Sterlite Industries inches up on reporting 16% growth in Mined metal production in Q4FY13

Sterlite Industries is currently trading at Rs. 88.00, up by 0.05 points or 0.06 % from its previous closing of Rs. 87.95 on the BSE.

The scrip opened at Rs. 89.45 and has touched a high and low of Rs. 89.80 and Rs. 87.65 respectively. So far 1, 68,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 123.35 on 03-Jan-2013 and a 52 week low of Rs. 85.25 on 10-Apr-2013.

Last one week high and low of the scrip stood at Rs. 90.40 and Rs. 85.25 respectively. The current market cap of the company is Rs. 29,574 crore.

The promoters holding in the company stood at 53.31% while Institutions and Non-Institutions held 23.47% and 10.08% respectively.

Sterlite Industries (India) has registered 16% growth in Mined metal production at 260,000 tonnes in Q4FY13 as compared to corresponding prior period, which is in line with the annual mine plan. Full year production was 870,000 tonnes, 5% higher than the previous year.

The integrated production of refined zinc stood at 181,000 tonnes in Q4, 8% higher than Q3. Full year production was 660,000 tonnes, in line with the annual plan. Sales of zinc metal-in-concentrate (MIC) were 61,000 tonnes, due to surplus concentrate in Q4. Integrated production of refined lead was 32,000 tonnes in Q4 and 107,000 tonnes for the full year, up 2% and 20% respectively while, integrated production of silver was a record 100,000 tonnes in Q4 and 322,000 tonnes for the full year, up 20% and 36%, respectively, driven by the continued ramp-up of the SK mine and the Dariba lead smelter.

Meanwhile, the company’s Copper cathode production stood at 86,000 tonnes in Q4, 7% higher than the corresponding prior period, and 8% higher at 353,000 tonnes in FY2013. Mined metal production at Australia was 28% higher at 7,000 tonnes in Q4 and 15% higher at 26,000 tonnes for the full year.

Further, the company’s Aluminium production at 245 ktpa Korba-II smelter was 62,000 tonnes, in line with the corresponding prior quarter. The smelter operated above its rated capacity for the full year while, the company’s Power sales were 12% higher at 2,433 million units in Q4 and 22% higher at 9,282 million units for the full year, as compared with the corresponding prior periods. The increase in Q4 was primarily due to higher power generation and sales from three units of the Jharsuguda 2,400MW power plant.