Tata Steel Regulatory News (TTST)

TATA STEEL LIMITED

Standalone Financial Results for the Quarter / Nine Months ended on 31st December 2012

PART I

`Crores

Particulars

Quarterended on31.12.2012

Quarterended on30.09.2012

Quarterended on31.12.2011

Nine Months ended on 31.12.2012

Nine Months ended on 31.12.2011

Financial Year ended on 31.03.2012

Audited

Audited

Audited

Audited

Audited

Audited

1

Income from operations

a)

Net sales / income from operations (net of excise duty)

9,268.19

9,034.20

8,304.58

27,122.58

24,238.97

33,614.88

b)

Other operating income

102.12

116.36

77.27

306.32

215.06

318.58

Total income from operations (net) [ 1(a) + 1(b) ]

9,370.31

9,150.56

8,381.85

27,428.90

24,454.03

33,933.46

2

Expenses

a)

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(242.99)

(241.17)

(112.90)

(980.72)

(407.90)

(220.72)

b)

Purchases of finished, semi-finished steel and other products

174.92

83.45

62.94

335.40

145.28

209.52

c)

Raw materials consumed

2,498.89

2,537.16

2,187.73

7,458.67

5,867.02

8,014.37

d)

Employee benefits expense

883.86

829.99

733.15

2,572.98

2,110.93

3,047.26

e)

Purchase of power

624.42

587.63

452.08

1,759.83

1,343.44

1,803.72

f)

Freight and handling charges

563.28

516.28

443.93

1,561.44

1,240.35

1,703.98

g)

Depreciation and amortisation expense

433.94

391.28

289.07

1,179.61

861.48

1,151.44

h)

Other expenses

2,341.75

2,321.00

1,970.78

6,899.08

5,609.75

7,838.56

Total expenses [2(a) to 2(h)]

7,278.07

7,025.62

6,026.78

20,786.29

16,770.35

23,548.13

3

Profit / (Loss) from operations before other income, finance costs, exceptional items and Tax [1 - 2]

2,092.24

2,124.94

2,355.07

6,642.61

7,683.68

10,385.33

4

Other income

35.72

239.69

197.60

427.30

703.50

886.43

5

Profit / (Loss) from operations before finance costs, exceptional items and tax [3 + 4]

2,127.96

2,364.63

2,552.67

7,069.91

8,387.18

11,271.76

6

Finance costs

508.98

453.93

481.12

1,417.35

1,411.46

1,925.42

7

Profit / (Loss) before exceptional items and tax [5 - 6]

1,618.98

1,910.70

2,071.55

5,652.56

6,975.72

9,346.34

8

Exceptional items :

a)

Profit / (Loss) on sale of non-current investments

-

9.60

-

9.60

511.01

511.01

9

Profit / (Loss) before tax [ 7 + 8 ]

1,618.98

1,920.30

2,071.55

5,662.16

7,486.73

9,857.35

10

Tax expense

a)

Current tax

327.56

357.89

646.50

1,284.05

2,390.00

3,115.11

b)

MAT credit

(121.35)

(133.81)

-

(255.16)

-

-

c)

Deferred tax

366.38

345.41

3.79

879.51

(39.18)

45.82

Total tax expense [10(a) to 10(c)]

572.59

569.49

650.29

1,908.40

2,350.82

3,160.93

11

Net Profit / (Loss) for the period [9 - 10]

1,046.39

1,350.81

1,421.26

3,753.76

5,135.91

6,696.42

12

Paid-up equity share capital[Face value `10 per share]

971.41

971.41

959.41

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)

10.31

13.44

14.35

37.26

52.20

67.84

15

Diluted earnings per share (not annualised) - in Rupees(after exceptional items)

10.31

13.43

13.69

37.26

51.18

66.62

PART II

Select information for the Quarter ended on 31st December 2012

Quarterended on31.12.2012

Quarterended on30.09.2012

Quarterended on31.12.2011

Nine Months ended on 31.12.2012

Nine Months ended on 31.12.2011

Financial Year ended on 31.03.2012

A

Particulars of Shareholding

1

Aggregate of public shareholding

Number of shares

646,640,774

648,396,801

643,937,893

646,640,774

643,937,893

648,608,999

% of shareholding

67.98%

68.04%

68.60%

67.98%

68.60%

68.05%

2

Promoters and promoter group shareholding

a)

Pledged / encumbered

- Number of shares

20,000,000

10,000,000

10,000,000

20,000,000

10,000,000

10,000,000

- % of shares to total share holding of promoter & promoter group

6.57%

3.28%

3.39%

6.57%

3.39%

3.28%

- % of shares to total share capital of the company

2.06%

1.03%

1.04%

2.06%

1.04%

1.03%

b)

Non-encumbered

- Number of shares

284,514,362

294,514,362

284,735,764

284,514,362

284,735,764

294,514,362

- % of shares to total share holding of promoter & promoter group

93.43%

96.72%

96.61%

93.43%

96.61%

96.72%

- % of shares to total share capital of the company

29.29%

30.32%

29.68%

29.29%

29.68%

30.32%

Particulars

Quarterended on 31.12.2012

B

Investor complaints

Pending at the beginning of the Quarter

19

Received during the quarter

108

Disposed off during the quarter

124

Remaining unresolved at the end of the quarter

3

Standalone Segment Revenue, Results and Capital Employed

`Crores

Particulars

Quarterended on31.12.2012

Quarterended on30.09.2012

Quarterended on31.12.2011

Nine Months ended on 31.12.2012

Nine Months ended on 31.12.2011

Financial Year ended on 31.03.2012

Audited

Audited

Audited

Audited

Audited

Audited

Revenue by Business Segment:

Steel business

8,564.44

8,383.47

7,688.07

25,152.73

22,643.46

31,331.71

Ferro Alloys and Minerals

796.11

793.93

675.83

2,301.64

1,753.82

2,473.98

Others

494.21

511.53

484.87

1,500.67

1,464.97

2,002.42

Total

9,854.76

9,688.93

8,848.77

28,955.04

25,862.25

35,808.11

Less: Inter segment revenue

484.45

538.37

466.92

1,526.14

1,408.22

1,874.65

Net sales / income from operations

9,370.31

9,150.56

8,381.85

27,428.90

24,454.03

33,933.46

Segment results before finance costs, exceptional items and tax:

Steel business

2,039.18

2,183.77

2,240.28

6,651.57

7,465.96

10,276.29

Ferro Alloys and Minerals

173.02

189.92

148.43

549.60

401.26

530.45

Others

9.52

1.44

11.22

23.68

44.65

63.61

Unallocated income / (expenditure)

(93.76)

(10.50)

152.74

(154.94)

475.31

401.41

Total Segment results before finance costs, exceptional items and tax

2,127.96

2,364.63

2,552.67

7,069.91

8,387.18

11,271.76

Less: Finance costs

508.98

453.93

481.12

1,417.35

1,411.46

1,925.42

Profit / (Loss) before exceptional items and tax

1,618.98

1,910.70

2,071.55

5,652.56

6,975.72

9,346.34

Exceptional items:

Profit / (Loss) on sale of non-current investments

-

9.60

-

9.60

511.01

511.01

Profit / (Loss) before tax

1,618.98

1,920.30

2,071.55

5,662.16

7,486.73

9,857.35

Less: Tax expense

572.59

569.49

650.29

1,908.40

2,350.82

3,160.93

Net Profit / (Loss)

1,046.39

1,350.81

1,421.26

3,753.76

5,135.91

6,696.42

Segment Capital Employed:

Steel business

30,413.92

29,189.04

23,817.70

30,413.92

23,817.70

26,147.62

Ferro Alloys and Minerals

351.59

368.23

180.89

351.59

180.89

195.43

Others

259.15

253.74

279.78

259.15

279.78

243.39

Unallocated

2,371.81

2,778.91

9,105.40

2,371.81

9,105.40

4,508.89

Total

33,396.47

32,589.92

33,383.77

33,396.47

33,383.77

31,095.33

Consolidated Financial Results for the Quarter / Nine Months ended on 31st December 2012

PART I

`Crores

Particulars

Quarterended on31.12.2012

Quarterended on30.09.2012

Quarterended on31.12.2011

Nine Monthsended on 31.12.2012

Nine Monthsended on 31.12.2011

Financial Yearended on 31.03.2012

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

1

Income from operations

a)

Net sales / income from operations (net of excise duty)

31,821.50

33,867.32

32,964.15

99,236.55

98,397.28

132,257.36

b)

Other operating income

285.64

265.41

138.92

824.52

503.85

642.34

Total income from operations (net) [ 1(a) + 1(b) ]

32,107.14

34,132.73

33,103.07

100,061.07

98,901.13

132,899.70

2

Expenses

a)

Changes in inventories of finished goods, work-in-progress and stock-in-trade

202.63

1,265.01

(372.19)

(1,205.37)

(1,697.00)

(785.93)

b)

Purchases of finished, semi-finished steel and other products

3,949.07

4,697.26

5,265.11

14,784.47

15,644.92

21,073.43

c)

Raw materials consumed

9,769.22

10,534.88

12,618.69

31,888.74

35,232.64

45,457.54

d)

Employee benefits expense

4,737.15

4,539.34

4,293.82

14,058.97

12,506.54

17,228.64

e)

Purchase of power

1,443.10

1,373.49

1,251.14

4,207.20

3,641.11

4,915.45

f)

Freight and handling charges

1,872.20

1,795.19

1,720.66

5,403.20

4,898.45

6,659.54

g)

Depreciation and amortisation expense

1,462.84

1,334.94

1,164.01

4,105.76

3,423.58

4,516.65

h)

Other expenses

7,894.86

7,617.48

6,412.55

22,971.59

19,436.51

25,934.24

Total expenses [2(a) to 2(h)]

31,331.07

33,157.59

32,353.79

96,214.56

93,086.75

124,999.56

3

Profit / (Loss) from operations before other income, finance costs, exceptional items and tax [1 - 2]

776.07

975.14

749.28

3,846.51

5,814.38

7,900.14

4

Other income

55.86

201.77

253.67

547.01

1,351.01

1,573.03

5

Profit / (Loss) from operations before finance costs, exceptional items and tax [3 + 4]

831.93

1,176.91

1,002.95

4,393.52

7,165.39

9,473.17

6

Finance costs

1,032.25

972.11

1,059.98

2,973.37

3,122.11

4,250.11

7

Profit / (Loss) before exceptional items and tax [5 - 6]

(200.32)

204.80

(57.03)

1,420.15

4,043.28

5,223.06

8

Exceptional items :

a)

Profit / (Loss) on sale of non-current investments

(19.78)

42.68

-

22.90

3,361.92

3,361.92

9

Profit / (Loss) before tax [ 7 + 8 ]

(220.10)

247.48

(57.03)

1,443.05

7,405.20

8,584.98

10

Tax expense

a)

Current tax

410.10

457.59

721.58

1,579.86

2,673.20

3,517.65

b)

MAT credit

(124.44)

(135.88)

(1.95)

(261.57)

(5.27)

(5.41)

c)

Deferred tax

282.88

339.04

(89.30)

809.63

(8.07)

124.22

Total tax expense [10(a) to 10(c)]

568.54

660.75

630.33

2,127.92

2,659.86

3,636.46

11

Net Profit / (Loss) for the period [9 - 10]

(788.64)

(413.27)

(687.36)

(684.87)

4,745.34

4,948.52

12

Minority interest

7.99

27.51

64.05

75.39

143.04

173.14

13

Share of profit / (loss) of associates

17.59

21.83

20.64

80.37

67.93

268.11

14

Net Profit / (Loss) after taxes, minority interest and share of profit /(loss) of associates [ 11 + 12 + 13 ]

(763.06)

(363.93)

(602.67)

(529.11)

4,956.31

5,389.77

15

Paid-up equity share capital[Face value `10 per share]

971.41

971.41

958.74

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)

(8.32)

(4.21)

(6.76)

(6.84)

50.36

54.28

18

Diluted earnings per share (not annualised) - in Rupees(after exceptional items)

(8.32)

(4.21)

(6.76)

(6.84)

49.41

53.63

Consolidated Segment Revenue, Results and Capital Employed

`Crores

Particulars

Quarterended on31.12.2012

Quarterended on30.09.2012

Quarterended on31.12.2011

Nine Monthsended on 31.12.2012

Nine Monthsended on 31.12.2011

Financial Yearended on 31.03.2012

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

Revenue by Business Segment:

Steel business

30,254.03

32,032.21

31,727.37

94,698.75

94,986.99

127,266.50

Others

3,789.99

3,763.14

3,371.34

11,213.82

9,630.31

13,496.58

Unallocated

235.84

242.61

418.72

717.04

1,266.85

1,663.82

Total

34,279.86

36,037.96

35,517.43

106,629.61

105,884.15

142,426.90

Less: Inter segment revenue

2,172.72

1,905.23

2,414.36

6,568.54

6,983.02

9,527.20

Net sales / income from operations

32,107.14

34,132.73

33,103.07

100,061.07

98,901.13

132,899.70

Segment results before finance costs, exceptional items and tax:

Steel business

909.24

1,499.76

415.88

5,127.07

6,872.45

9,575.83

Others

139.23

118.83

42.04

455.88

31.42

102.21

Unallocated income / (expenditure)

249.30

1,185.67

859.88

1,582.85

2,075.36

4,431.65

Less: Inter segment eliminations

465.84

1,627.35

314.85

2,772.28

1,813.84

4,636.52

Total Segment results before finance costs, exceptional items and tax

831.93

1,176.91

1,002.95

4,393.52

7,165.39

9,473.17

Less: Finance costs

1,032.25

972.11

1,059.98

2,973.37

3,122.11

4,250.11

Profit / (Loss) before exceptional items and tax

(200.32)

204.80

(57.03)

1,420.15

4,043.28

5,223.06

Exceptional items:

Profit / (Loss) on sale of non-current investments

(19.78)

42.68

-

22.90

3,361.92

3,361.92

Profit / (Loss) before tax

(220.10)

247.48

(57.03)

1,443.05

7,405.20

8,584.98

Less: Tax expense

568.54

660.75

630.33

2,127.92

2,659.86

3,636.46

Net Profit / (Loss)

(788.64)

(413.27)

(687.36)

(684.87)

4,745.34

4,948.52

Segment Capital Employed:

Steel business

86,120.76

84,216.41

78,304.12

86,120.76

78,304.12

77,632.32

Others

5,186.49

5,082.63

5,035.90

5,186.49

5,035.90

4,263.56

Unallocated

920.88

4,149.70

9,709.96

920.88

9,709.96

6,682.53

Inter segment eliminations

(491.32)

(541.45)

(463.70)

(491.32)

(463.70)

(441.49)

Total

91,736.81

92,907.29

92,586.28

91,736.81

92,586.28

88,136.92