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::: 1st Quarter Results :::
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THE TATA IRON AND
STEEL COMPANY LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Financial Results for the Quarter ended
on 30th June, 2005
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Quarter ended
on 30.06.2005
(Audited) |
Corresponding quarter
ended on 30.06.2004
in the Previous Year
(Unaudited) |
Previous Financial Year
ended on
31.03.2005 (Audited) |
| |
|
|
(1) |
(2) |
(3) |
| (A) |
1. |
Steel Production |
Tonnes |
945,633 |
993,461 |
4,074,279 |
2. |
Steel Sales |
" |
854,238 |
883,130 |
3,913,372 |
| 3. |
Export turnover (F.O.B Value) |
Rs. Crores |
408.11 |
392.13 |
2,183.79 |
| US $ Mill. |
93.27 |
86.91 |
486.38 |
| (B) |
1. |
Sales/Income from Operations |
Rs. Crores |
3,961.45 |
3,405.93 |
15,876.87 |
| |
Less: Excise Duty |
" |
496.93 |
241.28 |
1,377.92 |
| |
Net Sales/Income from Operations |
" |
3,464.52 |
3,164.65 |
14,498.95 |
2. |
Total Expenditure |
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|
|
|
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a) (Increase)/decrease in stock in trade |
" |
(222.07) |
(226.96) |
(289.55) |
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b) Purchases of finished, semi-finished steel and other
products |
" |
211.52 |
287.45 |
1,305.28 |
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c) Raw materials consumed |
" |
486.35 |
408.09 |
1,715.14 |
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d) Staff Cost |
" |
303.27 |
317.64 |
1,291.00 |
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e) Purchase of Power |
" |
197.37 |
177.82 |
712.00 |
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f) Freight and Handling |
" |
222.86 |
198.57 |
936.68 |
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g) Other Expenditure |
" |
677.01 |
600.07 |
2,783.04 |
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h) Total Expenditure (2a to 2g) |
" |
1,876.31 |
1,762.68 |
8,453.59 |
3. |
Operating Profit |
" |
1,588.21 |
1,401.97 |
6,045.36 |
4. |
Other Income |
" |
30.33 |
27.45 |
148.03 |
5. |
Interest (net) |
" |
34.15 |
48.95 |
186.80 |
| 6. |
Depreciation |
" |
170.64 |
157.56 |
618.78 |
7. |
Profit before Tax and Exceptional Items
(3+4-5-6) |
" |
1,413.75 |
1,222.91 |
5,387.81 |
| 8. |
Exceptional Items |
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a) Employee Separation Compensation |
" |
(29.57) |
(24.29) |
(119.11) |
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b) Profit on sale of long term investments |
" |
- |
- |
28.58 |
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c) Total of Exceptional items (8a + 8b) |
" |
(29.57) |
(24.29) |
(90.53) |
9. |
Profit before Tax (7-8c) |
" |
1,384.18 |
1,198.62 |
5,297.28 |
10. |
Provision for Current Taxation |
" |
454.63 |
440.82 |
1,833.66 |
| 11. |
Provision for Deferred Taxation |
" |
1.53 |
12.31 |
(10.54) |
| 12. |
Provision for Fringe Benefits Tax |
" |
3.91 |
- |
- |
13. |
Net Profit (+)/Loss (-)
(9-10-11-12) |
" |
924.11 |
745.49 |
3,474.16 |
14. |
Paid-up Equity Share Capital
(Face Value: Rs.10 per Share) |
" |
553.67 |
369.18 |
553.67 |
15. |
Reserves excluding revaluation reserves |
" |
|
|
6,506.25 |
| 16. |
Basic and Diluted Earnings per Share (not annualised)
(after Exceptional items) |
Rupees |
16.70 |
13.47 |
62.77 |
| 17. |
Aggregate of Non-promoter Shareholding
Number of shares
% of shareholding |
Nos.
% |
406,406,440
73.43% |
272,063,442
73.73% |
406,463,440
73.44% |
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| NOTES: |
| 1. |
Segment Revenue, Results and Capital
Employed |
|
| (Rs. Crores) |
| Particulars |
Quarter ended
on 30.06.2005
(Audited) |
Corresponding quarter
ended on 30.06.2004 in the Previous Year
(Unaudited) |
Previous Financial
Year ended on 31.03.2005
(Audited) |
| Revenue by Business Segment |
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| Steel business |
3,031.52 |
2,900.38 |
12,992.49 |
| Ferro Alloys and Minerals |
375.13 |
305.03 |
1,449.64 |
| Others |
222.29 |
166.67 |
888.27 |
| Total |
3,628.94 |
3,372.08 |
15,330.40 |
| Less: Inter segment revenue |
164.42 |
207.43 |
831.45 |
| Net sales/income from operations |
3,464.52 |
3,164.65 |
14,498.95 |
| Segment results before interest, exceptional items
and tax: |
|
|
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| Steel business |
1,226.20 |
1,098.77 |
4,764.60 |
| Ferro Alloys and Minerals |
189.00 |
157.04 |
700.89 |
| Others |
17.89 |
9.25 |
38.84 |
| Total |
1,433.09 |
1,265.06 |
5,504.33 |
| Less: |
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| Interest |
34.15 |
48.95 |
186.80 |
| Other unallocable (income)/expenditure |
(14.81) |
(6.80) |
(70.28) |
| Profit before Tax and Exceptional items |
1,413.75 |
1,222.91 |
5,387.81 |
| Exceptional items |
|
|
|
| Employee Separation Compensation |
(29.57) |
(24.29) |
(119.11) |
| Profit on Sale of Long Term Investments |
- |
- |
28.58 |
| Profit before Tax |
1,384.18 |
1,198.62 |
5,297.28 |
| Less: Taxes |
460.07 |
453.13 |
1823.12 |
| Profit after Tax |
924.11 |
745.49 |
3,474.16 |
| Segment Capital Employed |
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|
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| Steel business |
9,458.22 |
8,145.96 |
9,415.05 |
| Ferro Alloys and Minerals |
208.61 |
155.05 |
200.80 |
| Others |
164.66 |
165.14 |
167.52 |
| Total |
9,831.49 |
8,466.15 |
9,783.37 |
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| 2. |
Information on investor complaints pursuant to
clause 41 of the listing agreement for the quarter ended 30.06.2005: |
|
| Opening balance |
Received during the quarter |
Resolved during the quarter |
Closing balance |
| 6 |
32 |
32 |
6 |
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| 3. |
Consequent to an investment of Rs.33.31
crores, on 6th May 2005, The Dhamra Port Company Limited has become a 50:50 joint venture
between the Company and Larsen & Toubro Limited. |
| 4. |
The Company has, on 4th June 2005, signed a
Memorandum of Understanding (MoU) with the Government of Chhattisgarh for setting up a five
million tonne integrated steel plant in the Bastar region of Chhattisgarh. |
| 5. |
The Company has, on 12th June 2005, signed a
joint venture agreement with Iranian Mines and Mining Industries Development and
Renovation Organisation (IMIDRO) to join them in establishing a 1.5 million tonne steel
slab making facility, a 1.5 million tonne billet making facility, a separate three million
tonne export oriented steel plant and in exploration and mining of unexplored iron ore
mines in Iran. |
| 6. |
The Company has, on 18th July 2005 signed an
agreement with AMCI Australia Pty Ltd. to buy 5% interest in the Carborough Downs Coal
Project located in Queensland, Australia. |
| 7. |
The Company had, on 12th August 2004, issued
Bonus Shares in the ratio of 1:2. The Earnings per Share (EPS) for the previous period has
been recomputed in accordance with the Accounting Standard AS-20. |
| 8. |
Figures for the previous period have been
regrouped and reclassified to conform to the classification of the current period,
wherever necessary. |
| 9. |
The above results have been taken on record
in the Board meeting of date. |
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THE TATA IRON &
STEEL COMPANY LIMITED |
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| Mumbai, 27th July, 2005 |
Sd/- Ratan N. Tata
Chairman |
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THE
TATA IRON AND STEEL COMPANY LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Consolidated Financial Results for the Quarter ended
on 30th June, 2005
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|
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Quarter ended
on 30.06.2005
(Audited) |
Corresponding quarter
ended on 30.06.2004
in the Previous Year
(Unaudited) |
Previous Financial Year
ended on
31.03.2005 (Audited) |
1. |
Sales/Income from Operations |
Rs. Crores |
5,265.31 |
3,616.44 |
17,414.52 |
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Less: Excise Duty |
" |
505.99 |
248.24 |
1,415.91 |
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Net Sales/Income from Operations |
" |
4,759.32 |
3,368.20 |
15,998.61 |
2. |
Total Expenditure |
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a) (Increase)/decrease in stock in trade |
" |
(297.28) |
(254.48) |
(282.75) |
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b) Purchases of finished, semi-finished steel and other
products |
" |
1,220.33 |
435.25 |
2,226.63 |
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c) Raw materials consumed |
" |
541.13 |
441.58 |
1,938.20 |
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d) Staff Cost |
" |
377.55 |
341.35 |
1,414.42 |
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e) Purchase of Power |
" |
229.81 |
181.30 |
731.70 |
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f) Freight and Handling |
" |
265.45 |
211.28 |
992.20 |
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g) Other Expenditure |
" |
730.39 |
581.07 |
2,776.94 |
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h) Total Expenditure (2a to 2g) |
" |
3,067.38 |
1,937.35 |
9,797.34 |
3. |
Operating Profit |
" |
1,691.94 |
1,430.85 |
6,201.27 |
4. |
Other Income |
" |
31.17 |
27.81 |
182.44 |
5. |
Interest (net) |
" |
42.52 |
51.26 |
198.13 |
| 6. |
Depreciation |
" |
189.29 |
162.21 |
645.46 |
7. |
Profit before Tax and Exceptional Items
(3+4-5-6) |
" |
1,491.30 |
1,245.19 |
5,540.12 |
| 8. |
Exceptional Items |
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a) Employee Separation Compensation |
" |
(30.39) |
(24.99) |
(120.57) |
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b) Profit/(Loss) on divestments |
" |
- |
- |
23.69 |
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c) Provision for contingencies |
" |
- |
- |
(0.80) |
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d) Total of Exceptional items (8a to 8c) |
" |
(30.39) |
(24.99) |
(97.68) |
9. |
Profit before Tax (7-8d) |
" |
1,460.91 |
1,220.20 |
5,442.44 |
10. |
Provision for Current Taxation |
" |
468.57 |
446.01 |
1,875.09 |
| 11. |
Provision for Deferred Taxation |
" |
1.75 |
13.29 |
(3.85) |
| 12. |
Provision for Fringe Benefits Tax |
" |
4.33 |
- |
- |
13. |
Net Profit (+)/Loss (-)
(9-10-11-12) |
" |
986.26 |
760.90 |
3,571.20 |
| 14. |
Add-Share of income in Associates |
" |
7.60 |
17.62 |
58.02 |
15. |
Less-Minority Interest in consolidated Profit/(Loss) |
" |
8.54 |
3.67 |
25.96 |
16. |
Profits after Minority Interest and share of Profits of
Associates (13+14-15) |
" |
985.32 |
774.85 |
3,603.26 |
| 17. |
Paid-up Equity Share Capital
(Face Value: Rs 10 per Share) |
" |
552.27 |
368.24 |
552.27 |
| 18. |
Reserves excluding revaluation reserves |
" |
|
|
6,782.79 |
| 19. |
Basic and Diluted Earnings per Share (not annualised)
(after exceptional items) |
Rupees |
17.85 |
14.04 |
65.27 |
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| NOTES: |
| 1. |
Segment Revenue, Results and Capital
Employed |
|
| (Rs. Crores) |
| Particulars |
Quarter ended
on 30.06.2005
(Audited) |
Corresponding quarter
ended on 30.06.2004 in the Previous Year
(Unaudited) |
Previous Financial
Year ended on 31.03.2005
(Audited) |
| Revenue by Business Segment |
|
|
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| Steel business |
4,250.04 |
2,972.44 |
13,919.26 |
| Ferro Alloys and Minerals |
375.13 |
305.03 |
1,449.64 |
| Others |
468.32 |
411.93 |
2,081.18 |
| Total |
5,093.49 |
3,689.40 |
17,450.08 |
| Less: Inter segment revenue |
334.17 |
321.20 |
1,451.47 |
| Net sales/income from operations |
4,759.32 |
3,368.20 |
15,998.61 |
| Segment results before interest, exceptional items
and tax: |
|
|
|
| Steel business |
1,278.52 |
1,102.57 |
4,802.84 |
| Ferro Alloys and Minerals |
189.00 |
157.04 |
700.89 |
| Others |
43.61 |
30.00 |
194.90 |
| Total |
1,511.13 |
1,289.61 |
5,698.63 |
| Less: |
|
|
|
| Interest |
42.52 |
51.26 |
198.13 |
| Other unallocable (income)/expenditure |
(15.15) |
(7.14) |
(72.27) |
| Inter segment eliminations |
(7.54) |
0.30 |
32.65 |
| Profit before Tax and Exceptional items |
1,491.30 |
1,245.19 |
5,540.12 |
| Exceptional items: |
|
|
|
| Employee Separation Compensation |
(30.39) |
(24.99) |
(120.57) |
| Provision for Contingencies |
- |
- |
(0.80) |
| Profit on Sale of Long Term Investments |
- |
- |
23.69 |
| Profit before Tax |
1,460.91 |
1,220.20 |
5,442.44 |
| Less: Taxes |
474.65 |
459.30 |
1,871.24 |
| Profit after Tax |
986.26 |
760.90 |
3,571.20 |
| Segment Capital Employed |
|
|
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| Steel business |
10,717.68 |
8,235.05 |
10.656.36 |
| Ferro Alloys and Minerals |
208.61 |
155.05 |
200.80 |
| Others |
711.41 |
581.68 |
672.63 |
| Total |
11,637.70 |
8,971.78 |
11,529.79 |
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| 2. |
The Consolidated Financial Statements have been
prepared as per the following Accounting Standards:
| 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) |
|
| 3. |
The Company had, on 12th August 2004, issued
Bonus Shares in the ratio of 1:2. The Earnings per Share (EPS) for the previous period has
been recomputed in accordance with the Accounting Standard AS-20. |
| 4. |
The Consolidated Financial results have been
taken on record by the Board of Directors of the Company in its meeting of date. |
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THE TATA IRON &
STEEL COMPANY LIMITED |
|
| Mumbai, 27th July, 2005 |
Sd/- Ratan N. Tata
Chairman |
|
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