100th Annual Report 2006-2007 - Tata Steel

More documents

Recommendations

Info

Hundredth annual report 2006-07 Commission is distributed on the basis of their attendance and contribution at the Board and certain Committee Meetings as well as time spent on operational matters other than at the meetings. The Company pays sitting fees of Rs. 10,000 per meeting to the NEDs for attending the meetings of the Board, Executive Committee of the Board, Committees constituted by the Board from time to time and Audit Committee. The Board at its meeting held on 22nd March, 2007 has increased the sitting fees of the Remuneration Committee from Rs. 5,000 to Rs. 10,000 w.e.f. 01.04.2007. For other meetings, the Company continues to pay to the NEDs sitting fees of Rs. 5,000 per meeting. The Company pays remuneration by way of salary, perquisites and allowances (fixed component) and commission (variable component) to Managing and Whole-time Directors. Salary is paid within the range approved by the Shareholders. Annual increments effective 1st April each year, as recommended by the Remuneration Committee, are approved by the Board. The ceiling on perquisites and allowances as a percentage of salary, is fixed by the Board. Within the prescribed ceiling, the perquisites package is approved by the Remuneration Committee. Commission is calculated with reference to net profits of the Company in a particular financial year and is determined by the Board of Directors at the end of the financial year based on the recommendations of the Remuneration Committee, subject to overall ceilings stipulated in Sections 198 and 309 of the Companies Act, 1956. Specific amount payable to such directors is based on the performance criteria laid down by the Board which broadly takes into account the profits earned by the Company for the year. Details of remuneration for 2006-07 Non-Wholetime Directors (Rs. lakhs) Name of the Director Commission* Sitting Fees 1. Mr. R. N. Tata 55.20 1.75 *** 2. Mr. Nusli N. Wadia 15.50 1.00 3. Mr. S. M. Palia 38.00 2.35 *** 4. Mr. P. K. Kaul 5.60** 0.50 5. Mr. Suresh Krishna 7.80 0.65 *** 6. Mr. Kumar Mangalam Birla – — 7. Mr. Ishaat Hussain 42.10 2.30 8. Dr. J. J. Irani 31.30@ 1.60 9. Mr. Subodh Bhargava 4.50 0.30 Total 200.00 10.45 * Payable in 2007-08. ** Amount payable to IDBI Bank Ltd. *** Includes amount of Rs. 5000/- paid in 2007-08 @ Excluding retirement benefits of Rs. 31.20 lakhs. Managing and Whole-time Directors 170 Name Salary Perquisites & Commission@ Stock Options Allowances Rs. lakhs Rs. lakhs Rs. lakhs Mr. B. Muthuraman Managing Director 59.20 18.63 170.00 Nil Dr. T. Mukherjee Dy. Managing Director (Steel) 51.20 26.97 120.00 Nil Mr. A. N. Singh Dy. Managing Director (Corporate Services) 41.60 14.45 85.00 Nil @ Payable in 2007-08
Shareholding of the Directors in the Company as on 31st March, 2007. Director No. of Ordinary Shares of Rs. 10/- each held singly and/or jointly Mr. R. N. Tata (Chairman) 16680 Mr. Nusli N. Wadia Nil Mr. S. M. Palia 450 Mr. Suresh Krishna Nil Mr. Ishaat Hussain 1614 Dr. J. J. Irani 5431 Mr. Subodh Bhargava 750 Mr. B. Muthuraman 2186 Dr. T. Mukherjee Nil Mr. A. N. Singh Nil Total 27111 Service Contracts, Severance Fees and Notice Period Period of Contract of MD : From 22.07.2006 to 30.09.2009 The Contract may be terminated by either party giving the other party six months’ notice or the Company paying six months’ salary in lieu thereof. There is no separate provision for payment of severance fees Period of Contract of Dy. MD : 01.08.2005 to 31.10.2007. (Steel) The Contract may be terminated by either party giving the other party six months’ notice or the Company paying six months’ salary in lieu thereof. There is no separate provision for payment of severance fees. Period of Contract of Dy. MD : 5 years from 01.08.2005. (Corporate Services) The Contract may be terminated by either party giving the other party six months’ notice or the Company paying six months’ salary in lieu thereof. There is no separate provision for payment of severance fees. 5. Shareholders' Committee An Investors’ Grievance Committee was constituted on 23rd March, 2000 to specifically look into the redressal of Investors’ complaints like transfer of shares, non-receipt of balance sheet and non-receipt of declared dividend, etc. No meeting of the Investors’Grievance Committee was held during 2006-07. The composition of the Investors’ Grievance Committee is given below: Names of Members Mr. Ishaat Hussain, Chairman Mr. Suresh Krishna, Member Category Professional Not Independent Non-Executive Independent Non-Executive 171
Page 1 and 2:
A Century of Trust 100th Annual Rep
Page 3 and 4:
Tata Steel is Asia’s first and In
Page 5 and 6:
Redefining steel with world-class p
Page 7 and 8:
in a manner that ring-fences the Co
Page 9 and 10:
Board of Directors Mr. R. N. Tata C
Page 11 and 12:
The state-of-the-art Hot Strip Mill
Page 13 and 14:
Distribution of Revenue 2006 - 2007
Page 15 and 16:
1907-2007 JRD Tata with Pandit Jawa
Page 17 and 18:
1907-2007 Tata Steel’s state-of-t
Page 19 and 20:
This photograph taken by a Tata Ste
Page 21 and 22:
Profit Sharing Bonus was granted fo
Page 23 and 24:
A modern swimming pool at the G Tow
Page 25 and 26:
steeljunction in Kolkata - India’
Page 27 and 28:
Tata Steel has introduced high-end
Page 29 and 30:
Tata Structura is a new-age constru
Page 31 and 32:
Shareholder interaction at an Annua
Page 33 and 34:
Within three weeks of the announcem
Page 35 and 36:
It was 1956. The company was faced
Page 37 and 38:
Community and environment : Improvi
Page 39 and 40:
A Critical Care Unit, in the 850-be
Page 41 and 42:
The Tata Steel Family Initiatives F
Page 43 and 44:
The Tata Steel works, mines, collie
Page 45 and 46:
An aerial view of the planned indus
Page 47 and 48:
The Cold Rolling Complex at Jamshed
Page 49 and 50:
1933 Two new roughing and finishing
Page 51 and 52:
From the early days, the Tata Steel
Page 53 and 54:
Production Highlights • The best
Page 55 and 56:
Aspire with T3 With the objective o
Page 57 and 58:
Operational Highlights NSA increase
Page 59 and 60:
was above the average total score o
Page 61 and 62:
Blast furnaces at Corus’ integrat
Page 63 and 64:
Corus produces strong, light steel
Page 65 and 66:
Corus is British Triathlon’s main
Page 67 and 68:
Review of Corporate Sustainability
Page 69 and 70:
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 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 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: the Tata Code of Conduct, which req
Page 175 and 176: Committees In addition to the above
Page 177 and 178: employees to report concerns about
Page 179 and 180: Market Information Market Price Dat
Page 181 and 182: Distribution of Shareholding Number
Page 183 and 184: Address for Correspondence : Tata S
Page 185 and 186: Certificate To the Members of TATA
Page 187 and 188: Statement pursuant to Section 212(8
Page 189 and 190: 4. Subject to the matters referred
Page 191 and 192: Consolidated Profit and Loss Accoun
Page 193 and 194: Consolidated Cash Flow Statement fo
Page 195 and 196: Schedule forming part of the Consol
Page 197 and 198: Schedules forming part of the Conso
Page 203 and 204: SCHEDULE N : NOTES TO THE CONSOLIDA
Page 219 and 220: The Dimna reservoir near Jamshedpur
show all

100th Annual Report 2006-2007 - Tata Steel

Create successful ePaper yourself

Delete template?

Save as template?