Hindustan Zinc Limited - QTRLY RESULTS - 3RD QTR ENDING DEC,2011 =Q/E DEC 2011 - Net Sales up 6%Yoy;NPT down 1.24%

Hindustan Zinc Limited

NSE Symbol        HINDZINC

HINDUSTAN ZINC  has declared lack luster Results in the third quarter ending Dec, 2011.

Net Sales stands at Rs.2746.77 Cr – up by   5.91% from Q2 FY 12 and   up by 5.59% from Q3 FY 11.

Total Expenditure stands at Rs.1543.60 Cr  in Q3 FY 12  – up by  17.16% from Q2 FY 12; and up by 24.24% from Q3 FY 11. Expenditure has grown more than proportionately compared to Net Sales – especially raw material consumption which has grown by 24.38% from Q2 FY 12 and by 40% from Q3 FY 11.

Profit from Operations in Q3 FY 12 stands at Rs.1243.21mcr – down by  -5.77% from Q2 FY 12; down by -10.41% from Q3 FY 11.

Other Income stands at Rs.381.87 cr  in Q3 FY 12  – down by      -1.27% from Q2 FY 12; but up by  84.39% from Q3 FY 11.

Profit  before tax stands at Rs.1609.94 cr  in Q3 FY 12 – down by  -3.61% from Q2 FY 12; and marginally up by  0.96% from Q3 FY 11.

Tax expense stands at Rs.336.34 cr in Q3 FY 12 – up by 3.34% from Q2 FY 12 and up by 10.23% from Q3 FY 11.

Net Profit  stands at Rs.1273.60 cr  in Q3 FY 12 – compared to Rs.1344.69 cr in Q2 FY 12 (down by -5.29%); and Rs.1289.58 cr in Q3 FY 11 (down by -1.24%)

Basic EPS on a Face Value of Rs.2  stands at Rs.3.01 in Q3 FY 12; Rs.3.18 in Q2 FY 12;  Rs.3.54 in Q1 FY 12;Rs.4.19 in Q 4 FY 11;  and in Q3 FY11, on a FV of Rs.10, the EPS stands at Rs.30.52 (Or, Rs.6.09 on Rs.2).

Thus, there is a clear limb down from earlier quarters, both  QoQ and YoY.

Current MP is Rs.127.45 – while the  52 week high price is Rs.1387.90 (On FV  of Rs.10) and the 52 week low price  is Rs.106.45.

The annual EPS is likely to be around Rs.12.74.

The PE Ratio works out to 10.

Stand alone results Table

hindustan zinc	31-Dec-11	30-Sep-11	%DIF1	30-Jun-11	31-Mar-11	31-Dec-10	%DIF2
Net Sales	274677	259349	5.91	282135	319702	260147	5.59
Other Oprtng Income	4004	4333	-7.59	2572	4029	2869	39.56
Increase in SIT/WIP	1313	-4523	-129	11047	12	-4678	-128.07
Raw Materials	70342	56371	24.78	55310	55656	51677	36.12
Employees Cost	13371	12904	3.62	12741	13409	11298	18.35
Depreciation	15907	14552	9.31	13453	12709	11954	33.07
Other Expenditure	53427	52450	1.86	46379	57804	53994	-1.05
Total Expenditure	154360	131754	17.16	138930	139590	124245	24.24
Profit from Operations	124321	131928	-5.77	145777	184141	138771	-10.41
Other Income	38187	38678	-1.27	35536	30248	20710	84.39
Interest	871	1203	-27.6	649	1325	11	7818.18
Exceptional Items	643	2386	-73.05	442	-	-
Profit  before tax	160994	167017	-3.61	180222	213064	159470	0.96
Tax expense	33634	32548	3.34	30731	35937	30512	10.23
Net Profit	127360	134469	-5.29	149491	177127	128958	-1.24
Face Value (In Rs	2	2	0	2	2	10	-80
Paid Up Equity	84506	84506	0	84506	84506	42253	100
Basic EPS	3.01	3.18	-5.35	3.54	4.19	30.52	-90.14
Public Holding (%)	35.08	35.08	0	0	35.08	35.08	0

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