Tata Steel Regulatory News (TTST)

Standalone Financial Results for the Nine Months ended on 31st December 2015

₹ Crores

Particulars

Quarterended on31.12.2015

Quarterended on30.09.2015

Quarterended on31.12.2014

Nine Months ended on 31.12.2015

Nine Months ended on 31.12.2014

Financial Year ended on 31.03.2015

Audited

Audited

Audited

Audited

Audited

Audited

1

Income from operations

a)

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

8,991.35

9,445.71

9,824.46

27,442.95

30,911.14

41,433.82

b)

Other operating income

72.53

85.37

72.32

245.72

238.97

351.18

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

9,063.88

9,531.08

9,896.78

27,688.67

31,150.11

41,785.00

2

Expenses

a)

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

(173.12)

(132.00)

(662.00)

(503.38)

(1,309.64)

(715.94)

b)

Purchases of finished, semi-finished steel & other products

333.35

197.52

231.71

767.30

475.90

688.32

c)

Raw materials consumed

2,340.60

2,870.93

3,709.08

7,541.23

8,994.78

11,678.60

d)

Employee benefits expense

1,139.19

1,085.14

1,164.79

3,306.67

3,433.85

4,601.92

e)

Purchase of power

673.52

668.46

536.61

2,036.28

1,935.34

2,570.16

f)

Freight and handling charges

777.82

707.22

727.17

2,180.39

2,112.06

2,883.32

g)

Depreciation and amortisation expense

490.93

481.03

457.30

1,440.20

1,425.13

1,997.59

h)

Other expenses

2,474.41

2,272.24

2,209.51

7,311.81

7,177.92

10,069.82

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

8,056.70

8,150.54

8,374.17

24,080.50

24,245.34

33,773.79

3

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

1,007.18

1,380.54

1,522.61

3,608.17

6,904.77

8,011.21

4

Other income

82.86

2,932.69

108.29

3,764.39

514.18

582.78

5

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

1,090.04

4,313.23

1,630.90

7,372.56

7,418.95

8,593.99

6

Finance costs

350.09

331.28

462.44

1,077.34

1,443.58

1,975.95

7

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

739.95

3,981.95

1,168.46

6,295.22

5,975.37

6,618.04

8

Exceptional items :

a)

Profit / (Loss) on sale of non current investments

-

(1.58)

-

104.29

787.96

806.10

b)

Profit on sale of non current assets

-

-

-

-

1,146.86

1,146.86

c)

Provision for diminution in value of investments/doubtful advances

(15.43)

(95.59)

-

(111.02)

-

(198.40)

d)

(Provision)/ Reversal of impairment of non-current assets

-

(51.51)

-

(51.51)

-

136.29

e)

Provision for demands and claims

-

(880.05)

-

(880.05)

-

-

f)

Employee separation compensation

(24.27)

(292.78)

-

(317.05)

-

-

Total exceptional items [8(a) to 8(f)]

(39.70)

(1,321.51)

-

(1,255.34)

1,934.82

1,890.85

9

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

700.25

2,660.44

1,168.46

5,039.88

7,910.19

8,508.89

10

Tax expense

a)

Current tax

199.20

579.10

293.61

1,168.64

2,222.58

1,908.60

b)

MAT credit

(1.58)

(264.31)

-

(315.51)

-

(117.21)

c)

Deferred tax

49.81

(177.27)

(5.79)

(37.60)

62.58

278.38

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

247.43

137.52

287.82

815.53

2,285.16

2,069.77

11

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

452.82

2,522.92

880.64

4,224.35

5,625.03

6,439.12

12

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

971.41

971.41

971.41

971.41

971.41

971.41

13

Reserves excluding revaluation reserves

65,692.48

14

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

4.21

25.53

8.61

42.15

56.55

64.49

15

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

4.21

25.53

8.61

42.15

56.55

64.49

Standalone Segment Revenue, Results and Capital Employed

₹ Crores

Particulars

Quarterended on31.12.2015

Quarterended on30.09.2015

Quarterended on31.12.2014

Nine Months ended on 31.12.2015

Nine Months ended on 31.12.2014

Financial Year ended on 31.03.2015

Audited

Audited

Audited

Audited

Audited

Audited

Revenue by Business Segment:

Steel business

8,517.44

9,165.44

9,652.32

26,450.57

30,007.51

40,343.85

Ferro Alloys and Minerals

509.56

299.45

192.78

1,083.98

939.57

1,154.89

Others

503.66

531.10

590.40

1,574.38

1,798.03

2,378.39

Total

9,530.66

9,995.99

10,435.50

29,108.93

32,745.11

43,877.13

Less: Inter segment revenue

466.78

464.91

538.72

1,420.26

1,595.00

2,092.13

Net sales / income from operations

9,063.88

9,531.08

9,896.78

27,688.67

31,150.11

41,785.00

Segment results before finance costs, exceptional items and tax: 

Steel business

1,086.42

1,444.72

1,777.58

3,845.62

7,419.66

8,749.47

Ferro Alloys and Minerals

36.54

27.03

(18.30)

71.87

146.63

108.79

Others

17.32

15.10

6.96

39.22

35.07

48.64

Unallocated income / (expenditure)

(50.24)

2,826.38

(135.34)

3,415.85

(182.41)

(312.91)

Total Segment results before finance costs, exceptional items and tax

1,090.04

4,313.23

1,630.90

7,372.56

7,418.95

8,593.99

Less: Finance costs

350.09

331.28

462.44

1,077.34

1,443.58

1,975.95

Profit / (Loss) before exceptional items and tax

739.95

3,981.95

1,168.46

6,295.22

5,975.37

6,618.04

Exceptional items:

Profit / (Loss) on sale of non current investments

-

(1.58)

-

104.29

787.96

806.10

Profit on sale of non current assets

-

-

-

-

1,146.86

1,146.86

Provision for diminution in value of investments/doubtful advances

(15.43)

(95.59)

-

(111.02)

-

(198.40)

(Provision)/ Reversal of impairment of non-current assets

-

(51.51)

-

(51.51)

-

136.29

Provision for demands and claims

-

(880.05)

-

(880.05)

-

-

Employee Separation Compensation

(24.27)

(292.78)

-

(317.05)

-

-

Profit / (Loss) before tax

700.25

2,660.44

1,168.46

5,039.88

7,910.19

8,508.89

Less: Tax expense

247.43

137.52

287.82

815.53

2,285.16

2,069.77

Net Profit / (Loss)

452.82

2,522.92

880.64

4,224.35

5,625.03

6,439.12

Segment Capital Employed:

Steel business

49,080.11

48,175.06

45,509.65

49,080.11

45,509.65

47,257.07

Ferro Alloys and Minerals

251.98

365.52

255.99

251.98

255.99

266.32

Others

59.59

71.64

152.59

59.59

152.59

107.51

Unallocated

(420.73)

(540.89)

(836.31)

(420.73)

(836.31)

(855.12)

Total

48,970.95

48,071.33

45,081.92

48,970.95

45,081.92

46,775.78

Consolidated Financial Results for the Nine Months ended on 31st December 2015

₹ Crores

Particulars

Quarterended on31.12.2015

Quarterended on30.09.2015

Quarterended on31.12.2014

Nine Months ended on 31.12.2015

Nine Months ended on 31.12.2014

Financial Year ended on 31.03.2015

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

1

Income from operations

a)

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

27,818.73

29,068.54

33,327.61

86,787.37

1,04,982.10

1,38,318.91

b)

Other operating income

220.29

236.15

305.62

856.67

855.45

1,184.82

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

28,039.02

29,304.69

33,633.23

87,644.04

1,05,837.55

1,39,503.73

2

Expenses

a)

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

956.66

114.12

(511.91)

551.12

(1,071.17)

1,122.18

b)

Purchases of finished, semi-finished steel & other products

2,431.88

2,392.04

3,548.77

7,666.30

11,344.89

13,804.22

c)

Raw materials consumed

7,624.80

8,783.73

10,553.44

25,130.88

31,959.28

40,741.04

d)

Employee benefits expense

4,964.63

4,990.45

4,950.12

14,850.83

15,981.58

21,407.64

e)

Purchase of power

1,317.13

1,378.96

1,343.53

4,144.56

4,478.10

5,913.28

f)

Freight and handling charges

1,988.49

2,044.93

2,129.83

6,064.45

6,510.59

8,811.41

g)

Depreciation and amortisation expense

1,132.66

1,370.80

1,451.09

3,849.96

4,430.88

5,943.60

h)

Other expenses

7,979.75

7,769.97

8,542.06

23,855.49

25,641.50

35,168.21

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

28,396.00

28,845.00

32,006.93

86,113.59

99,275.65

1,32,911.58

3

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

(356.98)

459.69

1,626.30

1,530.45

6,561.90

6,592.15

4

Other income

96.16

2,938.19

119.11

3,796.52

656.77

796.18

5

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

(260.82)

3,397.88

1,745.41

5,326.97

7,218.67

7,388.33

6

Finance costs

964.08

1,048.74

1,167.41

3,110.85

3,652.56

4,847.75

7

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

(1,224.90)

2,349.14

578.00

2,216.12

3,566.11

2,540.58

8

Exceptional items :

a)

Profit / (Loss) on sale of non current investments

-

21.52

-

179.95

1,312.32

1,315.34

b)

Profit on sale of non current assets

-

-

-

-

1,146.86

1,146.86

c)

Provision for diminution in value of investments/doubtful advances

-

(90.69)

-

(90.69)

-

(338.30)

d)

Provision for impairment of non-current assets

(72.11)

(7,924.30)

-

(7,996.41)

(1,576.65)

(6,052.57)

e)

Provision for demands and claims

-

(880.05)

-

(880.05)

-

-

f)

Employee separation compensation

(24.27)

(292.78)

-

(317.05)

-

-

g)

Restructuring and other provisions

(615.39)

8,602.56

-

7,987.17

-

-

Total exceptional items [8(a) to 8(g)]

(711.77)

(563.74)

-

(1,117.08)

882.53

(3,928.67)

9

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

(1,936.67)

1,785.40

578.00

1,099.04

4,448.64

(1,388.09)

10

Tax expense

a)

Current tax

177.79

615.98

306.21

1,246.42

2,463.18

2,214.71

b)

MAT credit

(2.49)

(264.44)

-

(316.74)

-

(117.32)

c)

Deferred tax

68.10

(111.37)

140.47

69.26

238.68

470.02

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

243.40

240.17

446.68

998.94

2,701.86

2,567.41

11

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

(2,180.07)

1,545.23

131.32

100.10

1,746.78

(3,955.50)

12

Minority interest

30.97

(0.84)

15.63

36.91

(2.11)

13.29

13

Share of profit / (loss) of associates

21.87

(15.68)

10.16

27.43

4.10

16.69

14

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

(2,127.23)

1,528.71

157.11

164.44

1,748.77

(3,925.52)

15

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

970.24

970.24

971.41

970.24

971.41

971.41

16

Reserves excluding revaluation reserves

30,378.00

17

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

(22.38)

15.31

1.16

0.35

16.64

(42.24)

18

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

(22.38)

15.31

1.16

0.35

16.64

(42.24)

Consolidated Segment Revenue, Results and Capital Employed

₹ Crores

Particulars

Quarterended on31.12.2015

Quarterended on30.09.2015

Quarterended on31.12.2014

Nine Months ended on 31.12.2015

Nine Months ended on 31.12.2014

Financial Year ended on 31.03.2015

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

Revenue by Business Segment:

Steel business

26,821.56

28,396.10

32,524.61

84,483.39

1,02,067.84

1,34,407.07

Others

2,621.64

2,441.19

2,945.41

7,900.67

9,215.71

12,419.88

Unallocated

137.57

253.33

394.02

681.57

1,069.85

1,448.14

Total

29,580.77

31,090.62

35,864.04

93,065.63

1,12,353.40

1,48,275.09

Less: Inter segment revenue

1,541.75

1,785.93

2,230.81

5,421.59

6,515.85

8,771.36

Net sales / income from operations

28,039.02

29,304.69

33,633.23

87,644.04

1,05,837.55

1,39,503.73

Segment results before finance costs, exceptional items and tax:

Steel business

(81.23)

986.59

2,453.07

2,642.61

8,875.75

9,500.78

Others

26.37

(161.26)

(44.33)

(142.62)

22.05

27.65

Unallocated income / (expenditure)

1,201.32

3,893.36

610.32

6,738.61

2,553.75

5,205.02

Less: Inter segment eliminations

1,407.28

1,320.81

1,273.65

3,911.63

4,232.88

7,345.12

Total Segment results before finance costs, exceptional items and tax

(260.82)

3,397.88

1,745.41

5,326.97

7,218.67

7,388.33

Less: Finance costs

964.08

1,048.74

1,167.41

3,110.85

3,652.56

4,847.75

Profit / (Loss) before exceptional items and tax

(1,224.90)

2,349.14

578.00

2,216.12

3,566.11

2,540.58

Exceptional items:

Profit / (Loss) on sale of non current investments

-

21.52

-

179.95

1,312.32

1,315.34

Profit on sale of non current assets

-

-

-

-

1,146.86

1,146.86

Provision for diminution in value of investments/doubtful advances

-

(90.69)

-

(90.69)

-

(338.30)

Provision for impairment of non-current assets

(72.11)

(7,924.30)

-

(7,996.41)

(1,576.65)

(6,052.57)

Provision for demands and claims

-

(880.05)

-

(880.05)

-

-

Employee separation compensation

(24.27)

(292.78)

-

(317.05)

-

-

Restructuring and other provisions

(615.39)

8,602.56

-

7,987.17

-

-

Profit / (Loss) before tax

(1,936.67)

1,785.40

578.00

1,099.04

4,448.64

(1,388.09)

Less: Tax expense

243.40

240.17

446.68

998.94

2,701.86

2,567.41

Net Profit / (Loss)

(2,180.07)

1,545.23

131.32

100.10

1,746.78

(3,955.50)

Segment Capital Employed:

Steel business

95,736.62

96,936.52

1,07,387.91

95,736.62

1,07,387.91

1,04,754.17

Others

2,458.60

2,577.24

2,601.16

2,458.60

2,601.16

2,774.85

Unallocated

6,224.46

5,609.60

(1,416.89)

6,224.46

(1,416.89)

(4,867.87)

Inter segment eliminations

117.11

127.17

157.03

117.11

157.03

(33.77)

Total

1,04,536.79

1,05,250.53

1,08,729.21

1,04,536.79

1,08,729.21

1,02,627.38