Ispat Industries !

TOHIDE · #1 20th March 2008, 10:14 PM

Hello Traders,

Please feel free to leave your comments / views / advise on ISPAT IND here.

Thanks you.

Saint · #2 21st March 2008, 02:07 AM

Quote:

Originally Posted by TOHIDE

Hello Traders,

Please feel free to leave your comments / views / advise on ISPAT IND here.

Thanks you.

Already replied in Asish's thread........If trading,not yet!

Saint

TOHIDE · #3 24th March 2008, 06:34 PM

Mumbai, January 31, 2008

At a meeting held today, the Board of Directors of the company approved, in principle, hiving off of the company’s jetty facilities / operations to an independent entity, subject to all requisite consents / approvals and valuation reports of valuers appointed for the purpose. The captive Jetty at Dharamtar, near Dolvi has a handling capacity of 10 million tonnes per annum.

Ispat Industries Limited posted a profit before tax of Rs 36.78 crores for the 9-months period ended December 31, 2007, compared to a loss before tax of Rs 130.67 crores for the corresponding period last year. The company’s net loss for 9-months period ended December 31, 2007 was at Rs 14.09 crores as against a net loss of Rs 91.65 crores for corresponding period last year, after taking into account deferred tax charges and fringe benefit tax.

Ispat’s total income of Rs 6103.63 crores for 9-month period ended December 31, 2007 was higher by 11.9% compared to its income in same period last year, as per the company’s unaudited financial results announced today.

For the 3-months ended December 31, 2007, Ispat’s loss after tax was at Rs 36.00 crores against a net profit of Rs 17.52 crores in the corresponding period last year. Total income at Rs 2195.68 crores in 3-months period ended December 31, 2007 was higher by 16.8% compared to the same period last year.

High market price of metallurgical coke, iron ore and other inputs impacted the financial performance in the third quarter.

Issued By Corporate Communications Department.

TOHIDE · #4 31st March 2008, 09:39 PM

Ispat Inds looks at 10 mt steel capacity by 2014

Newswire18 / Kolkata March 30, 2008
Integrated private sector manufacturer Ispat Industries is planning to raise its steel capacity to 10 million tonne by 2013-14, MD Vinod Mittal said. Ispat currently produces 3.6 million tonne steel a year and it has announced its plans to take its capacity to five million tonne in the next two years.

“We have drawn up plans internally to raise our steel capacity to 10 million tonne, which we expect to meet by 2013-14,” Mittal said, on the sidelines of an extraordinary general meeting of the company today.

The company has signed a memorandum of understanding with the Jharkhand government for an integrated steel plant with a capacity of 2.8 million tonne.

“The 10 million tonne capacity will be achieved by increasing the capacity of our Dolvi plant to five million tonne and setting up a new plant in Jharkhand which will initially have a capacity of 2.8 million tonne, expandable to five million tonne later,” Mittal said.

Apart from the capacity hike, Ispat Industries’ expansion plan involves setting up a one-million-tonne coke oven plant in Dolvi, a 4.5-million-tonne pellet plant in Vishakhapatnam and enhancing the hot-rolled coil capacity of the Dolvi plant from three million tonne to 3.6 million tonne.

“We expect the project to get executed within the next two years,” Anil Sureka, CFO, said. Once the projects go on stream, the company’s EBITDA margins will double from 17 per cent now, Sureka said.

The work on the green-field project at Jharkhand will start once the company gets iron-ore mines there.

Price @ EOD 31st March 2008: 31.15