Unaudited Financial Results for the Quarter / Half Year ended on 30th September, 2006

STEEL AUTHORITY OF INDIA LIMITED,
REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110003

Rs / Million

S.No.

Particulars

Quarter ended (Unaudited)

Half Year ended (Unaudited)

Financial
year ended
31st March 2006
(Audited)

30th September, 2006

30th September, 2005

30th
September,
2006

30th September, 2005

Gross sales/ Income from operations

98196.40

83839.50

185149.20

151145.10

331737.20

Less : Excise Duty

12805.50

11643.70

24108.60

19520.30

44299.10

Net sales / Income from operations

85390.90

72195.80

161040.60

131624.80

287438.10

Interest Earned

2019.50

1308.00

3452.70

2520.70

4614.90

Other Income

241.10

215.60

320.60

323.10

1189.60

Total Income
( 1+2+3+4 )

87651.50

73719.40

164813.90

134468.60

293242.60

Expenditure

a) Increase(-)/
Decrease in stock-in-trade

2341.10

-2017.10

-5127.20

-17539.50

-10210.30

b) Consumption of Raw Materials

30470.20

25985.30

59215.80

52378.00

114047.40

c) Staff cost

10411.80

10683.20

22287.40

21634.70

41566.90

d) Consumption of stores & spares

6478.20

5900.70

12641.60

11058.00

23115.80

e) Power & Fuel

6372.90

6163.50

12697.10

12093.60

24897.40

f) Other Expenditure

5983.50

5853.10

12607.70

12407.60

26017.40

Total Expenditure
( a to f )

62057.70

52568.70

114322.40

92032.40

219434.60

Profit before Depreciation , Interest & Tax ( 5-6 )

25593.80

21150.70

50491.50

42436.20

73808.00

Interest

924.10

1211.50

1860.80

2531.40

4677.60

Depreciation

3034.60

2865.70

5993.40

5789.10

12073.00

Profit before tax
( 7-8-9 )

21635.10

17073.50

42637.30

34115.70

57057.40

11.

Provision for Taxation

(a) Current Tax

7902.70

6549.90

16123.70

13475.20

19154.00

(b) Fringe Benefit Tax

61.10

95.80

122.00

142.00

243.30

-445.90

-844.40

-1589.70

-2038.50

-2453.70

(d) Earlier years

-310.90

0.00

-310.90

0.00

-15.90

Sub-Total ( a to d )

7207.00

5801.30

14345.10

11578.70

16927.70

12.

Net Profit after Tax
( 10-11 )

14428.10

11272.20

28292.20

22537.00

40129.70

13.

Paid up Equity Share Capital ( Face value : Rs. 10 per share )

41304.00

14.

Reserves (excluding revaluation reserve ) & surplus

84710.10

15.

Earnings per share - Basic and Diluted ( Not Annualised )
( Rupees )

3.49

2.73

6.85

5.46

9.72

16.

Aggregate of public share holding

- Number of shares

58,40,67,725

58,40,38,625

58,40,67,725

58,40,38,625

58,40,48,325

- Percentage of share holding

14.14

Notes :

i) The above results for the quarter/half year ended 30th September, 2006 were taken on record at the Board of Directors’ meeting held on 30th October, 2006.

ii) Pursuant to the amalgamation of the Indian Iron & Steel Company Limited (ISP), with the Company with effect from 16th February 2006, from the appointed date i.e.1st April 2005, the previous year’s figures for the quarter/half year have been regrouped by including ISP’s figures.

iii) Net sales/income from operations for the current half year includes Rs.5581.70 million (considered in 1st quarter) for the earlier periods, consequent to the effect of price escalations finalised with a major customer.

iv) The information on investors’ complaints pursuant to clause 41 of the listing agreement for the quarter ended 30th September, 2006.

Opening Balance	Received during the quarter	Resolved during the quarter	Closing balance
1	25	26	-

v) The figures of previous periods have been re-grouped to conform to current quarter/half year’s classification .

On behalf of Board of Directors

Place: New Delhi

Dated: 30th October, 2006

( G. Ojha )

Director (Personnel&Finance)