100th Annual Report 2006-2007 - Tata Steel

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Hundredth annual report 2006-07 Notes to Schedule 4 (Page 125) Previous Year Rupees Rupees crores crores Item 2 (b) (ii) Cost of raw materials produced excludes amounts charged to wages and salaries and other revenue accounts ...................................................................................... 298.00 270.87 Item 4 (a) Stores and Spares consumed (including write-off of obsolete spares) exclude cost of stores manufactured departmentally and charged to wages and salaries and other revenue accounts ..................................................................................................................... 64.55 51.05 Item 4 (c) Repairs to buildings exclude amounts charged to wages and salaries and other revenue accounts ..................................................................................................................... 11.16 7.98 Item 4 (d) Repairs to machinery exclude amounts charged to wages and salaries and other revenue accounts ..................................................................................................................... 234.99 201.65 Item 4 (l) Commission, discounts and rebates include — (1) Commission paid to selling agents ................................................................................... 17.66 44.32 (2) Consignment agency handling charges .......................................................................... 40.75 26.96 (3) Discounts ............................................................................................................................ 8.31 9.47 Item 4 (n) Adjustments relating to previous years (net) include write back of provisions no longer required ..................................................................................................................................... 53.99 9.69 Item 4 (o) Other expenses include — (1) Provision for diminution in value of investments ............................................................. 0.10 — (2) Exchange (Gain)/Loss ....................................................................................................... 2.43 6.71 (3) Fees and out-of-pocket expenses paid/payable to Auditors : Rupees Rupees (i) For services as Auditors ............................................................................................. 1,95,00,000 1,75,00,000 (ii) For other services ........................................................................................................ 84,83,117 62,32,856 (iii) Reimbursement of travelling and out-of-pocket expenses ...................................... 4,55,174 8,39,510 (iv) For service tax and education cess ........................................................................... — — (v) For Branch Audit ......................................................................................................... 65,039 2,12,000 (4) Cost Audit Fees [including expenses Rs. 15,960 (2005-06 : Rs. 50,151)] .................. 85,960 1,19,597 Managerial Remuneration Managerial Remuneration for Managing Director, other Whole-time Directors and Non Whole-time Directors Rupees Rupees crores crores (a) Salaries (including Company's contribution to Provident and Superannuation fund) ......................... 1.83 1.55 (b) Commission ................................................................................................................................................ 5.75 4.25 (c) Perquisites ................................................................................................................................................. 0.29 0.99 (d) Sitting Fees ................................................................................................................................................ 0.10 0.10 7.97 6.89 Note :— In addition, the Managing Director and other Whole-time Directors are entitled to free supply of water and use of medical facilities at the Company’s hospital at Jamshedpur. The above figures do not include certain retirement benefits for the Managing Director and other Whole-time Directors as separate figures are not available and retirement benefits of Rs. 0.19 crore (2005-06 : Rs. 0.15 crore) paid to three former directors and retirement benefits of Rs. 0.31 crore (2005-06 : Rs. 0.31 crore) paid to a former Managing Director. COMPUTATION OF NET PROFIT IN ACCORDANCE WITH SECTION 309(5) OF THE COMPANIES ACT, 1956. Rupees Rupees crores crores Profit before taxes ................................................................................................................................................ 6261.65 5239.96 Add — (a) Managerial remuneration ..................................................................................................... 7.97 6.89 (b) Provision for bad & doubtful debts and advances ............................................................ 11.99 6.49 (c) Provision for diminution in value of investments ................................................................ 0.10 — (d) Provision for wealth tax ........................................................................................................ 0.97 0.80 6282.68 5254.14 Deduct — (a) Bad debts written off (net of recoveries) ............................................................................. 5.97 16.41 (b) Profit on sale/redemption of Investments ........................................................................... 15.63 9.95 (c) Capital profit on sale of fixed assets ................................................................................... 0.52 2.02 22.12 28.38 Net profit as per Section 309(5) .......................................................................................................................... 6260.56 5225.76 Commission : Rupees Rupees (a) Whole-time Directors ...................................................................................................................... 3,75,00,000 2,75,00,000 (b) Non Whole-time Directors — 1% of the net profits : Rs. 62.61 crores (2005-06 : Rs. 52.26 crores) restricted to ................................................................................... 2,00,00,000 1,50,00,000 5,75,00,000 4,25,00,000 126
Schedule forming part of the balance sheet SCHEDULE A : SHARE CAPITAL :— (Item No. 1(a), Page 120) As at 31-3-2006 Rupees Rupees crores crores Authorised : 1,750,000,000 Ordinary Shares of Rs. 10 each (31.3.2006 : 600,000,000 Ordinary Shares of Rs. 10 each) ........................ 1750.00 600.00 25,000,000 Cumulative Redeemable Preference Shares of Rs. 100 each (31.3.2006 : 25,000,000 Shares of Rs. 100 each) .................... 250.00 250.00 2000.00 850.00 Issued : 581,074,932 Ordinary Shares of Rs. 10 each (31.3.2006 : 554,074,932 Ordinary Shares of Rs. 10 each) ........................ 581.07 554.07 Subscribed : 580,472,856 Ordinary Shares of Rs. 10 each fully paid up (31.3.2006 : 553,472,856 Ordinary Shares of Rs. 10 each) ....................... 580.47 553.47 Of the 580,472,856 Ordinary Shares : (a) (b) (c) (d) (e) (f) (g) (h) (i) Add — Amount paid up on 389,516 (31.3.2006 : 389,516) Ordinary Shares forfeited ................................................ 0.20 0.20 9,563,300 shares represent after sub-division 956,330 shares (including 935,000 shares issued pursuant to the Scheme of Arrangement for the conversion of Deferred Shares into Ordinary Shares and the issue of additional fully paid shares) of the face value of Rs. 75 per share which were issued as fully paid up pursuant to contracts for consideration other than cash. The nominal value of these 956,330 shares was increased from Rs. 75 to Rs. 100 each with effect from 1.1.1977. 19,812,460 shares represent after sub-division 1,981,246 shares of the face value of Rs. 75 per share which were issued as fully paid bonus shares by utilisation of Rs. 3,81,44,470 from Share Premium Account and Rs. 11,04,48,980 from General Reserve. The nominal value of these 1,981,246 shares was increased from Rs. 75 to Rs. 100 each with effect from 1.1.1977. 51,440,270 shares represent after sub-division 5,144,027 Ordinary Shares whose face value was increased during the year 1976-77 from Rs. 75 to Rs. 100 per share by utilisation of Rs. 49,760 from Share Premium Account and Rs. 12,85,50,915 from General Reserve. 20,576,110 shares represent after sub-division 2,057,611 shares of the face value of Rs. 100 per share which were issued as fully paid bonus shares by utilisation of Rs. 20,57,61,100 from General Reserve. 721,530 shares represent after sub-division 72,153 shares of the face value of Rs. 100 per share which were issued as fully paid up to the shareholders of the erstwhile Indian Tube Company Limited on its amalgamation with the Company, for consideration other than cash. 33,051,470 shares represent after sub-division 3,305,147 shares of the face value of Rs. 100 per share which were issued as fully paid bonus shares by utilisation of Rs. 33,05,14,700 from General Reserve. 1,210,003 shares of the face value of Rs. 10 per share were issued as fully paid up to the shareholders of the erstwhile Tata SSL Ltd. on its amalgamation with the Company, for consideration other than cash. 184,490,952 shares of face value of Rs. 10 per share were issued as fully paid bonus shares by utilisation of Rs. 184,49,09,520 from Securities Premium Account during the year 2004-05. 27,000,000 shares of face value of Rs. 10 per share issued to Tata Sons Limited on a preferential basis during the year 2006-07. (See Note 28(a), Page 160) 580.67 553.67 580.67 553.67 127
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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
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Centenary Year The founder, Jamsetj
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esulting in a reduction in consumpt
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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 and 122: (xii) In our opinion and according
Page 123 and 124: Profit and Loss Account for the yea
Page 125 and 126: Cash Flow Statement for the year en
Page 127: Schedule forming part of the profit
Page 131 and 132: 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
Page 173 and 174: Shareholding of the Directors in th
Page 175 and 176: Committees In addition to the above
Page 177 and 178: 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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