::: Third Quarter Results :::
[Quarterly
Results Archives]
Audited Financial Results for the Quarter/Nine months
ended on 31st December, 2004
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Quarter ended on 31.12.2004 |
Corresponding quarter ended on 31.12.2003
in the Previous Year
(Unaudited) |
Nine Months ended on 31.12.2004 |
Corresponding Nine Months ended on
31.12.2003 in the Previous Year
(Unaudited) |
Previous Financial Year ended on 31.03.2004 |
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(1) |
(2) |
(3) |
(4) |
(5) |
| (A) |
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| 1 |
Steel Production |
Tonnes |
1,028,539 |
1,039,987 |
3,093,926 |
3,044,091 |
4,079,739 |
| 2 |
Steel Sales |
" |
997,592 |
983,167 |
2,903,036 |
2,908,199 |
3,961,093 |
| 3 |
Export turnover (F.O.B. Value) |
Rs. Crores |
502.69 |
358.53 |
1,522.95 |
1,057.04 |
1,496.56 |
| US $ Mill. |
112.51 |
78.85 |
335.36 |
230.10 |
327.72 |
| (B) |
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| 1 |
Sales/Income from Operations |
Rs. Crores |
4,090.46 |
2,967.00 |
11,603.74 |
8,430.91 |
11,920.96 |
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Less: Excise Duty |
" |
359.17 |
334.97 |
969.44 |
928.79 |
1,218.57 |
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Net Sales/Income from Operations |
" |
3,731.29 |
2,632.03 |
10,634.30 |
7,502.12 |
10,702.39 |
| 2 |
Total Expenditure |
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a) (Increase) /decrease in stock in trade |
" |
(132.85) |
(43.46) |
(419.75) |
(125.79) |
(64.46) |
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b)
Purchase of finished, semi-finished steel and other products |
" |
392.39 |
202.91 |
962.30 |
538.37 |
767.13 |
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c) Raw materials consumed |
" |
486.68 |
364.21 |
1,334.59 |
1,054.55 |
1,462.44 |
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d) Staff Cost |
" |
307.58 |
315.37 |
972.71 |
1,032.19 |
1,349.59 |
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e) Purchase of Power |
" |
175.20 |
163.98 |
531.72 |
509.50 |
667.53 |
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f) Freight and handling |
" |
240.03 |
188.35 |
676.67 |
560.07 |
748.44 |
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g) Other Expenditure |
" |
690.71 |
560.22 |
1,973.63 |
1,621.26 |
2,276.31 |
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h) Total Expenditure (2a to 2g) |
" |
2,159.74 |
1,751.58 |
6,031.87 |
5,190.15 |
7,206.98 |
| 3 |
Operating Profit |
" |
1,571.55 |
880.45 |
4,602.43 |
2,311.97 |
3,495.41 |
| 4 |
Other Income |
" |
33.80 |
26.24 |
118.29 |
100.67 |
140.51 |
| 5 |
Interest (net) |
" |
80.93 |
59.71 |
177.36 |
193.19 |
122.17 |
| 6 |
Depreciation |
" |
149.51 |
147.85 |
466.55 |
439.47 |
625.11 |
| 7 |
Profit before
Tax and Exceptional Items (3+4-5-6) |
" |
1,374.91 |
699.13 |
4,076.81 |
1,779.98 |
2,888.64 |
| 8 |
Exceptional Items |
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a) Employee Separation
Compensation |
" |
(30.81) |
(19.91) |
(80.86) |
(92.63) |
(230.83) |
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b) Profit on sale of long
term investments |
" |
28.58 |
8.33 |
28.58 |
8.39 |
8.15 |
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c) Total of Exceptional
items (8a + 8b) |
" |
(2.23) |
(11.58) |
(52.28) |
(84.24) |
(222.68) |
| 9 |
Profit before Tax (7-8c) |
" |
1,372.68 |
687.55 |
4,024.53 |
1,695.74 |
2,665.96 |
| 10 |
Provision for Current Taxation |
" |
484.00 |
193.22 |
1,440.00 |
581.85 |
920.00 |
| 11 |
Provision for Deferred Taxation |
" |
(1.83) |
47.16 |
18.95 |
(3.45) |
(0.26) |
| 12 |
Net Profit (+) /
Loss (-) (9-10-11) |
" |
890.51 |
447.17 |
2,565.58 |
1,117.34 |
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 |
" |
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4,146.68 |
| 15 |
Basic and Diluted Earnings per Share (not annualised)
(after Exceptional items) |
Rupees |
16.09 |
8.08 |
46.35 |
20.19 |
31.55 |
| 16 |
Aggregate
of Non-promoter Shareholding |
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Number
of shares |
Nos. |
406,501,361 |
271,966,962 |
406,501,361 |
271,966,962 |
271,966,962 |
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% of shareholding |
% |
73.45% |
73.71% |
73.45% |
73.71% |
73.71% |
NOTES:
1. Segment Revenue, Results and Capital Employed
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| (Rs. Crores) |
| Particulars |
Quarter ended on 31.12.2004 |
Corresponding Quarter ended on 31.12.2003
in the Previous Year
(Unaudited) |
Nine months ended on 31.12.2004 |
Corresponding Nine months ended on
31.12.2003 in the Previous Year
(Unaudited) |
Previous Financial Year ended on 31.03.2004 |
| Revenue by Business Segment |
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| Steel business |
3311.47 |
2426.42 |
9536.71 |
6895.59 |
9875.81 |
| Ferro Alloys and Minerals |
393.90 |
168.80 |
1087.48 |
499.40 |
730.17 |
| Others |
230.29 |
177.76 |
620.63 |
490.62 |
692.99 |
| Total |
3935.66 |
2772.98 |
11244.82 |
7885.61 |
11298.97 |
| Less: Inter segment revenue |
204.37 |
140.95 |
610.52 |
383.49 |
596.58 |
| Net sales/ income from operations |
3731.29 |
2632.03 |
10634.30 |
7502.12 |
10702.39 |
| Segment results before Interest, Exceptional items and
Tax |
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| Steel business |
1223.75 |
702.46 |
3622.80 |
1814.25 |
2775.83 |
| Ferro Alloys and Minerals |
207.28 |
39.27 |
536.24 |
117.43 |
170.38 |
| Others |
10.31 |
6.28 |
29.96 |
9.06 |
24.35 |
| Total |
1441.34 |
748.01 |
4189.00 |
1940.74 |
2970.56 |
| Less: |
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| Interest |
80.93 |
59.71 |
177.36 |
193.19 |
122.17 |
| Other
unallocable (income)/expenditure |
(14.50) |
(10.83) |
(65.17) |
(32.43) |
(40.25) |
| Profit before Tax and Exceptional items |
1374.91 |
699.13 |
4076.81 |
1779.98 |
2888.64 |
| Exceptional items : |
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| Employee Separation Compensation |
(30.81) |
(19.91) |
(80.86) |
(92.63) |
(230.83) |
| Profit on Sale of Long Term Investments |
28.58 |
8.33 |
28.58 |
8.39 |
8.15 |
| Profit before Tax |
1372.68 |
687.55 |
4024.53 |
1695.74 |
2665.96 |
| Less: Taxes |
482.17 |
240.38 |
1458.95 |
578.40 |
919.74 |
| Profit after Tax |
890.51 |
447.17 |
2565.58 |
1117.34 |
1746.22 |
| Segment Capital Employed |
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| Steel business |
8892.28 |
7805.18 |
8892.28 |
7805.18 |
8047.98 |
| Ferro Alloys and Minerals |
213.17 |
158.76 |
213.17 |
158.76 |
154.65 |
| Others |
163.55 |
175.84 |
163.55 |
175.84 |
135.21 |
| Total |
9269.00 |
8139.78 |
9269.00 |
8139.78 |
8337.84 |
| 2. The Company has, on 17th November 2004, signed a Memorandum
of Understanding (MoU) with the Government of Orissa for setting up a six million tonne
green-field integrated Steel Plant at Kalinganagar in Jajpur District of Orissa. 3. The
company has, during the quarter, sold its holding in Tata Honeywell Limited (8,75,000
shares) and Stewarts and Lloyds of India Limited (2,99,925 shares). Consequently, Stewarts
and Lloyds of India Limited has ceased to be a subsidiary of Tata Steel.
4. 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 beginning of 2003-04, the profit before tax for those
nine-months would have been higher by Rs. 48.50 crores and profit before tax for that
third quarter would have been lower by Rs. 1.20 crores respectively. Corresponding figures
for Employee Separation Compensation for the previous periods have not been recast.
5. 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.
6. 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.
7. Information on investor complaints pursuant to clause 41 of the listing agreement
for the quarter ended 31.12.2004. |
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Opening balance |
Received during the quarter |
Resolved during the quarter |
Closing balance |
| Investor complaints |
4 |
29 |
30 |
3 |
| Complaints pertaining to receipt of dividend warrants |
177 |
213 |
390 |
0 |
| Total |
181 |
242 |
420 |
3 |
| 8. Figures for the previous periods 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. |
THE TATA IRON & STEEL COMPANY LIMITED
| Mumbai, 20th January, 2005 |
Sd/- Ratan N. Tata
Chairman |
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