100th Annual Report 2006-2007 - Tata Steel

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Directors’ Report 2006-07 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs. 289 crores (USD 67 million). The EBITDA margin improved to 11.2% as compared to 6.7% during the previous year. The Company turned around to make a Net Profit of Rs. 125 crores (USD 29 million) for 2006-07. The turnover of NatSteel Group increased by 8.5% over the previous year at Rs. 4,396 crores (USD 1.01 billion). Net Profit (after Minority Interest) for 2006-07 was Rs. 76 crores (USD 17 million) which was lower than the previous year primarily on account of increased imports from China and higher scrap prices which adversely affected the profitability of the Company. As part of regional consolidation, NatSteel Asia Pte. Ltd. acquired 100% equity stake in NatSteel Trade International Pte. Ltd., Southern NatSteel (Xiamen) Ltd. in China and a majority stake in NatSteel Vina Co. Ltd. in Vietnam Other Projects Tata BlueScope Steel Limited The 50:50 Joint Venture agreement between Tata Steel Limited and BlueScope Steel Limited to form the Tata BlueScope Steel Limited became effective from 30th May, 2006. The Building Solutions facilities at Pune, Bhiwadi and Chennai have become operational since August 2006, December 2006 and January 2007, respectively. The construction of the Coated Steel manufacturing facility at Jamshedpur is scheduled to start in the first half of 2007. The JV company offers a comprehensive range of branded steel products for building and construction applications, including the premium ZINCALUME® steel, COLORBOND® steel, LYSAGHT roll formed steel products and BUTLER metal building systems. Tata Steel (KZN) (Pty) Limited Tata Steel (KZN) (Pty) Limited, a subsidiary of the Company is setting up a High Carbon Ferro Chrome Plant with a capacity of 1,50,000 tpa at Richards Bay, South Africa. The project is likely to be commissioned by November 2007. The Dhamra Port Company Limited The Dhamra Port Company Limited (‘DPCL’), a Joint Venture company between the Company and Larsen & Toubro Limited (‘L&T’) has been set up for developing an all weather modern deep water port in the state of Orissa on the Eastern Coast of India. 76
The bulk cargo berths are being designed to accommodate upto 180,000 (DWT) vessels. A 62.7 km (route distance) rail link connecting the Port to the nearest railway station at Bhadrak on Chennai-Howrah line is included in the project scope. Tata NYK Shipping Pte. Limited Tata NYK Shipping Pte. Ltd., a joint venture shipping company between the Company and Nippon Yusen Kabushiki Kaisha (NYK Line) has been set up to cater to dry and break bulk cargo and subsequently the shipping activities. Rawmet Ferrous Industries Private Limited The Company acquired Rawmet Ferrous Industries Private Limited in Orissa, a Ferro Alloys plant with a capacity of 50,000 tpa of high carbon ferro chrome. This would supplement the Company’s existing Ferro Chrome facility at Bamnipal, Orissa. Subsidiaries A list of the Company’s subsidiaries is given in Page Nos. 184-185 of this Report. The total revenues of the Company’s subsidiaries increased to Rs. 9,058.63 crores during 2006-07 as compared to Rs. 5,481.39 crores during the previous year. This was mainly due to consolidation of Tata Steel (Thailand) Public Co. Ltd. (erstwhile Millennium Steel). Profit after taxes for 2006-07 was Rs. 21.46 crores as compared to Rs. 232.79 crores in the previous year primarily on account of financing charges in overseas Special Purpose Vehicles (SPVs) incurred for the acquisition of Corus Group plc. Safety The Company has continued to scale up its safety performance at all locations with the help from M/s. Dupont Safety Resources. 2007 has been declared as a ‘Safe Centenary Year’. Safety measures have been strengthened and employees are being trained to think on hazards/risks associated with their job. Systems have been established to make employees responsible and accountable for safety. Good safety performance is being rewarded. While ‘Safety’ has been included as a Corporate Value, the main objective is to achieve world-class standards of safety in the shortest possible time. Directors Mr. Subodh Bhargava was appointed on the Board of the Company with effect from 29th May, 2006 as an Additional Director. The shareholders subsequently approved the appointment at the Annual General Meeting held on 5th July, 2006. 2007 has been declared as a Safe Centenary Year 77
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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’
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: expansion of crude steel making cap
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
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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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