See capex of Rs 12k-14k cr this year: Cyrus Mistry

Written By Unknown on Jumat, 15 Agustus 2014 | 21.03

The company's consolidated net profit stood at Rs 337.3 crore for the April-June quarter, impacted by provision for impairment of non-current assets, higher tax expenses and interest cost. Profit in the year-ago period was Rs 1,139 crore.

Cyrus Mistry, chairman, Tata Group today said that  Tata Steel is trying everything possible to turnaround its Europe business. Mistry's views come at a time when the company's European business continued to disappoint, despite having a positive operating profit.

The company's consolidated net profit stood at Rs 337.3 crore for the April-June quarter, impacted by provision for impairment of non-current assets, higher tax expenses and interest cost. Profit in the year-ago period was Rs 1,139 crore.

Speaking at the 107th Annual General Meeting of Tata Steel, Mistry said steel is a highly cyclical industry and the spread between raw material prices & steel prices shrunk the past quarter.

On the road ahead, Mistry eyes a capital expenditure of Rs 12,000-14,000 crore this year.

"We will fund it by external funding and internal accruals," he further added.

Tata Steel stock price

On August 14, 2014, Tata Steel closed at Rs 541.30, up Rs 6.60, or 1.23 percent. The 52-week high of the share was Rs 578.60 and the 52-week low was Rs 223.70.


The company's trailing 12-month (TTM) EPS was at Rs 66.02 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 8.2. The latest book value of the company is Rs 629.60 per share. At current value, the price-to-book value of the company is 0.86.


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