ESSAR STEEL LIMITED
Regd. Office : Post Hazira, Pin 394 270, Dist Surat
Corp.Office : Essar House, 11 Keshavrao Khadye Marg, Mahalaxmi, Mumbai 400 034.
Unaudited Financial Results (Provisional) for the Quarter ended December 31, 2000
Particulars
Quarter ended
Period ended
(Rs in Million)
Previous Year
31.12.2000
31.12.1999
31.12.2000
31.12.1999
ended 31.03.2000
Sales
6154.9
6837.6
19862.3
16691.8
24218.4
Other Income
61.8
173.8
301.5
220.2
483.1
Total
6216.7
7011.4
20163.8
16912.0
24701.5
Total Expenditure
a) (Increase) / Decrease in Finished Stock/WIP
126.2
1612.1
(144.2)
1219.4
1551.7
b) Consumption of materials
3285.4
3011.2
10836.5
8834.1
12439.7
c) Staff cost
114
123.8
369.2
411.3
513.6
d) Other expenditure
1428.8
1327.2
3923.2
4545.5
6495.8
Gross profit before interest, depreciation and taxation and amortisation (EBIDTA)
1262.3
937.1
5179.1
1901.7
3700.7
Interest and similar charges – Net
1254.5
1155
3258.6
3136.2
5880.9
Gross profit / (loss) before depreciation / amortisation and taxation
7.8
(217.9)
1920.5
(1234.5)
(2180.2)
Amortisation / Deferred Revenue expenses written off
139.8
81.5
405.5
245.3
328.9
Depreciation
930.7
861.1
2781.6
2475.8
3298.1
Write back of Depreciation of earlier years
(1213.5)
-
(1476.3)
-
-
Gross profit / (loss) before taxation
150.8
(1160.5)
209.7
(3955.6)
(5807.2)
Provision of taxation for earlier year
-
-
-
-
5.2
Net profit (loss)
150.8
(1160.5)
209.7
(3955.6)
(5812.4)
Paid-up equity share capital
3303.5
3303.5
3303.5
3303.5
3303.5
Reserves excluding revaluation reserves as at 31st March, 2000
10045.1
Basic and diluted EPS for the period, for the year to date and for the previous year (unannualised)
0.46
0.63
Notes:
The above results were taken on record at the meeting of Board of Directors held on 23rd January, 2001
Interest has been calculated on the basis of approval of the lead Institution for it's loans. Approval process by other participating Institutions is under progress.
The company has recomputed the depreciation under units of production method based on the technical review carried out and on an expert opinion of a reputed Chartered Accountant and necessary adjustment in depreciation has been made during the quarter under review for which Central Government approval is awaited.
Provision for taxes will be made after taking into consideration the results for the full financial year ending March 31, 2001
Figures have been regrouped wherever necessary to make them comparable.
CORPORATE
