TATA MOTORS LIMITED
FIRST
QUARTER RESULTS
Q1 FY 2013
Consolidated
Financial Results
for the quarter ended June 30, 2012
HIGH LIGHTS
Consolidated Net Revenue grows by 30% to Rs.43,324 crores
Consolidated PBT grows by 36% to Rs 3,183 crores
JLR declares maiden dividend post acquisition, of GBP 150 million in August, 2012
Consolidated PBT grows by 36% to Rs 3,183 crores
JLR declares maiden dividend post acquisition, of GBP 150 million in August, 2012
DETAILS
Tata Motors has reported
consolidated revenues (net of excise)
of Rs.43,324 crores for the quarter ended June 30, 2012, posting a growth of
30.1% over Rs.33,289 crores in Q/E June,2011, on the back of strong growth in
volumes of new products and favorable market mix at Jaguar Land Rover (JLR).
The Consolidated Profit before Exceptional item and Tax
was Rs.3,623 crores, posting a growth of 50.8% over Rs.2,403 crores in Q/E
June,2011.
The Consolidated Profit before Tax (PBT)
for the quarter was Rs.3,183 crores, compared to Rs.2,346 crores in Q/E
June,2011.
The Consolidated Profit (after tax and post minority interest and
profit in respect of associate companies) for the quarter was
Rs.2,245 crores, as compared to Rs.2,000 crores in Q/E June,2011. JLR tax
expense for the quarter ended June 30, 2011, was lower consequent to
utilization of past tax losses.
The Consolidated Profit for the quarter ended
June 30, 2012, was impacted by Exceptional items of Rs.441 crores (loss of
Rs.57 crores in Q/E June,2011) on account of exchange loss (net) including on
revaluation of foreign currency borrowings, deposits and loans arising from the
depreciation of Indian Rupee (INR).
CONSOLIDATED RESULTS TABLE
ITEM
|
Q1FY13
|
QoQ%dif
|
Q4FY12
|
YoY5dif
|
Q1FY12
|
FY12
|
Sales
|
44,176.85
|
-15.34
|
52,178.83
|
29.70
|
34,060.59
|
169,877.61
|
Less ED
|
1,005.72
|
-35.95
|
1,570.19
|
5.59
|
952.47
|
5,023.09
|
NetSales
|
43,171.13
|
-14.70
|
50,608.64
|
30.39
|
33,108.12
|
164,854.52
|
OtherOPTG Income
|
152.48
|
-49.05
|
299.26
|
-15.61
|
180.68
|
799.97
|
Total Income
|
43,323.61
|
-14.90
|
50,907.90
|
30.14
|
33,288.80
|
165,654.49
|
EXPENSES
|
||||||
Cost Of Materials
|
26,797.51
|
-11.30
|
30,211.57
|
31.39
|
20,394.98
|
100,797.44
|
PurchaseOf ProductsForSale
|
2,913.90
|
0.14
|
2,909.69
|
12.36
|
2,593.44
|
11,205.86
|
ChangesIn FG/WIP/SIT
|
-1,962.03
|
-806.07
|
277.88
|
86.29
|
-1,053.20
|
-2,535.72
|
EmployeeBenefits
|
3,789.69
|
4.31
|
3,633.21
|
46.18
|
2,592.45
|
12,298.45
|
Depreciation
|
1,565.87
|
1.98
|
1,535.40
|
36.97
|
1,143.22
|
5,625.38
|
ProductDevlopment
|
479.72
|
10.38
|
434.6
|
112.39
|
225.87
|
1,389.23
|
OtherExpenses
|
8,159.42
|
-9.58
|
9,024.09
|
36.00
|
5,999.50
|
28,453.97
|
AmtCapitalised
|
-2,609.48
|
12.11
|
-2,327.62
|
53.49
|
-1,700.08
|
-8,265.98
|
Total Expenses
|
39,134.60
|
-14.36
|
45,698.82
|
29.60
|
30,196.18
|
148,968.63
|
ProfitFrom Operations
|
4,189.01
|
-19.58
|
5,209.08
|
35.45
|
3,092.62
|
16,685.86
|
otherIncome
|
238.6
|
50.46
|
158.58
|
43.92
|
165.79
|
661.77
|
Finance costs
|
804.39
|
4.18
|
772.09
|
-5.99
|
855.61
|
2,982.22
|
ExceptionalItems
|
||||||
ExchangeLoss
|
440.53
|
-7,228.32
|
-6.18
|
673.00
|
56.99
|
654.11
|
ProfitBefore Tax
|
3,182.69
|
-28.06
|
4,424.32
|
35.68
|
2,345.81
|
13,533.87
|
Tax
|
868.82
|
-147.58
|
-1,826.08
|
146.89
|
351.91
|
-40.04
|
NetProfit
|
2,313.87
|
-62.98
|
6,250.40
|
16.05
|
1,993.90
|
13,573.91
|
Cons.NPT
|
2,244.91
|
-63.99
|
6,234.00
|
12.27
|
1,999.62
|
13,516.50
|
Paid-upEquity(FV.Rs.2)
|
637.98
|
0.51
|
634.75
|
0.51
|
634.75
|
634.75
|
EPS
|
||||||
Ordinary
|
||||||
Basic
|
7.04
|
-64.14
|
19.63
|
11.92
|
6.29
|
42.58
|
Diluted
|
7.04
|
-62.45
|
18.75
|
16.94
|
6.02
|
40.71
|
A'Ordinaryshares
|
||||||
Basic
|
7.14
|
-63.81
|
19.73
|
11.74
|
6.39
|
42.68
|
Diluted
|
7.14
|
-62.12
|
18.85
|
16.67
|
6.12
|
40.81
|
PARTICULARS Of shareholding
|
||||||
PublicShareholding
|
||||||
OrdinaryShares
|
||||||
Percentage
|
48.81%
|
-0.39
|
49.00%
|
6.62
|
45.78%
|
49.00%
|
A'Ordinary Shares
|
||||||
Percentage
|
97.96%
|
1.89
|
96.14%
|
7.84
|
90.84%
|
96.14%
|
Tata
Motors Stand-alone Financial Results
for
the quarter ended June 30, 2012
Tata Motors standalone revenues (net of excise)
were for the quarter ended June 30, 2012 of Rs.10,586 crores as compared to
Rs.11,624 crores in Q/E June,2011. Weak macroeconomic parameters, excise duty
increases and poor availability of freight, resulted in pressure on volumes in
the MHCV segment. Further, competitive pressures on pricing in certain
commercial and passenger vehicle segments and lower volumes, impacted the
operating margins.
Operating margin was 7.3% for the
quarter ended June 30, 2012, as compared to 8.8% IN Q/E June,2011. The
Operating Profit (EBITDA) stood at Rs.774 crores in the quarter ended June 30,
2012, as compared to Rs.1,020 crores in the corresponding period last year.
The PBT for the quarter ended June 30, 2012 is Rs.237
crores as compared to Rs.466 crores in Q/E June,2011.
The PAT for the quarter is Rs.205 crores as compared to
Rs.401 crores in Q/E June,2011. The PBT and PAT for the quarter ended June 30,
2012, were adversely impacted by exchange loss (net) including on revaluation
of foreign currency borrowings, deposits and loans arising from the
depreciation of Indian Rupee (INR), of Rs.161 crores (Gain of Rs.2 crores in Q/E
June,2011).
Tata Motors' sales (including exports) of commercial and
passenger vehicles for the quarter ended June 30, 2012, stood at 190,483
units, representing a decline of 3.6%, as compared to Q/E June,2011.
In the domestic market, the Company's
Commercial vehicles sales for the quarter ended June 30, 2012, stood at 114,710
units, a growth of 1.3% over Q/E June,2011. Growth was driven by small
commercial vehicles and was supported by improved production through our
facilities in Pantnagar and Dharwad. The Company's market share in commercial
vehicles was 56.2% for the quarter ended June 30, 2012.
In the domestic market,
the Company's Passenger vehicles, including Fiat and Jaguar and Land Rover
vehicles distributed in India, stood at 62,619 units for the quarter ended June
30, 2012, a decrease of 9.9% over the corresponding period last year. The
Company continues focus on marketing initiatives and network actions and the
sales & service process. The market share in Passenger vehicles for quarter
ended June 30, 2012, stood at 9.8%.
Jaguar
Land Rover PLC - (figures as per IFRS)
Jaguar Land Rover Sales
for the quarter ended June 30, 2012, grew 34.4% to 83,452 units. Of this, the
Jaguar volumes for the period stood at 11,774 units and Land Rover volumes
stood at 71,678 units. Growth in volumes was driven by sales of the new Range
Rover Evoque and strong demand from
China, which grew 91% year-on-year. Sales from the China region comprised
22.2% of total volumes for the quarter ended June 30, 2012, as against 15.7%
for Q/E June,2011.
Revenues for the quarter
ended June 30, 2012 of GBP 3,638 million, represented a growth of 34.6% over
GBP 2,703 million in Q/E June,2011. Operating margins for the quarter ended
June 30, 2012, stood at 14.5% and an Operating Profit (EBITDA) of GBP 527
million in the quarter, a growth of 45.6% over GBP 362 million in the
corresponding quarter last year. Continued strong revenue and operating profit
performance were supported by demand for new products, improved market mix, and
favourable exchange rate environment. The PBT for the quarter is GBP 333
million (GBP 251 million in the corresponding quarter last year) and the PAT
for the quarter is GBP 236 million (GBP 220 million in the corresponding
quarter last year).
In August 2012, JLR
declared a dividend of GBP 150 million (equivalent to Rs 1,290 crores).
Tata
Daewoo
Tata Daewoo Commercial
Vehicles Co. Ltd. registered net revenues of KRW 217 billion and recorded a Net
profit of KRW 3 billion in the quarter ended June 30, 2012.
Tata
Motors Finance
Tata Motors Finance Ltd,
the Company's captive financing subsidiary, registered net revenue from
operations of Rs.623 crores and reported a Profit After Tax of Rs.73 crores the
quarter ended June 30, 2012.
NEWS OF IMPORTANCE :
NEWS OF IMPORTANCE :
TATA MOTORS has appointed Karl Slym as its managing director.
Slym was with US auto maker General Motors for 17 years and is currently executive vice president and board member of China's SGMW Motors, a joint venture between GM's China unit, SAIC Motor and Liuzhou Wuling Motors. Before that he was President and MD of GM India.
Slym will lead all operations of Tata Motors in India and international markets including South Korea, Thailand, Spain, Indonesia, and South Africa, it said.
However, the company's British luxury Jaguar and Land Rover unit will continue to be managed separately. Ralf Speth is the CEO of JLR.
Slym is expected to take over his responsibilities at Tata Motors from Oct 1.
This appointment appears to be a Very Good selection - and the new incumbent can be expected to lead TATA MOTORS to great Srengths.
* *
* E N D *
* *
No comments:
Post a Comment