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Quarterly results
Audited financial results for
the year ended March 31, 2002
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(Rs crore)
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| |
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Unaudited figures
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Audited figures
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|
Sr.
no
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Particulars
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Nine months ended 31.12.2001
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Quarter ended 31.3.2002
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Quarter ended 31.3.2001
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Financial year ended
31.03.2002
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Financial year ended
31.03.2001
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1
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Net sales / income
from operations
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1,066.61
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414.71
|
340.63
|
1,481.32
|
1,502.14
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|
2
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Expenditure
|
|
|
|
|
|
|
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a)
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(Increase) / decrease
in
stock-in-trade
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(11.16)
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39.66
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44.17
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28.50
|
0.91
|
|
|
b)
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Consumption of raw
materials
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183.74
|
52.51
|
47.70
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235.95
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284.91
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|
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c)
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Staff cost
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45.61
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14.74
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14.59
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60.35
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62.51
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|
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d)
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Stores, spare parts
and consumables
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87.86
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30.66
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28.36
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118.52
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128.58
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|
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e)
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Power and fuel
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177.57
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52.42
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51.73
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229.99
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270.61
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|
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f)
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Other expenditure
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273.81
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110.96
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121.32
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384.77
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415.47
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|
|
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Total expenditure
(2a to 2f)
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757.43
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300.65
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307.87
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1,058.08
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1,162.99
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3
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Profit from operations (1-2)
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309.18
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114.06
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32.76
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423.24
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339.15
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4
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Other income
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|
|
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a)
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Profit on sale of
investments
(refer note 1 (ii))
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2.04
|
0.94
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(0.59)
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2.98
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218.97
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|
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b)
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Others
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23.70
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8.05
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(6.59)
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31.75
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13.00
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5
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Interest (net )
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92.86
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17.09
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39.17
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109.95
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162.16
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6
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Profit after Interest
but before depreciation, extraordinary Items and tax
(3+4-5)
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242.06
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105.96
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(13.59)
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348.02
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408.96
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|
7
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Depreciation
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98.67
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34.54
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32.38
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133.21
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132.84
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|
8
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Profit before extraordinary items and
tax (6-7)
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143.39
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71.42
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(45.97)
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214.81
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276.12
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9
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Extraordinary items
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|
|
|
|
|
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a)
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Employees' separation
compensation
|
10.75
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4.00
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3.35
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14.75
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13.03
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|
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b)
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Provision for contingencies
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-
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-
|
77.00
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-
|
77.00
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|
10
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Profit before tax (8 - 9) (Refer note
2)
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132.64
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67.42
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(126.32)
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200.06
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186.09
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|
11
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Provision for tax
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|
|
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|
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Current
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26.05
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13.45
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4.14
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39.50
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21.14
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|
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Deferred
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3.89
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29.85
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-
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33.74
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-
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|
12
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Profit after tax (10- 11) (Refer note
2)
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102.70
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24.12
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(130.46)
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126.82
|
164.95
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|
13
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Paid-up equity Share
capital
(Face value: Rs 10 per share)
|
180.70
|
180.70
|
180.70
|
180.70
|
180.70
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|
14
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Reserves excluding
revaluation reserves
|
|
|
|
1,370.66
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1,764.74
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|
15
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Basic and diluted earnings -- Rs per
share (not annualised)
|
5.68
|
1.33
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(7.22)
|
7.02
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9.13
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16
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Aggregate of non
promoter shareholding
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|
|
|
|
|
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- Number of shares
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125,896,761
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125,949,117
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125,896,761
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125,949,117
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126,262,051
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|
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- Percentage of
holding
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69.70%
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69.72%
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69.70%
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69.72%
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69.89%
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Notes:
- (i) Despite
the fire of March 2, 2001, which disrupted the operations
at Mithapur for several months, the profit from operations
for the year 2001-02 is higher than that of the previous
year.
(ii) The financial results for the previous year included
a profit of Rs 205 crore, under the head 'Other income'
consequent to merger of Sabras Investment and Trading Co
Ltd with the company representing capital gains earned by
Sabras on sale of investments. Hence the profit before tax
for the year is not comparable to that of the previous year.
(iii) Pursuant to standard on 'Accounting for taxes on income'
the company has recorded a net cumulative deferred tax liability
of Rs 430.57 crore upto March 31, 2001 as reduction in general
reserve.
Further the impact of deferred tax liability of Rs 33.74
crore for the year ended March 31, 2002 has been debited
to the profit and loss account. Therefore, the profit after
tax for the year is not comparable with that of the previous
year.
- Pending fixation of final retention
price by the government, revenue from sale of urea is recognised
on the basis of provisional retention price notified by
the government. Claims for escalation on input costs have
been taken into account pending final issuance of government
notification.
The auditors
have qualified their report on the accounts for the year
ended March 31, 2002, as in the earlier years, stating
that the consequential impact of the above cannot be ascertained
on account of the uncertainties associated with the fixation
of the final retention price. The government is likely
to finalise the retention price during the current financial
year.
- An interim dividend of Rs 5 per
share for the year 2001-02 was declared by the board at
its meeting held on May 20, 2002, which will be paid on
or before June 19, 2002. In view of the interim dividend
it has been decided not to recommend any final dividend.
This has been taken on record in
the board meeting of Tata Chemicals Limited.
Place: Mumbai
Date: May 31, 2002
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Ratan N Tata
Chairman
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