Investor Relations
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st DECEMBER, 2012
Rs. in Crore
Sr. No. Particulars Quarter ended Nine Months ended Year ended
31st Dec., 2012 30th Sep., 2012 31st Dec., 2011 31st Dec., 2012 31st Dec., 2011 31st March, 2012
     Unaudited Unaudited Unaudited Unaudited Unaudited Audited
PART-I  
1 Gross Sales/ Income from Operations 513.96 634.72 723.11 1,872.92 2,237.93 2,980.60
  Less :  Inter Segment Transfers 144.45 196.68 189.25 540.68 563.88 792.72
  Inter Division Transfers 19.31 38.33 38.40 95.18 133.91 164.84
  Excise Duty 36.75 31.12 36.35 106.12 107.89 143.62
  (a) Net Sales/ Income from Operations 313.45 368.59 459.11 1,130.94 1,432.25 1,879.42
  (b) Other Operating Income 24.00 17.81 14.17 62.47 42.93 65.01
   
  Total Income from Operations (a+b) 337.45 386.40 473.28 1,193.41 1,475.18 1,944.43
   
2 Expenses
  (a) Consumption of Raw Materials 166.14 153.11 250.67 575.86 772.33 1,000.07
  (b) Purchases of stock-in-trade 2.24 2.45 - 6.06 - -
  (c) Changes in inventories of finished goods,       work-in-progress and stock-in-trade (8.32) 17.63 (11.80) (26.18) (42.06) (39.26)
  (d) Employee benefit expenses 28.07 29.20 28.66 85.71 84.12 113.47
  (e) Depreciation & Amortisation Expense 25.33 23.69 22.43 70.97 63.40 84.50
  (f) Other Expenses :            
  (i) Energy 75.09 81.72 85.90 243.77 257.63 343.63
  (ii)Other Direct Expenditure 47.98 59.32 61.46 174.15 198.75 265.18
  (iii) Other Expenditure 5.13 6.01 4.80 17.34 14.30 20.31
   
  Total Expenses 341.66 373.13 442.12 1,147.68 1,348.47 1,787.90
   
3 Profit / (Loss) from Operations before other income,finance costs (4.21) 13.27 31.16 45.73 126.71 156.53
  and exceptional items (1-2)
4 Other Income 3.40 4.94 4.27 12.53 13.31 24.44
5 Profit / (Loss) from ordinary activities before finance costs and (0.81) 18.21 35.43 58.26 140.02 180.97
  exceptional items ( 3+4)            
6 Finance Costs 39.62 38.59 32.22 115.51 83.83 120.79
7 Profit / (Loss) from ordinary activities after finance costs but before (40.43) (20.38) 3.21 (57.25) 56.19 60.18
  exceptional items and foreign exchange( Gain)/ Loss( 5-6)
8 Exceptional items (Foreign Exchange (Gain)/ Loss) 8.73 24.95 6.90 52.83 19.24 31.52
9 Profit / (Loss) from ordinary activities before tax (7- 8) (49.16) (45.33) (3.69) (110.08) 36.95 28.66
10 Tax Expenses (13.50) (17.12) (5.46) (30.62) 6.13 0.07
11 Net Profit / (Loss) from ordinary activities after tax (9-10) (35.66) (28.21) 1.77 (79.46) 30.82 28.59
12 Extraordinary items - - - - - -
13 Net Profit / (Loss) for the period after tax (11-12) (35.66) (28.21) 1.77 (79.46) 30.82 28.59
14 Paid-up Equity Share Capital (Face Value of Rs.5/- per share) 73.25 73.25 73.25 73.25 73.25 73.25
15 Reserves excluding Revaluation Reserves as per - - - - - 514.10
  Balance Sheet of previous accounting year.
16 Earnings per share before extraordinary items            
  Basic & Diluted Earnings per share of Rs.5/- each (Rs) ( not annualised) (2.43) (1.93) 0.12 (5.42) 2.10 1.95
17 Earnings per share after extraordinary items            
  Basic & Diluted Earnings per share of Rs.5/- each (Rs) ( not annualised) (2.43) (1.93) 0.12 (5.42) 2.10 1.95
   
PART-II  
A SELECT INFORMATION FOR THE QUARTER ENDED 31st DECEMBER, 2012
  PARTICULARS OF SHAREHOLDING
1 Public Shareholding
  Number of Shares 70794009 70764009 70759176 70794009 70759176 70754009
  Percentage of Shareholding 48.32% 48.30% 48.30% 48.32% 48.30% 48.30%
2 Promoters and promoter group shareholding
  (a) Pledged / Encumbered            
  Number of Shares NIL NIL NIL NIL NIL NIL
  Percentage of Shares ( as a % of the total shareholding of promoter - - - - - -
  and promoter group )            
  Percentage of Shares ( as a % of the total share capital of the company ) - - - - - -
  (b) Non - Encumbered
  Number of Shares 75707374 75737374 75742207 75707374 75742207 75747374
  Percentage of Shares ( as a % of the total shareholding of promoter 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
  and promoter group )
  Percentage of Shares ( as a % of the total share capital of the company ) 51.68% 51.70% 51.70% 51.68% 51.70% 51.70%
B INVESTOR COMPLAINTS
  Pending at the beginning of the quarter NIL
  Received during the quarter 6
  Disposed of during the quarter 6
  Remaining unresolved at the end of the quarter NIL
   
 
   
  Notes:
1 The Company has adopted the Hedge Accounting policy and principles set out in Accounting Standard ( AS -30) Financial Instruments: Recognition and Measurement. During the quarter ended 31st December, 2012, the Company has carried Exchange loss of Rs.29.58 Crore to Hedge Reserve Account and charged Exchange Loss of Rs. 9.01 Crore to Profit and Loss Account from Hedge Reserve Account. Balance in Hedge Reserve Accounts as on 31st December, 2012 is Rs. 35.05 Crore.
2 The Company has exercised the option as per Para 46 A inserted in the Accounting Standard ( AS-11) for treatment of exchange difference on long term monetary liabilities, other than covered under the Hedge accounting . Accordingly during the quarter ended 31st December, 2012, Exchange loss capitalized is Rs. 18.84 Crore and Exchange loss recognized in Foreign Currency Monetary Item Translation Difference Account (FCMITDA) is Rs. 1.52 Crore and Exchange Loss of Rs. 0.35 Crore transferred to Profit & Loss Account from FCMITDA . Balance in FCMITDA as on 31st December, 2012 is Rs. 7.25 Crore.
3 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 Company has adjusted depreciation of Rs.1.70 Crore and Rs. 5.06 Crore during current quarter and nine months ended 31st December, 2012 respectively against the Amalgamation Reserve.
4 The insurance claim lodged during the quarter ended 31st December, 2011 has been accounted on accrual basis and a note to this effect was given in the previous year’s quarterly results. The limited review report has been qualified with respect to the said note and the Company expects that the said claim to be settled by the insurance Company without any material deviation.
5 The auditors have conducted a “Limited Review’’ of the financial results for the quarter ended 31st December, 2012.
6 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 14th February, 2013.
   
  For ISMT Limited
   
  Place : Pune Rajiv Goel
  Date : 14th February, 2013 Chief Financial Officer
   
 
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