100th Annual Report 2006-2007 - Tata Steel

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“The welfare of the labouring class must be one of the fi rst cares of the employer.” – Sir Dorab Tata Tata Steel has not lost focus of this philosophy and has adapted it in a broader and modern context in its Vision 2007: A lot is dependent on the individual spirit and enthusiasm of the employees to realise our vision. We will accelerate our efforts to provide a work environment that will ensure a sense of purpose and personal growth for each individual. We wish to see the smile on every face every day. 1920 : Tata Steel introduced initiatives like leave with pay (enforced by law in 1948), Workers’ Provident Fund Scheme (enforced by law in 1952) and Workmens’ Accident Compensation Scheme (enforced by law in 1924). A pioneer in employee welfare, Tata Steel has invested in the power of its people and enriched, empowered and enhanced their lives. Even in its nascent years, social scientists Sidney and Beatrice Webb were brought in to work on welfare schemes. In fact, some of the initiatives introduced by Tata Steel were the first of their kind in India and some even in the western countries at that time! Tata Steel’s Human Resource policy recognises its people as the primary source of its competitiveness. It focuses on constantly updating and challenging intellectual capabilities to enable them to excel in performance. Special efforts are made for enhancing strategic thinking skills and analytical abilities of its managers and workers. As a true ‘Learning Organisation’, Tata Steel has tapped the knowledge available with its people through Knowledge Management and sharing of best practices. Maternity benefits were introduced by Tata Steel in 1928 (implemented by law in 1946). In the year 2003, Tata Steel celebrated 75 years of industrial harmony and mutual co-operation, coordination and understanding between the Management and the Union. It has twice emerged as “Asia’s Most Admired Knowledge Enterprise” among many other prestigious awards and recognition. Tata Steel aims at ensuring transparency, fairness and equity in all its interactions with its employees to create an enthused and happy workforce. Tata Steel introduced eight-hour working days in 1912, much before such a system was implemented by law even in most western countries. Free medical aid was introduced in 1915 (enforced by law in 1948). 18
Profit Sharing Bonus was granted for the first time in India by Tata Steel as early as in 1934 (enforced by law in 1965). Tata Steel built housing blocks for employees and offered civic amenities and planned infrastructure. A scheme of retiring gratuity was introduced by Tata Steel in 1937 (enforced by law in 1972). The Jamshedpur Technical Institute of Tata Steel opened in 1921. Appraisal of the staff of Tata Steel used to be hand-written in the early years! 19
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: This photograph taken by a Tata Ste
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
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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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Schedules forming part of the balan
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SCHEDULE M : NOTES ON BALANCE SHEET
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Balance Sheet Abstract and Company'
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CAPITAL ACCOUNTS Financial Statisti
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Financial Ratios 2006-07 2005-06 20
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Name Category No. of Whether No. of
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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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