| 
::: Annual Results :::
[
Annual Results Archives ]
THE TATA IRON AND STEEL COMPANY LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Financial Results for the Quarter/Year Ended on 31st March, 2005
| |
|
|
Nine Months ended on
31.12.2004 |
Quarter ended on
31.03.2005 |
Corresponding quarter ended on
31.03.2004
in the Previous year
(Unaudited) |
Financial Year ended on 31.03.2005 |
Previous Financial Year ended on
31.03.2004 |
| |
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
| (A) |
| 1 |
Steel Production |
Tonnes |
3,093,926 |
980,353 |
1,032,366 |
4,074,279 |
4,076,457 |
| 2 |
Steel Sales |
" |
2,903,036 |
1,010,336 |
1,053,333 |
3,913,372 |
3,961,532 |
| 3 |
Export Turnover
(F.O.B. Value) |
Rs. Crores |
1,522.95 |
519.90 |
439.52 |
2,042.85 |
1,494.96 |
| US $ Mill. |
335.36 |
118.77 |
97.62 |
454.13 |
327.37 |
| (B) |
| 1 |
Sales/Income from Operations |
Rs. Crores |
11,603.74 |
4,273.13 |
3,490.05 |
15,876.87 |
11,920.96 |
| |
Less: Excise Duty |
" |
969.44 |
408.48 |
289.78 |
1,377.92 |
1,218.57 |
| |
Net Sales/Income from Operations |
" |
10,634.30 |
3,864.65 |
3,200.27 |
14,498.95 |
10,702.39 |
| 2 |
Total Expenditure |
|
|
|
|
|
|
| |
a) (Increase)
/decrease in stock in trade |
" |
(408.48) |
118.93 |
59.41 |
(289.55) |
(80.31) |
| |
b) Purchase of finished, semi-finished steel and other products |
" |
962.30 |
342.98 |
228.76 |
1,305.28 |
767.13 |
| |
c) Raw materials consumed |
" |
1,323.32 |
391.82 |
409.81 |
1,715.14 |
1,478.29 |
| |
d) Staff Cost |
" |
972.71 |
318.29 |
317.40 |
1,291.00 |
1,349.59 |
| |
e) Purchase of Power |
" |
531.72 |
180.28 |
158.03 |
712.00 |
667.53 |
| |
f) Freight and handling |
" |
676.67 |
260.01 |
188.37 |
936.68 |
748.44 |
| |
g) Other Expenditure |
" |
1,973.63 |
809.41 |
655.05 |
2,783.04 |
2,276.31 |
| |
h) Total Expenditure
(2a to 2g) |
" |
6,031.87 |
2,421.72 |
2,016.83 |
8,453.59 |
7,206.98 |
| 3 |
Operating Profit |
" |
4,602.43 |
1,442.93 |
1,183.44 |
6,045.36 |
3,495.41 |
| 4 |
Other Income |
" |
118.29 |
29.74 |
39.84 |
148.03 |
140.51 |
| 5 |
Interest (net) |
" |
177.36 |
9.44 |
(71.02) |
186.80 |
122.17 |
| 6 |
Depreciation |
" |
466.55 |
152.23 |
185.64 |
618.78 |
625.11 |
| 7 |
Profit before Tax and Exceptional Items (3+4-5-6) |
" |
4,076.81 |
1,311.00 |
1,108.66 |
5,387.81 |
2,888.64 |
| 8 |
Exceptional Items |
|
|
|
|
|
|
| |
a) Employee Separation Compensation |
" |
(80.86) |
(38.25) |
(138.20) |
(119.11) |
(230.83) |
| |
b) Profit on sale of long term investments |
" |
28.58 |
- |
(0.24) |
28.58 |
8.15 |
| |
c) Total of Exceptional items (8a+8b) |
" |
(52.28) |
(38.25) |
(138.44) |
(90.53) |
(222.68) |
| 9 |
Profit before Tax(7-8c) |
" |
4,024.53 |
1,272.75 |
970.22 |
5,297.28 |
2,665.96 |
| 10 |
Provision for Current Taxation |
" |
1,440.00 |
393.66 |
338.15 |
1,833.66 |
920.00 |
| 11 |
Provision for Deferred Taxation |
" |
18.95 |
(29.49) |
3.19 |
(10.54) |
(0.26) |
| 12 |
Net Profit (+) / Loss (-) (9-10-11) |
" |
2,565.58 |
908.58 |
628.88 |
3,474.16 |
1,746.22 |
| 13 |
Paid-up Equity Share Capital (Face Value : Rs 10 per Share) |
" |
553.67 |
553.67 |
369.18 |
553.67 |
369.18 |
| 14 |
Reserves excluding revaluation reserves |
" |
|
|
|
7,326.67 |
4,146.68 |
| 15 |
Basic and Diluted Earnings per Share (not annualised) (after Exceptional
items) |
Rupees |
46.35 |
16.42 |
11.36 |
62.77 |
31.55 |
| 16 |
Aggregate of Non-promoter Shareholding |
|
|
|
|
|
|
| |
Number
of shares |
Nos. |
406,501,361 |
406,463,440 |
271,966,962 |
406,463,440 |
271,966,962 |
| |
% of shareholding |
% |
73.45% |
73.44% |
73.71% |
73.44% |
73.71% |
NOTES:
1. Segment Revenue, Results and Capital Employed
| (Rs. Crores) |
| Particulars |
Quarter ended on
31.03.2005 |
Corresponding Quarter ended on 31.03.2004 in the
previous year
(Unaudited) |
Financial Year ended
on
31.03.2005 |
Previous Financial Year ended
on
31.03.2004 |
| |
| Revenue by Business Segment |
|
|
|
|
| Steel business |
3,455.78 |
2,980.22 |
12,992.49 |
9,875.81 |
| Ferro Alloys & Minerals |
362.16 |
230.77 |
1,449.64 |
730.17 |
| Others |
267.64 |
202.37 |
888.27 |
692.99 |
| Total |
4,085.58 |
3,413.36 |
15,330.40 |
11,298.97 |
| Less: Inter segment revenue |
220.93 |
213.09 |
831.45 |
596.58 |
| Net Sales/ Income from
operations |
3,864.65 |
3,200.27 |
14,498.95 |
10,702.39 |
| Segment results before interest, exceptional items and tax |
|
|
|
|
| Steel business |
1,141.80 |
961.58 |
4,764.60 |
2,775.83 |
| Ferro Alloys & Minerals |
164.65 |
52.95 |
700.89 |
170.38 |
| Others |
8.88 |
15.29 |
38.84 |
24.35 |
| Total |
1,315.33 |
1,029.82 |
5,504.33 |
2,970.56 |
| Less: |
| Interest |
9.44 |
(71.02) |
186.80 |
122.17 |
| Other unallocable (income) /expenditure |
(5.11) |
(7.82) |
(70.28) |
(40.25) |
| Profit before Tax
and Exceptional Items |
1,311.00 |
1,108.66 |
5,387.81 |
2,888.64 |
| Exceptional items |
|
|
|
|
| Employees Separation Compensation |
(38.25) |
(138.20) |
(119.11) |
(230.83) |
| Profit on Sale of Long Term Investments |
- |
(0.24) |
28.58 |
8.15 |
| Profit before Tax |
1,272.75 |
970.22 |
5,297.28 |
2,665.96 |
| Less: Taxes |
364.17 |
341.34 |
1,823.12 |
919.74 |
| Profit
after Tax |
908.58 |
628.88 |
3,474.16 |
1746.22 |
| Segment Capital Employed |
|
|
|
|
| Steel business |
9,415.05 |
8,047.98 |
9,415.05 |
8,047.98 |
| Ferro Alloys & Minerals |
200.80 |
154.65 |
200.80 |
154.65 |
| Others |
167.52 |
135.21 |
167.52 |
135.21 |
| Total |
9,783.37 |
8,337.84 |
9,783.37 |
8,337.84 |
2. In accordance with the provisions of Accounting Standard AS-28,
introduced with effect from 1st April 2004, the company has, on that date, made an
adjustment of Rs. 97.48 crores against the opening balance of the general reserve on
account of impairment of assets.
3. The Company has, on 12th August 2004, issued Bonus Shares in the
ratio 1:2. The Earnings per Share (EPS) for the previous periods under column (3) and (5)
have been recomputed in accordance with the Accounting Standard AS-20.
4. G Blast furnace was shutdown for upgradation on December 3, 2004.
The upgraded furnace was recommissioned on April 6, 2005.
5. The Company and West Bengal Industrial Development Corporation
(WBIDC) have signed the joint venture agreement and formed a joint venture company Hooghly
Met Coke & Power Co Ltd (HMCPCL) to set up a Coke Oven Plant at Haldia.
6. The Company, on February 15, 2005, has acquired 100% equity of
Natsteel Asia Pte Ltd, Singapore which has steel assets in Singapore, Thailand, Vietnam,
Philippines, Australia and China.
7. Information on investor complaints pursuant to clause 41 of the
listing agreement for the quarter ended 31.03.2005.
| Opening balance |
Received during the quarter |
Resolved during the quarter |
Closing balance |
| 3 |
361 |
358 |
6 |
8. Figures for the previous periods have been
regrouped and reclassified to conform to the classification of the current period,
wherever necessary.
9. The Board of Directors has approved the change of name of the
Company to “Tata Steel Limited” subject to the approvals of the Registrar of
Companies, Maharashtra, Mumbai and the shareholders.
10. The above results have been taken on record by the Board of
Directors of the Company in its meeting of date.
11. The Board of Directors has recommended a dividend of 130 % for
the financial year 2004-05.
12. The Annual General Meeting of the Company will be held on 27th
July, 2005 to consider the Accounts for financial year 2004-05.
THE TATA IRON & STEEL COMPANY LIMITED
| Mumbai, 19th May, 2005 |
Sd/- Ratan N. Tata
Chairman |
THE TATA IRON AND STEEL COMPANY
LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Consolidated Financial Results for the Year Ended on 31st March, 2005
| |
|
|
Financial Year
ended on 31.03.2005 |
Previous Financial Year
ended on
31.03.2004 |
| 1 |
Sales/Income from Operations |
Rs. Crores |
17,414.52 |
12,372.53 |
| |
Less: Excise Duty |
" |
1,415.91 |
1,243.09 |
| |
Net Sales/Income from Operations |
" |
15,998.61 |
11,129.44 |
| 2 |
Total Expenditure |
|
|
|
| |
a) (Increase) /decrease in stock in trade |
" |
(282.75) |
(123.99) |
| |
b) Purchase of finished, semi-finished steel and other products |
" |
2,226.63 |
941.71 |
| |
c) Raw materials consumed |
" |
1,938.20 |
1,641.60 |
| |
d) Staff Cost |
" |
1,414.42 |
1,401.78 |
| |
e) Purchase of Power |
" |
731.70 |
674.20 |
| |
f) Freight and handling |
" |
992.20 |
752.09 |
| |
g) Other Expenditure |
" |
2,776.94 |
2,289.62 |
| |
h) Total Expenditure ( 2a to 2g) |
" |
9,797.34 |
7,577.01 |
| 3 |
Operating Profit |
" |
6,201.27 |
3,552.43 |
| 4 |
Other Income |
" |
182.44 |
142.70 |
| 5 |
Interest (net) |
" |
198.13 |
129.30 |
| 6 |
Depreciation |
" |
645.46 |
640.55 |
| 7 |
Profit before Tax and Exceptional Items (3+4-5-6) |
" |
5,540.12 |
2,925.28 |
| 8 |
Exceptional Items |
|
|
|
| |
a) Employee Separation Compensation |
" |
(120.57) |
(233.90) |
| |
b) Profit /(loss) on divestments |
" |
23.69 |
8.15 |
| |
c) Liability written back |
" |
- |
17.30 |
| |
d) Provision for contingencies |
" |
(0.80) |
(1.96) |
| |
e) Total of Exceptional items( 8a to 8d) |
" |
(97.68) |
(210.41) |
| 9 |
Profit before Tax ( 7-8e) |
" |
5,442.44 |
2,714.87 |
| 10 |
Provision for Current Taxation |
" |
1,875.09 |
937.17 |
| 11 |
Provision for Deferred Taxation |
" |
(3.85) |
(0.92) |
| 12 |
Net Profit (+) / Loss (-) (9-10-11) |
" |
3,571.20 |
1,778.62 |
| 13 |
Share of income in Associates |
" |
58.02 |
29.44 |
| 14 |
Minority Interest in consolidated Profit/(Loss) |
" |
25.96 |
19.28 |
| 15 |
Profits after Minority Interest and share of Profits of Associates ( 12 + 13 -14) |
" |
3,603.26 |
1,788.78 |
| 16 |
Paid-up Equity Share Capital ( Face Value : Rs 10 per Share ) |
" |
552.27 |
368.24 |
| 17 |
Reserves excluding revaluation reserves |
" |
|
4,288.44 |
| 18 |
Basic and Diluted Earnings per Share ( after exceptional items) |
Rupees |
65.27 |
28.00 |
Notes on Consolidated Financial Results for the year ended
31st March 2005:
The following Subsidiaries, Associates and Joint Ventures have been
considered for the purpose of preparing Consolidated Financial Statements as per
Accounting Standards on
a) Consolidated Financial Statements (AS-21)
b) Accounting for Investments in Associates in Consolidated Financial
Statements (AS-23)
c) Financial Reporting of interests in Joint Ventures (AS-27)
| Name of the Company |
Ownership in % either directly or through
Subsidiaries |
Country of incorporation |
| Subsidiaries: |
| 1) Best Bar (VIC) Pte. Limited |
71.00 |
Australia |
| 2) Best Bar Pty. Limited |
71.00 |
Australia |
| 3) Burwill Trading Pte. Limited |
100.00 |
Singapore |
| 4) Eastel Construction Services Pte. Limited |
100.00 |
Singapore |
| 5) Eastel Services (M) Sdn Bhd |
100.00 |
Malaysia |
| 6) Eastern Steel Fabricators Philippines Inc. |
67.00 |
Philippines |
| 7) Eastern Steel Services Pte. Limited |
100.00 |
Singapore |
| 8) Eastern Wire Pte. Limited |
100.00 |
Singapore |
| 9) EW Reinforcement Pty. Limited |
100.00 |
Australia |
| 10) Hooghly Met Coke & Power Limited |
97.99 |
India |
| 11) International Shipping Logistics FZE |
100.00 |
Dubai |
| 12) Jamshedpur Utilities and Services Company Limited |
99.98 |
India |
| 13) Kalimati Investment Company Limited |
100.00 |
India |
| 14) Lanka Special Steels Limited |
100.00 |
Sri Lanka |
| 15) Materials Recycling Pte. Limited |
100.00 |
Singapore |
| 16) NatFerrous Pte. Limited |
100.00 |
Singapore |
| 17) NatSteel Asia (S) Pte. Limited |
100.00 |
Singapore |
| 18) NatSteel Asia Pte. Limited |
100.00 |
Singapore |
| 19) NatSteel Equity IV Pte. Limited |
100.00 |
Singapore |
| 20) NatSteel Trade International (Shanghai) Co.Limited |
60.00 |
China |
| 21) NatSteel Trade International Pte. Limited |
60.00 |
Singapore |
| 22) PT Materials Recycling Indonesia |
100.00 |
Indonesia |
| 23) Siam Industrial Wire Company Limited |
100.00 |
Thailand |
| 24) Sila Eastern Limited |
49.00 |
Thailand |
| 25) Tata Incorporated |
100.00 |
USA |
| 26) Tata Korf Engineering Services Limited |
99.99 |
India |
| 27) Tata Refractories Limited |
61.48 |
India |
| 28) The Indian Steel & Wire Products Limited |
91.36 |
India |
| 29) The Tata Pigments Limited |
100.00 |
India |
| 30) TKM Transport Management Services Limited |
100.00 |
India |
| 31) TM International Logistics Limited |
51.00 |
India |
| 32) Wuxi Jinyang Metal Products Co. Limited |
65.00 |
China |
| Associates: |
| 1) Almora Magnesite Limited |
39.00 |
India |
| 2) Jamshedpur Injection Powder Limited |
30.00 |
India |
| 3) NatSteel Vina Co. Limited |
33.90 |
Vietnam |
| 4) Rujuvalika Investments Limited |
24.12 |
India |
| 5) Southern NatSteel (Xiamen) Limited |
40.68 |
China |
| 6) Southern Steel Berhad |
27.05 |
Malaysia |
| 7) Steel Asia Development and Management Corporation |
40.00 |
Philippines |
| 8) Steel Asia Industries Inc. |
50.00 |
Philippines |
| 9) Steel Asia Manufacturing Corporation |
40.00 |
Philippines |
| 10) Tata Sponge Iron Limited |
39.74 |
India |
| 11) Tata Metaliks Limited |
47.65 |
India |
| 12) TAYO Rolls Limited |
36.53 |
India |
| 13) Tinplate Company of India Limited |
31.89 |
India |
| 14) TKM Overseas Limited |
49.00 |
UK |
| 15) TRF Limited |
36.32 |
India |
| Joint Ventures: |
| 1) Metaljunction Services Limited |
50.00 |
India |
| 2) Tata Ryerson Limited |
50.00 |
India |
The Consolidated Financial results have been taken on record by the Board of
Directors of the Company in its meeting of date.
| Mumbai, 19th May, 2005 |
Sd/- Ratan N. Tata
Chairman |
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