|
Half-yearly
results
Unaudited
financial results for the half year ended September 30, 2002
|
(Rs in crore)
|
|
Sr no
|
Particulars
|
Unaudited figures
|
Audited
|
|
Quarter ended September 30, 2002
|
Corresponding quarter in the previous
year
|
Half year ended September 30, 2002
|
Corresponding half year in the previous
year
|
Financial year ended March 31, 2002
|
|
1
|
Net sales / income from operations
|
439.07
|
388.06
|
801.29
|
679.48
|
1,481.32
|
|
2
|
Expenditure
|
|
|
|
|
|
|
|
a) Decrease/ (increase) in stock-in-trade
|
17.98
|
6.53
|
1.31
|
(1.09)
|
28.50
|
|
|
b) Consump-tion of raw materials
|
69.64
|
68.24
|
131.44
|
118.13
|
235.95
|
|
|
c) Staff cost
|
16.89
|
15.31
|
33.86
|
30.83
|
60.35
|
|
|
d) Stores, spare parts and consumables
|
26.16
|
30.34
|
53.52
|
55.30
|
118.52
|
|
|
e) Power and fuel
|
60.05
|
66.86
|
125.94
|
114.57
|
229.99
|
|
|
f) Other expenditure
|
123.09
|
95.59
|
221.31
|
175.57
|
384.77
|
|
|
Total expenditure (2a to 2f)
|
313.81
|
282.87
|
567.38
|
493.31
|
1,058.08
|
|
3
|
Profit from operations (1-2)
|
125.26
|
105.19
|
233.91
|
186.17
|
423.24
|
|
4
|
Other income
|
9.93
|
16.57
|
17.59
|
20.32
|
34.73
|
|
5
|
Interest - net
|
24.82
|
30.89
|
50.73
|
62.26
|
109.95
|
|
6
|
Profit after interest but before depreciation,
extraordinary items and tax (3+4-5)
|
110.37
|
90.87
|
200.77
|
144.23
|
348.02
|
|
7
|
Depreciation
|
33.91
|
33.00
|
67.86
|
65.88
|
133.21
|
|
8
|
Profit before extraordinary items and
tax (6-7)
|
76.46
|
57.87
|
132.91
|
78.35
|
214.81
|
|
9
|
Extraordinary items
|
|
|
|
|
|
|
|
a) Employees'
separation
compensation |
3.50
|
3.58
|
7.00
|
7.16
|
14.75
|
|
|
b) Impact of revised retention price on
revenue of earlier years
|
170.92
|
---
|
170.92
|
---
|
---
|
|
|
c) Provision for contingencies written
back
|
(170.92)
|
---
|
(170.92)
|
---
|
---
|
|
10
|
Profit before tax (8 - 9)
|
72.96
|
54.29
|
125.91
|
71.19
|
200.06
|
|
11
|
Provision for tax
|
|
|
|
|
|
|
|
|
- Current
|
28.40
|
7.12
|
49.62
|
12.04
|
39.50
|
|
|
|
- Deferred - net
|
(2.47)
|
3.76
|
(4.75)
|
2.55
|
33.74
|
|
12
|
Profit after tax (10 - 11)
|
47.03
|
43.41
|
81.04
|
56.60
|
126.82
|
|
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
|
|
|
|
|
1,370.66
|
|
15
|
Basic and diluted earnings - Rs per
share
not annualised
|
2.60
|
2.40
|
4.48
|
3.13
|
7.02
|
|
16
|
Aggregate of non-promoter shareholding
|
|
|
|
|
|
|
|
- Number of shares
|
126,088,949
|
125,896,761
|
126,088,949
|
125,896,761
|
125,949,117
|
|
|
- Percentage of holding
|
69.80%
|
69.70%
|
69.80%
|
69.70%
|
69.72%
|
Segment-wise revenue, results and capital employed
|
(Rs in crore)
|
|
Sr no
|
Particulars
|
Quarter
ended
September 30, 2002
|
Half year
ended
September 30, 2002
|
Financial
year ended
March 31, 2002
|
|
1
|
Segment revenue
|
|
|
|
|
|
a. Inorganic chemicals
|
234.62
|
459.04
|
794.96
|
|
|
b. Fertilisers
|
204.52
|
329.58
|
639.23
|
|
|
Total
|
439.14
|
788.62
|
1,434.19
|
|
|
Less: Inter segment revenue
|
0.07
|
0.07
|
0.34
|
|
|
Net sales / income from operations
|
439.07
|
788.55*
|
1,433.85*
|
|
|
* Excludes interest on tax refunds Rs
12.74 crore
(Previous year Rs 47.47 crore) adjusted under
2 (ii))
|
|
|
|
|
2
|
Segment result
|
|
|
|
|
|
Profit / (loss) before tax and interest
|
|
|
|
|
|
a. Inorganic chemicals
|
49.88
|
82.61
|
112.86
|
|
|
b. Fertilisers
|
51.85
|
90.97
|
154.50
|
|
|
Total
|
101.73
|
173.58
|
267.36
|
|
|
Less:
|
|
|
|
|
|
(i) Interest (net)
|
24.82
|
50.73
|
109.95
|
|
|
(ii) Unallocable income net of unallocable
expenditure
|
3.95
|
(3.06)
|
(42.65)
|
|
|
Profit before tax
|
72.96
|
125.91
|
200.06
|
|
3
|
Capital employed
|
|
|
|
|
|
a. Inorganic chemicals
|
1,012.35
|
1,012.35
|
1,075.56
|
|
|
b. Fertilisers
|
1,101.51
|
1,101.51
|
1,140.58
|
Notes:
- The government has by two notifications
dated August 13, 2002, revised the retention price for urea
with effect from December 21, 1994 and July 1, 1997. The
results for the quarter and half year ended September 30,
2002 have been prepared on the basis of the retention price
so notified.
In respect of the period upto March 31, 2002, an amount
of Rs 170.92 crore being the revenue recognised based on
the company's estimates has been written off on account
of the notifications mentioned hereinabove. Consequently,
of the provision for contingencies made in earlier years
of Rs 197 crore on account of the uncertainties related
to the retention price and other claims, Rs 170.92 crore
has been written back since the same is no longer required.
- As in the earlier years, the auditors
have qualified their report on accounts for the year ended
March 31, 2002 with regard to claims for escalation of input
costs and other claims, which have been accounted pending
final issuance of the government notification. The adjustments
are made in the accounts as and when the notifications are
issued.
- Net sales / income from operations
for the half year ended September 30, 2002 includes interest
on tax refunds of Rs 12.74 crore.
- The previous period figures have been
regrouped / rearranged wherever necessary.
- The statutory auditors have carried
out a limited review of the results for the half-year ended
September 30, 2002.
This has been taken
on record at the board meeting of date.
|
Place:
Mumbai
Date: October 23, 2002
|
Tata Chemicals Limited
Ratan N Tata
Chairman
|
|
