::: Half Yearly Results :::
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Quarterly Results Archives ]
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Click here to download the PDF format
of the Analyst Meet Presentation for the Half Yearly Results Sept'04 |
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the Analyst Meet |
Unaudited Financial Results for the Quarter/Six
months
Ended on 30th September 2004
| |
|
|
Quarter ended on 30.09.2004 |
Corresponding quarter ended on 30.09.2003
in the Previous Year |
Six Months ended on 30.09.2004 |
Corresponding Six Months ended on
30.09.2003 in the Previous Year |
Previous Financial Year ended on 31.03.2004 (Audited) |
| |
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
| (A) |
|
|
|
|
|
|
|
| 1 |
Steel Production |
Tonnes |
1,085,837 |
1,030,317 |
2,078,998 |
1,994,931 |
4,055,101 |
| 2 |
Steel Sales |
" |
1,022,845 |
1,044,658 |
1,905,595 |
1,924,567 |
3,958,439 |
| 3 |
Export turnover ( F.O.B Value) |
Rs. Crores |
596.81 |
336.13 |
1,020.26 |
698.51 |
1,496.56 |
| US $ Mill . |
130.32 |
73.56 |
222.85 |
151.25 |
327.72 |
| (B) |
|
|
|
|
|
|
|
| 1 |
Sales/Income from Operations |
Rs. Crores |
4,107.31 |
2,940.98 |
7,513.24 |
5,463.91 |
11,920.96 |
| |
Less: Excise Duty |
" |
368.99 |
327.99 |
610.27 |
593.82 |
1,218.57 |
| |
Net Sales/Income from Operations |
" |
3,738.32 |
2,612.99 |
6902.97 |
4,870.09 |
10,702.39 |
| 2 |
Total Expenditure |
|
|
|
|
|
|
| |
a) (Increase) /decrease in stock in trade |
" |
(49.95) |
43.26 |
(286.90) |
(82.33) |
(64.46) |
| |
b)
Purchases of finished, semi-finished steel and other products |
" |
282.46 |
171.91 |
569.91 |
335.46 |
767.13 |
| |
c) Raw materials consumed |
" |
442.98 |
306.09 |
861.06 |
690.34 |
1,462.44 |
| |
d) Staff Cost |
" |
347.49 |
406.98 |
665.13 |
716.82 |
1,349.59 |
| |
e) Purchase of Power |
" |
178.70 |
171.94 |
356.52 |
345.52 |
667.53 |
| |
f) Freight and handling |
" |
226.41 |
197.27 |
424.98 |
371.72 |
748.44 |
| |
g) Other Expenditure |
" |
681.31 |
559.12 |
1,281.38 |
1,061.04 |
2,276.31 |
| |
h) Total Expenditure ( 2a to
2g) |
" |
2,109.40 |
1,856.57 |
3,872.08 |
3,438.57 |
7,206.98 |
| 3 |
Operating Profit |
" |
1,628.92 |
756.42 |
3,030.89 |
1,431.52 |
3,495.41 |
| 4 |
Other Income |
" |
57.04 |
56.35 |
84.49 |
74.43 |
140.51 |
| 5 |
Interest ( net) |
" |
47.48 |
57.02 |
96.43 |
133.48 |
122.17 |
| 6 |
Depreciation |
" |
159.48 |
147.03 |
317.04 |
291.62 |
625.11 |
| 7 |
Profit before
Tax and Exceptional Items (3+4-5-6) |
" |
1,479.00 |
608.72 |
2,701.91 |
1080.85 |
2,888.64 |
| 8 |
Exceptional Items |
|
|
|
|
|
|
| |
a) Employee Separation
Compensation |
" |
(25.76) |
(1.62) |
(50.05) |
(72.72) |
(230.83) |
| |
b) Profit on sale of long
term investments |
" |
- |
- |
- |
0.06 |
8.15 |
| |
c) Total of Exceptional
items ( 8a + 8b) |
" |
(25.76) |
(1.62) |
(50.05) |
(72.66) |
(222.68) |
| 9 |
Profit before Tax ( 7-8c) |
" |
1,453.24 |
607.10 |
2,651.86 |
1008.19 |
2,665.96 |
| 10 |
Provision for Current Taxation |
" |
515.18 |
225.06 |
956.00 |
388.63 |
920.00 |
| 11 |
Provision for Deferred Taxation |
" |
8.47 |
(21.06) |
20.78 |
(50.61) |
(0.26) |
| 12 |
Net Profit (+) /
Loss (-) (9-10-11) |
" |
929.59 |
403.10 |
1675.08 |
670.17 |
1,746.22 |
| 13 |
Paid-up Equity Share Capital (
Face Value : Rs 10 per Share ) |
" |
553.67 |
369.18 |
553.67 |
369.18 |
369.18 |
| 14 |
Reserves excluding revaluation reserves |
" |
|
|
|
|
4,146.68 |
| 15 |
Basic and Diluted Earnings per Share (not annualised)
(after Exceptional items) |
Rupees |
16.80 |
7.28 |
30.26 |
12.11 |
31.55 |
| 16 |
Aggregate
of Non-promoter Shareholding |
|
|
|
|
|
|
| |
Number
of shares |
Nos. |
407,900,165 |
271,951,267 |
407,900,165 |
271,951,267 |
271,966,962 |
| |
% of shareholding |
% |
73.70% |
73.70% |
73.70% |
73.70% |
73.71% |
NOTES:
1.Segment Revenue, Results and Capital Employed
| (Rs. Crores) |
| Particulars |
Quarter ended on 30.09.2004 |
Corresponding quarter ended on 30.09.2003
in the Previous Year |
Six months ended on 30.09.2004 |
Corresponding Six months ended on
30.09.2003 in the Previous Year |
Previous Financial Year ended on 31.03.2004
(Audited) |
| Revenue by Business Segment |
|
|
|
|
|
| Steel business |
3324.82 |
2395.58 |
6225.20 |
4469.17 |
9875.81 |
| Ferro Alloys and Minerals |
388.55 |
173.16 |
693.58 |
330.60 |
730.17 |
| Others |
223.67 |
172.16 |
390.34 |
312.86 |
692.99 |
| Total |
3937.04 |
2740.90 |
7309.12 |
5112.63 |
11298.97 |
| Less: Inter segment revenue |
198.72 |
127.91 |
406.15 |
242.54 |
596.58 |
| Net sales/ income from operations |
3738.32 |
2612.99 |
6902.97 |
4870.09 |
10702.39 |
| Segment results before Interest, Exceptional items and
Tax |
|
|
|
|
|
| Steel business |
1300.29 |
605.32 |
2399.06 |
1111.79 |
2775.83 |
| Ferro Alloys and Minerals |
171.92 |
44.03 |
328.96 |
78.16 |
170.38 |
| Others |
10.40 |
(4.63) |
19.65 |
2.78 |
24.35 |
| Total |
1482.61 |
644.72 |
2747.67 |
1192.73 |
2970.56 |
| Less: |
|
|
|
|
|
| Interest |
47.48 |
57.02 |
96.43 |
133.48 |
122.17 |
| Other
unallocable (income)/expenditure |
(43.87) |
(21.02) |
(50.67) |
(21.60) |
(40.25) |
| Profit before Tax and Exceptional items |
1479.00 |
608.72 |
2701.91 |
1080.85 |
2888.64 |
| Exceptional items : |
|
|
|
|
|
| Employee Separation Compensation |
(25.76) |
(1.62) |
(50.05) |
(72.72) |
(230.83) |
| Profit on Sale of Long Term Investments |
- |
- |
- |
0.06 |
8.15 |
| Profit before Tax |
1453.24 |
607.10 |
2651.86 |
1008.19 |
2665.96 |
| Less: Taxes |
523.65 |
204.00 |
976.78 |
338.02 |
919.74 |
| Profit after Tax |
929.59 |
403.10 |
1675.08 |
670.17 |
1746.22 |
| Segment Capital Employed |
|
|
|
|
|
| Steel business |
8744.05 |
7852.98 |
8744.05 |
7852.98 |
8047.98 |
| Ferro Alloys and Minerals |
214.12 |
176.20 |
214.12 |
176.20 |
154.65 |
| Others |
167.95 |
193.43 |
167.95 |
193.43 |
135.21 |
| Total |
9126.12 |
8222.61 |
9126.12 |
8222.61 |
8337.84 |
2.The Company has, on 16th August 2004, signed Definitive Agreements with NatSteel
Limited, Singapore to invest in all of NatSteel’s steel business for cash. NatSteel
will spin off its entire steel business into a wholly owned subsidiary, NatSteel Asia Pte
Ltd subsequent to which Tata Steel will acquire 100% of equity interest in that company.
The enterprise value of the acquisition is approximately Rs. 1,313 crores subject to
certain adjustments including those of any net debt, minority interest, other liabilities
and for changes in working capital.
3.The Company reinstated its policy of amortisation of employee separation benefits in
the last quarter of 2003-04 in view of the revision of Accounting Standard AS-26 in March
2004 to exclude employee termination benefits from the scope of the standard. Had the
changes been implemented in the first half of 2003-04, the profit before tax for that half
and the second quarter would have been higher by Rs. 49.70 crores and Rs. 0.42 crores
respectively. Corresponding figures for Employee Separation Compensation for the previous
periods under column (2) and (4) of item 8(a) have not been recast.
4.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 (2), (4) and (5) have been
recomputed in accordance with the Accounting Standard AS-20.
5.As part of the 1MTPA expansion programme, certain facilities including G Blast
Furnace at Jamshedpur steel works will be shut down for periods upto 100 days from
December 2004.
6.Information on investor complaints pursuant to clause 41 of the listing agreement for
the quarter ended 30.9.2004.
| |
Opening balance
|
Received during the quarter |
Resolved during the quarter
|
Closing balance
|
| Investor complaints |
20 |
22 |
38 |
4 |
| Complaints pertaining to receipt of dividend warrants |
- |
276 |
99 |
177 |
| Total |
20 |
298 |
137 |
181 |
7.Figures for the previous periods have been regrouped and reclassified to
conform to the classification of the current period, wherever necessary.
8.The financial results stated in (B) above have been subjected to Limited Review by
the Statutory Auditors of the company.
9.The above results have been
taken on record in the Board meeting of date.
THE TATA IRON & STEEL COMPANY LIMITED
| Mumbai, 29th October, 2004 |
Sd/- Ratan N. Tata
Chairman |
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