Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — FY2007 Earnings Presentation
22 slides from Tata Motors Passenger Vehicles's earnings presentation, May 18, 2007
Slide 1: Tata Motors FY07 Results Review
Tata Motors FY07 Results Review 18th May, 2007
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 Performance • Financial Performance • Significant Events 2
Slide 4: Total Volume Growth in Q4FY07 and FY07
Total Volume Growth in Q4FY07 and FY07 + 16% 172,355 148,343 14,640 15,374 4QFY07 Volume Performance 157,715 132,969 + 28% 580,280 53,474 4Q FY06 4Q FY07 454,920 Domestic Exports 50,223 526,806 403,906 FY07 Volume Performance FY06 FY07 Domestic Exports 3
Slide 5: Medium & Heavy and Light Commercial Vehicles
Medium & Heavy Commercial Vehicles Light Commercial Vehicles 172,842 125,744 + 34% + 46% 128,610 86,226 FY06 FY07 FY06 FY07 Industry volume growth during FY07 : 32% Industry volume growth during FY07 : 34% TML Market share improved to 63.6% in FY07 TML market share improved to 65.4% in FY07
Slide 6: Passenger Vehicle Volumes and Market Share
Passenger Vehicle Volumes and Market Share Retained the #2 position in the domestic PV market. Total Market share in FY07 : 16.4% + 20% 226,892 (FY06 : 16.5%) Segment wise Market share in FY07 188,861 47,892 Small Car : 17.4% (FY06 : 16.9%) 37,910 34,310 Entry Mid Size : 38.0% (FY06 :33.0%
Slide 7: Vehicle Financing
Vehicle Financing No. of Vehicles Financed Disbursals (Rs. Cr) (TML & TMLFSL) (TML & TMLFSL) 180,000 31.4% 35% 9,415 160,000 30% + 75% 140,000 23.8% 165,376 25% 120,000 100,000 20% 5,479 80,000 96,247 15% 60,000 10% 40,000 5% 20,000 0 0% FY06 FY07 FY06 FY07 Units Financed Market Share For the period
Slide 8: Agenda
Agenda • Business Performance • Financial Performance • Significant Events 7
Slide 9: Healthy Consolidated Financial Performance (Q4)
Healthy Consolidated Financial Performance Rs crores Q4FY06 Q4FY07 Net Revenues 24% Net Revenue 7,865 9,759 EBITDA 1,036 1,251 EBITDA 21% EBITDA Margin 13.2% 12.8% PBT 752 948 PBT 26%; Tax 232 282 Net Profit 24% Net Profit 523 650 Basic EPS (Rs) (non Annualised) 13.81 16.86 EPS of Rs.16.86
Slide 10: Healthy Consolidated Financial Performance (FY)
Healthy Consolidated Financial Performance Rs crores FY06 FY07 Net Revenues 36% Net Revenue 23,769 32,426 EBITDA 3,048 4,116 EBITDA 35% EBITDA Margin 12.8% 12.7% PBT 32%; PBT 2,349 3,088 Tax 640 883 PAT 26% Net Profit 1,728 2,170 Basic EPS (Rs) 45.86 56.43 EPS of Rs.56.43 ; 23% 9
Slide 11: Continued Improvement in Stand alone Financial Performance (Q4)
Continued Improvement in Stand alone Financial Performance Rs crores Q4FY06 Q4FY07 Net Revenues 20% Net Revenue 6,870 8,267 EBITDA 892 966 EBITDA 8% EBITDA Margin 13.0% 11.7% PBT 20%; PBT 648 780 Tax 190 203 PAT 26% Profit after Tax 458 577 Basic EPS (Rs) (non Annualised) 12.10 14.97 EPS o
Slide 12: Continued Improvement in Stand alone Financial Performance (FY)
Continued Improvement in Stand alone Financial Performance Rs crores FY06 FY07 Net Revenues 33% Net Revenue 20,653 27,535 EBITDA 29% EBITDA 2,576 3,314 EBITDA Margin 12.5% 12.0% PBT 25%; PBT 2,053 2,573 PAT 25% Tax 525 660 Profit after Tax 1,529 1,913 EPS of Rs.49.76 ; 23% Basic EPS (Rs) 4
Slide 13: Working Capital
Working Capital Inventory Receivables Days of sale Days of sale 60 15 40 9 9 40 10 29 20 5 0 0 31st Dec'06 31st March'07 31st Dec'06 31st March'07 12
Slide 14: Favourable Debt Equity Ratio & High Return on Capital
Favourable Debt Equity Ratio & High Return on Capital Rs. cr 15000 0.64 0.70 11,666 0.60 10000 9,096 0.50 0.51 0.40 5000 0.30 ROCE 0.20 28% 27% 0 0.10 FY06 FY07 Balance Sheet Size Net Debt/Equity FY06 FY07 13
Slide 15: Subsidiary Financials (FY07) contd…
Subsidiary Financials (FY07) contd… TDCV (Indian GAAP) Telcon 2700 90 2000 1,827.0 200 2334 1800 180 2400 80 +40.1% (+47.2%) 82.9 2100 70 1600 184 160 1400 1,305.0 140 1800 1585 60 1200 120 Rs. Crs Rs. Crs 1500 58.3 50 (+42.3%) 1000 +111.7% 100 1200 40 800 80 900 30 87 600 60 600 20 400 40 300 10 20
Slide 16: Subsidiary Financials (FY07)
Subsidiary Financials (FY07) TTL (consolidated) 200 HVTL HVAL 57.9 60 175.6 +25.1% 1000 960.5 18 46.3 50 (+76.2%) 16 +37.5% 196.7 800 16.5 14 150 +36.7% 40 11.6 45.0 127.7 Rs. Crs 12 600 545.0 143.9 Rs. Crs 10 30 (+42.2%) +49.5% 8 30.1 400 100 20 6 200 4 10 2 0 0 50 0 FY06 FY07 FY06 FY07 FY06 FY07 T
Slide 17: International Business continues to make strides
International Business continues to make strides Strengthening position in existing Markets 17% 18% • New Products 14% • Deeper penetration Exploring New Geographies 8% • LATAM • Russia 5% • Thailand International Alliances • Thonburi JV in Thailand FY03 FY04 FY05 FY06 FY07 • Licencing of Pick up te
Slide 18: Growing Non-Cyclical Business
Growing Non-Cyclical Business Non Cyclical Business Revenue 23% 24% % of 19% Consolidated 7781 Revenue 13% 14% 5625 3741 1968 Rs Cr 1256 FY03 FY04 FY05 FY06 FY07 17
Slide 19: Agenda
Agenda • Business Performance • Financial Performance • Significant Events 18
Slide 20: Significant Events
Significant Events TML signs JV with Fiat for manufacture of passenger cars, engines & transmissions at Ranjangaon Feasibility MoU signed between Tata Motors and Iveco for joint co-operation in CV easibility MoU signed between Tata Motors and Iveco for joint co-operation in CV y MoU signed between T
Slide 21: Key Challenges Going Forward
Key Challenges Going Forward Inflationary pressures and likely interest rate hikes Input Costs are expected to continue to be pose as a key challenge Crude Oil price trends need to be watched closely Increase in competitive intensity 20
Slide 22: Thank You
«ap TATA Thank You TATA MOTORS