Investor Relations
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th SEPTEMBER,2011
   
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  Rs. in Crore
Sr. No. Particulars Quarter ended 30th Sept.,2011 Quarter ended 30th Sept.,2010 Half Year ended 30th Sept.,2011 Half Year ended 30th Sept.,2010 Year ended 31st March, 2011
Audited
              
1 Gross Sales/ Income from Operations 825.68 687.68 1555.53 1266.94 2604.27
  Less : Inter Segment Transfers 226.42 202.84 405.99 363.77 709.10
    Inter Division Transfers 50.98 46.45 95.52 86.17 150.39
    Excise Duty 36.10 35.30 72.30 63.89 131.07
  (a) Net Sales/ Income from Operations 512.18 403.09 981.72 753.11 1613.71
  (b) Other Operating Income 9.91 3.39 17.47 7.21 24.39
   
  Total Income (a+b) 522.09 406.48 999.19 760.32 1,638.10
   
2 Expenditure
  (a) (Increase) / Decrease in Stock-in-trade and  Work in progress 4.40 (16.03) (30.25) (56.94) (55.25)
       
  (b) Consumption of Raw Materials 258.51 187.29 521.66 371.22 797.60
  (c) Direct Expenditure :  
  (i) Energy 85.64 73.06 169.03 136.58 280.98
  (ii)Other Direct Expenditure 70.67 62.35 136.91 122.91 242.90
  (d) Employees Costs 28.63 22.16 55.46 44.42 94.69
  (e) Depreciation & Amortisation 20.73 20.28 40.97 37.88 85.54
  (f) Other Expenditure 4.91 3.83 9.85 7.49 16.66
  (g)Total ( a to f ) 473.49 352.94 903.63 663.56 1,463.12
   
3 Profit from Operations before Other Income , Interest and Finance Charges (1-2) 48.60 53.54 95.56 96.76 174.98
4 Other Income 3.55 1.20 9.04 5.89 14.17
5 Profit before Interest and Finance Charges ( 3+4) 52.15 54.74 104.60 102.65 189.15
6 Interest and Finance Charges 25.00 22.06 51.60 41.34 90.56
   
7 Profit after Interest and Finance Charges but before Foreign Exchange (Gain)/ Loss and tax (5-6) 27.15 32.68 53.00 61.31 98.59
8 Foreign Exchange (Gain) / Loss 12.45 (7.09) 12.34 3.13 2.57
9 Profit from Ordinary Activities before tax (7- 8) 14.70 39.77 40.66 58.18 96.02
10 Tax expenses - Current Tax 0.01 - 0.02 - 0.05
  Tax expenses - Deferred Tax 4.20 15.66 11.59 15.66 20.61
11 Net Profit from Ordinary Activities after tax (9-10) 10.49 24.11 29.05 42.52 75.36
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 Balance Sheet of previous accounting year. - - - - 545.45
   
14 Earnings per share          
  Basic Earnings per share of Rs.5/- each (Rs) ( not annualised) 0.72 1.65 1.98 2.90 5.14
15 Public Shareholding          
  Number of Shares 70789124 71342562 70789124 71342562 70927320
  Percentage of Shareholding 48.32% 48.70% 48.32% 48.70% 48.41%
16 Promoters and promoter group shareholding
  (a) Pledged / Encumbered          
  Number of Shares NIL 775000 NIL 775000 375000
  Percentage of Shares ( as a % of the total shareholding of promoter and Promoter group ) - 1.03% - 1.03% 0.50%
  Percentage of Shares ( as a % of the total share capital of the company ) - 0.53% - 0.53% 0.26%
  (b) Non - Encumbered          
  Number of Shares 75712259 74383821 75712259 74383821 75199063
  Percentage of Shares ( as a % of the total shareholding of promoter and Promoter group ) 100.00% 98.97% 100.00% 98.97% 99.50%
  Percentage of Shares ( as a % of the total share capital of the company ) 51.68% 50.77% 51.68% 50.77% 51.33%
 
   
  Notes:
1 As per Accounting Standard ( AS) 17, the Company has two segment viz ; Seamless Tube and Steel.
2 During the current quarter and half year, the Company has not utilised any amount out of the proceeds from Foreign Currency Convertible Bonds towards objects of the issue.
3 The exchange loss on revenue account, arrived at the end of the current quarter in respect of foreign currency transactions is charged on pro-rata basis over the current and balance quarters of the year except in case of term loans where foreign exchange difference is charged over the life of the loan.
4 Based on the advice on treatment of Amalgamation Reserve created in terms of the Scheme of Arrangement,sanctioned by the Hon'ble High Court , Bombay , the Compnay has adjusted depreciation of Rs. 1.69 Crore and Rs. 3.38 Crore during current quarter and for half year ended 30th September,2011 respectively 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, 2 investor complaints were received, 1 complaint was redressed and resolved and 2 complaints were pending at the end of the quarter.
7
The Insurance claims arising during the quarter have been accounted on accrual basis.The difference, if any, on claim settlement shall be accounted for in the period of settlement.
8
  • The auditors have conducted a " Limited Review " of the financial results for the quarter ended 30th September, 2011.
9 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 8th November,2011.
  For ISMT Limited
   
  Place : Pune Rajiv Goel
  Date : 8th November, 2011 Chief Financial Officer
   
 
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