This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Sterlite Industries (India) Limited Unaudited Consolidated Results For The Third Quarter And Nine Months Ended 31 December 2012

Sterlite Industries (India) Limited (“Sterlite” or the “Company”) today announced its results for the Third Quarter (Q3) and Nine Months ended 31 December 2012.

Q3 Highlights

Financials

  • Attributable PAT and Earnings per share up 30% at Rs. 1,191 Crore and Rs. 3.5 per share, respectively
  • Strong balance sheet with cash and liquid investments of Rs. 23,472 crore

Operations

  • Mined metal production up 11% and integrated silver production up 8% at Zinc India
  • Next phase of mining growth to 1.2 mtpa of zinc-lead capacity announced at Zinc India
  • Strong operational performance at Aluminium smelters, producing above rated capacity
  • Vizag Coal Berth obtained provisional Commercial Operations Declaration (COD) and expected to commence operations in the current quarter

Mr. Anil Agarwal, Chairman, Sterlite Industries (India) Ltd. : “Sterlite Industries continues to maintain its strong performance and leadership position. We have substantially improved our efficiencies, operational performance and metal production across businesses. Zinc India is poised for the next phase of growth as we embark on a major exploration drive using best in class technology and global expertise.”

 

Consolidated Financial Performance

 
    Q3   Q2   Nine months period
Particulars (In Rs. Crore, except as stated)   FY2013   FY2012  

% change YoY

  FY2013   FY2013   FY2012  

% change YoY

Net Sales/Income from operations   10,692     10,249     4 %   11,029     32,313     30,210     7 %
EBITDA   2,375     2,363     1 %   2,538     7,252     7,672     (5 %)
Interest expense   227     200     -     178     646     602     -  
Forex (loss)/gain   (63 )   (300 )   -     219     (61 )   (489 )   -  
Profit before Depreciation and Taxes   2,896     2,616     11 %   3,416     9,110     8,766     4 %
Depreciation   538     461     -     522     1,578     1,327     -  
Profit before Exceptional items   2,358     2,155     -     2,894     7,531     7,439     -  
Exceptional Items   -     6     -     -     -     41     -  
Taxes   356     505     -     511     1,200     1,624     -  
Profit After Taxes   2,003     1,643     22 %   2,383     6,331     5,775     10 %
Minority Interest   585     466     -     579     1,742     1,611     -  
Share in Profit/(Loss) of Associate   (226 )   (264 )   -     (61 )   (453 )   (612 )   -  
Attributable PAT after exceptional item   1,191     914     30 %   1,743     4,136     3,551     16 %
Basic Earnings per Share (Rs./share)   3.5     2.7     -     5.2     12.3     10.6     -  
Underlying Earnings per Share*(Rs./share)   3.7     3.6     -     4.7     12.4     12.1     -  
Exchange rate (Rs./$) – Average   54.1     51.0     -     55.2     54.5     47.2     -  
Exchange rate (Rs./$) – Closing   54.8     53.3     -     52.7     54.8     53.3     -  

*Before forex and exceptional items

Q3 EBITDA was in line with the corresponding prior quarter at Rs. 2,375 crore, reflecting improved operational efficiencies, marginally higher metal prices and premiums and improved sales realization due to INR depreciation, which were partially offset by lower by-product realizations. Q3 FY2013 EBITDA was lower compared to Q2 FY2013, impacted by lower power sales and lower by-product credits.

1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs