Sterlite Industries (India) Limited Consolidated Results for the Fourth Quarter and Year Ended 31 March 2013

  Sterlite Industries (India) Limited Consolidated Results for the Fourth
  Quarter and Year Ended 31 March 2013

                  Highest ever annual EBITDA and Net Profit

Business Wire

MUMBAI, India -- April 30, 2013

Sterlite Industries (India) Limited ("SIIL" or the "Company") today announced
its audited consolidated results for the fourth quarter (Q4) and full year
ended 31 March 2013 (FY 2013).


Q4 and FY 2013 Highlights

Operations
● Strong full year production growth and cost performance across businesses
● Record full year production of Zinc-Lead mined metal and integrated silver
at Zinc India
Exploration
● Significant addition to R&R at Zinc India and Copper Australia
Financial
● Record EBITDA for the quarter and the year :
○ Q4 up 23% at Rs. 3,323 crore
○ FY2013 up 2% at Rs. 10,574 crore
● Record attributable PAT for the quarter and the year :
○ Q4 attributable PAT up 51% at Rs. 1,925 crore and EPS at Rs. 5.7 per share
○ FY2013 attributable PAT up 26% at Rs. 6,060 crore and EPS at Rs. 18 per
share
● Total interim dividend of Rs. 2.30 per share for FY2013
● Contribution of Rs. 6,200 crore to the Exchequer during the year in terms of
taxes, duties and royalties

Mr. Anil Agarwal, Chairman: "We achieved a strong operating and financial
performance in FY2013. With production growth across our portfolio of world
class assets, we recorded a net profit of Rs 6,060 crore in FY2013 and the
Board has declared total interim dividend of Rs. 2.30 per share for FY2013."


Consolidated Financial Performance

                Q4                        Q3      Full year
Particulars (In                     %                                   %
Rs. crore,        FY2013  FY2012  change   FY2013   FY2013  FY2012  change
except as                           YoY                                 YoY
stated)
Net
Sales/Income      12,609   10,757   17       10,692   44,922   40,967   10
from operations
EBITDA            3,323    2,691    23       2,375    10,574   10,362   2
Interest          276      250      10       227      922      852      8
expense
Forex             78       184      (58)     (63)     17       (305)    106
(loss)/gain
Profit before
Depreciation      3,907    3,408    15       2,896    13,017   12,174   7
and Taxes
Depreciation      453      503      (10)     538      2,032    1,830    11
Profit before
Exceptional       3,454    2,905    19       2,358    10,985   10,344   6
items
Exceptional       118      432      (73)     -        118      473      (75)
Items
Taxes             418      487      (14)     356      1,618    2,111    (23)
Profit After      2,918    1,987    47       2,003    9,249    7,761    19
Taxes
Minority          787      550      43       585      2,529    2,161    17
Interest
Share in
Profit/(Loss)     (206)    (160)    (29)     (226)    (660)    (772)    15
of Associate
Attributable
PAT after         1,925    1,277    51       1,191    6,060    4,828    26
exceptional
item
Basic Earnings
per Share         5.7      3.8      51       3.5      18.0     14.4     26
(Rs./share)
Underlying
Earnings per      5.5      4.1      34       3.7      17.9     16.7     7
Share*
(Rs./share)
Exchange rate
(Rs./$) –         54.2     50.3     8        54.1     54.5     47.9     14
Average
Exchange rate
(Rs./$) –        54.4    51.2    6       54.8    54.4    51.2    6
Closing
                                                                        
*Before forex and exceptional items


Revenues for Q4 and FY2013 were Rs. 12,609 crore and Rs. 44,922 crore, an
increase of 17% and 10% respectively. The increase in revenue was driven by
higher volumes and depreciation of the Indian Rupee, which more than offset
lower metal prices. During Q4 and full year, the company delivered higher
refined silver, lead, Copper, Aluminium and Power and higher mined metal
production at Zinc India.

EBITDA in FY2013 was up 2% at Rs. 10,574 crore and in Q4 was up 23% higher at
Rs. 3,323 crore, on account of higher production, higher metal premiums and
lower costs which more than offset lower metal prices during the year.

Interest cost in Q4 and FY2013 was higher as compared to the corresponding
prior periods due to capitalisation of new plants.

Depreciation in Q4 was lower due to one-off depreciation reversal at Zinc
India. Depreciation cost for FY2013 was higher on account of capitalization of
new plants at Zinc India and Sterlite Energy Limited (SEL).

During the year there was gain on account of foreign exchange movement as
compared to the previous year, largely on account of foreign exchange hedge
contract towards investments made in overseas subsidiaries, as designated
contracts, resulting into transfer of foreign exchange movement to reserves,
in accordance with AS 30.

During Q4 and FY2013, Attributable PAT and Basic EPS were significantly higher
by 51% and 26% respectively, over the corresponding prior periods on account
of higher EBITDA, higher investment income, lower foreign exchange losses and
lower tax rate.


Merger of Sterlite and Sesa Goa Limited and Vedanta Group Consolidation

The proposed Vedanta Group Consolidation and Simplification has received the
approval of the High Court of Bombay at Goa on 3 April 2013. The hearings at
the High Court of Madras have been completed and the order is awaited.


Dividend

The Board has declared a second interim dividend of Rs 1.20 per share. The
total interim dividend for FY2013 is Rs 2.30 per share and no final dividend
is proposed to be declared. The total dividend outgo will be Rs. 773 crore as
against Rs. 686 crore during the previous year.

                                                
Zinc - India Business
                                                
                Q4                        Q3      Full Year
Production                          %                                   %
(in’000 tonnes,   FY2013  FY2012  change   FY2013   FY2013  FY2012  change
or as stated)                       YoY                                 YoY
Mined metal       260      223      16       233      870      830      5
content
Refined Zinc –    182      190      (4)      171      677      759      (11)
Total
Refined Zinc –    181      189      (4)      168      660      752      (12)
Integrated
Refined Lead -    35       37       (6)      32       125      99       26
Total ^1
Refined Lead –    32       31       2        22       107      89       20
Integrated
Silver - Total    117      88       33       117      408      242      69
(in tonnes) ^2
Silver -
Integrated (in    100      83       20       62       322      237      36
tonnes)
                                                                 
Financials (In
Rs. crore,                                                        
except as
stated)
Revenue           3,820    3,062    25       3,117    12,324   11,132   11
EBITDA            2,098    1,617    30       1,484    6,339    5,976    6
PAT               2,174    1,418    53       1,629    6,842    5,506    24
Zinc CoP
without Royalty   44,901   41,693   8        44,900   45,461   40,003   14
(Rs./MT)
Zinc CoP
without Royalty   829      828      -        829      835      834      -
($/MT)
Zinc CoP with     998      995      -        993      998      1,010    (1)
Royalty ($/MT)
Zinc LME Price    2,033    2,025    -        1,947    1,948    2,098    (7)
($/MT)
Lead LME Price    2,301    2,093    10       2,199    2,113    2,269    (7)
($/MT)
Silver LBMA      30.1    32.6    (8)     33      30.5    35.3    (14)
Price ($/oz)

     Includes captive consumption of 1,777 tonnes in Q4 FY2013 vs. 2,156
1.  tonnes in Q4 FY2012, and 6,500 tonnes in FY2013 vs. 6,625 tonnes in
     FY2012.
2.   Includes captive consumption of 9 tonnes in Q4 FY2013 vs.11 tonnes in Q4
     FY2012 and 34 tonnes in FY2013 vs. 35 tonnes in FY2012.
     

Mined metal production was a record 260,000 tonnes in Q4, 16% higher than the
corresponding prior period, and in line with the annual mine plan. Full year
production was 870,000 tonnes, 5% higher than the previous year.

The integrated production of refined zinc was 181,000 tonnes in Q4, 8% higher
than Q3. Full year production was 660,000 tonnes, in line with the annual
plan. Sales of zinc metal-in-concentrate (MIC) were 61,000 tonnes, due to
surplus concentrate in Q4. Integrated production of refined lead was 32,000
tonnes in Q4 and 107,000 tonnes for the full year, up 2% and 20% respectively.

Saleable integrated production of silver was a record 91 tonnes in Q4 and 288
tonnes for the full year, up 26% and 43%, respectively, driven by the
continued ramp-up of the SK mine and the Dariba lead smelter.

EBITDA for Q4 was higher by 30% mainly due to higher integrated silver sales,
zinc concentrate sale of 61,000 tonnes and higher sales realisation due to
rupee depreciation.

EBITDA for FY2013 was higher by 6% on account of higher sales realisation and
volume which was partially offset by lower prices and higher cost of
production

Zinc India achieved record net profits of Rs. 6,842 crore in FY 2013, up 24%,
benefiting from higher sales and other income, partially offset by higher
operating costs. Net profit for the quarter was up 53%to Rs. 2,174 crore
driven by higher sales.

The Zinc metal cost, without royalty for FY 2013 was higher by 14% in INR and
flat in USD term at Rs. 45,500 per MT ($835), compared with the previous year.
The cost during the quarter was Rs. 44,900 per MT ($829), 8% higher in INR and
flat in USD terms from a year ago. The increase was due to higher strip ratio
at Rampura Agucha and lower acid credits, partially offset by lower power
costs.

During the year, Zinc India announced its next phase of growth plan, which
will increase its mined metal production capacity to 1.2 mtpa. Rampura Agucha
underground mine and Kayad mine will start commercial production in FY 2014.

In FY 2013, there was a gross addition of 24.6 million tonnes to reserves and
resources, prior to a depletion of 8.6 million tonnes. Total reserves and
resources at 31 March 2013 were 348.3 million tonnes containing 35.1 million
tonnes of zinc-lead metal and 910 million ounces of silver. Zinc India's mine
life continues to be 25+ years.

Mined metal production in FY 2014 is projected to increase by 15% to
approximately 1.0 mtpa. Integrated saleable Silver production is projected to
be approximately 360 tonnes in FY 2014.

                                                
Zinc - International Business

                Q4                        Q3      Full Year
Production                          %                                   %
(in’000 tonnes,   FY2013  FY2012  change   FY2013   FY2013  FY2012  change
or as stated)                       YoY                                 YoY
Refined Zinc –    36       36       2        36       145      145      -
Skorpion
Mined metal
content- BMM      65       71       (8)      68       280      299      (6)
and Lisheen
Total             102      106      (4)      104      426      444      (4)
Financials (In
Rs. crore,                                                        
except as
stated)
Revenue^1         1,130    1,007    12       1,065    4,331    4,258    2
EBITDA            434      371      17       439      1,603    1,737    (8)
PAT               267      174      53       226      894      1,034    (14)
CoP – ($/MT)      1,181    1,158    2        1,095    1,113    1,165    (4)
Zinc LME Price    2,033    2,025    -        1,947    1,948    2,098    (7)
($/MT)
Lead LME Price   2,301   2,093   10      2,199   2,113   2,269   (7)
($/MT)
                                                                        
1.Includes intercompany sales to Zinc India of Rs. 153 crore in FY 2012.


Total production of refined zinc and mined zinc-lead metal-in-concentrate
(MIC) was 102,000 tonnes in Q4 which included 65,000 tonnes of Zinc and Lead
MIC at Lisheen and BMM and 36,000 tonnes of refined Zinc at Skorpion.

For the full year, total production of Zinc and Lead MIC and Zinc refined
metal was 426,000 tonnes in line with our mine plan, which comprised 280,000
tonnes of Zinc and Lead MIC at Lisheen and BMM, and 145,000 tonnes of refined
Zinc at Skorpion.

EBITDA for Q4 was up 17% reflecting improved realisations and translation
exchange gain. For FY2013, EBITDA was Rs. 1,603 crore, lower than the
corresponding previous year on account of lower volume and LME prices,
partially offset by lower costs.

In FY2014, production at Zinc–International is expected to be 390,000 -
400,000 tonnes.


Copper – India / Australia Business

                Q4                        Q3      Full Year
Production                          %                                   %
(in’000 tonnes,   FY2013  FY2012  change   FY2013   FY2013  FY2012  change
or as stated)                       YoY                                 YoY
Copper - Mined    7        5        28       6        26       23       15
metal content
Copper -          86       80       7        92       353      326      8
Cathodes
Tuticorin power
sales             35       -        -        7        42       -        -
(million units)
Financials (In
Rs. crore,                                                        
except as
stated)
Revenue           5,860    5,097    15       5,164    21,742   20,166   8
EBITDA            375      334      12       234      1,217    1,529    (20)
Foreign
Exchange          14       64       (77)     (92)     (136)    (170)    20
gain/(loss)
Exceptional       (100)    (423)            -        (100)    (423)    
items
PAT               322      106      203      147      1,040    1,123    (7)
Tc/Rc (US¢/lb)    14.8     15.3     (3)      12.4     12.8     14.5     (12)
Net CoP –
cathode           10.7     4.1      -        10.8     8.7      0.0      -
(US¢/lb)
Copper LME       7,931   8,310   (5)     7,909   7,853   8,475   (7)
Price ($/MT)
                                                                        

Copper cathode production was 86,000 tonnes in Q4, 7% higher than the
corresponding prior period, and 8% higher at 353,000 tonnes in FY2013. Mined
metal production at Australia was 28% higher at 7,000 tonnes in Q4 and 15%
higher at 26,000 tonnes for the full year.

EBITDA for Q4 was 12% higher at Rs. 375 crore compared with the corresponding
prior quarter on account of higher sales volume and power sales from 80MW
captive power plant which partially offset higher CoP. Net CoP during Q4 was
higher on account of lower by-product credits partially offset by lower power
cost from 80 MW captive power plants. Sulphuric Acid realisation was 87% lower
at Rs. 287 per tonne impacting CoP by 6.5 c/lb during the quarter and 57%
lower at Rs. 1805 per tonne impacting the CoP by 6.0 c/lb during the year.

EBITDA for the year was 20% lower at Rs. 1,217 crore, on account of lower
TcRcs and higher net CoP. Net CoP was higher primarily on account of lower
by-product credits and higher power and petroleum costs partially offset by
improved margin on account of depreciation of the Indian Rupee.

The first 80MW unit of the 160MW captive power plant at Tuticorin has been
stabilised during the quarter and is now operating at capacity, with plant
load factor (PLF) of 81% during the quarter. Surplus power generated by this
plant beyond the captive consumption requirements were sold, and commercial
power sales were 35 million units in Q4 and 42 million units for the full
year. The second 80MW unit is expected to be synchronized in Q1 FY2014.

Australian Copper Mine has added 5.4 million tonnes to their R&R, prior to
depletion of 2.5 million tonnes. With a total R&R of 8.9 million tonnes of
copper ore as on 31 March 2013, the mine life has been extended to around 4
years.

Tuticorin Copper Smelter Update

Following a few public complaints of emission, Tamil Nadu Pollution Control
Board (TNPCB) ordered closure of the Tuticorin Copper Smelter on March 29,
2013. The Company's appeal against the TNPCB order has been admitted by
National Green Tribunal (NGT). An expert committee constituted by NGT has
submitted its report and the matter is now being heard by NGT.

Separately, on 2 April 2013, the Honourable Supreme Court has upheld our
appeal filed in 2010 against the Madras High Court order for smelter closure
and ordered us to deposit Rs. 100 crore with the District Collector,
Tuticorin, which will be used to improve the environment, including soil and
water, in the vicinity of the plant. Over the two year court process,
regulatory bodies had inspected and confirmed that the plant meets the
required standards. Some recommendations for improvements had been proposed by
them, all of which had been implemented.


Aluminium Business - BALCO

             Q4                         Q3       Full Year
Production                        %                                     %
(in’000        FY2013   FY2012  change   FY2013    FY2013   FY2012  change
tonnes, or                        YoY                                   YoY
as stated)
Aluminium      62        62       -        62        247       246      1%
                                                                 
Financials
(In Rs.
crore,                                                            
except as
stated)
Revenue        954       868      10       832       3,426     3,112    10
EBITDA         85        101      (16)     64        301       406      (26)
PAT            20        52       (62)     (8)       37        163      (77)
CoP ($/MT)     1,930     1,918    1        1,995     1,951     1,997    (2)
CoP (Rs./MT)   104,532   96,857   8        108,000   106,236   95,747   11
Aluminum LME  2,003    2,177   (8)     1,997    1,974    2,313   (15)
Price ($/MT)
                                                                        

The Korba-II aluminium smelter continues to operate at its rated capacity. The
aluminium production was 62,000 tonnes for the quarter and 247,000 tonnes for
the full year. The plant continues to convert most of its metal into value
added products.

EBITDA for Q4 was 16% lower at Rs. 85 crore due to higher CoP, partially
offset by higher sales realisation due to depreciation of the Indian Rupee and
higher metal premiums.

EBITDA for FY2013 was 26% lower at Rs. 301 crore due to higher CoP and lower
metal prices, partially offset by higher sales realisation due to depreciation
of the Indian Rupee and higher metal premiums.

Aluminium premiums were higher during the year and the quarter, reflecting the
demand-supply gap of primary metal in the physical market. Net Sales
Realisation over LME was approximately $480 per tonne during FY2013, $180 per
tonne higher compared to FY2012.

PAT in Q4 and FY2013 was lower due to lower EBITDA and other income.

At the 325ktpa Korba-III aluminium smelter, mechanical and electrical
completion and pre-commissioning of the rectifier, potline and related
utilities for 84 pots out of the total 336 pots have been completed. Further
work is in progress and we plan to tap first metal in Q2 FY2014. The smelter
plans to initially draw power from the existing 810MW power plants at BALCO.
BALCO 1,200MW captive power plant is awaiting final stage regulatory
approvals.

Having obtained the Stage-II Forest Clearance for the 211mt coal block at
BALCO, the process for diversion of forest land has been initiated by the
State Government, and we are in the process of signing the mining lease
agreement. We expect to commence mining in end Q2 FY2014.


Aluminium Business – Vedanta Aluminium Limited (Associate Company)

             Q4                        Q3       Full Year
Production                       %                                      %
(in’000        FY2013  FY2012  change   FY2013    FY2013   FY2012   change
tonnes, or                       YoY                                    YoY
as stated)
Alumina –      -        240      (100%)   104       527       928       (43%)
Lanjigarh
Aluminum –     133      115      16%      135       527       430       23%
Jharsuguda
                                                                 
Financials
(in Rs.                                                           
crore except
as stated)
Revenue        1,709    1,663    3        1,713     7,037     5,834     21
EBITDA         261      222      18       248       971       563       73
Forex          (205)    (80)     157      (295)     (311)     (624)     (50)
gain/(loss)
PAT            (700)    (542)    (29)     (766)     (2,237)   (2,618)   15
SIIL Share     (206)    (160)    29       (226)     (660)     (772)     15
(29.5%)
Aluminium      1,799    1,930    (7)      1,928     1,869     2,188     (15)
CoP ($/MT)
Aluminium      97,496   97,574   -        104,400   101,779   104,892   (3)
CoP (Rs./MT)
Aluminium
LME Price     2,003   2,177   (8)     1,997    1,974    2,313    (15)
($/MT)
                                                                        

Aluminium production was 16% higher at 133,000 tonnes in Q4, and 23% higher at
527,000 tonnes in full year, as compared with the corresponding prior periods.
The Jharsuguda-I smelter operated above the rated capacity, with significant
improvement in specific power consumption, throughput and other operational
parameters.

EBITDA was 18% higher at Rs. 261 crore for Q4 and 72% higher at Rs. 971 crore
for FY2013 on account of higher volumes, higher metal premium and better cost
performance, partially offset by lower aluminium LME prices. EBITDA margin
also improved due to higher conversion of primary metal into value added
products. During FY2013, 41% of primary metal was converted to value added
products compared to 38% last year.

Aluminium premiums were higher during the year and the quarter, reflecting the
demand-supply gap of primary metal in the physical market. Net Sales
Realisation over LME was approximately $320 per tonne during FY2013, $160 per
tonne higher compared to FY2012.

Aluminium CoP was lower due to improved operating performance, decrease in
input prices of coal, partially offset by increased carbon and alumina cost.

Alumina production at Lanjigarh remains temporarily suspended since 5 December
2012, due to inadequate availability of bauxite. We remain engaged with the
Orissa state authorities for allocation of bauxite as per our existing MoU
with the Orissa state government. A ministerial level committee is looking
into the issue of bauxite supply and is expected to submit its report shortly.

The Ministry of Environment and Forests (MOEF) had earlier rejected issuance
of final stage forest clearance for Niyamgiri Mining project of Orissa Mining
Corporation (OMC) which is one of the sources of supply of bauxite to the
alumina refinery of VAL. With respect to the writ petition filed by OMC
challenging the aforesaid action of MOEF, the Hon'ble Supreme Court vide its
order dated April 18, 2013 has directed the State Government of Odisha to
place unresolved issues and claims of the local communities under the Forest
Right Act and rules before the Gram Sabha. The Gram Sabha would consider these
claims and communicate the same to MOEF through the State Government of Orissa
within three months. On conclusion of the proceedings of the Gram Sabha, the
MOEF shall take a final decision for grant of stage II forest clearance for
the Niyamgiri mining project of OMC within two months.

We continue to evaluate the start-up date of the smelter for 1.25 mtpa
Jharsuguda-II Aluminium smelter.


Status of Investment in Vedanta Aluminium Limited as at 31 March2013

Investment in VAL (Rs. crore)  Sterlite  Vedanta  External  Total
Equity                          563        1,391     -          1,954
Preference Shares               3,000      -         -          3,000
Quasi Equity / Debt             8,573      545       17,765     26,883
Total Funding                   12,136     1,936     17,765     31,837
Corporate Guarantees           6,810     23,243   -         30,053


Power Business

                Q4                        Q3      Full Year
Particulars (in                     %                                   %
million units)    FY2013  FY2012  change   FY2013   FY2013  FY2012  change
                                    YoY                                 YoY
Total Power       2,433    2,166    12%      1,915    9,282    7,578    22%
Sales
SEL 2400 MW       2,073    1,674    24%      1,578    7,530    5,638    34%
Jharsuguda^1
Balco 270MW       282      412      (32%)    275      1241     1605     (23%)
Power Sales
HZL Wind Power    78       80       (2%)     62       511      336      52%
                                                                 
Financials (in
Rs. crore                                                         
except as
stated)
Revenue ^2        847      723      17       520      3,114    2,504    24
EBITDA            330      267      24       155      1,115    714      56
PAT               110      54       104      (28)     278      149      87
Average Power     1.81     2.16     (16)     2.29     2.06     2.40     (14)
CoP (Rs./unit)
Average Power
Realization       3.16     3.39     (7)      3.35     3.34     3.39     (1)
(Rs./unit)
SEL CoP           1.76     2.28     (23)     2.22     2.08     2.62     (20)
(Rs./unit)
SEL realization  3.09    3.43    (10)    3.31    3.33    3.42    (3)
(Rs./unit)

     Includes production under trial run of Nil million units in Q4 FY2013 vs.
1.  209 million units in Q4 FY2012 and 456 million units in Q3 FY2013, and
     795 million units in FY2013 vs. 926 million units in FY2012.
     

Power sales were 12% higher at 2,433 million units in Q4 and 22% higher at
9,282 million units for the full year, compared with the corresponding prior
periods. The increase was primarily due to higher power generation and sales
from three units of the Jharsuguda 2,400MW power plant. The trial runs at
fourth unit of Jharsuguda 2,400MW power plant were completed and subsequently
the plant was capitalised on 31 March 2013.

The plant load factor (PLF) of three operating units in Q4 was 58%, compared
to 31% in Q3. The increase in PLF was driven by the commissioning of the new
shared 1,000MW Raipur-Wardha transmission line in January 2013, and partial
easing of the evacuation restrictions. Overall the station delivered an
effective PLF of 44% considering all four units. We expect 50-60% PLF for all
four units in the near future with further easing of evacuation restrictions.

Power sales at BALCO 270MW were lower in Q4 and full year due to evacuation
constraints.

Q4 EBITDA was up 24% at Rs. 330 crore and FY2013 EBITDA was up 56% at Rs.
1,115 crore on account of higher sales volume and lower generation cost,
partially offset by lower sales realisation.

During Q4, the cost of generation at SEL was lower at Rs. 1.76 per unit on
account of fall in e-auction coal prices and higher usage of linkage coal.

Work at the Talwandi Sabo power project is progressing well and the first unit
is expected to be synchronized in Q2 FY2014.


Port Projects

In October 2010, we had been awarded a 30-year concession to upgrade the coal
berth at Vishakhapatnam Port to 10.18mtpa (Coal Berth mechanization project)
and operate it. This is being implemented at a total project cost of $150mn
through Vizag General Cargo Berth Private Limited (VGCB), a 74:26 joint
venture between SIIL and Leighton Welspun Contractors Private Ltd. VGCB has
commenced operations in Q4 FY2013 within the contractual timeline and budgeted
project cost.


Cash, Cash Equivalents and Liquid Investment

As at 31 March 2013, the company has consolidated cash, cash equivalents and
liquid investments of Rs. 24,847 crore, out of which Rs. 12,790 crore was
invested in debt mutual funds, Rs. 2,151 crore in bonds and Rs. 9,906 crore in
bank deposits. The company continues to follow a conservative investment
policy and invests in high quality debt instruments with the mutual funds,
bonds and fixed deposits with banks.


Note: Figures in previous periods have been regrouped or restated, wherever
necessary to make them comparable to current period.

About Sterlite Industries

Sterlite Industries (India) Limited is India's largest diversified metals and
mining company. The company produces aluminium, copper, zinc, lead, silver,
and commercial energy. Sterlite Industries has a portfolio of world class
assets in India, Australia, Namibia, South Africa and Ireland. Sterlite
Industries is listed on the Bombay Stock Exchange and National Stock Exchange
in India and the New York Stock Exchange in the United States. For more
information, please visit www.sterlite-industries.com

Disclaimer

This press release contains "forward-looking statements" – that is, statements
related to future, not past, events. In this context, forward-looking
statements often address our expected future business and financial
performance, and often contain words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "should" or "will." Forward–looking
statements by their nature address matters that are, to different degrees,
uncertain. For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in interest
and or exchange rates and metal prices; from future integration of acquired
businesses; and from numerous other mattersof national, regional and global
scale, including those of a political, economic, business, competitive or
regulatory nature. These uncertainties may cause our actual future results to
be materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking statements.

Regd. Office: SIPCOT Industrial Complex, Madurai Bypass Road, TV Puram P.O.,
Tuticorin-628002, Tamil Nadu

Contact:

Sterlite Industries (India) Limited
Ashwin Bajaj, +91 22 6646 1531
Senior Vice President – Investor Relations
sterlite.ir@vedanta.co.in
Sheetal Khanduja, +91 22 6646 1531
AGM – Investor Relations
sterlite.ir@vedanta.co.in
 
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