Sesa Goa reported its unaudited consolidated production release for the Q4 and full year ended March 31, 2012. During Q4, iron ore sales were down by 21.21% at 5.2 million tonnes as compared with 6.6 million tonnes (6.4 million tonnes excluding Orissa) in the corresponding prior quarter due to the continued mining ban in Karnataka, and transport and logistics bottlenecks in Goa. The company is expanding existing roads and establishing road corridors at Goa to reduce these bottlenecks. For the full year, sales were 16.0 million tonnes as compared with 18.1 million tonnes (16.4 million tonnes excluding Orissa) during the corresponding prior year.
The Karnataka mining ban is being heard by the Supreme Court. At Karnataka, the company sold 0.2 million tonnes and 0.9 million tonnes during Q4 and H2, respectively, through the Court-sponsored e-auctions of inventory.
In Q4, production of iron ore was lower by 11% at 4.9 million tonnes. The production for the full year was 13.8 million tonnes compared with 18.8 million tonnes (17.4 million tonnes excluding Orissa) in the previous year. Besides, volumes were lower primarily due to the Karnataka mining ban and the discontinuation of Orissa operations.
The expansions of the pig iron capacity to 625 ktpa and metallurgical coke capacity to 560 ktpa are progressing well and will be commissioned by the company in the current quarter.
| Company Name | CMP |
|---|---|
| Hindalco | 1038.95 |
| Vedanta | 787.60 |
| Hindustan Zinc | 592.35 |
| Jain Resource Recycl | 420.90 |
| Gravita India | 1639.80 |
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