|
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
|
|
