Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — Q2 FY2004 Earnings Presentation
16 slides from Tata Motors Passenger Vehicles's earnings presentation, Oct 29, 2003
Slide 1: Tata Motors 2Q FY04 Result Review
Tata Motors 2Q FY04 Result Review October 29, 2003
Slide 2: Presentation Outline
Presentation Outline • 2Q FY04 results • Operational Highlights 1
Slide 3: 2Q FY04 Performance
2Q FY04 Performance (Rs cr) 2Q FY04 2Q FY03 1H FY04 1H FY03 Revenue (Net of excise) 3,176.6 2,159.2 5,677.5 3,906.9 EBITDA 438.9 261.1 770.5 462.5 EBITDA Margin 13.8% 12.1% 13.6% 11.8% Other Income 22.8 4.0 33.3 10.9 Net Interest 26.0 67.2 79.8 147.2 Depreciation 93.2 90.0 186.2 179.5 Amortisation 1
Slide 4: Established Profitable Growth Path
Established Profitable Growth Path 2Q FY04 Highlights • Profit before Tax (PBT) of Rs 328.5 cr during 2Q FY04 compared to Rs 107.9 cr last year – growth of 204%. • Profit after Tax (PAT) of Rs 206.7 cr in 2Q FY04 against last year’s Rs 58.8 cr – an increase of 251%. • Cash Profit more than doubled t
Slide 5: Key highlights of 2Q FY04
Key highlights of 2Q FY04 • Net Revenues up 47% during the quarter • Volume growth of 42% to 78,125 units • Exports volumes are up 59% during the quarter; Exports revenues up 80% • EBITDA of Rs 439 cr, growth of 68% compared to Rs 261 cr last year • Interest cost down 61% YoY to Rs 26 cr. However, t
Slide 6: Performance of Key Subsidiaries
Performance of Key Subsidiaries • Key subsidiaries posted a combined PBT of Rs 7.9 cr in 2Q FY04 against a loss of Rs 7.5 cr in the last year. • Combined turnover up 52% YoY • Combined capital employed of these subsidiaries down by 9% compared to March 31, 2003. • Combined debt of these key subsidia
Slide 7: Presentation Outline
Presentation Outline • 2Q FY04 results • Operational Highlights 6
Slide 8: Commercial Vehicles
Commercial Vehicles Highlights of 1H FY04 Performance 1H FY04 Performance Volumes 44,920 64,131 § Volume growth of 43% (+43%) § M/HCVs 38% Market share 58.5% 60% 54.0% § LCV 52% § Revival in Bus demand § Market share gains 40% § M/HCV - 64% from 63% last year § LCV – 50% from 41% last year 20% § 39%
Slide 9: Passenger Vehicles
Passenger Vehicles Highlights of 1H FY04 Performance 1H FY04 Performance § Volume growth of 44% Volumes 46,525 66,973 § Compact Car 14% (+44%) § UV 20% Market share 20% 16.2% § Market share gains 13.8% § PVs – 16.2% from 13.8% last year 15% § Compact – 24% from 23% last year 10% § Entry-level Mid-si
Slide 10: Exports
Exports Highlights of 1H FY04 Performance § Volume growth of 67% to 7,417 units from 4,429 units. § Commercial Vehicles +31% § Passenger Vehicles +171% § Value growth of 70% to US$ 76.8 mn § Better penetration in near-by markets of Sri Lanka & Bangladesh § Exploring high potential markets like South
Slide 11: Consistent improvement in EBITDA margin
Consistent improvement in EBITDA margin EBITDA growth of 67% in 1H FY04 16% 16% 13.6% 13.8% 14% 13.1% 14% 12.5% 13.3% 12% 13.0% 12% 12.1% 9.9% 11.3% 11.5% 10% 10% 8.9% 10.0% 8.5% 8% 8% 6.1% 8.4% 6.3% 6% 6% 5.1% 4.9% 4% 4% 2% 2% 0% 0% 01 01 01 01 02 02 02 02 03 03 03 03 04 04 FY FY FY FY FY FY FY FY
Slide 12: Balanced Debt position
Balanced Debt position Net Debt (Rs cr) Debt / Equity position 1.0 1,394 1500 0.8 0.61 0.58 0.54 843 0.6 1000 0.4 0.29 500 0.2 0.0 0 Mar'03 Sep'03 Mar'03 Sep'03 Gross D/E Net D/E Net Debt = Gross Debt – Surplus Cash 11
Slide 13: Tight Working Capital Controls
Tight Working Capital Controls Days of sale Days of sale Inventory Receivables (non-HP) 60 30 39 20 38 18 40 35 20 16 20 10 0 0 Sep'02 Mar'03 Sep'03 Sep'02 Mar'03 Sep'03 12
Slide 14: Stock performance
Index Stock performance Rs bn 300 120 250 244 100 98 200 80 63 162 150 60 50 52 50 40 42 127 100 40 50 20 0 0 2 3 3 2 3 2 3 3 3 2 02 03 2 2 2 2 02 2 3 02 03 -0 -0 -0 2 3 -0 -0 -0 -0 3 3 3 -0 -0 -0 -0 -0 -0 -0 -0 l-0 -0 -0 -0 -0 -0 n- n- g- un an un r- r- ay ay ul ul ov eb ar ct ug ep ov ec pr pr Ju
Slide 15: 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 16: Thank You
< TATA Thank You TATA MOTORS