Thursday, February 17, 2011

PSL LIMITED = Q3 FY 2011 = RESULTS = FOR QTR ENDING DECEMBER 2010 =



PSL Limited
NSE Symbol   PSL

PSL LIMITED has released its stand Alone and consolidated results for quarter ending December,2010 (Q3 FY 2011).

STAND ALONE RESULTS

Net Sales is Rs.756 cr – up by 13.81% from Q2 FY 11 and up by 6.28% from Q3 FY 10.

Total Expenditure is Rs. 703 cr – up by 9.07% from Q2 FY11 and up by 6.63% from Q3 FY 10.

Profit from Operations is Rs.62 cr – up by 7.49% from Q2 FY 11 and up by 0.79% from Q3 FY 10.

Net Profit is Rs.20 cr – up by 9.14% from Q2 FY 11 and up by 0.2% from Q3 FY 10.

Basic EPS     is Rs.3.82 compared to Rs.3.82 in Q2 FY 11 and Rs.4.29 in Q3 FY 10.

STAND ALONE
RESULTS TABLE:

PSL STAND ALONE
31-Dec-10
30-Sep-10
31-Dec-09
Net Sales
75647
66467
71176
DIF%1
756
13.81
6.28
Other Oprtg Income
860
3762
910
Incr./decr. in SIT / WIP
-12064
-21015
6465
 Raw Materials
68303
66769
49896
Employees Cost
1533
1913
1264
Depreciation
3027
2457
1808
Other Expenditure
9479
14310
6473
Total Expenditure
70278
64434
65906
DIF %2
703
9.07
6.63
Profit from Operations
6229
5795
6180
DIF %3
62
7.49
0.79
Interest6
3520
3313
3180
Profit  before tax
2709
2482
3000
Tax expense
668
612
963
Net Profit
2041
1870
2037
DIF %4
20
9.14
0.2
Face Value (In Rs
10
10
10
Paid Up Equity
5333
5333
5237
Basic EPS
3.82
3.82
4.29
Diluted EPS
3.78
3.77
4.24
Public holding (%)
60.75
60.75
60.75


CONSOLIDATED RESULTS

NET SALES is  Rs.774 cr – up by 4.16% from Q2 FY 11 ; down by 10.99% from Q1 FY 11; It is also less on annualized basis (q3 x 4) by 21.47% from FY 2010 and less by 13.06% from FY 2009.

TOTAL EXPENDITURE  is  Rs.722 cr – down by 0.17% from Q2 FY11 ; down by 11.67% from Q1 FY11; and on annualized basis, less by 22.41% from FY 2010 and less by 15.3% from FY 2009.

Profit from Operations is Rs.62 cr, up by 6.33% from Q2 FY 11; up by 2.13% from Q1 FY 11; but, on annualized basis, it is less by 9.37% from FY 2010 ; but up by 2.73% from FY 2009.

CONSOLIDATED NET PROFIT  is Rs.16 cr – up by 13.41% from Q2 FY11; but less by 23.44% from Q1 FY 11; and on annualized basis, it is less by 48.45% from FY 2010; and less by 33.33% from FY 2009.

Basic EPS  is Rs.2.96 for Q3 FY11 – compared to Rs.2.85 for Q2 FY 11; Rs.3.86 for Q1 FY11; Rs.25.04 for the whole of FY 2010 and Rs.22.21 for the whole of FY 2009.

CONSOLIDATED RESULTS TABLE :

DEC '10
Net Sales
77374
74285
86927
394106
355993
DIF %1
774
4.16
-10.99
-21.47
-13.06
Other Oprtg Income
979
3825
833
5250
8898
Incr./Decr. in SIT / WIP
-11957
-20222
-19291
-2931
-35590
Raw Materials
65815
71129
80226
317954
292825
Employees Cost
3090
2284
4028
6914
6686
Depreciation
4204
3461
3661
8160
6877
Other Expenditure
11004
15630
13068
41909
69964
Total Expenditure
72156
72282
81692
372006
340762
DIF %2
722
-0.17
-11.67
-22.41
-15.3
Profit from Operations
6197
5828
6068
27350
24129
DIF %3
62
6.33
2.13
-9.37
2.73
Profit B I  & EI
6197
5828
6068
27350
24129
Interest
3835
3714
3449
11693
10275
Profit A I BB EI
2362
2114
2619
15657
13854
Profit before tax
2362
2114
2619
15657
13854
Tax Expense
781
720
554
3390
4369
Net Profit after tax
1581
1394
2065
12267
9485
Net Profit
1581
1394
2065
12267
9485
Consolidated Net Profit
1581
1394
2065
12267
9485
DIF %4
16
13.41
-23.44
-48.45
-33.33
Face Value (in Rs.)
10
10
10
10
10
Paid-up Equity
5333
5333
5333
5333
4258
Reserves
-
-
-
92059
64795
Basic EPS before EI.
2.96
2.85
3.86
25.04
22.21
Diluted EPS before EI
2.93
2.81
3.82
24.75
21.91
Basic EPS after EI
2.96
2.85
3.86
25.04
22.21
Diluted EPS after EI
2.93
2.81
3.82
24.75
21.91
Public holding
-
-
32478001
-
-
Public holding (%)
-
-
60.75
-
-

ANNOUNCEMENTS
TO THE EXCHANGE

15-02-2011    Psl Limited has informed the Exchange that Interim Dividend of Rs. 2/- per share declared on February 14, 2011 would be payable from March 10, 2011.     -

15-02-2011    Psl Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on February 14, 2011 has considered and accorded its in-principle consent to raise long term funds for the Company up to Rs.250 Crores. The Boards of Directors has also constituted a High Powered Committee and empowered it to take all the relevant decisions regarding various modalities of raising of such funds in one or more tranches by way of issuance of such securities which are then decided by them by way of Qualified Institutional Placement (QIP).    -

15-02-2011    Psl Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on February 14, 2011, inter alia, has decided to declare an Interim Dividend of Rs. 2/- per share on the fully paid up equity shares of Rs. 10/- each.

03-09-2010    News Verification : The media had reports on September 2,2010 that PSL Limited has bagged a Rs. 1133 crore pipeline order from GAIL. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. " The Company has not released any Press statement or interviewed with any Media regarding order placements. An order has been received from GAIL on 26.08.10 for supply of steel pipes conforming to API X-70 amounting to USD 1,96,28,584.84. Corresponding order received for coating and dumpsite delivering of steel pipes amounting to Rs.28,39,21,382.50."

ABOUT THE COMPANY : (What the company says)

With a production capacity in excess of the 1 million ton mark, PSL claims to be -  India’s largest producer/manufacturer of HSAW pipes - the line-pipe industry's preferred pipe. Its leadership in the pipe industry is not confined to the domestic market alone, though the market is huge and still growing - global recognition is reflected in the huge orders already in hand from the US even before the commissioning of its 300,000 MT capacity plant in Missisipi not to mention the USD 45 million order of our pipe mills in Sharjah in the UAE.

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