|
Quarterly results
Unaudited
financial results for the quarter ended June 30, 2003
|
(Rs. in Crores)
|
|
Sr.
no
|
Particulars
|
Quarter Ended 30 June, 2003 (unaudited)
|
Corresponding Quarter in the Previous
Year (unaudited)
|
Year ended 31 March, 2003 (unaudited)
|
|
1
|
Sales / Income from Operations
|
330.79
|
349.48
|
1,628.40
|
|
|
Less : Excise Duty
|
22.89
|
22.84
|
91.69
|
|
|
Net Sales/ Income from Operations
|
307.90
|
326.64
|
1,536.71
|
|
2
|
Expenditure
|
|
|
|
|
|
a)
|
Decrease / (Increase) in stock-in-trade
|
(62.62)
|
(16.67)
|
(4.48)
|
|
|
b)
|
Consumption of Raw Materials
|
69.95
|
62.26
|
259.92
|
|
|
c)
|
Staff Cost
|
19.93
|
16.97
|
69.43
|
|
|
d)
|
Stores, Spare Parts and Consumables
|
23.83
|
26.90
|
124.31
|
|
|
e)
|
Power & Fuel
|
64.83
|
67.05
|
241.19
|
|
|
f)
|
Freight and Forwarding Charges
|
26.88
|
24.99
|
113.48
|
|
|
g)
|
Other Expenditure
|
53.41
|
49.23
|
316.10
|
|
|
|
Total Expenditure (2a to 2g)
|
196.21
|
230.73
|
1,119.95
|
|
3
|
Profit from Operations (1-2)
|
111.69
|
95.91
|
416.76
|
|
4
|
Other Income
|
8.22
|
7.66
|
42.14
|
|
5
|
Interest on Refunds of Tax
|
6.15
|
12.74
|
36.67
|
|
6
|
Interest - net
|
13.59
|
25.91
|
90.06
|
|
7
|
Profit after Interest but before Depreciation,
Extraordinary Items and Tax (3+4+5-6)
|
112.47
|
90.40
|
405.51
|
|
8
|
Depreciation
|
33.43
|
33.95
|
136.98
|
|
9
|
Profit before Extraordinary Items and
Tax (7-8)
|
79.04
|
56.45
|
268.53
|
|
10
|
Extraordinary Items
|
|
|
|
|
|
a)
|
Employees' Separation Compensation
|
7.54
|
3.50
|
14.56
|
|
|
b)
|
Impact of revised retention price
|
|
|
|
|
|
|
on revenue of earlier years
|
-
|
-
|
182.95
|
|
|
c)
|
Provision for Contingencies written back
|
-
|
-
|
(197.00)
|
|
11
|
Profit before Tax (9-10)
|
71.50
|
52.95
|
268.02
|
|
12
|
Provision for Tax
|
|
|
|
|
|
|
- Current
|
27.88
|
21.22
|
90.11
|
|
|
|
- Deferred - net
|
(4.91)
|
(2.28)
|
(18.83)
|
|
13
|
Profit after Tax (11-12)
|
48.53
|
34.01
|
196.74
|
|
14
|
Paid up Equity Share Capital
(Face value : Rs. 10 per Share)
|
180.70
|
180.70
|
180.70
|
|
15
|
Reserves excluding Revaluation Reserves
|
|
|
1,454.38
|
|
16
|
Basic and Diluted Earnings - Rs. per
Share
(not annualised)
|
2.69
|
1.88
|
10.89
|
|
17
|
Aggregate of Non-Promoter Shareholding
|
|
|
|
|
|
- Number of Shares
|
125,432,769
|
125,948,557
|
125,432,789
|
|
|
- Percentage of shareholding
|
69.44%
|
69.72%
|
69.44%
|
Segmentwise
revenue, results and capital Employed
|
(Rs. in Crores)
|
|
Sr.
no
|
Particulars
|
Quarter ended 30th June, 2003
|
Corresponding Quarter in the Previous
Year
|
Year ended 31March, 2003
|
|
1
|
Segment Revenue
|
|
|
|
|
|
a. Inorganic Chemicals
|
220.98
|
201.58
|
864.79
|
|
|
b. Fertilisers
|
86.92
|
125.06
|
671.99
|
|
|
Total
|
307.90
|
326.64
|
1,536.78
|
|
|
Less : Inter segment revenue
|
-
|
-
|
0.07
|
|
|
Net Sales / Income from Operations
|
307.90
|
326.64
|
1,536.71
|
|
2
|
Segment Result
|
|
|
|
|
|
Profit / (Loss) before Tax and Interest
|
|
|
|
|
|
a. Inorganic Chemicals
|
65.85
|
32.73
|
185.87
|
|
|
b. Fertilisers
|
22.01
|
39.12
|
136.78
|
|
|
Total
|
87.86
|
71.85
|
322.65
|
|
|
Less :
|
|
|
|
|
|
(i) Interest - net
|
13.59
|
25.91
|
90.06
|
|
|
(ii) Unallocable income net of
|
2.77
|
(7.01)
|
(35.43)
|
|
|
unallocable expenditure
|
|
|
|
|
|
Profit before Tax
|
71.50
|
52.95
|
268.02
|
|
3
|
Capital Employed
|
|
|
|
|
|
a. Inorganic Chemicals
|
951.94
|
1,025.27
|
971.72
|
|
|
b. Fertilisers
|
1,045.41
|
1,148.01
|
1,026.69
|
Notes:
-
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 on urea, 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.
The results for quarter ended June 30, 2003 are not impacted
by the above qualification.
-
As a result of market conditions,
urea sales have been lower during the quarter. Sales are
expected to be made up in the next quarter.
-
'Employees' Separation Compensation'
includes Rs 4.04 crore being Net Present Value of future
pension payable to employees who availed of the Employee
Separation Scheme during the quarter ended June 30, 2003,
in terms of Accounting Standard (AS) 26, 'Intangible Assets',
which is mandatory effective from April 01, 2003.
-
The Scheme of Amalgamation of
Hind Lever Chemicals Limited (HLCL) with the company,
on obtaining necessary statutory approvals, shall be operative
from the appointed date of April 01, 2002. The 'Unaudited
Financial Results' statement does not include the results
of HLCL.
-
There were 11 investor complaints
pending as at April 01, 2003. During the quarter ended
June 30, 2003, 16 complaints were received of which 2
complaints were resolved, leaving a balance of 25 complaints
lying unresolved as on June 30, 2003.
-
The statutory auditors have carried
out a 'limited review' of the results for the quarter
ended June 30, 2003.
-
The
previous period figures have been regrouped/rearranged
wherever necessary.
This has been taken on record in
the board meeting of date.
|
Place:
Mumbai
Date: July 24, 2003
|
Tata Chemicals Limited
Ratan N Tata
Chairman
|
|
