Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — Q3 FY2004 Earnings Presentation
19 slides from Tata Motors Passenger Vehicles's earnings presentation, Jan 22, 2004
Slide 1: Tata Motors 3Q FY04 & Apr-Dec FY04 Result Review
Tata Motors 3Q FY04 & Apr-Dec FY04 Result Review January 22, 2004
Slide 2: Presentation Outline
Presentation Outline • 3Q FY04 & Apr-Dec FY04 Results • Performance Review 1
Slide 3: 3Q FY04 Performance
3Q FY04 Performance (Rs cr) 3Q FY04 3Q FY03 Revenue (Net of excise) 3,398.3 2,194.1 • Net Revenue up 55% EBITDA 490.2 287.0 • Volume growth of 53% to 78,380 EBITDA Margin 14.4% 13.1% • Exports volume growth of 393% Other Income 16.7 0.2 Net Interest 47.4 67.1 • EBITDA growth of 71% Cash Profit 459.5
Slide 4: Apr–Dec FY04 Performance
Apr–Dec FY04 Performance Apr-Dec Apr-Dec (Rs cr) FY04 FY03 Revenue (Net of excise) 9,075.8 6,101.0 • Audited Results – a good corporate EBITDA 1,260.6 749.5 governance practice EBITDA Margin 13.9% 12.3% • Net Revenue +49% Other Income 49.9 11.1 Net Interest 127.2 214.3 • Volumes growth of 48% to 216
Slide 5: Key highlights of Apr–Dec FY04 Performance
Key highlights of Apr–Dec FY04 Performance • Export revenues up 128% • Shipments of City Rover begin in 3Q • Non-cyclical revenues account for 15% of Net Revenue. • Net Interest cost down 41% YoY to Rs 127 cr. • Balance sheet size of Rs 5,075 cr with investible surplus of around Rs 1,242 cr. • Gross
Slide 6: Performance of Key Subsidiaries
Performance of Key Subsidiaries • Key subsidiaries posted a combined PBT of Rs 27.2 cr in 3Q FY04 against a loss of Rs 6.8 cr in the last year. • Combined turnover in 3Q up 31% YoY • Combined capital employed of these subsidiaries down by 16% during the fiscal. • Combined debt of these key subsidiar
Slide 7: Presentation Outline
Presentation Outline • 3Q FY04 & Apr-Dec FY04 Results • Performance Review 6
Slide 8: Company Performance - Highlights
Company Performance - Highlights Apr-Dec FY04 Performance § Production volumes +45% 250,000 213,839 216,901 § Sales volumes up 48% 200,000 § Market share gains in both Vehicle classes 147,460 147,022 § Exports volumes surge 152% 150,000 100,000 50,000 0 Production Sales Apr-Dec FY03 Apr-Dec FY04 7
Slide 9: Commercial Vehicles – Highlights of performance
Commercial Vehicles – Highlights of performance Domestic Business Apr-Dec FY04 Performance Ø CV Sales Volume growth of 44% § M/HCV 41% Sales Vol. 72,612 104,616 § LCV 51% Market share Ø LCV market share increased to 50% from 42% 58.8% 55.4% 60% § Pickup market share of 37%. § Recent launch of 407 EX
Slide 10: Commercial Vehicles – Highlights of performance (contd.)
Commercial Vehicles – Highlights of performance (contd.) Ø International Business § Volume growth of 66% to 7,307 units § Exports of Pickups up on the back of increased shipments to European and SE Asian countries. § Exploring high potential markets like China, CIS countries, and SE Asia for its CVs
Slide 11: Passenger Vehicles - Highlights of performance
Passenger Vehicles - Highlights of performance Domestic Business Apr-Dec FY04 Performance Ø Second largest player in domestic PV market Ø PV volume growth of 42% Volumes 68,428 97,217 § Passenger Cars 47% § MUVs 27% Market share Ø Market share gains 20% 15.5% § Cars – 16% from 13% last year 13.7% §
Slide 12: Passenger Vehicles - Highlights of performance (contd.)
Passenger Vehicles - Highlights of performance (contd.) Ø International Business § Volume growth of 389% to 7,761 units § The shipments of Passenger Cars to MG Rover commenced in 3Q FY04 with over 4,000 cars being exported during the quarter. 11
Slide 13: New Products
New Products 407 EX Truck New Indica V2 (launched in Nov. 2003) (launched in Jan. 2004) New range of buses Indigo Marina (unveiled in Jan 2004) (unveiled in Jan. 2004) 12
Slide 14: Consistent improvement in EBITDA margin
Consistent improvement in EBITDA margin EBITDA growth of 68% in Apr-Dec FY04 16% 13.9% 16% 14.4% 14% 12.5% 14% 13.1% 13.8% 13.3% 12% 9.9% 12% 13.1% 12.1% 11.3% 10% 11.5% 10% 8.9% 10.0% 8% 8.5% 6.1% 8% 8.4% 6% 6.3% 6% 4% 5.1% 4.9% 4% 2% 2% 0% 0% FY01 FY02 FY03 Apr-Dec 2Q 01 3Q 01 4Q 01 1Q 01 2Q 02 3Q
Slide 15: Debt position
Debt position Net Debt (Rs cr) Debt / Equity position 1,394 1.0 1500 0.8 0.58 0.54 1000 0.6 0.43 0.4 500 169 0.2 0.05 0 0.0 Mar'03 Dec'03 Mar'03 Dec'03 Gross D/E Net D/E Net Debt = Gross Debt – Surplus Cash 14
Slide 16: Tight Working Capital Controls
Tight Working Capital Controls Days of sale Days of sale Inventory Receivables (non-HP) 60 30 40 39 19 18 40 35 20 14 20 10 0 0 Dec'02 Mar'03 Dec'03 Dec'02 Mar'03 Dec'03 Negative Net Working Capital position maintained 15
Slide 17: Stock performance
300 294 Tata Motors Stock performance 2 7 6Auto Index 250 200 190 BSE Sensex 150 100 50 01-Apr-03 16-May-03 27-Jun-03 08-Aug-03 22-Sep-03 03-Nov-03 15-Dec-03 Total Auto Index Tata Motors BSE Sensex Apr 1, 2003 Dec. 31, 2003 % change BSE Sensex 3,081 5,839 +90% Auto Index (April 1, 2003=100) 100 276
Slide 18: 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 19: Thank You
< TATA Thank You TATA MOTORS