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Tata Steel's financial performance during Apr-Dec 2006
January 30, 2007

Tata Steel completed the third quarter of financial year 2006-07 on a buoyant note with Turnover of Rs 5,038 crore, an increase of 20-per cent y-o-y and net profit of Rs 1,064 crore, an increase of 41-per cent y-o-y, compared to the corresponding period of the previous year. The saleable steel production and steel sales volumes increased by 11per cent y-o-y and 11.5-per cent y-o-y respectively during the third quarter of the financial year 2006-07 as compared to the corresponding period of the previous year. The company completed in-house up-gradation of its blast furnace No "E" on October 13, 2006.

The company has recorded a turnover of Rs 14,153 crore, an increase of 13-per cent y-o-y and net profit of Rs 3,119 crore, an increase of 15-per cent y-o-y during the period April-December 2006, compared to the corresponding period of the previous year. Sales volumes increased by 12-per cent y-o-y at 3.53 million tonnes during the period April-December 2006, as compared to the corresponding period of the previous year. Supplies of cold rolled and galvanised products to auto sector has increased by 21-per cent y-o-y at 0.35 million tonnes during the period April-December 2006. The total supplies of steel to auto sector has increased by 29per cent at 0.63 million tonnes during the period April-December 2006. The company has also recorded an increase in sale of branded products by 14-per cent y-o-y during the period Apr-December 2006. The turnover of all branded products increased by 17-per cent y-o-y at Rs 3,262 crore during the period April-December 2006.

The company has recorded an EBITDA margin of 42-per cent and net profit margin of 24-per cent during the period April-December 2006.

The company's greenfield projects in Orissa and Chattisgrah are progressing as per schedule with placement of equipment order for Kalinganagar Project in Orissa and commencement of the land acquisition process. Jharkhand Project is awaiting announcement of R & R policy of the state government, due to be announced by the end of January 2007. The construction work of ferrochrome project in South Africa is underway as per schedule. The company has entered into a definitive agreement to purchase Rawmet, a ferro-alloy producer in Orissa.