Tata Motors Financial Statements

Tata Motors Annually Results

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Y/e 31 Mar Mar-2021 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (15) 9.24 (1.20) 3.76
Op profit growth (6.50) 16.70 (19) (6.50)
EBIT growth (18) 11.40 (40) (22)
Net profit growth (250) 20.60 (36) (17)
Profitability ratios (%)        
OPM 12.90 11.70 11 13.40
EBIT margin 4.56 4.70 4.61 7.64
Net profit margin (5.40) 3.05 2.76 4.24
RoCE 5.82 7.78 7.31 13.20
RoNW (4.50) 2.93 2.72 4.28
RoA (1.70) 1.26 1.10 1.82
Per share ratios ()        
EPS (34) 20.10 17.90 32.70
Dividend per share -- -- -- 0.20
Cash EPS (111) (37) (31) (15)
Book value per share 166 281 171 232
Valuation ratios        
P/E (8.90) 16.30 26.10 11.80
P/CEPS (2.70) (8.90) (15) (26)
P/B 1.81 1.17 2.73 1.66
EV/EBIDTA 5.79 4.20 5.84 4
Payout (%)        
Dividend payout -- -- -- 0.63
Tax payout (77) (47) (40) (19)
Liquidity ratios        
Debtor days 23.80 21 18.70 17.50
Inventory days 57.20 47.80 45.80 41.40
Creditor days (129) (99) (93) (92)
Leverage ratios        
Interest coverage (1.40) (3) (2.90) (4.30)
Net debt / equity 1.73 0.57 0.73 0.49
Net debt / op. profit 2.95 1.57 1.44 1.06
Cost breakup ()        
Material costs (63) (63) (62) (60)
Employee costs (11) (10) (11) (11)
Other costs (13) (15) (17) (16)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2018 Mar-2017 Mar-2016
Revenue 249,795 294,619 269,693 273,046
yoy growth (%) (15) 9.24 (1.20) 3.76
Raw materials (158,292) (185,850) (165,894) (163,383)
As % of sales 63.40 63.10 61.50 59.80
Employee costs (27,648) (30,300) (28,333) (28,881)
As % of sales 11.10 10.30 10.50 10.60
Other costs (31,567) (43,943) (45,877) (44,091)
As % of sales 12.60 14.90 17 16.10
Operating profit 32,287 34,526 29,589 36,691
OPM 12.90 11.70 11 13.40
Depreciation (23,547) (21,554) (17,905) (16,711)
Interest expense (8,097) (4,682) (4,238) (4,889)
Other income 2,643 889 755 885
Profit before tax 3,287 9,180 8,200 15,976
Taxes (2,542) (4,342) (3,251) (3,025)
Tax rate (77) (47) (40) (19)
Minorities and other (435) 2,176 1,391 479
Adj. profit 310 7,014 6,340 13,430
Exceptional items (13,761) 1,975 1,115 (1,850)
Net profit (13,451) 8,989 7,454 11,579
yoy growth (%) (250) 20.60 (36) (17)
NPM (5.40) 3.05 2.76 4.24
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2018 Mar-2017 Mar-2016
Profit before tax 3,287 9,180 8,200 15,976
Depreciation (23,547) (21,554) (17,905) (16,711)
Tax paid (2,542) (4,342) (3,251) (3,025)
Working capital 12,383 2,490 1,798 (6,810)
Other operating items -- -- -- --
Operating cashflow (10,419) (14,226) (11,158) (10,570)
Capital expenditure 238,645 119,336 56,278 31,034
Free cash flow 228,226 105,110 45,120 20,464
Equity raised 86,600 117,868 86,969 131,762
Investments 22,076 11,895 11,573 13,080
Debt financing/disposal 137,450 104,551 98,216 100,740
Dividends paid -- -- -- 73
Other items -- -- -- --
Net in cash 474,352 339,424 241,878 266,120
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 766 1,587 679 679
Preference capital -- -- -- --
Reserves 54,481 61,491 59,500 94,749
Net worth 55,247 63,079 60,180 95,428
Minority interest
Debt 142,131 124,788 106,175 88,950
Deferred tax liabilities (net) 1,556 1,942 1,491 6,126
Total liabilities 200,507 190,622 168,369 191,029
Fixed assets 159,672 162,729 143,118 161,447
Intangible assets
Investments 24,620 16,308 15,771 20,813
Deferred tax asset (net) 4,520 5,458 5,151 4,159
Net working capital (35,098) (27,601) (28,320) (30,003)
Inventories 36,089 37,457 39,014 42,138
Inventory Days 52.70 -- -- 52.20
Sundry debtors 12,679 11,173 18,996 19,893
Debtor days 18.50 -- -- 24.60
Other current assets 58,754 55,269 52,496 48,287
Sundry creditors (73,369) (70,030) (75,560) (80,258)
Creditor days 107 -- -- 99.40
Other current liabilities (69,250) (61,470) (63,265) (60,063)
Cash 46,792 33,727 32,649 34,614
Total assets 200,507 190,622 168,369 191,029
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 246,972 258,594 299,191 289,386 274,492
Excise Duty -- -- -- 790 4,800
Net Sales 246,972 258,594 299,191 288,596 269,693
Other Operating Income 2,823 2,474 2,748 2,954 --
Other Income 4,537 3,112 3,342 7,578 1,937
Total Income 254,332 264,180 305,281 299,128 271,629
Total Expenditure ** 233,160 246,091 307,303 261,738 240,171
PBIDT 21,172 18,089 (2,022) 37,390 31,458
Interest 8,097 7,243 5,759 4,682 4,238
PBDT 13,074 10,845 (7,781) 32,709 27,220
Depreciation 23,549 21,425 23,591 21,554 17,905
Minority Interest Before NP -- -- -- -- --
Tax 1,710 1,893 2,225 3,303 3,138
Deferred Tax 832 (1,498) (4,663) 1,038 114
Reported Profit After Tax (13,016) (10,975) (28,934) 6,813 6,064
Minority Interest After NP 56.30 95.60 102 102 102
Net Profit after Minority Interest (13,451) (12,071) (28,826) 8,989 7,454
Extra-ordinary Items (11,215) (2,358) (27,548) 1,206 726
Adjusted Profit After Extra-ordinary item (2,236) (9,713) (1,278) 7,783 6,729
EPS (Unit Curr.) (37) (35) (85) 26.50 22
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 766 720 679 679 679
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 8.57 7 (0.70) 13 11.70
PBDTM(%) 5.29 4.19 (2.60) 11.30 10.10
PATM(%) (5.30) (4.20) (9.70) 2.36 2.25
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