Professional Documents
Culture Documents
• FY 11 represents the period from 1st April 2010 to 31st March 2011
• FY 10 represents the period from 1st April 2009 to 31st March 2010
Way
Forward
INVESTOR RELATIONS 3
Tata Motors Consolidated P&L – (Audited)
Tata Motors Group Global sales volume crosses 1 million ;
Turnover crosses Rs 1 lakh crores and PBT crosses Rs 10,000 crores
INVESTOR RELATIONS 4
Tata Motors Consolidated Balance Sheet (Audited)
Total Funds Employed 54,305.6 45,299.1 Overall capex spend of ~ Rs 8,521 crs
in FY11. (JLR ~ GBP 775 mio); (TML ~
Application of funds Rs 2,391 crs)
Fixed Assets (Net) 43,493.1 38,506.3
Financing business continues growth
Goodwill (on consolidation) 3,584.8 3,422.9
and profitability with book size of ~ Rs
Investments 2,544.3 2,219.1
Deferred Tax Assets (Net) 632.3 426.0 9,878 crs on March 31, 2011
Net Current Assets 4,051.1 724.8
Total Funds Utilised 54,305.6 45,299.1
INVESTOR RELATIONS 5
Tata Motors Standalone P&L – (Audited)
Sales volume over 8 lakhs ;
Turnover ~ Rs 48,000 crores and PBT crosses Rs 2,000 crores
* Cash Profit = EBITDA + Other Income - Product Development Expenses – Net Interest - Tax Paid
EBITDA excludes ‘Other Income’
INVESTOR RELATIONS 6
Tata Motors Standalone Balance Sheet (Audited)
Shareholder Funds 20,013.3 14,965.5 In Oct 2010, funds of USD 750 mio were raised
Loan Funds 15,898.7 16,594.5 via QIP of Ordinary & A Ordinary shares as part
of de-leveraging initiative.
Deferred Tax Liability (Net) 2,023.2 1,508.6
FCCBs of ~ USD 326 mio equivalent were
Total Funds Employed 37,935.2 33,068.6
converted to equity during the year and
2,35,70,426 Shares were allotted against the
Application of funds conversion.
Fixed Assets (Net) 17,475.6 16,436.0
Net Debt/Equity at 0.67 as on March 31, 2011
Investments 22,624.2 22,336.9
Foreign Currency Monetary The Board of Directors recommended a
Item Translation Difference Dividend of Rs 20 per Ordinary Shares and Rs
Account (Net) - 161.7
Net Current Assets (2,164.6) (5,866.0) 20.50 per A Ordinary Shares for FY 2010-11
Total Assets (net) 37,935.2 33,068.6
INVESTOR RELATIONS 7
Financial
Highlights
Passenger Vehicles
Subsidiaries
Exports
Way
Forward
INVESTOR RELATIONS 8
Continued growth in Commercial Vehicles
Domestic CV industry grew ~
Y-o-Y Growth in the CV markets continued through the year
27% in FY 11 supported by sustained economic growth leading to significant
revival in Exim trade, coupled with infrastructure development,
458,828
23% pick up in mining & construction activities, favorable financing
373,842 environment and healthy freight availability.
INVESTOR RELATIONS 9
Passenger vehicles also grew
Passenger vehicles industry continued to grow (~30%) Y-o-Y in FY
Growth driven by relatively young 11 with better economic outlook, rise in disposable income, several
product portfolio new offerings, higher discounts to mitigate intensifying competition,
availability of financing alternatives, increased rural penetration.
319,712
23% Tata Passenger vehicles’ sales volumes grew ~ 27% led by growth
in sales of Nano, Manza, Indigo CS and Safari. In FY 2011, the
260,020
company crossed 2 million passenger vehicle sales since inception.
180,091
The ‘Mini’ segment growth was driven by Nano sales which clocked
158,093 ~70000 units in FY11. The company continues to undertake focused
marketing initiatives specific to Nano. Cumulative sales of Tata Nano
crossed 100,000 mark during FY11.
96,455
68,195 The industry for the “Midsize” segment grew by ~ 30% Y-o-Y while
the sales of the Tata passenger cars in the segment grew
33,507 42,277
substantially by 55% driven by the sales of Manza.
FY 10 FY 11
Sales of Utility Vehicles showed a healthy growth of ~ 26% Y-o-Y
UV Midsize Small Car
with improved sales of Sumo, Safari and the new launches in the
Note: Figs includes JLR and Fiat sales segment like Aria and Venture.
Source: SIAM and Company analysis New products launched in FY 11 – Indigo CS e-series, Aria, Venture,
Market Share for Passenger vehicles in Vista 90, Indica eV2, Manza Elan
FY11 stood at 13.0% We took price increases of ~ 4-6% on Tata Passenger cars
INVESTOR
INVESTOR RELATIONS
RELATIONS 10
Exports Markets show substantial growth with
improved macro economic indicators
INVESTOR RELATIONS 11
Financial
Highlights
Tata Technologies
Tata Daewoo
Subsidiaries
HVAL / HVTL
Way
Forward
INVESTOR RELATIONS 12
Jaguar Land Rover Plc – P&L (Audited)
Cash Profit = EBITDA + Other Income - Product Development Expenses – Net Interest - Tax Paid
EBITDA margins for FY11 increase to 16.3% supported by better product mix, market
mix, favorable exchange rates & impact of margin improvement measures.
INVESTOR RELATIONS 13
Jaguar Land Rover Plc : Highlights
• Improved macroeconomic conditions, strong demand for products across markets and
internal actions improved profitability over prior year.
• Jaguar Land Rover reported a profit after tax of £ 1,043 mn for FY 11 as against £ (14) mn
in FY 10
• Product highlights: Jaguar XJ , Jaguar XKR-75, Land Rover 11MY Freelander incl. 2.2l
turbo diesel engine , Range Rover Ultimate Edition & Discovery Landmark Limited
edition
• Net Debt as on Mar 31, 2011 at GBP 233 mn vs GBP 603 mn as on March 31, 2010
INVESTOR RELATIONS 14
Jaguar Land Rover Wholesale volumes & market mix
RoW 15.3%
52,993
UK 28.4%
47,418 Russia 4.2%
Wholesale
Sales
FY 10 FY 11 Europe(excl.
Russia),
FY10
North
Jaguar Land Rover 23.0% America
19.4%
INVESTOR RELATIONS 15
Tata Motors Finance
Rs. Crores FY11 FY10 % change
• Total vehicle financing disbursals (TMF) for FY11 were Rs. 7,908 Crs, an increase of 18%
from Rs 6,697 Crs in FY10.
• The book size at the end of March 11 for TMFL and TML (Vehicle Financing) stood at Rs
9,878 Cr and Rs. 247 Cr respectively.
• TMF market-share for FY11 stood at 21.4%. NIM of vehicle financing business (TMF ) for
FY11 was 10.1%.
INVESTOR RELATIONS 17
Tata Daewoo
INVESTOR RELATIONS
HV Axles & HV Transmissions
Rs. Crores FY11 FY10 % Change
• While overall cost pressures increased, EBITDA margins were supported by improved volumes and cost control
initiatives
• Wef 1 April 2011, HV Axles & HV Transmissions to be amalgamated subject to regulatory approvals and
proposed to be renamed as TML Drivelines Limited
INVESTOR RELATIONS 19
Financial
Highlights
Standalone
Tata Motors
Way
Forward
INVESTOR RELATIONS 20
Way Forward – Tata Motors - Commercial vehicles
• Freight rates continue to appear healthy with demand in haulage segments being robust.
• Increase in infrastructure spending could propel demand for MHCV trucks. Services and
agriculture sector along with rural connectivity, proliferation of hub & spoke model and
demand of passenger applications is expected to drive growth in LCV/SCV segment
• In May 2011 the ACE family was expanded to include Magic Iris & Ace Zip.
• Future products in pipeline for FY 12 – Variants from MHCV & Prima range, World LCV
range.
• Commodity prices & concerns on cost continues. Supply constraints been mostly
addressed.
• Current macro economic factors like high inflation, rising interest rates, slower industrial
growth have the potential to adversely impact CV demand
• Competitive intensity expected to increase, but Company well placed with a wide and
compelling product portfolio and customer support
INVESTOR RELATIONS 21
Way Forward – Tata Motors - Passenger vehicles
• Increased focus on rural markets expected to drive volume growth
• Further expand sales and service network in India and enhanced customer care
• Future products in pipeline for FY 12 – Nano variants, Vista refresh, Manza Limited edition,
New Safari, Aria 2WD
• Competitive intensity and increasing costs in the passenger vehicle segment could pose a
risk to operating margins
• While disposable incomes and consumption has risen, higher inflation, interest costs, fuel
price increases have the potential to impact demand
INVESTOR RELATIONS 22
Way Forward - Jaguar Land Rover
• Continue to work on profitable volume growth, managing costs and improving efficiencies to
sustain the growth momentum
• External geopolitical and economic factors including exchange rate, could impact volumes and
profitability
• Jaguar Land Rover has completed a £1 billion equivalent 7 & 10 year bond offering in the
capital markets to refinance existing debt, including repayment of Tata Motors funding and for
general corporate purposes
• Further steps to improve the capital structure through extension of debt profile under way.
INVESTOR RELATIONS 23
Thank You
INVESTOR RELATIONS 24