Sterlite Industries India Ltd. (SLT) is a subsidiary of Vedanta Resources plc, a diversified and integrated metals and mining group.
The company engages primarily in the production of copper in India. 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 sulfuric 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 is based in Mumbai, India.[1] 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. .[2] As of March 31, 2010, it also operates a copper mine in Australia.[3]
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 November 15, 2006, representing one underlying equity share per ADS. The registration statement contains financial data for fiscal years ended March 31, 2004 to March 31, 2006.
As of December 31, 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 August 26, 2010).