Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — Q1 FY2010 Earnings Presentation
19 slides from Tata Motors Passenger Vehicles's earnings presentation, Aug 31, 2009
Slide 1: Press Meet
Press Meet 31st August, 2009 INVESTOR RELATIONS 1 1
Slide 2: Press Meet: Consolidated Financials
Consolidated Financials • Consolidated P&L Highlights • Consolidated Balance Sheet Subsidiary Highlights Press Meet 31st August, 2009 INVESTOR RELATIONS 2 2
Slide 3: Consolidated P&L : Highlights
Consolidated P&L : Highlights Rs Crs Q1FY09 Q1FY10 % change Gross Revenue 15496 16954 9.4% Net Revenue 14490 16397 13.2% EBITDA 1697 596 (64.9)% EBITDA Margin 11.7% 3.6% (810) bps Other Income 251 321 28.2% Net Interest 324 584 79.9% Cash Profit 1624 333 (79.5)% Dep. & Amortisation 359 844 135% Prod
Slide 4: Consolidated vs. Standalone: Q1 FY10 P&L Highlights
Consolidated vs. Standalone: Q1 FY10 P&L Highlights Rs Crs Consolidated Standalone Gross Revenue 16954 6931 Net Revenue 16397 6405 EBITDA 596 728 Cash Profit 333 794 PBT (270) 548 Net Profit (329) 514 INVESTOR RELATIONS 4 4
Slide 5: Consolidated Borrowing Position
Consolidated Borrowing Position Rs Crs 7600 Vehicle Finance Portfolio 4350 Cash and Bank 33850 21900 Net Automotive Debt Target to reduce debt – equity ratio through As at June 30, 2009 • Divestments • Capital Raising • Internal Accruals INVESTOR RELATIONS 5 5
Slide 6: Press Meet: Subsidiary Highlights
Consolidated Financials • Jaguar Land Rover Tata Daewoo • Telcon Tata Technologies • Tata Motor Finance HVAL / HVTL Subsidiary Highlights Press Meet 31st August, 2009 INVESTOR RELATIONS 6 6
Slide 7: Jaguar LandRover Executive summary
Jaguar LandRover Executive summary Market conditions continue to have an adverse impact on volumes. Year on Year retail volume down 35% versus the comparable period for the prior year, The company also took steps to adjust inventory levels and bring demand and supply into balance with the external e
Slide 8: Recent Events
Recent Events Despite the economic climate Jaguar Land Rover has successfully launched product upgrades over the past three months including: April 2009 comprehensive upgrades to the Range Rover, Range Rover Sport and Discovery 4 (LR4) July 2009 new Jaguar XJ revealed to media acclaim with customer
Slide 9: Jaguar Land Rover Volume (Total World)
Jaguar Land Rover Volume ( Total World ) Retail efforts aid to clear channel inventory Retail Volumes Wholesale Volumes Units ‘000s 0.6% 46.9 47.2 10% 35.9 32.6 34.6 33.1 24.9 24.3 11.6 12.3 14.1 7.7 Jan 09-Mar 09 Apr 09-Jun 09 Jan 09-Mar 09 Apr09-Jun09 Jaguar Land Rover INVESTOR RELATIONS 9 9
Slide 10: Retail volumes Apr'09 – Jun'09 vs. Jan'09 – Mar'09
Retail volumes North America UK Apr’09 – Jun’09 (23)% 10.6% 14.0 vs. Jan’09 – Mar’09 10.4 9.4 10.7 Units ‘000s Jan 09-Mar 09 Apr 09- Jun 09 Jan 09-Mar 09 Apr 09 - Jun 09 LR 6.5 6.7 LR 9.4 6.2 Jaguar 2.9 3.7 Jaguar 4.6 4.5 Europe (excl Russia) China Russia 57% 3.3 12.5% 12.6 (38)% 2.1 11.2 3.4 2.1 Ja
Slide 11: Income statement for the period Apr'09 – Jun'09
Income statement for the period Apr’09 – Jun’09 Apr-June'09 (£ mils) INCOME Sale of products and other income from operations 1125 EXPENDITURE Raw materials and components, purchase of products for sale net of change in stock 814 Payments and provision for employees 176 Manufacturing costs and other
Slide 12: Funding arrangements
Funding arrangements In the period to June 2009, cash flow from financing activities was £150 million, which comprised £50 mn of financing provided to Jaguar Land Rover by the parent company, Additional borrowings of £100 mn were also taken from other sources. Since March 2009 Jaguar Land Rover have
Slide 13: Tata Daewoo Commercial Vehicles
Tata Daewoo Commercial Vehicles Total Volume Sales MHCV Market Share 2,286 28.0% 1483 25.0% 1515 Domestic 829 618 771 Export Q4FY09 Q1FY10 Q4FY09 Q1FY10 Marginal pick up in the economic activities drive volumes to grow 58% from the lows of Q4FY09. On a y-o-y basis decline is contained at 25%. TDCV’s
Slide 14: Construction Equipment Business – Telcon
Construction Equipment Business – Telcon Total Volume Sales 737 649 235 147 45 62 Excavator Wheel Loader Back hoe Loader Q4 FY09 Q1FY10 Large excavators & Cranes witness growth while concern remains on Midi range Increase in Infrastructure spend to drive growth in Indian business while improvement o
Slide 15: Engineering Design Services : TATA Technologies
Engineering Design Services : TATA Technologies Revenue Distribution* Customer Analysis APAC, 34% Revenue % Q1FY09 Q1FY10 Top 1 customer 17.62% 21.73% Top 5 customers 36.94% 46.12% Europe, 31% North Top 10 customers 50.32% 54.18% * Dollar revenue America, 36% New business growth continues to remain
Slide 16: Vehicle Financing : Tata Motor Finance
Vehicle Financing : Tata Motor Finance TMF Disbursement ( Rs. Cr ) 1,995 1,382 Q4FY09 Q1FY10 Combined disbursals ( TMF ) for Q1FY10 were Rs. 1,382 Cr a decline of 31% from Rs 1995 Cr in Q4FY09 Disbursal decline in line with reduction in sales of Tata Motors and also due to entry of newer NBFC and ba
Slide 17: Auto Components : HVAL and HVTL
Auto Components : HVAL and HVTL Q1FY10 performance impacted by lower volume on the back of continuing decline in MHCV sales. Significant reduction in variable costs achieved to combat slowdown. Recovery in the domestic Commercial Vehicles market to drive future growth INVESTOR RELATIONS 17
Slide 18: Subsidiary Financials
Subsidiary Financials Revenue EBITDA PAT Rs Cr Q1FY09 Q1FY10 Q1FY09 Q1FY10 Q1FY09 Q1FY10 810 667 76 40 46 18 % change -17.7% - 47.4% -60.9% 578 390 108 (1.1) 67.9 (.43) * % change -32.5% -101.0% -107.1% 277 246 12 14 9.9 4.8 % change -11.2% 16.7% -51.5% Note: Revenue and EBITDA figures exclude other
Slide 19: Subsidiary Financials
Subsidiary Financials Revenue EBITDA PAT Rs Cr Q1FY09 Q1FY10 Q1FY09 Q1FY10 Q1FY09 Q1FY10 185 214 66 35 -9 -37 % change 15.7% -47.0% -330.2% 48 39 24 20 11 7 % change -18.8% -16.7% -36.4% 52 44 29 25 13 10 % change -15.4% -13.8% -23.0% Note: Revenue and EBITDA figures exclude other income INVESTOR RE