| 
::: Annual Results :::
[
Annual Results Archives ]
TATA STEEL LIMITED
Regd. Office: BOMBAY HOUSE , 24 HOMI MODY STREET ,
MUMBAI 400001
Audited Consolidated Financial Results for the Year
ended on 31st March, 2008
| |
|
|
Financial Year
ended on 31.03.2008 |
Financial Year
ended on 31.03.2007 |
| 1 |
Net Sales/Income from Operations |
Rs. Crores |
131,535.88 |
25,212.38 |
| 2 |
Other Income |
" |
574.21 |
438.07 |
| 3 |
Total Income (1+2) |
" |
132,110.09 |
25,650.45 |
| 4 |
Total Expenditure |
|
|
|
| |
a) (Increase) /decrease in stock in trade |
" |
(890.53) |
(540.22) |
| |
b) Purchases of finished, semi-finished
steel and other products |
" |
26,269.76 |
5,682.43 |
| |
c) Raw Materials consumed |
" |
33,324.55 |
3,488.96 |
| |
d) Staff Cost |
" |
16,678.21 |
1,884.97 |
| |
e) Purchase of Power |
" |
4,929.32 |
1,315.39 |
| |
f) Freight and handling |
" |
6,005.15 |
1,508.37 |
| |
g) Depreciation |
" |
4,136.95 |
1,010.98 |
| |
h) Other Expenditure |
" |
27,226.30 |
4,422.33 |
| |
i) Total Expenditure (4a to 4h) |
" |
117,679.71 |
18,773.21 |
| 5 |
Profit before Interest, Exceptional Items & Tax (3-4) |
" |
14,430.38 |
6,877.24 |
| 6 |
Interest (net) |
" |
4,183.76 |
411.19 |
| 7 |
Exceptional Items |
|
|
|
| |
a) Employee Separation Compensation |
" |
(227.12) |
(153.03) |
| |
b) Contribution For Sports Infrastructure |
" |
(150.00) |
- |
| |
c) Exchange Gain / (Loss) |
" |
594.72 |
- |
| |
d) Actuarial Gain / (Loss) on Funds for Employee Benefits |
" |
5,906.84 |
- |
| |
Total of Exceptional items (7a to 7d) |
" |
6,124.44 |
(153.03) |
| 8 |
Profit before tax(5-6+7) |
" |
16,371.06 |
6,313.02 |
| 9 |
Tax Expense |
" |
4,049.30 |
2,147.41 |
| 10 |
Net Profit (+) / Loss (-)(8-9) |
" |
12,321.76 |
4,165.61 |
| 11 |
Share of Profit of Associates |
" |
168.16 |
79.18 |
| 12 |
Minority Interest |
" |
(139.94) |
(67.52) |
| 13 |
Profit after Minority Interest and share of Profits of Associates (10+11+12) |
" |
12,349.98 |
4,177.27 |
| 14 |
Paid-up Equity Share Capital
(Face Value : Rs 10 per Share) |
" |
730.11 |
580.00 |
| 15 |
Reserves excluding revaluation reserves |
" |
27,971.35 |
13,895.14 |
| 16 |
Basic Earnings per Share( after exceptional items) |
Rupees |
177.18 |
64.66 |
| 17 |
Diluted Earnings per Share( after exceptional items) |
Rupees |
162.96 |
64.66
|
Segment Revenue, Results and Capital Employed
| (Rs. Crores) |
| Particulars |
Financial Year
ended on
31.03.2008 |
Financial Year
ended on
31.03.2007 |
| |
|
|
| Revenue by Business Segment |
|
|
| Steel business |
134,651.74 |
22,637.24 |
| Others |
15,829.33 |
4,627.86 |
| Unallocated |
1,090.44 |
- |
| Total |
151,571.51 |
27,265.10 |
| Less: Inter segment revenue |
20,035.63 |
2,052.72 |
| Net sales/ income from operations |
131,535.88 |
25,212.38 |
| |
|
|
| Segment results before interest, exceptional |
|
|
| items and tax |
|
|
| Steel business |
14,188.83 |
5,991.69 |
| Others |
1,170.70 |
647.50 |
| Unallocated |
(889.86) |
327.52 |
| Total |
14,469.67 |
6,966.71 |
| |
|
|
| Less : Interest |
4,183.76 |
411.19 |
| Inter segment eliminations |
39.29 |
89.47 |
| Profit before Tax and Exceptional items |
10,246.62 |
6,466.05 |
| Exceptional items: |
|
|
| Employee Separation Compensation |
(227.12) |
(153.03) |
| Contribution For Sports Infrastructure |
(150.00) |
- |
| Exchange Gain / (Loss) |
594.72 |
- |
| Actuarial Gain / (Loss) on funds for Employee Benefits |
5,906.84 |
- |
| Profit before Tax |
16,371.06 |
6,313.02 |
| Less: Taxes |
4,049.30 |
2,147.41 |
| Profit after Tax |
12,321.76 |
4,165.61 |
| Segment Capital Employed |
|
|
| Steel business |
54,167.55 |
13,008.63 |
| Others |
4,898.30 |
4,890.26 |
| Unallocated |
11,880.49 |
8,246.13 |
| Inter segment eliminations |
(107.66) |
(751.63) |
| Total |
70,838.68 |
25,393.39 |
Notes:
-
The consolidated financial statements have
been prepared as per the following Accounting Standards:
-
Consolidated Financial Statements (AS-21)
-
Accounting for Investments in Associates
in Consolidated Financial Statements (AS-23)
-
Financial Reporting of Interests in Joint
Ventures (AS-27).
-
On February 8, 2008 Tata Metaliks Ltd has
become a subsidiary of the Company with Tata Steel Limited and
its subsidiaries holding 50.05% equity share capital of Tata
Metaliks Ltd.
-
On February 25, 2008 the Company has acquired
70% equity shares in Al Rimal Mining LLC, a group company of the
Al Bahja Group of Oman for the development of the Uyun Limestone
deposits at Salalah in the Sultanate of Oman. Consequently Al
Rimal Mining LLC has become a subsidiary of the Company during
the period.
-
Item 7 (c) of the Exceptional items
represents net gain of Rs.594.72 crores due to the appreciation
of the Rupee against various foreign currencies during the year
ended March 31, 2008.
-
Item 7 (d) of the Exceptional items
represents notional net actuarial gain of Rs.5,906.84 crores on
funds for employee benefits in Corus. The gain is on account of
increase in asset values of the schemes as well as reduction in
the liability due to the increase in the bond yield rates.
-
Figures for the previous period have been
regrouped and reclassified to conform to the classification of
the current period, wherever necessary. The previous period
figures do not include the financial results of the Corus Group.
-
The above results have been reviewed by the
Audit Committee in its meeting held on June 23, 2008 and
approved by the Board of Directors in its meeting of date.
TATA STEEL LIMITED
| Mumbai: June 26, 2008
|
Sd/- Ratan N. Tata
Chairman |
TATA STEEL LIMITED
Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI 400001
Audited Financial Results for the Year ended on 31st March, 2008
| |
|
|
Financial Year ended on 31.03.2008 |
Financial Year ended on 31.03.2007 |
| (A) |
|
|
|
|
| 1 |
Steel Production |
Tonnes |
4,858,401 |
4,928,548 |
| 2 |
Steel Sales |
" |
4,781,847 |
4,794,012 |
| 3 |
Export turnover ( F.O.B Value) |
Rs. Crores |
2,123.41 |
1,957.76 |
| |
|
US $ Mill . |
527.17 |
434.18 |
| (B) |
|
|
|
|
| 1 |
Net Sales/Income from Operations |
Rs. Crores |
19,693.28 |
17,551.09 |
| 2 |
Other Income |
" |
335.00 |
433.67 |
| 3 |
Total Income ( 1+2 ) |
" |
20,028.28 |
17,984.76 |
| 4 |
Total Expenditure |
|
|
|
| |
a) (Increase) /decrease in stock in trade |
" |
(38.73) |
(82.47) |
| |
b) Purchases of finished, semi-finished steel and other products |
" |
446.95 |
450.60 |
| |
c) Raw materials consumed |
" |
3,429.52 |
3,121.46 |
| |
d) Staff Cost |
" |
1,594.77 |
1,454.83 |
| |
e) Purchase of Power |
" |
932.78 |
921.69 |
| |
f) Freight and handling |
" |
1,098.19 |
1,117.45 |
| |
g) Depreciation |
" |
834.61 |
819.29 |
| |
h) Other Expenditure |
" |
4,006.26 |
3,594.26 |
| |
i) Total Expenditure ( 4a to 4h ) |
" |
12,304.35 |
11,397.11 |
| 5 |
Profit before Interest, Exceptional Items & Tax (3-4) |
" |
7,723.93 |
6,587.65 |
| 6 |
Interest ( net ) |
" |
878.70 |
173.90 |
| 7 |
Exceptional Items |
|
|
|
| |
a) Employee Separation Compensation |
" |
(226.18) |
(152.10) |
| |
b) Contribution for Sports Infrastructure |
" |
(150.00) |
- |
| |
c) Exchange Gain / ( Loss ) ( See Note
1 ) |
" |
597.31 |
- |
| |
Total of Exceptional items ( 7a to 7c ) |
" |
221.13 |
(152.10) |
| 8 |
Profit before tax (5-6+7) |
" |
7,066.36 |
6,261.65 |
| 9 |
Tax Expense |
" |
2,379.33 |
2,039.50 |
| 10 |
Net Profit (+) / Loss (-) (8-9) |
" |
4,687.03 |
4,222.15 |
| 11 |
Paid-up Equity Share Capital ( Face Value : Rs 10 per Share ) |
" |
730.78 |
580.67 |
| 12 |
Reserves excluding revaluation reserves |
" |
21,097.43 |
13,368.42 |
| 13 |
Basic Earnings per Share ( after Exceptional items ) |
Rupees |
67.17 |
65.28 |
| 14 |
Diluted Earnings per Share ( after Exceptional items) |
Rupees |
61.63 |
65.27 |
| 15 |
Aggregate of Public Shareholding Number of shares |
Nos. |
482,587,357 |
403,316,773 |
| |
% of shareholding |
% |
66.06% |
69.48%
|
(C) Segment Revenue, Results and Capital Employed
(Rs. Crores) |
| Particulars |
Financial Year ended on 31.03.2008
|
Financial Year ended on 31.03.2007
|
| Revenue by Business Segment: |
|
|
| Steel business |
17,500.65 |
15,626.93 |
| Ferro Alloys and Minerals |
2,005.78 |
1,574.35 |
| Others |
1,360.02 |
1,257.50 |
| Total |
20,866.45 |
18,458.78 |
| Less: Inter segment revenue |
1,173.17 |
907.69 |
| Net sales/ income from operations |
19,693.28 |
17,551.09 |
| Segment results before interest, exceptional |
|
|
| items and tax: |
|
|
| Steel business |
6,728.41 |
5,643.82 |
| Ferro Alloys and Minerals |
840.58 |
573.67 |
| Others |
6.10 |
53.62 |
| Unallocated income/(expenditure) |
148.84 |
316.54 |
| Total |
7,723.93 |
6,587.65 |
| |
|
|
| Less: |
|
|
| Interest |
878.70 |
173.90 |
| Profit before exceptional items & tax |
6,845.23 |
6,413.75 |
| Exceptional Items: |
|
|
| Employee Separation Compensation |
(226.18) |
(152.10) |
| Contribution for Sports Infrastructure |
(150.00) |
- |
| Exchange Gain / (Loss) |
597.31 |
- |
| Profit before tax |
7,066.36 |
6,261.65 |
| Less: Tax Expense |
2,379.33 |
2,039.50 |
| Profit after tax |
4,687.03 |
4,222.15 |
| Segment Capital Employed: |
|
|
| Steel business |
11,893.15 |
10,625.37 |
| Ferro Alloys and Minerals |
296.69 |
149.90 |
| Others |
278.35 |
276.20 |
| Unallocated |
(951.19) |
6,113.91 |
| Total |
11,517.00 |
17,165.38 |
| |
|
|
|
Notes:
- Item 7 (c) of the Exceptional items represents a net
gain of Rs.597.31 crores due to the appreciation of the
Rupee against various foreign currencies during the year
ended March 31, 2008.
- Information on investor complaints pursuant to clause 41 of
the listing agreement for the quarter ended March 31, 2008:
| Complaints |
Opening
Balance |
Received
during the
quarter |
Resolved
during the
quarter |
Closing
balance |
Balance as
on June 24,
2008 |
| Rights Issue related |
1 |
4167
|
3777
|
391
|
57 |
| Others |
1 |
7 |
8 |
- |
- |
- Figures for the previous period have been regrouped and
reclassified to conform to the classification of the current
period, wherever necessary.
- The above results have been reviewed by the Audit Committee
in its meeting held on June 23, 2008 and were approved by the
Board of Directors in its meeting of date.
- The Board of Directors has recommended a dividend of 2%
on Cumulative Convertible Preference Shares payable pro-rata
from the date of allotment and 160% on Ordinary Shares for
the financial year 2007-08.
- The Annual General Meeting of the Company will be held
on August 28, 2008 to consider the accounts for the
financial year 2007-08.
TATA STEEL LIMITED
| Mumbai: June 26, 2008
|
Sd/- Ratan N. Tata
Chairman |
|
|
