Sterlite Industries

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Sterlite Industries (India) Limited
Type Public company
Traded as NYSESLT
BSE500900
NSESTER
BSE SENSEX Constituent
Industry Metal, Mining
Successor(s) Sesa Sterlite Limited
Founded 8 September 1975, Calcutta,India
Area served Worldwide
Key people Anil Agarwal
(Chairman)
Revenue Increase INR 126.58 billion (2007-08)[1]
Employees 13,500 (Mar 2013)
Parent Vedanta Resources

Sterlite Industries (India) Ltd. is a subsidiary of Vedanta Resources plc, a diversified and integrated metals and mining group. The company is based in Mumbai, India.[2] On 31 March 2013, the company's market capitalisation was INR 31,490 crores (US$ 5.79 billion).

In September 2013, SESA Goa, Sterlite Industries and Vedanta Aluminium merged to form Sesa Sterlite Limited.[3]

Overview[edit]

The company engages primarily in the production of copper in Tuticorin, India.[4][5] Its products include copper cathodes; and cast copper rods, including 11 mm and 12 mm rods used in the transformer industry, and 8 mm rods used by the wires and cables industry with applications in housing wires, electrical cables, and telecom cables. The company also engages in the mining of bauxite, and the production of aluminum conductors and various aluminum products, as well as in the mining of zinc ore, and in the manufacture of zinc ingots and lead ingots. In addition, Sterlite Industries produces various chemical products, such as sulphuric acids, phosphoric acids, phospho gypsum, hydro fluo silicic acids, and granulated slag. Further, the company involves in trading gold, as well as in paper business. It markets its copper products directly to original equipment manufacturers and traders.

The company’s main operating subsidiaries are Hindustan Zinc Limited for its zinc and lead operations; Copper Mines of Tasmania Pty Limited for its copper operations in Australia; and Bharat Aluminium Company Limited for its aluminium operations. The company is entering into the commercial power generation business by setting up a large scale 2,400 MW coal based independent thermal power plant in Jharsuguda, Orissa and a wind energy project at Karnataka, Gujarat and Maharashtra, totaling 110.4 MW. Post completion of these projects, the company will have a total wind power capacity of 148.8 MW. .[6] As of 31 March 2010, it also operates a copper mine in Australia.[7]

On 23 Feb 2001, Sterlite bought 51% stake in Bharat Aluminium Co. from the government of India by $118.5 million.[8]

Public company[edit]

Sterlite Industries is a public company traded under the ticker SLT at the NYSE in the form of ADS (American Depositary Shares) since 2007.

150,000,000 ADS at US$13.44 per share have been issued and registered on 15 November 2006, representing one underlying equity share per ADS. The registration statement contains financial data for fiscal years ended 31 March 2004 to 31 March 2006.

As of 31 December 2007 the following earnings reports have been filed with the SEC:

Results on Indian income statements are generally expressed in crore (1 crore = 10 million rupees = USD 213,460 with USD 1.00 = INR 46.84718 on 26 August 2010).

References[edit]

  1. ^ "Sterlite Industries". Retrieved April 2008. 
  2. ^ Yahoo!Finance
  3. ^ "Key Facts". Sesa Sterlite. Retrieved 18 February 2014. 
  4. ^ "Vedanta's copper smelting plant ordered to stop operations". Deccan Herald. 30 March 2013. Retrieved 17 February 2014. 
  5. ^ "TN government orders closure of Sterlite copper smelter". The Hindu (Chennai, India). 31 March 2013. Retrieved 17 February 2014. 
  6. ^ Results for the First Quarter Ended 30 June 2007 = Q1/2008
  7. ^ "Sterlite Industries India Ltd (SLT) Company Profile | Reuters.com". reuters.com. 2011. Retrieved 19 May 2011. 
  8. ^ "Sterlite buys 51% BALCO stake". BBC News. 9 May 2001.