Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — Q2 FY2005 Earnings Presentation
18 slides from Tata Motors Passenger Vehicles's earnings presentation, Oct 29, 2004
Slide 1: Tata Motors (NYSE: TTM) 2Q FY05 Result Review
Tata Motors (NYSE :TTM) 2Q FY05 Result Review October 29 , 2004
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: Presentation Outline
Presentation Outline • 2Q FY05 Results • Operational Highlights • Subsidiary Performance 2
Slide 4: 2Q FY05 Financial Performance (Unconsolidated)
2Q FY05 Financial Performance (Unconsolidated) 2Q FY04 2Q FY05 (Rs cr) (Rs cr) Revenue (Net of excise) 3,177.7 4,147.1 EBITDA 438.9 520.0 ¾ Volume growth of 22% to Other Income 22.8 70.6 Net Interest 26.0 39.8 95,576 units. Cash Profit 435.7 550.8 ¾ Net Revenues up 31 % Product Dev. Expenses 9.9 15.
Slide 5: 2Q FY05 Performance
2Q FY05 Performance • Input cost pressure remains an area of high concern • Balance sheet size of Rs 7,537 cr with surplus cash / investments of around Rs 3,503 cr • 88.6% of the outstanding warrants converted till Sep. 30, 2004 at a premium of Rs 110 per share. The Company’s paid-up capital increas
Slide 6: 1H FY05 Financial Performance (Unconsolidated)
1H FY05 Financial Performance (Unconsolidated) 1H FY04 1H FY05 (Rs cr) (Rs cr) Revenue (Net of excise) 5,680.2 7,721.1 EBITDA 770.4 949.4 Other Income 33.3 111.8 ¾Volume growth of 30 % to Net Interest 79.8 81.4 1,80,494 units. Cash Profit 723.9 979.8 ¾Net Revenues up 36% Product Dev. Expenses 21.3 4
Slide 7: Presentation Outline
Presentation Outline • 2Q FY05 results • Operational Highlights • Subsidiary Performance 6
Slide 8: Tata Motors – Sales performance
Tata Motors – Sales performance Total Sales Volumes Units 120,000 95,576 100,000 78,125 80,000 46,663 60,000 37,896 40,000 40,229 48,913 20,000 0 2Q FY04 2Q FY05 CVs PVs ¾ Volume growth of 22% Domestic volumes up 20% Exports volumes up 65% 7
Slide 9: Commercial Vehicles
Commercial Vehicles CV Sales Volumes ¾ Total CV Volume growth of 22% Units 48,913 50,000 Domestic volumes up 18% YoY in 40,229 4,837 2Q FY05 2,803 M/HCVs +22%, LCVs +10% Exports up by 73%, driven mainly by 25,000 44,076 Pick-ups 37,426 ¾ CV market share up to 59.8% Increase in market share acr
Slide 10: Commercial Vehicles - TDWCV
Commercial Vehicles - TDWCV Sales Volumes Korean HCV Market Share Units 40 (%) 1,198 31.4 1,200 28.5 902 30 26.0 800 20 400 10 0 0 July - Sept 03 July - Sept 04 Jan - March 04 April-June 04 July - Sept 04 ¾ Steady improvement in market share ¾ Technology leadership with the launch of NOVUS 9
Slide 11: Passenger Vehicles
Passenger Vehicles PV Sales Volumes ¾ Total PV Volume growth of 23%, highest ever quarterly sales Units 46,663 Domestic volumes +23% YoY 50,000 37,896 1,496 Exports volumes +44% YoY ¾ PV domestic market share of 17.2% 1,041 against 16.7% last year 25,000 45,167 Second-largest player in PVs 36,
Slide 12: Working Capital Management
Working Capital Management Inventory Trade Receivables Days of sale Days of sale 40 36 33 20 16 9 20 10 0 0 Sep. 30, 2003 Sep. 30, 2004 Sep. 30, 2003 Sep. 30, 2004 Focus on Reducing Working Capital Requirements 11
Slide 13: Negative Net Debt Position
Negative Net Debt Position Net Debt Rs cr 3,500 2,863 3,000 2,500 2,000 1,500 1,000 500 0 -500 -640 -1,000 Sep. 30, 2003 Sep. 30, 2004 Net Debt = Gross Debt – Surplus Cash 12
Slide 14: Going forward….
Going forward…. ¾ Continuing input cost pressure ¾ Inflation, fuel prices and interest rates need to watched closely. ¾ Introduction of new emission norms to result in increased cost and shift in demand patterns in the last quarter of this fiscal. 13
Slide 15: Presentation Outline
Presentation Outline • 2Q FY05 Results • Operational Highlights • Subsidiary Performance 14
Slide 16: Performance of Key Subsidiaries
Performance of Key Subsidiaries ¾ The combined turnover of the key six subsidiaries stood at Rs 592.2 cr as compared to Rs 238.5 cr in 2Q FY04 due to inclusion of TDWCV and improvement in the performance of other subsidiaries. ¾ The key subsidiaries posted a combined PBT of Rs 48.4 cr as against Rs
Slide 17: Performance of Key Subsidiaries
Performance of Key Subsidiaries Subsidiary Revenues (Rs cr) Change PBT (Rs cr) Change 2Q FY05 2Q FY04 (%) 2Q FY05 2Q FY04 (%) Tata Daewoo CV Ltd., Korea 299.8 6.7 (TDWCV) Telco Construction Equipment Co. 164.9 131.7 25% 11.7 7.2 64% Ltd (Telcon) Tata Technologies Ltd (TTL) 48.4 34.9 39% 6.8 2.0 234%
Slide 18: Thank You
Thank You www.tatamotors.com