| Rs. Crores |
| |
Tata Steel Standalone |
Tata Steel Group |
| 2012-13 |
2011-12 |
2012-13 |
2011-12 |
| Income from Operations |
38,199.43 |
33,933.46 |
134,711.54 |
132,899.70 |
Total expenditure before finance cost, depreciation
(net of expenditure transferred to capital) |
27,073.19 |
22,396.69 |
122,390.33 |
120,482.91 |
| Operating Profit |
11,126.24 |
11,536.77 |
12,321.21 |
12,416.79 |
| Add: Other income |
902.04 |
886.43 |
479.15 |
1,573.03 |
| Profit before finance cost, depreciation, exceptional items and taxes |
12,028.28 |
12,423.20 |
12,800.36 |
13,989.82 |
| Less: Finance costs |
1,876.77 |
1,925.42 |
3,968.11 |
4,250.11 |
| Profit before depreciation, exceptional items and taxes |
10,151.51 |
10,497.78 |
8,832.25 |
9,739.71 |
| Less: Depreciation |
1,640.38 |
1,151.44 |
5,575.32 |
4,516.65 |
| Profit before exceptional items and taxes |
8,511.13 |
9,346.34 |
3,256.93 |
5,223.06 |
| Add/(Less): Profit on sale of non-current Investments |
12.33 |
511.01 |
966.03 |
3,361.92 |
| Add/(Less): Provision for diminution in the value of investment/doubtful advances |
(686.86) |
– |
– |
– |
| Add/(Less): Provision for impairment of non-current assets |
– |
– |
(8,355.91) |
– |
| Profit/(Loss) before taxes |
7,836.60 |
9,857.35 |
(4,132.95) |
8,584.98 |
| Less: Provision for current taxation |
1,770.54 |
3,115.11 |
2,325.40 |
3,517.65 |
| Less: MAT credit |
(399.84) |
– |
(410.12) |
(5.41) |
| Less: Provision for deferred taxation |
1,402.93 |
45.82 |
1,314.16 |
124.22 |
| Profit/(Loss) after taxes |
5,062.97 |
6,696.42 |
(7,362.39) |
4,948.52 |
| Add: Share of profit of Associates |
– |
– |
90.31 |
268.11 |
| Less: Minority Interest |
– |
– |
(214.46) |
(173.14) |
| Profit/(Loss) after minority interest and share of profit of associates |
– |
– |
(7,057.62) |
5,389.77 |
| Distribution on hybrid perpetual securities |
266.21 |
256.54 |
266.21 |
256.54 |
| Tax effect on distribution of hybrid perpetual securities |
(86.37) |
(83.24) |
(86.37) |
(83.24) |
| |
4,883.13 |
6,523.12 |
(7,237.46) |
5,216.47 |
| Add: Balance brought forward from the previous year |
21,145.04 |
16,639.46 |
16,125.42 |
12,959.16 |
| Add: Profit and Loss account balance relating to acquisitions |
– |
(0.87) |
– |
– |
| Balance |
26,028.17 |
23,161.71 |
8,887.96 |
18,175.63 |
| Which the Directors have apportioned as under to: - |
|
|
|
|
| (i) |
Dividend on Preference Shares |
– |
– |
0.21 |
0.21 |
| (ii) |
Proposed dividend on Ordinary Shares |
776.97 |
1,165.46 |
776.97 |
1,165.46 |
| (iii) |
Tax on Dividends |
128.73 |
181.57 |
226.41 |
185.71 |
| (iv) |
General Reserve |
506.30 |
669.64 |
665.56 |
680.51 |
| (v) |
Statutory Reserve |
– |
– |
8.29 |
– |
| (vi) |
Special Reserve |
– |
– |
161.28 |
11.77 |
| (vii) |
Capital Redemption Reserve |
– |
– |
9.86 |
6.55 |
| Total |
1,412.00 |
2,016.67 |
1,848.58 |
2,050.21 |
| Balance to be carried forward |
24,616.17 |
21,145.04 |
7,039.38 |
16,125.42 |
|
Directors' Report