The result was announced after market hours on Monday, 29 April 2013.
Meanwhile, the BSE Sensex was up 181.50 points, or 0.94%, to 19,569.
On BSE, 2.93 lakh shares were traded in the counter as against an average daily volume of 5.68 lakh shares in the past one quarter.
The stock hit a high of Rs 95.60 and a low of Rs 93.90 so far during the day. The stock had hit a 52-week high of Rs 123.35 on 3 January 2013. The stock had hit a 52-week low of Rs 83.15 on 16 April 2013.
The stock had underperformed the market over the past one month till 29 April 2013, falling 2.19% compared with the Sensex's 2.93% rise. The scrip had also underperformed the market in past one quarter, sliding 18.98% as against Sensex's 3.02% fall.
The large-cap company has an equity capital of Rs 336.12 crore. Face value per share is Re 1.
Sterlite Industries (India)'s attributable profit after tax (PAT) after exceptional item rose 26% to Rs 6,060 crore on 10% increase in net sales to Rs 44922 crore in the year ended March 2013 over the year ended March 2012.
The company reported an exceptional loss of Rs 118 crore for Q4 March 2013 and year ended 31 March 2013. In the Special Leave Petition (SLP) filed by the company against the closure order of Tuticorin copper smelter, the Supreme Court vide its judgment dated 2 April 2013, has set aside the order of the Madras High Court. The Supreme Court has also directed the company to deposit Rs 100 crore within three months with the District Collector Tuticorin for improvement of air and water environment quality in the vicinity of the plant. This amount has been recognized in the statement of profit and loss as an exceptional item for the quarter and year ended 31 March 2013.
Exceptional items also includes Rs 17.53 crore incurred under voluntary retirement scheme at a subsidiary engaged in Zinc, lead & silver operations for the quarter and year ended 31 March 2013.
Mr. Anil Agarwal, Chairman said, "We achieved a strong operating and financial performance in FY2013. With production growth across our portfolio of world class assets, we recorded a net profit of Rs 6,060 crore in FY2013 and the Board has declared total interim dividend of Rs. 2.30 per share for FY2013."
Revenues for Q4 March 2013 (Q4) and the year ended March 2013 (FY2013) were Rs 12609 crore and Rs 44922 crore, an increase of 17% and 10% respectively. The increase in revenue was driven by higher volumes and depreciation of the Indian Rupee, which more than offset lower metal prices. During Q4 and full year, the company delivered higher refined silver, lead, Copper, Aluminium and Power and higher mined metal production at Zinc India, Sterlite Industries (India) said in a statement.
The company added that earnings before interest taxes depreciation and amortization (EBITDA) in FY2013 was up 2% at Rs 10574 crore and in Q4 was up 23% at Rs 3323 crore, on account of higher production, higher metal premiums and lower costs which more than offset lower metal prices during the year.
Interest cost in Q4 and FY2013 was higher as compared to the corresponding prior periods due to capitalisation of new plants. Depreciation in Q4 was lower due to one-off depreciation reversal at Zinc India. Depreciation cost for FY2013 was higher on account of capitalization of new plants at Zinc India and Sterlite Energy (SEL).
During the year there was gain on account of foreign exchange movement as compared to the previous year, largely on account of foreign exchange hedge contract towards investments made in overseas subsidiaries, as designated contracts, resulting into transfer of foreign exchange movement to reserves, in accordance with AS 30.
During Q4 and FY2013, attributable PAT and basic earning per share (EPS) were significantly higher by 51% and 26% respectively, over the corresponding prior periods on account of higher EBITDA, higher investment income, lower foreign exchange losses and lower tax rate.
The board has declared a second interim dividend of Rs 1.20 per share. The total interim dividend for FY2013 is Rs 2.30 per share and no final dividend is proposed to be declared. The total dividend outgo will be Rs 773 crore as against Rs. 686 crore during the previous year, Sterlite Industries (India) said in a statement.
As at 31 March 2013, the company has consolidated cash, cash equivalents and liquid investments of Rs 24847 crore, out of which Rs 12790 crore was invested in debt mutual funds, Rs 2151 crore in bonds and Rs 9906 crore in bank deposits. The company continues to follow a conservative investment policy and invests in high quality debt instruments with the mutual funds, bonds and fixed deposits with banks.
Sterlite Industries (India) is India's largest diversified metals and mining company. The company produces aluminium, copper, zinc, lead, silver, and commercial energy. Sterlite Industries has a portfolio of world class assets in India, Australia, Namibia, South Africa and Ireland. Sterlite Industries is listed on the Bombay Stock Exchange and National Stock Exchange in India and the New York Stock Exchange in the United States.
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