TATA MOTORS = Q4 FY12 & FY 2012 = VERY GOOD PERFORMANCE = CONS-NPT UP 46% FOR FY 12

TATA MOTORS

FY 2012 vs FY 2011 RESULTS

Consolidated Net Revenue grows by 36% to Rs 165,655 cr in FY 2011-12

Consolidated Profit grows 46% to Rs. 13,517 cr (Rs. 9,274 cr in FY 2010-11)

Consolidated Financial Results 

for the Quarter and Year ended March 31, 2012

Tata Motors has reported consolidated revenues (net of excise) of Rs.50,908 Cr for  Q4 of FY 2012, posting a growth of 44.3% over Rs. 35,287 Cr in Q4 of FY 2011. The Consolidated Profit before Exceptional item and Tax was Rs.4,596 Cr,  a growth of 68.1% over Rs. 2,734 Cr in Q4 FY 2011. The Consolidated Profit before Tax (PBT) for Q4 FY 2012 was Rs.4,424 Cr, compared to Rs. 2,911 Cr for Q4 FY 2011. The Consolidated Profit (after tax and post minority interest and profit in respect of associate companies) for the quarter was Rs.6,234 Cr, as compared to Rs.2,638 Cr in Q4 FY 2011.

The consolidated revenue (net of excise) for FY 2011-12, was Rs. 165,655 Cr posting a growth of 35.6% over Rs. 122,128 Cr in FY 2010-11. The Consolidated Profit before Exceptional item and Tax was Rs 14,366 Cr, a growth of 40.8% over Rs 10,206 Cr in FY 2011. The Consolidated Profit before Tax (PBT) for the year was Rs. 13,534 Cr, compared to Rs. 10,437 Cr for FY 2011. The Consolidated Profit for the period (after tax and post minority interest and profit in respect of associate companies) was Rs.13,517 Cr, as compared to Rs. 9,274 Cr in FY 2011.

Stand-alone Financial Results

for the Quarter and Year ended March 31, 2012

standalone revenues (net of excise) for the Q 4 FY 2012 of Rs. 16,391 Cr represented a growth of 14.4% over Rs. 14,326 Cr in Q4 FY 2011. Growth in volumes, and reduction in marketing costs resulted in an improvement in Operating margins to 9.5% for the Q4 FY 2012 over 8.9% for Q4 FY 2011. The Operating Profit (EBITDA) stood at Rs. 1,561 Cr in the quarter, a growth of 22.1% over Rs. 1,278 Cr in Q4 FY 2011.

The PBT for the quarter is Rs. 652 Cr as compared to Rs. 591 Cr in Q4 FY n2011 and the PAT for the quarter is Rs. 565 Cr as compared to Rs. 573 Cr in Q4 FY 2011.

The standalone revenues (net of excise) for FY 2011-12, at Rs. 54,307 Cr posted a growth of 15.3% over Rs. 47,088 Cr in FY 2010-11. Profit before Tax (PBT) for FY 2011-12 was Rs. 1,341 Cr, compared to Rs. 2,197 Cr for FY 10-11. Profit After Tax for FY 2011-12 was Rs. 1,242 Cr, as compared to Rs.1,812 Cr in FY 10-11.

The Standalone Profit Before Tax and Profit After Tax for FY 2011-12 were impacted by Exceptional items of Rs 585 Cr (Rs. 147 Cr in FY 2010-11) on account of exchange loss (net) including on revaluation of foreign currency borrowings, deposits and loans arising from the depreciation of Indian Rupee (INR) and provision made for certain investments in 100% subsidiary Tata Hispano Motors Carrocera SA, Spain arising from continuous underperformance impacted by challenging market conditions.

Tata Motors' sales (including exports) of commercial and passenger vehicles for FY 2011-12, stood at 926,353 units, representing a growth of 10.7 % as compared to FY 2011.

In the domestic market, the Company's commercial vehicles sales for the Quarter ended March 31, 2012, stood at 155,672 units, an increase of 16.2% over Q4 FY 2011. The commercial vehicles sales during FY 2011-12 increased by 15.7 % to 530,204 units, as compared to FY 2011. The Company's market share in commercial vehicles was 59.4% for FY 2011-12.

Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 18.1% to 112,470 units in domestic market for the Quarter ended March 31, 2012, as compared to Q4 FY 2011. Sales for FY 2011-12 grew by 4.0% to 333,044 units, as compared to FY 2010-11. Focused marketing initiatives and network actions have positively influenced sales. The market share in passenger vehicles stood at 13.1% for FY 2011-12 largely driven by sales in the recent quarters. The market share in Passenger vehicles for Q4 FY12 stood at 14.2%.

Jaguar Land Rover PLC

 (figures as per IFRS)

Jaguar Land Rover Sales for the Q4 FY 2012, grew 48.2% to 98,021 units. Of this, the Jaguar volumes for the period stood at 14,118 units and Land Rover volumes stood at 83,903 units. The recently launched new products continue to receive positive response. The newly launched Range Rover Evoque, clocked approximately 60,217 wholesale units till March 2012. Sales from the China region grew strongly and comprised 19.0% of total volumes for the Quarter ended March 31, 2012 as against 12.8% for the corresponding period last year.

Jaguar Land Rover sales for FY 2011-12, stood at 314,433 units, the highest ever, representing a growth of 29.1% as compared to FY 2010-11 supported by new product actions and strong demand in China and other developing markets. The Jaguar volumes for the period stood at 54,039 units and Land Rover volumes stood at 260,394 units.

Revenues for the Q4 FY 2012, of GBP 4,144 million represented a growth of 51.5% over GBP 2,735 million in Q4 FY 2011. Operating margins for the Q4 2012, stood at 14.6% and an Operating Profit (EBITDA) of GBP 605 million in the quarter, a growth of 61.5% over GBP 375 million in Q4 FY 2011. Continued strong revenue and profit performance was supported by volume growth, market mix, product mix and favourable exchange rates. The PBT for the quarter is GBP 530 million (GBP 299 million in the corresponding quarter last year) and the PAT for the quarter is GBP 696 million (GBP 262 million in the corresponding quarter last year). The PAT includes an amount of GBP 217 million (additional GBP 171 million through Reserves) of previously unrecognised deferred tax assets, due to uncertainty about future recoverability which have now been recognised due to sustained improvement in business performance and certainty of future profitability outlook.

The revenues for FY 2011-12, at GBP 13,512 million represented a growth of 36.9% over GBP 9,871 million in the corresponding period last year. Operating margins for the FY 2011-12, stood at 15.0% and an Operating Profit (EBITDA) of GBP 2,027 million, a growth of 35.0% over GBP 1,502 million in the corresponding period last year. The Profit before Tax (PBT) for FY 2011-12 is GBP 1,507 million as compared to GBP 1,115 million for FY 10-11. The Profit After Tax for FY 2011-12 is GBP 1,481 million as compared to GBP 1,036 million in FY 10-11.

In March 2012, JLR successfully raised bonds of £500 million with a coupon of 8.25% and tenor of 8 years. The full proceeds were retained at JLR for future use in the company's business. This was an opportunistic fund raising which enabled JLR reinforce its market acceptance and demonstrated the confidence of the investors while continuing to support steps taken towards strengthening capital structure and extending the debt maturity profile.

In March 2012, JLR announced that it has signed a joint venture agreement with Chery Automobile Company Ltd to build vehicles for the Chinese market which is currently under the process for regulatory approvals by the Chinese authorities.

In March 2012, JLR approved the consolidation businesses of Jaguar Cars Limited and Land Rover into one legal entity to be named Jaguar Land Rover Limited. The consolidation is expected to become effective later this year.

Tata Daewoo

Tata Daewoo Commercial Vehicles Co. Ltd. registered net revenues of KRW. 767 billion, and recorded a Net profit of KRW 3.6 billion in FY 2011-12.

Tata Motors Finance

Tata Motors Finance Ltd, the Company's captive financing subsidiary, registered net revenues of Rs. 2,018 Cr and reported a Profit After Tax of Rs. 240 Cr in FY 2011-12.

Dividend : Has recommended dividend of Rs 4/- per Ordinary Share of Rs 2/- each and Rs 4.10 per 'A' Ordinary Shares of Rs 2/- each for FY 2011-12 (previous year Rs 20/- per Ordinary Share of Rs 10/- each and Rs 20.50 per 'A' Ordinary Shares of Rs 10/- each).

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