| |
| QUARTERLY
RESULTS |
| SESA
GOA LIMITED
Regd. Office: Sesa Ghor, 20 EDC Complex, Patto,
Panjim, Goa-403001 |
|
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR
ENDED 30TH SEPTEMBER 2007
|
| Click
here to view the pdf version of
the results |
| (Rs in million)
|
|
Particulars
|
Quarter
Ended
|
Half
Year Ended
|
Year Ended Audited
|
|
30.09.07
|
30.09.06
|
30.09.07
|
30.09.06
|
31.03.07
|
|
1.
|
Sales
/ Income from Operations |
3311.151
|
2262.412
|
7852.987
|
6607.940
|
20238.306
|
|
aa
|
Less:
Ocean Freight |
-
|
-
|
-
|
36.762
|
187.124
|
|
aa
|
aa
|
3311.151
|
2262.412
|
7852.987
|
6571.178
|
20051.182
|
|
2.
|
Other
Income |
180.947
|
110.462
|
282.295
|
200.892
|
443.252
|
|
3.
|
Total
Expenditure |
|
a)
|
(Increase)
/ decrease in stock in trade |
(126.730)
|
(383.356)
|
(516.060)
|
(643.191)
|
58.443
|
|
b)
|
Consumption
of raw materials |
530.632
|
465.025
|
1062.907
|
793.020
|
1772.971
|
|
c)
|
Staff
cost |
120.867
|
111.813
|
293.868
|
286.620
|
525.874
|
|
d)
|
Consumption
of stores |
260.537
|
277.781
|
587.582
|
570.452
|
1215.960
|
|
e)
|
Contractors
for inland transportation & other services |
|
|
-
Inland transportation |
564.181
|
788.701
|
1407.823
|
1670.694
|
3470.863
|
|
|
-
Other services |
314.313
|
237.681
|
582.154
|
488.542
|
1170.931
|
|
f)
|
Purchase
of ore |
231.626
|
321.351
|
639.931
|
900.144
|
2059.973
|
|
g)
|
Export
duty |
211.635
|
-
|
726.055
|
-
|
334.925
|
|
h)
|
Other
expenditure |
171.078
|
154.926
|
366.437
|
344.977
|
848.610
|
|
4.
|
Interest |
0.044
|
0.219
|
0.133
|
2.596
|
3.299
|
|
5.
|
Depreciation |
89.537
|
76.352
|
180.199
|
139.726
|
312.787
|
|
6.
|
Less:Costs
/ Expenses recovered |
(35.350)
|
(31.642)
|
(119.006)
|
(114.108)
|
(278.665)
|
|
7.
|
Profit
/ (Loss) before tax (1+2-3-4-5-6) |
1159.728
|
354.023
|
2923.259
|
2332.598
|
8998.463
|
|
8.
|
Provision
for tax |
|
|
-
Current tax |
342.000
|
76.100
|
913.000
|
718.000
|
2877.000
|
|
|
-
Fringe Benefit tax |
2.400
|
1.300
|
3.300
|
2.200
|
5.400
|
|
|
-
Deffered tax |
(6.000)
|
20.000
|
(3.000)
|
21.000
|
52.000
|
|
9.
|
Profit
/ (Loss) after tax (7-8) |
821.328
|
256.623
|
2009.959
|
1591.398
|
6064.063
|
|
10.
|
Paid
up equity capital (Face value Rs.10) |
393.620
|
393.620
|
393.620
|
393.620
|
393.620
|
|
11.
|
Reserves
excluding revaluation reserves |
|
|
|
|
14669.993
|
|
12.
|
Earnings
/ share (Rs.) - Basic & Diluted |
20.87*
|
6.52*
|
51.06*
|
40.43*
|
154.06
|
|
*Not annualised
|
|
13.
|
Aggregate
of non-promoter shareholding |
|
aa
|
-
Number of shares |
19215745
|
19287196
|
19215745
|
19287196
|
19287196
|
|
aa
|
-
Percentage of shareholding |
48.82
|
49.00
|
48.82
|
49.00
|
49.00
|
|
|
|
| Segment
information for the Half year ended 30th September, 2007 |
|
Particulars
|
|
Unaudited
Half
Year Ended
|
|
|
30.09.07
|
30.09.06
|
30.09.07
|
30.09.06
|
31.03.07
|
| Segment
Revenues |
| Iron
ore |
2647.388
|
1765.842
|
6588.365
|
5624.188
|
17963.850
|
| Metallurgical
coke |
670.561
|
505.457
|
1278.627
|
957.409
|
2118.357
|
| Total |
3317.949
|
2271.299
|
7866.992
|
6581.597
|
20082.207
|
| Less:
Inter-segment revenues |
-
|
-
|
-
|
-
|
-
|
| Net
revenue from operations |
3317.949
|
2271.299
|
7866.992
|
6581.597
|
20082.207
|
| Add:
Interest,dividend & other unallocable income |
174.149
|
101.575
|
268.290
|
190.473
|
412.227
|
| Enterprise
Revenue |
3492.098
|
2372.874
|
8135.282
|
6772.070
|
20494.434
|
| Segment
Results - Profit / (Loss) before tax, interest, dividend and
other unallocable income |
| Iron
ore |
873.717
|
274.925
|
2531.463
|
2181.931
|
8694.679
|
| Metallurgical
coke |
111.906
|
(22.258)
|
123.639
|
(37.210)
|
(105.144)
|
| Total |
985.623
|
252.667
|
2655.102
|
2144.721
|
8589.535
|
| Less:
Interest expenses |
0.044
|
0.219
|
0.133
|
2.596
|
3.299
|
| Add:
Interest income |
0.120
|
20.838
|
0.474
|
39.615
|
42.679
|
| Add:
Dividend Income |
173.318
|
78.040
|
267.033
|
148.161
|
366.553
|
| Add:
Profit on sale of investment |
0.711
|
2.697
|
0.783
|
2.697
|
2.995
|
| Profit
before tax |
1159.728
|
354.023
|
2923.259
|
2332.598
|
8998.463
|
| Capital
employed |
| Iron
ore |
4667.552
|
4374.340
|
4667.552
|
4374.340
|
5386.597
|
| Metallurgical
coke |
2223.298
|
2493.132
|
2223.298
|
2493.132
|
2733.812
|
| Unallocated |
10700.721
|
6072.880
|
10700.721
|
6072.880
|
7464.204
|
| Total |
17591.571
|
12940.352
|
17591.571
|
12940.352
|
15584.613
|
|
| NOTES:
|
| 1 |
In
view of the seasonality of the business, financial results
for the six months of the year are not indicative of the full
year's performance of the company.
|
| 2. |
The
Company has filed a petition before the High Court of Bombay,
Goa for merger of its subsidiary Company Sesa Industries Limited
(SIL) with the Company with effect from 1.4.2005 subsequent
to the shareholders' consent obtained at the meeting convened
on 8 May 2006 under the direction of court. Pending receipt
of requisite approvals the above results have been compiled
on a stand alone basis without considering merger of SIL.
The interim and final dividend totalling to Rs. 40 and Rs.
40 per share for the years ended 31 March 2006 and 31 March
2007 respectively paid to the existing shareholders of the
Company would also be payable to the recipients of the Company
shares on approval of the merger of SIL with the Company out
of the appropriable profits of the merged Company for the
relevant years. The position of reserves as stated above is
before considering the appropriations for dividend on the
shares to be issued on merger.
|
|
3. |
The
increase in profit for the current period is primarily due
to the increase in prices partly offset by the incidence of
export duty and the appreciation of the rupee vis-a-vis the
US Dollar.
|
|
4. |
The
Profit after Tax figure of the subsidiary company on a stand
alone basis is as under:
| |
Rs.
in million
|
| |
Quarter
ended 30.09.07 (Unaudited)
|
Quarter
ended 30.09.06 (Unaudited)
|
Half
year ended 30.09.07 (Unaudited)
|
Half
year ended 30.09.06 (Unaudited)
|
Year
ended 31.03.07 (Audited)
|
| Sesa
Industries Limited (SIL) |
135.476
|
141.129
|
289.921
|
158.164
|
416.130
|
|
| 5. |
There
were no pending investor complaints at the beginning of the
quarter. During the quarter ended 30 September 2007, a total
number of 93 investor complaints were received and disposed
off. There were no pending investor complaints at the end
of the quarter.
|
| 6. |
Figures
for the previous periods have been regrouped / rearranged
as necessary to conform to the current period's classification. |
| 7. |
The
above results have been subjected to a "Limited Review"
by the Statutory Auditors, reviewed by the Audit Committee
and taken on record by the Board of Directors of the Company
at their meeting held on 30 October 2007.
|
| Place:
Mumbai |
PK
Mukherjee |
| Date:
30 October 2007 |
Managing
Director |
|
| Results
of the Previous Quarter: Quarter
Ended 30 June 2007 |
| |
| |
|
| |
|
