Sterlite Inds shines bright

Sterlite Industries is up strongly in the green today on the back of its stellar numbers for Q4FY13. After having hit an intra day high at Rs.95.85, the stock remains strongly in the green at Rs.93.90, up almost 2.5%. Volumes are robust at almost 15 lakh shares changing hands in the morning trades.

The company has posted a strong set of numbers for Q4FY13 with a net revenue at Rs.12674 crore, up 17% (YoY). The performance was led by copper and zinc, from Hindustan Zinc which contributes 30% to the revenue of Sterlite. It ended the quarter with a net profit at Rs.1925 crore, up by a strong 40%. It was purely driven by robust volume growth, boosting margins and profitability of the company.

In terms of breakdown of production, Mined metal production was a record 260,000 tonnes in Q4, 16% up (YoY), with FY13 production at 870,000 tonnes, 5% higher. The integrated production of refined zinc was 181,000 tonnes in Q4, 8% higher and that of FY13 was at 660,000. Integrated production of refined lead was 32,000 tonnes in Q4 and 107,000 tonnes for the full year, up 2% and 20% respectively. Integrated production of silver was a record 100,000 tonnes in Q4 and 322,000 tonnes for the full year, up 20% and 36%, respectively, driven by the continued ramp-up of the SK mine and the Dariba lead smelter. Regarding the Tuticorin plant imbroglio, word on the street is that it is expected to restart by 8th of May.