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Sterlite Industries
Sterlite Industries reported robust set of numbers for 1QFY2012, marginally below our
estimates. Net sales increased by 65.8% yoy to `9,824cr, slightly below our estimate
of `10,200cr. Net sales growth was driven by higher zinc sales volumes as well as higher
realisations of zinc, lead, copper and aluminium. Revenue of the copper, aluminium, zinc
and power segments grew by 55.0%, 13.6%, 99.4% and 138% yoy, respectively. EBIT of
the copper, aluminium and zinc segments grew by 55.0%, 221.0% and 100.3% yoy,
respectively. However, the power segment’s EBIT declined by 26.3% yoy mainly due to
shortage of low-cost coal. Adjusted net profit increased by 63.0% yoy to `1,643cr, slightly
below our estimate of `1,700cr. We maintain our Buy view on the stock, while we keep
our target price under review.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Sterlite Industries
Sterlite Industries reported robust set of numbers for 1QFY2012, marginally below our
estimates. Net sales increased by 65.8% yoy to `9,824cr, slightly below our estimate
of `10,200cr. Net sales growth was driven by higher zinc sales volumes as well as higher
realisations of zinc, lead, copper and aluminium. Revenue of the copper, aluminium, zinc
and power segments grew by 55.0%, 13.6%, 99.4% and 138% yoy, respectively. EBIT of
the copper, aluminium and zinc segments grew by 55.0%, 221.0% and 100.3% yoy,
respectively. However, the power segment’s EBIT declined by 26.3% yoy mainly due to
shortage of low-cost coal. Adjusted net profit increased by 63.0% yoy to `1,643cr, slightly
below our estimate of `1,700cr. We maintain our Buy view on the stock, while we keep
our target price under review.
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