Investor Relations
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
   
 
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