a ia wa stp efteer fafees STEEL AUTHORITY OF INDIA LIMITED FAX MESSAGE No.CA-17(44)/2016 December 8, 2016 ‘The General Manager (MO) ‘The Asstt, Vice President Bombay Stock Exchange National Stock Exchange of India Ltd. Corporate Relationship Department Plot No.C/1, G Block, Ist Floor, New Trading Ring, Bandra-Kurla Complex, Bandra (Fast), Rotunda Building, P.P. Tower, Mumbai-400 051. Dalal Street, Fort, (Fax No.022-26598237/38) Mumbai-400001 (Fax No.022-22723121/3719) Sub: Unaudited Financial Results for the_quarter/half year ended 30th September, 2016, Ref: Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: (Security 1D:SAIL), Dear Si ‘he Board of Directors at its meeting held today i.e, 8" December, 2016, inter- alia, considered and approved the Unaudited Standalone Financial Results for the quarter/half year ended 30" September, 2016 alongwith segment information. A copy of the following is enclosed pursuant to Regulation 33 of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015: 1, Unaudited Standalone Financial Results for the quarter/half year ended 30" September, 2016 alongwith segment information and the Limited Review Report by the Statutory Auditors. 2. Certificate for receipt and noting of information from IDBI Trusteeship Services Ltd. under Regulation 52(5) of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015. The above are also being uploaded on the website of the Company at www.sail.co.in, Thanking you, Yours faithfully, For Steel Authority of India Limited (Mc fam ED(F&A) & Secketary Enel. As above. Were ey, ofl ts, wg Reh 1100003, gree : 011-2636 7481-86 orm : 012-2036 7015, eMMFE + wowwsall.coin 'spat Bhawan, Lodi Road, New Delhi110 003, Phone : 011-2436 7481-86, Fax : 011-2436 7015, Website: worw:sailco.in PAN No, AACS7O62F. Corporate identity No. 127108014973 GoIoD6ss4 Prd iret ger gan # is There's a little bit of SAIL in everybody's life‘STEEL AUTHORITY OF INDIA LIMITED [REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110003, Statement of Standalone Unaudited Financial Results for the Quartor Hal Year ended 30tn September 2016 eCrore| [i Parca T ‘Guar ended Tal Vear ended ‘ein September] 30th June [Sih September 30m Soptambar] 30% September] 2018 2016 2018 2046) 2016, (unaudited & (unaucited & ‘ot subject to| ot subject to review) (ofr review) (oer (Unsucied) | note) | amsnes) | note 4) 1 [income From Operations a) income rom Operations! Gross Sates yaasiz| —torrgsz|—oaz9s0 | zapin2t} 07728 Other opera income 14631 165.75 ‘sagor| 30208 20827 Hetat income trom "a577.60 | fosse.e7 javasi | —masts.27 | Fiowo.6 7 [expenses la) Conte watenas consumes 15260 sesoa2 ose) 082 82 9209 55 lo Pwrenaee of Stock in Trede 000 0.00] 0.00. ‘000 3.90 [changes in metanes oF Fisted Goons, Wor in Progress 1506.80, ozs} 2428} rise [1748825] ‘end Stock It Tage, |) Employee Benes Expense 213495 230055 zerito| 482350 aerers| |) Depreciation e587 0021 523.38 1286.08 90022 I) Power & Fut sz7037 aa545 131683 2396 «2 2597 57| ja) Fxcse Our 1382.00 1087 8 vais] 2850 230021 |n, Omer Expenses, Es Bs 2046.88 goerer| _guasas| _aras.46 443268 [Total Expenses. ia1az0e[ ——ovea.a1 | aaeae.11 | ——sansa.t6 | 3000.70 3 [Profit (Lous) trom Operation betore Other come, Finance Cont, (e440) (aee4a]——(asy. 20) (e20sey (1818.8) [exceptional ners and Tax (12) [other income — et a sear | _ tera 06.50 3 _[Pront/{Loee] before Finance Cov, Excentonal ime sn Tax G4) (ase20 (27718) sso] res.an| 11513 20) [Finance Cost 160276 | seas [san 1106 91 [1048.25 7 [Profit (Loss) after Flaance Costs but before Exceptional name and} ‘ras (54) 1089.08) 97129) __908e06)| __1se0.2m| (2582081, 7 [exceptional em Volantary Retremert Compansation 18401 e420 oa 21621 2.00, [Prot hoes etoe Tas 8 i288 08] akan] ieseee)| —at7e.45| 862 05} | (2) Deterrae TaxAssetey s2147 69.80 soon ou38 206 3 ‘SubToa (eat) (G08. gs003)| (914. 36)| (4296.39) Ty_|Ret Profit Loe) after Tax (2-10) (38.82) —(10804)/ (1287 vo (1385 74) 12 ]Net Profit (Coes) forthe period (3682) (10800)] (1287.10) (135574) 13. |Otner Comprehensive Income /(Lovs) ater tax oss 080 (0s) 143 sn] 14 [Net Proft after taxes and Other Comprehensive incom afer x oso suas (110885) (t2ese0] (1386.98) \2e43) 15. fequty Save Capit ‘3053 assoss} —et3083| argos) 03] | Face valve € 10 per share) 16 [Basic ana Ontes Eamings par Share (ot € 10: eacn) an| 130) 208) sor! 2a 1 intrest Ses i ee 051 130) Na SR A a RT/ STEEL AUTHORITY OF INDIA LIMITED | REGISTERED OFFICE: ISPAT BHAWAN, LOD! ROAD, NEW DELHI 110003 Jeet xract of Standalone Unauditog Financial Results fr the Quarter” Half Year enced 300h September 2016 I | ‘sce Pa ira’ ened TT “iin Sepiembe | 30M June [30% Sapien ame 218 ane (unaudited & ot subject to| review) ter amines) | Wnaudinay | "not 2) * | rota income tom Operations sesrrco| soas567| _sosre9n| _za01327| 21040 06 2 [Net Prot (Los) forthe Ped (etre tx, Exceptional and /er |< {ecacrsnary tome “| ose0a] 187120] _sse08)| 1960.25] 256208) 2 [Net Pron (Los) forte Penod beter tx (ater Exceptional end ce (2 [eeraccenary tems. 258.05] __2s.eu)| (1808.06) _(2178.46)|__ (256205 (4. [net Prt (oss) tor ne Poros ane ax ar Exceptional and/or [Eeracrsnay tons) 731m, (53882, (rt08.0m| _(2s710)| (1388.74 "ota Comrehensiva core Torte ped Coripang PRCT 5 | Less) toe porod (ater ax) and othe Compmansive come ater tt _ 73972] __ossa9ay, _¢s108.85)|__26s60y) (1365.98 © leu share Canta! aiv9s9|__ara05a|__ara0s9|___arapsa|__ 4190.53 17. learnings per Snare (ot 710% eoeh) (For santaung ad acontnved lerstont) = (in) "Bose an axl 20 a7 224] a7 3 268 2a 32 ‘Note Te above an era ot ening at of Guy ean ena id th Sn changes ae Ren 33 oP SE tng ra er ‘cue Romremara) Raparsrs, 1016 To koma ofthese veal Rents esau oe Sack cage wats ASE SUBSE tm esr ca od ‘toon con reaped ar nee ver Raat Secon Caan webs nal Not 2 The NO AS Fran Rant Qu iat Your onde Septem, 201800 ped nso au Hoeva Maragore hs exe eceay Sige ons atom Fran Rests poe soar ono eain sree AN AS Fer and on behalf of Bose of Dirsors Place New eth (Ani Ku Chaudhad) __Daed 8° December, 2016 Director (Finance)STANDALONE STATEMENT OF ASSETS AND LIABILITIES “TOTAL EQUITY AND LIABILITIES wy Crore ‘As at 30th ‘September 2016 ie (Unaudited) [ASSETS Non Current Assets (a) Property, Plant and Equipment 44205.15 {b) Capital Work-in-Progress 2584713 {c} Investment Property 092 (a) Intangible assets. 1565.49 He) Financial Assets {i} Investments 1294.02 {i) Trade Receivables eae (ii) Loans. 141.48 (iv) Other Financial Assets 677.93 (f Deferred Tax Assets ( Net ) 2710.17 (g) Non current tax assests (net) 266.77 (h) Other non-current assets 3110.64 ‘Non - Current Assets. 79858.56 Current Assets (2) Inventories 14138.06, (0) Financial Assets (i) Trade Receivables 3127.67 {i Cash and cash equivalents 96.93 (ii) Bank balances other than (i) above 167.86 {iv) Loans, 87.23 (v) Other Financial Assets, 3379.06 (c) Current tax assests (net) 5.03 (6) Other Current Assets 2053.75 e} Assets classified as held for sale 21.48. Current Assets. 2307.07 TOTAL ASSETS, 100935.63 EQUITY AND LIABILITIES ‘Equity (a) Equity Share Capital 413053 (b) Other Equity 3520.68, Equity 37641.21 abilities INon-current liabilities (a) Financial abilities (i) Borrowings 1817.85 (il) Trade Payables. 739 (ii) Other Financial Liabilities 1455.14 (0) Long Term Provisions 3319.38 (6) Other non-current liabilities 100.84 Non - Current Liabilities 73060.60 ‘Current liabilities (a) Financial Liabilities {i} Borrowings 1871055 {il) Trade Payables. 4595.48 (ii) Other Financial Liabilities 1259.63 tb) Other current liabilities 5955.88 Kc) Provisions 2700.38 (a) Current Tax abilities (net) 11,90 Current Liabilities 4023.82,[SEGMENT REVENUE, RESULTS, ASSETS AND LIABILITIES F Gar Ene a Wana Rhee ates | ete | ee eo a usu sn cunastes ne a otecia |__| norte ‘ormior) sem unmamay | unawansay | geverron | qansanea |" now a =o c|> 2a sino] sana] come] ratte = Daou sna Prt -- tera fauces| testes] Smnor) Suet arte Seat Pat aon Bel | “ie mm aera fxs tna Fae mma ira] | ma] Samm] ana S00 oe rt Bea are ‘rzs)—‘sanse] ata] ‘acm See hart soe sore) = me] aes) a Varner on & Sia et : ‘ol wa ‘onl ~~ arate Via sogre eae ‘ston at] ——Taeagag} —Treagze]—ns | 39 {cree Sopmert Svan va wes) aay] emer] arn It ae nama om Sprains wre| se) ware] ators] aoa [sates esa ran ot) Sar TS AESCOPOOAT ROY a TR na te Poe ra woz] ass] amo] aos ager oe Pt ss] Cot eee a aor er arte Sea ant feos) eoszi| Gite] nD) ase] Sou Sect 010} sere] sea mis] ota sco smart sca em) Gana] aesa] ia] Ay Sos Pt or] ass] “e336] ooo) “usa ‘Sen Setar e239] cro] ae] aa] ‘nero Fon Sil Part {esoo] S20] esa] eoss| san] one we tore] feean| some | Tar eos] Brie] son] rs ea} — Tso] tee Exper ‘eave ‘oce) “Som] Soe ee Escoptonn tent Love (ai) ‘ren err Consens. es ‘seo 20 o@| a2 000 Prot (aa) oor Tat Tass was] —— Coo] —— ee ws] — eros] ayn sata a Si Pt case] auassa] —sasaza] tana] soma ‘upaps Sve ant sec ‘sooa] tassel saseel “Sosa Cae Ses roe Bees occas] laeuce:| areas] “towesae| ara SEO so Pe frercs| tomes] atu] raves] oom oy Ses st eee geet vere] “woae] ~etezy] aos ‘Mvmt aseaPait “oan Ee ee esomen nn in Setar ease crs] suc] carr] coma anes St rt a Suse] Swtas] ot] asa tetas Sina Pat 2s srs] esto] saa] ass ce Su Pe tesco tae] trae] eiaoa] arr oy ta Pat pr ‘seae| —“zaran]_“zgee| “asa Meeoerye ron dSet Pit sia were) met] tera] taal Sree was| — mova| aso] zromes| asta Toa oe teal eisai an [opetsng Soprets avo ben Herd new NDA 08 ing Segre,Notes to Financial Resul 1. ‘The above results have been reviewed by the Audit Committee in its meeting held on 8" December, 2016 and were approved by the Board of Directors in its meeting of date. 2. The above results have been reviewed by the Statutory Auditors, as required under Clause 33 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015. 3. The financial results do not include figures for the previous year ended 31° March, 2016 as per SEBI's circular No. CIR/CFD/FACI/62/2016 dated 5" July, 2016. 4, As per the requirements of the Companies Act, 2013, the Company adopted Indian Accounting Standards (Ind AS) from Ist Apri! 2016 and accordingly the quanerly and half yearly financial results have been prepared in accordance with the recognition and ‘measurement principles laid down in the Ind AS 34 - Interim Financial Reporting prescribed under section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India, The date of transition to Ind AS is I" April, 2015. The impact of transition has been accounted for in the opening reserves and the comparative periods have been reinstated accordingly. The Ind AS financial results for the quarter and half year ended 30% September, 2015 have not been subjected to a limited review or audit. However. management has exercised necessary diligence to ensure that the financial results provide true and fair view of the results in accordance with Ind AS. ‘A reconciliation of standalone financial results to those reported under previous Generally Accepted Accounting Principles (GAAP) is summarised as follows: crore Particulars For the quarter | For he Hal ended 30° fear ende 30th September, | Seotember, had 21s (Loss ) after tax as reported under previous GAAP (1,055.96) (0,377.60) | \djustments on account of: Measurement of derivative and embedded derivatives forward | | sontacts a fair value through profit and loss ssesee| (38.57) | ____ (40.42) | | Recognition and measurement of certain arrangements and fesse land as finance lease Buea Lay | 9.39) F Capitalisation of major repairs and capital spares 624) [89 60 { Measurement of financial assets and liabilities at amortised | | cost __ (6.77 | Others 3.67 | Deferred tax impact 0 2a9s| otal | | (Loss) after tax as reported under Ind AS Other Comprehensive Income (OCD: | Measurement of equity (0.57)5. Net Sales include sales to Government Agencies recognised on provisional contract prices during the Half Year ended 30” September, 2016: €1820.93 crore (corresponding half year of previous year: 1571.04 crore) and cumulatively upto 30" September, 2016: %15698.71 crore (upto the corresponding quarter of previous year : €11269.61 crore). 6. (a) The Nine Judges Bench of Hon'ble Supreme Court, vide its judgment dated 11.11.2016, has upheld the constitutional validity of levy of Entry Tax by the States and has laid down principlesitests on levy of Entry Tax in various States. The respective regular benches of the Court would hear the matters as per laid down principles. Pending decision by the regular benches of the Court on levy of entry tax in the States of Chhattisgarh, Odisha, Uttar Pradesh and Jharkhand, the Entry Tax demands, under dispute, of €1092.35 crore, 2358.42. crore, 297.22. crore and %5.15 crore upto 30" September, 2016 (upto 31” March, 2016- %1091.02 crore, 2341.15 crore, 297.22 crore and & Nil) respectively, have been treated as contingent liabilities. (b) Pending final decision by the Hon'ble Calcutta High Court of the West Bengal, in the case of levy of entry tax in West Bengal, the disputed Entry Tax demands of 181.89 crore (upto 31* March, 2016- 150 crore) have been treated as contingent liabilities 7. Pending decision by the various judicial authorities in the determination of the electricity tariff, claims of 2543.05 crore upto 30” September, 2016 (upto 31” March, 2016- %491.27 crore) made by Damodar Valley Corporation (DVC) in respect of electricity supplied to one of the Plants of the Company, have been treated as contingent liabilities 8. _Inone of the Unit of the Company, the inventories of 0-3 mm and 0-12 mm sizes of Silico Manganese and High Carbon Ferro Manganese, amounting to 166.60 crore, have been valued based on third party report. 9. The Auditors, in their Audit Report on the Accounts of the Company for the Year ended 31" March, 2016, have brought out that the Company has not provided for = a). Entry Tax amounting to 297.22 crore in the State of Uttar Pradesh, 71091.02 crore in the State of Chhattisgarh and 2341.15 crore in the State of Odisha; b). Claims of 491.27 erore by DVC for supply of electric In respect of items stated at (a) above , the Company’s view is that the Nine Judges Bench of Hon'ble Supreme Court, vide its judgment dated 11.11.2016, has upheld the constitutional validity of levy of Entry Tax by the States and has laid down principles/tests on levy of Entry Tax in various States. The respective regular benches of the Court would hear the matters as per laid down principles. Pending decision by the regular benches of the ‘Court on levy of entry tax in the States of Chhattisgarh, Odisha, and Uttar Pradesh, the Entry Tax demands. under dispute, have been treated as contingent liabilities. In respect of items stated at (b) above, the Company’s view is that the cases are sub-judice and pending for adjudication before the various judicial authorities for a long time. There is nu change in the status of these cases till date. The above stated disputed demands. contested on valid and bonafide grounds. have been treated as contingent liabilities as it is not probable that present obligations exist as on 30" September. 2016. Therefore, there is no adverse impact on loss for the half year,10. In respect of advance amount of £311.79 crore paid to Indian Railways by way of refundable contribution, with return of 7% of investment at the end of every year after fulfillment of certain milestones, on completion of project, Management is confident of accomplishing the milestones. As there is no significant uncertainty as to measurability or collectability, interest income of 23.44 crore during the current quarter (upto 30” September, 2016- 50.71 crore) has been recognised. The Company has approached the Expert Advisory Committee of the Institute of Chartered Accountants of India to confirm the accounting, treatment of the same. 11. In view of the various measures being implemented by the Government to uplift the Steel Industry and boost the demand, coupled with steps being taken by the Company to reduce the cost, improvement in the efficiency/productivity, the Company is certain that it will be able to improve its physical and financial performance in future. Accordingly, the Company is of opinion that it is probable that sufficient future taxable profit would be available against which the unabsorbed tax losses can be set off consequent to which the deferred tax assets (net) of 1630.67 crore have been recognised as of 30 September, 2016. 12, Formulae used for computation of coverage ratios : Debt Service Coverage Ratio = Earnings before interest. exceptional items and tax/principal repayment and interest payment of long terms loans; and Interest Service Coverage Ratio = Earnings before interest, exceptional items and tax/interest including transferred to Capital Work in Progress. 13, The figures of previous year’s Quarter/Half Year have been re-grouped/reclassified, Wherever necessary, 50 as to conform to the current Quarter’s classification. For and on behalf of Board of Directors Place: New Delhi ( Anil Kufnar Chaudhary ) Dated: 8" December, 2016 Director (Finance)1. | Mis. Singhi & Co, __|2.| M/s. Chatterjee [3.[ M/s. AKSabat 4. Chartered Accountants, | | & Co., &Co. B Old Post Office Chartered Chartered Street Kolkata, Accountants, Accountants Accountants, Kolketa-700001 153, Rash Behari 8/348, Sahid LENS, Avenue, 3" Floor, ‘Nagar, , Jhandewalan Kolkata-700029, ‘Bhubneswar- Extension, 751007. Ne i -= _—_L.110056 Independent Auditors’ Review Report To ‘The Board of Directors, Steel Authority of India Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results ("Statement") of Steel Authority of India Limited (‘the Company’) for the quarter and half year ended 30" September, 2016 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. Attention is drawn to the fact that the figures for the corresponding quarter and half year ended 30" September, 2015, including the reconciliation of loss under Indian Accounting Standards (“Ind AS") of the corresponding quarter and half year with loss reported under previous GAAP. as reported in these financial results have been approved by Company's Board of Directors but have not been subjected to review by us. 2. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on this statement based on our review. 3. We did not review the financial results of 8 branches included in the statement of unaudited standalone financial results of the Company. The financial results of these branches have been reviewed by the branch auditors whose review reports have been furnished to us, and our conclusion in so far as relates to the amounts and disclosures included in respect of these branches. is based solely on the review report of such branch auditors. 4. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410. “Review of Imerim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India, This standard requires that we plan and perfor the review to obtain moderate assurance as to whether the financial statements are free of material misstatement, A review is limited primarily to inguiries of Company get and analytical provedures applied to OAH. We have nor periymed an audit any *\ 5 edo: nor express an audit opiainn SANGRE, a55. Basis for Qualified Conelusion 1. The Company has not provided for : (D entry tax amounting to Z 1092.35 crore (current quarter % (-) 0.08 crore and current half year 21.33 crore) in the state of Chhattisgarh, €358.42 crore (current quarter 86.59 crore and current half year 817.27 crore) in the state of Odisha, €97.22 crore (current quarter Nil crore and current half year & Nil) in the state of Uttar Pradesh, 7181.89 crore (current quarter 15.82 crore and current half year %31.89 crore) in the state of West Bengal and 85.15 crore (current quarter & Nil crore and current half year Nil) in the state of Jharkhand. (refer note no. 6(a) and 6(b)): (ii) Amount paid to Damodar Valley Corporation (DVC) against bills raised for supply of power and retained as advance to DVC by Bokaro Steel Plant amounting to %543.05 crore (current quarter 824,70 crore and current half year %51.78 crores) has not been booked as expenditure in Statement of Profit and Loss but disclosed as contingent liability. (Refer Note No. 7); UI The Company has recognised an interest income of % 50.71 crore till 30th September 2016 (for current quarter ®3.44 crore and for the current half year %6.69crore) in relation to contribution given to Indian Railways for construction of rail link between Dalli Rajhara and Rowghat, pending significant uncertainty (refer note n0.10); Had the above impact been considered, there would have been an increase of loss by 2328.79 crore (net of tax %1522.84 crore) in addition to reported loss after tax of 1267.10 crore. 6. Qualified Conclusion Based on our review conducted as above, with the exception of the matters described in the Basis for Qualified Conclusion paragraph No.5 above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results, read with notes on accounts thereon, prepared in accordance with applicable Indian Accounting Standards (“IndAS") prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015 as modified by Circular no, CIR/CFD/FAC/62/2016 dated 5" July. 2016. including the ‘manner in which itis to be disclosed, or that it contains any material misstatement7. Emphasis of Matter We draw attention to the following: (Net sales include sales to Government agencies which are recognised on provisional contract prices. (refer note no. 5); (ii) In Chandrapur Ferro Alloy Plant, for valuation of closing stock of inventory, the ‘market rate considered to substantiate the net realisable value is based on report of third party. (refer note no. 8); (iii) Recognition of Deferred Tax Assets on accumulated losses in view of probability of sufficient future taxable profits available. (refer note no. 11) Our opinion is not qualified in respect of these matters. For Singhi & Co. Chartered Accountants Firm Registration No. 302049 LS Pevarusel | J (Shrenik wena) Ce Partner M.No.063769 For A.KSabat & Co. Chartered Accountants Firm Registration No. 321012E Place: New Delhi For Chatterjee & Co. Chartered Accountants Firm Registration No. 302114E Flan (RN. Basu) Partner M.No.050430 For V.K. Dhingra & C Chartered Accountants Firm Registration No, 000250N NOR, Se (Vipul Girotra) Partner M.No, 084312ia aR site eftsar fafaes STEEL AUTHORITY OF INDIA LIMITED Date: 8" December, 2016 BSE Limited National Stock Exchange of India Ltd Floor 25, P J Towers Exchange Plaza, Bandra-Kurla Complex, Dalal Street Bandra East, Mumbai Mumbai 4 Scrip Code: 50013 Sub: Compliance under regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Dear Sir With reference to the captioned subject, we are furnishing the details as required under regulation 52 (4) of Listing Regulations for the quarter and half year ended 30” September, 2016: ‘SI.No. | Particulars Half Year ended] Year ended 31] 30" Sept, 2016 | March, 2016 ‘@)__| Credit rating | -by CARE Ratings [GARE AAt CARE At by India Ratings. = IND AAA -by Brickwork Ratings — BWR AY = By | Asset Cover Available 2.30 236 (Times) —e)__| DebtEquity Ratio 0364 0.854 f)__| Debt Service Coverage Ratio (0.38) (1.79) ‘9) | Interest Service Coverage (051) (91) Ratio hy | Outstanding redeemabie Nil Ni ___| preference shares ee aera |) J Debenture redemption 1662.21 1448.96 reserve (Rs. in crore) ssl eee [Tet Worth (Rs. in crore) 37629.95 39281.26 [ky] Net Profit/Loss(-) after tax (3) 1267.10 {-) 4137.26 (Rs. in crore) _ (d & e) Previous due date and next due date of payment of interesUrepayment of Principal of Non-convertible Debt Securities: [ranches Series Previous Ove Date Next ue Date | Interest | Principal | Status | Interest _| Principal [aviissuE (i SERIES) | AE O1-May.16 Paid | 01-May-17 1 [anxissue (1- SERIES) | AF May 16, Paid | 14-May-17 | XX ISSUE U- SERIES) | AG 22un-16 Paid_| 22-Jun-17 XXI ISSUE (I- SERIES) AH 11-Aug-16 Paid 11-Aug-17 XXILISSUE(J- SERIES) [Al 25.Aug-16 Paid_| 25-Aug-17 Fema wr, atl ats, af Reel 110003, gw : 011-2836 7481-86 drm: 012-2435 7025, eeMfe : wwwsal.co.in Ispat Bhawan, Lodi Road, New Delhi-110 003, Phone : 011-2436 7481-86, Fax: 011-2436 7015, Website : wwwsail.co.in PAN No, ARACS7O062F Corporate identity No, 127108011973 GOI0064s¢ 8 Pe a Rid ge gon 2 ot There's a littie bit of SAIL in everybody's lifeXXIILISSUE (I SERIES) _| AJ-11&1_| 15-Sep-16 Paid | 15-Sep-17 XXIV ISSUE (F SERIES) | AKI 26-Oct-16 | 26-0616 | Paid | Redeemed | Redeemed | AKIVIO XXIV ISSUE (I. SERIES)_| Xil 26-Oct-16. Paid | 26-Oct-17 XXV ISSUE (|- SERIES) _| AL 49.NovA5, Paid _| 18-Nov-16 zi XXVIISSUE (1- SERIES)_[ AMI 07-Dec-15, Paid | 07-Deo-16 | XXVILSSUE (I- SERIES) | AN 30-Dect5, Paid | 30-Deo-16 | XXVIILISSUE (F SERIES) 40 O1-Feb-16, Paid | 01-Feb-17 “1 XXIK ISSUE (|: SERIES) | AP 23-Apr-16 Paid _| 23-Apr-17, [poocissue (1. SERIES)_['AQ 30-Apr-16 Paid_| 30-Apr-17, XXXI ISSUE (- SERIES) | AR 23-Aug-16 Paid | 23-Aug-17 | XXXILISSUE (| SERIES) | AS (09-Sep-16 Paio_| 00-Sep-17 YOMINISSUE (TOV. | ATITOV SERIES), 81-5 | 25-May-16 Paid | 25-May-17 ] XXXIV ISSUE (F- SERIES) AU. 27-Aug-16, Paid | 27-Aug-17 XXXVI ISSUE (F | SERIES) aw? 06-May-16 Paid | 06-May-17 XXXVI ISSUE (F SERIES) | AX 14-Oct-16 Paid | 14-Oct-17 XXXVI ISSUE (F SERIES) AY 16-Dee-15, Paia_|_16-Dec-16 XXXIK ISSUE (F- SERIES) Az 2tndan-16 Paid | 21-Jan-17 ISSUE (|. SERIES) BA 15-Apr-16, Paid | 15-Apr-17 ISSUE (|- SERIES) BB. 08-Jun-16 Paid | 09.lun-t7 ISSUE (I- SERIES) BC 27S, Paid [27-Jul-47 al ISSUE (I- SERIES) BD 10-Aug-16 Paid | 10-Aug-17 ISSUE (I- SERIES) BE 25-Aug-16 Paid | 25-Aug-17 ISSUE (I- SERIES) BF 49.Nov-16 NA_| 19-Nov-17 ISSUE (I- SERIES) BG Issued on 01-Aug-16 [NA | 01-Aug-17 ISSUE (F- SERIES) BH Issued on 03-Aug-18 | NA | 03-Aug-17 * The Company has exercised the “Put Option” as per terms of the issue which 06.05.2016. The redemption proceeds of Rs.555 crore alongwith interest were Bondholders who exercised "Put Option” “Rs.14 crore of AK Series will be redeemed every year till 26" October, 2025. was due on paid to the The letter is being submitted as required under regulations 52 (4) & (5) of Listing Regulations. Kindly take the same on record. Thanking you, Yours Faithfully, For Stee! Authority of India Ltd pire (MC Jain) ED(F&A) and SecretaryIDBI Trusteeship Services Ltd CIN : U65991MH2001GOI131154 No. 3265/ITSL/OPR/16-17 December 08, 2016 Steel Authority of India Lud Madhvi Vashist AGM (Board & Company affairs) SAIL, 2ad Floor, tspat Bhawan, Lodi Read, New Deli -110003. Ki Attn: Nayana Singh Dear Sir, Cortifieate for receipt and noting of information Pursuant to Regulation 52(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2 rmited (“Debenture Trustee") hereby confiem that we have received and noted the information, as specified under segulation $2(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 (“Regulations”), provided cous by Steel Authority of India Led (“che Company") for the half yearly financial year ended September 30. 2016, We, IDBI Trusteeship Service ) of the aforesaid This Certifieate is being issued pursuant to the requirements of regulation Regulations, for onward submission to Stock Exchange(s) by the Company for IDBI Trusteeship Services Limited Regd, Office : Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400 001. Tel. : 022-4080 7000 + Fax : 022-6631 1776 « Email: ttsI@idbitrustee.com + response@iabitrustee.com Website : ww.idbitrustee.com