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

26 May 2006 10:37

Steel Authority Of India Ld26 May 2006 STEEL AUTHORITY OF INDIA LIMITED REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110003 Financial Results for the Quarter / Year ended 31st March, 2006 Rs in million Nine Months Quarter Year ended Consolidated ended ended Financial ResultsS.no Particulars (Unaudited) ( Audited ) ( Audited ) (Unaudited) (Audited) 31st 31st 31st 31st 31st 31st 31st December, March, March, March, March March, March, 2005 2006 2005 2006 2005 2006 2005 1 Sales/ Income from operations 229055.00 103152.80 105486.60 332207.80 325695.30 335045.80 345591.40 2 Less : Excise Duty 33458.70 10963.10 10963.70 44421.80 32821.60 44459.70 34567.60 195596.30 92189.70 94522.90 287786.00 292873.70 290586.10 311023.80 3 Interest Earned 3513.30 1101.60 901.80 4614.90 2627.60 4614.90 2558.50 4 Other Income 221.10 497.90 -85.90 719.00 244.70 789.80 246.20 Total Income 199330.70 93789.20 95338.80 293119.90 295746.00 295990.80 313828.50 5 Expenditure a) Increase(-)/Decrease in -26079.50 15746.50 4707.20 -10333.00 -2476.10 -10117.30 -3454.60 stock in trade b) Consumption of Raw 83253.10 30794.30 23870.20 114047.40 87379.50 112688.10 90757.80 Materials c) Staff cost 31301.50 10265.40 8950.60 41566.90 38116.10 41941.50 46038.50 d) Consumption of stores & 16972.20 6143.60 5204.70 23115.80 19000.60 23158.40 20348.80 spares e) Power & Fuel 18402.40 6495.00 5676.10 24897.40 21955.90 25843.70 24002.80 f) Other Expenditure 18431.00 7586.40 6253.90 26017.40 20796.50 27342.80 23092.70 Total Expenditure 142280.70 77031.20 54662.70 219311.90 184772.50 220857.20 200786.00 6 Profit before Depreciation , 57050.00 16758.00 40676.10 73808.00 110973.50 75133.60 113042.50 Interest & Tax 7 Interest 3538.40 1139.20 1574.40 4677.60 6050.50 4841.90 6361.60 8 Depreciation 9031.70 3041.30 2838.70 12073.00 11269.50 12571.30 12046.80 9 Profit before tax ( 6-7-8 ) 44479.90 12577.50 36263.00 57057.40 93653.50 57720.40 94634.10 10 Provision for Taxation - Current Tax 18030.70 1123.30 2927.70 19154.00 7480.60 19318.40 7656.20 - Fringe Benefit Tax 214.40 28.90 0.00 243.30 0.00 246.60 0.00 - Deferrred Tax -2862.90 409.20 6995.30 -2453.70 18443.10 -2440.70 18470.50 -Earlier year's adjustments 0.00 -15.90 -439.90 -15.90 -439.90 -15.70 -439.30 11 Net Profit 29097.70 11032.00 26779.90 40129.70 68169.70 40611.80 68946.70 12 Minority Interest 0.00 0.00 0.00 0.00 0.00 1.70 4.50 13 Net Profit/Loss(-) after 29097.70 11032.00 26779.90 40129.70 68169.70 40610.10 68942.20 Minority Interest 14 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 ) 15 Reserves (excluding 84710.10 61762.50 85748.30 53483.60 revaluation reserve ) & Surplus 16 Basic and Diluted Earnings 7.04 2.67 6.48 9.72 16.50 9.83 16.69 per share ( Rs. ) 17 Aggregate of non-promoters share holding - No. of shares 58,57,10,260 58,57,10,260 58,57,10,260 58,57,10,260 58,57,10,260 - - - Percentage of share holding 14.18 14.18 14.18 14.18 14.18 - - SEGMENT REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE - 41 OF THE LISTING AGREEMENT ( Rs. in million ) PARTICULARS Nine Months Ended Quarter Ended Year Ended 31st 31st March 31st March 31st March 31st March December 2006 2005 2006 2005 2005 ( Unaudited ) ( Audited ) ( Audited ) Segment Revenue - Bhilai Steel Plant 82709.20 33889.40 40012.80 116598.60 117297.80 - Durgapur Steel Plant 27325.40 11539.20 13055.30 38864.60 41897.10 - Rourkela Steel Plant 28893.60 18327.40 16043.00 47221.00 48210.60 - Bokaro Steel Plant 71805.10 30414.00 30785.40 102219.10 101583.80 - IISCO Steel Plant 9551.20 4813.60 0.00 14364.80 0.00 - Alloy Steel Plant 4956.10 1826.40 1848.70 6782.50 5769.00 - Salem Steel Plant 4966.90 2967.40 4409.10 7934.30 10400.30 - Visvesvaraya Iron & Steel Plant 4851.20 1816.30 1690.90 6667.50 5472.60 - Others 6028.10 945.40 1481.20 6973.50 5985.50Total Segment Revenue 241086.80 106539.10 109326.40 347625.90 336616.70Less : Inter-Segment Revenue 12031.80 3386.30 3839.80 15418.10 10921.40Net sales / Income from Operations 229055.00 103152.80 105486.60 332207.80 325695.30 Segment Results - Bhilai Steel Plant 22832.50 6384.50 17202.10 29217.00 42106.20 - Durgapur Steel Plant 2287.40 825.00 3377.00 3112.40 8612.90 - Rourkela Steel Plant 3446.80 2640.60 5280.70 6087.40 11961.10 - Bokaro Steel Plant 16640.90 5056.30 10752.00 21697.20 34386.10 - IISCO Steel Plant -126.80 -2295.30 0.00 -2422.10 0.00 - Alloy Steel Plant -135.80 437.30 104.20 301.50 -300.20 - Salem Steel Plant -293.70 -275.50 18.50 -569.20 154.10 - Visvesvaraya Iron & Steel Plant 239.70 59.80 156.20 299.50 -87.70 - Others 3127.30 884.00 946.70 4011.30 2871.50 48018.30 13716.70 37837.40 61735.00 99704.00 Less : Interest Expenses 3538.40 1139.20 1574.40 4677.60 6050.50 Total profit ( + ) / 44479.90 12577.50 36263.00 57057.40 93653.50 Loss ( - ) before Tax Capital Employed( Segment assets less segmentliabilities excluding Inter unit Balances ) - Bhilai Steel Plant 26726.80 24437.20 19784.70 24437.20 19784.70 - Durgapur Steel Plant 28696.20 28750.60 29809.80 28750.60 29809.80 - Rourkela Steel Plant 35811.70 32572.30 32369.90 32572.30 32369.90 - Bokaro Steel Plant 23616.40 22843.20 20139.60 22843.20 20139.60 - IISCO Steel Plant -3449.60 -2780.30 0.00 -2780.30 0.00 - Alloy Steel Plant 2217.40 2615.40 2467.70 2615.40 2467.70 - Salem Steel Plant 9758.00 7560.70 7365.60 7560.70 7365.60 - Visvesvaraya Iron & Steel Plant 3657.10 4077.80 3338.90 4077.80 3338.90 - Others 56925.80 63758.00 63931.30 63758.00 63931.30Total Capital Employed in the Company 183959.80 183834.90 179207.50 183834.90 179207.50 Note : Segments have been identified in line with the Accounting Standard on SegmentReporting ( AS-17 ) taking into account the Organisation and Managementstructure and also Internal Financial Reporting System though the Company primarily deals in Iron & Steel items. Segment Revenue,Results and CapitalEmployed include the respective amounts identifiable to each of the segments.Pursuant to merger, IISCO Steel Plant has been considered as a separate segmentin the current year On behalf of Board of Directors Place : New Delhi ( G.C Daga )Date : May 25, 2006 Director ( Finance ) Notes : i) The above results for the Quarter/Year ended 31st March 2006 weretaken on record at the Board of Directors meeting held on 25th May 2006. Theaudited accounts are subject to review by the Comptroller and Auditor General ofIndia under section 619(4) of the Companies Act, 1956. ii) Pursuant to the scheme of amalgamation under sections 391 to 394of the Companies Act, 1956, as approved by the Central Government vide its Orderdated 15th February 2006, effective from 16th February 2006 on filing the orderwith Registrars of Companies of Delhi and West Bengal, the Indian Iron & SteelCompany Limited (IISCO), an erstwhile wholly owned subsidiary company, has beenamalgamated with the Company, with effect from the appointed date i.e.1st April2005. In line with the scheme of amalgamation, accounting treatment has beengiven from the appointed date. Accordingly, the above results for the ninemonths ended 31st December, 2005, quarter and year ended 31st March, 2006 areinclusive of the financial results of IISCO for the respective periods. Theresults of the quarter and financial year ended 31st March, 2005, being prior tomerger of IISCO with the Company, are exclusive of financial results of IISCO.Therefore, the figures for the current year are not comparable with thecorresponding period of previous year. However, the consolidated financialresults for the year ended 31st March, 2005 includes results of IISCO, assubsidiary of the Company. iii) The Board of Directors have recommended a final dividend of 7.5% onpaid-up equity share capital, in addition to the interim dividend of 12.5%already paid, for the financial year 2005-06, thus taking the total dividend to20% on paid-up equity share capital, subject to approval of shareholders. iv) The following subsidiary, associate and joint venture companies havebeen considered for the purpose of preparing Consolidated Financial Results asper the following Accounting Standards: (a) Consolidated Financial Statements(AS-21), (b) Accounting for investments in Associates in Consolidated FinancialStatements (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. Bhilai ElectricSupply Company (Pvt) Ltd* (50) 3. Bokaro Power Supply Company (Pvt) Ltd** (50)4. Metaljunction Services Limited* (50) 5. SAIL- Bansal Service Centre Ltd. (40)** 6. Romelt-SAIL (India) Ltd.** (15) 7. North Bengal Dolomite Limited (50)**8. UEC-SAIL Information Technology Ltd**.(50) Associate : Almora Magnesite Ltd.** (20)(The joint venture, N.E. Steels & Galvanising Pvt. Limited, is yet to start itsoperations.) *Based on audited accounts for 2005-06** Based on unaudited accounts for 2005-06. (Figures in brackets indicate % share of ownership of the Company in theseentities) v) The information on Investor's complaints pursuant to Clause 41 of thelisting agreement for the quarter ended 31st March, 2006 is : Opening Balance Received during the Resolved during the Closing balance quarter quarter - 41 41 - vi) Figures for the previous periods/year have been regrouped, wherevernecessary. Pursuant to the amalgamation of IISCO with the Company, asexplained in note (ii) above, the figures for the current year are notcomparable with the previous year. On behalf of Board of Directors Place : New Delhi.Date : 25th May, 2006 (G. C. Daga) Director (Finance) This information is provided by RNS The company news service from the London Stock Exchange