100th Annual Report 2006-2007 - Tata Steel

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Hundredth annual report 2006-07 Tata Steel Limited and its Subsidiaries Consolidated Balance Sheet as at 31st March, 2007 As at FUNDS EMPLOYED : 31-3-2006 Schedule Page Rupees Rupees Rupees crores crores crores A 194 1. a SHARE CAPITAL ................................................... 580.00 553.00 b SHARE WARRANTS (See Note 26(b), Page 216) . 147.06 — B 194 2. RESERVES AND SURPLUS ........................................... 13895.14 9728.84 3. TOTAL SHAREHOLDERS' FUNDS ................................ 14622.20 10281.84 4. WARRANTS ISSUED BY A SUBSIDIARY COMPANY ..... 17.46 — 5. MINORITY INTEREST ..................................................... 598.39 123.57 6. LOANS C 195 a Secured ................................................................. 4961.23 2503.39 D 195 b Unsecured ............................................................. 19964.30 874.04 c Total Loans ........................................................... 24925.53 3377.43 7. DEFERRED TAX LIABILITY (Net) (See Note 24, Page 216) .. 785.94 992.18 8. PROVISION FOR EMPLOYEE SEPARATION COMPENSATION (See Note13(a), Page 206) ............... 1118.30 1402.56 9. TOTAL FUNDS EMPLOYED ........................................... 42067.82 16177.58 APPLICATION OF FUNDS : E 196 10. FIXED ASSETS a Gross Block ........................................................... 23410.15 17988.09 b Less — Impairment .............................................. 100.41 94.19 c Less — Depreciation ............................................ 9089.21 7105.80 d Net Block ............................................................... 14220.53 10788.10 F 197 11. INVESTMENTS ................................................................ 16497.50 3478.90 12. GOODWILL ON CONSOLIDATION ................................ 40.37 12.24 13. PURCHASED GOODWILL .............................................. 179.29 101.76 14. A. CURRENT ASSETS a Stores and spare parts ......................................... 692.97 496.85 G 197 b Stock-in-trade ........................................................ 3195.16 2276.46 H 197 c Sundry debtors...................................................... 1686.53 1218.72 d Interest accrued on investments ......................... 1.16 1.10 I 198 e Cash and Bank balances ..................................... 10887.96 776.75 16463.78 4769.88 J 198 B. LOANS AND ADVANCES .................................... 1980.34 1138.18 18444.12 5908.06 15. Less : CURRENT LIABILITIES AND PROVISIONS K 198 A. Current Liabilities ................................................... 5444.19 3292.51 L 199 B. Provisions .............................................................. 2079.57 1074.98 7523.76 4367.49 16. NET CURRENT ASSETS ................................................ 10920.36 1540.57 M 199 17. MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) .............................................. 209.77 256.01 18. TOTAL ASSETS (Net) ...................................................... 42067.82 16177.58 Contingent Liabilities (See Note 3, Page 204) N 200 NOTES ON BALANCE SHEET AND PROFIT AND LOSS ACCOUNT 188 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
Consolidated Profit and Loss Account for the year ended 31st March, 2007 INCOME : Previous Year Schedule Page Rupees Rupees Rupees crores crores crores 1 192 1. SALE OF PRODUCTS & SERVICES ............................. 27437.29 22272.14 Less — EXCISE DUTY .................................................... 2223.98 1950.00 25213.31 20322.14 2 192 2. OTHER INCOME .............................................................. 438.07 246.74 25651.38 20568.88 EXPENDITURE : 4 193 3. MANUFACTURING AND OTHER EXPENSES .............. 18116.76 14167.39 4. DEPRECIATION ............................................................... 1010.98 860.37 19127.74 15027.76 5. Less — EXPENDITURE (OTHER THAN INTEREST) TRANSFERRED TO CAPITAL AND OTHER ACCOUNTS ....................................................... 353.60 189.66 18774.14 14838.10 3 192 6. INTEREST ........................................................................ 411.19 161.60 7. TOTAL EXPENDITURE ................................................... 19185.33 14999.70 PROFIT BEFORE TAXES AND EXCEPTIONAL ITEMS ............ 6466.05 5569.18 8. EMPLOYEE SEPARATION COMPENSATION .......... (153.03) (54.20) (See Note 13(a), Page 206) PROFIT BEFORE TAXES ............................................................. 6313.02 5514.98 9. TAXES a CURRENT TAX ...................................................... 2145.52 1619.97 b DEFERRED TAX (See Note 24, Page 216) ......... (15.52) 144.95 c FRINGE BENEFITS TAX ...................................... 17.41 28.99 2147.41 1793.91 PROFIT AFTER TAXES .............................................................. 4165.61 3721.07 10. MINORITY INTEREST ..................................................... (67.52) (18.64) 11. SHARE OF PROFITS OF ASSOCIATES ....................... 79.18 32.19 11.66 13.55 PROFITS AFTER MINORITY INTEREST AND SHARE OF PROFIT OF ASSOCIATES ......................................................... 4177.27 3734.62 12. BALANCE BROUGHT FORWARD FROM LAST YEAR/PREVIOUS PERIOD ...................... 3298.06 1920.31 AMOUNT AVAILABLE FOR APPROPRIATIONS ...................... 7475.33 5654.93 13. APPROPRIATIONS : a PROPOSED DIVIDENDS ........................................ 942.87 718.64 b TAX ON DIVIDENDS ............................................... 163.42 103.36 1106.29 822.00 c SPECIAL RESERVE ............................................... 3.95 6.17 d GENERAL RESERVE ............................................. 1524.70 1528.70 2634.94 2356.87 BALANCE CARRIED TO BALANCE SHEET ............................ 4840.39 3298.06 Basic and Diluted Earnings per Share (Rs.) (See Note 23, Page 216) 73.06 67.62 N 200 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 189
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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
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expansion of crude steel making cap
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The bulk cargo berths are being des
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Corporate Governance Pursuant to Cl
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Annexure 'A' to Directors’ Report
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Form - B Form for disclosure of par
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6 am 2 pm 12 noon 10 am 8 am 8 pm 6
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Particulars of technology imported
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Management Discussion and Analysis
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of 8%. In 2006, China produced 422.
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The Company plans to achieve these
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I. Strategic Rationale for acquisit
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Steelium (India’s first branded c
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The “G” Blast Furnace in Jamshe
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Sales of manganese ore in the domes
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d) Payments and Provisions to Emplo
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m) Stores and Spare Parts and Stock
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The Company generated EVA of Rs. 2,
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Business and Operational Risk The m
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• Raising cost efficient funds fo
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Highlights 2006-07 2005-06 Rupees R
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Auditors’ Report TO THE MEMBERS O
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(b) In our opinion and having regar
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(xii) In our opinion and according
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Profit and Loss Account for the yea
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Cash Flow Statement for the year en
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Schedule forming part of the profit
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Schedule forming part of the balanc
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Page 139 and 140: Schedule forming part of the balanc
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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
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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: 4. Subject to the matters referred
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
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100th Annual Report 2006-2007 - Tata Steel

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