Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — Non-Deal Roadshow (September 2009)
28 slides from Tata Motors Passenger Vehicles's roadshow presentation, September 2009
Slide 1: Tata Motors Limited Investor Presentation
Tata Motors Limited Investor Presentation September 2009
Slide 2: Business Highlights
Business Highlights • FY 2009 Financial • Q1 FY 2010 Highlights Subsidiaries Way Forward 2
Slide 3: TML recorded market share gains despite a challenging environment in FY09
TML recorded market share gains, despite a Quick Actions by the challenging environment in FY09…. company helped to tide through the slowdown (13.5)% FY2008 FY2009 585,649 • Tight Control on Inventory 506,421 • Block closures at Plants to align (15.2)% production with demand 312,935 • Cost Reduction
Slide 4: Domestic volumes showing initial signs of stability in Q1 FY10
Domestic volumes are showing initial signs of stability in Q1 FY10… (4.3)% Industry - 9.2% Tata Motors - 1.4% 133,079 127,340 1.1% 71,409 72,216 (4.9)% 52,450 49,904 (43.4)% 9,220 5,220 Q1 FY09 Commercial Vehicles Passenger* Exports Total Sales Vehicles Q1 FY10 Note*: Includes sale of FIAT vehicles
Slide 5: Continuing market share gains in CVs and PVs
…with continuing market share gains in CVs … as Vista drives market share in PVs in the backdrop of increased competition [ 61.0% ] [ 67.4% ] [ 12.9% ] [ 11.3% ] 1.1% 51,091 71,409 72,216 45,846 12,365 [ 24.1% ] 8,065 [ 18.7% ] 35,652 [ 66.7% ] [ 62.8% ] 45,583 13,053 8,923 [ 25.2% ] [ 38.6% ] [ 59.
Slide 6: Significant Developments to date
Significant Developments to date • Completed rights issue of Rs. 4200 crore in November 2008, 1 repaying ~US$1 billion of the JLR acquisition debt • Launch of several new models and variants – Ace CNG (CV), 2 Marcopolo buses, Indica Vista (PV), Fiat Linea rollout • Highly successful Nano launch. Ini
Slide 7: New Product Launches
New Product Launches Tata Nano Update: Deliveries from July’09 World Truck – A global range, unveiled in India • Tata Nano was launched in Mumbai on March 23rd to • Gross capacities ranging from 10T to 75T unprecedented media attention • Solutions for varied applications such as Tractor-trailers, mu
Slide 8: Short Term Business Outlook
Short Term Business Outlook • Current Business conditions remain uncertain; however expect Indian economic growth to revive earlier than world economy • Commercial vehicles sales to be driven by New products : World Truck, Ace variants Bus demand from JNNURM scheme Improved penetration of LCV Passen
Slide 9: Financial Highlights
Business Highlights • FY 2009 Financial • Q1 FY 2010 Highlights • Debt position and profile Subsidiaries Way Forward 9
Slide 10: Consolidated P&L: Highlights
Consolidated P&L : Highlights Generated Consolidated Cash profit at Rs.1065 Crs despite impact of severe economic slowdown Rs Crs FY08 FY09 % change Gross Revenue 40341 74151 83.8% Net Revenue 35660 70939 98.9% EBITDA 4249 2197 -48.3% EBITDA Margin 11.9% 3.1% (880) bps Other Income 267 799 199.3% Ne
Slide 11: Consolidated vs. Standalone: FY09 P&L Highlights
Consolidated vs. Standalone: FY09 P&L Highlights Rs Crs Consolidated Standalone Gross Revenue 74151 28599 Net Revenue 70939 25661 EBITDA 2197 1752 Cash Profit 1065 2004 PBT (2129) 1014 Net Profit (2505)* 1001 * Net profit is after share of minority interest and profit/(loss) in respect of investment
Slide 12: 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 13: 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 13
Slide 14: Consolidated Borrowing Position
Consolidated Borrowing Position Rs Crs Target to reduce debt – equity ratio through 7600 Vehicle Finance Portfolio • Divestments 33850 4350 Cash and Bank • Capital Raising • Internal Accruals 21900 Net Automotive Debt As at June 30, 2009 Post Refinancing Long Term Debt Repayment Profile (Proforma )
Slide 15: Subsidiaries: JLR Overview
Business Highlights • JLR Overview Financial • Other Key Subsidiaries Highlights Subsidiaries Way Forward 15
Slide 16: Jaguar LandRover Executive summary
Jaguar LandRover Executive summary • Deteriorating market conditions since the acquisition had an adverse impact on volumes In response Jaguar Land Rover have focused on aligning production with demand, reducing costs and working capital requirements where possible For the ten month period ending Ma
Slide 17: Jaguar Land Rover Worldwide Volumes (Retail)
Jaguar Land Rover Worldwide Volumes (Retail) Quarterly Volumes (‘000s) 73 73 72 73 73 68 59 48 47 47 51 58 59 59 58 52 42 35 35 33 17 15 15 13 15 21 17 12 12 14 Qtr Ended Mar 07 Jun 07 Sep 07 Dec 07 Mar 08 Jun 08 Sep 08 Dec 08 Mar 09 Jun 09 Jaguar Land Rover Annual Volumes (‘000s) 305 286 286 281 27
Slide 18: Income statement
Income statement Jun'08 to Apr'09 to Mar'09 Jun'09 (£ mils) (£ mils) INCOME Sale of products and other income from operations 4,974 1,125 EXPENDITURE Purchase of products for sale and raw materials and components 3,296 814 Payments and provision for employees 569 176 Manufacturing costs and other ex
Slide 19: Cash Conservation at JLR
Cash Conservation at JLR • Alignment of production with demand: Single shifts and down time at all three UK assembly plants • Actions to reduce working capital (June 2008 – March 2009): Supplier payment terms extended from 45 to 60 days in line with industry standard Receivables reduced by £133 mill
Slide 20: Pensions revaluation and Funding arrangements
Pensions revaluation • The initial results of the revaluation as at April 2009 are expected to be available in September 2009 post which a revised contribution pattern would be discussed with the pension Trustees • The legislation requires the valuation process, including agreement on a revised cont
Slide 21: Successful transition from Ford
Successful transition from Ford • National sales companies JLR is currently in the process of establishing operations in markets where they have previously operated as part of Ford legal entities This transition is progressing to plan with 15 markets successfully being transitioned since acquisition
Slide 22: Vision – The Transformation Plan
Vision – The Transformation Plan 2009 - Stabilise 2013 Stabilise, drive cost, launch Sustainable Growth Complete transformation new product and initiate transformation. 2014 Onwards Deliver key growth market and brand portfolio extension 2010-12 - Transform opportunities Drive transformation to Achi
Slide 23: Strategic priorities and actions
Strategic priorities and actions Regional, Brand and Product Strategies JLR has the best model range in its history – focus now is on increasing share/retail performance There are many opportunities to extend the portfolio on modular architecture for all brands to achieve scale JLR is accelerating e
Slide 24: Overview of Other Key Subsidiaries
Overview of Other Key Subsidiaries TML Q1 FY10 FY 09 Business Description US/Rs.= 49.2 Ownership (US$ Million) (US$ Million) • Revenues: 79.3 • Revenues: 436.2 • 60:40 joint venture with Hitachi Construction Machinery, Japan • PAT : (0.1) • PAT : 9.1 • Market Leader in construction equipment with fa
Slide 25: Joint Venture Update
Joint Venture Update • Fiat India JV (Ranjangaon) Fully operational production facilities with capacity of 200,000 cars for both Tata and Fiat Access to World Class Engine Technology with capacity to manufacture 350,000 units of power trains Fiat 500 and Linea have been launched and have been receiv
Slide 26: Business and Financing Strategy
Business Highlights • Business and Financing Strategy Financial Highlights Subsidiaries Way Forward 26
Slide 27: Reaffirming Business and Financing strategy
Reaffirming Business and Financing strategy • Economic revival and liquidity condition key to short term growth • Reduction of operating costs • Cash flow focused short term business plans • Pursue long term plans Prioritize R&D, focus on new products Full availability of Nano capacity Strict contro
Slide 28: Disclaimer
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