Investor Relations
Unaudited Financial Results For The Quarter Ended 31st December, 2010
Rs. in Crore
Sr. No. Particulars 3 months ended 31/12/2010 Corresponding 3 months ended in the previous year 31/12/2009 Nine Months ended 31st Dec.,10 Nine Months ended 31st Dec.,09 Year ended 31st March, 2010
              
1 Gross Sales/ Income from Operations 621.05 483.43 1,881.96 1,352.28 1,914.20
   
  Less : Inter Segment Transfers 177.56 136.07 541.33 387.04 544.14
    Inter Division Transfers 33.26 21.86 119.43 61.02 97.97
    Excise Duty 30.70 21.37 94.59 59.63 86.95
   
  (a) Net Sales/ Income from Operations 379.53 304.13 1,126.61 844.59 1,185.14
  (b) Other Operating Income 9.06 2.11 16.27 5.48 8.13
  Total Income (a+b) 388.59 306.24 1,142.88 850.07 1,193.27
   
2. Expenditure
  (a) (Increase) / Decrease in Stock-in-trade and (18.00) (2.46) (74.94) (4.33) (26.90)
  Work in progress          
  (b) Consumption of Raw Materials 187.25 138.82 552.82 366.96 527.85
  (c) Direct Expenditure :          
  (i) Energy 71.80 59.29 208.38 151.41 214.71
  (ii)Other Direct Expenditure 51.75 42.17 174.34 116.95 173.62
  (d) Employees Costs 24.77 19.72 69.19 58.70 81.53
  (e) Depreciation & Amortisation 20.37 14.38 58.25 42.60 56.44
  (f) Other Expenditure 4.27 3.68 11.76 10.89 16.05
  (g)Total ( a to f ) 342.21 275.60 999.80 743.18 1,043.30
   
3 Profit from Operations before Other Income , Interest and Finance Charges (1-2) 46.38 30.64 143.08 106.89 149.97
4 Other Income 1.50 1.28 7.39 4.02 11.40
5 Profit before Interest and Finance Charges ( 3+4) 47.88 31.92 150.47 110.91 161.37
6 Interest and Finance Charges 23.71 19.33 65.05 58.34 78.66
   
7 Profit after Interest and Finance Charges but before 24.17 12.59 85.42 52.57 82.71
  Foreign Exchange (Gain)/ Loss and tax (5-6)          
8 Foreign Exchange (Gain) / Loss (0.36) (2.48) 2.71 (4.77) (8.52)
9 Profit from Ordinary Activities before tax (7- 8) 24.53 15.07 82.71 57.34 91.23
10 Tax expenses 9.95 - 25.61 - 16.62
11 Net Profit from Ordinary Activities after tax (9-10) 14.58 15.07 57.10 57.34 74.61
12 Paid-up Equity Share Capital (Face Value of Rs.5/- per share) 73.25 73.25 73.25 73.25 73.25
13 Reserves excluding Revaluation Reserves as per - - - - 506.11
Balance Sheet of previous accounting year.          
14 Earnings per share
  Basic Earnings per Share (Rs) ( not annualised) 1.00 1.03 3.90 3.91 5.09
15 Public Shareholding
  Number of Shares 71297290 71523845 71297290 71523845 71468845
Percentage of Shareholding 48.67% 48.82% 48.67% 48.82% 48.78%
16 Promoters and promoter group shareholding          
  (a) Pledged / Encumbered          
  Number of Shares 375000 775000 375000 775000 775000
  Percentage of Shares ( as a % of the total shareholding of promoter 0.50% 1.03% 0.50% 1.03% 1.03%
  and Promoter group )          
  Percentage of Shares ( as a % of the total share capital of the 0.26% 0.53% 0.26% 0.53% 0.53%
  company )          
  (b) Non - Encumbered          
  Number of Shares 74829093 74202538 74829093 74202538 74257538
  Percentage of Shares ( as a % of the total shareholding of promoter 99.50% 98.97% 99.50% 98.97% 98.97%
  and Promoter group )          
  Percentage of Shares ( as a % of the total share capital of the 51.07% 50.65% 51.07% 50.65% 50.69%
  company )          
             
  Notes :
   
1 As per Accounting Standard ( AS) 17, the Company has two segment viz; Seamless Tube and Steel.
2 During the current quarter and nine months ended as on 31st December,2010 , 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 and accordingly, the exchange difference on foreign currency monetary items are being accounted. Balance in the "Foreign Currency Monitory Item Translation Difference Account " as on 31st December, 2010 is Rs.1.90 crores.
4 During the quarter the Company has accrued the Electricity Duty and Sales Tax benefit of Mega project for Baramati Plant under the Package Scheme of incentives 2007of the Government of Maharashtra .
5 As at the beginning of the Quarter there were no outstanding investor complaints. During the Quarter 9 investor complaints were received, 8 complaints were redressed and resolved and 1 complaint is pending at the end of the quarter.
6 The deferred tax has been pro-rated on quarterly basis and the balance will be provided at the year end on actual basis.
7 The auditors have conducted a " Limited Review " of the financial results for the quarter ended 31st December, 2010.
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 11th February, 2011 .
   
 
  For ISMT Limited.
   
Place : Pune. Rajiv Goel.
Date : 11th February, 2011 Chief Financial Officer.
 
   
 
 
 
 
 
 
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