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Prakash Industries Ltd. Capital/Financing Update 2020
61790_rns_2020-06-27_fbf567d2-e84d-496d-85ad-c87623df877e.pdf
Capital/Financing Update
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Prakash Industries Limited
Srivan, Bijwasan, New Delhi· 110061 CIN: L27109HR1980PLC010724 Tel.: 25305800, 28062115 Fax: 91-11-28062119 E-mail : [email protected] Website : www.prakash.com
PIL/SE/PR-3/2020
2ih June, 2020
Listing Department National Stock Exchange of India Ltd Exchange Plaza, 5th Floor, Plot No. C/1 G Block,Bandra-Kurla Complex, Sandra (E) Mumbai - 400051
Company Symbol : PRAKASH
Listing Department BSE Ltd. Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400001
Company Code : 506022
Sub: Press Release
Dear Sir,
In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a press release given today by the Company for your information and record.
Thanking you,
Yours faithfully, For Prakash Industries Limited
Ashwini Kumar Company Secretary
Encls : as above
Date: 2~h June, 2020
PRAKASH INDUSTRIES LIMITED
FINANCIAL RESULTS FOR THE YEAR ENDED 31st MARCH, 2020
During the year, the Company has achieved Net Sales of ~2,974 crores and EBITDA of ~355 crores. After providing for interest, depreciation and tax, the Net Profit of the Company for the year is ~ 114 crores.
Highlights:
• Record Sponge Iron Production
The Sponge Iron division achieved its highest ever production of 8.2 lakh tonnes during FY2020, up by around 9% over the last financial year, as the newly commissioned 5th Sponge Iron Rotary kiln started commercial production during the year.
• Expansion in Steel Melting Shop (SMS) capacity
The Company expanded the installed capacity in its SMS division by commissioning 4 nos. new energy efficient Induction Furnaces. The enhanced capacity now stands at 1.175 million tonnes per annum. The installation of these Induction Furnaces will result in further cost savings to the Company.
• Additional Coal Linkage
The Company secured additional allocation of long-term Coal linkage of 1.59 lacs MT per annum for the next 5 years for its 5th Sponge Iron Kiln.
• Commencement of Captive Iron Ore Mining operations
The Company recently commenced the commercial extraction of Iron Ore at its Sirkaguttu Iron Ore Mine in the state of Odisha. This is an important mile stone for the Company and will result in cost reduction as it is the key input for steel making.
• Outlook
The demand for Company's long products has been steady since May'20 due to timely restart of plant operations backed by re-commencement of infrastructure & construction activities across the country. . . /\Yh ~'~ ~YYJ e-vv
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,' ,..~ Prakash Disclaimer: This release contains forward-looking statements based on the currently lteld beliefs and assumptions of the management of known and Industries unknown Limited (PIL), which ore expressed in good faith and, in their opinion, reasonable. Forward looking statements involve risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or industry other results factor , to d s, iffer materially from the results or performance implied by such f orward-looking statements. Given these risks, uncertainties and recipients of this document ore cautioned not to place undue reliance on these forward-look mg statements.