100th Annual Report 2006-2007 - Tata Steel

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Hundredth annual report 2006-07 Consolidated Cash Flow Statement for the year ended 31st March, 2007 Year Ended Year Ended 31-3-2007 31-3-2006 Rupees crores Rupees crores A. Cash Flow from Operating Activities : Profit before taxes, minority interest & share of profits of associates 6313.02 5514.98 Adjustments for : Depreciation 1010.98 860.37 Income from investments (317.41) (156.21) (Profit)/Loss on sale of investments (26.36) (10.66) (Profit)/Loss on sale of assets/discarded assets written off (10.71) (42.14) Impairment of Assets 6.22 — Reversal of impairment loss — (3.33) Interest income (222.88) (45.96) Interest charged to Profit and Loss Account 634.07 207.56 Amount received on cancellation of forward covers/options (83.59) (37.73) Provision for diminution in value of investments 0.10 0.02 Employee Separation Compensation 153.03 54.20 Provision for contingencies 0.22 (2.64) Foreign exchange gain/(loss) on consolidation (120.13) (20.55) Provision for Wealth Tax 1.11 1.08 Amortisation of Goodwill 166.95 25.33 Amortisation of long term expenses 117.20 5.31 1308.80 834.65 Operating Profit before Working Capital Changes 7621.82 6349.63 Adjustments for : Trade and Other Receivables (960.13) (112.97) Inventories (639.95) (237.25) Trade Payables and Other Liabilities 1853.95 (223.93) 253.87 (574.15) Cash Generated from Operations 7875.69 5775.48 Direct Taxes paid (2144.56) (1819.83) (2144.56) (1819.83) Cash Flow before Exceptional Items 5731.13 3955.65 Employee Separation Compensation paid (228.12) (220.13) Net Cash from Operating Activities 5503.01 3735.52 B. Cash Flow from Investing Activities : Purchase of Fixed Assets (2975.11) (1932.75) Sale of Fixed Assets 48.03 51.11 Pre-operative expenses (4.75) (1.75) Purchase of Investments (28551.90) (8200.72) Acquisition of Subsidiaries/Joint Ventures (668.62) (1.11) Sale of Investments 15342.47 7356.08 Purchase of Goodwill (net) — (0.56) Interest received 204.24 73.27 Dividend received 317.41 156.21 Net Cash from Investing Activities (16288.23) (2500.22) 190
Consolidated Cash Flow Statement for the year ended 31st March, 2007 Year Ended Year Ended 31-3-2007 31-3-2006 Rupees crores Rupees crores C. Cash Flow from Financing Activities : Issue of Equity Capital 1393.20 0.73 Issue of Share Warrants 147.06 — Capital contribution received 5.59 — Proceeds from borrowings 22760.71 821.20 Repayment of borrowings (2420.97) (776.21) Amount received on cancellation of forward covers/options 94.55 43.76 Long term loan expenses (170.47) (58.93) Interest paid (612.57) (264.02) Dividend paid (716.82) (711.66) Net Cash from Financing Activities 20480.28 (945.13) Net increase/(decrease) in Cash and Cash equivalents (A+B+C) (iii) 9695.06 290.17 Opening Cash and Cash equivalents (v) 1192.90 (vi) 486.58 (as per Schedule I, Page No. 198) Closing Cash and Cash equivalents (vii) 10887.96 776.75 (as per Schedule I, Page No. 198) Notes : (i) (ii) Figures in brackets represent outflows. Interest paid is exclusive of, and purchase of Fixed Assets is inclusive of, interest capitalised Rs. 1.60 crores (2005-06 : Rs. 4.92 crores). (iii) Cash and cash equivalents include loss on foreign exchange revaluation of Rs. 224.09 crores (31.3.2006: Rs. Nil). (iv) Proceeds from borrowings includes translation gain on foreign currency loans Rs. 224.00 crores (31.3.2006 : translation gain of Rs. 15.27 crores) out of which Rs. 1.90 crores (2005-06 : Rs. 15.27 crores) has been included in purchase of Fixed Assets. (v) Includes Rs. 416.15 crores of opening cash and cash equivalents in the books of Tata Steel (Thailand) Public Company Limited (Rs. 391.02 crores), Adityapur Toll Bridge Company Limited (Rs. 0.08 crore) and Rawmet Ferrous Industries Private Limited (Rs. 0.26 crore) which became subsidiaries of the group during the year and Tata BlueScope Steel Limited (Rs. 24.79 crores) which became joint venture of the group during the year. (vi) Includes Rs. 20.85 crores of opening cash and cash equivalents in the books of The Dhamra Port Company Limited (Rs. 0.04 crore), NatSteel (Xiamen) Limited (Rs. 19.73 crores) and NatSteel Vina Company Limited (Rs. 1.08 crores) which became joint venture of the group during that year. (vii) Includes Rs. 7,225.94 crores (31.3.2006: Rs. Nil) ringfenced for a specific purpose. (viii)Previous year figures have been recast/restated wherever necessary. 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 191
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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 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
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: Consolidated Profit and Loss Accoun
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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