|
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
|
|
