Rocking year as Tata Motors rides on JLR performance
Date: 29 May 2012
It’s been a rocking year for Tata Motors and its associate companies. For the financial year ended March 31, 2012, the consolidated revenue (net of excise) stood at Rs 165,655 crore posting a growth of over 35.6pc over Rs 1,22,128 crore for the corresponding period last year. Consolidated profit for the year (after tax and post minority interest and profit in respect of associate companies stood at Rs 13,517 crore, as compared to Rs 9,274 crore in the corresponding period last year. When it comes to stand alone revenues for the year (net of excise) for 2011-12, Tata Motors recorded Rs 54,307 crore, posting a growth of 15.3pc over Rs 47,088 crore in the corresponding period last year. Standalone profit after tax for the year was Rs 1,242 crore as compared to Rs 1,812 crore in 2010-11.
As expected, Jaguar Land Rover continued to shine in its performance. JLR revenues for FY 2011-12 was 13,512 British Pounds (approx. Rs 1,17,865.5 crore) as compared to 9,871 million British pounds (approx. Rs 86,104,9 crore). Profit after tax was 1,481 million pounds (Rs 12,918.8 crore by current rates). In 2010-11 the company had recorded a profit after tax of 1,036 million British Pounds (approx. Rs 9,037.05 crore). In March 2012, JLR successfully raised 500 million pounds (Rs 4,361.5 crore approx.) with a coupon of 8.25pc and tenor of eight years. The full proceeds were retained at JLR for future use in the company’s business. This was an opportunistic fund raising which enabled JLR reinforce its market acceptance and demonstrated the confidence of the investors while continuing to support steps taken towards strengthening capital structure and extending the debt maturity profile.
In March 2012 JLR also announced that it has signed a joint venture agreement with Chery Automobile Company Ltd. to build vehicles for the Chinese market which is currently under the process for regulatory approvals by the Chinese authorities. The same month, JLR also approved the consolidated businesses of jaguar Cars Ltd. and Land Rover into one legal entity to be named Jaguar Land Rover Ltd. The consolidation is expected to become effective later this year.
For the year 2011-12, JLR sales stood at 314,433 units, the highest ever, representing a growth of 29.1pc as compared to the corresponding period last year supported by new product actions and strong demand in China and other developing markets. The Jaguar volumes for the period stood at 54,039 units and Land Rover volumes stood at 260,394 units.
Tata Daewoo Commercial Vehicles Co. Ltd. registered a net revenue of 767 billion South Korean Wons (approx Rs 3629 crore) while it earned a net profit of 3.6 billion KRW (approx. Rs 17 crore)