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TATA STEEL LTD

Regd. Office: BOMBAY HOUSE, 24 HOMI MODY STREET, MUMBAI - 400 001

Audited Financial Results for the Quarter / Nine months ended on 31st December 2009

Quarter Quarter Nine months Nine months Financial Year
Particulars ended on ended on ended on ended on ended on
31-12-2009 31-12-2008 31-12-2009 31-12-2008 31-03-2009

(1) (2) (3) (4) (5)
(A)
1 Steel Production Tonnes 1,687,659 1,234,764 4,749,056 3,751,202 5,374,939
2 Steel Sales " 1,596,487 1,071,805 4,471,078 3,451,350 5,231,605
3 Export turnover (F.O.B. Value) Rs. Crores 626.09 391.65 1,476.15 2,345.98 3,308.76
USD Mn 132.64 79.89 307.80 539.87 732.50
(B)
1 a) Net Sales / Income from Operations Rs. Crores 6,307.48 4,750.61 17,491.35 17,563.73 24,024.45
b) Other Operating Income " 67.40 59.79 191.19 213.04 291.32
2 Total Income [ 1(a) + 1(b) ] " 6,374.88 4,810.40 17,682.54 17,776.77 24,315.77
3 Total Expenditure
a) (Increase) / decrease in stock-in-trade " 42.33 (636.02) 50.38 (1,222.21) (289.27)
b) Purchases of finished, semi-finished steel & other products " 59.50 93.10 120.05 329.68 358.87
c) Raw materials consumed " 1,422.31 1,610.27 4,381.00 3,960.01 5,709.91
d) Staff Cost " 652.25 568.86 1,680.57 1,639.26 2,305.81
e) Purchase of Power " 303.19 263.54 929.42 803.53 1,091.37
f) Freight and handling " 358.14 262.23 981.19 897.79 1,251.23
g) Depreciation " 262.18 251.31 771.72 716.93 973.40
h) Other Expenditure " 1,380.26 1,173.70 3,718.58 3,688.95 4,754.42
i) Total Expenditure (3a to 3h) " 4,480.16 3,586.99 12,632.91 10,813.94 16,155.74
Profit / (Loss) from Operations before Other Income, Net Finance
4 " 1,894.72 1,223.41 5,049.63 6,962.83 8,160.03
Charges & Exceptional Items & Tax (2 - 3)
5 Other Income " 263.56 11.72 385.95 264.82 308.27
Profit / (Loss) from Operations before Net Finance Charges,
6 " 2,158.28 1,235.13 5,435.58 7,227.65 8,468.30
Exceptional Items & Tax (4 + 5)
7 Net Finance Charges " 415.72 348.20 1,149.88 844.75 1,152.69
8 Profit / (Loss) before Exceptional Items & Tax (6 - 7) " 1,742.56 886.93 4,285.70 6,382.90 7,315.61
9 Exceptional Items
a) Exchange Gain / (Loss) " - (126.80) - (775.64) -
Total Exceptional Items " - (126.80) - (775.64) -

10 Profit / (Loss) before Tax [ 8 + 9 ] " 1,742.56 760.13 4,285.70 5,607.26 7,315.61

11 Tax Expense " 550.81 293.89 1,401.18 1,864.81 2,113.87

12 Net Profit (+) / Loss (-) [ 10 - 11] " 1,191.75 466.24 2,884.52 3,742.45 5,201.74

Paid-up Equity Share Capital
13 " 887.41 730.78 887.41 730.78 730.79
[Face value Rs.10 per share]

14 Reserves excluding revaluation reserves " 23,972.81

Basic Earnings per share (not annualised)
15 Rupees 13.43 5.94 34.98 49.90 69.45
(after Exceptional items)

Diluted Earnings per share (not annualised)
16 Rupees 13.24 5.67 33.39 45.53 62.94
(after Exceptional items)

17 Aggregate of public shareholding
Number of shares Nos. 604,715,374 482,487,356 604,715,374 482,487,356 482,522,747
% of shareholding % 68.56% 66.04% 68.56% 66.04% 66.05%
18 Promoters and promoter group shareholding
a) Pledged / encumbered
- Number of shares Nos. 97,400,000 97,400,000 98,900,000
- % of shares to total share holding of promoter & promoter group % 35.13% 35.13% 39.87%
- % of shares to total sharecapital of the company % 10.98% 10.98% 13.54%
b) Non-encumbered
- Number of shares Nos. 179,848,857 179,848,857 149,165,857
- % of shares to total share holding of promoter & promoter group % 64.87% 64.87% 60.13%
- % of shares to total sharecapital of the company % 20.27% 20.27% 20.41%

28 1.32 13.125.12 19.315.56 886.374.227.67 Unallocated 3.470.545.666. Results and Capital Employed Rs.39 6.178.99 (131.97 294.20 1.94 1.49 369.72) 76.61 Exceptional Items: Exchange Gain / (Loss) .51 Others 248.127.24 2.689.23 18.45 5.05 4.10) (127.90 7.29 (61.682.07 2.12 19.99 Net sales/ income from operations 6.Crores Quarter Quarter Nine months Nine months Financial Year Particulars ended on ended on ended on ended on ended on 31-12-2009 31-12-2008 31-12-2009 31-12-2008 31-03-2009 (1) (2) (3) (4) (5) Revenue by Business Segment: Steel business 5.636.58) (27.60 16.04 325.23 Total 6.84 399. (126.72 348.20 1.88 844.840.43 1.648.435.401.33 278.65 .86 Others 410.742.64 5.802.72 3.315.12 1.315.94 Others 16.382.869.401.58 7.802.76 Less: Inter segment revenue 391.TATA STEEL LTD Segment Revenue.33 248.30 Less: Net Finance Charges 415.67 Ferro Alloys and Minerals 523.70 6. exceptional items and tax: Steel business 2.26) (119.284.97 425.235.06 Total 16.730.13 4.71 545.253.152.04 325.226.37 5.149.89 1. (775.49 1.014.40 17.113.65 8.31 Ferro Alloys and Minerals 113.69 Profit / (Loss) before exceptional items & tax 1.83 992.553.201.07 2.53 4.41 Ferro Alloys and Minerals 294.58 12.41) Total Segment results before net finance charges.77 21.61 Less: Tax Expense 550.125.191.566.87 Net Profit (+) / Loss (-) 1.029.01 1.77 24.13 5.470.742.60 19.689.607.74 Segment Capital Employed: Steel business 12.884.54 17.55 7.47 201.88 4.60 15.06 1.52 3.75 466.05 4.31 16.810.285.26 7.81 293.75 1.285.77 Segment results before net finance charges.154.78 25.88 143.81 2.276.776.401.18 1.832.80 1.00 315.111.315.232. exceptional items and tax: 2.071.54) Unallocated income / (expenditure) 13.465.468.71 545.391.49 1.766.56 760.58 12.64) - Profit / (Loss) before tax 1.32 13.04 15.742.97 5.72 2.93 4.80) .840.158.864.674.180.70 5.00 (29.233.

215.5% Convertible Bonds due in 2014.36 at any time on or after December 31. 2009 and Rs. wherever necessary. 4. The above financial results do not include the consolidated financial performance of the Company. (Corus) for the quarter / nine months ended December 31.94 mn were issued in exchange of CARS having face value of US$ 493 mn.01 crores for debt instruments prematurely extinguished during the current quarter. 25. The offer closed on November 16. The Company had issued Convertible Alternate Reference Securities (CARS) for an aggregate principal amount of US$ 875 mn in September 2007. The amortization includes a charge of Rs.Notes: 1. the Net Profit for the period ended December 31. Tata Steel Ltd. H. 412 complaints pertain to non-receipt of dividend on Ordinary Shares & Cumulative Convertible Preference Shares (CCPS).87 crores (by Rs.05 crores for the quarter) has been adjusted to the carrying value of capital assets during the nine months ended December 31. 9. 5. 185. The Company invited holders of the CARS to offer to exchange their holdings for 4. M. 2010.01 crores (Rs. Accordingly. Had the Company followed the previous practice of recognizing the translation gain / loss in the profit & loss account. 494.71 crores (Rs. Figures for the previous period have been regrouped and reclassified to conform to the classification of the current period. The aggregate principal amount of CARS remaining outstanding after this exchange is US$ 382 mn. 2009 would be published in February. 2010 Managing Director .5% Convertible Bonds are convertible at Rs. 2009 and up to the close of business on November 11. The above results have been reviewed by the Audit Committee and were approved by the Board of Directors in their meeting of date. The consolidated financial results of the Company including Tata Steel Europe Ltd. 605. 2. 2009: Opening Balance Received during the quarter Resolved during the quarter Closing Balance 22 685 233 474* * Out of 474 unresolved complaints.5325 at US$/INR rate of 46. 2014. 6.68 crores during the quarter). 3. Information on investor complaints pursuant to clause 41 of the listing agreement for the quarter ended December 31. 153. The 4.71 crores for the quarter) being amortization of cumulative net loss has been charged to profit & loss account. 2009 would have been higher by Rs. all complaints relating to unpaid dividends and fractional payments are since resolved. As on date. Nerurkar Mumbai: January 28. an exchange translation gain of Rs. The Company adopted the Companies (Accounting Standards) Amendment Rules 2009 relating to Accounting Standard 11 during the last quarter of 2008-09. 2009 and Convertible Bonds worth US$ 546. 27 complaints pertain to non-receipt of interim dividend on CCPS and 25 complaints pertain to non-receipt of fractional payment in respect of CCPS.163.