Tata Motors
While most were expecting very down beat numbers, some brokerage houses and analysts also calling out a net loss for Q4, Tata Motors sprung a pleasant surprise on all; the numbers were down but not as bad as expected. by declaring good numbers for Q4FY13. It posted a consolidated net profit at Rs.3945 crore, down 37% (YoY). This was on a 10% increase in consolidated net revenue at Rs.56,002 crore. It was mainly JLR which helped the company post better-than-expected numbers. But sequentially, the numbers look brilliant – consolidated net profit is up by a whopping 142% on a 22% rise in net sales.
JLR wholesales for the quarter ended March 31, 2013, grew 18.7% over corresponding period last year to 116,340 units, its strongest ever quarterly global sales performance. Of this, the Jaguar volumes for the period stood at 21,163 units, up 50% and that of Land Rover was at 95,177 units, growth of 13%. Introduction of new products, smaller engines and new all-wheel drive in XF and XJ is what helped shore the performance. Tata Daewoo Commercial Vehicles based in Korea posted a loss while Tata Motors Finance posted a PAT of Rs.309 crore, up 29%.
But the performance of Tata Motors in India was not as encouraging, with commercial and passenger vehicles registering a 31% decline. Standalone net revenue declined 32% and the OPM slipped down sharply from 9.5% to 3.6% (YoY). And it ended the quarter with a net loss at Rs.312 crore. This means but for JLR, if it had been Tata Motors alone, we would seen red color all over.
The consolidated interest outgo for the quarter was at Rs.967 crore and for FY13 it stood at Rs.3553 crore. As at 31st March 2013, debt (short term borrowings + long term borrowings) stood at Rs.43,722 crore. Cash and bank balance stood at Rs.21,113 crore.