Tata Motors Limited
NSE Symbol TATAMOTORS
Q1 FY 2011 RESULTS
COMPARISON
TATA MOTORS has performed superbly at consolidated level in the first quarter, though the results are not that glamourous at stand alone level.
Net Sales Income is Rs.10352 cr (Stand alone) – up by 63% from Q1 FY2010 (Rs.6350 Cr). The same at consolidated level is Rs.26876 Cr – up by 65% from Q1 FY2010 (Rs.16290 Cr).
Consumption of Raw Materials is Rs.5841 Cr (stand alone) – up by 53.6% from Q1 FY10 (Rs.3801.94 Cr), while the same at consolidated level is Rs.14853 Cr – up by 54.6% from Q1 FY10 (Rs.9610 Cr).
Purchase of Traded Goods has increased by 194.2% to Rs.1965 Cr from Q1 FY10 (Rs.668 Cr) – while the same at consolidated level is up by 27.6% to Rs.2526 Cr – from Q1 FY10 (Rs.1980 Cr).
Total Expenditure on stand alone basis is Rs.9568 Cr , up by 61.7% from q1 FY10 (Rs.5917 Cr) – while the same on consolidated basis is Rs.24212 Cr – up by 44.6% from Q1 FY10 (Rs.16738 Cr).
Profit from Operations on stand alone basis has increased by a huge 74% on stand alone basis to Rs.848 Cr from Q1 FY10(Rs.488 Cr) – while the same has increased by a FANTASTIC 933.2% to Rs.2843.85 Cr from Q1 FY10(Rs.-341.33 Cr).
But, Other Income has fallen by 78.3% to Rs.69.30 Cr from Q1 FY10 (Rs.319.36 Cr) – and the same on consolidated basis has fallen by 89.2% to Rs.34.55 Cr from Q1 FY10(Rs.321.07 Cr).
There is also a good increase in Exceptional Items expenditure by 1091% to Rs.65.98 Cr from Rs.5.54 Cr on stand alone basis – while the SAME on consolidated basis is Rs.41.36 Cr UP from Q1 FY10 (Rs.-333.92 Cr).
Tax expense during the quarter is Rs.141.93 Cr against Rs.34.28 cr only in Q1 FY10 (+314%); while the same on consolidated basis is Rs.296.02 cr against Rs.64.26 cr in Q1 FY10(+360.7%)
Profit before tax is Rs.537.65 Cr against Rs.548.04 Cr in Q1 FY10 (-1.9% only) – while PBT on consolidated basis is a huge 943.2% up at Rs.2275.44 Cr from Q1 FY10 ( Rs.-269.86 Cr).
After considering Tax expense, Net Profit on stand alone basis is Rs.395.72 Cr compared to Rs.513.76 Cr in Q1 FY10 (-23%) – while the consolidated net profit is Rs.1988.73 Cr – up from Q1 FY10 (Rs.-328.78 Cr).
Thus, TATA MOTORS has decidedly turned the corner on consolidated basis and that too in a resounding manner. On stand alone basis, while Net sales has increased handsomely, the same failed to reflect in net profits due to increase in raw materials, higher tax expense etc.
Equity has increased by 11% during the period. After this, on a face value of Rs.10, the Basic EPS is Rs.6.88 against Rs.9.93 in Q1 FY10 (-30.7%). But, the EPS on consolidated Basis is Rs.34.8, a huge increase rom Rs.(-)6.4 in Q1 FY10.
Reflecting the same, the market price has gone up to Rs.966 from the Prev. Close of Rs.919.40.
RESULTS IN FIGURES:
| DETAILS | Jun-10 | Jun-09 | Dif%1 | JUN'10 CS | JUN'09CS | Dif%2 |
| Net Sales | 1035187 | 635020 | 63 | 2687608 | 1628960 | 65 |
| Other Operating Income | 6439 | 5443 | 18.3 | 17949 | 10740 | 67.1 |
| Increase/decrease in SIT & WIP | -45844 | -19202 | 138.7 | -33184 | -33008 | 0.5 |
| Consumption of Raw Materials | 584057 | 380194 | 53.6 | 1485277 | 960993 | 54.6 |
| Purchase of Traded Goods | 196539 | 66813 | 194.2 | 252631 | 197987 | 27.6 |
| Employees Cost | 50980 | 39839 | 28 | 214887 | 204374 | 5.1 |
| Depreciation | 30737 | 22912 | 34.2 | 101154 | 84423 | 19.8 |
| Other Expenditure | 140323 | 101140 | 38.7 | 400407 | 259064 | 54.6 |
| Total Expenditure | 956792 | 591696 | 61.7 | 2421172 | 1673833 | 44.6 |
| Profit from Operations | 84834 | 48767 | 74 | 284385 | -34133 | 933.2 |
| Other Income | 6930 | 31936 | -78.3 | 3455 | 32107 | -89.2 |
| Profit before Interest & EI | 91764 | 80703 | 13.7 | 287840 | -2026 | 14307.3 |
| Interest6 | 31401 | 25345 | 23.9 | 56160 | 58352 | -3.8 |
| Profit after Interest but before EI | 60363 | 55358 | 9 | 231680 | -60378 | 483.7 |
| Exceptional Items7 | 6598 | 554 | 1091 | 4136 | -33392 | 112.4 |
| Profit before tax | 53765 | 54804 | -1.9 | 227544 | -26986 | 943.2 |
| Tax expense | 14193 | 3428 | 314 | 29602 | 6426 | 360.7 |
| Net Profit after tax | 39572 | 51376 | -23 | 197942 | -33412 | 692.4 |
| Net Profit | 39572 | 51376 | -23 | 198873 | -32878 | 704.9 |
| Face Value .Rs | 10 | 10 | 0 | 10 | 10 | 0 |
| Paid Up Equity | 57060 | 51405 | 11 | 57060 | 51405 | 11 |
| Basic EPS A EI | 6.88 | 9.93 | -30.7 | 34.8 | -6.4 | 643.8 |
| Diluted EPS A EI | 6.59 | 9.2 | -28.4 | 32.12 | -6.4 | 601.9 |
| Basic EPS B EI | 6.88 | 9.93 | -30.7 | 34.8 | -6.4 | 643.8 |
| Diluted EPS B EI | 6.59 | 9.2 | -28.4 | 32.12 | -6.4 | 601.9 |
| Public Shareholding (%) | 51.16 | 45.52 | 12.4 | 51.15 | - |
Note : As always – readers are requested to give their views, suggestions, comments and corrections – which will be gratefully received.
ANNOUNCEMENTS
TO THE EXCHANGE
10-08-2010 Tata Motors Limited has informed the Exchange regarding a Press Release dated August 10, 2010 titled "Consolidated Net Revenue grows by 64.2% in Q1 FY 2010-11".
10-08-2010 Tata Motors Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 2687608 lacs for quarter ending on 30-JUN-2010 against Rs. 1628960 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 198873 lacs for the quarter ending on 30-JUN-2010 against Rs. (32878) lacs for the quarter ending on 30-JUN-2009. -
10-08-2010 Tata Motors Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 1035187 lacs for quarter ending on 30-JUN-2010 against Rs. 635020 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 39572 lacs for the quarter ending on 30-JUN-2010 against Rs. 51376 lacs for the quarter ending on 30-JUN-2009.
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