Tata Steel Regulatory News (TTST)

Standalone Financial Results for the Quarter / Nine Months ended on 31st December 2014

PART I

₹Crores

Particulars

Quarterended on31.12.2014

Quarterended on30.09.2014

Quarterended on31.12.2013

Nine Months ended on 31.12.2014

Nine Months ended on 31.12.2013

Financial Year ended on 31.03.2014

Audited

Audited

Audited

Audited

Audited

Audited

1

Income from operations

a)

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

9,820.70

10,700.98

10,040.37

30,899.41

29,229.32

41,271.24

b)

Other operating income

76.08

84.09

103.01

250.70

290.49

439.79

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

9,896.78

10,785.07

10,143.38

31,150.11

29,519.81

41,711.03

2

Expenses

a)

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

(662.00)

(304.18)

36.47

(1,309.64)

(451.59)

(155.18)

b)

Purchases of finished, semi-finished steel & other products

231.71

176.27

64.84

475.90

298.63

352.63

c)

Raw materials consumed

3,709.08

2,721.71

2,215.05

8,994.78

6,934.48

9,677.71

d)

Employee benefits expense

1,167.41

1,143.33

903.95

3,441.00

2,884.06

3,673.08

e)

Purchase of power

536.61

677.45

637.52

1,935.34

1,946.93

2,564.61

f)

Freight and handling charges

727.17

693.97

716.64

2,112.06

1,985.47

2,755.08

g)

Depreciation and amortisation expense

457.30

474.57

456.46

1,425.13

1,467.07

1,928.70

h)

Other expenses

2,206.89

2,582.39

2,633.03

7,170.77

7,213.70

10,026.20

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

8,374.17

8,165.51

7,663.96

24,245.34

22,278.75

30,822.83

3

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

1,522.61

2,619.56

2,479.42

6,904.77

7,241.06

10,888.20

4

Other income

108.29

262.39

264.82

514.18

734.69

787.64

5

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

1,630.90

2,881.95

2,744.24

7,418.95

7,975.75

11,675.84

6

Finance costs

462.44

488.80

452.92

1,443.58

1,355.94

1,820.58

7

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

1,168.46

2,393.15

2,291.32

5,975.37

6,619.81

9,855.26

8

Exceptional items :

a)

Profit on sale of non current investments

-

-

-

787.96

-

-

b)

Profit on sale of non current assets

-

1,146.86

-

1,146.86

-

-

c)

Provision for diminution in value of investments/doubtful advances

-

-

-

-

-

(141.76)

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

-

1,146.86

-

1,934.82

-

(141.76)

9

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

1,168.46

3,540.01

2,291.32

7,910.19

6,619.81

9,713.50

10

Tax expense

a)

Current tax

293.61

1,035.70

700.16

2,222.58

2,101.41

3,098.02

b)

Deferred tax

(5.79)

27.90

72.39

62.58

84.85

203.29

Total tax expense [10(a) + 10(b)]

287.82

1,063.60

772.55

2,285.16

2,186.26

3,301.31

11

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

880.64

2,476.41

1,518.77

5,625.03

4,433.55

6,412.19

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

60,176.58

14

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

8.61

25.04

15.18

56.55

44.29

64.21

15

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

8.61

25.04

15.18

56.55

44.29

64.21

PART II

Select information for the Quarter ended on 31st December 2014

Quarterended on31.12.2014

Quarterended on30.09.2014

Quarterended on31.12.2013

Nine Months ended on 31.12.2014

Nine Months ended on 31.12.2013

Financial Year ended on 31.03.2014

A

Particulars of Shareholding

1

Aggregate of public shareholding

Number of shares

64,99,53,363

64,93,36,002

63,78,20,006

64,99,53,363

63,78,20,006

63,78,25,723

% of shareholding

68.10%

68.07%

67.69%

68.10%

67.69%

67.69%

2

Promoters and promoter group shareholding

a)

Pledged / encumbered

- Number of shares

2,74,00,000

2,74,00,000

2,00,00,000

2,74,00,000

2,00,00,000

2,24,00,000

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

9.00%

9.00%

6.57%

9.00%

6.57%

7.36%

- % of shares to total share capital of the company

2.82%

2.82%

2.06%

2.82%

2.06%

2.31%

b)

Non-encumbered

- Number of shares

27,71,14,362

27,71,14,362

28,45,14,362

27,71,14,362

28,45,14,362

28,21,14,362

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

91.00%

91.00%

93.43%

91.00%

93.43%

92.64%

- % of shares to total share capital of the company

28.53%

28.53%

29.29%

28.53%

29.29%

29.04%

Particulars

Quarterended on31.12.2014

B

Investor complaints

Pending at the beginning of the Quarter

15

Received during the quarter

22

Disposed off during the quarter

30

Remaining unresolved at the end of the quarter

7

Of the total 7 unresolved complaints, 4 complaints were subsequently resolved

Standalone Segment Revenue, Results and Capital Employed

₹Crores

Particulars

Quarterended on31.12.2014

Quarterended on30.09.2014

Quarterended on31.12.2013

Nine Months ended on 31.12.2014

Nine Months ended on 31.12.2013

Financial year ended on 31.03.2014

Audited

Audited

Audited

Audited

Audited

Audited

Revenue by Business Segment:

Steel business

9,652.32

10,388.13

9,299.21

30,007.51

27,383.63

38,688.35

Ferro Alloys and Minerals

192.78

299.44

808.30

939.57

2,096.40

2,921.66

Others

590.40

618.37

529.18

1,798.03

1,592.74

2,209.58

Total

10,435.50

11,305.94

10,636.69

32,745.11

31,072.77

43,819.59

Less: Inter segment revenue

538.72

520.87

493.31

1,595.00

1,552.96

2,108.56

Net sales / income from operations

9,896.78

10,785.07

10,143.38

31,150.11

29,519.81

41,711.03

Segment results before finance costs, exceptional items and tax:

Steel business

1,741.61

2,785.83

2,454.47

7,329.13

7,271.59

10,724.95

Ferro Alloys and Minerals

(19.85)

55.68

227.06

141.84

544.81

800.74

Others

6.96

11.67

9.71

35.07

18.76

43.25

Unallocated income / (expenditure)

(97.82)

28.77

53.00

(87.09)

140.59

106.90

Total Segment results before finance costs, exceptional items and tax

1,630.90

2,881.95

2,744.24

7,418.95

7,975.75

11,675.84

Less: Finance costs

462.44

488.80

452.92

1,443.58

1,355.94

1,820.58

Profit / (Loss) before exceptional items and tax

1,168.46

2,393.15

2,291.32

5,975.37

6,619.81

9,855.26

Exceptional items:

Profit on sale of non current investments

-

-

-

787.96

-

-

Profit on sale of non current assets

-

1,146.86

-

1,146.86

-

-

Provision for diminution in value of investments/doubtful advances

-

-

-

-

-

(141.76)

Profit / (Loss) before tax

1,168.46

3,540.01

2,291.32

7,910.19

6,619.81

9,713.50

Less: Tax expense

287.82

1,063.60

772.55

2,285.16

2,186.26

3,301.31

Net Profit / (Loss)

880.64

2,476.41

1,518.77

5,625.03

4,433.55

6,412.19

Segment Capital Employed:

Steel business

45,516.83

43,212.21

35,899.28

45,516.83

35,899.28

38,860.47

Ferro Alloys and Minerals

256.25

288.86

256.70

256.25

256.70

288.96

Others

152.59

141.45

182.09

152.59

182.09

131.36

Unallocated

(843.75)

665.57

621.85

(843.75)

621.85

(83.16)

Total

45,081.92

44,308.09

36,959.92

45,081.92

36,959.92

39,197.63

Consolidated Financial Results for the Quarter / Nine Months ended on 31st December 2014

PART I

₹Crores

Particulars

Quarterended on31.12.2014

Quarterended on30.09.2014

Quarterended on31.12.2013

Nine Months ended on 31.12.2014

Nine Months ended on 31.12.2013

Financial Year ended on 31.03.2014

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

1

Income from operations

a)

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

33,323.84

35,503.25

36,409.80

1,04,970.36

1,05,329.65

1,47,347.28

b)

Other operating income

309.39

273.86

326.02

867.19

855.85

1,266.27

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

33,633.23

35,777.11

36,735.82

1,05,837.55

1,06,185.50

1,48,613.55

2

Expenses

a)

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

(511.91)

33.38

(1,508.37)

(1,071.17)

(2,789.86)

(514.67)

b)

Purchases of finished, semi-finished steel & other products

3,548.77

3,667.32

4,790.15

11,344.89

12,769.68

17,008.21

c)

Raw materials consumed

10,553.44

10,395.72

11,632.73

31,959.28

33,640.31

46,242.98

d)

Employee benefits expense

4,952.74

5,401.71

4,986.01

15,988.73

14,948.06

20,303.41

e)

Purchase of power

1,343.53

1,527.90

1,405.25

4,478.10

4,440.58

6,035.77

f)

Freight and handling charges

2,129.83

2,190.48

2,232.95

6,510.59

6,364.27

9,007.92

g)

Depreciation and amortisation expense

1,451.09

1,429.51

1,522.09

4,430.88

4,369.35

5,841.22

h)

Other expenses

8,539.44

8,917.78

9,190.56

25,634.35

25,412.53

34,118.92

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

32,006.93

33,563.80

34,251.37

99,275.65

99,154.92

1,38,043.76

3

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

1,626.30

2,213.31

2,484.45

6,561.90

7,030.58

10,569.79

4

Other income

119.11

321.52

18.12

656.77

405.11

516.81

5

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

1,745.41

2,534.83

2,502.57

7,218.67

7,435.69

11,086.60

6

Finance costs

1,167.41

1,232.78

1,108.42

3,652.56

3,167.48

4,336.83

7

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

578.00

1,302.05

1,394.15

3,566.11

4,268.21

6,749.77

8

Exceptional items :

a)

Profit on sale of non current investments

-

(1.85)

0.44

1,312.32

18.20

18.20

b)

Profit on sale of non current assets

-

1,146.86

-

1,146.86

-

-

c)

Provision for diminution in value of investments

-

-

-

-

-

(0.42)

d)

Provision for impairment of non-current assets

-

-

-

(1,576.65)

-

(45.42)

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

-

1,145.01

0.44

882.53

18.20

(27.64)

9

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

578.00

2,447.06

1,394.59

4,448.64

4,286.41

6,722.13

10

Tax expense

a)

Current tax

306.21

1,130.19

818.77

2,463.18

2,422.57

3,482.64

b)

MAT credit

-

-

-

-

-

(0.21)

c)

Deferred tax

140.47

44.58

76.32

238.68

(728.94)

(424.27)

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

446.68

1,174.77

895.09

2,701.86

1,693.63

3,058.16

11

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

131.32

1,272.29

499.50

1,746.78

2,592.78

3,663.97

12

Minority interest

15.63

(3.34)

2.74

(2.11)

(31.82)

(69.92)

13

Share of profit / (loss) of associates

10.16

(14.62)

1.00

4.10

(1.94)

0.84

14

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

157.11

1,254.33

503.24

1,748.77

2,559.02

3,594.89

15

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

971.41

971.41

971.41

971.41

971.41

971.41

16

Reserves excluding revaluation reserves

39,560.55

17

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

1.16

12.46

4.73

16.64

24.99

35.19

18

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

1.16

12.46

4.73

16.64

24.99

35.19

Consolidated Segment Revenue, Results and Capital Employed

₹Crores

Particulars

Quarterended on31.12.2014

Quarterended on30.09.2014

Quarterended on31.12.2013

Nine Months ended on 31.12.2014

Nine Months ended on 31.12.2013

Financial Yearended on 31.03.2014

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

Revenue by Business Segment:

Steel business

32,524.61

34,582.74

35,079.59

1,02,067.84

1,01,542.51

1,42,115.87

Others

2,945.41

2,869.67

3,597.76

9,215.71

10,351.19

14,346.56

Unallocated

394.02

338.41

337.04

1,069.85

873.64

1,120.94

Total

35,864.04

37,790.82

39,014.39

1,12,353.40

1,12,767.34

1,57,583.37

Less: Inter segment revenue

2,230.81

2,013.71

2,278.57

6,515.85

6,581.84

8,969.82

Net sales / income from operations

33,633.23

35,777.11

36,735.82

1,05,837.55

1,06,185.50

1,48,613.55

Segment results before finance costs, exceptional items and tax:

Steel business

2,417.10

3,099.43

3,022.93

8,785.21

8,424.04

12,470.70

Others

(45.89)

(45.92)

253.14

17.26

648.68

829.74

Unallocated income / (expenditure)

647.85

1,401.47

417.80

2,649.08

1,383.05

1,835.59

Less: Inter segment eliminations

1,273.65

1,920.15

1,191.30

4,232.88

3,020.08

4,049.43

Total Segment results before finance costs, exceptional items and tax

1,745.41

2,534.83

2,502.57

7,218.67

7,435.69

11,086.60

Less: Finance costs

1,167.41

1,232.78

1,108.42

3,652.56

3,167.48

4,336.83

Profit / (Loss) before exceptional items and tax

578.00

1,302.05

1,394.15

3,566.11

4,268.21

6,749.77

Exceptional items:

Profit on sale of non current investments

-

(1.85)

0.44

1,312.32

18.20

18.20

Profit on sale of non current assets

-

1,146.86

-

1,146.86

-

-

Provision for diminution in value of investments

-

-

-

-

-

(0.42)

Provision for impairment of non-current assets

-

-

-

(1,576.65)

-

(45.42)

Profit / (Loss) before tax

578.00

2,447.06

1,394.59

4,448.64

4,286.41

6,722.13

Less: Tax expense

446.68

1,174.77

895.09

2,701.86

1,693.63

3,058.16

Net Profit / (Loss)

131.32

1,272.29

499.50

1,746.78

2,592.78

3,663.97

Segment Capital Employed:

Steel business

1,07,473.80

1,06,267.17

1,07,001.48

1,07,473.80

1,07,001.48

1,05,554.03

Others

2,602.33

2,688.23

5,402.24

2,602.33

5,402.24

4,306.79

Unallocated

(1,424.34)

157.15

(3,627.60)

(1,424.34)

(3,627.60)

(1,375.57)

Inter segment eliminations

77.42

(100.90)

36.89

77.42

36.89

3.41

Total

1,08,729.21

1,09,011.65

1,08,813.01

1,08,729.21

1,08,813.01

1,08,488.66