Last checked at 14 May 2014 15:40
Standalone Financial Results for the Quarter / Year ended on 31st March 2014 | |||||||||
PART I | `Crores | ||||||||
Particulars | Quarterended on31.03.2014 | Quarterended on31.12.2013 | Quarterended on31.03.2013 | Financial Year ended on 31.03.2014 | Financial Year ended on 31.03.2013 | ||||
Unaudited(Refer Note 4) | Audited | Unaudited(Refer Note 4) | Audited | Audited | |||||
1 | Income from operations | ||||||||
a) | Net sales / income from operations (net of excise duty) | 12,041.92 | 10,040.37 | 10,642.29 | 41,271.24 | 37,846.98 | |||
b) | Other operating income | 149.30 | 103.01 | 128.24 | 439.79 | 352.45 | |||
Total income from operations (net) [1(a) + 1(b)] | 12,191.22 | 10,143.38 | 10,770.53 | 41,711.03 | 38,199.43 | ||||
2 | Expenses | ||||||||
a) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 296.41 | 36.47 | 576.12 | (155.18) | (404.60) | |||
b) | Purchases of finished, semi-finished steel & other products | 54.00 | 64.84 | 117.94 | 352.63 | 453.34 | |||
c) | Raw materials consumed | 2,743.23 | 2,215.05 | 2,418.73 | 9,677.71 | 9,877.40 | |||
d) | Employee benefits expense | 797.52 | 903.95 | 1,029.29 | 3,681.58 | 3,602.27 | |||
e) | Purchase of power | 617.68 | 637.52 | 561.28 | 2,564.61 | 2,321.11 | |||
f) | Freight and handling charges | 769.61 | 716.64 | 699.32 | 2,755.08 | 2,260.76 | |||
g) | Depreciation and amortisation expense | 461.63 | 456.46 | 460.77 | 1,928.70 | 1,640.38 | |||
h) | Other expenses | 2,804.00 | 2,633.03 | 2,063.83 | 10,017.70 | 8,962.91 | |||
Total expenses [2(a) to 2(h)] | 8,544.08 | 7,663.96 | 7,927.28 | 30,822.83 | 28,713.57 | ||||
3 | Profit / (Loss) from operations before other income, finance costs, exceptional items and tax [1 - 2] | 3,647.14 | 2,479.42 | 2,843.25 | 10,888.20 | 9,485.86 | |||
4 | Other income | 52.95 | 264.82 | 474.74 | 787.64 | 902.04 | |||
5 | Profit / (Loss) from operations before finance costs, exceptional items and tax [3 + 4] | 3,700.09 | 2,744.24 | 3,317.99 | 11,675.84 | 10,387.90 | |||
6 | Finance costs | 464.64 | 452.92 | 459.42 | 1,820.58 | 1,876.77 | |||
7 | Profit / (Loss) before exceptional items and tax [5 - 6] | 3,235.45 | 2,291.32 | 2,858.57 | 9,855.26 | 8,511.13 | |||
8 | Exceptional items : | ||||||||
a) | Profit on sale of non current investments | - | - | 2.73 | - | 12.33 | |||
b) | Provision for diminution in value of investments/doubtful advances | (141.76) | - | (686.86) | (141.76) | (686.86) | |||
Total exceptional items [8(a) + 8(b)] | (141.76) | - | (684.13) | (141.76) | (674.53) | ||||
9 | Profit / (Loss) before tax [ 7 + 8 ] | 3,093.69 | 2,291.32 | 2,174.44 | 9,713.50 | 7,836.60 | |||
10 | Tax expense | ||||||||
a) | Current tax | 996.61 | 700.16 | 486.49 | 3,098.02 | 1,770.54 | |||
b) | MAT credit | - | - | (144.68) | - | (399.84) | |||
c) | Deferred tax | 118.44 | 72.39 | 523.42 | 203.29 | 1,402.93 | |||
Total tax expense [10(a) to 10(c)] | 1,115.05 | 772.55 | 865.23 | 3,301.31 | 2,773.63 | ||||
11 | Net Profit / (Loss) for the period [9 - 10] | 1,978.64 | 1,518.77 | 1,309.21 | 6,412.19 | 5,062.97 | |||
12 | Paid-up equity share capital[Face value `10 per share] | 971.41 | 971.41 | 971.41 | 971.41 | 971.41 | |||
13 | Paid up debt capital | 15,092.78 | 14,411.91 | ||||||
14 | Reserves excluding revaluation reserves | 60,176.58 | 54,238.27 | ||||||
15 | Debenture redemption reserve | 2,046.00 | 2,046.00 | ||||||
16 | Basic earnings per share (not annualised) - in Rupees(after exceptional items) | 19.93 | 15.18 | 13.02 | 64.21 | 50.28 | |||
17 | Diluted earnings per share (not annualised) - in Rupees(after exceptional items) | 19.93 | 15.18 | 13.02 | 64.21 | 50.28 | |||
18 | Net debt equity ratio | 0.41 | 0.44 | ||||||
19 | Debt service coverage ratio | 1.50 | 1.15 | ||||||
20 | Interest service coverage ratio | 7.69 | 6.50 | ||||||
(a) Paid up debt capital represents debentures and Foreign Currency Convertible Bonds (FCCB)
(b) Net debt to equity: Net debt / Average net worth
(Net debt: Long term borrowings + Current maturities of long term borrowings + Short term borrowings - Cash & bank balances - Current investments)
(Net worth: Shareholders' funds+ Hybrid Perpetual Securities)
(c) Debt service coverage ratio: EBIT / (Net finance charges + Scheduled principal repayments ( excluding prepayments) during the period)
(EBIT : Profit before tax +/(-) Exceptional items + Net finance charges)
(Net finance charges : Finance costs - Interest income - Dividend income from current investments - Net Gain / (Loss) on sale of current investments)
(d) Interest service coverage ratio: EBIT / Net finance charges
PART II | ||||||||||||
Select information for the Quarter ended on 31st March 2014 |
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Quarterended on31.03.2014 | Quarterended on31.12.2013 | Quarterended on31.03.2013 | Financial Year ended on 31.03.2014 | Financial Year ended on 31.03.2013 |
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A | Particulars of Shareholding |
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1 | Aggregate of public shareholding |
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Number of shares | 63,78,25,723 | 63,78,20,006 | 64,49,61,944 | 63,78,25,723 | 64,49,61,944 |
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% of shareholding | 67.69% | 67.69% | 67.93% | 67.69% | 67.93% |
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2 | Promoters and promoter group shareholding |
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a) | Pledged / encumbered |
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- Number of shares | 2,24,00,000 | 2,00,00,000 | 2,00,00,000 | 2,24,00,000 | 2,00,00,000 |
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- % of shares to total share holding of promoter & promoter group | 7.36% | 6.57% | 6.57% | 7.36% | 6.57% |
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- % of shares to total share capital of the company | 2.31% | 2.06% | 2.06% | 2.31% | 2.06% |
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b) | Non-encumbered |
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- Number of shares | 28,21,14,362 | 28,45,14,362 | 28,45,14,362 | 28,21,14,362 | 28,45,14,362 |
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- % of shares to total share holding of promoter & promoter group | 92.64% | 93.43% | 93.43% | 92.64% | 93.43% |
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- % of shares to total share capital of the company | 29.04% | 29.29% | 29.29% | 29.04% | 29.29% |
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Particulars | Quarterended on 31.03.2014 |
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B | Investor complaints |
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Pending at the beginning of the Quarter | 5 |
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Received during the quarter | 69 |
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Disposed off during the quarter | 71 |
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Remaining unresolved at the end of the quarter | 3 |
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Standalone Segment Revenue, Results and Capital Employed | |||||
`Crores | |||||
Particulars | Quarterended on31.03.2014 | Quarterended on31.12.2013 | Quarterended on31.03.2013 | Financial year ended on 31.03.2014 | Financial year ended on 31.03.2013 |
Unaudited(Refer Note 4) | Audited | Unaudited(Refer Note 4) | Audited | Audited | |
Revenue by Business Segment: | |||||
Steel business | 11,304.72 | 9,299.21 | 10,117.48 | 38,688.35 | 35,270.21 |
Ferro Alloys and Minerals | 825.26 | 808.30 | 607.98 | 2,921.66 | 2,909.62 |
Others | 616.84 | 529.18 | 546.31 | 2,209.58 | 2,046.98 |
Total | 12,746.82 | 10,636.69 | 11,271.77 | 43,819.59 | 40,226.81 |
Less: Inter segment revenue | 555.60 | 493.31 | 501.24 | 2,108.56 | 2,027.38 |
Net sales / income from operations | 12,191.22 | 10,143.38 | 10,770.53 | 41,711.03 | 38,199.43 |
Segment results before finance costs, exceptional items and tax: | |||||
Steel business | 3,453.36 | 2,454.47 | 2,889.96 | 10,724.95 | 9,541.53 |
Ferro Alloys and Minerals | 255.93 | 227.06 | 78.64 | 800.74 | 628.24 |
Others | 24.49 | 9.71 | 11.25 | 43.25 | 34.93 |
Unallocated income / (expenditure) | (33.69) | 53.00 | 338.14 | 106.90 | 183.20 |
Total Segment results before finance costs, exceptional items and tax | 3,700.09 | 2,744.24 | 3,317.99 | 11,675.84 | 10,387.90 |
Less: Finance costs | 464.64 | 452.92 | 459.42 | 1,820.58 | 1,876.77 |
Profit / (Loss) before exceptional items and tax | 3,235.45 | 2,291.32 | 2,858.57 | 9,855.26 | 8,511.13 |
Exceptional items: | |||||
Profit on sale of non current investments | - | - | 2.73 | - | 12.33 |
Provision for diminution in value of investments/doubtful advances | (141.76) | - | (686.86) | (141.76) | (686.86) |
Profit / (Loss) before tax | 3,093.69 | 2,291.32 | 2,174.44 | 9,713.50 | 7,836.60 |
Less: Tax expense | 1,115.05 | 772.55 | 865.23 | 3,301.31 | 2,773.63 |
Net Profit / (Loss) | 1,978.64 | 1,518.77 | 1,309.21 | 6,412.19 | 5,062.97 |
Segment Capital Employed: | |||||
Steel business | 38,860.47 | 35,899.28 | 31,736.78 | 38,860.47 | 31,736.78 |
Ferro Alloys and Minerals | 288.96 | 256.70 | 260.14 | 288.96 | 260.14 |
Others | 131.36 | 182.09 | 201.68 | 131.36 | 201.68 |
Unallocated | (83.16) | 621.85 | 2,535.73 | (83.16) | 2,535.73 |
Total | 39,197.63 | 36,959.92 | 34,734.33 | 39,197.63 | 34,734.33 |
Standalone Statement of Assets & Liabilities | ||||||
` Crores | ||||||
Particulars | As at 31.03.2014 | As at 31.03.2013 | ||||
Audited | Audited | |||||
A | EQUITY AND LIABILITIES | |||||
(1) | Shareholders' funds | |||||
(a) | Share capital | 971.41 | 971.41 | |||
(b) | Reserves and surplus | 60,176.58 | 54,238.27 | |||
Sub-total - Shareholders' funds | 61,147.99 | 55,209.68 | ||||
(2) | Share application money pending allotment | - | - | |||
(3) | Hybrid Perpetual Securities | 2,275.00 | 2,275.00 | |||
(4) | Non-current liabilities | |||||
(a) | Long-term borrowings | 23,808.09 | 23,565.57 | |||
(b) | Deferred tax liabilities (net) | 2,038.98 | 1,843.74 | |||
(c) | Other long-term liabilities | 983.52 | 380.87 | |||
(d) | Long-term provisions | 1,905.05 | 2,113.42 | |||
Sub-total - Non current liabilities | 28,735.64 | 27,903.60 | ||||
(5) | Current liabilities | |||||
(a) | Short-term borrowings | 43.69 | 70.94 | |||
(b) | Trade payables | 8,272.11 | 6,363.66 | |||
(c) | Other current liabilities | 8,663.17 | 8,509.79 | |||
(d) | Short-term provisions | 1,902.81 | 1,544.26 | |||
Sub-total - Current liabilities | 18,881.78 | 16,488.65 | ||||
TOTAL - EQUITY AND LIABILITIES | 1,11,040.41 | 1,01,876.93 | ||||
B | ASSETS | |||||
(1) | Non-current assets | |||||
(a) | Fixed assets | 42,775.15 | 33,597.34 | |||
(b) | Non-current investments | 52,318.56 | 49,984.80 | |||
(c) | Long-term loans and advances | 4,080.07 | 6,574.15 | |||
(d) | Other non current assets | 302.03 | 215.79 | |||
Sub-total - Non current assets | 99,475.81 | 90,372.08 | ||||
(2) | Current assets | |||||
(a) | Current investments | 2,343.24 | 434.00 | |||
(b) | Inventories | 6,007.81 | 5,257.94 | |||
(c) | Trade receivables | 770.81 | 796.92 | |||
(d) | Cash and bank balances | 961.16 | 2,192.36 | |||
(e) | Short-term loans and advances | 1,299.20 | 2,207.83 | |||
(f) | Other current assets | 182.38 | 615.80 | |||
Sub-total - Current assets | 11,564.60 | 11,504.85 | ||||
TOTAL - ASSETS | 1,11,040.41 | 1,01,876.93 | ||||
Consolidated Financial Results for the Quarter / Year ended on 31st March 2014 | |||||||||
PART I | `Crores | ||||||||
Particulars | Quarterended on31.03.2014 | Quarterended on31.12.2013 | Quarterended on31.03.2013 | Financial Year ended on 31.03.2014 | Financial Year ended on 31.03.2013 | ||||
Unaudited | Unaudited | Unaudited | Audited | Audited | |||||
1 | Income from operations | ||||||||
a) | Net sales / income from operations (net of excise duty) | 42,017.63 | 36,409.80 | 34,219.46 | 1,47,347.28 | 1,33,538.12 | |||
b) | Other operating income | 410.42 | 326.02 | 431.01 | 1,266.27 | 1,173.42 | |||
Total income from operations (net) [1(a) + 1(b)] | 42,428.05 | 36,735.82 | 34,650.47 | 1,48,613.55 | 1,34,711.54 | ||||
2 | Expenses | ||||||||
a) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 2,275.19 | (1,508.37) | 2,624.29 | (514.67) | 1,418.92 | |||
b) | Purchases of finished, semi-finished steel & other products | 4,238.53 | 4,790.15 | 3,689.40 | 17,008.21 | 18,473.87 | |||
c) | Raw materials consumed | 12,602.67 | 11,632.73 | 8,754.72 | 46,242.98 | 40,643.46 | |||
d) | Employee benefits expense | 5,363.85 | 4,986.01 | 4,853.03 | 20,311.91 | 18,912.00 | |||
e) | Purchase of power | 1,595.19 | 1,405.25 | 1,346.81 | 6,035.77 | 5,554.01 | |||
f) | Freight and handling charges | 2,643.65 | 2,232.95 | 2,031.07 | 9,007.92 | 7,434.27 | |||
g) | Depreciation and amortisation expense | 1,471.87 | 1,522.09 | 1,469.56 | 5,841.22 | 5,575.32 | |||
h) | Other expenses | 8,697.89 | 9,190.56 | 6,982.21 | 34,110.42 | 29,953.80 | |||
Total expenses [2(a) to 2(h)] | 38,888.84 | 34,251.37 | 31,751.09 | 1,38,043.76 | 1,27,965.65 | ||||
3 | Profit / (Loss) from operations before other income, finance costs, exceptional items and tax [1 - 2] | 3,539.21 | 2,484.45 | 2,899.38 | 10,569.79 | 6,745.89 | |||
4 | Other income | 111.70 | 18.12 | (67.86) | 516.81 | 479.15 | |||
5 | Profit / (Loss) from operations before finance costs, exceptional items and tax [3 + 4] | 3,650.91 | 2,502.57 | 2,831.52 | 11,086.60 | 7,225.04 | |||
6 | Finance costs | 1,169.35 | 1,108.42 | 994.74 | 4,336.83 | 3,968.11 | |||
7 | Profit / (Loss) before exceptional items and tax [5 - 6] | 2,481.56 | 1,394.15 | 1,836.78 | 6,749.77 | 3,256.93 | |||
8 | Exceptional items : | ||||||||
a) | Profit on sale of non current investments | - | 0.44 | 943.13 | 18.20 | 966.03 | |||
b) | Provision for diminution in value of investments | (0.42) | - | - | (0.42) | - | |||
c) | Provision for impairment of non-current assets | (45.42) | - | (8,355.91) | (45.42) | (8,355.91) | |||
Total exceptional items [8(a) to 8(c)] | (45.84) | 0.44 | (7,412.78) | (27.64) | (7,389.88) | ||||
9 | Profit / (Loss) before tax [ 7 + 8 ] | 2,435.72 | 1,394.59 | (5,576.00) | 6,722.13 | (4,132.95) | |||
10 | Tax expense | ||||||||
a) | Current tax | 1,060.07 | 818.77 | 745.54 | 3,482.64 | 2,325.40 | |||
b) | MAT credit | (0.21) | - | (148.55) | (0.21) | (410.12) | |||
c) | Deferred tax | 304.67 | 76.32 | 504.53 | (424.27) | 1,314.16 | |||
Total tax expense [10(a) to 10(c)] | 1,364.53 | 895.09 | 1,101.52 | 3,058.16 | 3,229.44 | ||||
11 | Net Profit / (Loss) for the period [9 - 10] | 1,071.19 | 499.50 | (6,677.52) | 3,663.97 | (7,362.39) | |||
12 | Minority interest | (38.10) | 2.74 | 139.07 | (69.92) | 214.46 | |||
13 | Share of profit / (loss) of associates | 2.78 | 1.00 | 9.94 | 0.84 | 90.31 | |||
14 | Net Profit / (Loss) after taxes, minority interest and share of profit /(loss) of associates [ 11 + 12 + 13 ] | 1,035.87 | 503.24 | (6,528.51) | 3,594.89 | (7,057.62) | |||
15 | Paid-up equity share capital[Face value `10 per share] | 971.41 | 971.41 | 971.41 | 971.41 | 971.41 | |||
16 | Reserves excluding revaluation reserves | 39,560.55 | 33,200.83 | ||||||
17 | Basic earnings per share (not annualised) - in Rupees(after exceptional items) | 10.20 | 4.73 | (67.69) | 35.19 | (74.54) | |||
18 | Diluted earnings per share (not annualised) - in Rupees(after exceptional items) | 10.20 | 4.73 | (67.69) | 35.19 | (74.54) | |||
Consolidated Segment Revenue, Results and Capital Employed | |||||
`Crores | |||||
Particulars | Quarterended on31.03.2014 | Quarterended on31.12.2013 | Quarterended on31.03.2013 | Financial Yearended on31.03.2014 | Financial Year ended on 31.03.2013 |
Unaudited | Unaudited | Unaudited | Audited | Audited | |
Revenue by Business Segment: | |||||
Steel business | 40,573.36 | 35,079.59 | 32,922.08 | 1,42,115.87 | 1,27,620.83 |
Others | 3,995.37 | 3,597.76 | 3,327.25 | 14,346.56 | 14,541.07 |
Unallocated | 247.30 | 337.04 | 276.05 | 1,120.94 | 993.09 |
Total | 44,816.03 | 39,014.39 | 36,525.38 | 1,57,583.37 | 1,43,154.99 |
Less: Inter segment revenue | 2,387.98 | 2,278.57 | 1,874.91 | 8,969.82 | 8,443.45 |
Net sales / income from operations | 42,428.05 | 36,735.82 | 34,650.47 | 1,48,613.55 | 1,34,711.54 |
Segment results before finance costs, exceptional items and tax: | |||||
Steel business | 4,046.66 | 3,022.93 | 3,098.61 | 12,470.70 | 8,225.68 |
Others | 181.06 | 253.14 | 122.27 | 829.74 | 578.15 |
Unallocated income / (expenditure) | 452.54 | 417.80 | 618.59 | 1,835.59 | 2,201.44 |
Less: Inter segment eliminations | 1,029.35 | 1,191.30 | 1,007.95 | 4,049.43 | 3,780.23 |
Total Segment results before finance costs, exceptional items and tax | 3,650.91 | 2,502.57 | 2,831.52 | 11,086.60 | 7,225.04 |
Less: Finance costs | 1,169.35 | 1,108.42 | 994.74 | 4,336.83 | 3,968.11 |
Profit / (Loss) before exceptional items and tax | 2,481.56 | 1,394.15 | 1,836.78 | 6,749.77 | 3,256.93 |
Exceptional items: | |||||
Profit on sale of non current investments | - | 0.44 | 943.13 | 18.20 | 966.03 |
Provision for diminution in value of investments | (0.42) | - | - | (0.42) | - |
Provision for impairment of non-current assets | (45.42) | - | (8,355.91) | (45.42) | (8,355.91) |
Profit / (Loss) before tax | 2,435.72 | 1,394.59 | (5,576.00) | 6,722.13 | (4,132.95) |
Less: Tax expense | 1,364.53 | 895.09 | 1,101.52 | 3,058.16 | 3,229.44 |
Net Profit / (Loss) | 1,071.19 | 499.50 | (6,677.52) | 3,663.97 | (7,362.39) |
Segment Capital Employed: | |||||
Steel business | 1,05,554.03 | 1,07,001.48 | 85,989.85 | 1,05,554.03 | 85,989.85 |
Others | 4,306.79 | 5,402.24 | 5,123.65 | 4,306.79 | 5,123.65 |
Unallocated | (1,375.57) | (3,627.60) | 3,442.24 | (1,375.57) | 3,442.24 |
Inter segment eliminations | 3.41 | 36.89 | (19.94) | 3.41 | (19.94) |
Total | 1,08,488.66 | 1,08,813.01 | 94,535.80 | 1,08,488.66 | 94,535.80 |
Consolidated Statement of Assets & Liabilities | |||||||
` Crores | |||||||
Particulars | As at 31.03.2014 | As at 31.03.2013 | |||||
Audited | Audited | ||||||
A | EQUITY AND LIABILITIES | ||||||
(1) | Shareholders' funds | ||||||
(a) | Share capital | 971.41 | 971.41 | ||||
(b) | Reserves and surplus | 39,560.55 | 33,200.83 | ||||
Sub-total - Shareholders' funds | 40,531.96 | 34,172.24 | |||||
(2) | Share application money pending allotment | - | - | ||||
(3) | Preference shares issued by subsidiary companies | 20.00 | 21.21 | ||||
(4) | Hybrid Perpetual Securities | 2,275.00 | 2,275.00 | ||||
(5) | Minority interest | 1,737.72 | 1,669.36 | ||||
(6) | Non-current liabilities | ||||||
(a) | Long-term borrowings | 52,366.41 | 46,857.62 | ||||
(b) | Deferred tax liabilities (net) | 2,595.77 | 3,154.98 | ||||
(c) | Other long-term liabilities | 1,837.97 | 1,120.52 | ||||
(d) | Long-term provisions | 6,156.48 | 5,356.44 | ||||
Sub-total - Non current liabilities | 62,956.63 | 56,489.56 | |||||
(7) | Current liabilities | ||||||
(a) | Short-term borrowings | 16,026.18 | 10,547.56 | ||||
(b) | Trade payables | 22,912.87 | 19,339.59 | ||||
(c) | Other current liabilities | 21,986.35 | 19,454.98 | ||||
(d) | Short-term provisions | 3,197.74 | 2,943.29 | ||||
Sub-total - Current liabilities | 64,123.14 | 52,285.42 | |||||
TOTAL - EQUITY AND LIABILITIES | 1,71,644.45 | 1,46,912.79 | |||||
B | ASSETS | ||||||
(1) | Non-current assets | ||||||
(a) | Fixed assets | 85,980.58 | 69,213.24 | ||||
(b) | Goodwill on consolidation | 15,748.80 | 13,064.98 | ||||
(c) | Non-current investments | 2,425.07 | 2,497.37 | ||||
(d) | Deferred tax assets (net) | 40.77 | 36.49 | ||||
(e) | Long-term loans and advances | 8,781.73 | 7,097.65 | ||||
(f) | Other non current assets | 678.09 | 778.29 | ||||
Sub-total - Non current assets | 1,13,655.04 | 92,688.02 | |||||
(2) | Current assets | ||||||
(a) | Current investments | 2,668.40 | 760.29 | ||||
(b) | Inventories | 26,880.00 | 24,091.19 | ||||
(c) | Trade receivables | 16,005.77 | 13,993.96 | ||||
(d) | Cash and bank balances | 8,604.50 | 9,833.92 | ||||
(e) | Short-term loans and advances | 3,192.99 | 4,060.54 | ||||
(f) | Other current assets | 637.75 | 1,484.87 | ||||
Sub-total - Current assets | 57,989.41 | 54,224.77 | |||||
TOTAL - ASSETS | 1,71,644.45 | 1,46,912.79 | |||||
Notes:
1. The results have been reviewed by the Audit Committee in its meeting held on May 13, 2014 and were approved by the Board of Directors in its meeting of date.
2. 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/IND AS 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 statement of profit and loss, the consolidated profit after taxes, minority interest and share of profit of associates for the year ended March 31, 2014 would have been lower by `628.23 crores (`247.90 crores for the quarter) and the consolidated loss after taxes, minority interest and share of profit of associates for the year ended March 31, 2013 would have been higher by `317.26 crores (lower by `1,504.80 crores for the quarter).
3. Pursuant to the sanction of the Honourable High Court of Bombay to the Scheme of Amalgamation, the assets and liabilities of the erstwhile Kalimati Investment Company Limited (KICL) whose principal business was of carrying on the business of investment and finance, and registered as a non-banking financial company with the Reserve Bank of India, has been merged with the Company with effect from the appointed date of January 1, 2013 in accordance with the scheme so sanctioned. Accordingly, the stand-alone results for the current quarter include financial results of KICL from April 1, 2013. Figures for the current quarter/year are not comparable to those of the previous quarter/year.
4. Figures for the quarter ended March 31, 2014 and March 31, 2013 represent the difference between the audited figures in respect of the full financial years and the published figures of nine months ended December 31, 2013 and December 31, 2012 respectively.
5. Figures for the previous periods have been regrouped and reclassified to conform to the classification of the current period, where necessary.
6. The Board of Directors has recommended a dividend of ` 10 per share on Ordinary Shares of `10 each for the financial year 2013-14.
7. The Annual General Meeting of the Company will be held on August 14, 2014 to consider the accounts for the financial year 2013-14.
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Tata Steel Limited
Sd/-
Cyrus P Mistry
Mumbai: May 14, 2014 Chairman