OREANDA-NEWS. May 22, 2012. Tata Steel Group's profit after tax (after minority interest and share of profit of associates) during the financial year 2011-12 (FY'12) was 5,390 crores (USD 1.06 billion) compared to a profit of 8,983 crores (USD 1.77 billion) in the financial year 2010-11 (FY'11). The Group's profit after tax for Q4 FY'12 was 433 crores (USD 85 million) compared to a loss of 603 crores (USD 118 million) in Q3 FY'12 and a profit of 4,176 crores (USD 821 million) in Q4 FY'11.

Group EBITDA in FY'12 was 13,533 crores (USD 2.66 billion) compared to 17,116 crores (USD 3.36 billion) in FY'11. Group EBITDA in Q4 FY'12 was 3,419 crores (USD 672 million) compared to 2,023 crores (USD 398 million) in Q3 FY'12 and 4,782 crores (USD 940 million) in Q4 FY'11.

Group consolidated turnover of 32,900 crores (USD 26.13 billion) in FY'12 was 11.9% higher than the turnover of 1,18,753 crores (USD 23.34 billion) in FY'11. The consolidated turnover of 33,999 crores (USD 6.68 billion) in Q4 FY'12 was up by 2.7% from 33,103 crores (USD 6.51 billion) in Q3 FY'12 and by 0.5% from 33,824 crores (USD 6.65 billion) in Q4 FY'11.

The Group's steel deliveries in FY'12 fell marginally by 1.1% to 24.22 million tonnes compared to 24.50 million tonnes in FY'11. Q4 FY'12 steel deliveries fell by 6.5% to 6.22 million tonnes compared to 6.65 million tonnes in Q4 FY'11, but rose by 6.5% from 5.84 million tonnes in Q3 FY'12.

Net debt at the end of March 2012 increased slightly to 47,697 crores (USD 9.38 billion) compared to 46,660 crores (USD 9.17 billion) at the end of March 2011.

Turnover at Tata Steel India in FY12 increased by 15.4% to 33,933 crores (USD 6.67 billion) from 29,396 crores (USD 5.78 billion) in FY'11. Q4 FY'12 sales of 9,479 crores (USD 1.86 billion) were up 13.7% from the 8,341 crores (USD 1.64 billion) of Q4 FY'11 and up 13.1% from the 8,382 crores (USD 1.65 billion) of Q3 FY'12.

EBITDA in FY'12 at 11,559 crores (USD 2.27 billion) was down by 0.6% from 11,625 crores (USD 2.29 billion) in FY'11. Q4 FY'12 EBITDA of 2,975 crores (USD 585 million) was down 3.3% from the 3,076 crores (USD 605 million) of Q4 FY'11, but 13.7% higher than the 2,618 crores (USD 515 million) of Q3 FY'12.

Turnover in Tata Steel Europe in FY'12 increased to 82,153 crores (USD 16.15 billion) from 73,844 crores (USD 14.52 billion) in FY'11. Q4 FY'12 sales were 19,923 crores (USD 3.92 billion) compared to 21,488 crores (USD 4.22 billion) in Q4 FY'11 and 20,535 crores (USD 4.04 billion) in Q3 FY'12. FY'12 sales increased by 3.7% over FY'11 as per Tata Steel Europe's reporting currency.

EBITDA in FY'12 was 1,777 crores (USD 349 million) compared to 4,691 crores (USD 922 million) in FY'11. Q4 FY'12 EBITDA of 146 crores (USD 29 million) was down from the 1,557 crores (USD 306 million) of Q4 FY'11, but recovered from the loss of 781 crores (USD 153 million) of Q3 FY'12.

The Board of Directors of the Company has recommended a dividend of 12 per equity share for the financial year ended March 2012.

Financial Performance Analysis:

Consolidated Financial results summary (under Indian GAAP) for the year ending March 31, 2012

All figures in USD  million, unless specified

FY12

FY11

HIGHLIGHTS

Q4 FY'12

Q4 FY'11

Q3 FY'12

24.22

24.50

Steel Deliveries (Mn tons)

6.22

6.65

5.84

26,125

23,344

Turnover

6,683

6,649

6,507

2,660

3,365

EBITDA

672

940

398

10.2

14.4

EBITDA Margin (%)

10.1

14.1

6.1

888

868

Depreciation

215

229

229

659

692

Net Finance Charges

180

166

163

1,688

2,379

Profit before Taxes (after

232

988

(11)

 

 

Exceptional Items)

 

 

 

6.5

10.2

PBT Margin (%)

3.5

14.9

(0.2)

1,060

1,766

Profit after Taxes, Minority

85

821

(118)

 

 

Interest and Share of Associates

 

 

 

4.1

7.6

PAT Margin (%)

1.3

12.3

(1.8)