|
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
|
|
