Friday, January 27, 2012

SESA GOA LTD - QTRLY RESULTS - Q3 FY 2012 - 3rD Q/E DEC,2011 - NET SALES UP 232% QoQ & NPT rS.56 CR - SIGNIFICANT UPTREND OVER PREV.QTR


Sesa Goa Limited
NSE Symbol           SESAGOA

Sesa Goa Limited is India's largest producer and exporter of iron ore in the private sector and is on course to be in the league of top four iron ore producing companies in the World. Apart from Iron ore it also produces pig iron and metallurgical coke.

SESA GOA has significantly improved its CONSOLIDATED results in Q3 FY 12  over Q2 FY 12 – even though it still falls short of earlier quarters.

Net Sales has increased significantly in Q3 FY 12 to Rs.2604.28 cr – by  232.12% compared to Q2 FY 12;-but only by 24.32% compared to Q1 FY 12 and by 4.76% compared to Q3 FY 11. The last were Normal quarters while there was a significant downturn in Sales operations in Q2 FY 12.

Raw Materials consumption was Rs.275.15 cr – up by 23.59% from Q2 FY 12; up by 45.84% from Q1 FY 12 and up by 75.43% from Q3 FY 11

Other Expenditure stands at Rs.1152.96 cr – up by 104.45% from Q2 FY 12; up by 39.11% from Q1 FY 12; and up by  15.15% from Q3 FY 11. For Sesa Goa, other expenditure is more significant than Raw material consumption in over all expenditure.

Total Expenditure stands at Rs.1736.16 cr in Q3 FY 12 -  up by 120.29% from Q2 FY 12;  up by 75.38% from Q1 FY 12; and up by  34.95% from Q3 FY 11. Total expenditure has increased more than  proportionately compared to Net sales – in Q1 FY 12 and Q3FY11.

Profit from Operations stands at Rs.880.92 cr – up by 160% from Q2 FY 12; down by   -21.27% from Q1 FY 12; and down by  -27.33% from Q3 FY 11.

Other Income is meager in  this qtr.

Interest expense stands at Rs.72.98 cr -  an increase of        41.41% over Q2 FY 12;  48.06% over Q1 FY 12 and a huge increase of 445.03% over Q3 FY 11.

Profit before tax stands at Rs.825.95 Cr.The profits in Q2 FY 12 were almost NIL.  But compared to Q1 FY12, the PBT is down by  -32.39% from Q1 FY 12 and down by        -37.69% from Q3 FY 11.

Tax Expense is Rs.256.36 cr- negligible in Q2 FY 12; Rs.381.13 Cr In Q1 FY 12 (down by -32.74%) and Rs.257.25 Cr in Q3 FY 11(down by -0.35%).

Net Profit  stands at Rs.569.59 cr against a meager Rs.1.28 cr in Q2 FY 12; against Rs.840.59 cr in Q1 FY 12 (down by -32.24%) and Rs.1068.29 Cr (down by -46.68%).

Shares of Associates stands at Rs(-)121.93 cr in Q3 FY 12 against NIL in earlier Qtrs.

Including this, the Consolidated NPT therefore stands at Rs.691.52 cr in Q3 FY 12, up 128% from Q2 FY 12 (which any way is not comparable); against Rs.840.59 cr in Q1 FY 12 (down by -17.73%); and Rs.1068.29 Cr (down by -35.27%)

Basic EPS on a Face Value of Rs.1 stands at a respectable Rs.7.96 in Q3 FY 12, against a mere Rs.0.01 in Q2 FY 12; Rs.9.67 in Q1 FY 12; and Rs.12.41 in Q3 FY 11. Thus, Sesa Goa has brought back its operations in current quarter up by a good level. At this Rate, the annual EPS may be around Rs.25.6.

The current Market price of its Rs.1 share is Rs.215.70; while the 52 week high price  is Rs.343.90 and the 52 week low price  is Rs.148.30.

The Price earnings Ratio works out to 8.43.

ANNOUNCEMENTS BY SESA GOA

25-01-2012          Sesa Goa has declared Interim Dividend for the Financial Year 2011-2012 @ Rs. 2/- per share on face value of Re. 1/- and the Interim Dividend shall be paid / despatched on or before the due date, i.e. February 23, 2012.

07-12-2011          Sesa Goa Limited acquired 243,07,241 equity shares and its Subsidiary Sesa Resources Limited acquired 45,00,000 equity shares of Cairn India Limited ("CIL") aggregating to approximately 1.5% of the total paid up share capital of CIL from Cairn UK Holdings Limited at an average price of Rs. 325 per share through a block deal on the Bombay Stock Exchange. With this acquisition Sesa Goa Limited along with its subsidiary, Sesa Resources Limited hold 20% of the share capital of Cairn India Limited.

16-11-2011          Sesa Goa Limited Ranked Among the Top Companies in Carbon Disclosure Leadership Index in India

03-11-2011          Sesa Goa Limited Agrees to acquire Goa Energy Private Limited.:High lights are :- Sesa Goa to acquire the 100% equity stake in Goa Energy Private Limited (“GEPL”) for  Rs.53.72 crores. And  Goa Energy Private Limited owns a 30 MW waste heat recovery power plant in Goa

RESULTS TABLE

Q3FY12
%dif1
%DIF2
%DIF3
Net Sales
260428
78,414.00
232.12
209,474.00
24.32
248,599.00
4.76
Other Oprting Income
1280
560
128.57
1,413.00
-9.41
1,273.00
0.55
Increase in SIT/WIP
21791
-8,524.00
-355.64
-10,899.00
-299.94
5,810.00
275.06
Raw Materials
27515
22,263.00
23.59
18,866.00
45.84
15,684.00
75.43
Employees Cost
6380
6,250.00
2.08
5,453.00
17.00
4,957.00
28.71
Depreciation
2634
2,431.00
8.35
2,690.00
-2.08
2,076.00
26.88
Other Expenditure
115296
56,394.00
104.45
82,884.00
39.11
100,128.00
15.15
Total Expenditure
173616
78,814.00
120.29
98,994.00
75.38
128,655.00
34.95
Profit from Operations
88092
160
54,957.50
111,893.00
-21.27
121,217.00
-27.33
Other Income
1801
5,038.00
-64.25
15,208.00
-88.16
12,676.00
-85.79
Profit before Intt & EI
89893
5,198.00
1,629.38
127,101.00
-29.27
133,893.00
-32.86
Interest
7298
5,161.00
41.41
4,929.00
48.06
1,339.00
445.03
Profit before tax
82595
37
223,129.73
122,172.00
-32.39
132,554.00
-37.69
Tax Expense
25636
-91
-28,271.43
38,113.00
-32.74
25,725.00
-0.35
Net Profit
56959
128
44,399.22
84,059.00
-32.24
106,829.00
-46.68
Shares of Associates
-12193
-

-

-

Consolidated NPT
69152
128
53,925.00
84,059.00
-17.73
106,829.00
-35.27
Face Value (in Rs.)
1
1
0.00
1
0.00
1
0
Paid-up Equity
8691
8,691.00
0.00
8,691.00
0.00
8,597.00
1.09
Basic EPS (Rs.)
7.96
0.01
79,500.00
9.67
-17.68
12.41
-35.86
Public holding (%)
44.87
44.87
0.00
44.87
0.00
44.27
1.36

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