12th Aug 2010 15:17
TATA STEEL LTD
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI - 400 001
Financial Results for the Quarter ended on 30th June 2010
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Rs.Crores |
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Consolidated results |
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Standalone results |
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Quarter ended on 30-06-2010 |
Quarter ended on 30-06-2009 |
Financial Year ended on 31-03-2010 |
Particulars |
Quarter ended on 30-06-2010 |
Quarter ended on 30-06-2009 |
Financial Year ended on 31-03-2010 |
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Unaudited |
Unaudited |
Audited |
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Audited |
Audited |
Audited |
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27,010.06 |
23,187.68 |
101,757.77 |
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1 |
a) |
Net Sales / Income from Operations |
6,471.27 |
5,554.02 |
24,716.82 |
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184.74 |
104.63 |
635.35 |
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b) |
Other Operating Income |
80.21 |
61.53 |
305.16 |
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27,194.80 |
23,292.31 |
102,393.12 |
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2 |
Total Operating Income [ 1(a) + 1(b) ] |
6,551.48 |
5,615.55 |
25,021.98 |
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3 |
Total Expenditure |
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(910.10) |
1,324.95 |
660.04 |
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a) |
(Increase) / decrease in stock-in-trade |
(340.09) |
45.59 |
134.97 |
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3,463.89 |
3,498.59 |
13,087.04 |
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b) |
Purchases of finished, semi-finished steel & other products |
36.39 |
27.82 |
169.08 |
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7,794.33 |
7,062.10 |
31,004.49 |
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c) |
Raw materials consumed |
1,268.56 |
1,532.17 |
5,494.74 |
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3,777.09 |
3,962.53 |
16,462.99 |
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d) |
Staff Cost |
578.14 |
506.21 |
2,361.48 |
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971.30 |
965.07 |
4,051.73 |
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e) |
Purchase of Power |
354.85 |
328.37 |
1,268.28 |
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1,586.06 |
1,159.89 |
5,549.13 |
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f) |
Freight and handling |
352.24 |
315.23 |
1,357.27 |
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1,043.94 |
1,088.98 |
4,491.73 |
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g) |
Depreciation |
280.20 |
253.17 |
1,083.18 |
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6,079.64 |
5,349.04 |
23,535.04 |
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h) |
Other Expenditure |
1,384.94 |
1,117.94 |
5,284.07 |
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23,806.15 |
24,411.15 |
98,842.19 |
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i) |
Total Expenditure (3a to 3h) |
3,915.23 |
4,126.50 |
17,153.07 |
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3,388.65 |
(1,118.84) |
3,550.93 |
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4 |
Profit / (Loss) from Operations before Other Income, Net Finance Charges & Exceptional Items & Tax [2 - 3] |
2,636.25 |
1,489.05 |
7,868.91 |
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59.47 |
203.90 |
1,185.85 |
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5 |
Other Income |
48.43 |
46.34 |
853.79 |
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3,448.12 |
(914.94) |
4,736.78 |
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6 |
Profit / (Loss) from Operations before Net Finance Charges, Exceptional Items & Tax [4 + 5] |
2,684.68 |
1,535.39 |
8,722.70 |
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597.59 |
881.89 |
3,022.06 |
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7 |
Net Finance Charges |
327.68 |
342.16 |
1,508.40 |
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2,850.53 |
(1,796.83) |
1,714.72 |
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8 |
Profit / (Loss) before Exceptional Items & Tax [6 - 7] |
2,357.00 |
1,193.23 |
7,214.30 |
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9 |
Exceptional Items |
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(59.88) |
(218.76) |
(1,683.72) |
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Restructuring costs |
- |
- |
- |
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2,790.65 |
(2,015.59) |
31.00 |
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10 |
Profit / (Loss) before Tax [ 8 + 9 ] |
2,357.00 |
1,193.23 |
7,214.30 |
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1,000.46 |
222.94 |
2,151.84 |
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11 |
Tax Expense |
777.61 |
403.40 |
2,167.50 |
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1,790.19 |
(2,238.53) |
(2,120.84) |
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12 |
Net Profit (+) / Loss (-) [10 - 11] |
1,579.39 |
789.83 |
5,046.80 |
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(6.49) |
21.21 |
(15.24) |
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13 |
Minority Interest |
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41.56 |
8.64 |
126.86 |
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14 |
Share of profit of associates |
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1,825.26 |
(2,208.68) |
(2,009.22) |
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15 |
Profit / (Loss) after Taxes, Minority Interest and Share of profit of Associates [ 12 + 13 + 14 ] |
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886.74 |
730.12 |
886.74 |
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16 |
Paid-up Equity Share Capital [Face value Rs.10 per share] |
887.41 |
730.79 |
887.41 |
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21,927.15 |
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17 |
Reserves excluding revaluation reserves |
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36,074.39 |
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20.59 |
(30.70) |
(24.92) |
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18 |
Basic Earnings per share (not annualised) - in Rupees (after Exceptional items) |
17.80 |
10.37 |
60.26 |
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19.77 |
(30.70) |
(24.92) |
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19 |
Diluted Earnings per share (not annualised) - in Rupees (after Exceptional items) |
17.17 |
9.61 |
57.31 |
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20 |
Aggregate of public shareholding |
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Number of shares |
605,883,935 |
482,562,747 |
605,162,261 |
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% of shareholding |
68.55% |
66.05% |
68.53% |
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21 |
Promoters and promoter group shareholding |
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a) |
Pledged / encumbered |
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- Number of shares |
- |
98,900,000 |
97,400,000 |
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- % of shares to total share holding of promoter & promoter group |
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39.87% |
35.06% |
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- % of shares to total share capital of the company |
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13.54% |
10.98% |
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b) |
Non-encumbered |
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- Number of shares |
277,930,680 |
149,125,857 |
180,433,893 |
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- % of shares to total share holding of promoter & promoter group |
100.00% |
60.13% |
64.94% |
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- % of shares to total sharecapital of the company |
31.33% |
20.41% |
20.34% |
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Segment Revenue, Results and Capital Employed |
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Rs.Crores |
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Consolidated results |
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Standalone results |
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Quarter ended on 30-06-2010 |
Quarter ended on 30-06-2009 |
Financial Year ended on 31-03-2010 |
Particulars |
Quarter ended on 30-06-2010 |
Quarter ended on 30-06-2009 |
Financial Year ended on 31-03-2010 |
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Unaudited |
Unaudited |
Audited |
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Audited |
Audited |
Audited |
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Revenue by Business Segment: |
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29,490.88 |
23,727.09 |
107,879.37 |
Steel business |
5,997.61 |
5,205.84 |
22,962.55 |
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Ferro Alloys and Minerals |
534.55 |
357.32 |
1,854.67 |
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2,870.75 |
2,777.49 |
10,877.13 |
Others |
439.23 |
341.39 |
1,573.29 |
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325.68 |
339.13 |
1,429.07 |
Unallocated |
- |
- |
- |
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32,687.31 |
26,843.71 |
120,185.57 |
Total |
6,971.39 |
5,904.55 |
26,390.51 |
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5,492.51 |
3,551.40 |
17,792.45 |
Less: Inter segment revenue |
419.91 |
289.00 |
1,368.53 |
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27,194.80 |
23,292.31 |
102,393.12 |
Net sales/ income from operations |
6,551.48 |
5,615.55 |
25,021.98 |
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Segment results before net finance charges, exceptional items and tax: |
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3,282.43 |
(957.34) |
4,082.36 |
Steel business |
2,467.40 |
1,579.51 |
7,941.92 |
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Ferro Alloys and Minerals |
203.44 |
16.12 |
340.44 |
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327.90 |
149.25 |
1,031.34 |
Others |
37.34 |
24.56 |
113.69 |
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(73.05) |
(91.35) |
(14.30) |
Unallocated income / (expenditure) |
(23.50) |
(84.80) |
326.65 |
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89.16 |
15.50 |
362.62 |
Less: Inter Segment Eliminations |
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- |
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3,448.12 |
(914.94) |
4,736.78 |
Total Segment results before net finance charges, exceptional items and tax: |
2,684.68 |
1,535.39 |
8,722.70 |
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597.59 |
881.89 |
3,022.06 |
Less: Net Finance Charges |
327.68 |
342.16 |
1,508.40 |
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2,850.53 |
(1,796.83) |
1,714.72 |
Profit / (Loss) before exceptional items & tax |
2,357.00 |
1,193.23 |
7,214.30 |
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Exceptional Items: |
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(59.88) |
(218.76) |
(1,683.72) |
Restructuring costs |
- |
- |
- |
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2,790.65 |
(2,015.59) |
31.00 |
Profit / (Loss) before tax |
2,357.00 |
1,193.23 |
7,214.30 |
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1,000.46 |
222.94 |
2,151.84 |
Less: Tax Expense |
777.61 |
403.40 |
2,167.50 |
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1,790.19 |
(2,238.53) |
(2,120.84) |
Net Profit (+) / Loss (-) |
1,579.39 |
789.83 |
5,046.80 |
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Segment Capital Employed: |
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51,578.52 |
52,319.39 |
48,174.30 |
Steel business |
14,347.90 |
12,240.18 |
13,099.51 |
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Ferro Alloys and Minerals |
324.69 |
427.59 |
188.09 |
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4,597.97 |
4,122.87 |
4,141.75 |
Others |
245.32 |
258.86 |
223.79 |
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7,727.21 |
6,596.23 |
7,717.58 |
Unallocated |
4,844.21 |
1,484.72 |
3,870.32 |
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(62.78) |
(36.47) |
(43.95) |
Inter Segment Eliminations |
- |
- |
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63,840.92 |
63,002.02 |
59,989.68 |
Total |
19,762.12 |
14,411.35 |
17,381.71 |
Notes:
1. 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 permitted by Accounting Standard 21. This treatment is consistent with the accounting principles followed by Tata Steel Europe and earlier by Corus Group plc under IFRS. 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, 2010 would have been lower by Rs.694.56 crores (the consolidated loss after taxes, minority interest and share of profit of associates for the quarter ended June 30, 2009 would have been higher by Rs.2,147.09 crores)
2. 1,50,00,000 ordinary shares of Rs.10 each, at a premium of Rs.584 per share, and 1,20,00,000 warrants, at Rs.594 per warrant, have been allotted to Tata Sons Ltd on July 23, 2010.
3. During the current quarter, the investment in New Millennium Capital Corporation has crossed the threshold limit of 20% and accordingly it has become an associate.
4. Information on investor complaints pursuant to clause 41 of the listing agreement for the quarter ended June 30, 2010:
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Opening Balance |
Received during the quarter |
Resolved during the quarter |
Closing Balance |
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6 |
100 |
97 |
9 |
5. Figures for the previous period have been regrouped and reclassified to conform to the classification of the current period, wherever necessary.
6. The consolidated financial results have been subjected to limited review and the stand-alone financial results have been audited by the statutory auditors.
7. 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 12, 2010
Related Shares:
Tata Steel