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

SESAGOA-CONSOL	Q3FY12	Q2FY12	%dif1	Q1FY12	%DIF2	Q3FY12	%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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