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Tata Steel Financials

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    Balance Sheet of Tata Steel

    Mar '11 Mar '10

    12 mths 12 mths

    Sources Of Funds

    Total Share Capital 959.41 887.41

    Equity Share Capital 959.41 887.41

    Share Application Money 178.2 0

    Preference Share Capital 0 0

    Reserves 45,807.02 36,281.34

    Revaluation Reserves 0 0

    Networth(total shareholders fund)+foreign

    currency monetory item translation

    difference account

    46,944.63 37,168.75

    Secured Loans+hybrid perpetual securities 3,509.20 2,259.32

    Unsecured Loans 26,291.94 22,979.88

    Total Debt 29,801.14 25,239.20

    Total Liabilities 76,745.77 62,407.95

    Mar '11 Mar '10

    12 mths 12 mths

    Application Of Funds

    Gross Block 29,815.64 22,306.07

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    Less: Accum. Depreciation 11,041.16 10,143.63

    Net Block 18,774.48 12,162.44

    Capital Work in Progress 0 3,843.59

    Investments 46,564.94 44,979.67

    Inventories(stock in trade + stores and

    spare parts)3,953.76 3,077.75

    Sundry Debtors 428.03 434.83

    Cash and Bank Balance 4,141.54 500.3

    Total Current Assets 8,523.33 4,012.88

    Loans and Advances 15,688.97 6,678.55

    Fixed Deposits 0 2,733.84

    Total CA, Loans & Advances 24,212.30 13,425.27

    Deffered Credit 0 0

    Current Liabilities 8,384.63 8,699.34

    Provisions 4,421.32 3,303.68

    Total CL & Provisions 12,805.95 12,003.02

    Net Current Assets 11,406.35 1,422.25

    Miscellaneous Expenses 0 0

    Total Assets 76,745.77 62,407.95

    Contingent Liabilities 12,479.85 13,184.61

    Book Value (Rs) 487.55 418.94

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    Mar '09 Mar '08 Mar '07

    12 mths 12 mths 12 mths

    6,203.45 6,203.30 580.67

    730.79 730.78 580.67

    0 0 147.06total assets - total current liabilities and pr

    5,472.66 5,472.52 0

    23,501.15 21,097.43 13,368.42

    0 0 0

    29,704.60 27,300.73 14,096.15

    3,913.05 3,520.58 3,758.92

    23,033.13 14,501.11 5,886.41

    26,946.18 18,021.69 9,645.33

    56,650.78 45,322.42 23,741.48

    Mar '09 Mar '08 Mar '07

    12 mths 12 mths 12 mths

    20,057.01 16,479.59 16,029.49

    in Rs. Cr.

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    9,062.47 8,223.48 7,486.37

    10,994.54 8,256.11 8,543.12

    3,487.68 4,367.45 2,497.44

    42,371.78 4,103.19 6,106.18

    3,480.47 2,604.98 2,332.98

    635.98 543.48 631.63

    463.58 465 446.51

    4,580.03 3,613.46 3,411.12

    5,884.61 34,582.84 4,025.95

    1,127.02 0.04 7,234.84

    11,591.66 38,196.34 14,671.91

    0 0 0

    8,965.76 6,842.26 6,349.24

    2,934.19 2,913.52 1,930.46

    11,899.95 9,755.78 8,279.70

    -308.29 28,440.56 6,392.21

    105.07 155.11 202.53

    56,650.78 45,322.42 23,741.48

    12,188.55 9,250.08 7,185.93

    331.68 298.78 240.31

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    ovisions - long and short term debt-deferred income taxes - minority interest = shareholder's equity

    7.16 5.69 0.45 0.40 7.27 #DIV/0!

    0.146251 0.135781 0.175116 0.171681 0.299525 #DIV/0!

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    Profit & Loss account of Tata

    Steel

    Mar '11 Mar '10

    12 mths 12 mths

    Income

    Sales Turnover 31,902.14 26,757.60

    Excise Duty 2,594.59 1,816.95

    Net Sales 29,307.55 24,940.65

    Other Income 790.67 1,241.08

    Stock Adjustments 173.65 -134.97

    Total Income 30,271.87 26,046.76

    Expenditure

    Raw Materials 7,855.10 8,356.45

    Power & Fuel Cost 1,558.49 1,383.44

    Employee Cost 2,618.27 2,361.48

    Other Manufacturing Expenses 30.89 2,419.89

    Selling and Admin Expenses 0 417.9

    Miscellaneous Expenses 6,184.37 1,287.04

    Preoperative Exp Capitalised -198.78 -326.11

    --------------

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    Total Expenses 18,048.34 15,900.09

    Mar '11 Mar '10

    12 mths 12 mths

    Operating Profit 11,432.86 8,905.59

    PBDIT 12,223.53 10,146.67

    Interest 1,300.49 1,848.19

    PBDT 10,923.04 8,298.48

    Depreciation 1,146.19 1,083.18

    Other Written Off 0 0

    Profit Before Tax 9,776.85 7,215.30

    Extra-ordinary items -4.54 0

    PBT (Post Extra-ord Items) 9,772.31 7,215.30

    Tax 2,911.16 2,168.50

    Reported Net Profit 6,865.69 5,046.80

    Total Value Addition 10,193.24 7,543.64

    Preference Dividend 0 45.88

    Equity Dividend 1,151.06 709.77

    Corporate Dividend Tax 156.71 122.8

    Per share data (annualised)

    Shares in issue (lakhs) 9,592.14 8,872.14

    Earning Per Share (Rs) 71.58 56.37

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    Equity Dividend (%) 120 80

    Book Value (Rs) 487.55 418.94

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    Mar '09 Mar '08 Mar '07

    12 mths 12 mths 12 mths

    26,843.53 22,191.43 19,756.84 19.23% -0.32% 20.96% 12.32%

    2,495.21 2,537.02 2,304.18

    24,348.32 19,654.41 17,452.66 17.51% 2.43% 23.88% 12.62%

    603.07 586.41 362.12

    289.27 38.73 82.47

    25,240.66 20,279.55 17,897.25 0.13836

    8,568.71 6,063.53 5,762.42

    1,222.48 1,038.77 1,027.84

    2,305.81 1,589.77 1,454.83

    2,127.48 1,654.96 1,561.40

    400.24 247.77 244.92

    1,180.08 1,029.30 805.99

    -343.65 -175.5 -236.02

    ----- in Rs. Cr. -------------------

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    15,461.15 11,448.60 10,621.38

    Mar '09 Mar '08 Mar '07

    12 mths 12 mths 12 mths

    9,176.44 8,244.54 6,913.75

    9,779.51 8,830.95 7,275.87

    1,489.50 929.03 251.25

    8,290.01 7,901.92 7,024.62

    973.4 834.61 819.29

    0 0 0

    7,316.61 7,067.31 6,205.33

    0 0 57.29

    7,316.61 7,067.31 6,262.62

    2,114.87 2,380.28 2,040.47

    5,201.74 4,687.03 4,222.15

    6,892.44 5,385.07 4,858.96

    109.45 22.19 0

    1,168.95 1,168.93 943.91

    214.1 202.43 160.42

    7,305.92 7,305.84 5,804.73

    69.7 63.85 72.74

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    160 160 155

    331.68 298.78 240.31

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    ########

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    ROE = Net Profit Margin * Asset turnover * Equity Multiplier

    Net Profit Margin = Net Income / revenue

    Asset turnover = Revenue / AssetsEquity multiplier = Assets / Shareholder's equity

    application of fund = total fixed assets + investments +

    net current assets + miscellaneous expenses

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    Mar '11 Mar '10 Mar '09 Mar '08

    12 mths 12 mths 12 mths 12 mths

    Net Profit Margin 0.2152 0.1886 0.1938 0.2112Asset turnover = total sales/total net a 0.7421 0.9092 1.0254 0.4353

    Equity Multiplier 1.0221 0.8802 0.9185 2.4627

    Operating profit margin 0.3472 0.3387 0.3281 0.3603

    ROE 16.32% 15.09% 18.25% 22.64%

    shareholders equity 46,944.63 37,168.75 29,704.60 27,300.73

    ROE 0.146250807 0.13578073 0.175115639 0.1716815

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    Mar '07

    12 mths

    0.21370.7624

    1.8384

    0.3268

    29.95%

    14,096.15

    0.299525048

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    7.156158472 5.687112 7.117968 6.413736 7.27117Profitability ratio

    Solvency ratio

    Leverage ratio

    Coverage ratio

    Debt to net profit ratio

    FINANCIAL

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    FORMULA Mar '11 Mar '10 Mar '09

    ROEROE = Net Profit Margin * Asset turnover *

    Equity Multiplier16.32% 15.09% 18.25%

    Debt to equity sec loans+unsecured loans/ Net worth 0.63 0.68 0.91

    Operating leverage Revenue - variabl cost / EBIT

    Financial Leverage EBIT/ Net income 1.61 1.80 1.69

    Debt service coverage

    ratio

    EBIT/ Debt serviced(Intrest + repayment of

    borrowings+long term loan expenses)1.90 0.99 3.64

    Interest coverage ratio EBIT/Interest(net finance charges) 8.52 4.90 5.91

    4.340589 5.00103 5.180224

    RATIO

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    Mar '08 Mar '07

    22.64% 29.95%

    0.66 0.68

    1.71 1.53

    0.69 6.08

    8.61 25.70

    3.845013 2.284459


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