| Unaudited Financial Results For The Quarter Ended 30th JUNE,2011. |
| |
|
1 |
2 |
3 |
| |
|
Rs. in Crore |
Rs. in Crore |
Rs. in Crore |
| Sr. No. |
Particulars |
3 months ended 30/06/2011 |
Corresponding 3 months ended in the previous year 30/06/2010 |
Year ended 31st March, 2011 |
| |
|
|
|
Audited |
| 1 |
Gross Sales/ Income from Operations |
731.92 |
571.70 |
2,601.92 |
| |
Less : Inter Segment Transfers |
179.57 |
160.93 |
709.10 |
| |
Inter Division Transfers |
44.54 |
39.72 |
150.39 |
| |
Excise Duty |
36.20 |
28.59 |
131.07 |
| |
(a) Net Sales/ Income from Operations |
471.61 |
342.46 |
1,611.36 |
| |
(b) Other Operating Income |
7.56 |
3.82 |
24.39 |
| |
|
|
|
|
| |
Total Income (a+b) |
479.17 |
346.28 |
1,635.75 |
| |
|
|
|
|
| 2 |
Expenditure |
|
|
|
| |
(a) (Increase) / Decrease in Stock-in-trade and |
(34.65) |
(40.91) |
(55.25) |
| |
Work in progress |
|
|
|
| |
(b) Consumption of Raw Materials |
262.92 |
183.55 |
792.28 |
| |
(c) Direct Expenditure : |
|
|
|
| |
(i) Energy |
83.39 |
63.52 |
280.98 |
| |
(ii)Other Direct Expenditure |
66.32 |
60.20 |
242.72 |
| |
(d) Employees Costs |
26.83 |
22.26 |
94.69 |
| |
(e) Depreciation & Amortisation |
20.24 |
17.60 |
85.54 |
| |
(f) Other Expenditure |
4.94 |
3.66 |
16.66 |
| |
(g)Total ( a to f ) |
429.99 |
309.88 |
1,457.62 |
| |
|
|
|
|
| 3 |
Profit from Operations before Other Income , Interest and |
49.18 |
36.40 |
178.13 |
| |
Finance Charges (1-2) |
|
|
|
| 4 |
Other Income |
5.49 |
4.69 |
14.17 |
| 5 |
Profit before Interest and Finance Charges ( 3+4) |
54.67 |
41.09 |
192.30 |
| 6 |
Interest and Finance Charges |
26.60 |
19.28 |
90.56 |
| |
|
|
|
|
| 7 |
Profit after Interest and Finance Charges but before |
28.07 |
21.81 |
101.74 |
| |
Foreign Exchange (Gain)/ Loss and tax (5-6) |
|
|
|
| 8 |
Foreign Exchange (Gain) / Loss |
2.11 |
3.40 |
5.72 |
| 9 |
Profit from Ordinary Activities before tax (7- 8) |
25.96 |
18.41 |
96.02 |
| 10 |
Tax expenses - Current Tax |
0.01 |
- |
0.05 |
|
- Deferred Tax |
7.39 |
- |
20.61 |
| |
|
|
|
|
| 11 |
Net Profit from Ordinary Activities after tax (9-10) |
18.56 |
18.41 |
75.36 |
| |
|
|
|
|
| 12 |
Paid-up Equity Share Capital (Face Value of Rs.5/- per share) |
73.25 |
73.25 |
73.25 |
| 13 |
Reserves excluding Revaluation Reserves as per Balance Sheet of |
- |
- |
545.45 |
| |
previous accounting year. |
|
|
|
| 14 |
Earnings per share |
|
|
|
| |
Basic Earnings per share of Rs.5/- each (Rs) ( not annualised) |
1.27 |
1.26 |
5.14 |
| 15 |
Public Shareholding |
|
|
|
| |
Number of Shares |
70844124 |
71328845 |
70927320 |
| |
Percentage of Shareholding |
48.36% |
48.69% |
48.41% |
| |
|
|
|
|
| 16 |
Promoters and promoter group shareholding |
|
|
|
| |
(a) Pledged / Encumbered |
|
|
|
| |
Number of Shares |
NIL |
775000 |
375000 |
| |
Percentage of Shares ( as a % of the total |
NIL |
1.03% |
0.50% |
| |
shareholding of promoter and Promoter group ) |
|
|
|
| |
Percentage of Shares ( as a % of the total |
NIL |
0.53% |
0.26% |
| |
share capital of the company ) |
|
|
|
| |
(b) Non - Encumbered |
|
|
|
| |
Number of Shares |
75657259 |
74397538 |
75199063 |
| |
Percentage of Shares ( as a % of the total |
100.00% |
98.97% |
99.50% |
| |
shareholding of promoter and Promoter group ) |
|
|
|
| |
Percentage of Shares ( as a % of the total |
51.64% |
50.78% |
51.33% |
| |
share capital of the company ) |
|
|
|
| |
|
|
|
|
| |
| |
|
| |
Notes: |
| 1 |
As per Accounting Standard ( AS) 17, the Company has two segment viz ; Seamless Tube and Steel. |
| 2 |
During the current quarter ended as on 30th June,2011 , the Company has not utilised any amount out of the proceeds from Foreign Currency Convertible Bonds towards objects of the issue. |
| 3 |
The Company has adopted the amended Accounting Standard ( AS-11 ) as notified by Government of India vide G.S.R. 378 (E) dated 11th May,2011 and accordingly the exchange differences on foreign currency monetary items are being accounted.
|
| 4 |
The Company has been advised that the Amalgamation Reserve created in terms of the Scheme of Arrangement sanctioned by the Hon'ble High Court, Bombay between The Indian Seamless Metal Tubes Limited and the Company is similar in nature to a Revaluation Reserve and therefore can be adjusted against the additional depreciation attributable to fair value adjustment. Accordingly, during the current quarter the Company has adjusted depreciation of Rs. 1.70 Crore against the Amalgamation Reserve. |
| 5 |
In terms of the eligibility of the Company under the Package Scheme of Incentive, 2007, Mega Project Incentive has been treated as income following '' Income Approach '' in terms of Accounting Standard -12, " Accounting for Government Grants''. However, based on the legal advice the same has been considered as capital receipt for the purpose of taxation. |
| 6 |
As at the beginning of the Quarter 1 investor complaint was pending. During the Quarter, 22 investor complaints were received, 22 complaints were redressed and resolved and 1 complaint is pending at the end of the quarter. |
| 7 |
The auditors have conducted a " Limited Review " of the financial results for the quarter ended 30th June, 2011. |
| 8 |
The comparative figures are regrouped and reclassified to meet the current quarter's classification. |
|
The above results were reviewed by the Audit committee and have been taken on record by the Board of Directors at their meeting held on 13th August,2011. |
| |
|
| |
For ISMT Limited |
| |
|
| |
Place : Pune |
Rajiv Goel |
| |
Date : 13th August, 2011 |
Chief Financial Officer |
| |
|
| |