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Sterlite Industries posts Q4 results, offers 200% bonus

Sterlite Industries posts Q4 results, offers 200% bonus
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First Published: Mon, Apr 28 2008. 10 46 AM IST
Updated: Mon, Apr 28 2008. 10 46 AM IST
Mumbai: Sterlite Industries (I) Limited announced its Q4 results for FY 2008 with a proposed dividend of 200% or Rs4.00 per equity share.
The company registered the highest ever annual production across all metals with costs lower in all operations. The Chanderiya II hydro smelter achieved a rated capacity in Q1, post commissioning.
Hindustan Zinc Ltd (HZL) is projected to turn into the world’s largest integrated zinc-lead producer by 2010. Expansion projects will take its total integrated zinc-lead capacity to 1,065,000 tonnes per annum with fully integrated mining and captive power generation capacities
The first phase of the 500,000 tpa Jharsuguda Aluminium smelter is in the final stages of commissioning with first metal tapping expected shortly, more than a year ahead of schedule
Work on the 2400 MW independent power plant is progressing on schedule and 320 mt coal block allocation secured during the year, including largest and single allocation of 210 mt. Contribution of strong volumes and lower operating costs to Ebitda were offset by lower zinc LME prices and an appreciating Indian rupee.
The company has presented a strong balance sheet with net cash position of approximately Rs12,000 crore.
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First Published: Mon, Apr 28 2008. 10 46 AM IST