Stl.au.ind.gdr Regulatory News (SAUD)

29 May 2007 07:01

Steel Authority Of India Ld29 May 2007 STEEL AUTHORITY OF INDIA LIMITED REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110003 Audited Financial Results for the Quarter / Year ended on 31st March 2007 Rs / Millions Nine Months ended Quarter Year ended Consolidated ended Financial ResultsSl. Particulars ( Reviewed ) ( Audited ) ( Audited ) ( Unaudited )(Audited )No 31st December 31st March 31st March 31st March 31st March 31st March,31st March, 2006 2007 2006 2007 2006 2007 2006 1 Gross sales/ Income from 283565.70 119351.80 103072.30 402917.50 331779.70 406292.00 334669.20 operations Less : Excise Duty 37154.40 15501.00 13276.10 52655.40 44194.10 52863.10 44269.40 2 Net sales / Income from 246411.30 103850.80 89796.20 350262.10 287585.60 353428.90 290399.80 operations 3 Interest Earned 5375.60 2150.40 1022.30 7526.00 4614.90 7526.00 4614.90 4 Other Income 628.60 237.50 734.60 866.10 1189.60 987.10 1305.40 5 Total Income ( 2+3+4 ) 252415.50 106238.70 91553.10 358654.20 293390.10 361942.00 296320.10 6 Expenditure a) Increase(-)/Decrease in -7401.00 4935.80 13977.50 -2465.20 -10106.50 -2200.00 -9890.70 stock-in-trade b) Consumption of Raw 90875.60 31745.50 30794.20 122621.10 114047.40 120783.70 112688.10 Materials c) Staff cost 34560.40 16313.80 10265.40 50874.20 41566.90 51327.40 41941.30 d) Consumption of stores & 19279.10 6775.80 6143.60 26054.90 23115.80 26089.70 23158.40 spares e) Power & Fuel 19232.70 6555.70 6575.00 25788.40 24939.90 27018.00 25886.20 f) Other Expenditure 18829.90 7288.60 7118.70 26118.50 26018.60 28078.10 27337.70 Total Expenditure (a to f) 175376.70 73615.20 74874.40 248991.90 219582.10 251096.90 221121.00 7 Profit before Depreciation , 77038.80 32623.50 16678.70 109662.30 73808.00 110845.10 75199.10 Interest & Tax ( 5-6 ) 8 Interest 2766.50 554.80 1059.90 3321.30 4677.60 3443.60 4841.90 9 Depreciation 9292.80 2822.00 3041.30 12114.80 12073.00 12382.40 12570.80 10 Profit before tax ( 7-8-9 ) 64979.50 29246.70 12577.50 94226.20 57057.40 95019.10 57786.40 11 Provision for Taxation (a) Current Tax 22939.60 10051.60 1123.30 32991.20 19154.00 33239.50 19318.40 (b) Fringe 183.00 81.80 28.90 264.80 243.30 267.60 246.60 Benefit Tax (c) Deferrred -838.70 120.70 409.20 -718.00 -2453.70 -771.40 -2440.70 Tax Liability / Assets ( - ) (d) Earlier -308.50 -26.20 -15.90 -334.70 -15.90 -332.10 -15.60 years 21975.40 10227.90 1545.50 32203.30 16927.70 32403.60 17108.70 Sub-Total ( a to d ) 12 Net Profit after Tax(10-11) 43004.10 19018.80 11032.00 62022.90 40129.70 62615.50 40677.70 13 Minority Interest 1.20 1.70 14 Net Profit after Minority 43004.10 19018.80 11032.00 62022.90 40129.70 62614.30 40676.00 Interest ( 12-13 ) 15 Paid up Equity Share Capital 41304.00 41304.00 41304.00 41304.00 41304.00 41304.00 41304.00 ( Face value : Rs. 10 per share ) 16 Reserves (excluding 131827.50 84710.10 131827.50 84710.10 133422.00 85805.30 revaluation reserve ) & Surplus 17 Earnings per share - Basic 10.41 4.60 2.67 15.02 9.72 15.16 9.85 and Diluted ( Not Annualised ) ( Rupees ) 18 Aggregate of public share holding - Number of 58,41,17,725 58,41,63,425 58,40,48,325 58,41,63,425 58,40,48,325 shares - Percentage of 14.14 14.15 14.14 14.15 14.14 share holding Notes: i) The above results for the Quarter/Year ended 31st March 2007 were taken on record at the Board of Directors meeting held on 21st May 2007. The audited accounts are subject to review by the Comptroller and Auditor General of India under section 619(4) of the Companies Act, 1956. ii) The provision for income-tax for the current quarter is not comparable with the corresponding quarter of the previous year due to the benefit of brought forwards losses and unabsorbed depreciation of erstwhile wholly owned subsidiary company, Indian Iron & Steel Company Limited, merged with the Company during the corresponding quarter of previous year. iii) The Board of Directors have recommended a final dividend of 15% on paid-up equity share capital, in addition to the interim dividend of 16% already paid, for the financial year 2006-07, thus taking the total dividend to 31% on paid-up equity share capital, subject to approval of shareholders. iv) The following subsidiary, associate and joint venture companies have been considered for the purpose of preparing Consolidated Financial Results as per the following Accounting Standards: (a) Consolidated Financial Statements (AS-21), (b) Accounting for investments in Associates in Consolidated Financial Statements (AS-23), (c) Financial Reporting of interests in Joint Ventures (AS-27): Subsidiary : Maharashtra Elektrosmelt Ltd.* (99.12) Joint Ventures : 1. NTPC-SAIL Power Company (Pvt) Ltd* (50) 2. Bokaro Power Supply Company (Pvt) Ltd** (50) 3. Mjunction Services Limited* (50) 4. UEC-SAIL Information Technology Ltd** (40) 5. North Bengal Dolomite Limited (50)** 6. SAIL-Bansal Service Centre Ltd. (40)** 7. N.E. Steels & Galvanising Pvt. Limited ** (49). Associate : Almora Magnesite Ltd.* (20) * Based on audited accounts for 2006-07 ** Based on unaudited accounts for 2006-07. The accounts of JV company, namely, Romelt-SAIL (India) Ltd (15) are not available, as such have not been considered in the consolidated financial results, proportionate share in SAIL's turnover is insignificant. (Figures in brackets indicate % share of ownership of the Company in these entities) v) The information on Investor's complaints pursuant to Clause 41 of the listing agreement for the quarter ended 31st March, 2007 is : Opening Balance Received Resolved Closing during the during the balance quarter quarter 1 24 24 1 vi) Figures for the previous periods/year have been regrouped, wherever necessary. SEGMENT REVENUE, RESULTS AND CAPITAL EMPLOYEDUNDER CLAUSE - 41 OF THE LISTING AGREEMENT (Rs. in Quarter Millions)PARTICULARS Nine Months Ended Year Ended Ended 31st 31st March 31st March 31st March 31st March December 2007 2006 2007 2006 2006 (Audited) (Audited) (Reviewed) Segment Revenue (Gross sales / Income forOperations) - Bhilai Steel Plant 102360.60 39262.20 33853.20 141622.80 116526.60 - Durgapur Steel Plant 30919.70 14703.40 11544.20 45623.10 38861.30 - Rourkela Steel Plant 46030.40 18971.60 18358.00 65002.00 47249.70 - Bokaro Steel Plant 82286.90 34757.10 30401.00 117044.00 102177.80 - IISCO Steel Plant 10758.80 5579.40 5131.80 16338.20 14024.60 - Alloy Steel Plant 5860.90 1958.00 1837.90 7818.90 6782.50 - Salem Steel Plant 9224.10 3921.50 2967.40 13145.60 7934.30 - Visvesvaraya Iron & Steel Plant 5135.60 2450.80 1816.30 7586.40 6667.50 - Others 6381.40 2969.50 986.50 9350.90 6973.50Total Segment Revenue 298958.40 124573.50 106896.30 423531.90 347197.80Less : Inter-Segment Revenue 15392.70 5221.70 3824.00 20614.40 15418.10Gross sales / Income from Operations 283565.70 119351.80 103072.30 402917.50 331779.70 Segment Results - Bhilai Steel Plant 31326.20 11536.20 6384.50 42862.40 29217.00 - Durgapur Steel Plant 4284.40 2107.90 825.00 6392.30 3112.40 - Rourkela Steel Plant 10015.90 3676.10 2640.60 13692.00 6087.40 - Bokaro Steel Plant 18994.60 8716.70 5056.30 27711.30 21697.20 - IISCO Steel Plant -1460.10 -993.60 -2295.30 -2453.70 -2422.10 - Alloy Steel Plant 161.10 66.20 437.30 227.30 301.50 - Salem Steel Plant 757.90 477.60 -275.50 1235.50 -569.20 - Visvesvaraya Iron & Steel Plant -206.60 -91.40 59.80 -298.00 299.50 - Others 3872.60 4305.80 804.70 8178.40 4011.30 67746.00 29801.50 13637.40 97547.50 61735.00 Less : Interest Expenses 2766.50 554.80 1059.90 3321.30 4677.60 Total Profit ( + ) / Loss 64979.50 29246.70 12577.50 94226.20 57057.40( - ) before tax Capital Employed( Segment assets less segment liabilitiesexcluding Inter unit Balances ) - Bhilai Steel Plant 24748.30 24421.20 24437.20 24421.20 24437.20 - Durgapur Steel Plant 28930.90 27438.70 28750.60 27438.70 28750.60 - Rourkela Steel Plant 33190.60 31256.90 32572.30 31256.90 32572.30 - Bokaro Steel Plant 20236.10 21604.50 22843.20 21604.50 22843.20 - IISCO Steel Plant -1648.70 -2373.80 -2780.30 -2373.80 -2780.30 - Alloy Steel Plant 2943.70 4573.50 2615.40 4573.50 2615.40 - Salem Steel Plant 5782.30 6052.90 7560.70 6052.90 7560.70 - Visvesvaraya Iron & Steel Plant 4308.30 4449.00 4077.80 4449.00 4077.80 - Others 96157.60 111640.40 63758.00 111640.40 63758.00Total Capital Employed in the Company 214649.10 229063.30 183834.90 229063.30 183834.90 Note : Segments have been identified in line with the Accounting Standard on Segment Reporting ( AS-17 ) taking intoaccount the Organisation and Management structure and also Internal Financial Reporting System though theCompany primarily deals in Iron & Steel items. Segment Revenue,Results and Capital Employed include therespective amounts identifiable to each of the segments. On behalf of Board of Directors Sd/-Place : New Delhi ( Soiles Bhattacharya )Date : May 21, 2007 Director Finance This information is provided by RNS The company news service from the London Stock Exchange