | 268.34 | 1,049.70 | c) Others
|
36.75 | (0.33 | ) | 7.72 | |||||||||||||||||||||||||||||||||||||||||||||||
9
|
Exceptional Items | — | 12.23 | 157.21 | 9 | Exceptional Items | — | — | 137.40 | Other unallocable income/expenses (net) |
41.70 | 20.74 | 153.01 | ||||||||||||||||||||||||||||||||||||||||||||||||
10
|
Profit Before Tax | 2,207.61 | 1,699.95 | 8,800.43 | 10 | Profit Before Tax | 241.69 | 268.34 | 912.30 | Total | 279.39 | 308.88 | 1,232.36 | ||||||||||||||||||||||||||||||||||||||||||||||||
11
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Provision For -Current taxation | 506.07 | 451.93 | 2,323.83 | 11 | Provision For -Current taxation | 39.80 | 47.98 | 135.40 | Less : Interest paid | 37.70 | 40.54 | 182.66 | ||||||||||||||||||||||||||||||||||||||||||||||||
-Deferred Taxation
|
18.08 | 38.69 | 167.48 | -Deferred Taxation
|
0.24 | (3.33 | ) | (8.15 | ) | Profit before tax & Exceptional items | 241.69 | 268.34 | 1,049.70 | ||||||||||||||||||||||||||||||||||||||||||||||||
-Fringe benefit tax
|
0.57 | 0.72 | 3.65 | -Fringe benefit tax
|
0.19 | 0.20 | 1.02 | Less: Exceptional items | — | — | 137.40 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mat Credit Entitlement
|
— | (12.30 | ) | (83.19 | ) | 12 | Net Profit after Tax & exceptional items |
201.46 | 223.49 | 784.03 | Profit before Tax | 241.69 | 268.34 | 912.30 | |||||||||||||||||||||||||||||||||||||||||||||||
12
|
Net Profit after Tax & exceptional items | 1,682.89 | 1,220.91 | 6,388.66 | 13 | Paid-up equity share capital (Face value of Rs. 2 each) | 141.70 | 111.70 | 111.70 | 3) Capital Employed | |||||||||||||||||||||||||||||||||||||||||||||||||||
13
|
Minority Interest | 539.98 | 341.91 | 2,002.30 | 14 | Reserves excluding revaluation reserves (As per Balance Sheet) of Previous Year | 4,346.23 | (Segment Assets less Segmental Liabilities) |
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14
|
Share in the Profit/(Loss) of Associates | — | — | (0.13 | ) | 15 | Earning Per Share (Rs.) (Not annualised)* | a) Copper
|
3687.19 | 3599.25 | 3898.46 | ||||||||||||||||||||||||||||||||||||||||||||||||||
15
|
Net Profit after tax attributable to Consolidated Group | 1,142.91 | 879.00 | 4,386.23 | -Before Exceptional Items
|
b) Aluminium
|
— | 401.25 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
16
|
Paid-up equity share capital (Face value of Rs. 2 each) | 141.70 | 111.70 | 111.70 | Basic
|
3.51 * | 4.00 * | 16.50 | c) Others
|
229.99 | 298.62 | 259.74 | |||||||||||||||||||||||||||||||||||||||||||||||||
17
|
Reserves excluding revaluation reserves | 9,869.81 | Diluted
|
3.51 * | 4.00 * | 16.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
18
|
Earning Per Share (Rs) (Not Annualised)* |
-After Exceptional Items |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-Before Exceptional Items
|
Basic
|
3.51 * | 4.00 * | 14.04 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic
|
19.93 * | 15.87 * | 81.23 | Diluted
|
3.51 * | 4.00 * | 14.04 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diluted
|
19.93 * | 15.87 * | 81.23 | # Net of exchange difference — Rs. 217.14 Cr in Q1 2007, Rs. 81.71 Cr in Q1 2006 & Rs. 40.88 Cr in FY 2006-07 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-After Exceptional Items |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic
|
19.93 * | 15.73 * | 78.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diluted
|
19.93 * | 15.73 * | 78.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
# Net of exchange difference
— Rs. 217.14 Cr in Q1 2007,
Rs. 81.71 Cr in Q1 2006 &
Rs. 40.88 Cr in FY 2006-07
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes:- | Notes:- | ||||||||||
1
|
The above results have been reviewed by Audit Committee. The Board of Directors at its meeting held on July 25, 2007 approved the above results and its release. | 1 | The above results have been reviewed by Audit Committee. The Board of Directors at its meeting held on July 25, 2007 approved the above results and its release. | ||||||||
2
|
Investment in equity shares of power company has been considered as an intangible asset. This has resulted in an additional amortisation charge of Rs. 1.17 Crore for the quarter ended June 30, 2007 (corresponding prior quarter, Rs. 1.17 Crore) | 2 | During the quarter, the Company has issued 15,00,00,000 American Depository Shares (ADS) at US$13.44 per share, representing 15,00,00,000 underlying equity shares of Rs. 2/- each. As a result, the Issued, Subscribed & Paid up Equity Share Capital of the Company has increased by Rs. 30 crore and Security Premium by Rs 8,016.57 crore after adjusting ADS issue expenses (net of recoveries). Pending utilisation for the stated purpose, the ADS proceeds has been invested temporarily in bank deposits and mutual funds out of India. | ||||||||
3
|
The Company has determined its liability relating to royalty on the basis of the decision of the Rajasthan High Court delivered in July 2007. Consequently the excess of such liabilities provided for earlier years aggregating to Rs. 130.48 Crore has been written back and included in other income. | 3 | Pursuant to the adoption of Accounting Standards as prescribed by Companies (Accounting Standards) Rules, 2006 issued by Ministry of Corporate Affairs vide notification no. G.S.R. 739 (E) dated December 7, 2006, as required by Accounting Standard – 11 on “The Effect of Changes in Foreign Exchange Rates”, the Company has recognized net gain arising on account of foreign exchange difference amounting to Rs. 4.48 crore in the Profit and Loss Account relating to acquisition of fixed assets. Had there been no change, the same would have been adjusted against the carrying amount of fixed assets. Consequently, profit before tax is higher to that extent. | ||||||||
4
|
Consolidated Financial Statements have been prepared in accordance with Accounting Standard 21 - “Consolidated Financial Statements” issued by Institute of Chartered Accountants of India. | 4 | Out of the total right issue proceeds of Rs. 1972.30 crore received in past, so far the Company has utilised Rs. 1472.19 crore. Pending utilisation of the balance proceeds, the same have been temporarily invested in short term money market instruments. | ||||||||
5
|
Previous Period/Year figures have been regrouped / recasted wherever necessary. | 5 | In terms of clause 41 of the Listing agreement, details of number of investor complaints for the quarter ended June 30, 2007: Beginning 2, Received 8, disposed off 9, pending 1, being attended. | ||||||||
| 6 | The Financial Results are in accordance with the standard accounting practices followed by the Company in preparation of its statutory accounts and have been subjected to “Limited Review” by the Auditors of the company. | ||||||||||
| 7 | “Others” business segment comprises of Phosphoric Acids & Aluminium Foils. | ||||||||||
| 8 | Previous Period/Year figures have been regrouped / recasted wherever necessary. On account of sale of Power Transmission Line Division with effect from July 1,2006, figures for current period/s are not strictly comparable to figures for the previous period/year. | ||||||||||
| By order of the Board | |||||||||||
| sd/- | |||||||||||
| Place: Mumbai | Anil Agarwal | ||||||||||
| Dated : July 25, 2007 | Chairman | ||||||||||
| This ‘6-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 7/26/07 | None on these Dates | ||
| 7/25/07 | ||||
| For Period End: | 6/30/07 | |||
| 12/7/06 | ||||
| List all Filings | ||||
