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Tata Steel: Strong overall performance - Views on News from Equitymaster
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Tata Steel: Strong overall performance
May 24, 2013

Tata Steel has announced its March quarter (4QFY13) results. On a consolidated basis the company has reported a 1.9% YoY increase in topline. At the bottomline level the company reported a net loss as against a net profit when compared to the same period last year. Here is our analysis of the results.

Performance summary
  • Consolidated topline improved marginally by 1.9% YoY on account of lower demand in both India and Europe.
  • Consolidated operating profit declined by 37.4% YoY while the operating margins increased by nearly 3.3%.
  • On a consolidated basis, the company reported a net loss as compared to a net profit for the same period last year.
  • On a standalone basis, the company reported an increase of 13.6% YoY in net sales and a decline of 16.1% YoY in net profits.
  • For the full year ended March 2013, on a consolidated basis the company reported a 5.5% YoY decrease in net sales and a net loss as against net profits when compared to the same period last year.
  • Tata Steel took an extraordinary charge of Rs 83.5 bn. This comprises goodwill impairment of Rs 47.5 bn and Rs 36 bn of write-down of other assets. These write-downs pertain largely to European assets.
  • The company has declared a dividend of Rs 8 per share for FY13.

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