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Sterlite Industries (India) LimitedRegistered Ofce: SIPCOT Industrial Complex, Madurai Bypass Road,

T.V. Puram P.O., Tuticorin - 628 002, Tamil Nadu, India

Notice of 35th Annual General Meeting

NOTICE is hereby given that the Thirty-Fifth Annual General Meeting of the Members of STERLITE INDUSTRIES (INDIA) LIMITED will be held at the Tamira Club, Tamira Niketan, SIPCOT IndustrialComplex, Madurai Bypass Road, T.V. Puram P.O., Tuticorin 628 002, Tamil Nadu, on Friday, June 11,2010 at 12.30 p.m. to transact the following business:

1. To consider and adopt the Balance Sheet as at 31st March, 2010 and the Prot and Loss accountof the Company for the year ended on that date and the Report of the Directors and Auditorsthereon.

2. To declare dividend on equity shares of the Company for the nancial year 2009-10.

3. To appoint a Director in place of Mr. Anil Agarwal who retires by rotation and being eligible, offershimself for re-appointment.

4. To appoint a Director in place of Mr.Gautam Doshi who retires by rotation and being eligible, offers

himself for reappointment.

5. To appoint Auditors, to hold ofce from the conclusion of this Annual General Meeting upto theconclusion of the next Annual General Meeting of the Company and to x their remuneration.

Special Business

6. Increase in Authorised Share Capital

To consider and, if thought t, to pass, with or without modication(s), the following resolution as anOrdinary Resolution:

RESOLVED THAT pursuant to the provisions of Articles 4 and 48 of the Articles of Associationand Sections 13, 16, 94 and 97 and other applicable provisions, if any, of the Companies Act,1956 (including any amendments or re-enactment thereof), the Authorised Share Capital of theCompany be and is hereby increased from Rs.185 crores (Rupees One Hundred Eighty Five Crores)to Rs. 500 crores (Rupees Five Hundred Crores).

7. Sub-division of Shares

To consider and, if thought t, to pass, with or without modication(s), the following resolution as anOrdinary Resolution.

RESOLVED THAT pursuant to the provisions of Article 4 and 48 of the Articles of Association ofthe Company and Sections 13, 16, 94 and 97 and all other applicable provisions, if any, of theCompanies Act, 1956, (including any amendments thereto or re-enactment thereof) and subjectto such approvals, consents, permissions and sanctions, if any, as may be required from anyauthority, and subject to such conditions as may be agreed to by the Board of Directors of theCompany (hereinafter referred to as the Board, which term shall also include any committeethereof), consent of the Members be and is hereby accorded for sub-dividing the equity shares ofthe Company, including the paid-up shares, such that each existing equity share of the Companyof the face value of Rs. 2/- (Rupees Two) each be sub-divided into two equity shares of the face

value Re. 1/- (Rupee One) each and consequently, the Authorised Share Capital of the Companyof Rs.500 crores (Rupees Five Hundred Crores) would comprise of 500 crores (Five Hundred Crores)equity shares of Re. 1/- each.

RESOLVED FURTHER THAT pursuant to the sub-division of the equity shares of the Company, theissued, subscribed and paid up equity shares of face value Rs. 2 /- (Rupees Two) each, shall standsub-divided into equity shares of face value of Re. 1/- (Rupee One) each, fully paid-up.

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RESOLVED FURTHER THAT the sub-division of shares shall be effective and simultaneous with theallotment of Bonus Shares by the Board or as per the advice of the Stock Exchanges

RESOLVED FURTHER THAT the Board be and is hereby authorised to do, perform and execute all suchacts, deeds, matters and things as it may consider necessary, expedient, usual or proper to giveeffect to this resolution including but not limited to xing of the record date as per the requirementof the Listing Agreement, execution of all necessary documents with the Stock Exchanges and

the Depositories, Reserve Bank of India and/or any other relevant statutory authority, if any,cancellation or rectication of the existing physical share certicates in lieu of the old certicatesand to settle any question or difculty that may arise with regard to the subdivision of the equityshares as aforesaid or for any matters connected herewith or incidental hereto.

8. Alteration to the Memorandum of Association


RESOLVED THAT pursuant to the provisions of Sections 13, 16, 94 and97andall other applicableprovisions, if any, of the Companies Act, 1956, including amendments thereto or re-enactmentthereof, the Memorandum of Association of the Company be and is hereby altered as follows:

The existing Clause V of the Memorandum of Association of the Company be deleted by substitutionin its place and instead the following clause as new Clause V:

V The authorised share capital of the Company shall be Rs.500,00,00,000/- (Rupees Five HundredCrores) divided into 500,00,00,000 (Five Hundred Crore) equity shares of Re. 1/- (Rupee One)each, with the rights, privileges and conditions attaching thereto as are provided in the Articlesof Association of the Company with the power to increase and reduce the capital of theCompany and to divide the shares in the capital for the time being into several classes andto attach thereto respectively such preferential, deferred, qualied or special rights, privilegesor conditions as may be determined by or in accordance with the Articles of Association ofthe Company for the time being and to vary, modify or abrogate any such rights, privileges orconditions in such manner as may be permitted by the Companies Act, 1956, or provided inthe Articles of Association of the Company for the time being.

RESOLVED FURTHER THAT the alteration to the Memorandum of Association shall be effectiveand simultaneous with the allotment of Bonus Shares by the Board of Directors or a Committeethereof.

RESOLVED FURTHER THATthe Board of Directors of the Company or any Committee thereof beand is hereby authorised to do perform and execute all such acts, matters, deeds and things as itmay consider necessary, expedient, usual or proper to give effect to this resolution, including butnot limited to ling of necessary forms with the Registrar of Companies and to comply with all otherrequirements in this regard and for any matters connected herewith or incidental hereto.

9. Issue of Bonus Shares


RESOLVED THAT pursuant to the provisions of Article 116 of the Articles of Association of theCompany and upon the recommendation of the Board of Directors made at their meeting held onApril 26, 2010 (hereinafter referred to as the Board which term shall be deemed to includeany Committee of the Board of Directors formed for the time being to exercise the powers

conferred on the Board of Directors in this behalf) and pursuant to the applicable provisions of theCompanies Act, 1956, and in accordance with the Securities & Exchange Board of India (Issue ofCapital and Disclosure Requirements) Regulations, 2009 (the Regulations) and subject to suchnecessary approvals, permissions and sanctions, as may be required and subject to such terms

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and conditions as may be specied while according such approvals, a sum of Rs.168,08,00,844/- (Rupees One Hundred Sixty Eight crores and Eight lacs Eight hundred and forty four)out of thesum standing to the credit of share premium account, forming part of General Reserves of theCompany, be and is hereby capitalized and utilized for allotment of 1 (one) Bonus equity share ofRe.1/- (Rupee One) credited as fully paid up for every 1 (one) eligible existing fully paid (subdivided)equity share of Re.1/- (Rupee One) held by the members and accordingly the Board, be and ishereby authorized to appropriate the said sum for distribution to and amongst the members of

the Company whose names appear in the Register of Members or as the benecial owner(s) ofthe equity shares of the Company, in the records of the Depositories, at the close of business onsuch date (hereinafter referred to as the Record Date to be hereafter xed by the Board and onthe basis and that the Bonus Shares so distributed shall, for all purposes, be treated as an increasein the nominal amount in the Capital of the Company, held by each such member and not asincome.

RESOLVED FURTHER THAT the new equity shares shall be allotted subject to the Memorandum andArticles of Association of the Company and shall in all respects rank pari passuwith the existingsubdivided fully paid-up equity shares of the Company, with a right, to participate in dividend infull that may be declared after the date of allotment of these equity shares as the Board may bedetermine.

RESOLVED FURTHER THAT pursuant to Securities & Exchange Board of India (Issue of Capital andDisclosure Requirements) Regulations, 2009, such number of bonus equity shares as in the same

proportion (i.e. one new fully paid by equity share of Re.1/- for every one existing fully paid (sub-divided) equity shares of Re.1/- each held in the Company as on Record Date) be reserved infavour of the holders of the outstanding 4% Convertible Senior Notes (the Convertible Notes)issued by the Company, for issue and allotment at the time of conversion in respect of such ofthose Convertible Notes which may be lodged for conversion on or before the Record Date.

RESOLVED FURTHER THAT in respect of the outstanding Convertible Notes lodged for conversionafter the Record Date, the Board be and is hereby authorized to make appropriate adjustment inthe conversion rate of shares to be issued on conversion of such Convertible Notes in terms ofthe provisions of the concerned Offering Circular, so as to give the benet of the Bonus Issue, asaforesaid, to the holders of such outstanding Convertible Notes as well and to do all such things,deeds in this regard.

RESOLVED FURTHER THATthe Board be and is hereby authorized to capitalize the required amountout of the Companys General Reserve Account/Securities Premium Account or such other

accounts as are permissible to be utilized for the purpose, as per the audited accounts of theCompany for the nancial year ended March 31, 2009 and that the said amount be transferredto the Share Capital Account and be applied for issue and allotment of the said equity shares asBonus Shares credited as fully paid up.

RESOLVED FURTHER THAT no letter of allotment shall be issued in respect of the said bonus sharesbut in the case of members who opt to receive the bonus shares in dematerialized form, thebonus shares aforesaid shall be credited to the beneciary accounts of the shareholders with theirrespective Depository Participants within the stipulated time as may be allowed by the appropriateauthorities and in the case of shareholders who opt to receive the bonus shares in physical form,the share certicates in respect thereof shall be delivered within such time as may be allowed bythe appropriate authorities.

RESOLVED FURTHER THATthe Board be and is hereby authorized to take necessary steps for listingof the bonus shares so allotted on the Stock Exchanges where the securities of the Company are

listed as per the provisions of the Listing Agreements with the Stock Exchanges concerned, theRegulations and other applicable laws.

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RESOLVED FURTHER THAT for the purpose of giving effect to this resolution and for removal of anydoubts or difculties, the Board be and is hereby authorised to do, perform and execute all suchacts, deeds, matters and things and to give from time to time such directions as may be necessary,expedient, usual or proper and to settle any question or doubt that may arise in relation theretoor as the Board in its absolute discretion may think t and its decision shall be nal and binding onall members and other interested persons and to do all acts connected herewith or incidentalhereto.

By Order of the Board

Rajiv Choubey

Company Secretary & Head Legal

Place: TuticorinDate: April 26, 2010

Regd. Ofce:SIPCOT Industrial ComplexMadurai Bypass RoadTV Puram P.O.Tuticorin 628 002

NOTES:

1. A MEMBER ENTITLED TO ATTEND AND VOTE IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTEINSTEAD OF HIMSELF AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY.

2. The instrument appointing a proxy must be deposited with the Company at its Registered Ofce,not less than 48 hours before the time for holding the Annual General Meeting.

3. The notice of the Annual General Meeting will be sent to those members whose names appear onthe register of members as on Friday, May 07, 2010.

4. Annual Report is available at the website of the Company at www.sterlite-industries.com in theInvestor Relations section.

5. The Register of Members and Share Transfer Books of the Company will remain closed on Friday,May 21, 2010 for the purposes of dividend entitlement which will be paid after approval of theShareholders in the ensuing 35th Annual General Meeting.

6. The Board of Directors in their Meeting held on April 26, 2010 has recommended a dividend ofRs. 3.75 per share on equity share of Rs. 2 each, which if declared at the Annual General Meeting,will be paid on or before the 30th day from the date of the declaration, i.e. July 10, 2010 to thosemembers, whose name will appear in the Register of Members on May 21, 2010.

7. Pursuant to the provisions of Section 205A (5) of the Companies Act, 1956, dividends/interests whichremain unclaimed for a period of 7 years from the date of transfer to Unpaid Dividend Accountare to be transferred to the Investor Education and Protection Fund established by the CentralGovernment. Shareholders who have not encashed their dividend/interest warrant(s) so far, forthe nancial year ended March 31, 2003 or any subsequent nancial years are requested to maketheir claim to the Registrar and Share Transfer Agents of the Company. According to the provisionsof the Act, no claims shall lie against the said Fund or the Company for the amounts of dividend sotransferred nor shall any payment be made in respect of such claims.

8. Members are requested to:

(a) Notify the change in address if any, with Pin Code numbers immediately to the Company. (incase of shares held in physical mode):

(b) Bring their copy of the Annual Report and Attendance Slip with them at the Annual GeneralMeeting.

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(c) Quote their Regd. Folio Number/DP and Client ID Nos. in all their correspondence with theCompany or its Registrar and Share Transfer Agent.

9. Consequent upon the introduction of Section 109A of the Companies Act, 1956, shareholders areentitled to make a nomination in respect of shares held by them in physical form. Shareholdersdesirous of making a nomination are requested to send their requests in Form No. 2B in duplicate(which will be made available on request) to the Registrar and Share Transfer Agent of the

Company.10. Corporate members are requested to send a duly certied copy of the board resolution/power of

attorney authorising their representative to attend and vote at the Annual General Meeting.

11. Members having any questions on accounts are requested to send their queries at least 10 days inadvance to the Company at its registered ofce address to enable the Company to collect therelevant information.

12. The brief prole of the Directors proposed to be appointed/re-appointed is given in the section ofCorporate Governance of the Annual Report.

By Order of the Board Rajiv Choubey Company Secretary & Head Legal

Place: Tuticorin

Date: April 26, 2010

Regd. Ofce:SIPCOT Industrial ComplexMadurai Bypass RoadTV Puram P.O.Tuticorin 628 002

EXPLANATORY STATEMENT UNDER SECTION 173(2) OF THE COMPANIES ACT, 1956

ITEM No. 6

The present Authorised Share Capital of the Company is Rs. 185 crores comprising of 92,50,00,000 (NinetyTwo Crore and Fifty Lakhs) equity shares of Rs. 2/- each. It has become essential to increase the present

Authorised Share Capital to give effect to the proposal for issue of the Bonus Shares as recommendedby the Board of Directors at their meeting held on April 26, 2010. The Resolution is therefore to increasethe Authorised Share Capital of the Company from Rs. 185 crores to Rs. 500 crores.

None of the Directors of the Company are in any way interested in the Resolution, except to the extentof their shareholding and the shareholding of their relatives in the Company.

Your Directors recommend the above Resolution for your approval.

ITEM No. 7

The Company had effected the previous sub-division of its equity shares from face value Rs. 5/- eachto face value of Rs. 2/- each in May, 2006. Over a period of time the share price of the Company hasshown an improvement reecting the performance of the Company. The Companys equity shareshave been included as part of the S&P Nifty and Sensex w.e.f. April 2007 and July, 2008 reecting thestrong fundamentals of the Company. The sub-division of equity shares has been proposed with a view

to broad base the investor base by encouraging the participation of the retail investors and also with aview to increase the liquidity of the equity shares of the Company. The Board of Directors in its meetingheld on April 26, 2010, recommended sub-division of each equity shares of the Company of face valueof Rs. 2/- each to face value of Re. 1/- each.

As per the provisions of Section 94 of the Companies Act, 1956, approval of the Shareholder is requiredfor subdivision of shares.

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None of the Directors of the Company are in any way interested in the Resolution, except of theirshareholding and the shareholding of their relatives in the Company.


ITEM No. 8

The existing Clause V of Memorandum of Association species the present Authorised Share Capital of

your Company. In view of increase in the Authorised Share Capital from Rs. 185 crores to Rs. 500 croresand sub-division in the par value of the equity shares from Rs. 2/- each to Re. 1/-, the present Clause Vof the Memorandum of Association needs to reect both the increase Authorised Share Capital andsub-division of the equity shares.

A copy of the existing Memorandum and Articles of Association as well as the form of the amendedMemorandum and Articles of Association of the Company is available for inspection by members atthe Registered Ofce of the Company during working hours on any working day.

As per the provisions of Section 94 of the Companies Act, 1956, approval of the Shareholder is requiredfor amending the Authorised Share Capital. Consequent to change in the Authorised Share Capital,Clause V related to the Capital Clause in the Memorandum will also change as stated in Resolution.


Your Directors recommend the above Resolution for your approval.ITEM No. 9

The Companys performance has considerably improved during the nancial year 2009-10 and hasreported good results. In view of the expansion and envisaged protability and in view of the comfortablereserves position, the Board of Directors at its meeting held on April 26, 2010 has recommendedcapitalization of reserves to the extent of Rs. 168,08,00,844/- (Rupees One Hundred Sixty Eight croresand Eight lacs eight hundred and fortyfour)of Re. 1/- each in the proportion of 1:1 (i.e. one fully paidbonus share of face value of Re. 1/- each for every eligible existing fully paid (sub-divided) equity sharesof Re. 1/- each) held by the members as on the Record Date to be hereafter decided by the Board orits Committee thereof.

The Company satises the conditions of and requirements for, issue of Bonus Shares contained inChapter IX of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as presently inforce.



By Order of the Board Rajiv Choubey Company Secretary & Head Legal

Place: TuticorinDate: April 26, 2010

Regd. Ofce:SIPCOT Industrial Complex

Madurai Bypass RoadTV Puram P.O.Tuticorin 628 002.

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STERLITE INDUSTRIES (INDIA) LIMITED

Registered Ofce: SIPCOT Industrial Complex, Madurai Bypass Road, T. V. Puram P.O.,Tuticorin - 628 002, Tamil Nadu, India

PROXY FORMI/We___________________________________________________________________________________

of_______________________________________________________________________________

being a member/members of the above named Company, hereby appoint ___________________________________________________________of___________________________________

or failing him/her ____________________________________________________________________________

of__________________________________________________________________________________

as my/our proxy to attend and vote for me/us on my/our behalf at the 35th Annual General

Meeting of the Company to be held on Friday, June 11, 2010, at 12.30 p.m. at Tamira

Club, Tamira Niketan, SIPCOT Industrial Complex, Madurai Byepass Road, T. V. Puram P.O.,

Tuticorin - 628 002, Tamil Nadu, India.

Signed _________________________________ Members Folio/Client & DP - ID No.

____________________________________Date ________________________ No. of Shares_______________________

____________________________________

Notes:

1. The instrument of Proxy form shall be deposited at the Registered Ofce of the Company, not less than 48 hours

before the time xed for holding the Meeting.

2. The Form should be signed across the stamp as per specimen signature registered with the Company.

3. A proxy need not to be member.

Afx

Re. 1RevenueStamp

STERLITE INDUSTRIES (INDIA) LIMITED

Registered Ofce: SIPCOT Industrial Complex, Madurai Bypass Road, T. V. Puram P.O.,

Tuticorin - 628 002, Tamil Nadu, India

ATTENDANCE SLIP

Members Folio/Client & DP - ID No.

____________________________________

No. of Shares_______________________

____________________________________

I hereby record my presence at the 35th Annual General Meeting held on Friday, June 11, 2010,

at 12.30 p.m. at Tamira Club, Tamira Niketan, SIPCOT Industrial Complex, Madurai - Bypass Road,

T. V. Puram P.O., Tuticorin - 628 002, Tamil Nadu, India.

(Name of Member/Proxy _____________________ Signature of Member/Proxy_____________________

Notes:

1. Member/Proxy holder must bring the admission slip to the Meeting and hand-over at the entrance duly signed.

$

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FOCUSED ONDELIVERYLONG TERM VALUEPEOPLEA SUSTAINABLE FUTU

STERLITE INDUSTRIES INDIA LIMITED ANNUAL REPORT

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Our ValuesEntrepreneurship

We foster an entrepreneurial spiritthroughout our businesses and value the

ability to foresee business opportunitiesearly in the cycle and act on them swiftly.Whether it be developing organic growthprojects, making strategic acquisitionsor creating entrepreneurs from within,we ensure an entrepreneurial spiritat the heart of our workplace.

Growth

We continue to deliver growth andgenerate significant value for our

shareholders. Moreover, our organicgrowth pipeline is strong as we seek tocontinue to deliver significant growthfor shareholders in the future. We havepursued growth across all our businessesand into new areas, always on thebasis that value must be delivered.

Excellence

Achieving excellence in all that we do isour way of life. We strive to consistently

deliver projects ahead of time atindustry-leading costs of constructionand within budget. We are constantlyfocused on achieving a top decile costof production in each of our businesses.To achieve this, we follow a cultureof best practice benchmarking.

Trust

The trust that our stakeholders placein us is key to our success. We recognisethat we must responsibly deliver onthe promises we make to earn thattrust. We constantly strive to meetstakeholder expectations of us anddeliver ahead of expectations.

Sustainability

We practice sustainability within theframework of well defined governancestructures and policies and with thedemonstrated commitment of ourmanagement and employees. We aimnot only to minimise damage to theenvironment from our projects butto make a net positive impact on theenvironment wherever we work.

Our VisionTo create a world class, diversified resources companywith high quality assets, low cost production,providing superior returns to our shareholders.

IntroductionWe are Indias largest non-ferrous metals and mining

company and are one of the fastest growing privatesector companies. Our primary businesses are Aluminium,Copper, Zinc & Lead and Commercial Energy.

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Sterlite Industries (India) Limited Annual Report 2010

www.sterlite-industries.co

41 Directors Report

51 Corporate Governance Report

68 Auditors Report72 Balance Sheet73 Profit & Loss Account74 Cash Flow Statement76 Schedules forming part of the

Balance Sheet86 Schedules forming part of the Profit& Loss Account

89 Notes Forming Part of the Accounts111 Balance Sheet Abstract and

Companys General Business Profile

112 Auditors Report on the ConsolidFinancial Statements

114 Consolidated Balance Sheet115 Consolidated Profit and Loss Acco117 Consolidated Cash Flow Stateme

119 Schedules forming part of theConsolidated Balance Sheet126 Schedules forming part of the

Consolidated Profit and Loss Acc129 Notes Forming Part of the

Consolidated Accounts

12 Performance14 - Copper16 - Zinc and Lead18 - Aluminium19 - Energy20 Operational Performance24 Financial Performance26 Risks and Uncertainties

30 Sustainability Report33 Corporate Social

Responsibility (CSR)

02 Highlights04 Sterlite at a Glance06 Chairmans Statement08 Company Overview

10 Board of Directors

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02 Sterlite Industries (India) Limited Annual Report 2010

Highlights

Consolidated Financials` Rs. 24,410 Crore Consolidated turnover for2009-10 up by 15.4%

`

Rs. 8,031 Crore PBIDT for 2009-10 up by 17.1%Rs. 5,409 Crore` Net Profit for 2009-10

` Rs. 37,012 Crore Shareholders fund base

Rs. 21,313 Crore` Cash and Liquid investment

Rs. 46.79` Consolidated EPS for 2009-10on enlarged equity base

Dividend of` Rs. 3.75per equity share ofRs. 2/- each for 2009-10

CopperCathode production` 334,174 tonnes

Highest ever Domestic Sales` 206,150 tonnes

Announced expansion programme of doubling of`copper customs smelting capacity to 800 ktpawith associated 160 MWcaptive power plant

Zinc-LeadAchieved` 1 mtpacapacity in Zinc-Lead

Record Annual Zinc and Lead mined metal`production at 768,620tonnes

Record Annual Zinc and Lead refined metal`

production at 650,038tonnesSilver production at` 176,381kilograms

` 210 ktpazinc smelter at Dariba and 1 mtpaconcentrator at Rampura Agucha successfullycommissioned, ahead of schedule

Successful exploration results during the yea` added 34 mtat Zinc

AluminiumHighest ever production of hot metal from`BALCO plant II smelter 254,745tonnes

268,425` tonnesAluminium production

267,802` tonnesAluminium sales

Highest ever production of Rods` 148,239tonnes

Construction work on the` 325 ktpaAlumini

smelter and 1,200 MWCaptive Power plantBALCO progressing well

Commercial EnergyThe construction work of the` 2,400 MWCobased Power Plant at Jharsuguda is progressiwell

Revived` 1,980 MWMerchant Power Plant atTalwandi in Punjab state

Coal linkages secured for all power plants`

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www.sterlite-industries.c


Sales and Services Rs Crores

2010

2009

2008

2007

5,000 10,000 15,000 20,000 25,000 30,000

2006

Gross Profit (PBIDT) Rs Crores

2010

2009

2008

2007

2,000 4,000 6,000 8,000 10,000 12,000

2006

Cash Profit (PBDT) Rs Crores

2010

2009

2008

2007

2,000 4,000 6,000 8,000 10,000

2006

Net Profit (PAT) Rs Crores

2010

2009

2008

2007

2,000 4,000 6,000 8,000

2006

Gross Fixed Assets Rs Crores

2010

2009

2008

2007

5,000 10,000 15,000 20,000 25,000 30,000

2006

Net Worth Rs Crores

2010

2009

2008

2007

10,000 20,000 30,000 40,000

2006

Sales and Services Rs Crores

2010

2009

2008

2007

5,000 10,000 15,000

2006

Gross Profit (PBIDT) Rs Crores

2010

2009

2008

2007

350 700 1,050 1,400 1,750

2006

Cash Profit (PBDT) Rs Crores

2010

2009

2008

2007

300 600 900 1,200 1,500

2006

Net Profit (PAT) Rs Crores

2010

2009

2008

2007

500 1,000 1,500

2006

Gross Fixed Assets Rs Crores

2010

2009

2008

2007

1,000 2,000 3,000 4,000

2006

Net Worth Rs Crores

2010

2009

2008

2007

5,000 10,000 15,000 20,000 25,000

2006

Consolidated Performance

Standalone Performance

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Group structure

51.0% 64.9% 100% 100%

70.5% 54.0%

29.5%

* Listed on the Bombay Stock Exchange, National Stock Exchange of India and New York Stock Exchange.** Listed on the Bombay Stock Exchange and National Stock Exchange of India.

VedantaResources plc

SterliteIndustries

(India) Limited*

VedantaAluminium

Limited

HindustanZinc Limited**

Copper Minesof Tasmania

BharatAluminiumCompanyLimited

Sterlite EnergyLimited

Sterlite at a Glance

Our principal operations are located in India,where we have a substantial market share ineach of our main metals: aluminium, copper,

zinc and lead. We also operate a Coppermine in Australia.

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06

08

09

10 1011

07

01

02

03

04

05

01 Debari smelter02 Chanderiya smelters03 Rampura-Agucha mine04 Rajpura Dariba and Zawar mine

05 Sindesar Khurd mine06 Silvassa refinery07 Tuticorin smelter and refinery08 Vizag smelter09 Lanjigarh mine and

refinery (VAL)10 Jharsuguda Aluminium (VAL)

and Commercial Power project (SEL11 Korba smelter12 Mt. Lyell mine13 Talwandi Sabo (TSPL)

India

Tasmania

12

Aluminium

Copper

Zinc Power

Projects under development

Captive power plant

13

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Chairmans Statement

I am delighted to report another excelleset of results in a challenging year for ouindustry and the global economy. The 2financial year began with developed main recession and commodity prices and

industrial demand at multi-year lows.Emerging markets especially India andChina proved more resilient to theeconomic downturn, with continuedeconomic and metals consumption groThe large and coordinated stimulus fromgovernments globally has secured greatstability in financial markets and a returneconomic growth. Commodity prices aindustrial demand have recovered and wenter the 2011 financial year with muchgreater optimism to when we entered 2

Our structurally low cost position across

commodities, excellent liquidity and strcash flow has positioned us well to delivthese unprecedented markets. This hasenabled us to continue to grow productand invest in our industry-leading growprogramme.

Financial performanceWe delivered strong results in 2010, whiconce again benefited from our low costposition, diversified revenues and recordproduction growth across all our businesConsolidated revenues rose by 15.4% toRs. 24,410 Crore and PBIDT rose by 17.1%

Rs. 8,031 Crore during the year. Theattributable profit for the year increased 6% to Rs. 3,744 Crore with an EPS ofRs. 46.79. The net cash flow generated froperating activities amounted to Rs. 4,18Crore during the year.

Our balance sheet and liquidity remainsstrong. The Company has a strong CashLiquid investment of Rs. 21,313 Crore as31 March 2010. We remain committed tretaining investment grade credit metri

Our excellent results fully endorse our decision tocontinue investing through the cycle in our industryleading organic growth programme. We have achievedsignificant milestones during the year and are on track todeliver a substantial increase in production capacityacross our businesses in 2011. We remain confidentabout the future as we continue to deliver our projectsand look for further opportunities to create value.

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Organic growth and operationalperformanceFY 2010 was an outstanding year. Productiongrew across all commodities, costs were keptunder control, and we made excellent progress

with our organic growth programme. In Q4Hindustan Zinc commissioned the 1 mtpaZinc-Lead concentrator and 210 ktpa Zincsmelter, becoming the largest integratedproducer of Zinc in the world with capacity of1.064 mtpa.

We also announced the doubling of ourcopper custom smelting capacity atTuticorin to 800 ktpa with associated160MW power plant which will furtherreduce our costs and put us amongst thelowest quartile cost custom smelters in theworld. We revived the 1,980 MW thermal

power plant project at Talwandi Sabo in thestate of Punjab to take advantage of theexciting opportunities offered by the powersector in India.

The tragic collapse of a power plant chimneythat was under construction at BALCOthrough our subcontractor SEPCO was anunfortunate incident and investigationshave revealed this was caused by severethunderstorms and lightning. We havetaken immediate steps to compensateand support the affected families, andstrengthened monitoring and systems at

our project sites to ensure this does nothappen in the future.

Dividend, bonus and splitThe Board has recommended a dividend ofRs. 3.75 per equity share of Rs. 2/- each forthe financial year 2009-10. The dividend willbe paid to those shareholders whose namesappear on the register of members of theCompany as on 21 May 2010, on approvalat the ensuing Annual General Meeting.

The Board has approved sub-division of theEquity Shares from Rs. 2/- each to Re. 1/-each and also a bonus issue in the ratio of 1:1equity shares. The sub-division of equityshares has been done with a view to

broaden the investor base by encouragingthe participation of the retail investors andalso with a view to increase the liquidity ofthe equity shares. The Board keeping in viewthe comfortable reserves position, futureexpansion, profitability and its constantendeavour to reward its Shareholders hasrecommended a bonus issue of 1:1, i.e. oneshare of the sub-divided equity shares ofRe. 1/- each for one share held. Thesub-division and bonus issue will be subjectto approval of the Shareholders in theensuing Annual General Meeting.

Fundraising activityDuring the year the Company made anAmerican Depository Shares (ADS) issue ofUS$ 1.6 billion and also raised US$ 500 millionthrough Convertible Senior Notes withinternational investors, to augment the longterm resources. The investor community atlarge has continued to repose faith in theCompany, which was very satisfying.

SustainabilitySterlite has a long standing commitment tosustainable development, and we believe thatbusiness today has greater responsibility than

ever before to enhance societys overall wellbeing. We continue to proactively foreseesocial and environmental factors that will beinfluencing our businesses in the long termand prepare for those changes now, so thatwe can emerge as a more effective andstronger company. We have a track record ofexceeding our own performance year on yearin energy and water usage, recycling andreuse of waste innovatively and engaging andworking with communities towards buildinga sustainable business.

Ensuring the safety of all our employees ikey priority for us, and the Board remainsfocused on improving the performance icrucial area. We have also remained focuson actively engaging with our key

stakeholders, enhancing our reporting anincreasing transparency. As we expand ofootprint globally, we will continue to buour strong legacy in the sustainability spa

OutlookThe recovery in demand and commodityprices appears well-founded and the medand long-term outlook for our commodremains strong. We are well placed to benfrom a sustained recovery given ourstructurally low cost position, presence ingrowing economies and the organic growprogramme. Our priorities are focussed o

delivering a significant increase in capacitacross our businesses and strengtheninglow cost position. We are both optimisticwell placed for the future.

Finally on behalf of the board I would likthank our employees who have contributo the excellent performance during theyear. Our unrivalled growth and deliverybenchmark standards will help us maintsustainable growth and maximiseshareholder value.

Anil AgarwalChairman

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Company overview

With consolidated revenues of Rs. 24,410 CroreSterlite is one of Indias largest non-ferrousmetals and mining company.Our business is principally located in India,one of the fastest growing large economies in

the world with a 6.7% increase in real grossdomestic product (GDP) from fiscal 2008 tofiscal 2009, according to the Central StatisticalOrganisation of the Government of IndiasMinistry of Statistics and ProgrammeImplementation. In addition, we have miningoperations in Australia and a precious metalrefinery at Fujairah in the UAE. We are primarilyengaged in copper, zinc, and aluminium andhave advanced the development of thecommercial power generation business.

We have experienced significant growth inrecent years through various expansion

projects for our copper, zinc, aluminium andenergy businesses. We believe our experiencein operating and expanding our businesses inIndia will allow us to capitalise on attractivegrowth opportunities arising from Indiaslarge mineral reserves, relatively low cost ofoperations and large and inexpensive labourand talent pools. We believe we are also wellpositioned to take advantage of thesignificant growth in industrial productionand investments in infrastructure in India,China, Southeast Asia and the Middle East,which we expect will continue to createstrong demand for metals.

Our Goal

To create a globally respected,world-class metals and miningcompany that generatesconsistently strong financialreturns for its shareholders.

CopperSterlite is one of the leading copper producerin India. The copper business comprisessmelting and processing of copper and

production of its by-products. Our operationsinclude a smelter, refinery, phosphoric acidplant, sulphuric acid plant, dore plant andcopper rod plant at Tuticorin in the state ofTamil Nadu in southern India; and a refineryand two copper rod plants at Silvassa in theUnion territory of Dadra and Nagar Haveli inwestern India, as well as a precious metalrefinery at Fujairah in the UAE.

In addition, we own the Mt. Lyell coppermine at Tasmania in Australia, whichprovides around 7% of our copperconcentrate requirements at Sterlite. In2009-10, we produced 334,174 tonnes

of copper cathode.

Sterlite has announced an expansionprogramme of doubling of copper customssmelting capacity to 800 ktpa withassociated 160 MW captive power plant.The detailed engineering and procurementactivities are underway for scheduledcommissioning by mid 2011.

Zinc and LeadOur majority-owned subsidiary, HindustanZinc Limited (HZL) is Indias only fullyintegrated zinc producer with a 74% market

share by production volume of the Indianzinc market.

HZLs products include refined Zinc metal,refined Lead metal, Silver, Cadmium andSulphuric Acid. HZL is on course to becomethe worlds largest integrated Zinc-Leadproducer and are the largest primary Silverproducer in India. It has mining and smeltingoperations across multiple locations in Indiaand its assets include Rampura Agucha - thelargest Zinc mine in the world, SindesarKhurd, Rajpura Dariba and Zawar in the Stateof Rajasthan. The smelters are situated at

Chanderiya Smelting Complex which is thelargest single location Zinc smelting complexin the world, and Zinc Smelter Debari in theState of Rajasthan; and Zinc Smelter Vizag inthe State of Andhra Pradesh. As a part ofrecent project expansions, HZL hasaccomplished successful commissioning ofHydro Zinc smelter in Dariba SmeltingComplex, in March 2010. HZL has a zinc ingotmelting and casting plant at Haridwar inNorth India.

Sterlite has a 64.9% ownership interest inHZL, with the remainder owned by the

Government of India (29.5%) andinstitutional and public shareholders (5.6%).The Company has exercised the second calloption, but the Government has respondedby stating that it does not believe thatexercising the option under company law isvalid. The company has therefore started thearbitration process.

Ongoing exploration activities at HinduZinc have yielded significant success witgross addition of 33.7 million tonnes (mreserves and resources prior to a depleti7.1 million tonnes in FY 2010. Contained

zinc-lead metal has increased by 3.4 miltonnes, prior to a depletion of 0.77 millitonnes during the same period. Totalreserves and resources at 31 March 2010were 298.6 million tonnes containing34.1 million tonnes of zinc-lead metal a832.7 million ounces of silver.

During FY 2010, the Company recorded ithighest ever mined and refined metalproduction of 768,620 tonnes and 650,03tonnes respectively of Zinc & Lead, up 4.5%5.3% respectively, compared to FY 2009. TCompany also recorded its ever highest Si

production at 176,381 kilograms (includincaptive usage of 37,831 kg), an increase of33.9%, compared to the previous year.

AluminiumLocated in Korba in the state of Chhattisgin central India, our majority ownedsubsidiary, Bharat Aluminium CompanyLimited (BALCO), is one of the four primaproducers of aluminium in India. Sterlite 51 % of the share capital of BALCO. TheCompany has exercised its option to acquthe Government of Indias remaining 49%ownership interest, although the exercise

currently disputed and in arbitration.

BALCOs partially integrated operationsinclude two bauxite mines, captive poweplants and refining, smelting and fabricatfacilities at our Korba facility in Central IndDuring the year, the production of saleabmetal was 268,425 tonnes as compared 356,781 tonnes in the previous yearconsequent to the phasing out of the 10VSS Technology smelter (Plant I).

In order to enhance aluminium productiocapacity to 1.0 million tonnes, BALCO en

into a memorandum of understanding wthe State Government of Chhattisgarh oAugust 8, 2007, for a potential investmenbuild an aluminium smelter with a capac650,000 tpa at Chhattisgarh. BALCO hascommenced the implementation procesthe first phase of expansion for setting u325,000 tpa aluminium smelter which upre-baked technology from the Guiyang

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Aluminium Magnesium Design & ResearchInstitute, or GAMI, of China. The first metaltapping is expected in Q4 FY 2011.

Construction of the 1,200 MW captive power

plant was disrupted in September 2009 dueto the collapse of a chimney under-construction. Work had resumed in January2010 and is now in full swing. Despitedisruption for about four months, we areworking toward synchronisation of the firstunit of 300 MW in Q3 FY 2011 and remainingthree units progressively by Q2 FY2012.

Commercial Energy BusinessWe have been building and managingcaptive power plants since 1997. Ourwholly-owned subsidiary Sterlite Energy isbuilding a 2,400 MW thermal coal-based

power facility (comprising four units of 600MW each) in Jharsuguda in the State ofOrissa which is nearing completion. Theconstruction work is progressing well andthe first unit is expected to getcommissioned in Q1 FY 2011, with theremaining three units to be progressivelycommissioned by end of FY 2011.

In addition, in July 2008, Sterlite Energy wasawarded the tender for a project to build a1,980 MW thermal coal-based commercialpower plant at Talwandi Sabo, in the State ofPunjab, India, by the Government of Punjab.

The EPC contract has been finalised and theEPC contractor has appointed subcontractorsto carry out pre-construction activities at thesite and orders have also been placed forturbines, generators and power houses. Theproject completion is expected by Q2 FY 2014.

Our commercial power generation businessalso includes the wind power plantscommissioned by our 64.9%-ownedsubsidiary HZL. HZL has 123.2 MW windpower generation capacity in the state ofGujarat (88.8MW) and Karnataka(34.4MW). Both these plants are

functioning efficiently and feeding electricityto the respective state grids. These windenergy mills have the state-of-the-artgearless synchronous wind turbinegenerator technology which facilitateshigher power generation. During the year,we produced 219.1 Million Units of windpower, marginally lower as compared to FY2009. The Commercial Energy Segmentincludes the surplus power sale from 270MW CPP at BALCO also.

Our power business is still under development,and we expect to have meaningful operatingresults for our commercial power generationbusiness segment in fiscal 2011, when SterliteEnergys first power project is expected tobegin commissioning.

In addition, we have interests and plans in thefollowing business:

Vedanta Aluminium Limited (VAL)We are expanding our aluminium businessthrough Vedanta Aluminium. We hold a 29.5%minority interest in Vedanta Aluminium, a70.5%-owned subsidiary of Vedanta.

Vedanta Aluminium is intended to be a fullyintegrated alumina and aluminum producerwith a 1.0 million tpa, expandable to 1.4million tpa, alumina refinery at Lanjigarh in

the State of Orissa in Eastern India, with anassociated 75 MW captive power plant,expandable to 90 MW. In March 2007,Vedanta Aluminium began the progressivecommissioning of the 1.0 million tpagreenfield alumina refinery. As scheduled,the second stream of the 1.4 mt LanjigarhAlumina refinery has been commissionedand it produced 762,195 tonnes of aluminain fiscal 2010.

Further, Vedanta Aluminium is expandiits alumina refining capacity at the Lanjrefinery from 1.4 million tpa to 2.0 millitpa through debottlenecking, which isexpected to be completed in Q1 FY 201which will be dependent on bauxite

availability. Further 3 mtpa expansion ocapacity along with 210 MW coal basedcaptive power plant, in three lines of 1meach, is now scheduled for commissioniprogressively from Q4 FY2011.

In addition, Vedanta Aluminium is buildgreenfield 500,000 tpa aluminium smetogether with an associated 1,215 MWcoal-based captive power plant, inJharsuguda in the State of Orissa. Thecommissioning of the remaining 76 pot500 ktpa Jharsuguda Smelter I is schedufor Q1 FY2011.All the nine units of 135 M

have been commissioned.

Vedanta Aluminium is also setting upanother 1,250,000 tpa aluminium smelJharsuguda which is on schedule for finacompletion by Q2 FY 2013 with the firstmetal tapping now scheduled for Q2 FY

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Board of Directors

Mr. Anil AgarwalMr. Anil Agarwal, 57, who founded theVedanta/Sterlite Group in 1976, is ourChairman and was appointed to our Boardof Directors in 1978. He is also the ExecutiveChairman of Vedanta Resources Plc and theDirector of:

Bharat Aluminium Company LimitedSterlite Technologies LimitedVedanta Aluminium LimitedSterlite Energy LimitedAnil Agarwal Foundation

Mr. Anil Agarwal was previously ourChairman, Managing Director and CEO from1980 until his term ended in October 2004.Since 1976 the Group has grown under hisleadership, vision and strategy. He has over30 years of experience as an industrialist.

Mr. Navin AgarwalMr. Navin Agarwal, 49, ExecutiveVice-Chairman, was appointed to our Boardof Directors in August 2003. He is responsiblefor the Groups business strategy as well asoverseeing its overall performance andgrowth.Mr. Navin Agarwal has been with theCompany since its inception. He chairs theGroups Executive Committee. In this role, hedirects the planning, execution, andcompletion of the pipeline of strategic organicgrowth projects as well as bringing togetherbusiness heads and financial heads to ensurebest practices are shared and implemented.Mr. Navin Agarwal is also responsible forinorganic growth, strategic treasury andfund raising initiatives, and global investorrelations as well as augmenting andmanaging the top talent of the Group. Hehas over 25 years of experience in strategicand business management.

He is also the Chairman of Konkola CopperMines and The Madras AluminiumCompany Ltd, Deputy Executive Chairmanof Vedanta Resources Plc and Director of:

Vedanta Resources Holdings LimitedVedanta Resources Investment LimitedBharat Aluminium Company LimitedHindustan Zinc LimitedSterlite Iron & Steel Company LimitedSterlite Infrastructure Private LimitedSterlite Infrastructure Holdings

Private LimitedVedanta Aluminium Limited

Mr. Navin Agarwal has over 20 years ofexperience in strategic management. Heholds a Bachelor of Commerce degree fromSydenham College, Mumbai, and has alsocompleted the Owner/President ManagementProgram at Harvard University.

Mr. Gautam Bhailal DoshiMr. Doshi, 57, is an IndependentNon-Executive Director and was appointour Board of Directors in December 2001Since August 2005, he has been employewith Reliance ADA Group Limited. Beforethat, he was a partner of RSM & Co. in Indfrom September 1997 to July 2005. Mr. Dhas over 25 years of experience in audit,finance and accounting. Mr. Doshi is a FeMember of the Institute of CharteredAccountants of India and was a memberthe Central Council and the Western IndiaRegional Council of the Institute of ChartAccountants of India. He is also Director o

Reliance CommunicationsInfrastructure LimitedReliance Life Insurance Company LimReliance Media Works LimitedReliance Anil Dhirubhai AmbaniGroup LimitedReliance Big TV LimitedReliance Telecom LimitedPiramal Life Sciences LimitedDigital Bridge FoundationReliance Media World LimitedReliance Homes Finance Private LimTelecom Infrastructure FinancePrivate LimitedNahata Film Infotain Private LimitedSonata Investments Limited

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Mr. Berjis Minoo DesaiMr. Desai, 53, is a Non-Executive Directorand was appointed to our Board ofDirectors in January 2003. He holds aMasters Degree in law from the Universityof Cambridge and has been the managingpartner of Messrs J. Sagar Associates since2003. His expertise lies in laws relating tomergers and acquisitions, securities,international commercial arbitration and infinancial and international business law.Before 2003, he was a partner at MessrsUdwadia, Udeshi & Berjis.

He is a Director of severalcompanies including:

The Great Eastern ShippingCompany LimitedNOCIL LimitedPraj Industries Limited

Edelweiss Capital LimitedDeepak Nitritre LimitedCentrum Capital LimitedGreatship (India) LimitedEmcure Pharmaceuticals LimitedCentrum Fiscal Private LimitedCapricorn Studfarm Private LimitedCapricorn Agrifarms & DevelopersPrivate LimitedCapricorn Plaza Private LimitedSpring Healthcare Advisors PrivateLimitedEquine Bloodstock Private LimitedEden Realtors Private Limited

Mr. Sandeep H. JunnarkarMr. Junnarkar, 58, is our Non-ExecutiveDirector and was appointed to our Board ofDirectors in June 2001. He is a solicitor and apartner of Messrs Junnarkar & Associates.Earlier, he was a partner at Messrs. Kanga & Co.from 1981 to 2002. Mr. Junnarkar specialises inbanking and corporate law. He has a Bachelorof Science (Honours) degree followed by aBachelor of Laws degree, both from theUniversity of Mumbai and is a member of theBombay Incorporated Law Society.


Everest Industries LimitedExcel Crop Care LimitedIL&FS Infrastructure DevelopmentCorporation LimitedJai Corp. Limited

Jai Realty Ventures LimitedReliance Industrial Infrastructure LimitedReliance Industrial Investments &Holdings LimitedReliance Ports and Terminals LimitedSterlite Energy LimitedSunshield Chemicals LimitedBombay Incorporated Law Society

Mr. Dindayal JalanMr. D. D. Jalan, 53, is our Whole TimeDirector. Mr. Jalan joined our Companythe President of our Australian operatioand was responsible for the business anoperations of Copper Mines of Tasmanand Thalanga Copper Mines from Janu2001 to February 2002 before becominour Chief Financial Officer (Metals). He appointed as our Chief Financial OfficerMarch 2003 and held that position untJune 2009. Mr. Jalan has been the ChiefFinancial Officer of Vedanta since Octob2005. Mr. Jalan has over 30 years ofexperience working in various companithe engineering, mining and non-ferrometals. He has received a Bachelor ofCommerce degree from GorakhpurUniversity and is a member of the Institof Chartered Accountants of India.


Vedanta Resources Finance LimitedVedanta Resources Cyprus LimitedVedanta Resources Jersey LimitedVedanta Resources Jersey II LimitedVedanta Investment Jersey LimitedThalanga Copper Mines Pty LimitedCopper Mines of Tasmania Pty LimitTalwandi Sabo Power LimitedSterlite Opportunities andVentures LimitedV S Dempo & Company Private Limi

Dempo Mining Corporation PrivateLimited

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Performance

The Management Discussion and Analysis begins withan overview; then analyses each of the businesses;moves on to details on financial performance, risksand internal control measures and concludes withsustainable development initiatives.

334,174 tonnesCopper production

768,620 tonnesZinc and Lead production

268,425 tonnesAluminium production

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OverviewIn a challenging year for the global economyand our industry, we are pleased to reportstrong results across our businesses. We haveremained focussed on our core strengths of

low cost production, operational efficiencyand successfully developing high valueaccretive projects for our shareholders. Wehave increased volumes across all businesseswhilst keeping costs under control and arewell placed to benefit from the sustainedrecovery in our industry.

During the year all our businesses deliveredvolume growth, with record mined metalproduction of zinc and lead. Our ongoingcost reduction measures have helped tocontain the impact of higher input priceswhile higher volumes have also benefited

unit operating costs. Stronger commodityprices for copper and zinc have alsocontributed to the increase in EBITDA.

We have made excellent progress during theyear in executing our industry leading organicgrowth programme. We delivered bothsignificant production growth this year andput in place plans to substantially increasecapacity in all our businesses for 2011.

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Performance Copper

Production performanceProduction of cathodes at our CopperIndiabusiness was 334 kt in FY2010, up 6.7% yearon year reflecting both the impact ofplanned maintenance undertaken and theeffect of lower copper grades in concentrateon production volumes during FY2009.

Sterlite registered a highest ever fresh anodeproduction of 332 kt during the year2009-10. The Tuticorin plant will be shutdown for its bi-annual maintenance duringJune July 2010 for around 20 days.

Mined metal production at our Australianmines was 11% lower at 24 kt in FY2010 dueto the impact of a mud rush in Q2. The minehas now resumed normal production.

Unit costsOperationally, Copper India performed welldelivering a reduction in gross conversion cost

from Rs. 17,974 per MT to Rs. 17,324 per MT.However during the period we experienced asharp fall in sulphuric acid realisation whichreduced the by-product credit from Rs.10,510 per MT to Rs. 2,840 per MT,generating an increase in net conversion costfrom 3.1 USc per lb to 10.4 USc per lb.Currently, sulphuric acid realisation is rising onthe back of a recent increase in sulphur prices,which should show a positive impact on cost.

Unit Cost of Production (CoP) at our Australianoperations, excluding Tc/Rcs, in FY 2010 was143 USc per lb up from 121 USc per lb inFY2009, mainly due to costs incurred for mudrush recovery resulting in lower productionvolumes, and an increase in royalties.

SalesCopper sales in the domestic market were 206kt in FY2010. 78% of these were value addedcopper rods, supplied largely to the rapidly

growing power sector. The Indian coppermarket continues to demonstrate a robusgrowth rate of 4% growth in FY2010. Therevenues increased by 18% to Rs. 12,536 C

By-ProductsThe Sulphur market witnessed an all time lwith the prices falling to USD 35 FOB, whicwent up as high as USD 800 FOB in theprevious year, following the world economslowdown. This depression was also witnein Sulphuric acid market with tonnages solnegative realization. The average net salesrealization from Sulphuric acid was Rs. 828tonne as against Rs 5,091 per tonne in theprevious year. To compensate the shortfallrationalized the sales of phosphoric acid, wincreased by 31% for the year 2009-10.

Treatment charges and refiningcharges (TC/RC)TC/RC realisation FY 2010, was 13.54 USccompared with 11.75 USc/lb in the previoyear. Spot TC/RCs continue to remain undpressure due to aggressive buying from CCopper Mines continue to underperform production due to falling head grades andlabor issues. This is resulting in concentratshortage in future as smelter expansions China are coming up as scheduled. HowevSterlite is scheduled to receive shipmentsunder long term agreements as expectedthe spot requirement is being covered as

smelters requirements.

Financial performanceEBITDA for FY2010 reduced by 39% to RsCrore mainly due to steep fall in by-producrealisation. These were partially off-set byimproved TC-RC (15%) and higher realisatifrom our Australian mining operations.

Projects400 ktpa Copper SmelterThe 400 ktpa copper smelter project anassociated 160 MW captive power projeTuticorin are progressing well, with deta

engineering and procurement activitiesunderway for scheduled commissioningmid 2011.

Table 1: Performance of Copper

Particulars 2009-10 2008-09 % Change

Production volumes (000 tonnes)

Mined metal content 24 27 (11)Cathodes 334 313 7Rods 197 220 (10)Sulphuric acid 1,036 987 5Phosphoric acid 206 164 26Cash Settlement Prices (US$ per tonne) 6,112 5,885 4Unit costs (US cents per lb) 10 3 235Realised TC/Rcs (US cents per lb) 14 12 15Revenue ( Rs. Crore) 12,536 10,616 18EBITDA (Rs. Crore) 749 1,237 (39)EBITDA Margin (%) 6 12Operating Profit (Rs. Crore) 637 1,130 (44)

The performance of our CopperIndia/Australia business in FY2010 is set out below.

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Case study Optimization of Oxygen Plant

Identification of the projectThis project was an outcome of theoptimisation of oxygen plant -1 operations,which surfaced during identification ofthe key value drivers under the ACE-4000(Acheiving Cost Excellence) project.

Initial roadblocksThe full potential of producing liquidoxygen could not be visualised, since theplant had undergone a series of in-housemodifications to enhance the production.The practical difficulties in changing fromgaseous mode to liquid mode of operationfor a short period of time was a deterrentand the required time gap to produce liquidoxygen after switching the operation modeswas also not identifiable. The general notionwas that running in liquid mode wouldbe inefficient and counterproductive.

ACE4000 Analysis and trials

There are two oxygen plants in Sterlitewith a total capacity of 1,040 MT/day. Outof the two plants, Plant-1 could operatein gaseous mode, using a single turbineoperation and in liquid mode where twoturbine will be in operation. There arefour steps to produce oxygen in thesecryogenic plant which are air intake,purification, cooling and distillation.

Compander is an equipment in the coolingsection, which helps to remove the internalenergy of incoming air and therebylowering its temperature. Work is extractedout of the incoming air during rotation ofthe expander. Due to adiabatic expansionair loses its temperature, becoming coolerwhich is necessary for fractional distillation.In the distillation unit, all the oxygen iscollected in liquid form, and it is again takenback to the heat-exchanger to facilitate thecooling of incoming air and subsequentlyevaporated as gaseous oxygen.

Operating the compander at a higher speedshould extract more work and in turnshould produce more chillness. Once theair is more chill, the quantity of air requiredfor exchanging heat in heat- exchanger islower and hence the remaining quantitycan be stored as liquid oxygen, therebyresulting in an increased production of

liquid oxygen. However, production oftotal quantity of oxygen in the form ofgas and liquid remains same as before.

During the trial, 40 MT of liquid oxygengeneration was achieved as compared to26 MT before. Power specifics were foundlower for a fixed volume of air in liquidmode than gaseous mode because of lower

pressure in the upstream since compandewere running at a higher rpm facilitatinghigher extent of expansion. The sameproduction level was achieved in both themodes which enabled us to run the plantin LOX mode continuously rather thanswitching between gas and liquid modes

BenefitsAny negative variation in gaseousoxygen demand within 40 MT/daybeyond the copper anode productionlevel of 900 MT could be stored asliquid oxygen and delivered wheneverneed arises. Prior to this initiative beingimplemented, for any lower requirementof oxygen, the gaseous oxygen wasbeing vented out into the atmosphere.

Monetary benefit from this initiativeshall result in Rs. 2.3 Crore per annum.

Achieving optimal production levels in dual mode

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Performance Zinc and Lead

Production performanceMined metal production for Zinc and Leadfrom all our mines was 769 kt in FY2010, up5% over FY2009, primarily due to improvedoperational performance in the mines.

Saleablezinc and lead production in FY2010was 578 kt and 64 kt respectively, anincrease of 5% and 7% respectively, over theprevious year due to improved operational

efficiencies. The new 210 ktpa zinc smelterat Rajpura Dariba and the new 1 mtpaconcentrator at Rampura Agucha werecommissioned at the end of Q4, threemonths ahead of schedule.

Production of silver in FY2010 was a record176,381 kg (including captive usage of37,831 kg), up 33.9% compared withFY2009. This increase was primarily due toincreased mine production andimprovement in silver recovery.

Unit costsWe were able to keep our cost of productionstable as compared to FY 2009, on the backof higher volumes, increased operationalefficiencies, increased capacities, despitehigher input cost and volatile acid credits.

Unit cost of production in FY2010 excludingroyalties was 15% higher at US$ 698(Rs. 33,073) per tonne compared with

US$ 609 (Rs. 27,974) per tonne in FY2009,primarily due to lower sulphuric acid creditwhich fell by US$123 per tonne and wageincreases arising out of a long term wagesettlement agreement. Royalties werehigher at US$152 per tonne in FY2010 onaccount of increased LME prices and higherroyalty rates. The royalty rate, which is linkedto LME, was increased from 6.6% to 8.4%for zinc and from 5.0% to 12.7% for lead,with effect from 13 August 2009.

SalesOur domestic sales of Zinc metal at 386 kin FY 2010 were up 16% compared withFY 2009, benefitting from a 25% growthzinc consumption in India, on the back of

sustained robust growth in the infrastrucsector. We also sold 223,000 dry metrictonnes of zinc concentrate and 31,000 dmetric tonnes of lead concentrate, in FY2

The revenue during the year increased b42% to Rs. 7,943 Crore. This was mainlyto volume growth, higher LME realizatioand improved operational efficiencies.

Financial performanceEBITDA for FY2010 increased by 69% toRs. 4,710 Crore, primarily due to highervolumes and an increase in LME zinc and

lead prices by 24% and 23% respectively

This increase was partially off-set byincreased net operating costs and royalt

The positive impact of higher volumes, rappreciation against US dollar and stableoperating cost, contributed significantly companys operating margins.

ProjectsRajpura Dariba lead smelterConstruction activities at the 100 ktpa lsmelter at Rajpura Dariba and 160 MW

captive power plant is progressing well aon schedule for completion by Q2 FY20

Sindesar Khurd mineWork at the mining projects at SindesarKhurd from 0.3 mtpa to 1.5 mtpa isprogressing on schedule for progressivecommissioning from Q1 FY2011.

ExplorationOngoing exploration activities at HZL hayielded significant success with an increa33.7 mt to gross reserves and resources, pto production of 7.1 mt in FY2010. Conta

zinc-lead metal has increased by 3.4 mt, pto production of 0.77 mt during the samperiod. Total reserves and resources at 31March 2010 were 298.6 mt containing 3mt of zinc-lead metal and 832.7 moz of s

A highlight of our exploration success hasbeen additions at Rajpura Dariba belt (covSindesar Khurd, Rajpura Dariba) where wehave now established a reserve and resoubase of 103.03 mt (83.4 mt in FY 2009).

Table 2: Performance of Zinc and Lead


Production volumes (000 tonnes)Zinc:Mined metal content 683 651 5Saleable Metal 578 552 5Lead:Mined metal content 86 84 2Saleable Metal 64 60 7Average LME Cash settlement prices (US per tonne) 1,936 1,563 24Unit costs (US$ per tonne)Including Royalty 850 710 20Excluding Royalty 698 609 15Revenue ( Rs. Crore) 7,943 5,603 42

EBITDA (Rs. Crore) 4,710 2,781 69EBITDA Margin (%) 59 50Operating Profit (Rs. Crore) 4,446 2,567 73

The performance of our Zinc and Lead business in FY2010 is set out in the table below.

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Case study Utilization of Zinc Smelter Wastes

Zinc smelting processes by their intrinsicnature generate significant quantumof solid wastes. The pyrometallurgicalprocess generates approx 0.7 MT ofslag per tonne of zinc produced whilehydrometallurgical processes generateabout 1 tonne of jarosite waste per tonneof zinc produced. We are committed tominimizing the environmental impactof our operations and engage in safe and

environmentally secure disposal of allthese wastes adopting the best availabletechnologies and practices. We believein the 3R principles of Reduce, Reuse &Recycle; and follow these principles in ourefforts towards waste management.

SlagOur efforts for utilization of slag startedat Chanderiya smelter (CLZS) with thepremise that slag can be a very valuableconstituent for cement production.Several studies were carried out throughresearch institutes to establish the technical

feasibility of using slag both in OrdinaryPortland Cement (OPC) and Portland SlagCement (PSC). Subsequently, all cementplants in a 150 km radius of CLZS wereapproached and convinced for using slagas a constituent of raw mix to make OPC.

With all these efforts, we have been able tosell more than 500 kt of slag in the last 2years, which is much more than the actualgeneration of these 2 years. With this paceof disposal by sale, the entire accumulatedslag stock of last 20 years will get liquidatedwithin the year 2010-11, thus makingthe land available for alternative uses. Infact, the land already vacated has enabledCLZS to build the second phase of jarofix

disposal facility in this area, obviating theneed for buying land and saving approx.Rs. 10 Crore in addition to saving preciousnatural resources and agricultural land.

We are also close to getting Bureau of IndianStandards (BIS) approval for using 5% slagas a performance improver. This will addmuch more value to the cement plants, whowill therefore take it much more keenly.

Jarosite / JarofixThe waste generated from hydro processis Jarosite which is converted into a non-

hazardous waste by adding lime andcement. The resultant product is calledJarofix. We have made efforts at CLZS toexplore uses of Jarosite in cement industryas a set retarder. Lab studies have indicatedsuccess and a few cement plants havealready conducted plant scale trials and theinitial results are encouraging. We expect

that in the coming year, cement industrywill start using Jarosite in good quantities.

Separately, we have conducted researchon using Jarofix in highway construction,concluding that the Jarofix can be usedin embankment construction. Technicalaccreditation by Indian Road Congress (IRCis expected shortly which will pave way forlarge scale utilization in National Highways

Key to SuccessThere are very few, if any, examples ofuse of zinc slag, jarosite and/or jarofix inany application anywhere in the world.Our recipe for success has been -` A strong belief in Sustainable

Development principles, leadingto the motivation to exploreoff-site uses for solid wastes

` Availability of cement plants andhighways around Chanderiya smelter

` Innovative ways of thinking and findingappropriate usage areas for specific wast

` Forming dedicated and motivated teamfor solid waste utilization, empoweringthem to carry out research, discussionswith potential users and satisfying themas per their needs and then adequatelyrewarding the teams for success

Dedicated to explore off-site uses for solid waste

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Performance Aluminium

Production performanceThe saleable production during the yearended 31st March 2010 was 268,425 MTas against 356,781 MT during thecorresponding period of the previous year.The reduction was mainly due to loweravailability of metal on account of phasingout of plant 1 smelter. However with theinstallation of the new rod mills in Plant I

and increased availability of rolling mills theproduct mix was enriched.

Unit costsThe CoP of the metal during the year2009-10 was Rs. 72,717 PMT as againstRs. 74,517 PMT during the previous year.The reduction in cost is primarily due toreduction in alumina cost and reduction ofcarbon cost due to reduction in price of CT

Pitch and CP coke. However the decrease incost was partially offset by the unabsorbedfixed cost of Plant 1 charged to Plant 2 cost.

SalesDuring the year, the sales volume was267,802 MT as against 356,513 MT of thelast year. The revenues were lower by 30% atRs. 2,746 Crore. The lower sales were due to

lower availability of metal on account ofclosure of plant 1 smelter. However, the salesof rod and rolled product increased by 17%and 14% respectively as compared to theprevious year. Further the LME (1,868 USD)had gone down by 16% as compared to lastyear (2,234 USD) but the same was partlyoffset by improved product mix andcurrency depreciation of 3%.

Financial performanceEBITDA for FY2010 was lower by 32% atRs. 610 Crore. This was primarily due tolower production on account of phasingof plant I and 16% decrease in LME pricewhich was partially off-set by loweroperating costs and higher premium.

ProjectsBALCO Aluminium SmelterWork on the new 325,000 tpa aluminium

smelter at BALCO is progressing well. Themetal tapping is expected in Q4 FY 2011Construction of the 1,200MW captive poplant was disrupted in September 2009 dto the collapse of a chimney under-construction. Work had resumed in Janua2010 and is now in full swing. Despitedisruption for about four months, we areworking toward synchronisation of the fiunit of 300 MW in Q3 FY 2011 and remathree units progressively by Q2 FY2012.

Vedanta Aluminium LimitedLanjigarh Alumina Refinery

As scheduled, the second stream of the mt Lanjigarh Alumina refinery has beencommissioned. The 0.6 mt debottlenecproject will be commissioned in Q1 FY2which will be dependent on bauxiteavailability. Further 3 mtpa expansion ocapacity, in three lines of 1mt each, is noscheduled for commissioning progressivfrom Q4 FY2011.

Jharsuguda Aluminium SmelterAll nine units of 135 MW have beencommissioned. The commissioning of tremaining 76 pots of 500 ktpa Jharsugu

Smelter I is scheduled for Q1 FY2011. Thproject cost of the Jharsuguda I 500 ktpsmelter project increased from US$2.1 bto US$2.3 billion, mainly due to foreignexchange variations.

The 1.25 mtpa Jharsuguda Aluminiumsmelter project is on schedule for finalcompletion by Q2 FY 2013 with the firstmetal tapping now scheduled for Q2 FY

Table 3


Performances of Aluminium Business BALCO

Production volumes (000 tonnes)Aluminium 268 357 (25)Average LME Cash settlement prices (US per tonne) 1,868 2,234 (16)Unit costsBALCO Plant 2 (US$ per tonne) 1,534 1,623 (5)BALCO Plant 2 (Rs. per tonne) 72,717 74,517 (2)Revenue ( Rs. Crore) 2,746 3,934 (30)EBITDA (Rs. Crore) 610 895 (32)EBITDA Margin (%) 22 23Operating Profit (Rs. Crore) 378 686 (45)

Performances of Aluminium Business VALProduction volume (000 tonnes) 264 82 222Unit cost (US$ per tonne) 1,645

The performance of our Aluminium Business in FY2010 is set out in the table below.

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The performance of our Energy business inFY2010 is set out below.

Operational PerformanceDuring FY 2010, we sold 1,416 millionunits of power, compared with 231 millionunits in the previous year. This growth in

volume was mainly on account of surpluspower sales from 270 MW power plant atBALCO Plant I.

Financial PerformanceRevenue (net of inter-segment transfers) forFY 2010 was Rs. 658 Crore, compared withRs. 77 Crore in the previous year and EBITDAfor the FY 2010 was Rs. 418 Crore, comparedwith Rs. 94 Crore in the previous year.EBITDA was higher primarily on account ofhigher volumes and realisation rate, partiallyoffset by higher operating costs.

ProjectsSterlite Energy IPPWork on the 2,400MW (600MW x 4) coalbased commercial power plant atJharsuguda, Orissa is progressing well. Thefirst unit is scheduled to be commissionedby Q1 FY2011 with the remaining threeunits expected to be progressivelycommissioned by the end of FY 2011.

Performance Energy

We have obtained coal block allocations of112.2 million tonnes from the Ministry ofCoal of the Government of India to supportthis facility. We have also received provisionalcoal linkage of 2.57 mtpa which will besufficient for the generation of a substantialportion of the power in the first 600 MW unit

and coal linkage with respect to 1,800 MW ofcapacity is applied for. With respect to the coallinkage for the remaining three units, theStanding Linkage Committee hasrecommended the allocation of coal blocks.

On October 30, 2009, Sterlite Energy Limitedhas filed its Draft Red Herring Prospectus withSEBI for a proposed initial public offering of itsequity shares for an issue size of Rs. 5,100 Crore.

Talwandi Sabo IPPThe EPC contract has been finalised for the1,980 MW supercritical IPP project atTalwandi Sabo. The EPC contractor hasappointed subcontractors to carry outpre-construction activities at the site andorders have also been placed for turbines,generators and power houses. Projectcompletion is expected by Q2 FY 2014.

We have received provisional coal linkage for1,800 MW of capacity.

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Operational Performance

Human ResourcesOur philosophySterlite, as a part of Vedanta group, believesthat people are the biggest strength in linewith its vision to create a world-class

organization. Human Resources are the keypillar of any organization and especially sofor us, as the companys USP is to recruitfresh talent right out of colleges and groomthem into future leaders for the companythrough a bottom-up approach.

To support this belief, Sterlite has varioustalent management processes like the STARSof Business Program and Global LeadershipProgram for developing identified talents.Two Accelerated Competency Tracking andUpgradation (ACT-UP) workshops have beenconducted for selection of STARS of Business

and eighteen new STARS have beenidentified this year. As on date Sterlite hasaround 124 STARS either occupying criticalpositions or being groomed as second in lineto critical positions.

Similarly, BALCO and HZL have a policy ofdelegating and empowering its youngmanagers with the objective of evolvingpotential future leaders.

RecruitmentSterlite believes in recruiting the best talentfrom the campus and hence has a very

stringent selection process. The Sterliteteam is very young, energetic and vibrantwith the average age being 28.8 years. Wehave also introduced a Structured InductionModule for our new joinees spanning15 days covering all departments and plantprocesses. At the end of the 15 dayInduction, the new joinees also have toundergo a 3 day E-Learning Safety Modulebefore being put on to their work.

At the end of their induction they also havean informal interaction with SeniorManagement through a get together inwhich the new joinees are also given aplatform to exhibit their talents.

The Group recruits its Graduate Engineersand Graduate Trainees from EngineeringColleges in various states of India.

Training and productivitySterlite focuses on learning and development,to enhance the knowledge and skill, preparingits people to face the challenges. During theyear, we had organized various trainingprogrammes with an objective to achieve aminimum of three to four days of training forevery employee. The Company alsoparticipated in an Employee Perception

Survey by Hewitt Associates, which wasconducted to identify the shortcomingsacross all employee interface functions and anaction plan has been drawn to overcome suchshortcomings in future.

During the year training man days achievedwas 9.34 as against a set target of 8 with closeto 200 specially customized programs spreadover 9,200 man days. Team building programwas conducted for Senior Management andan In House Management DevelopmentProgram and other Development Programslike Leadership Excellence program and Seven

Habits of Highly Effective People wereorganized for grooming the STARS ofbusiness. Senior management has also beensent for Management Development Programsto IIMs, ISB, etc. Mentorship Program has alsobeen rejuvenated to provide structuredguidance to the young talent coming in. Wehave also initiated a 6 day training moduleIGNITE for all our employees coveringTechnical and Behavioral Skills.

HZL continued its focus on learning anddevelopment to build an enhanced andeffective knowledge base to provide skimanpower for the new expansions. Besthe technical training, 1,450 employees

covered under behavioral safety trainingnamed Suraksha Jyoti and 822 employwere imparted training under NavajagaTraining programmes on 5S, Quality CirSix Sigma, etc. were also organized.

BALCOs focus on manpower training andevelopment continued. During the yea2.29 training man-days were achieved pemployee and 3.13 man-days per executhrough 89 in-site and 50 off-site trainiprogrammes conducted by reputedinstitutions including, National SafetyCouncil, Confederation of Indian Indust

Indian Institute of Management,Ahmadabad, Institute for Miners andMetalworkers Education, Dhanbad, BITPilani amongst others.

Sterlite, as a part of Vedantagroup, believes that people are biggest strength in line with itsvision to create a world-classorganization.

In the past one year, Sterlite employeesproductivity has increased from 84.28 t101.52 metric tonnes per employee. Thibeen achieved mainly by making theorganization leaner at the top.

Knowledge managementAs part of the Know-L2-edge scheme,employees who expressed interest to threleased were put through a selectionprocess and a few employees were selecto be sent to foreign smelters. 10 of theselected employees have been sent toInternational smelters to benchmark an

implement global best practices. Theseemployees on their return share theirknowledge with their fellow employeesalso draw up an action plan forimplementation based on the knowledacquired. This learning is being implemeboth in day to day activities and is also liup for annual shut down and is to giveconsiderable cost savings to the compan

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At HZL, On-line Learning and DevelopmentSystem was launched to facilitate effectiveplanning and monitoring of learning anddevelopment initiatives and to enableemployees to nominate themselves for

training programs on need basis. An initiativeto reduce our cost of production was alsolaunched during the year in partnership withAccenture. Employees across all levels wereinvolved in brainstorming and identifyingcost reduction opportunities. More than 400employees have identified over 240 projectsunder this initiative. 92 quality circles are inplace in the company involving 726employees who identified problems andsolved them to improve productivity, qualityand other operational parameters.

Other Initiatives

Sterlite gives utmost importance to employeesWork-life balance. We have undertaken variousEmployee Engagement Initiatives to increaseour Employer of Choice Status.

We have introduced Employee Counsellingwhereby employees can come and sound offtheir problems with a seasoned counsellor.

Along with Vedanta Group, the Companysphilosophy of Shared Ownership is reflectedthrough the The Long Term Incentive Plan(LTIP), under which, meritorious employeesare granted options for Vedanta shares.

With a view to equip the employees withtools for systematic problem-solving on aday to day basis and to make continuousimprovement, programmes such as 5S,TPM, SPIDER, IDEAS @ Sterlite continued tobe in place.

HZL has signed a Long Term Settlementwith the Employees Federation, for a periodof five years.

New residential complex with modernfacilities at Dariba and starting a new school

at Vizag were some of the initiatives takento further improve the quality of life of theemployees.

During the year, BALCO offered VoluntaryRetirement to the employee which wasopted for by 250 employees.

Case study

Be the change you want to see inthe world.- Mahatma GandhiGood mentoring makes a crucial

difference in the way an individualsettles in and acclimatizes to the newworkplace and has a major bearing aswhether they choose to stay or not.

Mentoring leaves a lasting impressionMentoring has always occupied a criticalposition among the HR practices atSterlite Copper. At Sterlite we believein creating our own leaders and hencemost of our human resources recruitedare young and blossoming graduatesfresh out of college. Given this scenario,mentoring has only gained even more

importance over the past years. Eachperson who joins the company isattached to a mentor for a period ofone year with whom he can share bothpersonal and professional concerns.Mentoring has re-emerged as a powerfulway to help people reach their goalsand reaffirm their success and hencewe decided to take up a more robustapproach towards building and facilitatingthe Mentoring process at Sterlite.

Ones ability to develop others issomething any company rates itsindividuals upon, but in Sterlite we have

gone a step beyond. We went in forvoluntary nominations for Mentoringthis year and we had around 36 peoplevolunteering for the process. This wasdone to ensure that people who havethe innate need to mentor new joineeswould alone become mentors. We alsoengaged an external renowned expertto conduct an assessment and designan Intervention Roadmap for us.

As part of the Intervention the expert

visited company and held talks withthe HR Team, Mentors and Mentees tounderstand the current process beingfollowed and the expectations and needof the Mentees from the Mentorshipprocess. Based on the roadmapsuggested, new joinees were given inpuon how they can utilize the Mentee-Mentor relationship effectively as partof the Mentee Sensitization program.

We also had a Skill Building & Certificatioprogram for 40 Managers wherethey were given insights on different

personality types and how differentlyeach type has to be guided. Afterthe program we had 8 Managersvolunteering to become Mentors.

All these measures have encouragedpeople to mentor the new joineesand act like local guardians to them,guiding and counseling the new joineesas they settle down and adjust to thenew culture. It is not only the menteeswho have gained through the processbut also the Mentors who have becomemore mature individuals knowing howto nurture and groom future leaders.

When mentoring is right, the results canbe extraordinary and highly rewarding.We believe that we have set in placea process and sowed the seeds forretention and growth of our employeesAfter all, a mentor is someone whosehindsight can become your foresight.

Making Mentoring Happen

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Operational Performance continued

Information TechnologySterlite has implemented SAP R/3 in late 90sand has improvised year after year. All ourcritical business transactions across all the

operations are now tracked through SAPR/3.

In progress are big projects like Governance Riskand Compliance management

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