Financial Results for the Quarter / Year ended 31st March, 2006
Rs / Million
   
Nine Months ended 
 Quarter ended Financial year ended Consolidated Financial Results
S.no Particulars
(Unaudited) 
 (Audited )  (Audited)   (Unaudited) ( Audited )
    31st December,2005 31st March,2006 31st March,2005 31st March,2006 31st March,2005 31st March,2006 31st March,2005
                 
1 Sales/ Income from operations 229055.00 103152.80
 105486.60
 332207.80
 325695.30 335045.80 345591.40
2 Less : Excise Duty 33458.70
 10963.10
 10963.70
 44421.80
 32821.60 44459.70
 34567.60
    195596.30
 92189.70
 94522.90
 287786.00
 292873.70 290586.10
 311023.80
 
3 Interest Earned - Others 3513.30
1101.60
901.80
4614.90
 2627.60
 4614.90
 2558.50
4 Other Income 221.10
497.90
-85.90
719.00
 244.70
 789.80
 246.20
 
  Total Income 199330.70
 93789.20
 95338.80
 293119.90
 295746.00
 295990.80
 313828.50
 
5 Expenditure              
  a) Increase(-)/Decrease in stock in trade -26079.50
 15746.50
 4707.20
 -10333.00
 -2476.10
 -10117.30
 -3454.60
  b) Consumption of Raw Materials 83253.10
 30794.30
 23870.20
 114047.40
 87379.50
 112688.10
 90757.80
  c) Staff cost 31301.50
 10265.40
 8950.60
 41566.90
 38116.10
 41941.50
 46038.50
  d) Consumption of stores & spares 16972.20
 6143.60
 5204.70
 23115.80
 19000.60
 23158.40
 20348.80
  e) Power & Fuel 18402.40
 6495.00
 5676.10
 24897.40
 21955.90
 25843.70
 24002.80
  f) Other Expenditure 18431.00
 7586.40
 6253.90
 26017.40
 20796.50
 27342.80
 23092.70
  Total Expenditure 142280.70
 77031.20
 54662.70
 219311.90
 184772.50
 220857.20
 200786.00
6 Profit before Depreciation , Interest & Tax 57050.00
 16758.00
 40676.10
 73808.00
 110973.50
 75133.60
 113042.50
 
7 Interest 3538.40
 1139.20
 1574.40
 4677.60
 6050.50
 4841.90
 6361.60
8 Depreciation 9031.70
 3041.30
 2838.70
 12073.00
 11269.50
 12571.30
 12046.80
9 Profit before tax ( 5-6-7 ) 44479.90
12577.50
 36263.00
 57057.40
 93653.50
 57720.40
 94634.10
10 Provision for Taxation
           
            - Current tax 18030.70
 1123.30
 2927.70
 19154.00
 7480.60
 19318.40
 7656.20
            - Fringe Benefit tax 214.40
 28.90
 0.00
 243.30
 0.00
 246.60
 0.00
            - Deferred tax -2862.90
 409.20
 6995.30
 -2453.70
 18443.10
 -2440.70
 18470.50
             -Earlier year's adjustments 0.00
 -15.90
 -439.90
 -15.90
 -439.90
 -15.70
 -439.30
11 Net Profit 29097.70
 11032.00
 26779.90
 40129.70
 68169.70
 40611.80
 68946.70
12 Minority Interest 0.00
 0.00
 0.00
 0.00
 0.00
 1.70
 4.50
13 Net Profit/Loss(-) after Minority Interest 29097.70
 11032.00
 26779.90
 40129.70
 68169.70
 40610.10
 68942.20
14 Paid up Equity Share Capital 41304.00
 41304.00
 41304.00
 41304.00
 41304.00
 41304.00
 41304.00
  ( Face value : Rs. 10 per share )  
     
15 'Reserves (excluding revaluation reserve ) & Surplus  
84710.10
 61762.50
 85748.30
 53483.60
16            Basic and Diluted Earnings per share ( Rs. ) 7.04
 2.67
 6.48
 9.72
 16.50
 9.83
 16.69
17            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 holding           14.18
 14.18 14.18
 14.18
 14.18
    

Notes :

i) The above results for the Quarter/Year ended 31st March 2006 were taken on record at the Board of Directors meeting held on 25th May 2006. The audited accounts are subject to review by the Comptroller and Auditor General of India under section 619(4) of the Companies Act, 1956.

ii) Pursuant to the scheme of amalgamation under sections 391 to 394 of the Companies Act, 1956, as approved by the Central Government vide its Order dated 15th February 2006, effective from 16th February 2006 on filing the order with Registrars of Companies of Delhi and West Bengal, the Indian Iron & Steel Company Limited (IISCO), an erstwhile wholly owned subsidiary company, has been amalgamated with the Company, with effect from the appointed date i.e.1st April 2005. In line with the scheme of amalgamation, accounting treatment has been given from the appointed date. Accordingly, the above results for the nine months ended 31st December, 2005, quarter and year ended 31st March, 2006 are inclusive of the financial results of IISCO for the respective periods. The results of the quarter and financial year ended 31st March, 2005, being prior to merger of IISCO with the Company, are exclusive of financial results of IISCO. Therefore, the figures for the current year are not comparable with the corresponding period of previous year. However, the consolidated financial results for the year ended 31st March, 2005 includes results of IISCO, as subsidiary of the Company.

iii) The Board of Directors have recommended a final dividend of 7.5% on paid-up equity share capital, in addition to the interim dividend of 12.5% already paid, for the financial year 2005-06, thus taking the total dividend to 20% on paid-up equity share capital, subject to approval of shareholders.

iv) The following subsidiary, associate and joint venture companies have been considered for the purpose of preparing Consolidated Financial Results as per the following Accounting Standards: (a) Consolidated Financial Statements (AS-21), (b) Accounting for investments in Associates in Consolidated Financial Statements (AS-23), (c) Financial Reporting of interests in Joint Ventures (AS-27):


Subsidiary : Maharashtra Elektrosmelt Ltd.** (99.12)

Joint Ventures :
      1. NTPC-SAIL Power Company (Pvt) Ltd* (50)
     2. Bhilai Electric Supply Company (Pvt) Ltd* (50)
     3. Bokaro Power Supply Company (Pvt) Ltd** (50)
     4. Metaljunction Services Limited* (50)
     5. SAIL- Bansal Service Centre Ltd. (40)**
     6. Romelt-SAIL (India) Ltd.** (15)
     7. North Bengal Dolomite Limited (50)**
     8. UEC-SAIL Information Technology Ltd**.(40)

Associate : Almora Magnesite Ltd.** (20)
[The joint venture, N.E. Steels & Galvanising Pvt. Limited, is yet to start its operations.]

  *  Based on audited accounts for 2005-06
 ** Based on unaudited accounts for 2005-06.

                (Figures in brackets indicate % share of ownership of the Company in these entities)

v) The information on Investor’s complaints pursuant to Clause 41 of the listing agreement for the quarter ended 31st March, 2006 is :
Opening Balance Received during the quarter Resolved during the quarter Closing balance
- 41 41 -
 


vi) Figures for the previous periods/year have been regrouped, wherever necessary. Pursuant to the amalgamation of IISCO with the Company, as explained in note (ii) above, the figures for the current year are not comparable with the previous year.

On behalf of Board of Directors:

Place : New Delhi.

Date : 25th May, 2006

(G. C. Daga)

Director (Finance)