Unaudited Financial Report 31-03-2011
INDIA STEEL WORKS LIMITED
[ Formerly ISIBARS LIMITED ]
Regd. Office: India Steel Works Complaix, Zenith Compound, Khopoli, Raigad-410203, Maharashtra
Unaudited Financial Results for the quarter and Ninemonths ended 31st March, 2011
| Sr. No. | Particulars | Quarter ended (Unaudited) | Year ended (Unaudited) | Year Ended (Audited) | ||
| 31/Mar/2011 | 31/Mar/2010 | 31/Mar/2011 | 31/Mar/2010 | |||
| 1 | (a) | Net Sales/Income from Operations | 11,091.18 | 2,723.19 | 30,474.57 | 10,217.49 |
| (b) | Other Operating Income | 189.13 | 0.72 | 197.56 | 52.33 | |
| Total Income | 11,280.31 | 2,723.91 | 30,672.14 | 10,269.82 | ||
| 2 | Total Expenditure | |||||
| (a) | (Increase)/Decrease in stock-in-trade and work in progress | (1,543.82) | (76.99) | (2,136.34) | (503.48) | |
| (b) | Consumption of raw materials | 9,996.33 | 1,974.44 | 22,770.71 | 6,387.08 | |
| © | Purchase of Traded Goods | 344.10 | - | 2,014.89 | - | |
| (d) | Power & Fuel | 1,323.09 | 616.08 | 4,317.03 | 2,923.42 | |
| (e) | Employees Cost | 200.77 | 202.89 | 942.38 | 813.06 | |
| (f) | Depreciation | 339.66 | 336.30 | 1,346.41 | 1,359.97 | |
| (g) | Other Expenditure | 348.87 | 317.47 | 1,763.81 | 1,101.32 | |
| Total Expenditure | 11,008.99 | 3,370.20 | 31,018.90 | 12,081.37 | ||
| 3 | Profit from Operations before Other Income,Interest and exceptional items | 271.32 | (646.28) | (346.76) | (1,811.54) | |
| 4 | Other Income | - | ||||
| 5 | Profit before Interest and exceptional items | 271.32 | (646.28) | (346.76) | (1,811.54) | |
| 6 | Interest | 244.72 | 540.66 | 681.22 | 623.62 | |
| 7 | Profit after Interest but before exceptional items | 26.60 | (1,186.95) | (1,027.97) | (2,435.16) | |
| 8 | Exceptional Items | - | 0.00 | 613.81 | ||
| 9 | Profit/(Loss) from Ordinary Activities before tax | 26.60 | (1,186.95) | (1,027.97) | (1,821.36) | |
| 10 | Tax Expense | - | ||||
| Current | - | (0.40) | ||||
| Deferred | - | |||||
| FBT | - | 0.16 | - | - | ||
| 11 | Net Profit/(Loss) from Ordinary Activities after tax | 26.60 | (1,186.78) | (1,027.97) | (1,821.76) | |
| 12 | Extra-ordinary items (net of tax expense Rs. /-) | (147.11) | (11.95) | (152.20) | (2.21) | |
| 13 | Net Profit/(Loss) for the period | (120.51) | (1,198.74) | (1,180.17) | (1,823.97) | |
| 14 | Paid-up Equity Share Capital[face value of Rs.1/- per share - | 2,341 | 2,043 | 2,341 | 2,043 | |
| 15 | Reserves excluding Revaluation Reserves as per Balance Sheet of previous accounting year | 13,795 | ||||
| 16 | (a) | Earnings Per Share (EPS)Basic & Diluted EPS before extraordinary items*Not Annualised (Rs.) | 0.01 | (0.58) | (0.44) | (0.89) |
| (b) | Earnings Per Share (EPS)Basic & Diluted EPS after extraordinary items *Not Annualised (Rs.) | (0.05) | (0.59) | (0.50) | (0.89) | |
| 17 | Public Shareholding | |||||
| Number of shares | 122589265 | 91756040 | 122589265 | 91756040 | ||
| Percentage of shareholding | 52.37% | 44.92% | 52.37% | 44.92% | ||
| 18 | Promoters and promoters group shareholding | |||||
| a) Pledged /Encumbered | ||||||
| - Number of shares | 90786700 | 90786700 | 90786700 | 90786700 | ||
| - Percentageof shares (as a % of total shareholding of promoter and promoter group) | 81.43% | 80.69% | 81.43% | 80.69% | ||
| Percentage of shares(as a % of total share capital of the Company) | 38.78% | 44.44% | 38.78% | 44.44% | ||
| b) Non-encumbered | ||||||
| - Number of shares | 20704960 | 21727260 | 20704960 | 21727260 | ||
| - Percentageof shares (as a % of total shareholding of promoter and promoter group) | 18.57% | 19.31% | 18.57% | 19.31% | ||
| Percentage of shares(as a % of total share capital of the Company) | 8.85% | 10.64% | 8.85% | 10.64% | ||
- The above results were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on 14th February 2011
- The Company is exclusively in the Steel Business Segment and as such there are no reportable segments as defined by AS-17 on segment reporting, as issued by the Institute of Chartered Accountants of India [ICAI]
- Number of Investor Complaints pending as on 31st December 2010 (i) Pending at beginning of Quarter : NIL ; ii) Received during the Quarter: 5 ; iii) Disposed off during the Quarter: ; 5 (iv) Lying unresolved as on 31st December, 2010: NIL.
- Figures for the previous accounting period have been regrouped wherever necessary.
| STATEMENT OF ASSETS & LIABILITIES AS AT 31ST MARCH 2011 | |
| [Rs. in lacs] | |
| 31/Mar/11 | |
| Unaudited | |
| SOURCES OF FUNDS | |
| SHAREHOLDERS FUNDS : | |
| Share Capital | 8539 |
| Reserves & Surplus | 15668 |
| LOAN FUNDS : | |
| Secured Loans | 6375 |
| Unsecured Loans | 6282 |
| TOTAL | 36864 |
| APPLICATION OF FUNDS : | |
| FIXED ASSETS: | 16853 |
| INVESTMENTS: | 4 |
| CURRENT ASSETS LOANS & ADVANCES | |
| Inventories | 8601 |
| Sundry Debtors | 5051 |
| Incentives Receivable | 21 |
| Cash & Bank Balances | 657 |
| Loans & Advances | 4719 |
| LESS:CURRENT LIABILITIES & PROVISIONS | 15778 |
| Net Current Assets | 3273 |
| MISCELLANEOUS EXPENDITURE | 227 |
| PROFIT & LOSS A/C | 16508 |
| TOTAL | 36864 |
For INDIA STEEL WORKS LIMITED
Date: |
14th February,2011. |
Sd/- |
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Place: |
Mumbai. |
Managing Director |
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