Steel Authority Of India Ld 18 February 2006 STEEL AUTHORITY OF INDIA LIMITED REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110003 Unaudited Financial Results for the Quarter / Nine Months ended 31st December, 2005 Rs / Million Quarter ended Nine Months ended Financial ( Unaudited ) ( Unaudited ) year ended S.no Particulars 31st December, 31st 31st December, 31st December, 31st March 2005 December, (Audited) 2005 2004 2005 2004 1 Sales/ Income from operations 74385.80 86821.80 219941.50 220208.70 325695.30 2 Less : Excise Duty 11040.50 8571.40 32432.50 21857.90 33350.10 63345.30 78250.40 187509.00 198350.80 292345.20 3 Interest Earned 1065.00 610.60 3567.80 1725.80 2627.60 4 Other Income 23.60 31.00 144.70 330.60 244.70 Total Income 64433.90 78892.00 191221.50 200407.20 295217.50 5 Expenditure a) Increase(-)/Decrease in stock in -5963.60 -1180.30 -24062.60 -7183.30 -2476.10 trade ( net of excise duty ) b) Consumption of Raw Materials 29188.30 23642.00 78704.20 63509.30 87379.50 c) Staff cost 8810.20 9472.90 28628.80 29165.50 38114.50 d) Consumption of stores & spares 5603.90 5140.10 16092.30 13795.90 19000.60 e) Power & Fuel 6057.20 5549.60 17712.30 16279.80 21955.90 f) Other Expenditure 5923.80 4537.70 17169.20 14542.60 20269.60 Total Expenditure 49619.80 47162.00 134244.20 130109.80 184244.00 6 Profit before Depreciation , 14814.10 31730.00 56977.30 70297.40 110973.50 Interest & Tax 7 Interest 1056.30 1755.50 3498.80 4476.10 6050.50 8 Depreciation 3111.90 2868.30 8752.90 8430.80 11269.50 9 Profit before tax ( 6-7-8 ) 10645.90 27106.20 44725.60 57390.50 93653.50 10 Provision for Taxation - Current Tax 4555.50 2176.90 18030.70 4552.90 7480.60 - Fringe Benefit Tax 68.90 0.00 205.90 0.00 0.00 - Deferrred Tax -824.40 9786.90 -2862.90 11447.80 18443.10 -Earlier years 0.00 0.00 0.00 0.00 -439.90 adjustments 11 Net Profit 6845.90 15142.40 29351.90 41389.80 68169.70 12 Paid up Equity Share Capital 41304.00 41304.00 41304.00 41304.00 41304.00 ( Face value : Rs. 10 per share ) 13 Reserves (excluding revaluation 61762.50 reserve ) & surplus 14 Basic and Diluted Earnings per 1.66 3.67 7.11 10.02 16.50 share ( Not Annualised ) ( Rs. ) 15 Aggregate of non-promoters share holding - No. of shares 58,57,10,260 58,57,10,260 58,57,10,260 58,57,10,260 58,57,10,260 - Percentage of share 14.18 14.18 14.18 14.18 14.18 holding Notes: i) The directions of the Ministry of Company Affairs in the matter of Company's application under sections 391 to 394 of the Companies Act, 1956 for the "Scheme of Amalgamation" (Scheme) w.e.f. 1st April, 2005 (Appointed date) between the Company and its wholly owned subsidiary company, Indian Iron & Steel Co. Limited, for approval of the Scheme are awaited. The effect of the Scheme on the financial results will be given upon receipt of necessary approvals from the Ministry of Company Affairs and concerned authorities. ii) The information on investors' complaints pursuant to clause 41 of the listing agreement for the quarter ended 31st December, 2005. Opening Balance Received during the quarter Resolved during the Closing balance quarter - 39 39 - iii) The Board of Directors has approved interim dividend @12.5% of the paid-up equity share capital for the accounting year 2005-06. iv) The figures of previous periods have been re-grouped to conform to current quarter/nine months classification. v) The above results for the quarter/nine months ended 31st December, 2005 were taken on record at the Board of Directors meeting held on 27th January, 2006. On behalf of Board of Directors Place: New Delhi Dated: 27th January, 2006 (G.C. Daga) Director (Finance) SEGMENT REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE - 41 OF THE LISTING AGREEMENT ( Rs. in Million) PARTICULARS Quarter Ended ( Unaudited ) Nine Months Ended ( Unaudited ) Financial Year Ended 31st December 31st December 31st December 31st December 31.03.2005 2005 2004 2005 2004 ( Audited ) Segment Revenue - Bhilai Steel Plant 28983.80 31077.20 82709.20 77285.00 117297.80 - Durgapur Steel Plant 9942.90 10875.50 27325.40 28841.80 41897.10 - Rourkela Steel Plant 9785.80 12588.50 28893.60 32167.60 48210.60 - Bokaro Steel Plant 22954.00 27637.00 71805.10 70798.40 101583.80 - Alloy Steel Plant 1724.40 1421.50 4956.10 3920.30 5769.00 - Salem Steel Plant 1560.10 2928.10 4966.90 5991.20 10400.30 - Visvesvaraya Iron & Steel Plant 1728.90 1419.50 4851.20 3781.70 5472.60 - Others 1954.40 1500.10 6028.10 4504.30 5985.50 Total Segment Revenue 78634.30 89447.40 231535.60 227290.30 336616.70 Less : Inter-Segment Revenue 4248.50 2625.60 11594.10 7081.60 10921.40 Net sales / Income from Operations 74385.80 86821.80 219941.50 220208.70 325695.30 Segment Results - Bhilai Steel Plant 6040.00 11365.00 22832.50 24904.10 42106.20 - Durgapur Steel Plant 433.10 2616.70 2287.40 5235.90 8612.90 - Rourkela Steel Plant 1181.00 3454.80 3446.80 6680.40 11961.10 - Bokaro Steel Plant 3335.00 10424.70 16640.90 23634.10 34386.10 - Alloy Steel Plant -7.40 -67.00 -135.80 -404.40 -300.20 - Salem Steel Plant -214.50 86.70 -293.70 135.60 154.10 - Visvesvaraya Iron & Steel Plant 62.60 68.90 239.70 -243.90 -87.70 - Others 872.40 911.90 3206.60 1924.80 2871.50 11702.20 28861.70 48224.40 61866.60 99704.00 Less : Interest 1056.30 1755.50 3498.80 4476.10 6050.50 Expenses Total profit ( + 10645.90 27106.20 44725.60 57390.50 93653.50 ) / Loss ( - ) before Tax Capital Employed ( Segment assets less segment liabilities excluding Inter unit Balances ) - Bhilai Steel Plant 26726.80 19042.10 26726.80 19042.10 19784.70 - Durgapur Steel Plant 28696.20 31112.40 28696.20 31112.40 29809.80 - Rourkela Steel Plant 35811.70 33189.90 35811.70 33189.90 32369.90 - Bokaro Steel Plant 23616.40 19529.40 23616.40 19529.40 20139.60 - Alloy Steel Plant 2217.40 1871.00 2217.40 1871.00 2467.70 - Salem Steel Plant 9758.00 7547.80 9758.00 7547.80 7365.60 - Visvesvaraya Iron & Steel Plant 3657.10 2757.90 3657.10 2757.90 3338.90 - Others 56925.80 47023.30 56925.80 47023.30 63931.30 Total Capital Employed in the Company 187409.40 162073.80 187409.40 162073.80 179207.50 Note : Segments have been identified in line with the Accounting Standard on Segment Reporting ( AS-17 ) taking into account the Organisation and Management structure and also Internal Financial Reporting System though the Company primarily deals in Iron & Steel items. Segment Revenue,Results and Capital Employed include the respective amounts identifiable to each of the segments. On behalf of Board of Directors Place : New Delhi ( G.C Daga ) Date : January 27, 2006 Director ( Finance ) This information is provided by RNS The company news service from the London Stock Exchange