Sterlite Industries has announced its second quarter FY10 results. Its net profit went down to Rs 959 crore as against Rs 1,277 crore, on year-on-year basis (YoY).

Key Takeaways from Sterlite Industries concall:

Sterlite Industries Q2 net profit went down to Rs 959 crore as against Rs 1,277 crore, on year-on-year basis (YoY).

Net sales declined to Rs 6,085 crore from Rs 6,594 crore (YoY).

Bottomline and topline numbers were above the street estimates. CNBC-TV18 was expecting net profit at Rs 791 crore and net sales at Rs 5,572 crore.

To meet 10% Of World's custom smelting capcity FM Tuticorin

Continue to see average demand growth of 15-20%

Have 2,200 MW of energy,most of which is captive

Co & subsidiaries have cash of $5.6 billion

Plan to produce 7-8% Of world's aluminium, zinc

Expect final ruling on Asarco deal by last quarter Of 2009

Expect metal  prices to be at current level

Capex already deployed  in sterlite energy Rs 3400 cr ; total  investment is $2 bn   ; fresh  loans will be taken for additional amunt

Tasmania mines not very significant, have permit to extend mine life. This property gives an EBIDTA potential of  $100 mn .

Non operational costs of Baloc I is being added to Balco II as well

Asarco would never supply copper concentrate in India

Most ideallt placed to do custom smelting in the world

Sees logic for copper concentrates to come to India , because of low cost profile that India offers

Will look at some good opportunity, will look at opportunities where de-bottlenecting is possible

Bauxite issue at neegiri is in last stages of final clearance

Cash Deployment: $ 2 bn –  for 2 call option in Balco and HZL , copper expansion $500 mn

Debt : Total :  Rs 7500 Cr ( includes working capital loans also )

3000 crore Sterlite

2000 BALCO

2400 in Strelite Energy  

HZL is debt free co
 
Cash :  Rs  1000 crore in BAlCO

Second coal linkages to be through in couple of weeks or couple of months .

VAL projects are fully funded

No more funding from sterlite will be required for  sterlite

For further details listen to concall.......