Tata Steel reports Consolidated Financial Results for the Fourth Quarter and Full Year Ended March 31, 2015
05/25/2015 - Tata Steel Group (the “Company”) today declared its Consolidated Financial Results for the full year (FY’15) and fourth quarter (Q4FY’15) ended March 31, 2015.
The Company recorded deliveries of 26.32 million tonnes for the year and 7.06 million tonnes for the quarter. Turnover was Rs139,504 crores for the year and Rs33,666 crores for the quarter.
Consolidated Performance Highlights:
All figures in Rs crores unless specified
Indian Operations
The Indian steel industry witnessed subdued demand across steel-consuming industries. There was a surge in low priced imports especially from China, Japan and Korea, which led to a sharp correction in steel prices especially during the last few months of the year.
Despite these challenges, the Indian operations of the Company registered best ever production in Hot Metal, Crude Steel and Saleable Steel and successfully ramped up deliveries across its key business segments.
European Operations
Volume output in Europe was stable, despite being constrained by demand and operational issues. Lower turnover was due to reduced sales prices. Operating profit improved nevertheless, with EBIT turning positive.
Further strong progress was made in the market differentiation strategy in Europe. Differentiated products sales represented more than a third of overall sales for the year as a whole. Sales of new products surged 16% by volume and the company raised the total of new products in its portfolio to 113 by the end of FY15.
South East Asia Operations
The South East Asian operations were affected by weak demand and a contraction in the rebar-scrap spread on the back of a significant increase in imports from China.
Deliveries increased at NatSteel’s operations in Singapore though they declined in China. Tata Steel Thailand also recorded an increase in sales, including value-added domestic rebar sales, during the fourth quarter.
Click here for a more detailed breakdown of Tata Steel's Consolidated Financial Results.
Consolidated Performance Highlights:
All figures in Rs crores unless specified
| FY'15 | FY'14 | Q4FY'15 | Q3FY'15 | Q4FY'14 | |
| 26.32 | 26.56 | Steel Deliveries (million tonnes) | 7.06 | 6.30 | 7.62 |
| 139,504 | 148,614 | Turnover | 33,666 | 33,633 | 42,428 |
| 12,745 | 16,377 | EBITDA | 1,580 | 3,090 | 4,917 |
| 5,944 | 5,841 | Depreciation | 1,513 | 1,451 | 1,472 |
| 4,848 | 4,337 | Finance Costs | 1,195 | 1,167 | 1,169 |
| (3,929) | (28) | Exceptional Items | (4,811) | - | (46) |
| (1,388) | 6,722 | PBT | (5,837) | 578 | 2,436 |
| (3,926) | 3,595 | Profit after Taxes, Minority Interest and Share of Associates | (5,674) | 157 | 1,036 |
| (42.24) | 35.19 | Basic and Diluted Earnings per Share (₹) | (58.88) | 1.16 | 10.20 |
Indian Operations
The Indian steel industry witnessed subdued demand across steel-consuming industries. There was a surge in low priced imports especially from China, Japan and Korea, which led to a sharp correction in steel prices especially during the last few months of the year.
Despite these challenges, the Indian operations of the Company registered best ever production in Hot Metal, Crude Steel and Saleable Steel and successfully ramped up deliveries across its key business segments.
European Operations
Volume output in Europe was stable, despite being constrained by demand and operational issues. Lower turnover was due to reduced sales prices. Operating profit improved nevertheless, with EBIT turning positive.
Further strong progress was made in the market differentiation strategy in Europe. Differentiated products sales represented more than a third of overall sales for the year as a whole. Sales of new products surged 16% by volume and the company raised the total of new products in its portfolio to 113 by the end of FY15.
South East Asia Operations
The South East Asian operations were affected by weak demand and a contraction in the rebar-scrap spread on the back of a significant increase in imports from China.
Deliveries increased at NatSteel’s operations in Singapore though they declined in China. Tata Steel Thailand also recorded an increase in sales, including value-added domestic rebar sales, during the fourth quarter.
Click here for a more detailed breakdown of Tata Steel's Consolidated Financial Results.
