Case Study Data (N)

Tata Motors
------------------- in Rs. Cr. -------------------

Standalone Balance Sheet
Mar 19 Mar-18 Mar-17 Mar-16
12 mths 12 mths 12 mths 12 mths
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 679.22 679.22 679.22 679.18
Total Share Capital 679.22 679.22 679.22 679.18
Revaluation Reserves - - - -
Reserves and Surplus 21,483.30 19,491.76 20,483.39 22,582.93
Total Reserves and Surplus 21,483.30 19,491.76 20,483.39 22,582.93
Total Shareholders Funds 22,162.52 20,170.98 21,162.61 23,262.11
NON-CURRENT LIABILITIES
Long Term Borrowings 13,919.81 13,155.91 13,686.09 10,599.96
Deferred Tax Liabilities [Net] 205.86 154.61 147.58 71.39
Other Long Term Liabilities 399.04 502.37 1,451.47 3,289.91
Long Term Provisions 1,281.59 1,009.48 892.18 750.89
Total Non-Current Liabilities 15,806.30 14,822.37 16,177.32 14,712.15
CURRENT LIABILITIES
Short Term Borrowings 3,617.72 3,099.87 5,158.52 3,654.72
Trade Payables 10,408.83 9,411.05 7,082.95 5,141.17
Other Current Liabilities 7,765.57 10,845.11 8,819.71 9,455.58
Short Term Provisions 1,148.69 862.92 477.17 450.27
Total Current Liabilities 22,940.81 24,218.95 21,538.35 18,701.74
Total Capital And Liabilities 60,909.63 59,212.30 58,878.28 56,676.00
ASSETS
NON-CURRENT ASSETS
Tangible Assets 18,316.61 18,192.52 17,897.12 17,573.25
Intangible Assets 3,970.22 3,411.23 2,875.80 3,502.56
Capital Work-In-Progress 2,146.96 1,371.45 1,902.61 1,557.95
Intangible Assets Under Development 4,139.63 3,825.15 5,368.38 4,128.58
Fixed Assets 28,573.42 26,800.35 28,043.91 26,762.34
Non-Current Investments 15,434.19 14,260.79 14,858.39 15,217.48

Long Term Loans And Advances 143.13 143.96 391.46 252.93
Other Non-Current Assets 3,529.59 3,035.54 2,827.44 2,581.56
Total Non-Current Assets 47,680.33 44,240.64 46,121.20 44,814.31
CURRENT ASSETS
Current Investments 1,433.18 1,820.87 2,437.42 1,745.84
Inventories 4,662.00 6,352.04 5,553.01 5,117.92
Trade Receivables 3,250.64 3,479.81 2,128.00 2,045.58
Cash And Cash Equivalents 1,306.61 795.42 326.61 788.42
Short Term Loans And Advances 200.08 140.27 215.96 484.44
OtherCurrentAssets 2,376.79 2,383.25 2,096.08 1,679.49
Total Current Assets 13,229.30 14,971.66 12,757.08 11,861.69
Total Assets 60,909.63 59,212.30 58,878.28 56,676.00
OTHER ADDITIONAL INFORMATION

CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 7,246.04 5,269.63 4,787.17 -
CIF VALUE OF IMPORTS
Raw Materials - - - -
Stores, Spares And Loose Tools - - - -
Trade/Other Goods - - - -
Capital Goods - - - -
EXPENDITURE IN FOREIGN EXCHANGE
Expenditure In Foreign Currency - 3,079.76 - -
REMITTANCES IN FOREIGN CURRENCIES FOR
DIVIDENDS
Dividend Remittance In Foreign Currency - - - -
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods - - - -
Other Earnings - 5,422.47 - -
BONUS DETAILS
Bonus Equity Share Capital 111.29 111.29 111.29 111.29
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value - - 218.18 144.34
Non-Current Investments Unquoted Book Value - 310.19 310.19 310.19
CURRENT INVESTMENTS
Current Investments Quoted Market Value - 303.84 - -
Current Investments Unquoted Book Value - 1,517.03 2,437.42 1,745.84
Source: Money Control

---------
Mar-15
12 mths
643.78
643.78
22.87
14,195.94
14,218.81
14,862.59
12,318.96
-
286.80
2,104.19
14,709.95
7,762.01
8,852.65
3,142.88
613.09
20,370.63
49,943.17
12,260.50
3,522.73
1,349.95
4,690.84
21,824.02
16,966.95
2,403.56
175.67
41,370.20
20.22
4,802.08
1,114.48
944.75
1,574.41
117.03
8,572.97
49,943.17
9,882.65
1,254.57
37.78
211.49
387.62
1,170.88
337.83
3,980.18
1,600.52
111.29
275.36
16,613.45
-
20.22
Tata Motors
------------------- in Rs. Cr. -------------------
Standalone Profit & Loss account
Mar 19 Mar-18 Mar-17
12 mths 12 mths 12 mths
INCOME
Revenue From Operations [Gross] 68,764.88 58,234.33 48,078.77
Less: Excise/Sevice Tax/Other Levies 0 793.28 4,738.15
Revenue From Operations [Net] 68,764.88 57,441.05 43,340.62
Other Operating Revenues 437.88 1,390.36 975.72
Total Operating Revenues 69,202.76 58,831.41 44,316.34
Other Income 2,554.66 1,557.60 981.06
Total Revenue 71,757.42 60,389.01 45,297.40
EXPENSES
Cost Of Materials Consumed 43,748.77 37,080.45 27,651.65
Purchase Of Stock-In Trade 6,722.32 4,762.41 3,945.97
Operating And Direct Expenses 571.76 474.98 454.48
Changes In Inventories Of FG,WIP And Stock-In Trade 144.69 842.05 -252.14
Employee Benefit Expenses 4,273.10 3,966.73 3,764.35
Finance Costs 1,793.57 1,744.43 1,569.01
Depreciation And Amortisation Expenses 3,098.64 3,101.89 3,037.12
Other Expenses 9,895.68 9,251.41 8,083.12
Less: Amounts Transfer To Capital Accounts 1,093.11 855.08 941.6
Total Expenses 69,155.42 60,369.27 47,311.96
Mar-19 Mar-18 Mar-17

Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 2,602.00 19.74 -2,014.56
Exceptional Items -203.07 -966.66 -338.71
Profit/Loss Before Tax 2,398.93 -946.92 -2,353.27
Tax Expenses-Continued Operations
Current Tax 294.66 92.63 57.06
Less: MAT Credit Entitlement 0 0 0
Deferred Tax 83.67 -4.7 19.27
Total Tax Expenses 378.33 87.93 76.33
Profit/Loss After Tax And Before ExtraOrdinary Items 2,020.60 -1,034.85 -2,429.60
Extraordinary Items 0 0 0
Profit/Loss From Continuing Operations 2,020.60 -1,034.85 -2,429.60
Profit/Loss For The Period 2,020.60 -1,034.85 -2,429.60

EARNINGS PER SHARE
Basic EPS (Rs.) 5.94 -3.05 -7.15
Diluted EPS (Rs.) 5.94 -3.05 -7.15
VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS
Imported Raw Materials 0 0 0
Indigenous Raw Materials 0 0 0
STORES, SPARES AND LOOSE TOOLS
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 0 0 73
Equity Dividend Rate (%) 0 0 0
Source : Money Control

n Rs. Cr. -------------------
Mar-16 Mar-15
12 mths 12 mths
46,883.53 39,120.10
4,538.14 3,229.60
42,345.39 35,890.50
500.08 404.24
42,845.47 36,294.74
1,402.31 1,881.41
44,247.78 38,176.15
24,997.40 22,155.23
4,101.97 5,765.24
418.27 437.47
10.05 -878.82
3,188.97 3,091.46
1,592.00 1,611.68
2,329.22 2,603.22
8,216.65 8,080.39
1,034.40 1,118.75
43,820.13 41,747.12
Mar-16 Mar-15
12 mths 12 mths
427.65 -3,570.97
-271.84 -403.75
155.81 -3,974.72
-7.34 37.34
0 -777.18
2.54 -50.29
-4.8 764.23
160.61 -4,738.95
-222.91 0
-62.3 -4,738.95
-62.3 -4,738.95
Mar-16 Mar-15
12 mths 12 mths
-0.18 -15
-0.18 -15
0 1,073.39
0 21,081.84
0 0
10 0
Tata Motors
------------------- in Rs. Cr. -------------------
Cash Flow
Net Profit/Loss Before Extraordinary Items And Tax 2,602.00 0 -1,034.85 -1,034.85
Net CashFlow From Operating Activities 6,292.63 0 4,133.94 4,133.94
Net Cash Used In Investing Activities -3,820.55 0 -710.27 -710.27
Net Cash Used From Financing Activities -2,529.70 0 -3,105.63 -3,105.63
Foreign Exchange Gains / Losses -1.8 0 -0.16 -0.16
Net Inc/Dec In Cash And Cash Equivalents -59.42 0 317.88 317.88

Cash And Cash Equivalents Begin of Year 546.82 0 228.94 228.94
Cash And Cash Equivalents End Of Year 487.4 0 546.82 546.82

-----------
Mar-17
12 mths
-2,429.60
1,453.45
-2,859.00
1,208.80
-1.38
-198.13
427.07
228.94
Tata Motors
------------------- in Rs. Cr. -------------------

Key Financial Ratios
Mar '19 Mar '18 Mar '17
Investment Valuation Ratios

Face Value 2 2 2
Dividend Per Share -- -- --
Operating Profit Per Share (Rs) 14.55 9.74 4.74
Net Operating Profit Per Share (Rs) 203.79 173.24 130.5
Free Reserves Per Share (Rs) -- -- --
Bonus in Equity Capital 16.38 16.38 16.38
Profitability Ratios
Operating Profit Margin(%) 7.13 5.62 3.63
Profit Before Interest And Tax Margin(%) 2.56 0.34 -3.14
Gross Profit Margin(%) 2.66 0.35 -3.21
Cash Profit Margin(%) 7.41 5.02 2.08
Adjusted Cash Margin(%) 7.41 5.02 2.08
Net Profit Margin(%) 2.91 -1.75 -5.48
Adjusted Net Profit Margin(%) 2.81 -1.71 -5.36
Return On Capital Employed(%) 11.07 4.84 -1.11
Return On Net Worth(%) 9.11 -5.13 -11.48
Adjusted Return on Net Worth(%) 10.03 -0.33 -9.88
Return on Assets Excluding Revaluations 65.26 59.4 62.32
Return on Assets Including Revaluations 65.26 59.4 62.32
Return on Long Term Funds(%) 12.18 5.29 -1.27
Liquidity And Solvency Ratios

Current Ratio 0.54 0.57 0.53
Quick Ratio 0.51 0.44 0.42
Debt Equity Ratio 0.79 0.81 0.89
Long Term Debt Equity Ratio 0.63 0.65 0.65
Debt Coverage Ratios

Interest Cover 2.45 1.01 -0.28
Total Debt to Owners Fund 0.79 0.81 0.89
Financial Charges Coverage Ratio 4.18 2.79 1.65
Financial Charges Coverage Ratio Post Tax 3.85 2.18 1.39
Management Efficiency Ratios

Inventory Turnover Ratio 14.84 10.52 8.83
Debtors Turnover Ratio 20.56 20.98 21.24
Investments Turnover Ratio 14.84 10.52 8.83
Fixed Assets Turnover Ratio 3.78 1.65 1.3
Total Assets Turnover Ratio 1.94 1.78 1.19
Asset Turnover Ratio 1.82 1.54 1.14
Average Raw Material Holding -- -- --
Average Finished Goods Held -- -- --
Number of Days In Working Capital -60.33 -76.91 -83.22
Profit & Loss Account Ratios
Material Cost Composition 72.93 72.21 72.77
Imported Composition of Raw Materials C -- -- --
Selling Distribution Cost Composition -- 1.22 1.91
Expenses as Composition of Total Sales -- 9.21 --
Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit -- -- --
Dividend Payout Ratio Cash Profit -- -- --
Earning Retention Ratio 100 100 100
Cash Earning Retention Ratio 100 100 100
AdjustedCash Flow Times 3.3 5.36 19.92

Rs. Cr. -------------------
Mar '16 Mar '15
2 2
0.2 --
8.68 -3.84
126.18 112.76
-- --
16.38 17.28
6.87 -3.4
1.39 -10.06
1.44 -10.58
6.24 -4.53
6.24 -4.53
-0.14 -13.05
-0.14 -12.41
5.38 -5.61
-0.26 -31.93
1.85 -29.21
68.51 46.1
68.51 46.18
5.96 -7.21
0.51 0.42
0.41 0.42
0.61 1.35
0.46 0.83
1.27 -1.22
0.61 1.35
2.73 0.4
2.42 -0.33
9.26 8.23
27.12 31.14
9.26 8.23
1.36 1.48
1.26 1.16
1.18 1.06
-- --
-- --
-88.55 -41.83
69.12 78.15
-- 4.84
1.56 --
-- 15.37
-- --
-- --
100 100
100 --
5.16 --
Tata Motors
------------------- in Rs. Cr. -------------------

Standalone Half Yearly Results
Mar '19 Sep '18 Mar '18
Net Sales/Income from operations 34,528.42 34,236.46 35,880.92

Other Operating Income 240.66 197.22 --
Total Income From Operations 34,769.08 34,433.68 35,880.92
EXPENDITURE
Consumption of Raw Materials 20,738.48 23,010.29 22,378.89
Purchase of Traded Goods 3,537.06 3,186.26 2,916.41
Increase/Decrease in Stocks 1,354.97 -1,210.28 658.22
Power & Fuel -- -- --
Employees Cost 2,194.78 2,078.32 2,032.90
Depreciation 1,639.44 1,459.20 1,625.04
Excise Duty -- -- --
Admin. And Selling Expenses -- -- --
R & D Expenses -- -- --
Provisions And Contingencies -- -- --
Exp. Capitalised -560.28 -532.83 -466.38
Other Expenses 4,802.32 5,664.12 5,863.76
P/L Before Other Inc. , Int., Excpt. Items & Ta 1,062.31 778.6 872.08
Other Income 689.2 1,865.46 768.91
P/L Before Int., Excpt. Items & Tax 1,751.51 2,644.06 1,640.99
Interest 857.22 936.35 947.47
P/L Before Exceptional Items & Tax 894.29 1,707.71 693.52
P/L Before Tax 784.43 1,614.50 -273.14
Tax 60.62 317.71 43.15
P/L After Tax from Ordinary Activities 723.81 1,296.79 -316.29
Prior Year Adjustments -- -- --
Extra Ordinary Items -- -- --
Net Profit/(Loss) For the Period 723.81 1,296.79 -316.29
Equity Share Capital 679.22 679.22 679.22

Reserves Excluding Revaluation Reserves -- -- --
Equity Dividend Rate (%) -- -- --
EPS Before Extra Ordinary
Basic EPS -- 3.8 --
Diluted EPS -- 3.8 --
EPS After Extra Ordinary
Basic EPS -- 3.8 --
Diluted EPS -- 3.8 --
Source: Money Control

Rs. Cr. -------------------
Sep '17 Mar '17
22,982.12 23,710.62
-- 95.92
22,982.12 23,806.54
14,701.73 14,310.08
1,846.00 2,039.91
180.54 689.96
-- --
1,773.95 1,777.88
1,425.41 1,538.58
-- --
-- --
-- --
-- --
-386.65 -449.49
4,143.76 4,741.73
-702.62 -842.11
781.81 208.27
79.19 -633.84
811.93 868.25
-732.74 -1,502.09
-- -347.63
-732.74 -1,849.72
29.61 25.26
-762.35 -1,874.98
-- --
-- --
-762.35 -1,874.98
679.22 679.22
-- --
-- --
-2.24 --
-2.24 --
-2.24 --
-2.24 --
Subros
------------------- in Rs. Cr. -------------------

SHAREHOLDER'S FUNDS
Equity Share Capital 13.05 12 12
Total Share Capital 13.05 12 12
Reserves and Surplus 667.08 392.77 335.81

Total Reserves and Surplus 667.08 392.77 335.81
Total Shareholders Funds 680.13 404.77 347.81
Long Term Borrowings 57.44 152.6 156.76
Deferred Tax Liabilities [Net] 1.25 0 0
Other Long Term Liabilities 0 0 0
Long Term Provisions 6.36 2.41 0.92
Total Non-Current Liabilities 65.05 155 157.68
CURRENT LIABILITIES
Short Term Borrowings 130.31 162.85 170.13
Trade Payables 389.87 409.92 239.88
Other Current Liabilities 107.5 158.24 205.47
Short Term Provisions 7.73 7.08 4.62
Total Current Liabilities 635.41 738.09 620.1
Total Capital And Liabilities 1,380.59 1,297.86 1,125.59
ASSETS
NON-CURRENT ASSETS
Tangible Assets 776.03 528.92 333.75
Intangible Assets 0 140.74 163.43
Capital Work-In-Progress 0 46.85 124.13
Intangible Assets Under Development 0 42.98 25.02
Fixed Assets 776.03 759.5 646.32
Non-Current Investments 2.29 2.5 2.5

Deferred Tax Assets [Net] 0 11.41 15.29
Long Term Loans And Advances 9.62 9.38 8.08
Other Non-Current Assets 35.78 30.04 27.53
Total Non-Current Assets 823.72 812.83 699.72
CURRENT ASSETS
Inventories 249.21 239.63 205.23
Trade Receivables 167.32 161.4 130.21
Cash And Cash Equivalents 89.91 19.84 3.81
Short Term Loans And Advances 1.08 0.38 0.6
OtherCurrentAssets 49.35 63.79 86.03
Total Current Assets 556.87 485.03 425.87
Total Assets 1,380.59 1,297.86 1,125.59

Contingent Liabilities 0 11.5 65.06
Raw Materials 0 0 0
Stores, Spares And Loose Tools 0 0 0
Trade/Other Goods 0 380.22 448.27
Capital Goods 0 22.49 32.96
Expenditure In Foreign Currency 0 37.83 52.28
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS

Dividend Remittance In Foreign Currency - - -
FOB Value Of Goods - 0.43 0.42
Other Earnings - - -
BONUS DETAILS
Bonus Equity Share Capital - 6 6
Non-Current Investments Quoted Market Value - - -
Non-Current Investments Unquoted Book Value - - -
CURRENT INVESTMENTS
Current Investments Quoted Market Value - - -
Current Investments Unquoted Book Value - - -

Rs. Cr. -------------------
Mar-16 Mar-15
12 mths 12 mths
12 12
12 12
323.37 305.14
323.37 305.14
335.37 317.14
188.97 214.31
29.45 27
0.42 0.37
2.93 2.63
221.77 244.3
108.29 118.79
129.31 110.33
199.26 176.07
6.85 6.03
443.71 411.22
1,000.85 972.66
410.2 413.58
152.92 122.74
43.28 51.45
10.86 37.02
617.26 624.79
2.5 2.5
0 0
48.28 45.93
0 0
668.03 673.22
176.62 173.42
98.56 77.61
6.99 6.92
50.43 41.21
0.23 0.28
332.82 299.44
1,000.85 972.66
61.6 67.3
412.11 410.44
3.1 4.42
0 0
14.25 21.08
23.85 25.99
1.09 1.09
0.14 0.07
- -
6 6
- -
2.5 2.5
- -
- -
Subros
------------------- in Rs. Cr. -------------------
INCOME
Revenue From Operations [Gross] 2,124.48 1,969.56 1,741.20
Less: Excise/Sevice Tax/Other Levies 0 56.67 206.29
Revenue From Operations [Net] 2,124.48 1,912.89 1,534.92
Other Operating Revenues 0 0 0
Total Operating Revenues 2,124.48 1,912.89 1,534.92
Other Income 10.25 7.43 7.28
Total Revenue 2,134.73 1,920.32 1,542.19
EXPENSES
Cost Of Materials Consumed 1,485.03 1,334.50 1,070.90
Changes In Inventories Of FG,WIP And Stock-In Trade -0.98 0.45 -3.95
Employee Benefit Expenses 206.46 188.12 153.72
Finance Costs 42.19 41.21 47.91
Depreciation And Amortisation Expenses 78.85 92 87.91
Other Expenses 205.87 179.84 146.48
Total Expenses 2,017.42 1,836.12 1,502.97

Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 117.31 84.2 39.22
Profit/Loss Before Tax 113.97 82.38 8.19
Current Tax 37.84 17.87 1.94
Less: MAT Credit Entitlement 0 0 0
Deferred Tax 0 3.89 -7.09
Tax For Earlier Years 0 0 0
Total Tax Expenses 37.84 21.76 -5.15
Profit/Loss After Tax And Before ExtraOrdinary Items 76.13 60.62 13.34
Profit/Loss From Continuing Operations 76.13 60.62 13.34
Profit/Loss For The Period 76.13 60.62 13.34


EARNINGS PER SHARE
Basic EPS (Rs.) 12.35 10.11 2.22
Diluted EPS (Rs.) 12.35 10.11 2.22
Imported Raw Materials 0 0 0
Indigenous Raw Materials 0 0 0
Imported Stores And Spares 0 0 0
Indigenous Stores And Spares 0 0 0
Equity Share Dividend 0 3 4.8
Tax On Dividend 0 0.61 0.98
Equity Dividend Rate (%) 65 55 25

Rs. Cr. -------------------
Mar-16 Mar-15
12 mths 12 mths
1,479.63 1,333.00
176.71 140.4
1,302.92 1,192.60
3.97 4.55
1,306.90 1,197.15
2.43 1.04
1,309.33 1,198.19
883.98 808.35
-0.63 5.75
130.99 115.98
41.73 38.72
86.36 78.68
140.46 130.31
1,282.88 1,177.79
Mar-16 Mar-15
12 mths 12 mths
26.44 20.4
0 0
26.44 20.4
5.68 4.34
5.68 4.28
2.45 0.04
-0.01 -0.02
2.44 0.08
24 20.32
24 20.32
24 20.32
Mar-16 Mar-15
12 mths 12 mths
4 3.39
4 3.39
447.82 424.56
436.16 383.79
4.89 5.05
22.28 21.25
4.8 4.2
0.98 0.85
40 35
Subros
------------------- in Rs. Cr. -------------------
Cash Flow
Mar 19 Mar-18 Mar-17 Mar-16 Mar-15
12 mths 12 mths 12 mths 12 mths 12 mths
Net Profit/Loss Before Extraordinary Items 0 82.38 8.19 26.44 20.4

Net CashFlow From Operating Activities 0 315.55 110.82 149.17 142.69
Net Cash Used In Investing Activities 0 -230.64 -75.14 -67.77 -95.76
Net Cash Used From Financing Activities 0 -71.94 -34.61 -81.83 -47.86
Net Inc/Dec In Cash And Cash Equivalents 0 12.97 1.06 -0.43 -0.92
Cash And Cash Equivalents Begin of Year 0 2.01 0.95 1.38 2.3
Cash And Cash Equivalents End Of Year 0 14.98 2.01 0.95 1.38

Subros
------------------- in Rs. Cr. -------------------
Mar '19 Mar '18 Mar '17 Mar '16

Face Value 2 2 2 2
Dividend Per Share 1.3 1.1 0.5 0.8
Operating Profit Per Share (Rs) 34.96 35 27.97 25.35
Net Operating Profit Per Share (Rs) 325.59 318.88 255.87 217.86
Free Reserves Per Share (Rs) -- -- -- --
Bonus in Equity Capital -- 50 50 50
Operating Profit Margin(%) 10.73 10.97 10.92 11.63
Profit Before Interest And Tax Margin(%) 6.99 6.14 5.17 5.02
Gross Profit Margin(%) 7.02 6.16 5.2 5.03
Cash Profit Margin(%) 7.41 8.04 8.57 8.42
Adjusted Cash Margin(%) 7.41 8.04 8.57 8.42
Net Profit Margin(%) 3.58 3.16 0.86 1.83
Adjusted Net Profit Margin(%) 3.56 3.15 0.86 1.83
Return On Capital Employed(%) 18.37 17.41 12.91 10.77
Return On Net Worth(%) 11.19 14.97 3.83 7.15
Adjusted Return on Net Worth(%) 11.68 15.42 12.75 7.15
Return on Assets Excluding Revaluations 104.23 67.47 57.98 55.9
Return on Assets Including Revaluations 104.23 67.47 57.98 55.9
Return on Long Term Funds(%) 21.62 22.5 17.26 13

Current Ratio 0.78 0.59 0.6 0.79
Quick Ratio 0.69 0.49 0.57 0.56
Debt Equity Ratio 0.28 0.78 0.94 0.89
Long Term Debt Equity Ratio 0.08 0.38 0.45 0.56

Interest Cover 3.78 3.04 1.82 1.63
Total Debt to Owners Fund 0.28 0.78 0.94 0.89
Financial Charges Coverage Ratio 5.65 5.28 3.65 3.7
Financial Charges Coverage Ratio Post Tax 4.67 4.7 3.11 3.64

Inventory Turnover Ratio 8.52 8.22 8.48 8.4
Debtors Turnover Ratio 12.93 13.12 13.42 14.84
Investments Turnover Ratio 8.52 8.22 8.48 8.4
Fixed Assets Turnover Ratio 2.74 3.01 3.82 1.35
Total Assets Turnover Ratio 2.45 3.3 3 2.72
Asset Turnover Ratio 2.68 2.74 2.35 2.04
Average Raw Material Holding -- -- -- --
Average Finished Goods Held -- -- -- --
Number of Days In Working Capital 0.95 -28.03 -24.46 11.75

Material Cost Composition 69.9 69.76 69.76 69.71
Imported Composition of Raw Materials Consume -- -- -- 50.66
Selling Distribution Cost Composition -- -- -- --
Expenses as Composition of Total Sales -- 0.02 0.02 0.01

Dividend Payout Ratio Net Profit -- 4.94 35.98 19.99
Dividend Payout Ratio Cash Profit -- 1.96 4.74 4.34
Earning Retention Ratio 100 95.2 89.19 80.01
Cash Earning Retention Ratio 100 98.06 96.38 95.66
AdjustedCash Flow Times 1.19 2.04 2.47 2.69

-----------
Mar '15
2
0.7
22.8
199.56
--
50
11.42
4.84
4.85
8.26
8.26
1.69
1.69
9.09
6.4
6.4
52.87
52.87
11.12
0.7
0.53
1.05
0.68
1.53
1.05
3.56
3.56
7.71
17.35
7.71
1.33
2.27
1.86
--
--
15.11
69.71
52.52
--
--
20.66
4.24
79.34
95.76
3.36
Subros
------------------- in Rs. Cr. -------------------
Mar '19 Sep '18 Mar '18 Sep '17
Net Sales/Income from operations 1,028.76 1,095.72 1,000.92 911.97

Other Operating Income -- -- -- --
Total Income From Operations 1,028.76 1,095.72 1,000.92 911.97
EXPENDITURE
Consumption of Raw Materials 707.5 777.53 682.75 651.75
Purchase of Traded Goods -- -- -- --
Increase/Decrease in Stocks 6.72 -7.7 9.25 -8.8
Power & Fuel -- -- -- --
Employees Cost 100.27 106.19 101.88 86.24
Depreciation 40.18 38.67 48.15 43.85
Excise Duty -- -- -- --
Admin. And Selling Expenses -- -- -- --
R & D Expenses -- -- -- --
Provisions And Contingencies -- -- -- --
Exp. Capitalised -- -- -- --
Other Expenses 102.47 103.4 95.7 84.14
P/L Before Other Inc. , Int., Excpt. Items & Ta 71.62 77.63 63.19 54.79
Other Income 0.38 9.87 3.95 3.48
P/L Before Int., Excpt. Items & Tax 72 87.5 67.14 58.27
Interest 14.83 27.36 21.61 19.6
P/L Before Exceptional Items & Tax 57.17 60.14 45.53 38.67
Exceptional Items -- -3.34 -- -1.82
P/L Before Tax 57.17 56.8 45.53 36.85
Tax 23.78 14.06 10.51 11.25
P/L After Tax from Ordinary Activities 33.39 42.74 35.02 25.6
Prior Year Adjustments -- -- -- --
Extra Ordinary Items -- -- -- --
Net Profit/(Loss) For the Period 33.39 42.74 35.02 25.6
Equity Share Capital 13.05 12 12 12

Reserves Excluding Revaluation Reserves -- -- -- --
Equity Dividend Rate (%) -- -- -- --

Basic EPS -- 7.12 -- 4.27
Diluted EPS -- 7.12 -- 4.27

Basic EPS -- 7.12 -- 4.27
Diluted EPS -- 7.12 -- 4.27

--------
Mar '17
783.68
3.93
787.61
531.83
--
5.79
--
79.41
42.86
--
--
--
--
--
83.15
44.57
-0.17
44.4
21.63
22.77
-14.7
8.07
-2.43
10.5
--
--
10.5
12
--
--
--
--
--
--
Jamna Auto Industries
------------------- in Rs. Cr. -------------------

SHAREHOLDER'S FUNDS
Equity Share Capital 39.83 39.83 39.83
Total Share Capital 39.83 39.83 39.83
Reserves and Surplus 474.67 386.69 295.37

Total Reserves and Surplus 474.67 386.69 295.37
Total Shareholders Funds 514.5 426.52 335.2
Equity Share Application Money 0 0 0
Long Term Borrowings 1.5 22.51 7.8
Deferred Tax Liabilities [Net] 0 0 0
Other Long Term Liabilities 13.07 15.08 15.15
Long Term Provisions 15.08 10.75 6.98
Total Non-Current Liabilities 29.65 48.33 29.93
CURRENT LIABILITIES
Short Term Borrowings 0 22.51 52.28
Trade Payables 331.5 155.96 63.5
Other Current Liabilities 52.9 50.14 28.66
Short Term Provisions 30.74 30.37 23.03
Total Current Liabilities 415.14 258.98 167.46
Total Capital And Liabilities 959.29 733.83 532.59
ASSETS
NON-CURRENT ASSETS
Tangible Assets 393.36 271.67 266.09
Intangible Assets 0 0.64 0.52
Capital Work-In-Progress 0 30.79 8.05
Fixed Assets 393.36 303.1 274.66
Non-Current Investments 0.47 12.65 25.92

Deferred Tax Assets [Net] 9.36 6.27 1.22
Long Term Loans And Advances 13.06 9.33 0
Other Non-Current Assets 49.71 20.57 55.24
Total Non-Current Assets 465.97 351.92 357.04
CURRENT ASSETS
Inventories 198.93 145.84 87.1
Trade Receivables 231.75 175.78 48.29
Cash And Cash Equivalents 24.18 9.45 8.3
Short Term Loans And Advances 1.33 1.41 0.66
OtherCurrentAssets 37.13 49.42 31.21
Total Current Assets 493.33 381.91 175.56
Total Assets 959.29 733.83 532.59

Contingent Liabilities 0 207.1 113.16
Raw Materials 0 0 0
Stores, Spares And Loose Tools 0 0 0
Capital Goods 0 0 0
Expenditure In Foreign Currency 0 72.24 48.89
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS

Dividend Remittance In Foreign Currency - - -
FOB Value Of Goods - 13.03 9.57
Other Earnings - - -
BONUS DETAILS
Bonus Equity Share Capital - - -
Non-Current Investments Quoted Market Value - - -
Non-Current Investments Unquoted Book Value - 0.47 0.47
CURRENT INVESTMENTS
Current Investments Quoted Market Value - - -
Current Investments Unquoted Book Value - - -

s
n Rs. Cr. -------------------
Mar-16 Mar-15
12 mths 12 mths
39.72 39.62
39.72 39.62
205.85 159.37
205.85 159.37
245.57 198.99
0.36 0
5.18 24.93
5.68 15.91
0.07 0.07
5.02 3.93
15.95 44.83
4.3 0.97
143.47 175.35
15.4 42.91
43.08 10.94
206.24 230.17
468.13 474
202.12 233.18
0.47 0.69
56.36 6.85
258.95 240.72
15.21 21.13
0 0
33.86 31.69
0.52 0.41
308.54 293.95
81.86 82.55
58.77 70.99
5.54 6.04
13.4 20.03
0.01 0.44
159.58 180.05
468.13 474
97.62 88.51
158.05 35.08
0.2 0.05
20.77 0.47
2.3 2.29
0.26 -
9.15 10.39
- -
- -
- -
15.21 21.13
- -
- -
------------------- in Rs. Cr. -------------------
INCOME
Revenue From Operations [Gross] 2,045.53 1,601.30 1,204.09 1,211.33
Less: Excise/Sevice Tax/Other Levies 0 22.29 142.33 140.7
Revenue From Operations [Net] 2,045.53 1,579.00 1,061.76 1,070.63
Other Operating Revenues 0 29.55 19.78 20.92
Total Operating Revenues 2,045.53 1,608.55 1,081.54 1,091.55
Other Income 36.46 39.05 41.53 42.34
Total Revenue 2,082.00 1,647.60 1,123.08 1,133.89
EXPENSES
Cost Of Materials Consumed 1,392.23 1,034.07 657.13 723.54
Changes In Inventories Of FG,WIP And Stock-In Trade -56.48 -7.61 -10.71 -5.2
Employee Benefit Expenses 150.25 121.47 95.01 82.03
Finance Costs 21.64 15.31 10.76 13.65
Depreciation And Amortisation Expenses 44.11 39.41 46.39 43.88
Other Expenses 326.92 269.95 193.48 181.49
Total Expenses 1,878.67 1,472.60 992.08 1,039.40
Mar-19 Mar-18 Mar-17 Mar-16

Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 203.32 174.99 131 94.49
Profit/Loss Before Tax 203.32 174.99 131 94.49
Current Tax 63.54 54 33.63 21.79
Less: MAT Credit Entitlement 0 0 0 -9.6
Deferred Tax 0 -4.36 -6.67 -10.23
Total Tax Expenses 63.54 49.65 26.95 21.16
Profit/Loss After Tax And Before ExtraOrdinary Items 139.78 125.34 104.05 73.34
Prior Period Items 0 0 0 -1.01
Profit/Loss From Continuing Operations 139.78 125.34 104.05 72.32
Profit/Loss For The Period 139.78 125.34 104.05 72.32
Mar-19 Mar-18 Mar-17 Mar-16


EARNINGS PER SHARE
Basic EPS (Rs.) 3.51 3.15 2.61 9.11
Diluted EPS (Rs.) 3.51 3.14 2.61 9.06

Imported Raw Materials 0 0 0 170.72
Indigenous Raw Materials 0 0 0 552.82

Imported Stores And Spares 0 0 0 0.2
Indigenous Stores And Spares 0 0 0 38.6

Equity Share Dividend 0 27.88 33.84 21.85
Preference Share Dividend 0 0 0 0
Tax On Dividend 0 5.68 6.89 4.45
Equity Dividend Rate (%) 95 85 70 55

-------------
Mar-15
12 mths
1,074.95
119.53
955.42
23.79
979.21
24.38
1,003.60
697.27
-9.51
59.41
16.88
29.29
170.43
963.78
Mar-15
12 mths
39.82
39.82
3.7
-3.84
2.84
10.38
29.44
0
29.44
29.44
Mar-15
12 mths
7.41
7.35
22.89
674.38
0.16
32.75
8.72
0.11
1.8
22
------------------- in Rs. Cr. -------------------
Cash Flow
Net Profit/Loss Before Extraordinary Items And Tax 0 0 174.99 131

Net CashFlow From Operating Activities 0 0 81.59 41.85
Net Cash Used In Investing Activities 0 0 -20.41 -43.33
Net Cash Used From Financing Activities 0 0 -60.35 4.43
Net Inc/Dec In Cash And Cash Equivalents 0 0 0.84 2.94

Cash And Cash Equivalents Begin of Year 0 0 6.12 3.18
Cash And Cash Equivalents End Of Year 0 0 6.96 6.12

--------
Mar-16
12 mths
93.48
89.4
-24.58
-64.62
0.2
3.98
4.18
------------------- in Rs. Cr. -------------------
Mar '19 Mar '18 Mar '17 Mar '16

Face Value 1 1 5 5
Dividend Per Share 0.95 0.85 3.5 2.75
Operating Profit Per Share (Rs) 5.84 4.79 18.4 13.81
Net Operating Profit Per Share (Rs) 51.35 40.37 135.73 137.45
Free Reserves Per Share (Rs) -- -- -- --
Bonus in Equity Capital -- -- -- --
Operating Profit Margin(%) 11.37 11.85 13.55 10.04
Profit Before Interest And Tax Margin(%) 9.05 9.18 8.92 5.8
Gross Profit Margin(%) 9.21 9.4 9.26 6.02
Cash Profit Margin(%) 8.83 9.99 13.39 10.33
Adjusted Cash Margin(%) 8.83 9.99 13.39 10.33
Net Profit Margin(%) 6.83 7.79 9.62 6.62
Adjusted Net Profit Margin(%) 6.71 7.6 9.26 6.37
Return On Capital Employed(%) 43.59 40.35 35.86 42.33
Return On Net Worth(%) 27.16 29.38 31.04 29.45
Adjusted Return on Net Worth(%) 27.16 29.38 31.04 29.86
Return on Assets Excluding Revaluations 12.92 10.7 42.07 30.92
Return on Assets Including Revaluations 12.92 10.7 42.07 30.92
Return on Long Term Funds(%) 43.59 42.38 41.33 43.12

Current Ratio 1.28 1.36 0.96 0.88
Quick Ratio 0.81 1.01 1.05 0.53
Debt Equity Ratio -- 0.11 0.18 0.04
Long Term Debt Equity Ratio -- 0.05 0.02 0.02

Interest Cover 10.39 12.43 13.17 7.92
Total Debt to Owners Fund 0 0.11 0.18 0.04
Financial Charges Coverage Ratio 12.43 15 17.48 11.14
Financial Charges Coverage Ratio Post Tax 9.5 11.76 14.98 9.52

Inventory Turnover Ratio 10.28 11.18 14.05 15.05
Debtors Turnover Ratio 10.04 14.36 20.21 16.82
Investments Turnover Ratio 10.28 11.18 14.05 15.05
Fixed Assets Turnover Ratio 5.2 4.7 3.54 2.57
Total Assets Turnover Ratio 3.96 3.42 2.74 5.5
Asset Turnover Ratio 4.14 3.71 3.32 4.55
Average Raw Material Holding -- -- -- --
Average Finished Goods Held -- -- -- --
Number of Days In Working Capital 4.6 18.03 2.34 -4.53

Material Cost Composition 68.06 67.42 64.4 69.84
Imported Composition of Raw Materials -- -- -- 23.59
Selling Distribution Cost Composition -- 0.33 0.15 0.11
Expenses as Composition of Total Sales -- 0.81 0.88 0.83

Dividend Payout Ratio Net Profit -- 22.24 32.52 30.2
Dividend Payout Ratio Cash Profit -- 16.92 22.49 18.8
Earning Retention Ratio 100 77.76 67.48 70.21
Cash Earning Retention Ratio 100 83.08 77.51 81.37
AdjustedCash Flow Times 0.01 0.27 0.4 0.08

---------
Mar '15
10
2.2
15.55
247.22
--
--
6.29
3.21
3.29
5.85
5.85
3
2.93
25.2
14.73
14.73
50.24
50.24
25.31
0.85
0.52
0.13
0.13
3.36
0.13
5.09
4.48
13.31
11.14
13.31
2.35
4.37
4.09
--
--
-8.14
74.56
3.28
--
1.06
29.72
14.87
70.28
85.13
0.44
------------------- in Rs. Cr. -------------------
Mar '19 Sep '18 Mar '18 Sep '17 Mar '17
Net Sales/Income from operations 978.11 1,072.29 1,001.43 597.81 543.34

Other Operating Income -- -- -- -- 5.24
Total Income From Operations 978.11 1,072.29 1,001.43 597.81 548.58
EXPENDITURE
Consumption of Raw Materials 631.95 760.7 643.3 390.77 308.76
Purchase of Traded Goods -- -- -- -- --
Increase/Decrease in Stocks -7.08 -49.4 11.82 -19.43 28.49
Power & Fuel -- -- 53.16 35.71 31.28
Employees Cost 74.17 76.08 67.8 53.66 47.26
Depreciation 23.05 21.06 23.45 15.97 18.62
Excise Duty -- -- -- -- --
Admin. And Selling Expenses -- -- -- -- --
R & D Expenses -- -- -- -- --
Provisions And Contingencies -- -- -- -- --
Exp. Capitalised -- -- -- -- --
Other Expenses 160.18 172 102.15 70.41 65.01
P/L Before Other Inc. , Int., Excpt. Items & Ta 95.84 91.86 99.75 50.73 49.17
Other Income 12.22 25.06 20.98 20.44 27.57
P/L Before Int., Excpt. Items & Tax 108.05 116.91 120.73 71.17 76.73
Interest 11.87 9.78 10.77 6.13 4.65
P/L Before Exceptional Items & Tax 96.19 107.14 109.95 65.04 72.08
Exceptional Items -- -- -- -- --
P/L Before Tax 96.19 107.14 109.95 65.04 72.08
Tax 33.04 30.5 31.89 17.76 16.6
P/L After Tax from Ordinary Activities 63.14 76.64 78.06 47.28 55.48
Prior Year Adjustments -- -- -- -- --
Extra Ordinary Items -- -- -- -- --
Net Profit/(Loss) For the Period 63.14 76.64 78.06 47.28 55.48
Equity Share Capital 39.83 39.83 39.83 39.84 39.83

Reserves Excluding Revaluation Reserves -- -- -- -- --
Equity Dividend Rate (%) -- -- -- -- --

Basic EPS -- 1.92 -- 1.18 --
Diluted EPS -- 1.92 -- 1.18 --

Basic EPS -- 1.92 -- 1.18 --
Diluted EPS -- 1.92 -- 1.18 --

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Tata Motors

------------------- in Rs. Cr. -------------------

Total Shareholders Funds 22,162.52 20,170.98 21,162.61 23,262.11

Total Capital And Liabilities 60,909.63 59,212.30 58,878.28 56,676.00

Non-Current Investments 15,434.19 14,260.79 14,858.39 15,217.48

Total Assets 60,909.63 59,212.30 58,878.28 56,676.00

OTHER ADDITIONAL INFORMATION

Source: Money Control

Total Revenue 71,757.42 60,389.01 45,297.40

Total Expenses 69,155.42 60,369.27 47,311.96

Mar-19 Mar-18 Mar-17

Profit/Loss For The Period 2,020.60 -1,034.85 -2,429.60

Mar-19 Mar-18 Mar-17

Source : Money Control

Net Inc/Dec In Cash And Cash Equivalents -59.42 0 317.88 317.88

Cash And Cash Equivalents End Of Year 487.4 0 546.82 546.82

Source : Money Control

------------------- in Rs. Cr. -------------------

Investment Valuation Ratios

Liquidity And Solvency Ratios

Debt Coverage Ratios

Management Efficiency Ratios

Cash Flow Indicator Ratios

Source : Money Control

------------------- in Rs. Cr. -------------------

Net Sales/Income from operations 34,528.42 34,236.46 35,880.92

Total Income From Operations 34,769.08 34,433.68 35,880.92

Net Profit/(Loss) For the Period 723.81 1,296.79 -316.29

Equity Share Capital 679.22 679.22 679.22

Source: Money Control

EQUITIES AND LIABILITIES

Reserves and Surplus 667.08 392.77 335.81

Total Shareholders Funds 680.13 404.77 347.81

Total Capital And Liabilities 1,380.59 1,297.86 1,125.59

Fixed Assets 776.03 759.5 646.32

Non-Current Investments 2.29 2.5 2.5

Total Non-Current Assets 823.72 812.83 699.72

Total Assets 1,380.59 1,297.86 1,125.59

OTHER ADDITIONAL INFORMATION

REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS

Source : Money Control

Total Revenue 2,134.73 1,920.32 1,542.19

Total Expenses 2,017.42 1,836.12 1,502.97

Mar-19 Mar-18 Mar-17

Profit/Loss For The Period 76.13 60.62 13.34

Mar-19 Mar-18 Mar-17

OTHER ADDITIONAL INFORMATION

Source : Money Control

Net Profit/Loss Before Extraordinary Items 0 82.38 8.19 26.44 20.4

Source : Money Control

Investment Valuation Ratios

Liquidity And Solvency Ratios

Debt Coverage Ratios

Management Efficiency Ratios

Profit & Loss Account Ratios

Cash Flow Indicator Ratios

Source : Money Control

Net Sales/Income from operations 1,028.76 1,095.72 1,000.92 911.97

Total Income From Operations 1,028.76 1,095.72 1,000.92 911.97

Net Profit/(Loss) For the Period 33.39 42.74 35.02 25.6

Equity Share Capital 13.05 12 12 12

EPS Before Extra Ordinary

EPS After Extra Ordinary