Tata Motors Financial Statements

Tata Motors Quarterly 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.) Jun-2021 Mar-2021 Dec-2020 Sep-2020 Jun-2020
Gross Sales 65,535 87,772 74,879 52,839 31,482
Excise Duty -- -- -- -- --
Net Sales 65,535 87,772 74,879 52,839 31,482
Other Operating Income 871 856 775 691 501
Other Income 584 2,570 715 641 610
Total Income 66,991 91,198 76,369 54,171 32,593
Total Expenditure ** 61,164 90,479 63,947 47,434 31,300
PBIDT 5,827 719 12,422 6,736 1,292
Interest 2,203 2,145 2,126 1,950 1,877
PBDT 3,623 (1,426) 10,296 4,787 (584)
Depreciation 6,202 6,217 6,129 5,601 5,599
Minority Interest Before NP -- -- -- -- --
Tax 444 158 675 750 126
Deferred Tax 1,298 (291) 270 (1,222) 2,074
Reported Profit After Tax (4,321) (7,511) 3,222 (343) (8,384)
Minority Interest After NP 0.80 20.10 35 7.19 (6)
Net Profit after Minority Interest (4,451) (7,605) 2,906 (314) (8,438)
Extra-ordinary Items 0.82 (13,188) (327) 0.39 2.07
Adjusted Profit After Extra-ordinary item (4,452) 5,583 3,233 (315) (8,440)
EPS (Unit Curr.) (12) (20) 8.07 (0.90) (23)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 766 766 720 720 720
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(%) 8.89 0.82 16.60 12.70 4.11
PBDTM(%) 5.53 (1.60) 13.80 9.06 (1.90)
PATM(%) (6.60) (8.60) 4.30 (0.60) (27)
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