|
Quarterly results
Unaudited financial results for the
quarter ended December 31, 2001.
|
Rupees - crore
|
|
Sr.
no
|
Particulars
|
Quarter ended
December 31
|
Nine months ended December 31
|
Previous year ended
March 31, 2001 (audited)
|
| |
|
2001
|
2000
|
2001
|
2000
|
|
|
1
|
Net sales / income
from operations
|
387.94
|
376.89
|
1,066.27
|
1,161.51
|
1,493.15
|
|
2
|
Expenditure
|
|
|
|
|
|
|
|
a)
|
(Increase) / decrease
in
stock-in-trade
|
(10.07)
|
(41.05)
|
(11.16)
|
(43.26)
|
0.91
|
|
|
b)
|
Consumption of raw
materials
|
65.61
|
81.30
|
183.74
|
237.21
|
284.91
|
|
|
c)
|
Staff cost
|
14.78
|
21.22
|
45.61
|
47.92
|
62.51
|
|
|
d)
|
Stores, spare parts
and consumables
|
33.38
|
33.37
|
87.86
|
100.22
|
128.58
|
|
|
e)
|
Power and fuel
|
63.00
|
71.66
|
177.57
|
218.88
|
270.61
|
|
|
f)
|
Excise duty
|
23.20
|
27.99
|
56.58
|
71.15
|
87.90
|
|
|
g)
|
Other expenditure
|
75.04
|
68.51
|
217.23
|
223.00
|
327.57
|
|
|
|
Total expenditure
(2a to 2g)
|
264.94
|
263.00
|
757.43
|
855.12
|
1,162.99
|
|
3
|
Profit from operations (1-2)
|
123.00
|
113.89
|
308.84
|
306.39
|
330.16
|
|
4
|
Other income
|
|
|
|
|
|
|
|
a)
|
Profit on sale of
investments
(refer note 2)
|
0.44
|
205.04
|
2.04
|
219.56
|
218.97
|
|
|
b)
|
Others
|
4.97
|
15.29
|
23.70
|
19.59
|
13.00
|
|
5
|
Interest (net )
|
30.60
|
35.75
|
92.52
|
122.99
|
153.17
|
|
6
|
Profit after interest
but before depreciation, extraordinary items and tax
(3+4-5)
|
97.81
|
298.47
|
242.06
|
422.55
|
408.96
|
|
7
|
Depreciation
|
32.78
|
33.42
|
98.67
|
100.46
|
132.84
|
|
8
|
Profit before extraordinary items and
tax (6-7)
|
65.03
|
265.05
|
143.39
|
322.09
|
276.12
|
|
9
|
Extraordinary items
|
|
|
|
|
|
|
|
a)
|
Employees' separation
compensation
|
3.59
|
3.23
|
10.75
|
9.68
|
13.03
|
|
|
b)
|
Provision for contingencies
|
-
|
-
|
|
-
|
77.00
|
|
10
|
Profit before tax (8 - 9) (Refer note
2)
|
61.44
|
261.82
|
132.64
|
312.41
|
186.09
|
|
11
|
Provision for tax
|
|
|
|
|
|
|
|
|
— Current
|
14.01
|
10.00
|
26.05
|
17.00
|
21.14
|
|
|
|
— Deferred
|
1.34
|
-
|
3.89
|
|
-
|
|
12
|
Profit after tax (10 - 11) (Refer note
2)
|
46.09
|
251.82
|
102.70
|
295.41
|
164.95
|
|
13
|
Paid-up equity share
capital
|
|
|
|
|
|
|
|
(Face value: Rs
10 per share)
|
180.70
|
180.70
|
180.70
|
180.70
|
180.70
|
|
14
|
Reserves excluding
revaluation reserves
|
|
|
|
|
1,764.74
|
|
15
|
Basic and diluted earnings -- Rs per
share
(not annualised)
|
2.55
|
13.94
|
5.68
|
16.35
|
9.13
|
|
16
|
Aggregate of non-promoter
shareholding
|
|
|
|
|
|
|
|
- Number of shares
|
125,896,761
|
126,359,595
|
125,896,761
|
126,359,595
|
126,262,051
|
|
|
- Percentage of
holding
|
69.70%
|
69.95%
|
69.70%
|
69.95%
|
69.89%
|
Notes:
- Despite the fire in Mithapur in March
2001, the profit from operations for the current periods
are higher than the corresponding periods of the previous
year. The restoration work at Mithapur facility is complete
and normalcy has been restored. Sales and operating income
for the quarter ended December 31, 2001 includes a sum of
Rs 12.27 crore (Rs 38.76 crore for the period April-December
2001) being the insurance claims received in respect of
compensation towards loss of profit. The balance loss of
profit claim will be accounted for as and when received
/ settled.
- The financial results for previous periods
include a profit of Rs 205 crore, under the head ‘Other
income’ consequent to merger of Sabras Investment and
Trading Co Ltd with the company. Hence the profits before
and after taxes are not comparable with the corresponding
periods 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 and
freight subsidy have been taken into account pending final
issuance of government notification. As regards the auditors’
qualification on the above matter in their report on the
accounts for the year ended March 31, 2001, the position
has remained unchanged.
- For the pricing periods commencing from
July 1, 97, the government is yet to announce the policy
parameters for consumption norms, conversion costs and capital
related charges, etc. to be followed for fixing final retention
price of urea. However, the government has on November 5,
2001 announced an interim downward revision of energy norms
w.e.f. April 1, 2000. The impact of a credit note of Rs
20.24 crore issued to the government in this respect has
been recognised by reduction in the revenue for the quarter
ended December 31, 2001.
This has been taken on record at the board
meeting of Tata Chemicals Limited held on January 23, 2002.
Place:
Mumbai
Date: January 23, 2002
|
Ratan N Tata
Chairman
|
|
