Dear Shareholders,

The Directors of your Company are pleased to present the 36th Annual Report, with the
statement of the audited accounts for the financial year that ended on 31 March 2011.


Financial Performance Summary

The following table gives the financial highlights of your Company on a standalone
basis according to the Indian Generally Accepted Accounting Principles (GAAP).

(Rs. in Crore)


  

    
Year ended on March 31
    
2011
    
2010
  
  

    
Gross Turnover
    
16,253.88
    
13,676.47
  
  

    
Earnings before interest, tax depreciation and amortisation
    
2,304.39
    
1,635.22
  
  

    
Less: Interest
    
277.46
    
263.25
  
  

    
Gross profit
    
2,026.93
    
1,371.97
  
  

    
Less: depreciation and amortisation
    
152.65
    
150.64
  
  

    
Exceptional items
    
-
    
273.53
  
  

    
Profit before tax
    
1,874.28
    
947.80
  
  

    
Taxation
    
454.57
    
116.30
  
  

    
Net Profit for the year
    
1,419.71
    
831.50
  
  

    
Add: balance brought forward from the previous year
    
2,590.98
    
2,683.41
  
  

    
Amount available for appropriation
    
4,010.69
    
3,514.91
  
  

    
Appropriation:
    

    

  
  

    
General reserve
    
500.00
    
500.00
  
  

    
Debenture redemption reserve
    
(8.50)
    
2.90
  
  

    
Additional Dividend on ADS issued in July 2009 (paid in September 2009)
    
-
    
53.54
  
  

    
Proposed dividend on equity shares (including dividend distribution tax thereon)
    
429.71
    
367.49
  
  

    
Balance carried forward to next year
    
3,089.48
    
2,590.98
  



Financial performance

During the year under review, the gross turnover of your Company increased by 18.85%
from Rs. 13,676.47 Crore to Rs. 16,253.88 Crore. The increase in turnover by 18.85% was
primarily due to the increase in the average Copper LME prices from US$ 6,112 / MT to US$
8,138 / MT.

TC / RC (Treatment Charges and Refining Charges) realisation in the financial year 2011
was 11.90 USc / lb, as compared to the 13.54 USc / lb in the previous year due to
suppressed spot TC / RCs market.

The earnings before interest, tax depreciation and amortisation for the same period
increased by 40.92% from Rs. 1,635.22 Crore to Rs. 2,304.39 Crore and the Net Profit
increased by 70.74% from Rs. 831.50 Crore to Rs. 1,419.71 Crore in the current year.


Operational Performance

The year under review was very challenging due to lower TC / RC and higher input costs,
thereby reducing the product margin. Sulphuric acid and phosphoric acid realisation was
higher as compared to the previous year in line, with the increasing sulphur prices.
Production was also affected due to planned bi-annual maintenance shutdown and also due to
temporary stoppage of the Tuticorin copper smelter as per the Honourable Madras High Court
order, dated 28 September 2010 for closure of Tuticorin copper unit.

The operational performance was as follows:


  

    
Product
    
2010-11
    
2009-10
    
Variance
  
  

    
Copper Cathodes
    
3,03,991 MT
    
3,34,174 MT
    
(9.0%)
  
  

    
Copper Rods
    
1,87,892 MT
    
1,96,882 MT
    
(4.6%)
  
  

    
Sulphuric Acid
    
9,68,760 MT
    
10,36,353 MT
    
(6.5%)
  
  

    
Phosphoric Acid
    
1,54,232 MT
    
2,05,844 MT
    
(25.1%)
  


During the year under review, your Company consolidated its leadership position in
domestic copper with record sales of 2,06,653 MT. Production of cathodes was 3,03,991 MT
in the financial year 2011, lower by 9% year on year reflecting both the impact of the
planned maintenance undertaken, the effect of lower copper grades in concentrate on
production and temporary stoppage following the High Court order in end September 2010. On
the Special Leave Petition (SLP) filed by the Company, Honourable Supreme Court of India
stayed the operation of the order of Madras High Court directing closure of Copper Smelter
at Tuticorin. The unit is currently operational at it's full capacity. Your Company also
exported 96,674 MT of copper, including exports of 31,377 MT of copper rods.


Projects

Copper Smelter - Four Lakh Tonnes Per Annum (4 LTPA) and 2 x 80 Rs. 160 MW Captive
Power Plant

The construction of the Captive Power Plant at Tuticorin is in progress and the first
unit is now scheduled for commissioning in Q4 of the financial year 2011-12. While the
Ministry of Environment & Forest (MoEF) clearance is in place for the 4 LTPA, the
Copper Smelter Expansion Project at Tuticorin is being rescheduled, awaiting the consent
from the State Pollution Control Board.


TRANSFER TO GENERAL RESERVES

Out of the total profit of Rs. 1,419.71 Crore for the financial year 2010-11, an amount
of Rs. 500 Crore is proposed to be transferred to the General Reserve. The above transfer
to general reserves is in compliance to the Companies (Transfer of Profits to Reserves)
Rules, 1975.


DIVIDEND

Your Directors are pleased to recommend a dividend of Rs. 1.10 per equity share of Rs.
1/- each (i.e. 110%) for the financial year 2010-11. The dividend, when approved at the
ensuing Annual General Meeting, will be paid to those shareholders whose names appear on
the register of members of the Company as on the Book Closure date.


BONUS AND SPLIT

The Board of Directors at its meeting held on 26 April 2010 approved sub-division of
the Equity Shares from face value of Rs. 2/- each to face value of Rs. 1/- each and also a
bonus issue in the ratio of 1:1 equity shares. The approval of the shareholders of the
Company was obtained at the 35th Annual General Meeting held on 11 June 2010. The Record
Date to determine the shareholders entitled for the stock split and bonus was 22 June
2010. The Committee of Directors, in their meeting held on 23 June 2010, considered,
approved and allotted 1,68,04,06,690 Equity Shares of Rs. 1/- each towards the bonus in
the ratio of 1:1 equity shares.


SHARE CAPITAL

Pursuant to the shareholders approval at the 35th Annual General Meeting on 11 June
2010 and the Record Date of 22 June 2010, the Company's stock split from Rs. 2/- to Rs.
1/- and Bonus in the ratio of 1:1 Equity Shares of Rs. 1/- was issued to the shareholders.
The Company's issued and paid up capital increased to Rs. 336.12 Crore (consisting of
3,36,12,07,534 Equity Shares of Rs. 1/- each) from Rs. 168.08 Crore (consisting of
84,04,00,422 Equity Shares of Rs. 2/- each).


Acquisition of Zinc Mining Companies

During 2010-11 the Company through one of its wholly owned subsidiaries completed the
acquisition of Zinc assets of Anglo American Plc. ("Anglo Zinc") comprising its
Skorpion mines in Namibia, Lisheen mines in Ireland and its 74% owned Black Mountain mines
in South Africa, which includes the Black Mountain mine and the Gamsberg project. These
Zinc assets are an excellent operational and strategic fit with our existing zinc business
and are expected to create significant long term value.


Credit Rating

CRISIL has upgraded its ratings of your Company's cash credit facility and
non-convertible debentures to 'AA+/Stable' from 'AA/Stable'. The upgrade reflects
CRISIL's expectation of significant improvement in the Company's capital structure than
previously envisaged, and also reflects the group's continued strong business performance
and the good progress in the group's ongoing projects. The rating on Sterlite's short-term
facilities has been reaffirmed at 'P1+'. The treasury portfolio of fixed income
investments has been evaluated as 'Very Good' (highest safety from credit default
on CRISIL's 4 point scale). Strong credit ratings by Credit Rating agencies reflect the
Company's financial discipline and prudence.


CORPORATE GOVERNANCE AND ADDITIONAL INFORMATION TO SHAREHOLDERS

The Company is committed to maintain highest standards of corporate governance. A
separate report on Corporate Governance, pursuant to Clause 49 of the Listing Agreement
with the stock exchange(s), Auditors' Certificate on its compliance, including the
Management Discussion and Analysis, and shareholders' information, forms a part of this
annual report.


MANAGEMENT DISCUSSION AND ANALYSIS 

General Economic Outlook

Global economic growth exceeded our expectation in the financial year 2010-11, although
the global economy remained volatile. Commodity prices declined at the start of the year
but recovered in the second half as European Sovereign debt concerns receded and developed
economies started to stabilise. Demand from Asian Economies remained robust and was key
driver of growth.

The strong growth story in India with consumption of basic commodities increasing
throughout the year. From Sterlites perspective this meant our sustained investment in the
down-turn of 2008-09, reaped rewards. Against the backdrop of this favourable increase in
demand and strong prices, we delivered record production and a very strong set of results
across our business as we focused on delivering operational excellence and sustained
volume growth.

Similar to last year, overall Indian copper demand grew by 4% in the financial year
2010-11. The demand of refined copper has been average in the second half of 2010-11, on
account of rising LME and increasing gap between primary and secondary copper. Compared to
the financial year 2009-10, in the domestic market, Sterlite recorded a 9% rise in sales
of copper cathodes. There has been an increase in the consumption of refined copper to the
extent of 5% in the transformer segment. SIIL enjoyed nearly 50% share across all the
major segments-winding wire, transformers & cable segments during the financial year
2010-11. Growth in these major segments is well supported by the fact of increasing
investments in the power sector in India. 32,512 MW of power capacity has been already
added under the eleventh 'five year plan'.

Yet, over the span of the year, the Indian economy posted a remarkable recovery, not
only in terms of overall growth figures but, more importantly, in terms of certain
fundamentals, which justify optimism for the Indian economy in the medium to long term.
Your Company also feels that the worst is over and is fully geared to take advantage of
the improved economic indicators.

A detailed Management Discussion and Analysis Report forming part of this report as
required under Clause 49(IV)(F) of the Listing Agreement with the Stock Exchanges is
provided in a separate section of this Annual Report.


SUBSIDIARY COMPANIES

Your Company had 36 subsidiary companies as on 31 March 2011.

The shareholders may refer to the statement under Section 212 of the Companies Act,
1956 and information on the financial statements of subsidiaries appended to the above
Statement under Section 212 of the Companies Act, 1956 in this Annual Report for further
information on these subsidiaries.

The Company undertakes that annual accounts of the subsidiary companies and the related
detailed information be made available to shareholders of the holding and subsidiary
companies seeking such information at any point of time. The annual accounts of the
subsidiary companies are also kept for inspection by any shareholders at the registered
office of the holding company and of the subsidiary companies concerned at the respective
companies' registered offices. A hard copy of details of accounts of subsidiaries to any
shareholder shall be provided on demand.

Members may write to the Company Secretary at Sterlite Industries (India) Limited,
SIPCOT Industrial Complex, Madurai By-pass Road, Tuticorin Rs. 628 002 to obtain a copy of
the financial statements of the subsidiary companies.

The consolidated financial statements, in terms of Clause 32 of the Listing Agreement
and in terms of Accounting Standards 21, as prescribed by Companies (Accounting Standards)
Rules, 2006 issued by Ministry of Corporate Affairs vide notification no. G.S.R. 739 (E)
dated 07 December 2006, also form part of this Annual Report.


FIXED DEPOSITS

Your Company has not accepted or renewed any fixed deposits under Section 58A of the
Companies Act, 1956. No amount of principal or interest was outstanding as on 31 March
2011.


DIRECTORS

Mr. Sandeep Junnarkar retires by rotation at the ensuing Annual General Meeting
scheduled on 23 July 2011 and is eligible offer himself a re-appointment. The brief
profiles of Mr. Sandeep Junnarkar is given in the chapter on Corporate Governance.


SECRETARIAL AUDIT REPORT

A secretarial audit for the year 2010-11 was carried out by Dr. K. R. Chandratre,
Practicing Company Secretary. The said secretarial audit unqualified report forms part of
this Annual Report.

The secretarial audit report confirms that the Company has complied with all the
applicable provisions of the Companies Act, 1956, Depositories Act, 1996, Listing
Agreements with the Stock Exchanges, Securities Contracts (Regulation) Act, 1956 and all
the regulations of SEBI as applicable to the Company, including the Securities and
Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations,
1997 and the Securities and Exchange Board of India (Prohibition of Insider Trading)
Regulations, 1992.


INFORMATION PURSUANT TO SECTION 217 OF THE COMPANIES ACT, 1956

A. CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENTS, TECHNOLOGY ABSORPTION, FOREIGN
EXCHANGE EARNINGS AND OUTGO

The particulars as prescribed under Section 217(1)(e) of the Companies Act, 1956, read
with the Companies (Disclosure of Particulars in the Report of the Board of Directors)
Rules, 1988 are set out as an annexure to the Directors' Report.


B. PARTICULARS OF EMPLOYEES

Pursuant to the provisions of Section 217(2A) of the Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975 as amended, the names and other
particulars of employees are set out as an annexure to the Directors' Report. However, as
per provisions of Section 219(1)(b)(iv) of the Companies Act, 1956, the report and the
accounts are being sent to all the shareholders excluding the aforesaid information. Any
shareholder desirous of obtaining such particulars may write to the Company Secretary at
the registered office of the Company.


C. DIRECTORS' RESPONSIBILITY STATEMENT

As required under Section 217(2AA) of the Companies Act, 1956, your Directors hereby
confirm that:

• In the preparation of the annual accounts, applicable accounting standards have
been followed along with proper explanations relating to material departures;

• Such accounting policies have been selected and they have consistently applied
them and made judgements and estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of the Company at the end of the financial year
and of the profit of the Company for that period;

• Proper and sufficient care for maintenance of adequate accounting records have
been taken in accordance with the provisions of this Act, for safeguarding the assets of
the Company, and for preventing and detecting fraud and other irregularities;

• The accounts are prepared on 'going concern' basis.


AUDITORS

The statutory auditors of the Company, M/s. Chaturvedi & Shah, Chartered
Accountants and M/s. Deloitte Haskins & Sells, Chartered Accountants, retire at the
ensuing Annual General Meeting.

M/s. Chaturvedi & Shah and M/s. Deloitte Haskins & Sells, Chartered Accountants
have confirmed their eligibility and willingness to accept office of Auditors.

The Audit Committee and the Board of Directors therefore recommend M/s. Chaturvedi
& Shah and M/s. Deloitte Haskins & Sells, Chartered Accountants as statutory
auditors of the Company for 2011-12 for the approval of shareholders.


ADEQUACY OF INTERNAL CONTROLS

The Company, as part of Vedanta Group, has a strong internal control system in place.
The internal control system of the Company is supported by the Management Assurances
Services (MAS) function. Your Company is having a documented Standard Operating System
(SOPs) for procurement, project / expansion management, capex, human resources, sales and
marketing, finance, treasury, compliance, Safety, Health and Environment (SHE) and
manufacturing.

An annual audit plan is drawn in consultation with the MAS team as approved by the
Audit Committee. The internal controls system and mechanism is reviewed periodically to
make it robust, so as to meet the challenges of the business. The Company has a system of
carrying out internal audit, covering monthly physical verification of inventory, monthly
review of accounts and a quarterly review of all business processes. To enhance internal
controls, the internal audit follows stringent grading mechanism, focusing on the
implementation of all recommendations of internal auditors. The internal auditors make
periodical presentations to the Audit Committee, who review the same and ensure strict
compliance.

Our risk management framework acts as an effective tool in mitigating the various risks
which our business are exposed in the course of their operations as well as in their
strategic action. The risk management framework 'Turnbull Risk Matrix' is designed to help
the organisation meet its objectives through alignment of the operating controls to the
mission and vision of the Company. The Company also has a well documented internal
controls systems and disclosure control required for compliance to the Sarbanes Oxley Act
of 2002.


AUDITORS' QUALIFICATION SYSTEM ON ACCOUNTS

Notes to the accounts, as referred in the auditors report, are self-explanatory and
consistently followed, and therefore do not call for any further comments and
explanations.


GROUP STRUCTURE

Pursuant to intimation from the Promoters, the names of the Promoters and entities
comprising 'Group' are disclosed in the Annual Report for the purposes of the SEBI
(Substantial Acquisitions of Shares and Takeovers) Regulations, 1997.


DEPOSITORY SYSTEM AND LISTING OF SHARES

Details of the depository system and listing of shares are given in the section
"Additional Shareholder Information", which forms a part of the Corporate
Governance Report and is attached with the Annual Accounts.


REGISTRAR AND SHARE TRANSFER AGENT

M/s. Karvy Computershare Private Limited, Hyderabad, are the Registrar and Share
Transfer Agent of the Company. Details of the depository system and listing of shares are
given in the section "Additional Shareholder Information", which forms a part of
the Corporate Governance Report and is attached with the Annual Accounts.


HUMAN RESOURCES

Your Company, as a part of 'Vedanta' group, believes that people are the biggest
strength in line with its vision to create a world-class organisation. It focuses on
learning and development, to enhance the knowledge & skill and preparing its people to
face the challenges. During the year, your Company organised various training programmes
and achieved an average of seven days of training for employees.


CORPORATE SOCIAL RESPONSIBILITY

The Company began the CSR activity twelve years ago. Sterlite believes that Corporate
Social Responsibility (CSR) initiatives are a way to pay back societal debts and
obligations. All our CSR activities are determined by the concept of 'Changing Lives',
where we constantly endeavour to improve the quality of life of the communities where we
operate. Our CSR activities are conceived to bridge gaps in society and help transform
communities around our workplace and enhance the quality life of the people. The Company
does its maximum contribution to uplift the quality of life of women, children and youth
in our focus areas.

A detailed report on the Corporate Social Responsibility of your Company is given in a
separate section in this Annual Report. 


ACKNOWLEDGEMENTS

Your Company maintained healthy, cordial and harmonious industrial relations at all
levels. The enthusiasm and unstinting efforts of the employee have enabled your Company to
remain at the forefront of the industry. The Directors place on record, their sincere
appreciation for significant contributions made by the employees through their dedication,
hard work and commitment towards the success and growth of the Company.

The Directors also acknowledge the support and assistance extended to us by the
Government of India, various state governments, and government departments, financial
institutions, bankers, shareholders and investors at large, and look forward to having the
same support in our endeavours.

For and on behalf of the Board of Directors,


Anil Agarwal

Chairman

Place: Mumbai 

Dated: 25 April 2011


Annexure-A

Statement containing particulars required under the companies (Disclosure of
particulars in the report of the Board of Directors) Rules, 1988 and forming part of the
Directors' Report for the year, that ended 31 March 2011.

(A) Conservation of energy:

a) Conservation of natural resources continues to be the key focus area of our Company.
Following are some of the important steps taken in this direction.

i. Cast wheel LPG consumption reduction in CCR by modification to the Intermediate
Launder giving a saving of Rs. 80 lakhs per annum.

ii. LPG consumption reduced by 1 kg / MT of anode by:

1. Covering exposed launders to reduce heat loss.

2. Use of Nitrogen during oxidation in anode furnace -Savings of approximately Rs. 60
lakhs per annum.

iii. IGV installation in O2 plant booster air compressor -Savings of approximately Rs.
15 lakhs per annum.

iv. Air audit conducted by IR and recommendations implemented - Savings of
approximately Rs. 35 lakhs per annum.

v. Conventional Cooling Tower replaced with Air Coolers -Savings of approximately Rs.
11 lakhs per annum.

vi. Twin Lobe blower installed in PMB in place of Compressor resulting in steam
reduction by 5%.

vii. High Efficiency Pumps installed at various locations in Chinchpada & Piparia
resulting in a saving of Rs. 2.5 lakhs units per annum.

viii. Fan less & Finless Cooling Tower installed resulting in considerable saving
of energy.

ix. Conventional Chokes replaced with Electronic Ballast in Piparia resulting in power
saving of 33,000 units per annum.

x. Usage of Flux Maxios at Piparia has reduced consumption of LPG by 0.5 kg / MT.

xi. Usage of LNG at CCR in place of LPG resulting in a reduction of Rs. 800 per MT at
Silvassa.


b) Additional investments and proposals, if any, being implemented for reduction of
consumption of energy

i. Conversion of HT to LT motors in slag granulation.

ii. Use of blowers in place of compressed air in ETP.

iii. Use of steam from WHRB (Waste Heat Recovery Boiler) in SAP for use in Refinery.


c) Impact of above measures in a) and b) for reduction of energy consumption and
consequent impact of cost of production of goods.

The efforts taken to conserve energy will not only bring down the cost of production
significantly, but will also help us preserve environment.


d) Total energy consumption and energy consumption per unit of production.

As per form A attached.


(B) TECHNOLOGY ABSORPTION

Efforts made in technology absorption as per Form B annexed.


(C) FOREIGN EXCHANGE EARNINGS AND OUTGO

a) Activities relating to export, initiatives taken to increase export, development of
new export markets for products and services, and export plan:

1. The export volume for 2010-11 was 96,674 MT, declined by 24% from the previous year.

2. There was a decrease in the volume of export of copper rods by 24% in the value
added products (copper wire rods) over the achievement made in 2009-10, mainly due to the
surplus availability in the overseas market.


b) Total Foreign Exchange used and earned:

Amount (Rs. in Crore)


  

    

    
2010-11
    
2009-10
  
  

    
1) Foreign exchange earnings
    
6,653.59
    
6,019.99
  
  

    
2) Foreign exchange outgo: CIF Value of imports of Raw Material, Components &
    Spare Parts
    
14,391.75
    
12,110.99
  
  

    
Capital Goods
    
1.31
    
5.71
  
  

    
Others
    
258.11
    
540.73
  



Form 'A'

Disclosure of particulars with respect to conservation of energy


  

    
Particulars
    
Unit
    
Year Ended 31 March 2011
    
Year Ended 31 March 2010 
  
  

    
A. Power and Fuel Consumption
    

    

    

  
  

    
Electricity
    

    

    

  
  

    
Purchase Unit
    
MWH
    
3,99,555
    
2,11,047
  
  

    
Total Amount (Excess Demand Charges)
    
Rs. in Crore
    
170.45
    
87.32
  
  

    
Rate / Unit
    

    
4.27
    
4.14
  
  

    
Own generation Unit*
    
MWH
    
2,32,349
    
3,39,301
  
  

    
Unit per unit of fuel
    

    
6.67
    
4.83
  
  

    
Cost / Unit
    

    
6.32
    
5.32
  
  

    
Furnace Oil**
    

    

    

  
  

    
Quantity
    
KL
    
50,949
    
90,385
  
  

    
Total Amount
    
Rs. in Crore
    
176.73
    
206.31
  
  

    
Average Cost per litre
    

    
34.69
    
22.83
  
  

    
Diesel
    

    

    

  
  

    
Quantity
    
KL
    
874
    
621
  
  

    
Total Amount
    
Rs. in Crore
    
2.95
    
1.90
  
  

    
Average Cost per litre
    
-
    
33.75
    
30.66
  
  

    
L.P.G. / Propane / IPA
    

    

    

  
  

    
Quantity
    
MT
    
14,927
    
10,710
  
  

    
Total Amount
    
Rs. in Crore
    
59.52
    
36.42
  
  

    
Average Cost per litre
    
-
    
39.88
    
34.00
  
  

    
NATURAL BRIQUTTE
    

    

    

  
  

    
Quantity
    
MT
    
3,201
    
-
  
  

    
Total amount
    
Rs. in Crore
    
1.35
    
-
  
  

    
Average cost per mt
    
-
    
4,226.96
    
-
  
  

    
B. Consumption per MT of Production
    

    

    

  
  

    
Electricity
    
MWH
    
3.03
    
1.65
  
  

    
Furnace Oil
    
KL
    
0.24
    
0.27
  
  

    
Diesel Oil
    
KL
    
0.01
    
0.01
  
  

    
L.P.G. / Propane / IPA
    
MT
    
0.07
    
0.03
  


* This includes the WHRB generation also. 

** This includes the FO consumed in CPP also.


Form 'B'

Form of disclosure of particulars with respect to technology absorption

RESEARCH AND DEVELOPMENT (R & D)


  

    
1. Specific areas in which R & D carried out by the Company
    
Not Applicable
  
  

    
2. Benefits as a result of R & D
    
Not Applicable
  
  

    
3. Future plan of action
    
Not Applicable
  
  

    
4. Expenditure on R & D
    

  
  

    
a. Capital
    

  
  

    
b. Recurring
    
Not Applicable
  
  

    
c. Total
    

  
  

    
d. Total R & D expenditure as a percentage of total turnover
    

  



TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION


  

    
1. Efforts in brief made towards technology absorption, adaptation and innovation
    
i. Conversion of HT to LT motors in slag granulation area;
  
  

    

    
ii. Use of blowers in place of compressed air in ETP;
  
  

    

    
iii. Use of steam from WHRB in SAP for use in refinery;
  
  

    

    
iv. Use of LNG at CCR Chinchpada in place of LPG;
  
  

    

    
v. Twin Lobe blower installed in PMB in place of Compressor resulting in steam
    reduction by 5%;
  
  

    

    
vi. High Efficiency Pumps installed at various locations in Chinchpada & Piparia
    resulting in a saving of 2.5 lakh units per annum;
  
  

    

    
vii. Fanless & Finless Cooling Tower installed resulting in a saving of 2 lakh
    units;
  
  

    

    
viii. Conventional Chokes replaced with Electronic Ballast in Piparia resulting in
    power saving of 33,000 units per annum;
  
  

    

    
ix. Usage of Flux Maxios at Piparia has reduced consumption of LPG by 0.5 kg / MT;
  
  

    

    
x. Usage of LNG at CCR in place of LPG resulting in a reduction of Rs. 800 per MT.
  
  

    
2. Benefits derived as a result of above efforts e.g., product improvement, cost
    reduction, product development, import substitution.
    
The Above mentioned initiatives have resulted in a lower cost of production and a
    better working environment.
  
  

    
3. In case of imported technology (imported during the last 5 years reckoned from the
    beginning of the financial year), the following information may be furnished:
    
1. Selenium Plant - Outokempu Outotec OYJ (Year 2005)
  
  

    
a. Technology imported;
    
2. Bismuth Plant - IBC Advanced Technologies (Year 2007)
  
  

    
b. Year of import;
    
3. Dore Plant - Outokempu Outotec OYJ (Year 2009)
  
  

    
c. Has technology been fully absorbed.
    
The technology has been fully absorbed.
  



Annexure to the Directors' Report

List of companies / persons constituting Group coming within the definition of
"group" for the purpose of the SEBI (Substantial Acquisitions of Shares and
Takeovers) Regulations, 1997, include the following:

Sr. No.Name of Group Companies

1. Volcan Investments Limited, Bahamas

2. Vedanta Resources Plc, United Kingdom

3. Vedanta Finance (Jersey) Limited, Jersey

4. Vedanta Resources Holdings Limited, United Kingdom

5. Twin star Holdings Limited, Mauritius

6. Welter Trading Limited, Cyprus

7. Vedanta Resources Finance Limited, United Kingdom

8. Vedanta Resources Cyprus Limited, Cyprus

9. Richter Holding Limited, Cyprus

10. Westglobe Limited, Mauritius

11. Finsider International Company Limited, United Kingdom

12. Sesa Goa Limited, India

13. Konkola Copper Mines Plc, Zambia

14. Vedanta Aluminium Limited, India

15. The Madras Aluminium Company Limited

16. Sterlite Infra Limited, India

17. Sterlite Opportunities and Ventures Limited, India

18. Talwandi Sabo Power Limited, India

19. Hindustan Zinc Limited, India

20. Bharat Aluminium Company Limited, India

21. Twin star Mauritius Holdings Limited, Mauritius

22. Konkola Resources Plc, UK

23. Vedanta Resources Investments Limited, United Kingdom

24. Twin Star Energy Holdings Ltd., Mauritius

25. Monte Cello BV, Netherlands

26. Sterlite Energy Limited, India

27. Copper Mines of Tasmania Pty Ltd, Australia

28. Sterlite (USA) Inc., USA

29. Fujairah Gold FZE, UAE

30. Thalanga Copper Mines Pty Ltd., Australia

31. Monte Cello Corporation NV, Netherlands Antilles

32. Anil Agarwal Discretionary Trust, Bahamas

33. Onclave PTC Limited, Bahamas

34. Lakomasko BV, Netherlands

35. Vedanta Jersey Investments Limited, Jersey

36. Vedanta Resources Jersey Limited, Jersey

37. Vedanta Resources Jersey II Limited, Jersey

38. Sesa Resources Limited, India

39. Sesa Mining Corporation Limited, India

40. Goa Maritime Private Limited, India

41. Vizag General Cargo Berth Private Limited, India

42. Allied Port Services Private Limited, India

43. MALCO Industries Limited, India

44. MALCO Power Company Limited, India

45. Mr. Anil Agarwal

46. Paradip Multi Cargo Berth Private Limited, India

47. Sesa Industries Limited, India

48. THL Zinc Ventures Limited, Mauritius

49. THL Zinc Holding BV, Netherlands

50. THL Zinc Limited, Mauritius

51. THL Zinc Holding Cooperatief U.A., Netherlands

52. Pecvest 17 Proprietary Limited, South Africa

53. THL Zinc Namibia Holdings (Proprietary) Limited, Namibia

54. Black Mountain Mining (Proprietary) Ltd., South Africa

55. Skorpion Zinc (Proprietary) Limited, Namibia

56. Namzinc (Proprietary) Ltd, Namibia

57. Skorpion Mining Company (Proprietary) Ltd.

58. Amica Guesthouse (Proprietary) Ltd.

59. Rosh Pinah Health Care (Proprietary) Ltd.

60. Rokshar Township (Proprietary) Ltd.

61. Vedanta Lisheen Finance Limited, Ireland

62. Vedanta Base Metals (Ireland) Limited, Ireland

63. Vedanta Lisheen Mining Limited, Ireland

64. Killoran Lisheen Mining Limited, Ireland

65. Killoran Lisheen Finance Limited, Ireland

66. Lisheen Milling Limited, Ireland

67. Killoran Concentrates Limited, Ireland

68. Killoran Lisheen Limited, Ireland

69. Azela Limited, Ireland

70. Killoran Lisheen Holdings Limited, Ireland

For and on behalf of the Board of Directors


Anil Agarwal

Chairman

Place: Mumbai 

Dated: 25 April 2011