100th Annual Report 2006-2007 - Tata Steel

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Hundredth annual report 2006-07 Tata Steel Limited Balance Sheet as at 31st March, 2007 As at FUNDS EMPLOYED : 31-3-2006 Schedule Page Rupees Rupees Rupees crores crores crores A 127 1. a SHARE CAPITAL ............................................. 580.67 553.67 b SHARE WARRANTS (See Note 28(b) , Page 160) 147.06 — 727.73 553.67 B 128 2. RESERVES AND SURPLUS ...................................... 13368.42 9201.63 3. TOTAL SHAREHOLDERS' FUNDS .......................... 14096.15 9755.30 4. LOANS C 129 a Secured ............................................................ 3758.92 2191.74 D 130 b Unsecured ........................................................ 5886.41 324.41 c Total Loans ....................................................... 9645.33 2516.15 5. DEFERRED TAX LIABILITY (NET) (See Note 17, Page 154) 748.94 957.00 6. PROVISION FOR EMPLOYEE SEPARATION COMPENSATION (See Note 10(a), Page 144) ........ 1107.08 1388.71 7. TOTAL FUNDS EMPLOYED ..................................... 25597.50 14617.16 APPLICATION OF FUNDS : E 131 8. FIXED ASSETS a Gross Block...................................................... 18526.93 16564.90 b Less — Impairment .......................................... 100.41 94.19 c Less — Depreciation ........................................ 7385.96 6605.66 d Net Block .......................................................... 11040.56 9865.05 F 132 9. INVESTMENTS .......................................................... 6106.18 4069.96 10. A. CURRENT ASSETS a Stores and spare parts .................................... 505.44 442.66 G 138 b Stock-in-trade ................................................... 1827.54 1732.09 H 138 c Sundry debtors ................................................. 631.63 539.40 d Interest accrued on investments ..................... 0.20 0.20 I 139 e Cash and Bank balances ................................. 7681.35 288.39 10646.16 3002.74 J 139 B. LOANS AND ADVANCES ................................ 3055.73 1234.86 13701.89 4237.60 11. Less : CURRENT LIABILITIES AND PROVISIONS K 140 A. Current Liabilities .............................................. 3523.20 2835.99 L 140 B. Provisions ......................................................... 1930.46 972.73 5453.66 3808.72 12. NET CURRENT ASSETS .......................................... 8248.23 428.88 13. MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) Employee Separation Compensation ......................... 202.53 253.27 (See Note 10(a), Page 144) 14. TOTAL ASSETS (Net) ............................................... 25597.50 14617.16 Contingent Liabilities (See Note 2, Page 142) M 141 NOTES ON BALANCE SHEET AND PROFIT AND LOSS ACCOUNT 120 As per our report attached For DELOITTE HASKINS & SELLS Chartered Accountants, Mumbai, 17th May, 2007 P R RAMESH Partner. J C BHAM Company Secretary For and on behalf of the Board RATAN N TATA NUSLI N WADIA S M PALIA SURESH KRISHNA ISHAAT HUSSAIN JAMSHED J IRANI SUBODH BHARGAVA B MUTHURAMAN T MUKHERJEE A N SINGH } } Chairman Directors Executive Directors
Profit and Loss Account for the year ended 31st March, 2007 Previous INCOME : Year Schedule Page Rupees Rupees Rupees crores crores crores 1 124 1. SALE OF PRODUCTS AND SERVICES .................. 19762.57 17144.22 Less — Excise Duty ................................................... 2210.55 1928.72 17552.02 15215.50 2 124 2. OTHER INCOME ....................................................... 433.67 254.76 17985.69 15470.26 EXPENDITURE : 4 125 3. MANUFACTURING AND OTHER EXPENSES ........ 10814.77 9390.54 4. DEPRECIATION ......................................................... 819.29 775.10 11634.06 10165.64 5. Less — EXPENDITURE (OTHER THAN INTEREST) TRANSFERRED TO CAPITAL AND OTHER ACCOUNTS ................................................. 236.02 112.62 11398.04 10053.02 3 124 6. INTEREST .................................................................. 173.90 124.51 7. TOTAL EXPENDITURE ............................................. 11571.94 10177.53 PROFIT BEFORE TAXES AND EXCEPTIONAL ITEMS .... 6413.75 5292.73 8. EMPLOYEE SEPARATION COMPENSATION (See Note 10(a), Page 144) ....................................... (152.10) (52.77) PROFIT BEFORE TAXES ..................................................... 6261.65 5239.96 9. TAXES a CURRENT TAX ................................................ 2076.01 1579.00 b DEFERRED TAX (See Note 17, Page 154) .... (52.51) 127.58 c FRINGE BENEFITS TAX ................................. 16.00 27.00 2039.50 1733.58 PROFIT AFTER TAXES ...................................................... 4222.15 3506.38 10. BALANCE BROUGHT FORWARD FROM LAST YEAR ........ 2976.16 1790.21 AMOUNT AVAILABLE FOR APPROPRIATIONS ............ 7198.31 5296.59 11. APPROPRIATIONS : a PROPOSED DIVIDENDS ................................... 943.91 719.51 (Details as per Directors’ Report, Page 71) b TAX ON DIVIDENDS .......................................... 160.42 100.92 1104.33 820.43 c GENERAL RESERVE ......................................... 1500.00 1500.00 2604.33 2320.43 BALANCE CARRIED TO BALANCE SHEET .................... 4593.98 2976.16 Basic and Diluted Earnings per Share Rs. .......................... 73.76 63.35 (See Note 16, Page 154) M 141 NOTES ON BALANCE SHEET AND PROFIT AND LOSS ACCOUNT As per our report attached For DELOITTE HASKINS & SELLS Chartered Accountants, Mumbai, 17th May, 2007 P R RAMESH Partner. J C BHAM Company Secretary For and on behalf of the Board RATAN N TATA NUSLI N WADIA S M PALIA SURESH KRISHNA ISHAAT HUSSAIN JAMSHED J IRANI SUBODH BHARGAVA B MUTHURAMAN T MUKHERJEE A N SINGH } } Chairman Directors Executive Directors 121
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A Century of Trust 100th Annual Rep
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Tata Steel is Asia’s first and In
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Redefining steel with world-class p
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in a manner that ring-fences the Co
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Board of Directors Mr. R. N. Tata C
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The state-of-the-art Hot Strip Mill
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Distribution of Revenue 2006 - 2007
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1907-2007 JRD Tata with Pandit Jawa
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1907-2007 Tata Steel’s state-of-t
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This photograph taken by a Tata Ste
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Profit Sharing Bonus was granted fo
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A modern swimming pool at the G Tow
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steeljunction in Kolkata - India’
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Tata Steel has introduced high-end
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Tata Structura is a new-age constru
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Shareholder interaction at an Annua
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Within three weeks of the announcem
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It was 1956. The company was faced
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Community and environment : Improvi
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A Critical Care Unit, in the 850-be
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The Tata Steel Family Initiatives F
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The Tata Steel works, mines, collie
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An aerial view of the planned indus
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The Cold Rolling Complex at Jamshed
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1933 Two new roughing and finishing
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From the early days, the Tata Steel
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Production Highlights • The best
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Aspire with T3 With the objective o
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Operational Highlights NSA increase
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was above the average total score o
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Blast furnaces at Corus’ integrat
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Corus produces strong, light steel
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Corus is British Triathlon’s main
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Review of Corporate Sustainability
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TSRDS focused on popularising repro
Page 71 and 72: Centenary Year The founder, Jamsetj
Page 73 and 74: esulting in a reduction in consumpt
Page 75 and 76: convertible preference shares and a
Page 77 and 78: expansion of crude steel making cap
Page 79 and 80: The bulk cargo berths are being des
Page 81 and 82: Corporate Governance Pursuant to Cl
Page 83 and 84: Annexure 'A' to Directors’ Report
Page 85 and 86: Form - B Form for disclosure of par
Page 87 and 88: 6 am 2 pm 12 noon 10 am 8 am 8 pm 6
Page 89 and 90: Particulars of technology imported
Page 91 and 92: Management Discussion and Analysis
Page 93 and 94: of 8%. In 2006, China produced 422.
Page 95 and 96: The Company plans to achieve these
Page 97 and 98: I. Strategic Rationale for acquisit
Page 99 and 100: Steelium (India’s first branded c
Page 101 and 102: The “G” Blast Furnace in Jamshe
Page 103 and 104: Sales of manganese ore in the domes
Page 105 and 106: d) Payments and Provisions to Emplo
Page 107 and 108: m) Stores and Spare Parts and Stock
Page 109 and 110: The Company generated EVA of Rs. 2,
Page 111 and 112: Business and Operational Risk The m
Page 113 and 114: • Raising cost efficient funds fo
Page 115 and 116: Highlights 2006-07 2005-06 Rupees R
Page 117 and 118: Auditors’ Report TO THE MEMBERS O
Page 119 and 120: (b) In our opinion and having regar
Page 121: (xii) In our opinion and according
Page 125 and 126: Cash Flow Statement for the year en
Page 127 and 128: Schedule forming part of the profit
Page 129 and 130: Schedule forming part of the balanc
Page 141 and 142: Schedules forming part of the balan
Page 143 and 144: SCHEDULE M : NOTES ON BALANCE SHEET
Page 163 and 164: Balance Sheet Abstract and Company'
Page 165 and 166: CAPITAL ACCOUNTS Financial Statisti
Page 167 and 168: Financial Ratios 2006-07 2005-06 20
Page 169 and 170: Name Category No. of Whether No. of
Page 171 and 172: the Tata Code of Conduct, which req
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Shareholding of the Directors in th
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Committees In addition to the above
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employees to report concerns about
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Market Information Market Price Dat
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Distribution of Shareholding Number
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Address for Correspondence : Tata S
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Certificate To the Members of TATA
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Statement pursuant to Section 212(8
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4. Subject to the matters referred
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Consolidated Profit and Loss Accoun
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Consolidated Cash Flow Statement fo
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Schedule forming part of the Consol
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Schedules forming part of the Conso
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SCHEDULE N : NOTES TO THE CONSOLIDA
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The Dimna reservoir near Jamshedpur
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100th Annual Report 2006-2007 - Tata Steel

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