Sterlite Industries Q2FY07 Results

Sterlite Industries India Ltd has announced the following Audited Results for the quarter ended September 30, 2007:

The Company has posted a net profit after tax & exceptional items of Rs 2128.70 million for the quarter ended September 30, 2007 where as the same was at Rs 1365.60 million for the quarter ended September 30, 2006. Total Income is Rs 36965.40 million for the quarter ended September 30, 2007 where as the same was at Rs 33305.60 million for the quarter ended September 30, 2006.

The Unaudited Consolidated Results are as follows:

The Group has posted a net profit after tax attributable to consolidated Group of Rs 10827.40 million for the quarter ended September 30, 2007 where as the same was at Rs 10710.00 million for the quarter ended September 30, 2006. Total Income is Rs 68904.20 million for the quarter ended September 30, 2007 where as the same was at Rs 68292.50 million for the quarter ended September 30, 2006.

Previous Period / Year figures have been regrouped / recasted wherever necessary. On account of sale of Power Transmission Line Division with effect from July 01, 2006, figures for current period/s are not strictly comparable to figures for the previous period / year.

Sterlite Industries clarifies on demerger news

"Sterlite Ind may demerge & list Sterlite Energy", Sterlite Industries Ltd has clarified to that the Company has not taken any decision to demerge its 100% subsidiary, Sterlite Energy Ltd.

The Company has never expressed such intentions in any fora and completely denies these market speculations

Citigroup - Sterlite Industries

Citigroup recommends BUY on Sterlite Industries

Target price of Rs 949

52% upside

Acquiring Balance stake in HZL

May acquire Balco stake

Commercial power plans

Merrill Lynch - Sterlite Industries Limited

Merrill Lynch has a BUY on Sterlite Industries

They have quality assets, there is attractive volume growth

They might increase stake in Hindustan Zinc

Attractive valuations compared to global peers

Price target of Rs 808