3rd Quarter & 9 Mths Results

RNS Number:8239O
SIEL Ld
1 August 2000

Letter to Company Announcements Office
Date:  July 31, 2000

In terms of the clause 41 of the Listing Agreement with the Stock Exchange, we
append below the Unaudited Quarterly Financial Results (provisional) of the
Company, for the period ended 30.06.2000.

These have been taken on record by the Board of Directors in their meeting held
today.

These results are being published in the newspapers.

Letter from SIEL Limited

UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE THREE MONTHS ENDED JUNE 30,
2000

                                                              (Rs. in Million)

S.                                                                  Year ended
No.    PARTICULARS      Three months ended     Nine months ended    30.09.1999
                     30.06.2000  30.06.1999  30.06.2000  30.06.1999   Audited

1  Net Sales/Income
   from Operations       1,128     1,274        3,584        3,485     4,918

2  Other Income             10        16           33           65       170

3  Total Expenditure
a. Increase/decrease
   in stock-in-trade       451       331         (778)        (524)      115
b. Consumption of raw
   materials/Purchase of
   finished goods          284       592        2,829        2,855     3,288
c. Staff Cost               59        68          224          214       335
d. Power and Fuel          117        92          322          144       280
e. Stores, spares and
   components               44        45          234          205       265
f. Other Expenditure        47        48          457          411       385

4. PBIDT (before Extraordinary
   Income)                 136       114          329          245       420

5. Extraordinary Income
      (net)                109         -          109            -         -

6. Interest                144       164          399          406       538

7. Depreciation             53        51          156          120       170

8. Profit/(Loss) before
     tax                    48      (101)        (117)        (281)     (288)

9. Provision for 
     taxation                -         -            -            -         -

10 Net Profit/(Loss)        48      (101)        (117)        (281)     (288)

11 Paid-up equity share
     capital               358       339          358          339       339

12 Reserves excluding        -         -            -            -     1,901
   revaluation reserves
   (as per Balance Sheet)
   of previous accounting
   year

13 EPS (Rs.)               1.41     (2.98)       (3.44)      (8.29)    (8.50)


Notes:

1     The above results have been taken on record by the Board of Directors in  
     its meeting held on 31st July 2000.
2     Extraordinary income represents consideration received on sale of RATH    
     brand, net of expenses.
3     73,17,000 equity shares of Rs. 10 each were allotted on Preferential      
     basis at a price of Rs. 12.30 per share (including a premium of Rs. 2.30   
    per share)
      Increase in paid-up equity share capital is on account of Rs.3 per share
      (including premium of Rs.0.50 per share) called and received towards
      Application and Allotment Money in respect of such shares.
4     The Company manufactures sugar, which is a seasonal industry.
5     Trial runs have since started for the flaking plant in the Chemical       
     Division at Rajpura and commercial production is expected to commence in   
    August 2000.
6     Company's Equity Shares have been moved to compulsory Demat segment       
     effective November 27 2000. However, Company has already activated its     
    Equity Shares for Dematerialisation on NSDL and arrangements with CDSL      
   are under progress.
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