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the PDF format of the Audited Financial Results for the Quarter/Nine months ended
on 31st December, 2007 |
|
TATA STEEL LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Financial Results for the Quarter/Nine months
ended on 31st December, 2007
| |
|
|
Quarter ended on 31.12.2007 |
Quarter ended
on 31.12.2006 |
Nine months ended on 31.12.2007 |
Nine months
ended on
31.12.2006 |
Financial Year ended on 31.03.2007 |
| |
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
| (A) |
|
|
|
|
|
|
|
| 1 |
Steel Production |
Tonnes |
1,245,926 |
1,289,822 |
3,590,430 |
3,656,158 |
4,928,548 |
| 2 |
Steel Sales |
" |
1,243,500 |
1,234,404 |
3,502,789 |
3,533,464 |
4,794,012 |
| 3 |
Export turnover (F.O.B Value) |
Rs. Crores |
596.04 |
474.60 |
1,555.25 |
1,477.49 |
1,957.91 |
| US $ Mill. |
150.32 |
106.44 |
384.93 |
322.81 |
434.18 |
| (B) |
|
|
|
|
|
|
|
| 1 |
Net Sales/Income from Operations |
Rs. Crores |
4,973.92 |
4,469.46 |
13,956.59 |
12,571.19 |
17,552.02 |
| 2 |
Other Income |
" |
67.03 |
98.74 |
307.47 |
353.90 |
433.67 |
| 3 |
Total Income ( 1+2) |
" |
5,040.95 |
4,568.20 |
14,264.06 |
12,925.09 |
17,985.69 |
| 4 |
Total Expenditure |
|
|
|
|
|
|
| |
a) (Increase) /decrease in stock in trade |
" |
(61.43) |
(79.02) |
(154.41) |
(147.88) |
(82.47) |
| |
b)
Purchases of finished, semi-finished steel and other products |
" |
108.33 |
110.99 |
301.50 |
340.14 |
450.60 |
| |
c) Raw materials consumed |
" |
930.85 |
831.49 |
2,474.19 |
2,260.75 |
3,121.46 |
| |
d) Staff Cost |
" |
364.64 |
361.07 |
1,118.16 |
1,027.17 |
1,454.83 |
| |
e) Purchase of Power |
" |
239.51 |
226.07 |
710.97 |
680.16 |
921.69 |
| |
f) Freight and handling |
" |
287.69 |
285.61 |
813.79 |
818.77 |
1,117.45 |
| |
g) Depreciation |
" |
209.21 |
199.06 |
625.46 |
589.93 |
819.29 |
| |
h)
Other Expenditure |
" |
1,007.72 |
949.63 |
2,871.17 |
2,522.34 |
3,595.19 |
| |
i) Total Expenditure (4a to 4h) |
" |
3,086.52 |
2,884.90 |
8,760.83 |
8,091.38 |
11,398.04 |
| 5 |
Profit before Interest, Exceptional Items & Tax (3-4) |
" |
1,954.43 |
1,683.30 |
5,503.23 |
4,833.71 |
6,587.65 |
| 6 |
Interest (net) |
" |
362.67 |
52.03 |
644.81 |
129.09 |
173.90 |
| 7 |
Exceptional Items |
|
|
|
|
|
|
| |
a) Employee Separation
Compensation |
" |
(65.03) |
(49.27) |
(175.90) |
(111.97) |
(152.10) |
| |
b) Contribution for Sports Infrastructure |
" |
- |
- |
(150.00) |
- |
- |
| |
c) Exchange Gain / (Loss ) (See Note 2) |
" |
47.92 |
- |
691.25 |
- |
- |
| |
Total of Exceptional items (7a to
7c) |
" |
(17.11) |
(49.27) |
365.35 |
(111.97) |
(152.10) |
| 8 |
Profit before tax (5-6+7) |
" |
1,574.65 |
1,582.00 |
5,223.77 |
4,592.65 |
6,261.65 |
| 9 |
Tax Expense
|
" |
506.07 |
518.25 |
1,742.25 |
1,474.00 |
2,039.50 |
| 10 |
Net Profit (+) / Loss (-) (8-9) |
" |
1,068.58 |
1,063.75 |
3,481.52 |
3,118.65 |
4,222.15 |
| 11 |
Paid-up Equity Share Capital (Face
Value : Rs 10 per Share) |
" |
609.17 |
580.67 |
609.17 |
580.67 |
580.67 |
| 12 |
Reserves excluding revaluation reserves |
" |
|
|
|
|
13,368.42 |
| 13 |
Basic Earnings per Share (not annualised)
(after Exceptional items) |
Rupees |
17.55 |
18.33 |
57.33 |
54.74 |
73.76 |
| 14 |
Diluted Earnings per Share
(not annualised) ( after Exceptional items) |
Rupees |
15.28 |
18.33 |
52.78 |
54.74 |
73.76 |
| 15 |
Aggregate of Public Shareholding
Number of shares |
Nos. |
403,502,773 |
404,816,773 |
403,502,773 |
404,816,773 |
403,316,773 |
| |
% of shareholding |
% |
66.26% |
69.74% |
66.26% |
69.74% |
69.48% |
Segment Revenue, Results and Capital Employed
| (Rs. Crores) |
| Particulars |
Quarter ended on
31.12.2007 |
Quarter ended on 31.12.2006
|
Nine months
ended on
31.12.2007 |
Nine months
ended on
31.12.2006 |
Financial Year
ended on
31.03.2007 |
| Revenue by Business Segment: |
|
|
|
|
|
| Steel business |
4,377.19 |
3,978.72 |
12,492.19 |
11,198.48 |
15,627.86 |
| Ferro Alloys and Minerals |
573.01 |
416.13 |
1,325.66 |
1,117.92 |
1,574.35 |
| Others |
315.37 |
324.10 |
960.10 |
904.21 |
1,257.50 |
| Total |
5,265.57 |
4,718.95 |
14,777.95 |
13,220.61 |
18,459.71 |
| Less: Inter segment revenue |
291.65 |
249.49 |
821.36 |
649.42 |
907.69 |
| Net sales/ income from operations |
4,973.92 |
4,469.46 |
13,956.59 |
12,571.19 |
17,552.02 |
| Segment results before interest,
exceptional items and tax: |
|
|
|
|
|
| Steel business |
1,702.72 |
1,474.64 |
4,802.84 |
4,074.93 |
5,643.82 |
| Ferro Alloys and Minerals |
233.65 |
134.44 |
531.21 |
427.25 |
573.67 |
| Others |
(0.14) |
10.27 |
(7.11) |
53.28 |
53.62 |
| Unallocated income/(expenditure) |
18.20 |
63.95 |
176.29 |
278.25 |
316.54 |
| Total |
1,954.43 |
1,683.30 |
5,503.23 |
4,833.71 |
6,587.65 |
| Less: |
|
|
|
|
|
| Interest |
362.67 |
52.03 |
644.81 |
129.09 |
173.90 |
| Profit before exceptional items &
tax |
1,591.76 |
1,631.27 |
4,858.42 |
4,704.62 |
6,413.75 |
| Exceptional Items: |
|
|
|
|
|
| Employee Separation Compensation |
(65.03) |
(49.27) |
(175.90) |
(111.97) |
(152.10) |
| Contribution for Sports
Infrastructure |
- |
- |
(150.00) |
- |
- |
| Exchange Gain / (Loss) |
47.92 |
- |
691.25 |
- |
- |
| Profit before tax |
1,574.65 |
1,582.00 |
5,223.77 |
4,592.65 |
6,261.65 |
| Less: Tax Expense |
506.07 |
518.25 |
1,742.25 |
1,474.00 |
2,039.50 |
| Profit after tax |
1,068.58 |
1,063.75 |
3,481.52 |
3,118.65 |
4,222.15 |
| Segment Capital Employed: |
|
|
|
|
|
| Steel business |
11,623.09 |
10,630.83 |
11,623.09 |
10,630.83 |
10,625.37 |
| Ferro Alloys and Minerals |
338.85 |
212.86 |
338.85 |
212.86 |
149.90 |
| Others |
301.70 |
279.67 |
301.70 |
279.67 |
276.20 |
| Unallocated |
28,474.76 |
6,391.88 |
28,474.76 |
6,391.88 |
8,237.32 |
| Total |
40,738.40 |
17,515.24 |
40,738.40 |
17,515.24 |
19,288.79 |
NOTES:
1. Pursuant to the offer made by the Company
for Equity Shares and 2% Cumulative Compulsorily Convertible
Preference Shares (CCPS), the Company has received application
monies for 121,611,464 equity shares at the rate of Rs. 300 per
share aggregating to Rs. 3,648.34 crores and for 547,251,605
CCPS at the rate of Rs. 100 per share aggregating to Rs.
5,472.51 crores. The allotment of Equity Shares and CCPS were
made by the Committee of Directors on 18th January 2008.
As per the terms of the issue, six CCPS of Rs. 100 each are
compulsorily and automatically
convertible into one equity share of Rs. 10 each at a premium of
Rs. 590 per share on 1st September 2009. Diluted EPS has been
calculated taking the effects of this rights issue.
2. Item 7 (c) of the Exceptional Items
represents a net gain of Rs. 691.25 crores (Rs. 47.92 crores for
the quarter) due to the appreciation of the Rupee against the
various foreign currencies during the period ended 31st December
2007.
3. Information on investor complaints
pursuant to clause 41 of the listing agreement for the quarter
ended 31.12.2007:
Opening balance |
Received during the quarter |
Resolved during the quarter |
Closing balance |
| 1 |
454 |
453 |
2 |
4. Figures for the previous period have been
regrouped and reclassified to conform to the
classification of the current period, wherever necessary.
5. The above results have been reviewed by
the Audit Committee and were approved by the Board of Directors
in its meeting of date.
Tata Steel Limited
| Mumbai: January 31, 2008 |
Sd/- Ratan N. Tata
Chairman |
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