Quarterly Performance Report

4th Quarter Financial Results (January 2015 to March 2015)
Sl. No. Particulars Three Months Ended 31st Mar 2015 (Audited) Three Months Ended 31st Dec 2014 (Limited Review) Three Months Ended 31st Mar 2014 (Audited) Twelve Months Ended 31st Mar 2015 (Audited) Twelve Months Ended 31st Mar 2014 (Audited)
(1) (2) (3) (4) (5) (6) (7)
1 Income from operations          
(a) Net Sales/Income from operations (Net of excise duty) 254.12 240.16 496.25 1004.83 1479.73
(b) Other Operating Income 2.41 1.15 4.81 10.71 9.15
  Total income from operations (net) 256.53 241.31 501.06 1015.54 1488.88
2 Expenses
(a) Cost of materials consumed 0.66 0.16 21.14 30.64 66.83
(b) Change in inventories of finished Goods, work-in -progress and stock-in-trade 10.43 13.46 10.09 (14.37) (45.48)
(c) Cost of stores, spares tools consumed 24.09 19.95 18.28 96.68 103.19
(d) Employee benefit expense 51.68 88.89 82.81 329.63 361.99
(e) Consumption of power fuel 48.05 40.08 60.71 176.10 190.15
(f) Depreciation and amortisation expense 31.10 21.13 41.23 112.85 174.14
(g) Other Expenditure 70.40 61.03 67.21 269.78 300.13
  Total expenses 236.41 244.70 301.47 1001.31 1150.95
3 Profit from Operations before other income, finance costs and exceptional Items (1-2) 20.12 (3.39) 199.59 14.23 337.93
4 Other income 16.18 15.86 36.83 66.90 95.04
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 36.30 12.47 236.42 81.13 432.97
6 Finance costs 0.27 0.08 0.83 0.68 2.32
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 36.03 12.39 235.59 80.45 430.65
8 Exceptional items 0.00 0.00 0.00 0.00 0.00
9 Profit from ordinary activities before Tax (7+8) 36.03 12.39 235.59 80.45 430.65
10 Tax expense
- Current 13.83 5.82 76.69 31.63 144.58
- Deferred (4.40) (4.02) 22.02 (18.78) (0.35)
11 Net Profit from ordinary activities after tax (9-10) 26.60 10.59 136.88 67.60 286.42
12 Extraordinary items 0.00 0.00 (1.39) 0.00 0.00
13 Net Profit for the period (11-12) 26.60 10.59 136.88 67.60 286.42
14 Paid-up equity share capital (Face Value Rs. 5/- Per Share) 462.61 462.61 462.61 462.61 462.61
15 Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year - - - 1398.93 1366.66
16. i Earnings per share (before extraordinary items)
  - Basic (Rs) 0.29 0.11 1.48 0.73 3.10
   - Diluted  (Rs) 0.29 0.11 1.48 0.73 3.10
16. ii Earnings per share (after extraordinary items)
  - Basic (Rs) 0.29 0.11 1.48 0.73 3.10
   - Diluted  (Rs) 0.29 0.11 1.48 0.73 3.10
A PARTICULARS OF SHAREHOLDING
1 Public Shareholding
  - Number of shares 92999541 92999541 92521800 92999541 92521800
  - Percentage of shareholding 10.05 10.05 10.00 10.05 10.00
2 Promoters and Promoter Group shareholding
  a) Pledged/Encumbered
  - Number of shares NIL NIL NIL NIL NIL
  - Percentage of shares (as a % of the total shareholding of promoter and promoter group) N.A. N.A. N.A. N.A. N.A.
  - Percentage of shares (as a % of the total share capital of the company) N.A. N.A. N.A. N.A. N.A.
  b) Non-encumbered
  - Number of shares 832218459 832218459 832696200 832218459 832696200
  - Percentage of Shares (as a % of the total shareholding of promoter and promoter group) 100% 100% 100% 100% 100%
  - Percentage of shares (as a % of the total share capital of the company) 89.95% 89.95%/td> 90.00% 89.95% 90.00%
B Investor Complaints
  Pending at the beginning of the Quarter Nil
  Received during the quarter 1
  Disposed of during the quarter 1
  Remaining unresolved at the end of the quarter Nil
  Notes:-

1)These results have been reviewed by Audit Committee and approved by Board in their meetings held on 27th May, 2015 28th May, 2015 respectively.

2) The company, a vertically integrated copper producer, is primarily engaged in the business of mining and processing of copper ore to produce refined copper metal, which has been grouped as a single segment in the above disclosures. The said treatment is in accordance with the Accounting Standard on "Segment Reporting (AS-17)".

3) The Board has recommended a dividend of Re 0.15 per share on equity shares for the F.Y. 2014-15, subject to approval of the stakeholders in the Annual General Meeting.

4) Pending initiation of proposal and approval by Administrative Ministry vis-a-vis certain clauses of Memorandum of Understanding (MoU) entered into between the management and workmen regarding wage revision w.e.f 01st November, 2012 needed to be finalised, an estimated amount of Rs 25.98 crore has been provided for in the accounts.

5) Net sales / income form operations for the year includes Debits of Rs 35.81 crore arising out of final settlement of export sales of cencentrate earliesr made during F.Y. 2013-14.

6) Consequent to enactment of the Companies Act, 2013 (the Act) and its applicability for accounting periods commencing after 01st April, 2014, the company has reworked depreciation with reference to the estimated economic lives of fixed assets prescribed by Part C Schedule II to the Act or actual useful life of assets, whichever is lower. In case of asset whose life has completed as above, the carrying value, as at 01st April, 2014 amounting to Rs 17.80 crore has been adjusted against the opening balance of the Retained Earnings in otherecases the carrying value has been depreciated over the remaining of the revised life of the assests and recognised in the financial results for the current period.

7) The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.

8) Figures for the previous period have been regrouped / rearranged, wherever necessary.