Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — Q2 FY10 Earnings Presentation
17 slides from Tata Motors Passenger Vehicles's earnings presentation, Oct 26, 2009
Slide 1: Q2 FY10 Results Review
Q2 FY10 Results Review 26th October, 2009 INVESTOR RELATIONS
Slide 2: Forward-looking statements disclaimer
Statements in this presentation describing the Company’s objectives, projections, estimates, expectations may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors th
Slide 3: Agenda
Agenda Business Highlights • Commercial Vehicles • Passenger Vehicles Financial Highlights • Vehicle Financing Outlook INVESTOR RELATIONS 2
Slide 4: Recovery visible across automotive sectors
Recovery visible across automotive sectors Industry Q3FY09 Q4FY09 Q1FY10 Q2FY10 27% 20% 23% 2% 3% -1% -3% -15% -22% -36% Tata Motors -52% -61% Q3FY09 Q4FY09 Q1FY10 Q2FY10 33% 27% 13% 5% MHCV -4% -5% LCV -10% -18% -15% PVs -27% -49% -59% INVESTOR RELATIONS 3
Slide 5: Domestic volumes grew 23%, driven by economic revival and improving sentiment
Domestic volumes grew 23%, driven by economic revival and improving sentiment 17.4% Tata Motors : 23% 158,575 135,039 20.8% 89,655 74,237 27.3% 60,917 47,870 (38.1)% 12,930 Q2 FY09 8,003 Q2 FY10 Commercial Passenger Exports Total Sales Vehicles *Vehicles Weak global economic conditions continue to i
Slide 6: 21% growth in CV volumes; consolidation of leadership position
21% growth in CV volumes; Consolidation of leadership position through strong market-share growth across major segments Market share: 62.0% 65.5% Driven by revival in industrial activities and easier finance availability, TML CV segment grew by 20.8% 20.8% -MHCV volumes increased by 5.3%, turned 89,
Slide 7: 13% growth in passenger vehicles driven by Indica Vista and Nano
13% growth in passenger vehicles driven by Indica Vista and Nano Market share: 12.7% 11.6% PV industry volumes increased by 23%, 13.0% driven primarily by product interventions by 52,723 46,836 7,631 incumbents, finance availability, pre-festive (11.5 )% season buying UV/SUV/MPV 9,318 (16.2)% 9,574
Slide 8: Captive Vehicle Financing continues to be critical support to core business
Captive Vehicle Financing continues to be critical support to core business Disbursals in Q2 FY10 was Rs 1,550 Cr Vehicle Financing down 21.9% from Rs 1,984 cr in Q2 No. of vehicles 40 (5.1)% FY09. Thousands 36,065 34,211 35 Market Share of TATA Motors vehicles 30 Passenger Veh 13,322 11,233 stood a
Slide 9: Agenda
Agenda Business Highlights • Stand Alone P&L Financial Highlights • Balance Sheet Highlights Outlook INVESTOR RELATIONS 8
Slide 10: Operating margins expand 580 bps to 13.4% and PAT doubles
Operating margins expand 580 bps to 13.4% and PAT doubles Rs Crores Q2 FY09 Q2 FY10 % change Net Revenue 7,079 7,979 12.7% PAT 347 729 110.0% PBT 358 907 153.4% Less : Other Income 429 421 (1.8)% Add : Depreciation, PDE and net interest 362 564 55.8% Notional Exchange loss (net) 245 15 (93.9)% EBITD
Slide 11: Generated cash profit of 2,000 Cr in H1FY10
Generated cash profit of 2,000 Cr in H1FY10 Rs Crores H1 FY09 H1 FY10 % change Net Revenue 14,007 14,384 2.7% PAT 673 1,243 84.7% PBT 703 1,455 106.9% Less : Other Income 745 740 (0.6)% Add : Depreciation, PDE and net interest 663 1,058 59.7% Notional Exchange loss (net) 407 21 (94.9)% EBITDA 1,028
Slide 12: Working Capital
Working Capital Inventory Receivables Days of sale Days of sale 21 18 32 33 14 28 Mar'09 June'09 Sep'09 Mar'09 June'09 Sep'09 (Receivables excludes Vehicle Financing) INVESTOR RELATIONS 11
Slide 13: Successfully paid down USD 3 Bn loan in a difficult market condition
Successfully paid down USD 3 Bn loan in a difficult market condition The original bridge loan of USD 3 Bn availed to finance the acquisition of Jaguar Land Rover has been successfully paid down in full in a highly tumultuous financial market situation through the following fund raising activities :
Slide 14: Balance Sheet Size
Balance Sheet Size Rs crs On 9th October 2009, Tata Motors Limited issued 29,904,306 new equity shares in the form of Global 34,500 31,782 Depositary Shares aggregating US$375 million. 32,000 29,223 30,252 29,500 27,394 3,750, 4% coupon convertible notes due 2014 at a price of $100,000 per Note, agg
Slide 15: Agenda
Agenda Business Highlights Financial • Short term business outlook Highlights Outlook INVESTOR RELATIONS 14
Slide 16: Outlook
Outlook • Strong order book of JNNURM, 5,000 buses expected to be delivered from Oct to Mar’10. • Expect continued strong revival of MHCV and LCV performance. • 4 Prima (World Truck) Tipper and Tractor models to be launched in H2 in India • Launched ‘Manza’ on 14th Oct 2009 to an encouraging respons
Slide 17: Thank You
Thank You INVESTOR RELATIONS