13th Aug 2012 14:49
Standalone Financial Results for the Quarter ended on 30th June 2012 | ||||||||
PART I | `Crores | |||||||
Particulars | Quarterended on30.06.2012 | Quarterended on31.03.2012 | Quarterended on30.06.2011 | Financial Year ended on 31.03.2012 | ||||
Audited | Audited | Audited | Audited | |||||
1 | Income from operations | |||||||
a) | Net sales / income from operations (net of excise duty) | 8,820.19 | 9,375.91 | 7,792.20 | 33,614.88 | |||
b) | Other operating income | 87.84 | 103.52 | 68.05 | 318.58 | |||
Total income from operations (net) [ 1(a) + 1(b) ] | 8,908.03 | 9,479.43 | 7,860.25 | 33,933.46 | ||||
2 | Expenses | |||||||
a) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | (496.56) | 187.18 | (254.74) | (220.72) | |||
b) | Purchases of finished, semi-finished steel & other products | 77.03 | 64.24 | 37.34 | 209.52 | |||
c) | Raw materials consumed | 2,422.62 | 2,147.35 | 1,790.25 | 8,014.37 | |||
d) | Employee benefits expense | 859.13 | 936.33 | 687.00 | 3,047.26 | |||
e) | Purchase of power | 547.78 | 460.28 | 459.33 | 1,803.72 | |||
f) | Freight and handling charges | 481.88 | 463.63 | 406.43 | 1,703.98 | |||
g) | Depreciation and amortisation expense | 354.39 | 289.96 | 285.30 | 1,151.44 | |||
h) | Other expenses | 2,236.33 | 2,228.81 | 1,619.83 | 7,838.56 | |||
Total expenses (2a to 2h) | 6,482.60 | 6,777.78 | 5,030.74 | 23,548.13 | ||||
3 | Profit / (Loss) from operations before other income, finance costs, exceptional items & Tax [1 - 2] | 2,425.43 | 2,701.65 | 2,829.51 | 10,385.33 | |||
4 | Other income | 151.89 | 182.93 | 256.36 | 886.43 | |||
5 | Profit / (Loss) from operations before finance costs, exceptional items & tax [3 + 4] | 2,577.32 | 2,884.58 | 3,085.87 | 11,271.76 | |||
6 | Finance costs | 454.44 | 513.96 | 453.65 | 1,925.42 | |||
7 | Profit / (Loss) before exceptional items & tax [5 - 6] | 2,122.88 | 2,370.62 | 2,632.22 | 9,346.34 | |||
8 | Exceptional items : | |||||||
a) | Profit on sale of non current investments | - | - | 511.01 | 511.01 | |||
9 | Profit / (Loss) before tax [ 7 + 8 ] | 2,122.88 | 2,370.62 | 3,143.23 | 9,857.35 | |||
10 | Tax expense | 766.32 | 810.11 | 923.80 | 3,160.93 | |||
11 | Net Profit / (Loss) for the period [9 - 10] | 1,356.56 | 1,560.51 | 2,219.43 | 6,696.42 | |||
12 | Paid-up equity share capital[Face value `10 per share] | 971.41 | 971.41 | 959.41 | 971.41 | |||
13 | Reserves excluding revaluation reserves | 51,649.95 | ||||||
14 | Basic earnings per share (not annualised) - in Rupees(after exceptional items) | 13.51 | 15.65 | 22.74 | 67.84 | |||
15 | Diluted earnings per share (not annualised) - in Rupees(after exceptional items) | 13.51 | 15.45 | 21.74 | 66.62 | |||
PART II | |||||||||||
Select information for the Quarter ended on 30th June 2012 |
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Quarterended on30.06.2012 | Quarterended on31.03.2012 | Quarterended on30.06.2011 | Financial Year ended on 31.03.2012 |
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A | Particulars of Shareholding |
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1 | Aggregate of public shareholding |
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Number of shares | 649,564,258 | 648,608,999 | 641,730,802 | 648,608,999 |
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% of shareholding | 68.08% | 68.05% | 68.61% | 68.05% |
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2 | Promoters and promoter group shareholding |
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a) | Pledged / encumbered |
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- Number of shares | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 |
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- % of shares to total share holding of promoter & promoter group | 3.28% | 3.28% | 3.41% | 3.28% |
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- % of shares to total share capital of the company | 1.03% | 1.03% | 1.04% | 1.03% |
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b) | Non-encumbered |
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- Number of shares | 294,514,362 | 294,514,362 | 283,549,520 | 294,514,362 |
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- % of shares to total share holding of promoter & promoter group | 96.72% | 96.72% | 96.59% | 96.72% |
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- % of shares to total share capital of the company | 30.32% | 30.32% | 29.56% | 30.32% |
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Particulars | Quarterended on 30.06.2012 |
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B | Investor complaints |
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Pending at the beginning of the Quarter | 7 |
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Received during the quarter | 47 |
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Disposed off during the quarter | 49 |
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Remaining unresolved at the end of the quarter | 5 |
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Standalone Segment Revenue, Results and Capital Employed | ||||
`Crores | ||||
Particulars | Quarterended on30.06.2012 | Quarterended on31.03.2012 | Quarterended on30.06.2011 | Financial Yearended on 31.03.2012 |
Audited | Audited | Audited | Audited | |
Revenue by Business Segment: | ||||
Steel business | 8,193.20 | 8,681.47 | 7,301.00 | 31,307.93 |
Ferro Alloys and Minerals | 711.60 | 720.16 | 536.84 | 2,473.98 |
Others | 494.93 | 537.45 | 497.85 | 2,002.42 |
Total | 9,399.73 | 9,939.08 | 8,335.69 | 35,784.33 |
Less: Inter segment revenue | 491.70 | 459.65 | 475.44 | 1,850.87 |
Net sales / income from operations | 8,908.03 | 9,479.43 | 7,860.25 | 33,933.46 |
Segment results before finance costs, exceptional items and tax: | ||||
Steel business | 2,428.62 | 2,810.33 | 2,691.25 | 10,276.29 |
Ferro Alloys and Minerals | 186.66 | 129.19 | 153.97 | 530.45 |
Others | 12.72 | 18.96 | 21.24 | 63.61 |
Unallocated income / (expenditure) | (50.68) | (73.90) | 219.41 | 401.41 |
Total Segment results before finance costs, exceptional items and tax | 2,577.32 | 2,884.58 | 3,085.87 | 11,271.76 |
Less: Finance costs | 454.44 | 513.96 | 453.65 | 1,925.42 |
Profit / (Loss) before exceptional items & tax | 2,122.88 | 2,370.62 | 2,632.22 | 9,346.34 |
Exceptional items: | ||||
Profit on sale of non current investments | - | - | 511.01 | 511.01 |
Profit / (Loss) before tax | 2,122.88 | 2,370.62 | 3,143.23 | 9,857.35 |
Less: Tax expense | 766.32 | 810.11 | 923.80 | 3,160.93 |
Net Profit / (Loss) | 1,356.56 | 1,560.51 | 2,219.43 | 6,696.42 |
Segment Capital Employed: | ||||
Steel business | 27,892.47 | 26,147.62 | 16,548.97 | 26,147.62 |
Ferro Alloys and Minerals | 267.36 | 195.43 | (19.51) | 195.43 |
Others | 260.53 | 243.39 | 217.04 | 243.39 |
Unallocated | 1,373.72 | 4,508.89 | 8,544.67 | 4,508.89 |
Total | 29,794.08 | 31,095.33 | 25,291.17 | 31,095.33 |
Consolidated Financial Results for the Quarter ended on 30th June 2012 | ||||||||
PART I | `Crores | |||||||
Particulars | Quarterended on30.06.2012 | Quarterended on31.03.2012 | Quarterended on30.06.2011 | Financial Yearended on 31.03.2012 | ||||
Unaudited | Unaudited | Unaudited | Audited | |||||
1 | Income from operations | |||||||
a) | Net sales / income from operations (net of excise duty) | 33,547.73 | 33,860.08 | 32,925.68 | 132,257.36 | |||
b) | Other operating income | 273.47 | 138.49 | 74.49 | 642.34 | |||
Total income from operations (net) [ 1(a) + 1(b) ] | 33,821.20 | 33,998.57 | 33,000.17 | 132,899.70 | ||||
2 | Expenses | |||||||
a) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | (2,673.01) | 911.07 | (2,391.44) | (785.93) | |||
b) | Purchases of finished, semi-finished steel & other products | 6,138.14 | 5,428.51 | 6,058.09 | 21,073.43 | |||
c) | Raw materials consumed | 11,584.64 | 10,224.90 | 11,520.23 | 45,457.54 | |||
d) | Employee benefits expense | 4,782.48 | 4,722.10 | 4,231.59 | 17,228.64 | |||
e) | Purchase of power | 1,390.61 | 1,274.34 | 1,209.29 | 4,915.45 | |||
f) | Freight and handling charges | 1,735.81 | 1,761.09 | 1,617.01 | 6,659.54 | |||
g) | Depreciation and amortisation expense | 1,307.98 | 1,093.07 | 1,150.79 | 4,516.65 | |||
h) | Other expenses | 7,459.25 | 6,497.73 | 6,298.17 | 25,934.24 | |||
Total expenses (2a to 2h) | 31,725.90 | 31,912.81 | 29,693.73 | 124,999.56 | ||||
3 | Profit / (Loss) from operations before other income, finance costs, exceptional items & tax [1 - 2] | 2,095.30 | 2,085.76 | 3,306.44 | 7,900.14 | |||
4 | Other income | 289.38 | 222.02 | 761.25 | 1,573.03 | |||
5 | Profit / (Loss) from operations before finance costs, exceptional items & tax [3 + 4] | 2,384.68 | 2,307.78 | 4,067.69 | 9,473.17 | |||
6 | Finance costs | 969.01 | 1,128.00 | 1,012.95 | 4,250.11 | |||
7 | Profit / (Loss) before exceptional items & tax [5 - 6] | 1,415.67 | 1,179.78 | 3,054.74 | 5,223.06 | |||
8 | Exceptional items : | |||||||
a) | Profit on sale of non current investments | - | - | 3,361.92 | 3,361.92 | |||
9 | Profit / (Loss) before tax [ 7 + 8 ] | 1,415.67 | 1,179.78 | 6,416.66 | 8,584.98 | |||
10 | Tax expense | 898.63 | 976.60 | 1,122.99 | 3,636.46 | |||
11 | Net Profit / (Loss) for the period [9 - 10] | 517.04 | 203.18 | 5,293.67 | 4,948.52 | |||
12 | Minority interest | 39.89 | 30.10 | 24.81 | 173.14 | |||
13 | Share of profit / (loss) of associates | 40.95 | 200.18 | 28.07 | 268.11 | |||
14 | Net Profit / (Loss) after taxes, minority interest and share of profit /(loss) of associates [ 11 + 12 + 13 ] | 597.88 | 433.46 | 5,346.55 | 5,389.77 | |||
15 | Paid-up equity share capital[Face value `10 per share] | 971.41 | 971.41 | 958.74 | 971.41 | |||
16 | Reserves excluding revaluation reserves | 42,049.71 | ||||||
17 | Basic earnings per share (not annualised) - in Rupees(after exceptional items) | 5.69 | 4.02 | 55.38 | 54.28 | |||
18 | Diluted earnings per share (not annualised) - in Rupees(after exceptional items) | 5.69 | 4.02 | 52.36 | 53.63 | |||
Consolidated Segment Revenue, Results and Capital Employed | ||||
`Crores | ||||
Particulars | Quarterended on30.06.2012 | Quarterended on31.03.2012 | Quarterended on30.06.2011 | Financial Yearended on 31.03.2012 |
Unaudited | Unaudited | Unaudited | Audited | |
Revenue by Business Segment: | ||||
Steel business | 32,400.89 | 32,272.73 | 31,698.78 | 127,242.72 |
Others | 3,660.69 | 3,866.27 | 3,334.07 | 13,496.58 |
Unallocated | 238.59 | 396.97 | 422.77 | 1,663.82 |
Total | 36,300.17 | 36,535.97 | 35,455.62 | 142,403.12 |
Less: Inter segment revenue | 2,478.97 | 2,537.40 | 2,455.45 | 9,503.42 |
Net sales / income from operations | 33,821.20 | 33,998.57 | 33,000.17 | 132,899.70 |
Segment results before finance costs, exceptional items and tax: | ||||
Steel business | 2,718.07 | 2,703.38 | 3,620.23 | 9,575.83 |
Others | 197.82 | 70.79 | 91.73 | 102.21 |
Unallocated income / (expenditure) | 147.88 | 2,356.28 | 870.09 | 4,431.65 |
Less: Inter segment eliminations | 679.09 | 2,822.67 | 514.36 | 4,636.52 |
Total Segment results before finance costs, exceptional items and tax | 2,384.68 | 2,307.78 | 4,067.69 | 9,473.17 |
Less: Finance costs | 969.01 | 1,128.00 | 1,012.95 | 4,250.11 |
Profit / (Loss) before exceptional items & tax | 1,415.67 | 1,179.78 | 3,054.74 | 5,223.06 |
Exceptional items: | ||||
Profit on sale of non current investments | - | - | 3,361.92 | 3,361.92 |
Profit / (Loss) before tax | 1,415.67 | 1,179.78 | 6,416.66 | 8,584.98 |
Less: Tax expense | 898.63 | 976.60 | 1,122.99 | 3,636.46 |
Net Profit / (Loss) | 517.04 | 203.18 | 5,293.67 | 4,948.52 |
Segment Capital Employed: | ||||
Steel business | 83,920.25 | 77,632.32 | 66,847.73 | 77,632.32 |
Others | 4,935.92 | 4,263.56 | 4,555.48 | 4,263.56 |
Unallocated | 1,579.34 | 6,682.53 | 14,408.50 | 6,682.53 |
Inter segment eliminations | (545.45) | (441.49) | (80.10) | (441.49) |
Total | 89,890.06 | 88,136.92 | 85,731.61 | 88,136.92 |
Notes:
1. During the current quarter, the company has undertaken two voluntary open offers for acquisition of (i) up to 14,653,470 equity shares from the equity shareholders of The Tinplate Company of India Limited (TCIL), constituting 14% of the equity share capital of TCIL, at `60 per equity share; (ii) and up to 1,734,040 equity shares from the equity shareholders of Tata Sponge Iron Limited (TSIL), constituting 11.26% of the equity share capital of TSIL, at `375 per equity share. These voluntary open offers have been undertaken by the Company pursuant to and in compliance with Regulation 6(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. For further details in relation to the voluntary open offers to the equity shareholders of TCIL and TSIL, please refer to the letters of offer dated July 25, 2012 and July 16, 2012, respectively, available on the website of the Securities and Exchange Board of India, www.sebi.gov.in.
2. The Company has on April 23, 2012 issued Unsecured Redeemable Non Convertible Debentures of face value of`1,500 crores at a discount of 15% to face value with a coupon of 2% per annum and a YTM of 9.8% per annum.
3. The actuarial gains and losses on funds for employee benefits (pension plans) of Tata Steel Europe Limited for the period from April 1, 2008 have been accounted in "Reserves and Surplus" in the consolidated financial statements in accordance with IFRS principles and as permitted by Accounting Standard 21. Had the Company recognised changes in actuarial valuations of pension plans of Tata Steel Europe in the profit and loss account, the consolidated profit after taxes, minority interest and share of profit of associates for the quarter ended June 30, 2012 would have been lower by `1,439.69 crores (lower by `77.99 crores for the quarter ended June 30, 2011).
4. Figures for the quarter ended March 31, 2012 represent the difference between the audited figures in respect of the full financial year and the published figures of nine months ended December 31, 2011.
5. Figures for the previous periods have been regrouped and reclassified to conform to the classification of the current period, wherever necessary.
6. 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
Ratan N. Tata
Chairman
Mumbai: August 13, 2012
Related Shares:
Tata Steel