SIEL Ld - Quarterly Results

RNS No 8319u
SIEL LIMITED
27th July 1998


UNAUDITED FINANCIAL RESULTS (PROVISIONAL) OF THREE MONTHS ENDED 30-6-98

                                                            (RS IN MILLIONS)
                                                               YEAR ENDED
                                         THREE MONTHS ENDED     30.09.97
SL    PARTICULARS                        30.06.98  30.06.97    (12 MONTHS)
NO

1     NET SALES                          1,325       987           4,299

2     OTHER INCOME                           2         5              77

3     TOTAL EXPENDITURE                  1,148       906           3,999

4     INTEREST (NET)                       124       127             461

5     GROSS PROFIT (LOSS) AFTER
      INTEREST BUT BEFORE
      DEPRECIATION, EXTRAORDINARY
      ITEM AND TAX                          55       (41)            (84)

6     DEPRECIATION                          25        25             105

7     PROFIT/(LOSS) BEFORE
      EXTRAORDINARY ITEM AND TAX            30       (66)           (189)

8     EXTRAORDINARY ITEM
      - INCOME                             255         -             644
      - EXPENDITURE                        100         -              -

9     PROFIT/ (LOSS) BEFORE TAX            185        (66)           455

10    PROVISIONS FOR TAX                    -          -              82

11    NET PROFIT/(LOSS)                    185        (66)           373

12    PAID-UP EQUITY SHARE CAPITAL         -           -             271

13    RESERVES EXCLUDING REVALUATION
      RESERVES (AS PER BALANCE SHEET
      OF PREVIOUS YEAR)                    -           -           2,032      


1. Extraordinary income represents Rs 255 millions being profit on account of
sale of balance 10% equity shares of Shriram Honda Power Equipment Limited

2. Extraordinary expenditure represents Rs.100 millions being the provision for
diminution in value of investment in subsidiaries. This has been referred to by
the Auditors in their report on the Companys Accounts for the Financial Year
ended September 30, 1997.

3. The relocation of Chlor-alkali and Vanaspati operations to Rajpura, Punjab
consequent to the closure of the SFFI unit is in process and the Chemical
operations are expected to commence before the end of the current accounting
year. 

4. The above results have been taken on record by the Board in its meeting held
on 27.7.98.


END

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