Sesa Goa Ltd (Q1 FY14)

India Infoline News Service | Mumbai |

Sesa Goa’s revenue continued to remain below par due to the mining ban implemented in Karnataka and Goa.

CMP Rs125, Target Rs153, Upside 22.7%
  • Iron ore operations in Goa and Karnataka remained inoperative

  • Sesa Goa is awaiting forest clearance for its Karnataka mines, expects the mine to start in Q2 FY14

  • Production of pig iron and met coke improved on a qoq basis

  • Management expects first shipment from Liberia to start by March ‘14

  • Restart of Goa mines to take time; the Supreme Court has not yet fixed hearing dates on Goa illegal mining matter

Result table

(Rs mn)
Q1 FY14
Q1 FY13
% yoy
Q4 FY13
% qoq
Net sales
3,780
17,326
(78.2)
2,909
29.9
Raw material purchases and stores
(3,062)
(2,933)
4.4
(2,636)
16.2
Transportations costs
(379)
(1,730)
(78.1)
(202)
87.7
Export duty
-
(4,338)
-
3
-
Personnel costs
(526)
(693)
(24.1)
(599)
(12.2)
Other overheads
(241)
(870)
(72.3)
(434)
(44.6)
Operating profit
(428)
6,762
-
(959)
(55.4)
OPM (%)
(11.3)
39.0
-
(33.0)
-
Depreciation
(391)
(303)
29.1
(984)
(60.3)
Interest
(1,481)
(1,178)
25.7
(1,378)
7.4
Other income
58
151
(61.6)
91
(36.7)
PBT
(2,242)
5,432
-
(3,230)
(30.6)
Tax
1,123
(922)
-
895
25.4
Effective tax rate (%)
50.1
17.0

27.7

Other prov/minority etc
6,255
7,652
(18)
5,127
22
Adjusted PAT
5,135
12,161
(57.8)
2,792
83.9
Adj. PAT margin (%)
135.9
BSE 297.05 12.40 (4.36%)
NSE 297.00 12.45 (4.38%)

***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.