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the PDF format of the Audited Financial Results for the Quarter / Six months ended
on 30th September, 2005 |
|
TATA STEEL LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Financial Results for the Quarter/Six months Ended on
30th September 2005
| |
|
|
Quarter ended on 30.09.2005
(Audited) |
Corresponding quarter ended on 30.09.2004
in the Previous Year
(Unaudited) |
Six Months ended on 30.09.2005
(Audited) |
Corresponding Six Months ended on
30.09.2004 in the Previous Year
(Audited) |
Previous Financial Year ended on 31.03.2005 (Audited) |
| |
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
| (A) |
|
|
|
|
|
|
|
| 1 |
Steel Production |
Tonnes |
1,208,689 |
1,062,358 |
2,157,615 |
2,082,409 |
4,109,002 |
| 2 |
Steel Sales |
" |
1,179,605 |
1,020,803 |
2,055,102 |
1,933,909 |
3,935,304 |
| 3 |
Export turnover (F.O.B Value) |
Rs. Crores |
626.31 |
632.80 |
1,034.42 |
1,024.93 |
2,183.79 |
| US $ Mill . |
143.49 |
136.96 |
236.76 |
223.87 |
486.38 |
| (B) |
|
|
|
|
|
|
|
| 1 |
Sales/Income from Operations |
Rs. Crores |
4,395.08 |
4,107.35 |
8,356.53 |
7,513.28 |
15,876.87 |
| |
Less: Excise Duty |
" |
529.98 |
368.99 |
1,026.91 |
610.27 |
1,377.92 |
| |
Net Sales/Income from Operations |
" |
3,865.10 |
3,738.36 |
7,329.62 |
6,903.01 |
14,498.95 |
| 2 |
Total Expenditure |
|
|
|
|
|
|
| |
a) (Increase) /decrease in stock in trade |
" |
55.56 |
(51.04) |
(166.51) |
(278.00) |
(289.55) |
| |
b)
Purchase of finished, semi-finished steel and other products |
" |
143.59 |
282.46 |
355.11 |
569.91 |
1,305.28 |
| |
c) Raw materials consumed |
" |
514.91 |
430.92 |
1,001.26 |
839.01 |
1,715.14 |
| |
d) Staff Cost |
" |
341.18 |
347.49 |
644.45 |
665.13 |
1,291.00 |
| |
e) Purchase of Power |
" |
190.43 |
178.70 |
387.80 |
356.52 |
712.00 |
| |
f) Freight and handling |
" |
238.74 |
238.07 |
461.60 |
436.64 |
936.68 |
| |
g) Other Expenditure |
" |
729.09 |
682.85 |
1,406.10 |
1,282.92 |
2,783.04 |
| |
h) Total Expenditure ( 2a to
2g) |
" |
2,213.50 |
2,109.45 |
4,089.81 |
3,872.13 |
8,453.59 |
| 3 |
Operating Profit |
" |
1,651.60 |
1,628.91 |
3,239.81 |
3,030.88 |
6,045.36 |
| 4 |
Other Income |
" |
118.79 |
57.04 |
149.12 |
84.49 |
148.03 |
| 5 |
Interest (net) |
" |
30.71 |
47.48 |
64.86 |
96.43 |
186.80 |
| 6 |
Depreciation |
" |
175.51 |
159.48 |
346.15 |
317.04 |
618.78 |
| 7 |
Profit before
Tax and Exceptional Items (3+4-5-6) |
" |
1,564.17 |
1,478.99 |
2,977.92 |
2,701.90 |
5,387.81 |
| 8 |
Exceptional Items |
|
|
|
|
|
|
| |
a) Employee Separation
Compensation |
" |
(28.99) |
(25.76) |
(58.56) |
(50.05) |
(119.11) |
| |
b) Profit on sale of long
term investments |
" |
- |
- |
- |
- |
28.58 |
| |
c) Total of Exceptional
items (8a +8b) |
" |
(28.99) |
(25.76) |
(58.56) |
(50.05) |
(90.53) |
| 9 |
Profit before Tax (7-8c) |
" |
1,535.18 |
1,453.23 |
2,919.36 |
2,651.85 |
5,297.28 |
| 10 |
Provision for Current Taxation |
" |
475.37 |
515.18 |
930.00 |
956.00 |
1,833.66 |
| 11 |
Provision for Deferred Taxation |
" |
8.34 |
8.47 |
9.87 |
20.78 |
(10.54) |
| 12 |
Provision for Fringe
Benefits Tax |
" |
6.05 |
- |
9.96 |
- |
- |
| 13 |
Net Profit (+) /
Loss (-) (9-10-11-12) |
" |
1,045.42 |
929.58 |
1,969.53 |
1,675.07 |
3,474.16 |
| 14 |
Paid-up Equity Share Capital (Face
Value : Rs 10 per Share) |
" |
553.67 |
553.67 |
553.67 |
553.67 |
553.67 |
| 15 |
Reserves excluding revaluation reserves |
" |
|
|
|
|
6,506.25 |
| 16 |
Basic and Diluted Earnings per Share (not annualised)
(after Exceptional items) |
Rupees |
18.89 |
16.80 |
35.58 |
30.26 |
62.77 |
| 17 |
Aggregate
of Non-promoter Shareholding |
|
|
|
|
|
|
| |
Number
of shares |
Nos. |
406,410,640 |
407,900,165 |
406,410,640 |
407,900,165 |
406,463,440 |
| |
% of shareholding |
% |
73.43% |
73.70% |
73.43% |
73.70% |
73.44% |
NOTES:
1.Segment Revenue, Results and Capital Employed
| (Rs. Crores) |
| Particulars |
Quarter ended on 30.09.2005
(Audited) |
Corresponding quarter ended on 30.09.2004
in the Previous Year
(Unaudited) |
Six months ended on 30.09.2005
(Audited) |
Corresponding Six months ended on
30.09.2004 in the Previous Year
(Audited) |
Previous Financial Year ended on 31.03.2005
(Audited) |
| Revenue by Business Segment |
|
|
|
|
|
| Steel business |
3,523.10 |
3,324.86 |
6,554.62 |
6,225.24 |
12,992.49 |
| Ferro Alloys and Minerals |
305.77 |
388.55 |
680.90 |
693.58 |
1,449.64 |
| Others |
247.38 |
223.67 |
469.67 |
390.34 |
888.27 |
| Total |
4,076.25 |
3,937.08 |
7,705.19 |
7,309.16 |
15,330.40 |
| Less: Inter segment revenue |
211.15 |
198.72 |
375.57 |
406.15 |
831.45 |
| Net sales/ income from operations |
3,865.10 |
3,738.36 |
7,329.62 |
6,903.01 |
14,498.95 |
| Segment results before Interest, Exceptional items and
Tax: |
|
|
|
|
|
| Steel business |
1,382.41 |
1,300.28 |
2,608.61 |
2,399.05 |
4,764.60 |
| Ferro Alloys and Minerals |
103.62 |
171.92 |
292.62 |
328.96 |
700.89 |
| Others |
7.49 |
10.40 |
25.38 |
19.65 |
38.84 |
| Total |
1,493.52 |
1,482.60 |
2,926.61 |
2,747.66 |
5,504.33 |
| Less: |
|
|
|
|
|
| Interest |
30.71 |
47.48 |
64.86 |
96.43 |
186.80 |
| Other
unallocable (income)/expenditure |
(101.36) |
(43.87) |
(116.17) |
(50.67) |
(70.28) |
| Profit before Tax and Exceptional items |
1,564.17 |
1,478.99 |
2,977.92 |
2,701.90 |
5,387.81 |
| Exceptional items : |
|
|
|
|
|
| Employee Separation Compensation |
(28.99) |
(25.76) |
(58.56) |
(50.05) |
(119.11) |
| Profit on Sale of Long Term Investments |
- |
- |
- |
- |
28.58 |
| Profit before Tax |
1,535.18 |
1,453.23 |
2,919.36 |
2,651.85 |
5,297.28 |
| Less: Taxes |
489.76 |
523.65 |
949.83 |
976.78 |
1,823.12 |
| Profit after Tax |
1,045.42 |
929.58 |
1,969.53 |
1,675.07 |
3,474.16 |
| Segment Capital Employed: |
|
|
|
|
|
| Steel business |
10,268.63 |
8,744.03 |
10,268.63 |
8,744.03 |
9,415.05 |
| Ferro Alloys and Minerals |
224.82 |
214.12 |
224.82 |
214.12 |
200.80 |
| Others |
176.59 |
167.95 |
176.59 |
167.95 |
167.52 |
| Total |
10,670.04 |
9,126.10 |
10,670.04 |
9,126.10 |
9,783.37 |
2. The name of the Company has been changed from "The Tata Iron and Steel Company
Limited" to "Tata Steel Limited" with effect from 12th August, 2005.
3.Information on investor complaints pursuant to clause 41 of the listing agreement for
the quarter ended 30.09.2005:
| |
Opening balance |
Received during the quarter |
Resolved during the quarter |
Closing balance |
| Investor complaints |
6 |
23 |
24 |
5 |
| Complaints pertaining to receipt of dividend warrants for FY 2004-05 |
- |
379 |
36 |
343(*) |
| Total |
6 |
402 |
60 |
348 |
(*) Pertains to dividend warrants, the reconciliation of which is in progress.
4.The Company has, on 8th September, 2005, signed a Memorandum of Understanding (MoU)
with the Government of Jharkhand for setting up a 12-million tonnes per annum greenfield
integrated steel plant in Jharkhand and for expansion of its existing plant at Jamshedpur
from 5 million tonnes per annum to 10 million tonnes per annum.
5.The Government of Jharkhand has, on 20th August, 2005 renewed the Land Lease for
Jamshedpur for a period of 30 years with effect from 1st January, 1996 on the same terms
and conditions contained in the earlier lease document.
6. The Company and the Rashtriya Colliery Mazdoor Sangh, representing the employees at
Jamadoba and West Bokaro collieries, have on 18th September, 2005 signed an agreement to
implement the revised wage structure at the collieries.
7.Figures for the previous period have been regrouped and reclassified to conform to
the classification of the current period, wherever necessary.
8.The above results have been taken on record in the Board meeting of date.
TATA STEEL LIMITED
| Mumbai, 26th October, 2005 |
Sd/- Ratan N. Tata
Chairman |
TATA STEEL LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Consolidated Financial Results for the Quarter/ Six months ended on 30th
September, 2005
| |
|
|
Quarter ended on 30.09.2005
(Audited) |
Corresponding quarter ended on 30.09.2004
in the Previous Year
(Unaudited) |
Six Months ended on 30.09.2005
(Audited) |
Corresponding Six Months ended on
30.09.2004 in the Previous Year
(Unaudited) |
Previous Financial Year ended on 31.03.2005 (Audited) |
| 1 |
Sales/Income from Operations |
Rs. Crores |
5,555.33 |
4,375.04 |
10,820.64 |
7,991.48 |
17,414.52 |
| |
Less: Excise Duty |
" |
539.58 |
376.55 |
1,045.57 |
624.79 |
1,415.91 |
| |
Net Sales/Income from Operations |
" |
5,015.75 |
3,998.49 |
9,775.07 |
7,366.69 |
15,998.61 |
| 2 |
Total Expenditure |
|
|
|
|
|
|
| |
a) (Increase) /decrease in stock in trade |
" |
90.25 |
(20.75) |
(196.56) |
(274.58) |
(289.33) |
| |
b)
Purchases of finished, semi-finished steel and other products |
" |
896.35 |
410.04 |
2,116.68 |
864.77 |
2,327.08 |
| |
c) Raw materials consumed |
" |
540.97 |
442.83 |
1,071.62 |
864.26 |
1,844.02 |
| |
d) Staff Cost |
" |
417.85 |
373.52 |
795.40 |
714.87 |
1,414.42 |
| |
e) Purchase of Power |
" |
223.87 |
181.71 |
453.68 |
363.01 |
731.70 |
| |
f) Freight and handling |
" |
296.62 |
260.20 |
562.07 |
471.48 |
992.20 |
| |
g) Other Expenditure |
" |
781.43 |
684.06 |
1,511.83 |
1,265.15 |
2,777.25 |
| |
h) Total Expenditure ( 2a to
2g) |
" |
3,247.34 |
2,331.61 |
6,314.72 |
4,268.96 |
9,797.34 |
| 3 |
Operating Profit |
" |
1,768.41 |
1,666.88 |
3,460.35 |
3,097.73 |
6,201.27 |
| 4 |
Other Income |
" |
107.57 |
86.76 |
138.74 |
114.57 |
182.44 |
| 5 |
Interest ( net) |
" |
37.81 |
49.50 |
80.33 |
100.76 |
198.13 |
| 6 |
Depreciation |
" |
195.13 |
164.48 |
384.42 |
326.69 |
645.46 |
| 7 |
Profit before
Tax and Exceptional Items (3+4-5-6) |
" |
1,643.04 |
1,539.66 |
3,134.34 |
2,784.85 |
5,540.12 |
| 8 |
Exceptional Items |
|
|
|
|
|
|
| |
a) Employee Separation
Compensation |
" |
(28.76) |
(26.37) |
(59.15) |
(51.36) |
(120.57) |
| |
b) Profit/(Loss) on divestments |
" |
- |
- |
- |
- |
23.69 |
| |
c) Provision for contingencies |
" |
- |
(0.33) |
- |
(0.33) |
(0.80) |
| |
d) Total of exceptional items (8a to 8c) |
|
(28.76) |
(26.70) |
(59.15) |
(51.69) |
(97.68) |
| 9 |
Profit before Tax ( 7-8d) |
" |
1,614.28 |
1,512.96 |
3,075.19 |
2,733.16 |
5,442.44 |
| 10 |
Provision for Current Taxation |
" |
485.98 |
521.82 |
954.55 |
967.83 |
1,875.09 |
| 11 |
Provision for Deferred Taxation |
" |
12.04 |
9.84 |
13.79 |
23.13 |
(3.85) |
| 12 |
Provision for Fringe
Benefits Tax |
" |
6.61 |
- |
10.94 |
- |
- |
| 13 |
Net Profit (+) /
Loss (-) (9-10-11-12) |
" |
1,109.65 |
981.30 |
2,095.91 |
1,742.20 |
3,571.20 |
| 14 |
Add - Share of Profits of Associates |
" |
9.98 |
14.89 |
17.58 |
32.51 |
58.02 |
| 15 |
Less - Minority Interest in consolidated Profit/(Loss) |
" |
8.31 |
6.28 |
16.85 |
9.95 |
25.96 |
| 16 |
Profits after Minority Interest and share of Profits of Associates ( 13 +
14 -15) |
" |
1,111.32 |
989.91 |
2,096.64 |
1,764.76 |
3,603.26 |
| 17 |
Paid-up
Equity Share Capital ( Face Value : Rs 10 per Share ) |
" |
552.27 |
552.27 |
552.27 |
552.27 |
552.27 |
| 18 |
Reserves
excluding revaluation reserves |
" |
|
|
|
|
6,782.79 |
| 19 |
Basic
and Diluted Earnings per Share (not annualised) ( after exceptional items) |
Rupees |
20.13 |
17.93 |
37.98 |
31.97 |
65.27 |
NOTES:
1. Segment Revenue, Results and Capital Employed
| (Rs. Crores) |
| Particulars |
Quarter ended on 30.09.2005
(Audited) |
Corresponding quarter ended on 30.09.2004
in the Previous Year
(Unaudited) |
Six months ended on 30.09.2005
(Audited) |
Corresponding Six months ended on
30.09.2004 in the Previous Year
(Unaudited) |
Previous Financial Year ended on 31.03.2005
(Audited) |
| Revenue by Business Segment |
|
|
|
|
|
| Steel business |
4,546.73 |
3,416.75 |
8,796.77 |
6,389.19 |
13,919.26 |
| Ferro Alloys and Minerals |
305.77 |
388.55 |
680.90 |
693.58 |
1,449.64 |
| Others |
538.16 |
533.40 |
1,006.48 |
945.33 |
2,081.18 |
| Total |
5,390.66 |
4,338.70 |
10,484.15 |
8,028.10 |
17,450.08 |
| Less: Inter segment revenue |
374.91 |
340.21 |
709.08 |
661.41 |
1,451.47 |
| Net sales/ income from operations |
5,015.75 |
3,998.49 |
9,775.07 |
7,366.69 |
15,998.61 |
| Segment results before Interest, Exceptional items and
Tax: |
|
|
|
|
|
| Steel business |
1,449.47 |
1,308.68 |
2,727.99 |
2,411.25 |
4,802.84 |
| Ferro Alloys and Minerals |
103.62 |
171.92 |
292.62 |
328.96 |
700.89 |
| Others |
50.59 |
79.35 |
94.20 |
109.35 |
194.90 |
| Total |
1,603.68 |
1,559.95 |
3,114.81 |
2,849.56 |
5,698.63 |
| Less: |
|
|
|
|
|
| Interest |
37.81 |
49.50 |
80.33 |
100.76 |
198.13 |
| Other unallocable (income)/expenditure |
(102.12) |
(44.44) |
(117.27) |
(51.58) |
(72.27) |
| Inter
segment eliminations |
24.95 |
15.23 |
17.41 |
15.53 |
32.65 |
| Profit before Tax and Exceptional items |
1,643.04 |
1,539.66 |
3,134.34 |
2,784.85 |
5,540.12 |
| Exceptional items : |
|
|
|
|
|
| Employee Separation Compensation |
(28.76) |
(26.37) |
(59.15) |
(51.36) |
(120.57) |
| Provision for Contingencies |
- |
(0.33) |
- |
(0.33) |
(0.80) |
| Profit on Sale of Long Term Investments |
- |
- |
- |
- |
23.69 |
| Profit before Tax |
1,614.28 |
1,512.96 |
3,075.19 |
2,733.16 |
5,442.44 |
| Less: Taxes |
504.63 |
531.66 |
979.28 |
990.96 |
1,871.24 |
| Profit after Tax |
1,109.65 |
981.30 |
2,095.91 |
1,742.20 |
3,571.20 |
| Segment Capital Employed: |
|
|
|
|
|
| Steel business |
11,654.64 |
8,830.25 |
11,654.64 |
8,830.25 |
10,656.36 |
| Ferro Alloys and Minerals |
224.82 |
214.12 |
224.82 |
214.12 |
200.80 |
| Others |
746.82 |
587.77 |
746.82 |
587.77 |
672.63 |
| Total |
12,626.28 |
9,632.14 |
12,626.28 |
9,632.14 |
11,529.79 |
2. The Consolidated Financial Results 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. NatSteel Asia Pte Ltd. became a subsidiary of the Company with
effect from 15th February, 2005. The comparative figures for the previous quarter / six
months ended on 30th September, 2004 do not include the results of the same.
4. Figures for the previous period have been regrouped and
reclassified to conform to the
classification of the current period, wherever necessary.
5. The Consolidated Financial results have been taken on record by
the Board of Directors
of the Company in its meeting of date.
TATA STEEL LIMITED
| Mumbai, 26th October, 2005 |
Sd/- Ratan N. Tata
Chairman |
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