::: Third Quarter Results :::
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Results Archives]
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the PDF format of the Audited Financial Results for the Quarter/Nine months ended
on 31st December, 2005 |
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, 2005
| |
|
|
Quarter ended on 31.12.2005
(Audited) |
Corresponding quarter ended on 31.12.2004
in the Previous Year
(Audited) |
Nine Months ended on 31.12.2005
(Audited) |
Corresponding Nine Months ended on
31.12.2004 in the Previous Year
(Audited) |
Previous Financial Year ended on 31.03.2005
(Audited) |
| |
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
| (A) |
|
|
|
|
|
|
|
| 1 |
Steel Production |
Tonnes |
1,133,006 |
1,051,948 |
3,290,621 |
3,134,357 |
4,109,002 |
| 2 |
Steel Sales |
" |
1,107,345 |
1,002,126 |
3,162,447 |
2,936,035 |
3,935,304 |
| 3 |
Export turnover (F.O.B Value) |
Rs. Crores |
481.99 |
630.18 |
1,516.41 |
1,655.11 |
2,183.79 |
| US $ Mill. |
107.12 |
140.96 |
343.88 |
364.83 |
486.38 |
| (B) |
|
|
|
|
|
|
|
| 1 |
Sales/Income from Operations |
Rs. Crores |
4,185.21 |
4,090.46 |
12,541.74 |
11,603.74 |
15,876.87 |
| |
Less: Excise Duty |
" |
504.41 |
359.17 |
1,531.32 |
969.44 |
1,377.92 |
| |
Net Sales/Income from Operations |
" |
3,680.80 |
3,731.29 |
11,010.42 |
10,634.30 |
14,498.95 |
| 2 |
Total Expenditure |
| |
a) (Increase) /decrease in stock in trade |
" |
(99.11) |
(130.49) |
(265.62) |
(408.49) |
(289.55) |
| |
b)
Purchases of finished, semi-finished steel and other products |
" |
175.87 |
392.39 |
530.98 |
962.30 |
1,305.28 |
| |
c) Raw materials consumed |
" |
612.77 |
484.32 |
1,614.03 |
1,323.33 |
1,715.14 |
| |
d) Staff Cost |
" |
336.04 |
307.58 |
980.49 |
972.71 |
1,291.00 |
| |
e) Purchase of Power |
" |
202.42 |
175.20 |
590.22 |
531.72 |
712.00 |
| |
f) Freight and handling |
" |
261.64 |
240.03 |
723.24 |
676.67 |
936.68 |
| |
g) Other Expenditure |
" |
800.27 |
690.71 |
2,206.37 |
1,973.63 |
2,783.04 |
| |
h) Total Expenditure (2a to 2g) |
" |
2,289.90 |
2,159.74 |
6,379.71 |
6,031.87 |
8,453.59 |
| 3 |
Operating Profit |
" |
1,390.90 |
1,571.55 |
4,630.71 |
4,602.43 |
6,045.36 |
| 4 |
Other Income |
" |
41.28 |
33.80 |
190.40 |
118.29 |
148.03 |
| 5 |
Interest (net) |
" |
36.43 |
80.93 |
101.29 |
177.36 |
186.80 |
| 6 |
Depreciation |
" |
235.68 |
149.51 |
581.83 |
466.55 |
618.78 |
| 7 |
Profit before
Tax and Exceptional Items (3+4-5-6) |
" |
1,160.07 |
1,374.91 |
4,137.99 |
4,076.81 |
5,387.81 |
| 8 |
Exceptional Items |
| |
a) Employee Separation
Compensation |
" |
(28.60) |
(30.81) |
(87.16) |
(80.86) |
(119.11) |
| |
b) Profit on sale of long
term investments |
" |
- |
28.58 |
- |
28.58 |
28.58 |
| |
c) Total of Exceptional
items (8a + 8b) |
" |
(28.60) |
(2.23) |
(87.16) |
(52.28) |
(90.53) |
| 9 |
Profit before Tax (7-8c) |
" |
1,131.47 |
1,372.68 |
4,050.83 |
4,024.53 |
5,297.28 |
| 10 |
Provision for Current Taxation |
" |
364.00 |
484.00 |
1,294.00 |
1,440.00 |
1,833.66 |
| 11 |
Provision for Deferred Taxation |
" |
8.44 |
(1.83) |
18.31 |
18.95 |
(10.54) |
| 12 |
Provision for Fringe
Benefits Tax |
'' |
5.29 |
- |
15.25 |
- |
- |
| 13 |
Net Profit (+) /
Loss (-) (9-10-11-12) |
" |
753.74 |
890.51 |
2,723.27 |
2,565.58 |
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 |
13.62 |
16.09 |
49.20 |
46.35 |
62.77 |
| 17 |
Aggregate
of Non-promoter Shareholding |
|
|
|
|
|
|
| |
Number
of shares |
Nos. |
405,610,640 |
406,501,361 |
405,610,640 |
406,501,361 |
406,463,440 |
| |
% of shareholding |
% |
73.28% |
73.45% |
73.28% |
73.45% |
73.44% |
| NOTES: 1. Segment Revenue, Results and Capital
Employed
|
| (Rs. Crores) |
| Particulars |
Quarter ended on 31.12.2005 (Audited) |
Corresponding Quarter ended on 31.12.2004
in the Previous Year
(Audited) |
Nine months ended on 31.12.2005 (Audited) |
Corresponding Nine months ended on
31.12.2004 in the Previous Year
(Audited) |
Previous Financial Year ended on 31.03.2005 (Audited) |
| Revenue by Business Segment: |
| Steel business |
3,289.93 |
3,311.47 |
9,844.55 |
9,536.71 |
12,992.49 |
| Ferro Alloys and Minerals |
336.92 |
393.90 |
1,017.82 |
1,087.48 |
1,449.64 |
| Others |
241.92 |
230.29 |
711.59 |
620.63 |
888.27 |
| Total |
3,868.77 |
3,935.66 |
11,573.96 |
11,244.82 |
15,330.40 |
| Less: Inter segment revenue |
187.97 |
204.37 |
563.54 |
610.52 |
831.45 |
| Net sales/ income from operations |
3,680.80 |
3,731.29 |
11,010.42 |
10,634.30 |
14,498.95 |
| Segment results before Interest, Exceptional
items and Tax: |
| Steel business |
1,015.20 |
1,223.75 |
3,623.81 |
3,622.80 |
4,764.60 |
| Ferro Alloys and Minerals |
145.81 |
207.28 |
438.43 |
536.24 |
700.89 |
| Others |
13.26 |
10.31 |
38.64 |
29.96 |
38.84 |
| Total |
1,174.27 |
1,441.34 |
4,100.88 |
4,189.00 |
5,504.33 |
| Less : |
| Interest |
36.43 |
80.93 |
101.29 |
177.36 |
186.80 |
| Other
unallocable (income)/expenditure |
(22.23) |
(14.50) |
(138.40) |
(65.17) |
(70.28) |
| Profit before Tax and Exceptional items |
1,160.07 |
1,374.91 |
4,137.99 |
4,076.81 |
5,387.81 |
| Exceptional items : |
| Employee Separation Compensation |
(28.60) |
(30.81) |
(87.16) |
(80.86) |
(119.11) |
| Profit on Sale of Long Term Investments |
- |
28.58 |
- |
28.58 |
28.58 |
| Profit before Tax |
1,131.47 |
1,372.68 |
4,050.83 |
4,024.53 |
5,297.28 |
| Less: Taxes |
377.73 |
482.17 |
1,327.56 |
1,458.95 |
1,823.12 |
| Profit after Tax |
753.74 |
890.51 |
2,723.27 |
2,565.58 |
3,474.16 |
| Segment Capital Employed: |
| Steel business |
10,322.80 |
8,892.28 |
10,322.80 |
8,892.28 |
9,415.05 |
| Ferro Alloys and Minerals |
261.96 |
213.17 |
261.96 |
213.17 |
200.80 |
| Others |
195.47 |
163.55 |
195.47 |
163.55 |
167.52 |
| Total |
10,780.23 |
9,269.00 |
10,780.23 |
9,269.00 |
9,783.37 |
| 2. The Company has, on 23rd November, 2005, signed the Share Subscription
Agreement and the Joint Venture Agreement with BlueScope Steel Limited, Australia, to form
a 50:50 Joint Venture Company in India to manufacture zinc/aluminium metallic coated
steel, painted metallic coated steel and rollformed steel products and provide
pre-engineered buildings and other building solutions. 3. The Company has, on 15th
December, 2005, signed definitive agreements with Cementhai Holding Company - a 100%
subsidiary of Siam Cement Company, Thailand to acquire its holding and invest additional
equity in Millennium Steel Company subject to certain conditions. Millennium Steel Company
has a capacity of 1.7 mtpa in Thailand.
4. Information on investor complaints pursuant to clause 41 of the listing agreement
for the quarter ended 31.12.2005: |
| Opening balance |
Received during the quarter |
Resolved during the quarter |
Closing balance |
| 348 |
1332 |
1670 |
10 |
| 5. During the current quarter, the Company has recognized an amount of
Rs. 212.38 crores towards various charges relating to mining leases in accordance with the
guidelines dated 23rd December 2002 and subsequent directives issued by the Ministry of
Environment and Forests under the Forest (Conservation) Act 1980. This expenditure has
been treated as "Development of Properties" under Fixed Assets. Accordingly, the
depreciation for the current quarter includes Rs. 56.70 crores being the amortisation upto
December 2005 (including Rs. 5.59 crores pertaining to the current quarter and Rs. 15.76
crores to the current financial year). 6. Figures for the previous period have been
regrouped and reclassified to conform to the classification of the current period,
wherever necessary.
7. The above results have been taken on record and approved by the Board in its meeting
of date. |
TATA STEEL LIMITED
| Mumbai, 23rd January, 2006 |
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 / Nine months Ended on 31st
December, 2005
| |
|
|
Quarter ended on 31.12.2005 (Audited) |
Corresponding Quarter ended on 31.12.2004 in the
Previous Year
(Unaudited) |
Nine months ended on 31.12.2005 (Audited) |
Corresponding Nine months ended on 31.12.2004 in the
Previous Year
(Unaudited) |
Previous Financial Year ended on 31.03.2005
(Audited) |
| 1 |
Sales/Income from Operations |
Rs. Crores |
5,424.79 |
4,363.14 |
16,245.43 |
12,354.62 |
17,414.52 |
| |
Less: Excise Duty |
" |
506.78 |
363.94 |
1,552.35 |
988.73 |
1,415.91 |
| |
Net Sales/Income from Operations |
" |
4,918.01 |
3,999.20 |
14,693.08 |
11,365.89 |
15,998.61 |
| 2 |
Total Expenditure |
| |
a) (Increase) /decrease in stock in trade |
" |
(120.65) |
(148.91) |
(317.21) |
(423.49) |
(289.33) |
| |
b) Purchases of finished, semi-finished steel and other products |
" |
1,062.83 |
535.19 |
3,179.51 |
1,399.96 |
2,327.08 |
| |
c) Raw materials consumed |
" |
645.12 |
532.68 |
1,716.74 |
1,396.94 |
1,844.02 |
| |
d) Staff Cost |
" |
424.90 |
334.11 |
1,220.30 |
1,048.98 |
1,414.42 |
| |
e) Purchase of Power |
" |
237.14 |
180.25 |
690.82 |
543.26 |
731.70 |
| |
f) Freight and handling |
" |
295.05 |
272.58 |
857.12 |
744.06 |
992.20 |
| |
g) Other Expenditure |
" |
885.94 |
683.95 |
2,397.77 |
1,949.09 |
2,777.25 |
| |
h) Total Expenditure ( 2a to 2g) |
" |
3,430.33 |
2,389.85 |
9,745.05 |
6,658.80 |
9,797.34 |
| 3 |
Operating Profit |
" |
1,487.68 |
1,609.35 |
4,948.03 |
4,707.09 |
6,201.27 |
| 4 |
Other Income |
" |
43.63 |
33.39 |
182.37 |
147.96 |
182.44 |
| 5 |
Interest (net) |
" |
46.51 |
82.90 |
126.84 |
183.66 |
198.13 |
| 6 |
Depreciation |
" |
256.10 |
154.83 |
640.52 |
481.52 |
645.46 |
| 7 |
Profit before Tax and Exceptional Items (3+4-5-6) |
" |
1,228.70 |
1,405.01 |
4,363.04 |
4,189.87 |
5,540.12 |
| 8 |
Exceptional Items |
| |
a) Employee Separation Compensation |
" |
(28.98) |
(30.98) |
(88.13) |
(82.34) |
(120.57) |
| |
b) Profit /(loss) on Sale of Long Term Investments |
" |
15.06 |
23.69 |
15.06 |
23.69 |
23.69 |
| |
c) Provision for contingencies |
" |
- |
0.58 |
- |
0.25 |
(0.80) |
| |
d) Total of Exceptional items( 8a to 8c) |
" |
(13.92) |
(6.71) |
(73.07) |
(58.40) |
(97.68) |
| 9 |
Profit before Tax ( 7-8d) |
" |
1,214.78 |
1,398.30 |
4,289.97 |
4,131.47 |
5,442.44 |
| 10 |
Provision for Current Taxation |
" |
374.72 |
492.51 |
1,329.27 |
1,460.34 |
1,875.09 |
| 11 |
Provision for Deferred Taxation |
" |
8.53 |
(1.89) |
22.32 |
21.24 |
(3.85) |
| 12 |
Provision for Fringe Benefits Tax |
" |
5.78 |
- |
16.72 |
- |
- |
| 13 |
Net Profit (+) / Loss (-) (9-10-11-12) |
" |
825.75 |
907.68 |
2,921.66 |
2,649.89 |
3,571.20 |
| 14 |
Add - Share of Profits of Associates |
" |
0.69 |
17.16 |
18.27 |
49.67 |
58.02 |
| 15 |
Less - Minority Interest in consolidated Profit/(Loss) |
" |
1.68 |
6.85 |
18.53 |
16.80 |
25.96 |
| 16 |
Profits after Minority Interest and share of Profits of Associates (13 +14-15) |
" |
824.76 |
917.99 |
2,921.40 |
2,682.76 |
3,603.26 |
| 17 |
Paid-up Equity Share Capital ( Face Value : Rs 10 per Share ) |
" |
553.00 |
552.27 |
553.00 |
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 |
14.92 |
16.63 |
52.85 |
48.59 |
65.27 |
| NOTES: 1. Segment Revenue, Results and Capital
Employed
|
| (Rs. Crores) |
| Particulars |
Quarter ended on 31.12.2005 (Audited) |
Corresponding Quarter ended on 31.12.2004 in the
Previous Year
(Unaudited) |
Nine months ended on 31.12.2005 (Audited) |
Corresponding Nine months ended on 31.12.2004 in the
Previous Year
(Unaudited) |
Previous
Financial Year ended on 31.03.2005 (Audited) |
| Revenue by Business Segment: |
| Steel business |
4,423.53 |
3,407.29 |
13,220.30 |
9,796.48 |
13,919.26 |
| Ferro Alloys and Minerals |
336.92 |
393.90 |
1,017.82 |
1,087.48 |
1,449.64 |
| Others |
539.03 |
545.95 |
1,545.51 |
1,491.28 |
2,081.18 |
| Total |
5,299.48 |
4,347.14 |
15,783.63 |
12,375.24 |
17,450.08 |
| Less: Inter segment revenue |
381.47 |
347.94 |
1,090.55 |
1,009.35 |
1,451.47 |
| Net sales/ income from operations |
4,918.01 |
3,999.20 |
14,693.08 |
11,365.89 |
15,998.61 |
| Segment results before Interest, Exceptional
items and Tax: |
| Steel business |
1,064.71 |
1,231.85 |
3,792.70 |
3,643.10 |
4,802.84 |
| Ferro Alloys and Minerals |
145.81 |
207.28 |
438.43 |
536.24 |
700.89 |
| Others |
39.33 |
37.76 |
133.53 |
147.11 |
194.90 |
| Total |
1,249.85 |
1,476.89 |
4,364.66 |
4,326.45 |
5,698.63 |
| Less : |
| Interest |
46.51 |
82.90 |
126.84 |
183.66 |
198.13 |
| Other unallocable
(income)/expenditure |
(22.60) |
(14.77) |
(139.87) |
(66.35) |
(72.27) |
| Inter segment eliminations |
(2.76) |
3.75 |
14.65 |
19.27 |
32.65 |
| Profit before Tax and Exceptional items |
1,228.70 |
1,405.01 |
4,363.04 |
4,189.87 |
5,540.12 |
| Exceptional items : |
| Employee Separation Compensation |
(28.98) |
(30.98) |
(88.13) |
(82.34) |
(120.57) |
| Provision for Contingencies |
- |
0.58 |
- |
0.25 |
(0.80) |
| Profit on Sale of Long Term Investments |
15.06 |
23.69 |
15.06 |
23.69 |
23.69 |
| Profit before Tax |
1,214.78 |
1,398.30 |
4,289.97 |
4,131.47 |
5,442.44 |
| Less: Taxes |
389.03 |
490.62 |
1,368.31 |
1,481.58 |
1,871.24 |
| Profit after Tax |
825.75 |
907.68 |
2,921.66 |
2,649.89 |
3,571.20 |
| Segment Capital Employed: |
| Steel business |
11,827.01 |
8,987.80 |
11,827.01 |
8,987.80 |
10,656.36 |
| Ferro Alloys and Minerals |
261.95 |
213.18 |
261.95 |
213.18 |
200.80 |
| Others |
968.12 |
608.69 |
968.12 |
608.69 |
672.63 |
| Total |
13,057.08 |
9,809.67 |
13,057.08 |
9,809.67 |
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 / nine months ended on 31st December, 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 and approved by the Board in its meeting of date.
TATA STEEL LIMITED
| Mumbai, 23rd January, 2006 |
Sd/- Ratan N. Tata
Chairman |
|
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