INDIA STEEL

WORKS LTD
Inner Vision. Global Action.

COSEC/BSEI17
41hFebruary, 2017

The Manager,
Corporate Relationship Department,
The Stock Exchange, Mumbai
PJ. Towers, Dalal Street,
Mumbai- 400 023

Scrip Code: 513361

Dear Sir,

Subject: Un-Audited Financial Results for the quarter ended 31st December, 2016

This is to further to our letter dated 241h January, 2017 intimating the date of Board Meeting for
considering the un-audited financial results for the quarter ended 3151December, 2016.

The Board meeting commenced at 4.30 p.m. and concluded at 6.45 p.m.

Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosures Requirements)
Regulations, 2015, the Board of Directors at its 5th Board Meeting held on Friday, 3rd February, 2017
has approved the Un-Audited Financial Result for the Quarter ended 31 st December, 2016.

We attached herewith the copy of the following:

a) Statement of Un-Audited Financial Results and segment wise Revenue Result for the Quarter
ended 3151 December, 2016.
b) Limited Review Report for Un-Audited Financial Results for the Quarter ended 3151
December, 2016.

Request you to kindly take the above on record.

Thanking you
Yours Faithfully,
For ia Steel Works Limited

Sudhir H. Gupta
Managing Director
DIN: 00010853
Encl.: as above

(Formerly known as ISIBARS LTD.)

OFFICE info@indiasteeLin
REGD. OFFICE & STEEL PLANT www.indiasteel.in
Zenith Compound Khopoli, India Steel Works Limited,
Raigad - 41 0203, Maharashtra, India 1101, Tower 2, India bulls Finance Centre,
T:+912192265812 F:+912192264061 Senapati Bapat Marg, Elphinstone (W), Mumbai - 400 013

CIN: L291 OOMH 1987PLC043186 T:+91 224910 2000 F:+91 2249102099

 INDIA STEEL
WORKS LTD
Inner Vision. Global Action.

INDIA STEEL WORKS LIMITED

. I [Formerly ISmARS LIMITED]
I REGD. OFFICE: India Steef Works Complcx,Zcnith Compound,Khopoli, Raigad 410203
Statement of Standalone Unaudited Financial Results for the Period ended 31st December 2016

PART-I Rs. In Lacs

YEAR
ENDED
Sr. No. Particulars Quarter ended (Unaudited) Period ended (Unaudited) (Audited)

311Dec/2016 30/Sep/2016 311Dec/2015 3lfDec/2016 31IDec/2015 311Mar/2016

I (a) Gross Sales/Income from Operations 32,631.49 28,861:66 14,994.19 85,828.64 45,219.97 63,360.48
(b) Other Operating Income 9.27 48.55 419.89 59.07 609.24 1,047.09
Total Income from Operations 32,640.76 28,910.20 15,414.08 85,887.71 45,829.21 64,407.58
2 Expenses -
(a) Cost of Materials Consumed 11,054.08 11,553.02 7,804.21 33,069.18 22,214.00 31,631.02
(b) Purchases of Stock In Trade 15,276.34 13,976.33 2,857.98 40,527.85 12,457.43 17,701.86

Changes in inventory of finished goods, work in progress

and stock in trade. 4.52 (2,258.94) (150.27) (4,567.44) (2,442.40) (3,359.95)
(d) Employees Benefits expense 568.05 488.33 530.05 1,597.80 1,609.42 2,136.15
(e) Depreciation and amortisation expenses 459.50 452.00 531.69 1,360.54 1,344.61 1,791.99

(f) Other Expenses 4,814.29 4,336.96 3,491.38 12,727.97 9,706.04 13,294.83

Total Expenditure 32,176.79 28,547.70 ]5,065.05 84,715.90 44,889.09 63,195.90
Profit/(Loss) from Operations before Other
3 Income,Finance Cost and exceptional items ( 1-2 ) 463.97 362.50 349.03 1,171.81 940.1I 1,211.68

4 Other Income -
Profitql.oss) from Ordinary activities before Finance Cost
5 and exceptional items ( 3-4 ) 463.97 362.50 349.03 1,171.81 940.11 1,211.68

6 Finance Costs ( 5-6 ) 305.93 209.41 320.78 776.49 763.93 985.72

Profit'(Loss) from Ordinary activities after Finance Cost
7 but before exceptional items 158.04 153.09 28.26 395.32 176.18 225.96
8 Exceptionalltems - - - - - -
9 Profit/tf.oss) from Ordinary Activities before tax (7-8) 158.04 153.09 28.26 395.32 176.18 225.96

10 Tax Expense - - - - - (178.03)

Net Profitz(Loss) from Ordinary Activities after tax (9-
11 10) 158.04 153.09 28.26 395.32 176.18 403.99
12 Extra-ordinary items (net of tax expense Rs. /- ) -
13 Net Profit/CLoss) for the period ( 11-12) 158.04 153.09 28.26 395.32 176.18 403.99
Paid-up Equity Share Capital
14 [face value ofRs.lI- per share - 3,980.81 3,980.81 3,980.81 3,980.81 3,980.81 3,980.81

(Formerly known as ISIBARSLTD.)

REGD. OFFICE & STEEL PLANT OFFICE info@indiasteel.in
Zenith Compound Khopoli, India Steel Works Limited, www.indiasteeLin
Raigad - 410 203, Maharashtra, India 1101, Tower 2, Indiabulls Finance Centre,
T:+912192265812 F:+912192264061 Senapati Bapat Marg, Elphinstone (W), Mumbai - 400 013
CIN: L29100MH1987PLC043186 T: +91 2249102000 F:+91 2249102099


INDIA STEEL
WORKS LTD
Inner Vision. Global Action.

Reserves excluding Revaluation Reserves as per Balance

15 Sheet of previous accounting year - - - - -
Earnings per share ( Before extra ordinary items) of Rs.II-
16 (i) each not annualised. -
a) Basic 0.04 0.04 0.01 0.10 0.04 0.10
b) Diluted 0.04 0.04 0.01 0.10 0.04 0.10
Eamings per share ( After extra ordinary items) of RS.I!-
(ii) each not annualised. - -
a) Basic 0.04 0.04 0.01 0.10 0.04 0.10
b) Diluted 0.04 0.04 0.01 0.10 0.04 0.10

PART -II A PARTICULARS OF SHAREHOLDING

I
17 Public Shareholding as on 31/Dec/2016 30/Sep/2016 31/Dec/2015 31/Mar/2016
Number of shares 199486898 199486898 199486898 199486898
Percentage of shareholding 50.11% 50.11% 50.11% 50.11%
18 Promoters and promoters group shareholding
a) Pledged /Encumbered
- Number of shares 46187600 46187600 46187600 46187600
- Percentageof shares (as a % of total shareholding of
promoter and promoter group) 23.26% 23.26% 23.26% 23.26%
Percentage of shares(as a % of total share capital of the
Company) 11.60% 11.60% 11.60% 11.60%
b) Non-encumbered
- Number of shares 152406427 152406427 152406427 152406427
- Percentageof shares (as a % of total shareholding of
promoter and promoter group) 76.74% 76.74% 76.74% 76.74%
Percentage of shares( as a % of total share capital of the
Company) 38.29% 38.29% 38.29% 38.29%

PART -II B INVESTORS COMPLAINTS

9 Months ended 31st December 2016
'(i) Pending at beginning of Quarter: 0 , ii) Received during the Quarter: 0
I iii) Disposed off during the Quarter: 0 ; (iv) Lying unresolved as on 31 SI December, 2016: O.
NOTES
1 The above results ~ere reviewed by the Audit Committee and taken on record by the Board of Directors of the
Company at its meeting held on 3rd Feb 2017
2 The Statutory Auditor has carried out limited review of the above results.
3 The Company is exclusively in the Steel Business Segment and as such there are no reportable segments as
defined by AS-17 on segment reporting, as issued by the Institute of Chartered Accountants of India [ICAI]
4 The figures for the last quarter for the current and previous year are the balancing figures between the audited
figures in respect of the full financial year up to March, 2016 and the unaudited published year-to-date
figures up to December 31, 2016 being the date of the end of the third quarter of the financial year, which
were subject to limited review.
s Figures for the previous accounting period have been regrouped wherever necessary.

Date: 3rd February 2017 For IND~EL WORKS LIMITED

/f /JJ Alh '17
---r
.~

Place: Mumbai. I~
e:
rt--
Managing Director

(Formerly known as 151BAR5

LTD.)
REGD. OFFICE & STEEL PLANT OFFICE info@indiasteel.in
Zenith Compound Khopoli, India Steel Works Limited, www.indiasteel.in
Raigad - 410 203, Maharashtra, India 1101, Tower 2, Indiabulls Finance Centre,
T:+912192265812 F:+912192264061 -Senapatl Bapat Marg, Elphinstone (W), Mumbai - 400 013
(IN: L291OOMH1987PLC043186 T: +91 2249102000 F:+91 2249102099
v. K. Thanawala thQ~Qwala & CO.
B.COM., F.C.A
CHARTERED ACCOUNTANTS

Review Report to
Board of Directors
MIS. INDIA STEEL WORKS LIMITED

We have reviewed the accompanying statement of Un-audited Financial Result of MIS. INDIA
STEEL WORKS LTD. ("the company") for the quarter ended 31st December, 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, read with
Circular No. CIRlCFD/CMDI1512015 dated 30th November,2015 and CIRlCFD/FAC/62/2016
dated 5th July 2016.

The 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 these financial statements
based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE)
2410, Review of Interim 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 perform the review to obtain moderate assurance as to whether the financial
statements are free of material misstatement. A review is limited primarily to inquires of
company personnel and analytical procedures, applied to financial data and thus provides less
assurance than a audit. We have not performed an audit and accordingly, we do not express an
audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to
believe that the accompanying statements, prepared in accordance with the applicable Indian
Accounting Standards and other accounting practices and policies generally accepted in India,
has not disclosed the information required to be disclosed in term of Regulation 33 of the
SEBI(Listing Obligation and Disclosure Requirement) Regulations, 2015 read with Circular
No. CIRlCFD/CMD/15/2015 dated 30th November, 2015 and CIRlCFD/FAC/62/2016 dated 5th
July, 2016 including the manner in which it is to be disclosed or that it contains any material
misstatement.

Place: Mumbai
Dated: 03rd February 2017

505,abhay steel house, 5th floor, 22 - baroda street, iron market ,Mumbai - 400 009.
tel.no.: 23486679/23484336/6631 8590/6631 8591