FINANCIAL HIGHLIGHTS

(₹ crore)
Tata Steel Standalone Tata Steel Group
2021-22 2020-21 2021-22 2020-21
Revenue from operations 1,29,021.35 84,132.92 2,43,959.17 1,56,477.40
Profit/(loss) before tax 44,090.65 18,609.84 50,226.87 13,843.69
Profit/(loss) after tax 33,011.18 17,077.97 41,749.32 8,189.79
Dividends 3,007.08 1,145.92 3,004.16 1,144.75
Retained earnings 76,498.67 46,480.00 55,647.78 16,476.70
Capital employed 1,70,045.84 1,40,768.39 2,04,985.59 1,75,251.28
Net worth 1,25,433.76 95,185.12 1,17,098.46 77,508.45
Borrowings 36,524.51 37,065.49 75,561.35 88,501.41
Ratio Ratio
Net debt to Equity 0.30 0.32 0.52 0.98
₹ ₹
Net worth per Share as at year end 1,027.23 816.83 969.24 676.40
Earnings per Share:
Basic 270.33 145.00 332.35 63.78
Diluted 270.13 144.99 332.09 63.78
Dividend per Ordinary Share 51.00 25.00 51.00 25.00
Employees (Numbers) 35,927 36,896 72,551 73,962
Shareholders (Numbers) 15,87,315 8,73,198

270 Integrated Report & Annual Accounts 2021-22 | 115th Year

 Performance About Stakeholders Value Statutory Financial
Snapshot Tata Steel Leadership Strategy and Materiality Creation Reports Statements

FINANCIAL RATIOS

Tata Steel Standalone Tata Steel Group

2021-22 2020-21 2021-22 2020-21
1. EBITDA/Turnover 39.88% 32.50% 26.16% 19.74%
2. PBET/Turnover 34.36% 21.24% 20.64% 9.51%
3. Return on average capital employed 29.59% 15.61% 29.13% 11.66%
4. Return on average net worth 29.93% 19.80% 42.91% 10.66%
5. Asset turnover 72.30% 58.46% 89.99% 66.64%
6. Inventory turnover (in days) 47 64 62 78
7. Debtors turnover (in days) 9 10 16 21
8. Gross block to net block 1.31 1.26 1.58 1.54
9. Net debt to equity 0.30 0.32 0.52 0.98
10. Current ratio 0.62 1.00 1.07 0.94
11. Interest service coverage ratio 22.84 5.81 12.82 3.39
12. Net worth per share (₹) 1,027.23 816.83 969.24 676.40
13. Basic earnings per share (₹) 270.33 145.00 332.35 63.78
14. Dividend payout 19% 18% 15% 37%
15. P/E ratio 4.84 5.60 3.93 12.73

1. EBITDA/Turnover (Gross Block: Cost of property, plant and equipment + Cost

of right-of-use assets + Capital work-in-progress + Cost of
(EBITDA: PBT +/(-) Exceptional items + Net finance charges
intangible assets + Intangible assets under development)
+ Depreciation and amortisation - Share of results of
equity accounted investments) (Net Block: Gross Block - Accumulated depreciation and
amortisation - Accumulated impairment)
(Net Finance Charges: Finance costs - Interest income -
Dividend income from current investments - Net gain/ 9. Net Debt to Equity: Net Debt/Average Equity
(loss) on sale of current investments)
(Net debt: Non-current borrowings + Current borrowings
(Turnover: Revenue from operations) + Non-current and current lease obligations - Current
investments - Cash and cash equivalents - Other balances
2. PBET/Turnover
with banks (including non-current earmarked balances)
Profit before exceptional items and tax/Turnover
10. Current Ratio: Total Current Assets/Current Liabilities
3. Return on Average Capital Employed: EBIT/Average Capital
(Current liabilities: Total Current liabilities - Current
Employed
maturities of Non-current borrowings and Lease
(Capital Employed: Total Equity + Non-current borrowings obligations)
+ Current maturities of Non-current borrowings and Lease
11. Interest Service Coverage Ratio: EBIT/Net Finance Charges
obligations + Current borrowings + Deferred tax liabilities)
(Net Finance Charges: Finance costs (excluding interest on
(EBIT: PBT +/(-) Exceptional items + Net finance charges)
current borrowings) - Interest income - Dividend income
4. Return on Average Net worth: PAT/Average Net worth from current investments - Net gain/(loss) on sale of
current investments)
(Net worth: Total equity)
12. Net worth per share: Net Worth/Number of Equity Shares
5. Asset Turnover: Turnover/(Total Assets - Investments -
Advance Against Equity - Assets held for sale) 13. Basic Earnings per share: Profit attributable to Ordinary
Shareholders/Weighted average number of Ordinary
6. Inventory Turnover: Average Inventory/Sale of Products in
Shares
days
14. Dividend Payout: Proposed dividend for the year/Profit
7. Debtors Turnover: Average Trade receivables/Turnover
after tax
in days
15. P/E Ratio: Market Price per share/Basic Earnings per share
8. Gross Block to Net Block: Gross Block/Net Block

271
PRODUCTION STATISTICS

’000 Tonnes
Rolled/ Hot
Iron Cold Semi- Total
Iron Crude Forged Bars Rolled Railway
Year Coal (Hot Plates Sheets Rolled Finished Saleable
Ore steel and Coils/ Materials
metal) Coils for Sale Steel
Structurals Strips
1992-93 4,126 3,739 2,435 2,477 575 78 122 163 - 7 1,179 2,084
1993-94 4,201 3,922 2,598 2,487 561 - 124 281 - 6 1,182 2,117
1994-95 4,796 4,156 2,925 2,788 620 - 137 613 - 2 1,074 2,391
1995-96 5,181 4,897 3,241 3,019 629 - 133 1,070 - - 869 2,660
1996-97 5,766 5,294 3,440 3,106 666 - 114 1,228 - - 811 2,783
1997-98 5,984 5,226 3,513 3,226 634 0 60 1,210 - 0 1,105 2,971
1998-99 6,056 5,137 3,626 3,264 622 0 0 1,653 - 0 835 3,051
1999-00 6,456 5,155 3,888 3,434 615 0 0 2,057 - 0 615 3,262
2000-01 6,989 5,282 3,929 3,566 569 0 0 1,858 356 0 647 3,413
2001-02 7,335 5,636 4,041 3,749 680 0 0 1,656 734 0 566 3,596
2002-03 7,985 5,915 4,437 4,098 705 0 0 1,563 1,110 0 563 3,975
2003-04 8,445 5,842 4,466 4,224 694 0 0 1,578 1,262 0 555 4,076
2004-05 9,803 6,375 4,347 4,104 706 0 0 1,354 1,445 0 604 4,074
2005-06 10,834 6,521 5,177 4,731 821 0 0 1,556 1,495 0 679 4,551
2006-07 9,776 7,041 5,552 5,046 1,230 0 0 1,670 1,523 0 506 4,929
2007-08 10,022 7,209 5,507 5,014 1,241 0 0 1,697 1,534 0 386 4,858
2008-09 10,417 7,282 6,254 5,646 1,350 0 0 1,745 1,447 0 833 5,375
2009-10 12,044 7,210 7,231 6,564 1,432 0 0 2,023 1,564 0 1,421 6,439
2010-11 13,087 7,024 7,503 6,855 1,486 0 0 2,127 1,544 0 1,534 6,691
2011-12 13,189 7,460 7,750 7,132 1,577 0 0 2,327 1,550 0 1,514 6,970
2012-13 15,005 7,295 8,858 8,130 1,638 0 0 3,341 1,445 0 1,518 7,941
2013-14 17,364 6,972 9,899 9,155 1,676 0 0 4,271 1,638 0 1,346 8,931
2014-15 13,694 6,044 10,163 9,331 1,778 0 0 4,259 1,836 0 1,200 9,073
2015-16 16,431 6,227 10,655 9,960 1,823 0 0 4,742 1,689 0 1,443 9,698
2016-17 21,284 6,315 13,051 11,683 1,882 0 0 6,295 1,837 0 1,481 11,351
2017-18 23,043 6,224 13,855 12,482 1,882 0 0 7,093 1,853 0 1,481 12,237
2018-19 23,374 6,546 14,237 13,228 1,959 0 0 7,801 1,858 0 1,386 12,980
2019-20 26,512 6,210 14,094 13,152 1,984 0 0 7,793 1,713 0 1,499 12,878
2020-21* 28,659 5,853 17,141 16,277 1,642 0 0 10,973 1,806 0 1,538 15,959
2021-22 30,584 4,680 18,899 18,377 1,942 0 0 12,382 2,174 0 1,407 17,906

* Includes production details of erstwhile Tata Steel BSL Limited pursuant to the merger (refer note 44, page 385 of the standalone financial statements).

FINANCIAL STATISTICS
(₹ crore)
Reserves Total Profit Profit
Borrow- Gross Net Invest- Total Depre-
Year Capital^ and Expen- before Tax after Dividend
ings Block Block ments Income ciation
Surplus diture* Tax Tax
2019-20 3,421.13 73,416.99 41,422.87 1,00,072.72 79,480.43 50,096.07 60,840.09 50,308.99 3,920.12 6,610.98 (132.82) 6,743.80 1,787.38 #
2020-21 1,977.56 93,207.56 37,065.49 1,36,665.57 1,08,051.56 36,184.13 84,888.03 60,808.93 5,469.26 18,609.84 1,531.87 17,077.97 1,145.92
2021-22 1,222.37 1,24,211.39 36,524.51 1,42,620.03 1,08,832.39 43,497.54 1,30,473.37 80,919.03 5,463.69 44,090.65 11,079.47 33,011.18 3,007.08

^ Capital includes Equity share capital, Hybrid perpetual securities and Share application money pending allotment.
* Expenditure includes excise duty recovered on sales, exceptional items and excludes depreciation.
# paid during the year and includes tax on dividend.

272 Integrated Report & Annual Accounts 2021-22 | 115th Year

 Performance About Stakeholders Value Statutory Financial
Snapshot Tata Steel Leadership Strategy and Materiality Creation Reports Statements

DIVIDEND STATISTICS

First Preference Second Preference Ordinary

(₹150) (₹100) (₹10)
Total
Year Tax on Tax on
Rate Dividend Rate Dividend@ Rate* Dividend@ ₹ lakh
dividend dividend
₹ ₹ lakh ₹ ₹ lakh ₹ ₹ lakh
₹ lakh ₹ lakh
1992-93 – – – – – 2.50 a 6,482.21 – 6,482.21
1993-94 – – – – – 3.00 b 9,655.44 – 9,655.44
1994-95 – – – – – 3.50 c 11,823.94 – 11,823.94
1995-96 – – – – – 4.50 d 15,697.11 – 15,697.11
1996-97 – – – – – 4.50 18,222.25 1,656.57 18,222.25

1997-98 – – – – – 4.00 16,198.05 1,472.55 16,198.05

1998-99 – – – – – 4.00 16,329.05 1,618.19 16,329.05
1999-00 – – 9.25 860.80 85.30 4.00 16,329.07 1,618.20 17,189.87
2000-01 – – – 1,496.58 e,f
275.88 5.00 20,264.09 1,875.50 21,760.67
2001-02 – – 8.42 228.33 21.13 4.00 14,710.88 – 14,939.21

2002-03 – – – – – 8.00 33,299.88 3,781.33 33,299.88

2003-04 – – – – – 10.00 41,625.77 4,727.58 41,625.77
2004-05 – – – – – 13.00 82,137.22 10,185.74 82,137.22
2005-06 – – – – – 13.00 82,042.66 10,092.00 82,042.66
2006-07 – – – – 15.50 1,10,432.51 16,041.72 1,10,432.51

2007-08 – – 0.4 g 2,596.11 377.12 16.00 1,36,759.54 19,866.05 1,39,355.65

2008-09 – – 2.00 12,805.48 1,860.16 16.00 1,36,443.72 19,549.31 1,49,249.20
2009-10 – – 2.00 5,367.78 779.74 8.00 82,477.15 11,500.02 87,844.93
2010-11 – – – – – 12.00 1,30,777.35 15,671.62 1,30,777.35
2011-12 – – – – – 12.00 1,34,703.22 18,157.49 1,34,703.22

2012-13 – – – – – 8.00 90,569.91 12,872.69 90,569.91

2013-14 – – – – – 10.00 1,03,740.40 6,618.86 1,03,740.40
2014-15 – – – – – 8.00 92,627.74 14,930.51 92,627.74
2015-16 – – – – – 8.00 92,471.69 14,774.46 92,471.69
2016-17 – – – – – 10.00 1,16,893.21 19,771.66 1,16,893.21

2017-18 – – – – – 10.00 h 1,38,147.27 23,554.82 1,38,147.27

2018-19 – – – – – 13.00 1,79,587.42 30,620.57 1,79,587.42
2019-20 – – – – – 10.00 1,14,593.05 – 1,14,593.05
2020-21 – – – – – 25.00 2,99,660.44 – 2,99,660.44
2021-22 – – – – – 51.00 6,23,310.71 – 6,23,310.71

a On the Capital as increased by Rights Issue of Ordinary Shares during the financial year 1992-93.
b On the Capital as increased by Ordinary Shares issued during the financial year 1993-94 against Detachable Warrants.
c On the Capital as increased by Ordinary Shares issued during the financial year 1994-95 against Detachable Warrants and Foreign Currency Convertible Bonds.
d On the Capital as increased by Ordinary Shares issued during the financial year 1995-96 against Detachable Warrants, Foreign Currency Convertible Bonds
and Naked Warrants.
e Includes Dividend of ₹22.30 lakh on 9.25% Cumulative Redeemable Preference Shares for the period April 1, 2000 to June 27, 2000.
f Includes Dividend of ₹1,198.40 lakh on 8.42% Cumulative Redeemable Preference Shares for the period June 1, 2000 to March 31, 2001.
g Dividend paid for 74 days.
h On the Capital as increased by Rights Issue of Ordinary Shares during the financial year 2017-18.
* Dividend proposed for the year
@ Includes tax on dividend.

273