TATA MOTORS
AN UPDATE
DT 1ST SEP,2010
TATA MOTORS had done well in the first quarter of FY 2011. By all indications, it is doing well in the second quarter also. Some of the latest news on TATA Motors are summarized below :
SEPT.1 :
Total sales (including exports) of commercial and passenger vehicles in August 2010 were 65,938 vehicles, a growth of 32% over 49,810 vehicles sold in August 2009.
Domestic sales of Tata commercial and passenger vehicles for August 2010 were 60,781 nos., a 29% growth over 47,126 nos. sold in August last year.
Cumulative sales (including exports) for the company for the fiscal are 315,445 nos., a growth of 43% over 220,978 nos. sold last year.
Commercial Vehicles
Sales of commercial vehicles in August 2010 in the domestic market were 35,585 nos., a 20% growth compared to 29,762 vehicles sold in August last year. LCV sales were 20,734 nos., a growth of 11% over August last year. M&HCV sales stood at 14,851 nos., a growth of 34% over August last year.
Cumulative sales of commercial vehicles in domestic market for the fiscal are 168,508 nos., a growth of 29% over last year. Cumulative LCV sales are 96,245 nos., a growth of 18%, while M&HCV sales stood at 72,263 nos., a growth of 49%.
Passenger Vehicles
The passenger vehicles business reported a total sale and distribution offtake of 27,008 nos. (25,196 Tata + 1,812 Fiat) in the domestic market in August 2010, a 34% increase compared to 20,146 nos. (17,364 Tata + 2,782 Fiat) in August last year.
Sales of Tata passenger vehicles are 25,196 nos., a growth of 45% over August 2009.
Sales of the Tata Nano were 8103 nos., higher by 224% over August last year.
The Indica range sales were 7,531 nos., lower by 22% over August last year.
The Indigo range recorded sales of 6,678 nos., a growth of 151% over August last year. The Sumo/Safari range accounted for sales of 2,884 nos., higher by 11% over August last year.
Jaguar Land Rover sales continued their upward trend.
Cumulative sales and distribution offtake of passenger vehicles in the domestic market for the fiscal are 135,509 nos. (125,296 Tata + 10,213 Fiat), against 90,718 nos. (80,392 Tata + 10,326 Fiat) last year, a growth of 49%.
Cumulative sales of Tata passenger vehicles were 125,296 nos., a 56% increase compared to 80,392 nos., last year. Cumulative sales of the Nano are 31,882 nos., a 541% increase. Cumulative sales of the Indica range are 42,644 nos., lower by 9%. Cumulative sales of the Indigo family are 34,988 nos., higher by 132%. Cumulative sales of the Sumo/Safari range are 15,782 nos., higher by 18%.
Exports
The company's sales from exports at 5,157 vehicles in August 2010 registered a growth of 92% compared to 2,684 vehicles in August last year. The cumulative sales from exports for the fiscal at 21,641 nos. are higher by 109% over 10,360 nos., last year.
Sept.1 :
Tata Motors plans to invest 3,000 crore ($641 million) every year for the next three years, Chairman Ratan Tata said on Wednesday.
27th, August :
Tata Motors could raise up to $1 billion through a mix of instruments, its CEO Carl-Peter Forster said on Thursday.
The company, which had net debt of about $4 billion on its books at the end of March 2010, said in June it would raise about Rs 4,700 crore ($1.02 billion) through shares, bonds, debentures and other equity-linked instruments to cut debt and grow its business.
23rd August “:INTRVIEW :Excerpts :Carl-Peter Foster, MD & CEO, Tata Motors
· We have the issue on engines (supply) for JLR. Suppliers in Europe cut back their capacity rapidly to adjust to the demand of original equipment makers). A year ago, we had no idea when we would come out of the crisis, especially in Europe. The cutback was an amazing pace. But now that demand has picked up, they are in short supply. The downturn was faster but the upswing is even faster. We are working our partner, Ford, on how we can de-bottleneck. I have 15,000-20,000 customers who want a product but are not getting it. I have angry letters coming to me regarding this.
· If you look at the balance sheet and the cost structure, with a very simple calculation you will find that Tata Motors is working about half of where General Motors is. The percentage of fixed cost to total cost is significantly lower than at any of the major international auto companies. It is a company with a very different cost structure.
20TH,august :
· Until recently, the JV, Fiat India Automobile (FIAPL), was languishing with heavy losses. Between January 2008 and March 2010, FIAPL posted a total loss of '970 crore, as its vehicle and engine making plant at Ranjangaon, near Pune, remained largely underutilised.
· “We are looking at expanding the reach of the Fiat brand, strengthening sales and marketing teams, while having a ‘one team’ approach. We can look at expanding the Fiat product range. Fiat has a very good range, some of which could be very successful in the Indian market. Don’t get it wrong that the JV is not doing good; we see a lot of opportunities and it is up to us on how to leverage them,” said Forster.
· Fiat recently launched a hatchback, Uno, in Brazil and auto experts believe it may find its way into India too. Also, a new small car, being developed by Fiat, would be launched in India by the end of next year. Tata Motors may also tap into the technology space of Fiat.
· While it took Tata Motors about a year to make JLR profitable, FIAPL posted its first ever quarterly net profit only recently. FIAPL posted a net profit of '22 crore for the quarter ended June, compared to a loss of 166 crore in the year-ago period, according to company document.
19th,AUGUST:
· Tata Motors may explore the possibility of raising funds through issue of shares, bonds, debenture, warrants and other equity-linked instruments in domestic and international markets in one or more tranches. The company recently received shareholders’ approval to raise '4,700 crore. The company has to repay debt of '8,000 crore this year, besides meeting capital expenditure of '2,500-3,000 crore on a standalone level.
· As the company’s shares are carrying better valuations, compared to last year, the street is expecting Tata Motors to launch DVR shares (‘A’ Ordinary shares). Six months ago, shares in Tata Motors were trading at around '780 levels. Since then, it has rising with continued growth in the company’s performance. Rating agencies and brokerages have also upgraded the company’s outlook and recommended a buy on the stock. Shares of Tata Motors today closed 4.19 per cent higher at '1,047 on the Bombay Stock Exchange (BSE).
15TH AUGUST:
Tata Motors Group global sales grow by 36% at 90,646 vehicles in July 2010
The Tata Motors Group global sales, comprising of Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles along with distributed brands in India, and Jaguar and Land Rover, were 90,646 nos. in July 2010, a growth of 36% over July 2009. Cumulative sales for the fiscal (April 2010 – July 2010) are 339,824, higher by 46% compared to the corresponding period in 2009-10.
Sales of all commercial vehicles were 40,576 nos. in July 2010, a growth of 30%. Cumulative sales for the fiscal are 151,730 nos., a growth of 38%.
Sales of all passenger vehicles were 50,070 nos. in July 2010, a growth of 42%. Cumulative sales for the fiscal are 188,094 nos., a growth of 53%.
Tata passenger vehicle sales, including those distributed, were 30,684 nos. for the month, a growth of 50%. Cumulative sales for the fiscal are 111,555 nos., a growth of 55%.
Jaguar Land Rover global sales in July 2010 were 19,386 vehicles, higher by 30%. Jaguar sales for the month were 5,676, higher by 26%, while Land Rover sales were 13,710, higher by 31%. Cumulative sales of Jaguar Land Rover for the fiscal are 76,539 nos., higher by 50%. Cumulative sales of Jaguar are 21,131 nos., higher by 31%, while cumulative sales of Land Rover are 55,408 nos., higher by 59%.
13TH AUGUST:
Global ratings agency Standard & Poor's today raised Tata Motors' credit ratings to positive citing improved performance by auto maker's premium brands Jaguar Land Rover.
The upgrade to 'B+' from 'B' comes few days after Tata Motors clocked a consolidated net profit of Rs 1,988.73 crore for the quarter ended June 30 on the back of strong sales in the domestic market and good show by Jaguar and Land Rover.
S&P also raised the issue rating on the auto giant's senior unsecured notes to 'B+' from 'B'.
The 'B' ratings refer to the entity being "more vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments" while a plus (+) or minus (-) show relative standing within the major rating categories.
13TH AUGUST :
Tata Motors, today said it plans to expand its commercial vehicles business globally and is contemplating a new plant for small trucks in India.
"We are a dominant player in the Indian market and we now want to be a big player at the international level," Tata Group Managing Director and CEO, Carl-Peter Forster, told reporters here.
“Our aim is to tap the global market in the commercial vehicle segment,” he said, adding the company might set up a plant in India to manufacture small trucks. Eyeing a huge opportunity globally in the trucks business, Tata Motors is exploring synergies with its joint venture partner, the Italian auto giant, Fiat, Forster said.
“Tata has all the ingredients to be a big player globally," he said. Apart from trucks, the company plans to launch more Fiat cars in India in the coming days. "We are looking at strengthening the Fiat brand in the country. We plan to expand the Fiat product range and marketing team in the coming days," he said. Tata Motors and Fiat have an equal joint venture company in the country called Fiat India Automobiles Ltd which produces Grande Punto, Linea and Palio Stile cars at its factory at Ranjangaon near Pune.
10th August, 2010
The Tata Motors Group today reported consolidated revenues (net of excise) of Rs. 27,055.57 crores, posting a growth of 64.2% over Rs. 16,472.97 crores in the corresponding quarter of the previous year, with strong volume growth globally in all major markets. The Consolidated Profit before Tax (PBT) (post minority interest and profit in respect of Associate companies) for the quarter was Rs. 2,275.44 crores, compared to a Loss before Tax of Rs. 269.86 crores for the corresponding quarter last year. The Consolidated Profit after Tax (PAT) for the quarter was Rs. 1,988.73 crores, a significant turnaround from a loss of Rs. 328.78 crores in the corresponding quarter last year.
Tata Motors has reported a Basic Earnings Per Share (EPS) of Rs. 34.80 in Q1 FY2010-11 for its consolidated operations as against a Loss Per Share of Rs. 6.40 in Q1 FY2009-10.
Tata Motors Stand-Alone Financial Results for the Quarter ended June 30, 2010
Tata Motors gross revenue for the quarter ended June 30, 2010, was Rs. 11,296.80 crores (quarter ended June 30, 2009: Rs. 6,930.43).
Revenues (net of excise) of Rs. 10,416.26 crores, represented a growth of 62.7% over Rs. 6,404.02 crores in the corresponding quarter last year. Volume growth, cost efficiencies and better realisations have led to a double digit operating margin of 11.28%, resulting in an Operating Profit (EBITDA) of Rs. 1,174.67 crores in the quarter (quarter ended June 30, 2009: Rs. 728.00 crores). The PBT for the quarter is Rs. 537.65 crores (quarter ended June 30, 2009: Rs. 548.04 crores, which included profit of Rs. 318.94 crores on sale of investments, which were not liable to tax) The PAT for the quarter is Rs. 395.72 crores (quarter ended June 30, 2009: Rs. 513.76 crores).
In the domestic market, the company's commercial vehicles sales increased by 38.7% to 100,186 units. The growth was mainly supported by medium and heavy commercial vehicles which grew by 62.4% year-on-year. The company's market share in commercial vehicles was 61%.
Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 56.0% in the domestic market to 77,858 units driven by continued overwhelming response to the Tata Indigo Manza, the Tata Indica Vista and the Tata Nano.
The market share for Tata passenger vehicles for the period stood at 13.3% as compared to 11.2% in Q1 FY2009-10. Driven by the Manza, the company's market share in the entry-midsize segment has increased substantially to 39.5% compared to 25.2% in Q1 FY2009-10.
COMMENTS : Judging from all the positive News above – we can expect sterling performance from TATA MOTORS in the Q/e Sep,2010.
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