OREANDA-NEWS. Club Enerji, Tata Power’s nationwide energy conservation movement, today organised a special programme for Independence Day in collaboration with Rizvi Springfield School, Bandra, Mumbai, on water conservation. The objective of the initiative was to create awareness among students about the importance of water as a natural resource. In order to make this initiative a great success, Club Enerji also organised an exhibition, cyclothon and tree plantation drive to instill the message of sustainability among students.

The exhibition on water conservation was organised in the school auditorium and primary and secondary students of the school participated with great enthusiasm. The students created projects focusing on topics like conservation of water, primary sources and uses of water, secondary drought-prone areas, water conversation and management, rain water harvesting plant, etc. The students were also educated on the need to save water as “water is a precious commodity.”

Close to 200 students from classes V to VIII participated in a cycle rally and sensitised the citizens of Bandra through posters and slogans with crucial messages of environment conservation. The students of Club Enerji feel strongly for this cause and have sensitised their peers and society as high levels of urbanisation have transformed the erstwhile green city of Mumbai into a concrete jungle. Post the rally, a sapling plantation drive was conducted where 140 saplings were planted in the school premises and housing societies in the area.

Speaking on the initiative, Anil Sardana, managing director, Tata Power, said, “Tata Power has always supported the cause of a “Green Mumbai” and we are extremely proud to have instilled the feeling of caring for the environment in these school children. With the launch of the Water Management Module, we are now taking sure steps in the direction of saving precious resources and also educating students about clean sources of energy.”

Tata Steel records strong turnaround in net profit for the quarter ending June 30, 2013

Tata Steel group today declared its consolidated financial results for the first quarter ended June 30, 2013. Group profits for the quarter were Rs1,139 crore compared to a loss of Rs6,529 crore in Q4 FY13 and profit of Rs598 crore in Q1 FY13. This improvement was on the back of robust performance by the Indian operations and improved performance at the European operations.

Group performance highlights

Group steel deliveries in Q1 FY14 were 6.08 million tonnes versus 6.56 million tonnes in Q4 FY13, and 5.68 million tonnes in Q1 FY13.

Group consolidated turnover was Rs32,805 crore in Q1 FY14 compared to Rs34,650 crore in Q4 FY13 and Rs33,821 crore in Q1 FY13.

Group EBITDA was Rs3,755 crore in Q1 FY14 compared to Rs4,368 crore in Q4 FY13 and Rs3,581 crore in Q1 FY13.

Group profit before tax for Q1 FY14 was Rs1,494 crore versus a loss of Rs5,576 crore in Q4 FY13 and a profit of Rs1,416 crore in Q1 FY13. The Q4 FY13 loss included non-cash impairment charges of Rs8,356 crore.

Group profit after tax (after minority interest and share of profit of associates) for Q1 FY14 improved by Rs7,668 crore to Rs1,139 crore from the loss of Rs6,529 crore in Q4 FY13. Group profit was Rs598 crore in Q1 FY13.

Cash and cash equivalents as on June 30, 2013, were Rs10,178 crore and net debt was Rs61,289 crore. Total liquidity including undrawn credit lines was Rs17,144 crore.

India

The Indian operations recorded robust performance despite softer markets, weakening economic conditions and a seasonally weak quarter.

Best-ever production was achieved for hot metal and from the thin slab casting and rolling plant, while several facilities such as LD#3, the cold rolling mill, the new bar mill and the merchant mill achieved best-ever quarterly production.

Deliveries totalled 2 million tonnes in Q1 FY 2013-14 (Q1 FY14) compared to 1.59 million tonnes in Q1 FY 2012-13 (Q1 FY13), an increase of 25.8 percent primarily due to the ramp up of capacity at Jamshedpur. Deliveries in Q4 FY13 were 2.28 million tonnes. Q1 FY14 volumes were lower on quarter-on-quarter basis due to seasonal effects.

Turnover in Q1 FY14 was Rs9,455 crore, an increase of 6.1 percent over Q1 FY13 turnover of Rs8,908 crore. Turnover in Q4 FY13 was Rs10,771 crore. Net realisation increased in Q1 FY14 compared to Q4 FY13 across both flat and long products.

The company’s focus on customers and strong relationships helped to increase sales across sectors, including automotive, general engineering and the SME segment. Flat product sales volume increased by 44 percent y/y with value-added products sales increasing by 15 percent. The long products segment continued to expand its retail reach and provide higher value-added products to its customers.

On the back of strong operating performance, the Indian operations generated EBITDA of Rs2,897 crore for Q1 FY14 compared to Rs2,791 crore in Q1 FY13. EBITDA was Rs3,714 crore in Q4 FY13. The underlying EBITDA margin in Q1 FY14 was 30.6 percent, an improvement from the underlying EBITDA margin of 29.3 percent in Q4 FY13.

Profit after tax in Q1 FY14 was Rs1,356 crore. Profit after tax was Rs1,357 crore in Q1 FY13 and Rs1,309 crore in Q4 FY13.

Europe

The European operations maintained the improvement in underlying performance on the back of upgrades at key production facilities at Port Talbot and Ijmuiden in Q4, which helped strengthen the operating platform.

Deliveries totalled 3.14 million tonnes in Q1 FY14, slightly lower than the 3.21 million tonnes in Q1 FY13 largely due to soft market demand. Deliveries were 3.42 million tonnes in Q4 FY13.

The increase in production was accompanied by an improvement of 5 percent in the proportion of differentiated products in the June quarter alone and closer relationships with global OEMs in core home and regional markets. This focus was complemented by further rigorous management of costs and cash flows.

Turnover in Q1 FY14 was Rs18,432 crore versus Rs19,166 crore in Q4 FY13 and Rs20,406 crore in Q1 FY13. Average revenue per tonne increased in Q1 FY14 compared to Q4 FY13.

Q1 FY14 EBITDA was Rs777 crore, an increase over the Q4 FY13 EBITDA of Rs613 crore and the Rs620 crore in Q1 FY13 due to improved core capabilities.

South East Asia

The South East Asian operations were affected by a two-month shutdown for a plant upgrade in Singapore. The profitability was also affected by the sharply narrowing spread in the region witnessed during the last quarter. The Singapore operations have resumed since August.

Deliveries totalled 0.86 million tonne in Q1 FY14, up from 0.72 million tonne in Q1 FY13 and 0.8 million tonne in Q4 FY13.

Volumes in China have been ramped up to a run rate of 1mtpa.

Turnover in Q1 FY14 was Rs3,908 crore compared to Rs3,486 crore in Q4 FY13 and Rs3,372 crore in Q1 FY13.

Q1 FY14 EBITDA was Rs93 crore versus Q4 FY13 EBITDA of Rs224 crore and Rs95 crore in Q1 FY13.