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NAAC Accredited A Grade (CGPA 3.16) and ISO 9001:2008 Certified

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FINANCIAL ANALYSISI OF TATA STEEL COMPANY

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NIRAV .S. CHAUHAN

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Mr. V. S. KANNAN

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KANDIVLI EDUCATION SOCIETYS

B.K. Shroff College of Arts

&

M.H. Shroff College of CommerceBhulabhai Desai Road, Kandivli (West), Mumbai400067NAAC Accredited A Grade(CGPA 3.16) and ISO 9001:2008 Certified

C E R T I F I C A T E

This is to certify that NIRAV .S. CHAUHAN of T.Y.B.Com A-31, has

successfully completed a project on FINANCIAL ANALYSIS OF TATA

STEEL COMPANY under the guidance of MR. V.S.KANNAN during the

academic year 2012-2013

Co-ordinator Project Guide Principal

Internal Examiner External Examiner

College Seal



DECLARATION

I MR. NIRAV .S. CHAUHAN of K.E.S. SHROFF COLLEGE OF

ARTS & COMMERCE, student of T.Y.BCOM A-31,Management

Account Project, hereby declare that I have completed my project title

FINANCIAL ANALYSIS OF TATA STEEL COMPANY

I also declare that this project which has been the partial fulfillment

of the requirement of the degree of T.Y.B.COM of the Mumbai

University has been the result of my efforts.

Signature of Student

_________________



ACKNOWLEDGEMENT

I have sincerely done my project alloted to me. I would like to thank our vice

Principal Mr. V. S. Kannan., the guide for giving her valuable suggestion and

guidance.

I would also like to thank our Principal Dr. LILY BHUSHAN.

It gives me immense pleasure to present this project in the Project of Management

Accounts. I would like to thank all those people who gave me their opinion without

their help this project would not be possible to submit in time.

NIRAV



INDEX

PARTICULARS PAGE NO

Introduction 1

Financial Analysis 5

- Profit & Loss A/C 6- Balance Sheet 8

- Trend Analysis 10

-Comparative Statements 12

- Cash Flow 14

- Financial Ratios 15

-Capital structure 18

Peer To Peer Comparison 20



IntroductionBacked by 100 glorious years of experience in steel making, Tata Steel is among the top

ten steel producers in the world with an existing annual crude steel production capacity

of 30 Million Tons Per Annum (MTPA). Established in 1907, it is the first integrated

steel plant in Asia and is now the world`s second most geographically diversified steelproducer and a Fortune 500 Company.

Tata Steel has a balanced global presence in over 50 developed European and fast

growing Asian markets, with manufacturing units in 26 countries.

It was the vision of the founder; Jamsetji Nusserwanji Tata., that on 27th February, 1908,

the first stake was driven into the soil of Sakchi. His vision helped Tata Steel overcome

several periods of adversity and strive to improve

against all odds.

Tata Steel`s Jamshedpur (India) Works has a crude

steel production capacity of 6.8 MTPA which is

slated to increase to 10 MTPA by 2010.



The Company also has proposed three Greenfield steel projects in the states of

Jharkhand, Orissa and Chhattisgarh in India with additional capacity of 23 MTPA and a

Greenfield project in Vietnam.

Through investments in Corus, Millennium Steel (renamed Tata Steel Thailand) and

NatSteel Holdings, Singapore, Tata Steel has created a manufacturing and marketing

network in Europe, South East Asia and the pacific-rim countries. Corus, which

manufactured over 20 MTPA of steel in 2008, has operations in the UK, the

Netherlands, Germany, France, Norway and Belgium.

Tata Steel Thailand is the largest producer of long steel products in Thailand, with amanufacturing capacity of 1.7 MTPA. Tata Steel has proposed a 0.5 MTPA mini blast

furnace project in Thailand. NatSteel Holdings produces about 2 MTPA of steel

products across its regional operations in seven countries.

Tata Steel, through its joint venture with Tata BlueScope Steel Limited, has also entered

the steel building and construction applications market.

The iron ore mines and collieries in India give the Company a distinct advantage in raw

material sourcing. Tata Steel is also striving towards raw materials security throughjoint ventures in Thailand, Australia, Mozambique, Ivory Coast (West Africa) and

Oman. Tata Steel has signed an agreement with Steel Authority of India Limited to

establish a 50:50 joint venture company for coal mining in India. Also, Tata Steel has

bought 19.9% stake in New Millennium Capital Corporation, Canada for iron ore

mining.

Exploration of opportunities in titanium dioxide business in Tamil Nadu, ferro-chrome

plant in South Africa and setting up of a deep-sea port in coastal Orissa are integral to

the Growth and Globalisation objective of Tata Steel.

Tata Steels vision is to be the global steel industry benchmark for Value Creation and

Corporate Citizenship.



Tata Steel India is the first integrated steel company in the world, outside Japan, to be

awarded the Deming Application Prize 2008 for excellence in Total Quality

Management.

THE TATA GROUPBefore we discuss at the length of the company, we would like to throw some light on

the Tata Group of companies in present day India.


http:///reader/full/tatasteelfinancialanalysiswithcommentsontrendandcomparativebalanceshhet-121226043241-p 10/28

Tata Steel is one of the ventures of the Tat Group but it has many successful companies

under one umbrella. Some of the other notable Tata concerns and their lines of

businesses are shown below.



Financial



analysis



P&L a/c For The Year Endings

*rupees in crores

ParticularsMar '12 Mar '11 Mar '10

Income

Sales Turnover 135,975.56 121,345.75 104,229.83

Excise Duty 3,075.86 2,686.43 1,924.00

Net Sales 132,899.70 118,659.32 102,305.83

Other Income 4,934.95 3,687.41 -61.87

Stock Adjustments 785.93 1,355.98 -660.04

Total Income 138,620.58 123,702.71 101,583.92

Expenditure

Raw Materials 74,555.02 61,193.71 51,855.32

Power & Fuel Cost5,935.48 4,889.18 4,885.05

Employee Cost 17,228.64 15,286.92 16,462.99

Other ManufacturingExpenses

7,456.60 6,606.07 6,053.34

Selling and AdminExpenses

0 11,009.76 9,599.68

MiscellaneousExpenses

16,950.73 4,978.70 4,687.37

Preoperative ExpCapitalized

-857.63 -219.63 -165.47

Total Expenses 121,268.84 103,744.71 93,378.28

Operating Profit 12,416.79 16,270.59 8,267.51



PBDIT 17,351.74 19,958.00 8,205.64

Interest 4,250.11 3,426.67 3,659.77

PBDT 13,101.63 16,531.33 4,545.87

Depreciation 4,516.65 4,414.82 4,491.73

Profit Before Tax 8,584.98 12,116.51 54.14

Extra-ordinary items 0 18.5 14.72

PBT (Post Extra-ordItems)

8,584.98 12,135.01 68.86

Tax 3,636.46 3,247.26 2,153.46

Reported Net Profit 4,948.52 8,856.05 -2,120.84

Minority Interest -173.14 -60.28 15.24

Share Of P/L OfAssociates

-268.11 -66.36 -126.86

Net P/L After MinorityInterest & Share OfAssociates

5,389.77 6,653.98 -340.22

Total Value Addition 46,713.82 42,551.00 41,522.96

Preference Divid end 0.21 NIL 45.88

Equ ity Divid end 1,165.46 1,150.25 709.23

Corporate Dividend Tax 185.71 163.22 154.33

Per share data

(annualized)Shares in issue (lakhs) 9,712.14 9,585.43 8,865.43

Earnings Per Share (Rs) 50.95 92.39 -24.44



BALANCESHEET AS ON 31ST MARCH------------------- in

Rs. Cr. -------------------

PARTICULARS

Mar '12(in rupees)

Mar '11(in

rupees)

Mar '10(in

rupees)

Mar '09(in

rupees)

Mar '08(in

rupees)----- in Rs. Cr. ------

12 mths 12 mths 12 mths 12 mths 12 mths

Sources OfFunds

Total Share Capital 971.41 959.41 887.41 6,203.45 6,203.30

Equity Share Capital 971.41 959.41 887.41 730.79 730.78

Share ApplicationMoney

0 178.2 0 0 0

Preference ShareCapital

0 0 0 5,472.66 5,472.52

Reserves 51,245.05 47,307.02 36,281.34 23,501.15 21,097.43

Networth 52,216.46 48,444.63 37,168.75 29,704.60 27,300.73

Secured Loans 1,919.27 2,013.00 2,259.32 3,913.05 3,520.58

Unsecured Loans 21,774.55 26,288.14 22,979.88 23,033.13 14,501.11

Total Debt 23,693.82 28,301.14 25,239.20 26,946.18 18,021.69

Total Liabilities 75,910.28 76,745.77 62,407.95 56,650.78 45,322.42

Application OfFunds

Gross Block 23,485.63 22,846.26 22,306.07 20,057.01 16,479.59

Less: Accum.Depreciation

12,119.37 11,041.16 10,143.63 9,062.47 8,223.48

Net Block 11,366.26 11,805.10 12,162.44 10,994.54 8,256.11

Capital Work inProgress

18,506.63 6,969.38 3,843.59 3,487.68 4,367.45

Investments 50,282.52 46,564.94 44,979.67 42,371.78 4,103.19

Inventories 4,858.99 3,953.76 3,077.75 3,480.47 2,604.98

Sundry Debtors 904.08 428.03 434.83 635.98 543.48



Cash and BankBalance

30.82 512.76 500.3 463.58 465

Total Current Assets 5,793.89 4,894.55 4,012.88 4,580.03 3,613.46

Loans and Advances 6,935.20 16,814.04 6,678.55 5,884.61 34,582.84

Fixed Deposits 3,918.93 3,628.78 2,733.84 1,127.02 0.04

Total CA, Loans &Advances

16,648.02 25,337.37 13,425.27 11,591.66 38,196.34

Current Liabilities 16,975.61 10,383.04 8,699.34 8,965.76 6,842.26

Provisions 3,917.54 3,547.98 3,303.68 2,934.19 2,913.52

Total CL &Provisions

20,893.15 13,931.02 12,003.02 11,899.95 9,755.78

Net Current Assets -4,245.13 11,406.35 1,422.25 -308.29 28,440.56

MiscellaneousExpenses 0 0 0 105.07 155.11

Total Assets

75,910.28 76,745.77 62,407.95 56,650.78 45,322.42

Contingent Liabilities 15,270.84 12,582.24 13,184.61 12,188.55 9,250.08

Book Value (Rs) 537.64 503.19 418.94 331.68 298.78

Analysis:-

Borrowings have been consistent. The way the company managedits borrowings was amazing. From negative balances, they turnedinto Rs 5000 crores positive balances; this was as a result of loanstaken to finance Corus deal

Investments increased significantly. It can be seen that investmentsin the last year has increased drastically from negative cash flowsto positive cash flows in investment.



trend analysis of balance sheet ason 31st march

PARTICULARS Mar '09 Mar'10

Mar '11 Mar'12

Mar'09

Mar'10

Mar'11

Mar'12

(in rupees) (inrupees)

(inrupees)

(inrupees)

% % % %

12 mths 12 mths 12 mths 12 mths

Sources Of

FundsTotal Share Capital

6,203.5 887.4 959.4 971.4 100 14.3 15.5 15.7

Equity Share Capital 730.8 887.4 959.4 971.4 100 121.4 131.3 132.9


0.0 NIL NIL NIL NIL NIL NIL NIL


5,472.7 NIL NIL NIL NIL NIL NIL NIL

Reserves 23,501.2 36,281.3 47,307.0 51,245.1 100 154.4 201.3 218.1

Revaluation Reserves 0.0 0.0 0.0 0.0

Networth 29,704.6 37,168.8 48,444.6 52,216.5 100 125.1 163.1 175.8

Secured Loans 3,913.1 2,259.3 2,013.0 1,919.3 100 57.7 51.4 49.0

Unsecured Loans 23,033.1 22,979.9 26,288.1 21,774.6 100 99.8 114.1 94.5

Total Debt 26,946.2 25,239.2 28,301.1 23,693.8 100 93.7 105.0 87.9

Total Liabilities 56,650.8 62,408.0 76,745.8 75,910.3 100 110.2 135.5 134.0

Application OfFunds

Gross Block 20,057.0 22,306.1 22,846.3 23,485.6 100 111.2 113.9 117.1


9,062.5 10,143.6 11,041.2 12,119.4 100 111.9 121.8 133.7

Net Block 10,994.5 12,162.4 11,805.1 11,366.3 100 110.6 107.4 103.4



Analysis:-

Total share capital of the company saw a great dip due to redemption of

preference shares in the year 2009.

Reserves are maintained at progressively healthy rate which is clear indication of

good profits.

Liabilities have shown dip resulting in reduction of liabilities. Company has acquired some new plants which are yet to be completed so capital

work in progress has increased substantially.

Although there is arise in total assets net current assets have diminished

marginally due to heavy provisions.

Contingent liabilities thereon has also increased in terms of 2-3% per year


3,487.7 3,843.6 6,969.4 18,506.6 100 110.2 199.8 530.6

Investments 42,371.8 44,979.7 46,564.9 50,282.5 100 106.2 109.9 118.7

Inventories 3,480.5 3,077.8 3,953.8 4,859.0 100 88.4

113.6

139.6

Sundry Debtors 636.0 434.8 428.0 904.1 100 68.4 67.3 142.2

Cash and BankBalance

463.6 500.3 512.8 30.8 100 107.9 110.6 6.6

Total Current Assets 4,580.0 4,012.9 4,894.6 5,793.9 100 87.6 106.9 126.5

Loans and Advances 5,884.6 6,678.6 16,814.0 6,935.2 100 113.5 285.7 117.9

Fixed Deposits 1,127.0 2,733.8 3,628.8 3,918.9 100 242.6 322.0 347.7


11,591.7 13,425.3 25,337.4 16,648.0 100 115.8 218.6 143.6

Current Liabilities 8,965.8 8,699.3 10,383.0 16,975.6 100 97.0 115.8 189.3

Provisions 2,934.2 3,303.7 3,548.0 3,917.5 100 112.6 120.9 133.5

Total CL & Provisions 11,900.0 12,003.0 13,931.0 20,893.2 100 100.9 117.1 175.6

Net Current Assets -308.3 1,422.3 11,406.4 -4,245.1 100 -

461.3

-3699.9 1377.

MiscellaneousExpenses

105.1 NIL NIL NIL 100 NIL NIL NIL

Total Assets

56,650.8 62,408.0 76,745.8 75,910.3 100 110.2 135.5 134.0



Comparative Analysis For The Year Endings

Particulars Mar '11 Mar '12 Absolute

Increase

/Decrease(Rupees)

Absolute

Increase

/DecreaseIn %

Sources Of Funds

Total Share Capital 958.74 993.84 35.1 3.66

Equity Share Capital 958.74 971.41 12.67 1.32

Share Application Money 195.66 17.46 (-178.2) (-91.08)

Preference Share Capital NIL 22.43 22.43 NIL

Reserves 35,926.97 41,644.81 5717.84 15.92

Networth 37,081.37 42,656.11 5574.74 15.03

Secured loans 28,604.40 27,482.74 (-1121.66) (-3.92)

Unsecured Loans 32,079.94 24,729.58 (-7350.36) (-22.91)

Total Debt 60,684.34 52,212.32 (-8472.02) (-13.96)

Minority Interest 888.9 1,091.15 202.25 22.75

Policy Holders Funds NIL NIL NIL NIL

Group Share in Joint Venture NIL NIL NIL NIL

Total Liabilities 98,654.61 95,959.58 (-2695.03) (-2.73)

Application Of Funds

Gross Block 113,399.58 129,093.78 15694.2 13.84

Less: Accum. Depreciation 61,592.15 69,638.85 8046.7 13.06

Net Block 51,807.43 59,454.93 7647.5 14.76

Capital Work in Progress 15,884.17 20,039.71 4155.54 26.16



Analysis:-

The company has shown progressive report in terms of reserves as

compared to 2011-12.reserves has increased 15.92% which indicateshealthy profits and a good backup.

Netblock too has increased at substantial rate.

Investments have gone at dip & provisions are raised more affecting

the profits directly.

Investments 7,847.34 4,021.25 (-3826.09) (-48.76)

Inventories 24,055.24 25,598.00 1542.76 6.41

Sundry Debtors 14,816.28 14,878.48 62.2 0.42

Cash and Bank Balance 10,892.60 10,801.58 (-91.02) (-0.84)

Total Current Assets 49,764.12 51,278.06 1513.94 3.04

Loans and Advances 10,180.08 12,001.92 1821.84 17.90

Fixed Deposits 0 39.39 39.39 0.00

Total CA, Loans & Advances 59,944.20 63,319.37 3375.17 5.63

Current Liabilities 29,738.61 42,790.58 13051.97 43.89

Provisions 7,089.92 8,085.10 995.18 14.04

Total CL & Provisions 36,828.53 50,875.68 14047.15 38.14

Net Current Assets 23,115.67 12,443.69 (-10671.9) (-46.17)

Minority Interest NIL NIL NIL NIL

Miscellaneous Expenses NIL NIL NIL NIL

Total Assets 98,654.61 95,959.58 (-2695.03) (-2.73)



Analysis:- Cash from financing activities is constantly negative because of heavy dividend

payment during the year. Company declared 120% dividend for the years 2011-12 & 2012-13 each respectively whereas it declared 80% dividend in the year2010-11 resulting in a dip in cash from financial activities.

Cash from operational cycle has increased due to functional or cyclical changesin debtors, creditors or stock of goods .

Although cash from investing activities is in adverse sense it has recovered agood amount as compared to the previous years

Investments increased significantly. It can be seen that investments in the lastyear has increased drastically from negative cash flows to positive cash flows ininvestment.

Cash Flow for the Year Endings as On 31st March

Particulars Mar '12 Mar '11 Mar '10

12 mths 12 mths 12 mths

Net Profit Before Tax 9857.35 9776.85 7214.3

Net Cash From Operating Activities 10256.47 8542.72 8369.22

Net Cash (used in)/from Investing Activities (-2859.11) (-13288.13) (-5254.8)

Net Cash (used in)/from Financing Activities (-7599.35) 5652.81 (-1473.1)

Net (decrease)/increase In Cash and CashEquivalents

(-201.99) 907.4 1641.25

Opening Cash & Cash Equivalents 4102.52 3234.14 1592.89

Closing Cash & Cash Equivalents 3900.53 4141.54 3234.14



FINANCIAL RATIOS

in rs.crMar '12 Mar '11 Mar '10

Investment ValuationRatios

Face Value 10 10 10

Dividend Per Share -- -- --

Operating Profit Per Share (Rs) 127.85 169.36 92.85

Net Operating Profit Per Share(Rs)

1,368.39 1,237.91 1,153.99

Free Reserves Per Share (Rs) -- 332.25 264.37

Bonus in Equity Capital 26.04 26.38 28.52

Profitability Ratios

Operating Profit Margin (%) 9.34 13.68 8.04

Profit Before Interest And TaxMargin (%)

5.87 9.93 3.63

Gross Profit Margin (%) 5.94 9.96 3.65

Cash Profit Margin (%) 4.53 8.33 2.87

Adjusted Cash Margin (%) 4.53 8.33 2.63

Net Profit Margin (%) 4 7.54 -1.95

Adjusted Net Profit Margin (%) 4 7.54 -1.95

Return On Capital Employed(%)

9.98 12.46 5.62

Return On Net Worth (%) 12.64 24.35 -8.92

Adjusted Return on Net Worth(%)

3.72 14.94 -7.97

Return on Assets Excluding 438.79 384.81 259.67



Revaluations

Return on Assets IncludingRevaluations

438.79 384.81 259.67

Return on Long Term Funds

(%)

9.98 12.54 5.29

Liquidity And SolvencyRatios

Current Ratio 1.24 1.59 1.33

Quick Ratio 0.74 0.97 0.77

Debt Equity Ratio 1.23 1.65 2.31

Long Term Debt Equity Ratio 1.23 1.63 2.3

Debt Coverage RatiosInterest Cover 2.23 3.56 1.17

Total Debt to Owners Fund 1.23 1.65 2.31

Management EfficiencyRatios

Inventory Turnover Ratio 5.31 5.46 6.14

Debtors Turnover Ratio 8.95 8.98 8.3

Investments Turnover Ratio 5.31 5.46 6.14Fixed Assets Turnover Ratio 1.22 1.24 1.07

Total Assets Turnover Ratio 1.76 1.47 1.64

Asset Turnover Ratio 1.37 1.24 1.07

Average Finished Goods Held -- 28.21 24.82

Number of Days In WorkingCapital

33.71 70.13 39.65

Profit & Loss Account

Ratios

Material Cost Composition 56.09 51.57 50.68

Imported Composition of RawMaterials Consumed

-- -- --

Selling Distribution Cost -- 5.57 5.68



Composition

Expenses as Composition ofTotal Sales

NIL NIL NIL

Cash Flow Indicator

Ratios

Dividend Payout Ratio NetProfit

25.07 14.62 NIL

Dividend Payout Ratio CashProfit

13.63 9.8 35.44

Earning Retention Ratio 14.83 76.17 --

Cash Earning Retention Ratio 77.87 86.77 67.49

Adjusted Cash Flow Times 8.55 6.11 19.66

Analysis:-

Financial ratios are clear indicators of the company performance

Net operating profit per share is more or less increased by 100 rs per share

which easily satisfies investors.

All profitable ratios are increased at substantial growth rate.

Quick ratio also known as immediate solvency ratio is at a 3year low point.It is a concern for short term liquidity payment.

Investment ratio is a lot fluctuating in nature. Is is low as compared to

previous years figure but more than the preceding previous years.

Working capital ratio has improved by a very good margin indicating

good and efficient use of technology and other variables.

Earning retention ratio has decreased because of declaration of higher

dividends during the year.

All cash flow ratios have more or less improved in some manner.



CAPITAL STRUCTURE OF TATA STEEL

Period Instrument AuthorizedCapital

IssuedCapital

- P A I D U P -

From To (Rs. cr) (Rs. cr) Shares(nos) FaceValue Capital

2010 2011 Equity Share 2100 960.13 959214450 10 959.21

2009 2010 Equity Share 1750 888.13 887214196 10 887.21

2008 2009 Equity Share 1750 731.37 730592471 10 730.59

2007 2008 Equity Share 1750 731.37 730584320 10 730.58

2006 2007 Equity Share 1750 581.07 580472856 10 580.47

2005 2006 Equity Share 600 554.07 553472856 10 553.47

2004 2005 Equity Share 600 554.07 553472856 10 553.47

2003 2004 Equity Share 440 368.37 367771901 10 367.77

2002 2003 Equity Share 440 368.37 367771901 10 367.77

2001 2002 Equity Share 440 368.37 367771901 10 367.77

2000 2001 Equity Share 440 368.37 367771901 10 367.77

1999 2000 Equity Share 440 368.37 367771880 10 367.77

1998 1999 Equity Share 440 368.37 367771512 10 367.77

1997 1998 Equity Share 440 368.37 368137405 10 368.14

1996 1997 Equity Share 440 368.37 368136568 10 368.14

1995 1996 Equity Share 440 368.36 368152085 10 368.15

1994 1995 Equity Share 440 338.35 338133839 10 338.13

1993 1994 Equity Share 375 337.54 337329848 10 337.33

1992 1993 Equity Share 375 375 230136540 10 230.14

1990 1992 Equity Share 375 230.35 230136540 10 230.14



1988 1990 Equity Share 275 230.14 230136540 10 230.14

1987 1988 Equity Share 165 156.56 15634412 100 156.34

1985 1987 Equity Share 165 82.84 8262868 100 82.63

1983 1985 Equity Share 85.5 72.23 7201638 100 72.02

1980 1983 Equity Share 88.5 72.23 7201638 100 72.02

1971 1976 Equity Share 38.78 38.74 5144027 75 38.58

1961 1971 Equity Share 27.75 27.72 3674305 75 27.56

1960 1961 Equity Share 27.75 27.75 3671346 75 27.54

1959 1960 Equity Share 23.11 23.11 3069665 75 23.02



BALANCE SHEET OF TATA STEEL'S COMPETINGCOMPANIES

TataSteel

SAIL JSWSteel

VisaSteel

Mar '12 Mar '12 Mar '12 Mar '12

Sources Of Funds

Total Share Capital 971.41 4,130.53 563.18 110

Equity Share

Capital

971.41 4,130.53 284.15 110


0 0 0 0


0 0 279.03 0

Reserves 51,245.05 35,680.79 17,934.31 124.43

Networth 52,216.46 39,811.32 18,497.49 234.43

Secured Loans 1,919.27 7,481.91 9,495.46 1,127.59

Unsecured Loans 21,774.55 8,615.30 2,806.76 75.64Total Debt 23,693.82 16,097.21 12,302.22 1,203.23

Total Liabilities 75,910.28 55,908.53 30,799.711,437.66

Application OfFunds

Gross Block 23,485.63 41,367.19 35,118.06 991.29


12,119.37 24,239.81 8,000.44 209.45

Net Block 11,366.26 17,127.38 27,117.62 781.84


18,506.63 28,049.14 3,153.51 1,777.68



Investments 50,282.52 684.94 4,413.42 61.04

Inventories 4,858.99 13,742.37 5,179.08 352.51

Sundry Debtors 904.08 4,761.32 1,362.06 51.58

Cash and BankBalance 30.82 6,415.70 1,259.47 76.65

Total CurrentAssets

5,793.89 24,919.39 7,800.61 480.74

Loans andAdvances

6,935.20 5,556.17 6,407.82 234.09

Fixed Deposits 3,918.93 0 1,698.13 0


16,648.02 30,475.56 15,906.56 714.83

Current Liabilities 16,975.61 14,606.26 19,531.58 1,891.28

Provisions 3,917.54 5,822.23 259.82 6.45

Total CL &Provisions

20,893.15 20,428.49 19,791.40 1,897.73

Net CurrentAssets

-4,245.13 10,047.07 -3,884 -1,182.90

Total Assets 75,910.28 55,908.53 30,799.71 1,437.66

Analysis:-

Even though SAIL has much more total share capital amount than that of Tata

steel the strength and progress of Tata steel is much healthier than later.

Increasing provisions is the only growing concern for Tata steel as it is directly

affecting NET CURRENT ASSETS and its profit margins.

Inner strength and basics of Tata steel is much more profit generating than that

of others.

tatasteelfinancialanalysiswithcommentsontrendandcomparativebalanceshhet-121226043241-phpapp01

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