Sterlite Industries (India) trades higher on the bourses

08 Jun 2012 Evaluate

Sterlite Industries (India) is currently trading at Rs. 100.05, up by 2.85 points or 2.93% from its previous closing of Rs. 97.20 on the BSE.

The scrip opened at Rs. 96.50 and has touched a high and low of Rs. 102.00 and Rs. 96.00 respectively. So far 12, 06,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 176.45 on 26-Jul-2011 and a 52 week low of Rs. 86.10 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 102.00 and Rs. 88.60 respectively. The current market cap of the company is Rs. 33,623 crore.

The promoters holding in the company stood at 53.31% while Institutions and Non-Institutions held 21.39% and 12.85% respectively.

Sterlite Industries’ mined Zinc-Lead metal production stood at 223,000 tonnes in Q4, 7% higher than Q3. During the quarter, the Sindesar Khurd (SK) mine ramped up to contribute a record 24,000 tonnes metal-in concentrate.

For the full year, mined Zinc-Lead metal production was marginally lower at 830,000 tonnes. Mined Zinc-Lead metal production in FY 2012-13 is expected to be slightly higher than FY 2011- 12. In line with the mine plan for Rampura Agucha, production in first half of FY 2012-13 is expected to be marginally lower than corresponding period in FY 2011-12, but will be more than made up in second half of FY 2012-13. SK mine ramped-up to 80% utilization in Q4 and will deliver volumes near its capacity in FY 2012-13.

The company’s Refined Zinc production marginally lowers at 190,000 tonnes in Q4, and 6% higher at 759,000 tonnes for the year. Lead production in Q4 was 110% higher at a record 37,000 tonnes primarily due to the ramp-up of the new 100 ktpa Dariba Lead smelter, which contributed 18,000 tonnes.

With the Rajasthan smelters fully ramped-up and operating at high efficiencies, during the quarter it was decided to ramp down the 35-year old Vizag Zinc smelter, which had a relatively higher cost and contributed 28,000 tonnes of refined Zinc production during the full year.

Silver production was at a record 88 tonnes in Q4, 77% higher as a result of ramp-ups of the SK mine, the new 100 ktpa Dariba Lead smelter and the new Silver refinery. Silver production for the full year was 35% higher at 242 tonnes.

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