100th Annual Report 2006-2007 - Tata Steel

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Milestones in time Creating an enthused workforce Enhancing shareholder value Table of Contents Annual General Meeting on Wednesday, 18th July, 2007 at Birla Matushri Sabhagar at 3.30 p.m. As a measure of economy, copies of the Annual Report will not be distributed at the Annual General Meeting. Shareholders are requested to kindly bring their copies to the meeting. Visit us at : www.tatasteel.com E-mail : cosectisco@tata.com Tel.: +91 22 66658282 Disclaimer: Consolidated financial results of Tata Steel for the year 2006-07 do not include the financial performance of Corus as the acquisition was completed after 31st March, 2007. Chairman’s statement ......................................................................................4 Board of Directors...............................................................................................6 Senior Management .........................................................................................8 Performance highlights 2006-07 ..............................................................9 Financial highlights 2006-07 ....................................................................10 Milestones in time ...........................................................................................12 Creating an enthused workforce ...........................................................16 Redefining steel with world-class products ...................................22 Enhancing shareholder value ..................................................................28 Improving the quality of life .....................................................................34 Growth and globalisation...........................................................................44 Domestic Operations ....................................................................................50 International Operations .............................................................................54 Corus .......................................................................................................................58 Management of Ethics .................................................................................64 Corporate Sustainability Initiatives .......................................................65
Redefining steel with world-class products Improving the quality of life Growth and globalisation Directors’ Report ...............................................................................................68 Management Discussion and Analysis ..............................................89 Highlights .......................................................................................................... 113 Sources & Utilisation of Funds ............................................................. 114 Auditors’ Report ............................................................................................ 115 Annexure to the Auditors’ Report ..................................................... 116 Balance Sheet ................................................................................................ 120 Profit & Loss Account ................................................................................ 121 Cash Flow Statement ................................................................................ 122 Schedules forming part of the Profit & Loss Account ................................................................................ 124 Notes to Schedule 4 .................................................................................. 126 Schedules forming part of the Balance Sheet .......................... 127 Notes on Balance Sheet & Profit and Loss Account ............... 141 Balance Sheet Abstract and Company’s General Business Profile .......................................................................... 161 Production Statistics .................................................................................. 162 Financial Statistics ....................................................................................... 163 Dividend Statistics ...................................................................................... 164 Financial Ratios ............................................................................................. 165 Corporate Governance Report............................................................ 166 Section 212 of the Companies Act, 1956, related to Subsidiary Companies ...................................................... 184 Consolidated Financial Statements Auditors’ Report ............................................................................................ 186 Consolidated Balance Sheet ................................................................. 188 Consolidated Profit and Loss Account ........................................... 189 Consolidated Cash Flow Statement ................................................ 190 Schedules forming part of the Consolidated Profit and Loss Account ........................................... 192 Schedules forming part of the Consolidated Balance Sheet ................................................................. 194 Notes to the Consolidated Financial Statements .................... 200
Page 1 and 2: A Century of Trust 100th Annual Rep
Page 3: Tata Steel is Asia’s first and In
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
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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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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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