This document summarizes the financial performance and hedging strategy of SGSTL, an export-oriented company. In the first quarter of 2011-12, SGSTL reported total sales of Rs. 587.69 crore, with steel division sales of Rs. 411.32 crore and lighting division sales of Rs. 176.37 crore. Profit before tax for the quarter was Rs. 11.20 crore. The document also outlines SGSTL's existing and proposed bank limits, with SBI, PNB, and State Bank of Patiala as the major banks in the consortium. SGSTL is seeking an increase in working capital limits from Rs. 620 crore to Rs. 861.69

1. Hedging
Strategy
1

2. Hedging Strategy for a Export Oriented Cmpany
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3. Surya Global Steel Tube Limited
29

4. Financial SGSTL
(Fig Rs in Cr)
Estimated
30-09-2010 30-06-2011 Y.E. 2011 % of
Particular Year Ending Qtr Ending (Sept.) Achievement
Turnover 98.79 387 652.50 59%
30

5. SGSTL Equitable Mortgage
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6. Surya Roshni Limited
CMA Analysis
&
Proposed Banks Limits
31

7. CMA v/s Actuals
Fig Rs in Cr.
Est. CMA FY Apr 11 to Achievement
Particulars Division
2011-12 Jun 11 (in %)
Steel 1885 411 22%
Sales
Lighting 870 176 20%
Total 2755 587 21%
Steel 40 6 15%
PBT
Lighting 44 5 11%
Total 84 11 13%
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8. Unaudited Financial Results Q1 2011-12
(Rs in Cr.)
S.No. Particulars Q1 2011-12 Q1 2010-11 FY. 2010-11
1 Sales 587.69 508.19 2441.82
2 EBITDA 36.64 32.27 181.94
3 Depreciation 10.66 8.72 51.24
4 Interest 14.78 13.73 60.54
5 PBT 11.20 9.82 70.16
6 PAT 9.77 8.36 61.57
33

9. Unaudited Financial Results Q1 2011-12
(Rs in Cr.)
Steel Division
S.No. Particulars Q1 2011-12 Q1 2010-11 FY. 2010-11
1 Sales
411.32 340.99 1617.21
2 EBITDA
16.13 10.29 75.58
3 Depreciation
3.69 1.77 19.04
4 Interest
6.19 4.21 24.18
5 PBT
6.25 4.31 32.36
34

10. Unaudited Financial Results Q1 2011-12
(Rs in Cr.)
Lighting Division
S.No. Particulars Q1 2011-12 Q1 2010-11 FY. 2010-11
1 Sales
176.37 167.20 824.61
2 EBITDA
20.51 21.98 106.36
3 Depreciation
6.97 6.95 32.20
4 Interest
8.59 9.52 36.36
5 PBT
4.95 5.51 37.80
35

11. Bank Sharing Pattern:- Fund Based
Existing Fund Limits Proposed
Bank Name
Based Enhanced By Fund Based
State Bank of India 165 20 185
140 7 147
Punjab National Bank
40 0 40
State Bank of Patiala
IDBI Bank 35 0 35
Bank of Baroda 15 0 15
ICICI Bank - 20 20
SCB - 18 18
Total Consortium 395 65 460
36

12. Bank Sharing Pattern:- Non Fund Based
Existing Non Limits Proposed Non
Bank Name
Fund Base Enhanced By Fund Base
State Bank of India 103 54 157
82 31 113
Punjab National Bank
20 0 20
State Bank of Patiala
IDBI Bank 20 0 20
Bank of Baroda - 15 15
ICICI Bank - 40 40
SCB - 25 25
Total Consortium 225 165 390
37

13. Bank Sharing Pattern:- WC Limits
Existing Share in % Limits Proposed
Bank Name
Limits Enhanced By Limits
State Bank of India 268 43% 85.69 353.69
222 36% 38 260
Punjab National Bank
60 10% 0 60
State Bank of Patiala
IDBI Bank 55 9% 0 55
Bank of Baroda 15 2% 15 30
ICICI Bank 60 60
SCB 43 43
Total Consortium 620 100% 241.69 861.69
38

14. Highlight of Lead Bank Sanction
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15. Expectation from Consortium
40

16. 9/18/12

17. 9/18/12

18. 42