EX-99.4 5 ttm-ex994_8.htm EX-99.4 ttm-ex994_8.htm

 

News Release – 4

Exhibit 99.4

 

October 31, 2018

 

Consolidated Financial Results

 

TATA MOTORS LIMITED

Regd.Office : Bombay House, 24, Homi Mody Street, Mumbai 400 001.

CIN L28920MH1945PLC004520

( in crores)

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2018

 

 

 

Quarter ended

 

 

Six months ended

 

 

Year ended

 

Particulars

 

September 30,

 

 

June 30,

 

 

September 30,

 

 

September 30,

 

 

March 31,

 

 

 

 

2018

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

2018

 

 

 

 

Unaudited

 

 

Audited

 

I

Revenue from operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Revenue (refer note 2a)

 

 

71,292.79

 

 

 

65,956.78

 

 

 

69,569.93

 

 

 

137,249.57

 

 

 

128,336.00

 

 

 

289,386.25

 

 

(b) Other operating income

 

 

819.29

 

 

 

744.27

 

 

 

268.75

 

 

 

1,563.56

 

 

 

960.73

 

 

 

3,342.13

 

 

Total Revenue from Operations (a)+(b)

 

 

72,112.08

 

 

 

66,701.05

 

 

 

69,838.68

 

 

 

138,813.13

 

 

 

129,296.73

 

 

 

292,728.38

 

II

Other income (includes Government grants)

 

 

617.22

 

 

 

605.01

 

 

 

506.08

 

 

 

1,222.23

 

 

 

1,020.36

 

 

 

3,569.85

 

III

Total Income (I + II)

 

 

72,729.30

 

 

 

67,306.06

 

 

 

70,344.76

 

 

 

140,035.36

 

 

 

130,317.09

 

 

 

296,298.23

 

IV

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)   Cost of materials consumed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  (i) Cost of materials consumed

 

 

44,921.05

 

 

 

43,217.86

 

 

 

40,569.02

 

 

 

88,138.91

 

 

 

77,116.45

 

 

 

173,371.19

 

 

  (ii)  Basis adjustment on hedge accounted derivatives

 

 

(414.26

)

 

 

(429.46

)

 

 

(420.75

)

 

 

(843.72

)

 

 

(720.54

)

 

 

(1,378.60

)

 

(b)   Purchase of products for sale

 

 

4,608.77

 

 

 

4,450.39

 

 

 

3,670.49

 

 

 

9,059.16

 

 

 

7,026.71

 

 

 

15,903.99

 

 

(c)   Changes in inventories of finished goods, work-in-progress and products for sale

 

 

(3,156.84

)

 

 

(4,211.88

)

 

 

1,068.01

 

 

 

(7,368.72

)

 

 

(1,960.10

)

 

 

(2,046.58

)

 

(d)   Excise duty (refer note 2b)

 

 

-

 

 

 

-

 

 

 

(534.69

)

 

 

-

 

 

 

790.16

 

 

 

790.16

 

 

(e)   Employee benefits expense

 

 

8,212.35

 

 

 

8,523.21

 

 

 

7,256.33

 

 

 

16,735.56

 

 

 

14,371.55

 

 

 

30,300.09

 

 

(f)   Finance costs

 

 

1,226.86

 

 

 

1,375.27

 

 

 

1,147.34

 

 

 

2,602.13

 

 

 

2,256.19

 

 

 

4,681.79

 

 

(g)   Foreign exchange (gain)/loss (net)

 

 

499.87

 

 

 

1,007.26

 

 

 

(71.47

)

 

 

1,507.13

 

 

 

(702.73

)

 

 

(1,185.28

)

 

(h)   Depreciation and amortisation expense

 

 

5,941.20

 

 

 

5,857.13

 

 

 

4,969.88

 

 

 

11,798.33

 

 

 

9,494.44

 

 

 

21,553.59

 

 

(i) Product development/Engineering expenses

 

 

1,068.48

 

 

 

950.53

 

 

 

765.03

 

 

 

2,019.01

 

 

 

1,577.47

 

 

 

3,531.87

 

 

(j) Other expenses

 

 

15,263.09

 

 

 

14,262.84

 

 

 

13,216.17

 

 

 

29,525.93

 

 

 

26,190.39

 

 

 

60,184.21

 

 

(k)   Amount capitalised

 

 

(5,148.12

)

 

 

(5,112.86

)

 

 

(4,371.97

)

 

 

(10,260.98

)

 

 

(8,321.06

)

 

 

(18,588.09

)

 

Total expenses (IV)

 

 

73,022.45

 

 

 

69,890.29

 

 

 

67,263.39

 

 

 

142,912.74

 

 

 

127,118.93

 

 

 

287,118.34

 

V

Profit/(loss) before exceptional items and tax (III - IV)

 

 

(293.15

)

 

 

(2,584.23

)

 

 

3,081.37

 

 

 

(2,877.38

)

 

 

3,198.16

 

 

 

9,179.89

 

VI

Exceptional Items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

(a)   Defined benefit pension plan amendment past service credit

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(3,609.01

)

 

 

(3,609.01

)

 

(b)   Employee separation cost

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

3.68

 

 

(c)   Provision for/ impairment of capital work-in-progress and intangibles under development

 

 

93.21

 

 

 

-

 

 

 

-

 

 

 

93.21

 

 

 

-

 

 

 

1,641.38

 

 

(d)  Provision for costs of closure of operation of a subsidary (refer note 6)

 

 

437.08

 

 

 

-

 

 

 

-

 

 

 

437.08

 

 

 

-

 

 

 

-

 

 

(e)   Others

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(11.19

)

 

 

(11.19

)

VII

Profit/(loss) before tax (V - VI)

 

 

(823.44

)

 

 

(2,584.23

)

 

 

3,081.37

 

 

 

(3,407.67

)

 

 

6,818.36

 

 

 

11,155.03

 

VIII

Tax expense/(credit) (net)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)   Current tax

 

 

550.88

 

 

 

710.07

 

 

 

1,242.88

 

 

 

1,260.95

 

 

 

1,979.46

 

 

 

3,303.46

 

 

(b)   Deferred tax

 

 

(278.98

)

 

 

(1,125.70

)

 

 

(153.10

)

 

 

(1,404.68

)

 

 

317.76

 

 

 

1,038.47

 

 

Total tax expense (net)

 

 

271.90

 

 

 

(415.63

)

 

 

1,089.78

 

 

 

(143.73

)

 

 

2,297.22

 

 

 

4,341.93

 

IX

Profit/(loss) for the period/year from continuing operations (VII - VIII)

 

 

(1,095.34

)

 

 

(2,168.60

)

 

 

1,991.59

 

 

 

(3,263.94

)

 

 

4,521.14

 

 

 

6,813.10

 

X

Share of profit of joint ventures and associates (net)

 

 

85.85

 

 

 

306.03

 

 

 

510.08

 

 

 

391.88

 

 

 

1,180.46

 

 

 

2,278.26

 

XI

Profit/(loss) for the period/year (IX + X)

 

 

(1,009.49

)

 

 

(1,862.57

)

 

 

2,501.67

 

 

 

(2,872.06

)

 

 

5,701.60

 

 

 

9,091.36

 

 

Attributable to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)   Shareholders of the Company

 

 

(1,048.80

)

 

 

(1,902.37

)

 

 

2,482.78

 

 

 

(2,951.17

)

 

 

5,665.04

 

 

 

8,988.91

 

 

(b)   Non-controlling interests

 

 

39.31

 

 

 

39.80

 

 

 

18.89

 

 

 

79.11

 

 

 

36.56

 

 

 

102.45

 

XII

Other comprehensive income/(loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(A)  (i) Items that will not be reclassified to profit or loss

 

 

(1,085.06

)

 

 

2,954.51

 

 

 

945.96

 

 

 

1,869.45

 

 

 

1,215.45

 

 

 

5,939.95

 

 

   (ii) Income tax(expense)/credit relating to items that will not be reclassified to profit or loss

 

 

199.94

 

 

 

(530.49

)

 

 

(157.23

)

 

 

(330.55

)

 

 

(230.26

)

 

 

(991.02

)

 

(B)  (i) Items that will be reclassified to profit or loss

 

 

6,045.25

 

 

 

(4,520.05

)

 

 

7,555.13

 

 

 

1,525.20

 

 

 

17,313.62

 

 

 

28,017.27

 

 

   (ii) Income tax (expense)/credit relating to items that will be reclassified to profit or loss

 

 

(313.51

)

 

 

466.67

 

 

 

(853.13

)

 

 

153.16

 

 

 

(2,323.59

)

 

 

(3,403.69

)

 

Total other comprehensive income/(loss)

 

 

4,846.62

 

 

 

(1,629.36

)

 

 

7,490.73

 

 

 

3,217.26

 

 

 

15,975.22

 

 

 

29,562.51

 

XIII

Total comprehensive income/(loss) for the period (net of tax) (XI + XII)

 

 

3,837.13

 

 

 

(3,491.93

)

 

 

9,992.40

 

 

 

345.20

 

 

 

21,676.82

 

 

 

38,653.87

 

 

Attributable to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)   Shareholders of the Company

 

 

3,781.19

 

 

 

(3,532.58

)

 

 

9,956.42

 

 

 

248.61

 

 

 

21,623.12

 

 

 

38,524.52

 

 

(b)   Non-controlling interests

 

 

55.94

 

 

 

40.65

 

 

 

35.98

 

 

 

96.59

 

 

 

53.70

 

 

 

129.35

 

XIV

Paid-up equity share capital (face value of ₹ 2 each)

 

 

679.22

 

 

 

679.22

 

 

 

679.22

 

 

 

679.22

 

 

 

679.22

 

 

 

679.22

 

XV

Reserves excluding revaluation reserves (as per Balance Sheet of previous accounting year)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

94,725.82

 

XVI

Earnings per share (EPS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A. Ordinary shares (face value of ₹ 2 each)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)   Basic EPS

 

(3.09

)

 

 

(5.60

)

 

 

7.30

 

 

 

(8.69

)

 

 

16.67

 

 

 

26.46

 

 

(b)   Diluted EPS

 

(3.09

)

 

 

(5.60

)

 

 

7.29

 

 

 

(8.69

)

 

 

16.66

 

 

 

26.45

 

 

B. ‘A’ Ordinary shares (face value of ₹ 2 each)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)   Basic EPS

 

(3.09

)

 

 

(5.60

)

 

 

7.40

 

 

 

(8.69

)

 

 

16.77

 

 

 

26.56

 

 

(b)   Diluted EPS

 

(3.09

)

 

 

(5.60

)

 

 

7.39

 

 

 

(8.69

)

 

 

16.76

 

 

 

26.55

 

 

 

 

Not annualised

 

 

 

 

 

 

 


 

Statement of Consolidated Assets and Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

(₹ in crores)

 

 

As at September 30,

 

 

As at March 31,

 

 

2018

 

 

2018

 

 

Unaudited

 

 

Audited

 

I    ASSETS

 

 

 

 

 

 

 

(1) Non-current assets

 

 

 

 

 

 

 

     (a) Property, plant and equipment

 

80,425.37

 

 

 

73,867.84

 

     (b) Capital work-in-progress

 

13,114.11

 

 

 

16,142.94

 

     (c) Goodwill

 

116.96

 

 

 

116.45

 

     (d) Other intangible assets

 

45,887.75

 

 

 

47,429.57

 

     (e)  Intangible assets under development

 

30,303.94

 

 

 

23,890.56

 

     (f) Investment in equity accounted investees

 

5,073.37

 

 

 

4,887.89

 

     (g) Financial assets

 

 

 

 

 

 

 

           (i) Other investments

 

910.43

 

 

 

763.76

 

           (ii) Finance receivables

 

18,819.08

 

 

 

15,479.53

 

           (iii) Loans and advances

 

463.13

 

 

 

495.41

 

           (iv) Other financial assets

 

3,752.59

 

 

 

4,563.87

 

     (h) Deferred tax assets (net)

 

4,770.31

 

 

 

4,158.70

 

     (i) Non-current tax assets (net)

 

878.75

 

 

 

899.90

 

      (j) Other non-current assets

 

3,717.69

 

 

 

2,681.25

 

 

 

208,233.48

 

 

 

195,377.67

 

(2) Current assets

 

 

 

 

 

 

 

   (a) Inventories

 

51,125.47

 

 

 

42,137.63

 

   (b) Investment in equity accounted investees (held for sale)

 

544.57

 

 

 

497.35

 

   (c)  Financial assets

 

 

 

 

 

 

 

           (i) Other investments

 

10,690.72

 

 

 

14,663.75

 

           (ii) Trade receivables

 

17,865.98

 

 

 

19,893.30

 

           (iii) Cash and cash equivalents

 

12,743.22

 

 

 

14,716.75

 

           (iv) Bank balances other than (iii) above

 

8,375.05

 

 

 

19,897.16

 

           (v) Finance receivables

 

9,593.51

 

 

 

8,401.65

 

           (vi) Loans and advances

 

2,094.77

 

 

 

2,279.66

 

           (vii) Other financial assets

 

3,757.84

 

 

 

3,029.12

 

   (d) Current tax assets (net)

 

249.11

 

 

 

208.91

 

   (e) Assets classified as held-for-sale

 

2,960.84

 

 

 

2,585.19

 

   (f) Other current assets

 

8,133.74

 

 

 

7,662.37

 

 

 

128,134.82

 

 

 

135,972.84

 

TOTAL ASSETS

 

336,368.30

 

 

 

331,350.51

 

II.   EQUITY AND LIABILITIES

 

 

 

 

 

 

 

  Equity

 

 

 

 

 

 

 

   (a)  Equity share capital

 

679.22

 

 

 

679.22

 

   (b) Other equity

 

94,410.03

 

 

 

94,748.69

 

         Equity attributable to owners of Tata Motors Ltd

 

95,089.25

 

 

 

95,427.91

 

         Non-controlling interests

 

549.87

 

 

 

525.06

 

 

 

95,639.12

 

 

 

95,952.97

 

  Liabilities

 

 

 

 

 

 

 

(1) Non-current liabilities

 

 

 

 

 

 

 

   (a) Financial liabilities

 

 

 

 

 

 

 

            (i) Borrowings

 

71,968.24

 

 

 

61,199.50

 

            (ii) Other financial liabilities

 

2,636.12

 

 

 

2,739.14

 

   (b) Provisions

 

11,858.89

 

 

 

10,948.44

 

   (c)  Deferred tax liabilities (net)

 

5,358.39

 

 

 

6,125.80

 

   (d) Other non-current liabilities

 

9,900.85

 

 

 

11,165.19

 

 

 

101,722.49

 

 

 

92,178.07

 

(2) Current liabilities

 

 

 

 

 

 

 

   (a)  Financial liabilities

 

 

 

 

 

 

 

       (i) Borrowings

 

20,954.96

 

 

 

16,794.85

 

       (ii) Trade payables

 

66,890.44

 

 

 

72,038.41

 

      (iii) Acceptances

 

3,675.21

 

 

 

4,901.42

 

      (iv) Other financial liabilities

 

28,556.68

 

 

 

31,267.49

 

   (b)  Provisions

 

8,284.41

 

 

 

7,953.50

 

   (c)  Current tax liabilities (net)

 

929.06

 

 

 

1,559.07

 

   (d)  Liabilities directly associated with assets classified as held-for-sale

 

1,220.28

 

 

 

1,070.18

 

   (e) Other current liabilities

 

8,495.65

 

 

 

7,634.55

 

 

 

139,006.69

 

 

 

143,219.47

 

TOTAL EQUITY & LIABILITIES

 

336,368.30

 

 

 

331,350.51

 


Segment wise Revenue, Results, Assets and Liabilities

The Company primarily operates in the automotive segment. The automotive segment includes all activities relating to development, design, manufacture, assembly and sale of vehicles including financing thereof, as well as sale of related parts and accessories. The Company provides financing for vehicles sold by dealers in India.

A core recent initiative of the Company was the implementation of the Organization Effectiveness (OE) program, a strategic program designed to overhaul and transform the Company. Pursuant to the changes implemented as a result of the OE program, the Company has drawn separate strategies for commercial vehicles, passenger vehicles and financing business from Fiscal 2019. Consequent to these changes, the automotive segments will have the following four reportable segments commencing fiscal 2019:

a) Automotive: The Automotive segment will consist of four reportable sub-segments: Tata Commercial Vehicles, Tata Passenger Vehicles, Jaguar Land Rover and Tata Motor Finance.

 

b) Others: Others will consist of IT services and machine tools and factory automation solutions.

 

This segment information is provided to and reviewed by Chief Operating Decision Maker (CODM).

 

The reportable segment information for the corresponding previous preiods reported have been changed to make them comparable.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( ₹  in crores)

 

 

 

 

Quarter ended

 

 

Six months ended

 

 

Year ended

 

Particulars

 

September 30,

 

 

June 30,

 

 

September 30,

 

 

September 30,

 

 

March 31,

 

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

2018

 

 

 

 

Unaudited

 

 

Audited

 

A.

Segment Revenue :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue from operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I.

Automotive and related activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Tata and other brands vehicles

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      (a) Commercial Vehicle

 

 

15,056.93

 

 

 

13,869.17

 

 

 

11,507.80

 

 

 

28,926.10

 

 

 

20,753.85

 

 

 

49,373.55

 

 

      (b) Passenger Vehicle

 

 

3,406.98

 

 

 

3,398.35

 

 

 

2,741.54

 

 

 

6,805.33

 

 

 

5,078.62

 

 

 

13,342.04

 

 

      (c) Corporate/Unallocable

 

 

37.85

 

 

 

22.75

 

 

 

22.57

 

 

 

60.60

 

 

 

71.82

 

 

 

169.69

 

 

- Financing

 

 

947.06

 

 

 

733.09

 

 

 

666.28

 

 

 

1,680.15

 

 

 

1,297.46

 

 

 

2,800.22

 

 

- Jaguar and Land Rover

 

 

52,082.28

 

 

 

48,215.12

 

 

 

54,510.36

 

 

 

100,297.40

 

 

 

101,317.27

 

 

 

225,218.79

 

 

Less: Intra segment eliminations

 

 

(35.60

)

 

 

(17.28

)

 

 

(42.68

)

 

 

(52.88

)

 

 

(83.56

)

 

 

(131.91

)

 

-Total

 

 

71,495.50

 

 

 

66,221.20

 

 

 

69,405.87

 

 

 

137,716.70

 

 

 

128,435.46

 

 

 

290,772.38

 

II.

Others

 

 

945.95

 

 

 

870.55

 

 

 

762.14

 

 

 

1,816.50

 

 

 

1,490.77

 

 

 

3,252.36

 

 

Total Segment Revenue

 

 

72,441.45

 

 

 

67,091.75

 

 

 

70,168.01

 

 

 

139,533.20

 

 

 

129,926.23

 

 

 

294,024.74

 

 

Less: Inter segment revenue

 

 

(329.37

)

 

 

(390.70

)

 

 

(329.33

)

 

 

(720.07

)

 

 

(629.50

)

 

 

(1,296.36

)

 

Revenue from Operations

 

 

72,112.08

 

 

 

66,701.05

 

 

 

69,838.68

 

 

 

138,813.13

 

 

 

129,296.73

 

 

 

292,728.38

 

B.

Segment results before other income (excluding Government grants), finance costs, foreign exchange gain/(loss) (net), exceptional items and tax :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I.

Automotive and related activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Tata and other brands vehicles

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      (a) Commercial Vehicle

 

 

1,193.49