This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: SLT

The Jharsuguda-I smelter operated above its rated capacity. Aluminium production was 21% higher in Q3 as compared with the corresponding prior period on account of full capacity utilization and higher operational efficiencies.

Q3 Aluminium CoP was stable in rupee terms due to better operational efficiencies, lower power consumption and lower coal cost despite increased cost of alumina. VAL achieved the best quarterly operational efficiency, and CoP remained in the lower half of the global cost curve.

Q3 EBITDA was significantly higher than the corresponding prior quarter, on account of higher production and higher metal premiums. EBITDA margin also improved due to higher conversion of primary metal into value added products. 46% of primary metal was converted to value added products in Q3 compared to 40% last year.

PAT during the quarter improved due to higher EBITDA and lower mark to market loss on foreign currency borrowings as compared to the corresponding prior quarter.


Status of Investment in Vedanta Aluminium Limited as at 31 December 2012

Investment in VAL (Rs. Crore)   Sterlite   Vedanta   External   Total
Equity   563   1,391   -  


Preference Shares   3,000   -   -   3,000
Quasi Equity / Debt   8,140   853   18,210   27203
Total Funding   11,703   2,244   18,210   32,157
Corporate Guarantees   6,538   23,271   -   29,809

Power Business

    Q3   Q2   Nine months period
Particulars (in million units)   FY2013   FY2012  

% change YoY

  FY2013   FY2013   FY2012  

% change YoY

Total Power Sales   1,916   1,997   (4%)   2,474   6,848   5,412   27%
SEL 1   1,578   1,559   1%   1,940   5,457   3,964   38%
Balco 270MW Power Sales   275   382   (28%)   346   959   1,192   (20%)
HZL Wind Power   62   56   12%   188   432   256   69%
Financials (in Rs. crore except as stated)                            
Revenue 2   520   574   (9%)   885   2,267   1,775   28%
EBITDA   155   147   5%   300   784   447   75%
PAT   (28)   35   (180%)   113   168   108   55%
Average Power CoP (Rs./unit)   2.29   2.47   (7%)   2.22   2.16   2.50   (14%)
Average Power Realization (Rs./unit)   3.35   3.44   (3%)   3.45   3.42   3.60   (5%)
SEL CoP (Rs./unit)   2.22   2.64   (16%)   2.31   2.23   2.78   (20%)
SEL realization (Rs./unit)   3.31   3.49   (5%)   3.42   3.43   3.70   (7%)
      1.   Includes production under trial run of 456 million units in Q3 FY2013 vs. 428 million units in Q3 FY2012, and 795 million units in nine months period FY2013 vs. 717 million units in nine months period FY2012.
2. Includes intercompany sale of Rs. 4 crore in nine months period FY2012.

Power sales were at 1,916 million units in Q3, 4% lower than last year. During the quarter, PLF was 31%, considering three commissioned units of the 2,400MW Jharsuguda power plant, constrained by continued evacuation limitations that were imposed after the Northern and Eastern region grid failure in August 2012.

8 of 10

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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