|
Quarterly results
Unaudited financial results for the
nine months ended December 31, 2003
|
(Rs. in Crores)
|
|
|
Particulars
|
Unaudited
|
Audited
|
|
Quarter Ended 31 December, 2003
|
Corresponding Quarter in the Previous
Year
|
Nine Months ended 31 December, 2003
|
Nine Months ended 31 December, 2002
|
Year ended 31 March, 2003
|
|
1
|
Sales / Income from Operations
|
492.08
|
460.78
|
1328.99
|
1249.33
|
1626.96
|
|
|
Less : Excise Duty
|
24.92
|
23.32
|
70.97
|
67.73
|
91.69
|
|
|
Net Sales/ Income from Operations
|
467.16
|
437.46
|
1258.02
|
1181.60
|
1535.27
|
|
2
|
Expenditure
|
|
|
|
|
|
|
|
a)
|
Decrease / (Increase) in stock-in-trade
|
23.43
|
(10.06)
|
(9.22)
|
(8.75)
|
(4.48)
|
|
|
b)
|
Consumption of Raw Materials
|
79.68
|
72.16
|
224.76
|
204.50
|
259.92
|
|
|
c)
|
Cost of Traded Goods
|
41.02
|
44.40
|
90.45
|
50.57
|
56.63
|
|
|
d)
|
Staff Cost
|
22.54
|
16.74
|
61.81
|
50.60
|
69.72
|
|
|
e)
|
Stores, Spare Parts and Consumables
|
25.68
|
25.89
|
73.53
|
78.63
|
124.31
|
|
|
f)
|
Power & Fuel
|
76.29
|
64.05
|
215.72
|
192.34
|
241.20
|
|
|
g)
|
Freight and Forwarding Charges
|
33.46
|
34.05
|
91.29
|
89.41
|
113.48
|
|
|
h)
|
Other Expenditure
|
50.19
|
73.54
|
144.55
|
186.44
|
259.94
|
|
|
|
Total Expenditure (2a to 2h)
|
352.29
|
320.77
|
892.89
|
843.74
|
1120.72
|
|
3
|
Profit from Operations (1-2)
|
114.87
|
116.69
|
365.13
|
337.86
|
414.55
|
|
4
|
Other Income
|
6.10
|
22.66
|
32.63
|
40.25
|
42.14
|
|
5
|
Interest on Refunds of Tax
|
16.26
|
0.00
|
31.97
|
12.74
|
35.73
|
|
6
|
Interest - net
|
8.51
|
20.08
|
33.52
|
70.81
|
90.33
|
|
7
|
Profit after Interest but before Depreciation,
Extraordinary Items and Tax (3+4+5-6)
|
128.72
|
119.27
|
396.21
|
320.04
|
402.09
|
|
8
|
Depreciation
|
33.44
|
34.10
|
100.23
|
101.96
|
136.93
|
|
9
|
Profit before Extraordinary Items and
Tax (7-8)
|
95.28
|
85.17
|
295.98
|
218.08
|
265.16
|
|
10
|
Extraordinary Items
|
|
|
|
|
|
|
|
a)
|
Employees' Separation Compensation
|
3.59
|
3.92
|
14.88
|
10.92
|
14.56
|
|
|
b)
|
Impact of revised retention price on revenue
of earlier years
|
-
|
-
|
-
|
170.92
|
185.58
|
|
|
c)
|
Provision for Contingencies written back
|
-
|
-
|
-
|
(170.92)
|
(197.00)
|
|
11
|
Profit before Tax (9-10)
|
91.69
|
81.25
|
281.10
|
207.16
|
262.02
|
|
12
|
Provision for Tax
|
|
|
|
|
|
|
|
|
- Current
|
42.71
|
27.31
|
112.90
|
76.93
|
88.99
|
|
|
|
- Deferred - net
|
(10.05)
|
(1.56)
|
(19.88)
|
(6.31)
|
(23.55)
|
|
13
|
Profit after Tax (11-12)
|
59.03
|
55.50
|
188.08
|
136.54
|
196.58
|
|
14
|
Paid up Equity Share Capital (Face value
: Rs. 10 per Share)
|
180.70
|
180.70
|
180.70
|
180.70
|
180.70
|
|
15
|
Reserves excluding Revaluation Reserves
|
|
|
|
|
1455.16
|
|
16
|
Basic and Diluted Earnings - Rs. per
Share (not annualised)
|
3.27
|
3.07
|
10.41
|
7.56
|
10.88
|
|
17
|
Aggregate of Non-Promoter Shareholding
|
|
|
|
|
|
|
- Number of Shares
|
125,752,769
|
126,713,949
|
125,752,769
|
126,713,949
|
125,432,789
|
|
|
- Percentage of shareholding
|
69.61%
|
70.15%
|
69.61%
|
70.15%
|
69.44%
|
Segmentwise revenue, results and capital employed
|
(Rs. in Crores)
|
|
|
Particulars
|
Quarter ended 31 December, 2003
|
Corresponding Quarter in the Previous
Year
|
Nine Months ended 31 December, 2003
|
Nine Months ended 31 December, 2002
|
Year ended 31March, 2003
|
|
1
|
Segment Revenue
|
|
|
|
|
|
|
|
a. Inorganic Chemicals
|
222.44
|
228.14
|
662.09
|
642.77
|
864.52
|
|
|
b. Fertilisers
|
244.72
|
209.32
|
595.93
|
538.90
|
670.82
|
|
|
Total
|
467.16
|
437.46
|
1,258.02
|
1,181.67
|
1,535.34
|
|
|
Less : Inter segment revenue
|
-
|
-
|
-
|
0.07
|
0.07
|
|
|
Net Sales / Income from Operations
|
467.16
|
437.46
|
1,258.02
|
1,181.60
|
1,535.27
|
|
2
|
Segment Result
|
|
|
|
|
|
|
|
Profit / (Loss) before Tax and Interest
|
|
|
|
|
|
|
|
a. Inorganic Chemicals
|
40.45
|
53.52
|
147.46
|
136.14
|
185.07
|
|
|
b. Fertilisers
|
48.47
|
39.61
|
143.36
|
130.58
|
135.62
|
|
|
Total
|
88.92
|
93.13
|
290.82
|
266.72
|
320.69
|
|
|
Less :
|
|
|
|
|
|
|
|
(i) Interest - net
|
8.51
|
20.08
|
33.52
|
70.81
|
90.33
|
|
|
(ii) Unallocable income net o funallocable
expenditure
|
(11.28)
|
(8.20)
|
(23.80)
|
(11.25)
|
(31.66)
|
|
|
Profit before Tax
|
91.69
|
81.25
|
281.10
|
207.16
|
262.02
|
|
3
|
Capital Employed
|
|
|
|
|
|
|
|
a. Inorganic Chemicals
|
862.28
|
1,000.46
|
862.28
|
1,000.46
|
972.12
|
|
|
b. Fertilisers
|
980.23
|
1,069.33
|
980.23
|
1,069.33
|
1,020.99
|
Notes:
- With regard to the Scheme of Amalgamation
of Hind Lever Chemicals Limited (HLCL) with the Company,
the High Court of Judicature at Mumbai had passed the Order
approving the said Scheme of Amalgamation. However the Punjab
and Haryana High Court is yet to approve the Scheme of Amalgamation
of HLCL (the transferor company) with the Company. Upon
receiving the necessary statutory approvals, the Scheme
of Amalgamation shall be operative from the appointed date
of 01 April 2002. The Unaudited Financial Results statement
does not include the results of HLCL.
- The new pricing policy for Urea
is effective from 1 April 2003. The revenue in respect of
Urea is recognized based on the provisional concessional
rates notified by the Government pending fixation of the
final concessional rates. Claims for escalation on input
cost have been taken into account based on the estimates,
pending final notification of the rates by the Government.
Status of complaints received from investors during the
quarter, complaints resolved and those pending are as follows
:-
|
|
Particulars of complaints
|
Numbers
|
|
|
Outstanding as on October 1, 2003
|
26
|
|
Received during the quarter
|
11
|
|
Resolved during the quarter
|
17
|
|
Outstanding as on 31 December 2003
|
20 *
|
|
- Status of complaints received from investors
during the quarter, complaints resolved and those pending
are as follows :-
- The Statutory Auditors have carried
out a 'Limited Review' of the results for the nine months
ended 31 December 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:
January 19, 2004
|
Tata Chemicals Limited
Ratan N Tata
Chairman
|
|
