29th Jul 2009 11:01
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TATA STEEL LTD |
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Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI - 400 001 |
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Audited Financial Results for the Quarter ended on 30th June 2009 |
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Particulars |
Quarter ended on 30-06-2009 |
Quarter ended on 30-06-2008 |
Financial Year ended on 31-03-2009 |
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(A) |
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1 |
Steel Production |
Tonnes |
1,542,380 |
1,186,873 |
5,374,939 |
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2 |
Steel Sales |
" |
1,417,836 |
1,159,495 |
5,231,605 |
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3 |
Export turnover (F.O.B. Value) |
Rs.Crores |
334.95 |
868.13 |
3,308.76 |
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USD Mn |
68.65 |
208.83 |
732.50 |
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(B) |
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1 |
a) |
Net Sales / Income from Operations |
Rs.Crores |
5,554.02 |
6,087.23 |
24,024.45 |
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b) |
Other Operating Income |
" |
61.53 |
65.69 |
291.32 |
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2 |
Total Income [ 1(a) + 1(b) ] |
" |
5,615.55 |
6,152.92 |
24,315.77 |
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3 |
Total Expenditure |
" |
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a) |
(Increase) / decrease in stock-in-trade |
" |
45.59 |
(201.80) |
(289.27) |
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b) |
Purchases of finished, semi-finished steel & other products |
" |
27.82 |
116.46 |
358.87 |
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c) |
Raw materials consumed |
" |
1,532.17 |
1,004.31 |
5,709.91 |
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d) |
Staff Cost |
" |
506.21 |
471.87 |
2,305.81 |
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e) |
Purchase of Power |
" |
328.37 |
261.92 |
1,091.37 |
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f) |
Freight and handling |
" |
315.23 |
304.10 |
1,251.23 |
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g) |
Depreciation |
" |
253.17 |
216.80 |
973.40 |
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h) |
Other Expenditure |
" |
1,117.94 |
1,171.48 |
4,754.42 |
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i) |
Total Expenditure (3a to 3h) |
" |
4,126.50 |
3,345.14 |
16,155.74 |
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4 |
Profit / (Loss) from Operations before Other Income, Net Finance Charges & Exceptional Items & Tax (2 - 3) |
" |
1,489.05 |
2,807.78 |
8,160.03 |
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5 |
Other Income |
" |
46.34 |
12.22 |
308.27 |
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6 |
Profit / (Loss) from Operations before Net Finance Charges, Exceptional Items & Tax (4 + 5) |
" |
1,535.39 |
2,820.00 |
8,468.30 |
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7 |
Net Finance Charges |
" |
342.16 |
241.73 |
1,152.69 |
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8 |
Profit / (Loss) before Exceptional Items & Tax (6 - 7) |
" |
1,193.23 |
2,578.27 |
7,315.61 |
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9 |
Exceptional Items |
" |
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a) |
Exchange Gain / (Loss) |
" |
- |
(303.42) |
- |
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Total Exceptional Items |
" |
- |
(303.42) |
- |
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10 |
Profit / (Loss) before Tax [ 8 + 9 ] |
" |
1,193.23 |
2,274.85 |
7,315.61 |
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11 |
Tax Expense |
" |
403.40 |
786.45 |
2,113.87 |
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12 |
Net Profit (+) / Loss (-) [ 10 - 11] |
" |
789.83 |
1,488.40 |
5,201.74 |
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13 |
Paid-up Equity Share Capital [Face value Rs.10 per share] |
Rs.Crores |
730.79 |
730.78 |
730.79 |
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14 |
Reserves excluding revaluation reserves |
" |
23,972.81 |
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15 |
Basic Earnings per share (not annualised) (after Exceptional items) |
Rupees |
10.37 |
19.94 |
69.45 |
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16 |
Diluted Earnings per share (not annualised) (after Exceptional items) |
" |
9.61 |
18.11 |
61.78 |
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17 |
Aggregate of public shareholding |
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Number of shares |
Nos. |
482,562,747 |
482,587,357 |
482,522,747 |
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% of shareholding |
% |
66.05% |
66.06% |
66.05% |
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18 |
Promoters and promoter group shareholding |
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a) |
Pledged / encumbered |
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- Number of shares |
Nos. |
98,900,000 |
98,900,000 |
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- % of shares to total shareholding of promoter & promoter group |
% |
39.87% |
39.87% |
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- % of shares to total share capital of the company |
% |
13.54% |
13.54% |
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b) |
Non-encumbered |
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- Number of shares |
Nos. |
149,125,857 |
149,165,857 |
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- % of shares to total shareholding of promoter & promoter group |
% |
60.13% |
60.13% |
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- % of shares to total share capital of the company |
% |
20.41% |
20.41% |
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Segment Revenue, Results and Capital Employed |
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Rs.Crores |
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Particulars |
Quarter ended on 30-06-2009 |
Quarter ended on 30-06-2008 |
Financial Year ended on 31-03-2009 |
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Revenue by Business Segment: |
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Steel business |
5,205.84 |
5,301.49 |
21,666.67 |
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Ferro Alloys and Minerals |
357.32 |
828.62 |
2,636.86 |
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Others |
341.39 |
414.27 |
1,566.23 |
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Total |
5,904.55 |
6,544.38 |
25,869.76 |
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Less: Inter segment revenue |
289.00 |
391.46 |
1,553.99 |
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Net sales/ income from operations |
5,615.55 |
6,152.92 |
24,315.77 |
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Segment results before net finance charges, exceptional items and tax: |
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Steel business |
1,579.51 |
2,361.52 |
7,391.31 |
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Ferro Alloys and Minerals |
16.12 |
477.94 |
1,233.94 |
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Others |
24.56 |
36.71 |
(29.54) |
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Unallocated income / (expenditure) |
(84.80) |
(56.17) |
(127.41) |
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Total Segment results before net finance charges, exceptional items and tax: |
1,535.39 |
2,820.00 |
8,468.30 |
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Less: Net Finance Charges |
342.16 |
241.73 |
1,152.69 |
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Profit / (Loss) before exceptional items & tax |
1,193.23 |
2,578.27 |
7,315.61 |
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Exceptional Items: |
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Exchange Gain / (Loss) |
- |
(303.42) |
- |
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Profit / (Loss) before tax |
1,193.23 |
2,274.85 |
7,315.61 |
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Less: Tax Expense |
403.40 |
786.45 |
2,113.87 |
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Net Profit (+) / Loss (-) |
789.83 |
1,488.40 |
5,201.74 |
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Segment Capital Employed: |
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Steel business |
12,240.18 |
11,960.98 |
12,730.41 |
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Ferro Alloys and Minerals |
427.59 |
528.61 |
425.51 |
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Others |
258.86 |
285.78 |
278.67 |
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Unallocated |
1,484.72 |
(94.69) |
2,111.06 |
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Total |
14,411.35 |
12,680.68 |
15,545.65 |
Notes:
1. The above financial results do not include the consolidated financial performance of the Company. The consolidated financial results of the Company including Tata Steel Europe Ltd. (Corus) for the quarter ended June 30, 2009 would be published by the end of August 2009.
2. The Company adopted the Companies (Accounting Standards) Amendment Rules 2009 relating to Accounting Standard 11 during the last quarter of 2008-09. Accordingly, an exchange translation gain of Rs. 17.10 crores has been adjusted to the cost of capital assets during the current quarter and Rs.3.92 crores being amortization of cumulative net loss has been charged to profit & loss account. Had the Company followed the previous practice of recognizing the translation gain / loss in the profit & loss account, the Net Profit for the period ended June 30, 2009 would have been higher by Rs. 277.06 crores.
3. The Board of Directors of Tata Steel has approved on 29th July 2009, the Scheme of amalgamation of Hooghly Met Coke & power Company Limited (a wholly owned subsidiary) with Tata Steel Limited. The amalgamation will be effective from 1st April 2009 subject to receipt of all the approvals.
4. The Company has issued Global Depository Receipts (GDRs) for a gross amount of US$500 million and allotted 65,410,589 GDRs on 24th July 2009, each GDR representing one share at a price of US$ 7.644 per GDR. These GDRs have not been considered for computing diluted earnings per share for the period ended 30th June 2009.
5. Information on investor complaints pursuant to clause 41 of the listing agreement for the quarter ended June 30, 2009:
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Opening Balance |
Received during the quarter |
Resolved during the quarter |
Closing balance |
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6 |
231 |
233 |
4 |
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 reviewed by the Audit Committee in its meeting and were approved by the Board of Directors in its meeting of date.
Tata Steel Limited
Sd/-
Ratan N.Tata
Chairman
Mumbai: July 29, 2009
Related Shares:
Tata Steel