Investor Relations
Segment Wise Unaudited Financial Results For The Quarter Ended 30th September, 2010
Rs. in Crore
   
1
2
3
4
5
   
Sr. No. Particulars Quarter ended 30th Sept.,2010 Quarter ended 30th Sept.,2009 Half Year ended 30th Sept.,2010 Half Year ended 30th Sept.,2009 Year ended 31st March, 2010
         Audited
1 Segment Revenue          
             
  a) Gross Sales – Tube 365.66 227.07 649.19 442.09 965.49
  Less : Inter Segment 10.87 8.79 20.51 14.14 29.81
             Inter Division 46.45 22.66 86.17 39.16 97.97
             Excise Duty 22.60 11.32 38.07 23.28 52.17
    __________ __________ __________ __________ __________
  Sub total 285.74 184.30 504.44 365.51 785.54
     
  b) Gross Sales – Steel 326.94 225.14 618.93 430.11 956.84
  Less : Inter Segment 191.97 113.82 343.26 236.82 514.33
             Excise Duty 12.70 8.73 25.82 14.97 34.78
    __________ __________ __________ __________ __________
  Sub total 122.27 102.59 249.85 178.32 407.73
     
  Total Net Sales/ Income from Operations 408.01 286.89 754.29 543.83 1,193.27
   
2 Segment Results
  (Profit after Depreciation & before interest and          
  Finance Charges, Foreign Exchange (Gain) / Loss,          
  Unallocable income (net) and Tax.
     
  a) Tube 35.97 15.30 50.67 37.60 76.70
  b) Steel * 24.51 19.31 49.88 39.11 79.60
    __________ __________ __________ __________ __________
  Total 60.48 34.61 100.55 76.71 156.30
  Less : Interest & Finance Charges 22.06 19.05 41.34 39.01 78.66
             Foreign Exchange ( Gain) / Loss (0.33) (1.05) 3.07 (2.29) (8.52)
  Add : unallocable Income 1.02 1.09 2.04 2.28 5.07
             ( net of unallocable Expenses)
     
  Total Profit Before Tax 39.77 17.70 58.18 42.27 91.23
   
  Less : Tax Expenses 15.66 - 15.66 - 16.62
   
  Total Profit After Tax 24.11 17.70 42.52 42.27 74.61
3 Capital Employed
  ( Segment Assets – Segment Liabilities)
   
  a) Tube 1,364.43 1,185.47 1,364.43 1,185.47 1,243.20
  b) Steel 169.93 257.43 169.93 257.43 176.46
  c) Unallocable (912.47) (940.81) (912.47) (940.81) (840.30)
   
 
   
  * Includes profit on steel captively consumed by Tube Segment
   
 
Statement of Assets and Liabilities
Rs. in Crore
   
1
2
   
Sr. No. Particulars As at 30th Sept.,2010 As at 30th Sept.,2009
        
SOURCES OF FUNDS    
       
1 Shareholders Funds
  (a) Share Capital 73.25 73.25
  (b) Reserves and Surplus 548.63 500.67
2 Loan Funds 1,068.36 1,045.28
3 Deferred Tax Liability 57.34 15.29
  Total 1,747.58 1,634.49
   
  APPLICATION OF FUNDS
1 Fixed Assets 1,268.48 1,144.16
  (Including Capital Work in Progress)
2 Investments 35.74 26.49
3 Foreign Currency Monetary Item 2.44 19.71
  Translation Difference Account
4 Current Assets, Loans and Advances
   
(a) Inventories 401.94 336.60
  (b) Sundry Debtors 418.32 272.79
  (c) Cash and Bank Balances 49.91 47.13
  (d) Loans and Advances 252.03 258.43
  1,122.20 914.95
  Less: Current Liabilities and Provisions
 
  (a) Current Liabilities 661.02 452.02
  (b) Provisions 21.70 21.02
  682.72 473.04
 
  Net Current Assets 439.48 441.91
 
5 Miscellaneous Expenditure 1.44 2.22
  ( to the extent not written off or adjusted )
   
  Total 1,747.58 1,634.49
 
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 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.
4 As at the beginning and end of the quarter there were no outstanding investor complaints. During the quarter 17 investor complaints were received and same were redressed .
5 The auditors have conducted a " Limited Review " of the above financial results for the quarter ended 30th September, 2010.
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 15th November, 2010.
   
 
  For ISMT Limited.
   
Place : Pune. Rajiv Goel.
Date : 15th November, 2010 Chief Financial Officer.
 
   
 
 
 
 
 
 
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