Investor Relations
Unaudited Financial Results for the Quarter Ended 30th June, 2007
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Rs. in Crore
Sr. No. Particulars Quarter Ended 30th June, 2007 Quarter Ended 30th June, 2006 Year Ended 31st March, 2007
         Unaudited
1 Gross Sales / Income from Operations 481.52 454.20 2,055.99
  Less: Inter Segment Transfers 153.72 129.66 632.52
    Inter Division Transfers 24.59 20.22 88.17
    Excise Duty 32.55 33.81 138.23
   
2 Net Sales / Income from Operations 270.66 270.51 1,197.07
3 Other Income 1.14 0.55 3.35
4 Total Income 271.80 271.06 1,200.42
5 Total Expenditure
  (a) (Increase) / Decrease in Stock-in-trade (10.86) 15.63 4.54
  (b) Consumption of Raw Materials 133.53 114.53 532.00
  (c) Direct Expenditure      
  (i) Energy 41.70 38.12 165.00
  (ii) Other Direct Expenditure 34.59 30.60 151.24
  (d) Staff Costs 16.00 12.22 59.31
  (e) Other Expenditure 3.76 3.43 18.71
  Total Expenditure 218.72 214.53 930.80
         
6 Earnings Before Interest, Depreciation and Tax (EBIDTA) 53.08 56.53 269.62
       
7 Finance Charges 11.21 22.02 76.05
8 Depreciation & Amortization 13.61 13.23 56.71
9 Profit Before Tax 28.26 21.28 136.86
10 Less: Provision for Taxation – Current 2.55 2.39 13.40
  - Fringe Benefit 0.07 0.09 0.52
  - Deferred Tax (Net) 5.74 - 17.4
  Add : MAT Credit (including previous year) 2.55 - 23.48
       
11 Net Profit After Tax 22.45 18.80 129.02
         
12 Cash Profit 39.25 32.03 179.65
         
13 Paid-up Equity Share Capital 72.19 72.19 72.19
14 Reserves excluding Revaluation Reserves - - -
15 Earnings per share ( Basic and Diluted) (Rs.) 1.55 1.30 8.94
  Not annualized (Face Value of Rs. 5/- per share)
   
16 Cash Earnings per share (Rs.) 2.72 2.22 12.44
  Not annualized (Face Value of Rs. 5/- per share)
 
Notes
1. The Company is primarily a Seamless tube producer with captive steel making facilities. However in order to comply with Accounting Standard 17, the Company is classifying Steel also as a separate Segment.
2. The Company has during the Quarter utilized Rs 27.83.Crores out of the proceeds from Foreign Currency Convertible (FCCB) towards objects of the FCCB issue.
3. During the quarter, the Company has acquired Structo Hydraulics AB, Sweden through its subsidiary ISMT Enterprises SA.
4. Consequent to the notification of Companies (Accounting Standards) Rules, 2006, w.e.f. 1st April, 2007, the exchange differences arising out of payment / restatement of liabilities related to fixed assets, which in accordance with Accounting Standard 11 were previously being capitalized as part of cost of fixed assets are now recognized in the Profit & Loss Account. As a result, profit for the current quarter is higher by Rs.0.67 Crores.
5. As at the beginning and end of the Quarter there were no outstanding investor complaints. During the Quarter, 18 investor complaints were received and same were redressed.
6. The comparative figures are regrouped and reclassified to meet the current quarter's classification. The above results were taken on record by the Board of Directors at their meeting held on 31st July, 2007 and have been reviewed by the Auditors.
 
Place: Pune For ISMT Limited
Date: 31st July 2007 Rajiv Goel
Chief Financial Officer
 
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