ACKNOWLEDGEMENT

In order to make my project I acknowledge a special thanks to all those people without whose supports it would not be possible for me to complete for me to complete my report. First of all I really thankful to my Principal and Teachers because of them I could achieve the target. I express my sincere thanks to my project guide Mr. Pawan Mishra who had guide to me throughout my project. I would also thankful to the Rmj Motors (TATA MOTORS Dealership) for giving me this opportunity to work on project in J.K Road Govindpura (M.P). I convey my heart full thanks to the Mr. Sunil Jain (Chief Director) and the staff members of RMJ Motors, with their help and corporation. Also I would like to express my inner feeling for all the people for co-operating and helping me throughout the project. Last but not the least I am thankful to my parents and friends who have provided me with their constant support throughout this project.

Harmeet Singh Sadana

PREFACE
The professional training is the internal part of a M.B.A program. It helps the student understand practical aspects of Business Management in a better way as a part of my M.B.A. Barkatullah University, Bhopal (M.P) program at . I was supposed to work with the organization. Finance Management is the systematic and objective identification, collection, analysis, dissemination, and use of information for the purpose of improving decision making related to identification and solution of problems and opportunity Perception is the process, by which an individual selects, organizes and interprets information inputs to create a meaningful picture of the world around as. To be a Master of Business Administration student is a matter of pride because we are in a field, which help us to develop from a normal human being into a disciplined, and dedicated professional. One has to be a good learner to sharpen his knowledge in the particular field to achieve and attain the desired goals and heights. I analysis the financial position of TATA Motors and conducted a financial analysis of two of its competitors Mahindra & Mahindra and Maruti Udyog. To compare the standing TATA Motors vis--vis the industry. I used Balance Sheet , Profit & Loss Account, Cash Flow and Fund Flow Statement, and Ratio Analysis. And I also conducted Customer Satisfaction Survey of TATA Motors in the Bhopal District of Madhya Pradesh. I used research questionnaires as the research and data collection tools. The responses were collected from 100 respondents from various areas of Bhopal. I had learned lot during my project on compare the standing TATA Motors vis--vis the industry & customer satisfaction survey of TATA Motors; I hope this will be helpful to find out financial standing of TATA Motors in automobile industry and satisfaction of consumer in Bhopal city.

INDEX
S.No. PARTICULAR Page No.
1. Declaration 2.
Acknowledgement (i) (ii) (iii) 10

3.
Preface

4.
Introduction

6.
Profile Of Tata Group: 4.1 TATA Group Companies Profile Of Tata Motors Limited: 5.1 Industry Overview 5.2 History Of Tata Motors 5.3 Important Developments 5.4 Global Operations 5.5 Future Challenges

SWOT Analysis - Tata Motors Limit Financial Analysis: 6.1 Financial Overview 6.2 Capital Structure 6.3 Weighted Average Cost Of Capital

6.4 Balance Analysis 6.5 Financial Analysis Of Tata Motors Global Automobile Industry

EXECUTIVE SUMMARY
The project on COMPARE THE STANDING TATA MOTORS vis--vis THE INDUSTRY & CUSTOMER SATISFACTION SURVEY based on financial performance and on customer survey. The main objectives of the project are: Financial performance in automobile industry Market performance Market position. Economic and the industry environment Cost saving initiatives Awareness regarding the facilities provided by Tata Motors. Overall opinion about Tata Motors. Satisfaction amongst the customers of Tata Motors

For this project Financial Statements was analysis and customer research was carried out at various area of Bhopal District of Madhya Pradesh. I learnt analysis financial statement in to find different aspects for compare the standing vis--vis industry and customers perception about TATA Motors.

THE REPORTS IS DIVIDED INTO VARIOUS SECTIONS: ECTIONS: 1. Company Overview:

This part describes the company profile. This part recognizes the achievements and rewards the company has achieved, it also gives little insights into what company offers to the Corporate and the Consumers. This section also describes the kind of technology used.

2. Company Profile:14.
This section gives the information about the company. It includes the company history which depicts the company from the period of foundation. This section also products of the company producing by the company.

3. Analysis of Financial:
Financial statements of the company over last few years are analysis in this section and financial performance is output.

4. Competitors of company:
The companys competitors are finding and study the business during the financial years.

5. Comparison of companys financial statements with competitors:

Comparison of companys Balance Sheet, Profit & Loss Account and Fund and Cash Flow Statement with their competitor to find the standing of company in automobile industry.

FINDINGS:
A detailed analysis of the company shows that the company has had a strong fundamental as well as a strong market performance over the years. Given the economic and the industry environment (improving outlook for the CV industry) TATA Motors would be a key beneficiary. While a pick-up in its CV volumes is evident, operating leverage and cost saving initiatives will improve margins. On an average more than 73% people feel that the prices are affordable whereas 12% do not agree, 74% believe that attractive discounts are offered whereas 26% are not satisfied with the discounts offered. 20% said that the test drives are not offered and 15% said that post sales follow ups are not done regularly whereas 85% said that they were done regularly but people feel that it is the peoples car as it is satisfactory on all other parameters: knowledgeable sales persons , employees spent enough time before and during sales, display of merchandise is attractive, availability of product, variety of merchandize, vehicle in good condition, prices are affordable, attractive discounts are offered, dcor of the waiting area is pleasing, responds to complaints quickly, service at TATA Motors service station is excellent, careful with personal information and is value for money . The overall opinion about TATA Motors is very good.

At the end it is submitted to Barkatullah University.

INTRODUCTION

TATA GROUP
India is an emerging country with huge potential. The domestic economy is now growing at around 9-10% per annum and Indias importance in global terms is being reinforced by rapidly rising exports and domestic consumption. At a time when numbers of a slowdown and overheating in the Indian economy have started gaining momentum, the Indian rupee sprang a surprise by pushing the GDP figure past the trillion-dollar (42,00,000 crore) mark. The automotive industry is at the center of Indias new global dynamic. The domestic market expanding rapidly as incomes rise and consumer credit becomes more widely available. Manufacturers product lines are being continually expanded, as is the local automotive manufacturing base. Expectation are high that India can develop as a global hub for vehicle manufacturers and as an outsourcing center that offers the global automotive industry solution high up the automotive value chain.

India eyes 25 million automotive jobs. India's GDP is set to double over the next decade In percentage terms, the automotive industry's

contribution should also double. In dollar terms, the sector's contribution is set to quadruple to some $145bn
The automobile industry in India accounts for a business volume of $45 billion and has

the potential to grow much faster both through Indian as well as international manufacturers who have established huge facilities in the country. With the worlds second largest and fastest-growing population, there is no denying Indias potential in both economic and population terms and the effect it will have on the auto industry in the years to come. The country is already off to a good start, with a well developed components industry and a production level of 1 million four-wheeled vehicles a year, plus a further 5 million two- and three-wheelers. The implications, market drivers and scope of a future massive Indian vehicle market are covered in the India Strategic Market Profile, a brand-new forecast of Indian automotive and related activity to 2020. Based on Max Pemberton's unique relational long-term forecasting model, it forecasts car and CV sales, demographics, materials usage, auto industry employment, and explains their inter- year of healthy growth in auto industry.

INDUSTRIAL GROWTH:

FUTURE OF THE AUTOMOBILE IN THE ECONOMY:

US based consultancy, keystone predicts that India will become worlds third largest automobile market by 2030. Overall size expected to exceed 20 million with compounded annual growth rate of over 12%.

INDIA THEN & NOW 1983

Number of brands 2 Number of models 2

2011
Number of brands 55 Number of models 115

LITERATURE REVIEW

TATA MOTORS among the press and media that Provide the platform of creating TATA a huge brand in its segment

Released on: 3rd August, 2009

Tata Motors July sales at 48,054 nos., growth of 18% M&HCV sales record year-on-year growth after almost a year - Ashish Garg

Tata Motors total sales (including exports)of Tata commercial and passenger vehicles
in July 2009 were 48,054 vehicles, a growth of 18% over 40,729 vehicles sold in July 2008. The companys domestic sales of Tata commercial and passenger vehicles for July,2009 were 45,599 nos., a 23% growth over 37,033 nos. sold in July last year. Cumulative sales (including exports) for the company for the fiscal at 171,168 nos., was lower by 1%, compared to 172,462 nos. sold last year.

Commercial Vehicles The companys sales of commercial vehicles in July 2009 in the domestic market were 28,408 nos., a 27% growth compared to 22,381 vehicles sold in July last year.
LCV sales were 17,750 nos., a growth of 44% over July last year. M&HCV sales stood at 10,658 nos. turning positive after almost a year with a growth of 6% over July last year and the highest since September 2008 Cumulative sales of commercial vehicles in the domestic market for the fiscal were 100,464 nos., a growth of 7% over last year. Cumulative LCV sales were 63,180 nos., a growth of 32% over last year, while M&HCV sales stood at 37,284 nos. was lower by 19% over last year.

I.

Passenger Vehicles The passenger vehicle business reported a total sale and distribution offtake of 19,881 nos. (17,191 Tata + 2,690 Fiat) in the domestic market in July 2009, a 32% increase compared to 15,064 nos. (14,652 Tata + 412 Fiat) in July last year. Sales of Tata cars, at 14,537 nos., grew by 21% over July 2008. Dispatches of the Tata Nano began during the month, and the sales were 2,475 nos. The Indica range sales were 8,563 nos., a growth of 14% over July last year. The Indigo range recorded sales of 3,499 nos., lower by 22% over July last year. The UV/SUV range of Sumo/Safari accounted for sales of 2,638 nos., flat compared to July last year. The company began the sale and deliveries of the Jaguar and Land Rover range through the brands flagship store in Mumbai. The response has been quite encouraging in the first month with the initial India stock and pipeline imports booked to a large extent.

Cumulative sales and distribution off take of passenger vehicles in the domestic market for the fiscal were 70,572 nos. (63,028 Tata + 7,544 Fiat), against 67,559 nos. (65,746 Tata + 1,813 Fiat) last year, a growth of 4%. Nano sales were 2,475 nos. Cumulative sales of the Indica range at 37,412 nos.,reported a growth of 13%. Cumulative sales of the Indigo family were 12,422 nos., lower by 29%. Cumulative sales of the Sumo/Safari range were 10,690 nos., lower by 29%. Exports The Companys sales from exports at 2,455 vehicles in July 2009 were lower by 34% compared to 3,696 vehicles in July last year. The cumulative sales from exports for the fiscal at 7,676 nos. were lower by 40% over 12,855 nos. in the same period last year.

II.

Released on: 27th July, 2009

Tata Motors First Quarter Stand-alone net revenue Rs.6405 Crores, PAT grows 58% to Rs.514 crores
- R. S. Sardha

Tata Motors today reported revenues (net of excise) of Rs.6404.63 crores on a standalone basis
for the quarter ended June 30, 2009, of the financial year 2009-10, a decline of 7.6% compared to Rs.6928.44 crores in the corresponding quarter previous year. The companys continued focus on cost efficiencies, coupled with reduction of raw material prices, inventory reduction and improvement in sales realisation, yielded considerable benefits resulting in the operating margin to 11.4% (from 7.1% in the previous year), with operating profits at Rs.728.00 crores, an increase of 47.9% as compared to the corresponding period of the previous year. Profit before Tax for the quarter grew by 58.8% to Rs.548.04 crores (Q1 2008-09: Rs.345.09 crores) and Profit after Tax was Rs.513.76 crores (Q1 2008-09: Rs.326.11 crores), an increase of 57.5%. The interest cost (net) at Rs.253.45 crores for the quarter increased by 125.6% due to increased debt taken by the company during the previous year to support its product programmes, investments and working capital requirements and depreciation at Rs.229.12 crores was higher by 26.7% reflecting the increased investments in new products and supporting capabilities. For the quarter ended June 30, 2009, there was an exceptional notional foreign exchange valuation loss of Rs.5.54 crores (previous year loss of Rs.161.59 crores). Improvement in liquidity, increased reach across the country and introduction of new products and variants improved the companys sales, except in the case of the heavy truck segment. The heavy truck segment is recovering, albeit slowly, in response to infrastructure development, Government stimulus packages for the automobile industry and Jawaharlal Nehru National Urban Renewal Mission (JNNURM) initiatives. The companys domestic sales volume at 122,120 vehicles recorded a marginal decrease of 1.4% over the corresponding quarter of the previous year, whilst the exports at 5220 vehicles continued to be severely impacted (negative 43%) in the wake of continuing tumultuous global environment resulting in total sales volume at 127,340 vehicles, a decline of 4.3% as compared to the corresponding quarter of the previous year. The company gained market share in commercial vehicles to 67.4% during the quarter compared with 61% in the corresponding quarter of previous year on the back of a marginal 1.1% growth in domestic sales to 72,216 units. Tata passenger vehicles declined by10% in the domestic market to 45,846 units

but have been growing sequentially every month of the quarter breaking into positive growth in June. The market share for Tata passenger vehicles has sequentially improved from April to June 2009 with the June exit market share at 12.5%, and for the period being at 11.3%. Along with Fiat, the company has a joint market share of 12.3%. in the industry The company continues to upgrade its resources to leverage emerging opportunities. In commercial vehicles, the company unveiled its new range of world standard trucks in May 2009, comprising multi-axle trucks, tractor-trailers, tippers, mixers and special purpose vehicles which are being gradually launched in India and also in select international markets over a period of time. An all-new Starbus range of buses has also been introduced. A new mileage enhancing automatic stop-start technology, developed in-house, has been introduced in the Ace mini truck. Tata Motors has received a majority of the orders for buses released by different State Governments under the JNNURM.
TATA STARBUS LOW BUS FLOOR

Passenger cars and utility vehicles

In passenger vehicles, the company has

completed the process of allotment of Tata Nanos, following the cars launch in March 2009. Deliveries to the allottees have since begun. The company also opened the first Jaguar Land Rover showroom in India at Mumbai. Along with the Fiat Linea, Fiat 500 and the Palio, the company has commenced the distribution of the Fiat Grande Punto in June 2009. The audited stand-alone financial results for the quarter ended June 30, 2009, are enclosed. The consolidated financial results for the 1st quarter of Financial Year would be voluntarily disclosed separately in due course

Tata Prima concept car

Released on: 17th July, 2009

TATA MOTORS DELIVERS FIRST TATA NANO IN THE COUNTRY IN MUMBAI

- Rojar R. Karm

Tata Motors is pleased to announce that

Mr. Ashok Raghunath Vichare of Mumbai has become the first customer in India of the Tata Nano. Mr. Vichare received his choice, the Tata Nano LX (Lunar Silver), at the hands of the Chairman of Tata Sons and Tata Motors, Mr. Ratan N. Tata, at the companys dealership, Concorde Motors, today. Speaking on the occasion, Mr. Tata said, I hope the Tata Nano will bring motoring pleasure to those who will be buying their first car as also those who currently own cars but want a modern, contemporary, emission-friendly city car. Along with Mr. Vichare, two other customers, Mr. Ashish Balakrishnan (Tata Nano LX Sunshine Yellow) and Kores India Limited (Tata Nano LX Lunar Silver), also received their cars today. As planned, Tata Motors has commenced deliveries of the Tata Nano this month to different towns and cities of the country. Dispatches to dealerships have begun from the Pantnagar plant, where the car is being produced, in accordance with schedules informed to customers.

Tata Nano

Released on: 1st July, 2009

TATA Motorss June 2009 DOMESTIC SALES at 43,244 nos.

- G. Lata Sure

Tata Motors total sales (including exports) of Tata commercial and passenger vehicles were
45,399 vehicles, a decline of 4% over 47,245 vehicles sold in June last year. The companys domestic sales of Tata commercial and passenger vehicles for the month of June 2009 were 43,244 nos., a 1% decline over 43,814 nos. sold in June last year. Cumulative sales (including exports) for the company for the quarter at 123,113 nos., declined by 7%, compared to 131,733 nos. sold last year. Commercial Vehicles The Companys sales of commercial vehicles in June 2009 in the domestic market were 26,205 nos., a 2% decline compared to 26,797 vehicles sold in June last year. LCV sales were 16,256 nos., a growth of 17% over June 2008, while M&HCV sales stood at 9,949 nos., a decline of 23% over June 2008 but an increase of 15% over May 2009.Cumulative sales of commercial vehicles in the domestic market for the first quarter of the fiscal were 72,056 nos., a growth of 1% over last year. Cumulative M&HCV sales stood at 26,626 nos., a decline of 26% over last year, while LCV sales for the quarter were 45,430 nos., a growth of 27% over last year. Passenger Vehicles The passenger vehicle business reported a total sale and distribution off take of 19,513 nos. (17,039 Tata + 2,474 Fiat) in the domestic market in June 2009, an 11% increase compared to 17,567 nos. (17,017 Tata + 550 Fiat) in June 2008, and an increase of 17.8% over 16,563 nos. (15,388 Tata + 1,175 Fiat) of May 2009. The Indica range grew for the fifth consecutive month at sales of 10,210 nos. -- a growth of 19% over June 2008. The Indigo family recorded sales of 3,522 nos., a 26% decline over June 2008, but a growth of 24.4% over 2,832 nos. of May 2009. The Sumo/Safari range accounted for sales of 3,307 nos., a decline of 11% compared to June 2008, but a growth of 29.7% over 2,550 nos. of May 2009.The company launched the Jaguar and Land Rover range in the last week of June in Mumbai. Cumulative sales and distribution off take of passenger vehicles in the domestic market for the quarter were 50,691 nos. (45,837 Tata + 4,854 Fiat), against 52,495 nos. (51,094 Tata + 1,401 Fiat) in the same period last year. Cumulative sales of the Indica range at 28,849 nos., reported a growth of 12%. Cumulative sales of the Indigo family were 8,923 nos., a 32% decline over the same period last year. Cumulative sales of the Sumo/Safari rangewere 8,065 nos., a decline of 35%. Exports

The Companys sales from exports at 2,155 vehicles in June 2009 declined by 37% compared to 3,431 vehicles in June 2008.The cumulative sales from exports for the fiscal at 5,220 nos. declined by 43% over9,159 nos. in the same period last year.
Released on: 28th June, 2009

FIRST JAGUAR LAND ROVER SHOWROOM OPENS IN INDIA

Jaguar Land Rover's official entry to the fast-growing Indian car market was marked today by
the opening of a flagship showroom facility at Ceejay House in Mumbai by Mr. Ratan N. Tata, Chairman of Tata Sons and Tata Motors. Jaguar and Land Rover's award-winning vehicles are well known around the world. Jaguar has become one of the world's leading producers of beautiful fast cars. Land Rover produces the worlds most versatile all-terrain vehicles, combining refined luxury with a true breadth of capability. The exciting new range of premium luxury vehicles available for the Indian market will include the Jaguar XF, XFR and XKR and Land Rover Discovery 3, Range Rover Sport and Range Rover. Further details, including specifications, are available on the new Jaguar India website (www.jaguar.in) and Land Rover India website (www.landrover.in).
The purchase of Jaguar and Land Rover is expected to help give Tata Motors gain a foothold in the European and American markets.

Jaguar Land Rover has confirmed Tata Motors as its exclusive importer and the world-class Ceejay House facility in Worli, Mumbai, will offer a wide range of both Jaguar and Land Rover vehicles, with a dedicated showroom section for each brand. It aims to establish a benchmark experience in luxury car sales in India, with plans to develop the dealer network throughout 2009 and 2010. Mr. Ratan N. Tata, Chairman of Tata Sons and Tata Motors, said: "We are extremely pleased and proud to introduce the Jaguar Land Rover brands in the Indian market and give the discerning Indian customer direct access to these prestigious brands, accompanied by a parts and service network. We hope that they will delight customers in India just as they have done in markets the world over." Mr. David Smith, CEO of Jaguar Land Rover, said: "Jaguar Land Rover is delighted to have officially opened our first showroom in India. It is an exciting time to be entering the Indian market, a country with increasing affluence and an economy which is still growing. We believe

that the Indian market holds significant growth potential in the long term, and we hope to tap the demand for premium vehicles from discerning customers."

Released on: July 7, 2009

TATA MOTORS TO INTRODUCE AIR CAR

Ben MaGreow

Tata Motors is taking giant strides and making history for itself. First the Land rover-Jaguar
deal, then the world's cheapest car and now it is also set to introduce the car that runs on air, compressed air to be specific. With fuel prices touching nearly $150 per barrel, it is about time we heard some breakthrough! India's largest automaker Tata Motors is set to start producing the world's first

commercial air-powered vehicle. The Air Car, developed by ex-Formula One engineer Guy Ngre for Luxembourg-based MDI, uses compressed air, as opposed to the gas andoxygen explosions of internal combustion models, to push its engine's pistons. Some 6000 zero-emissions Air Cars are scheduled to hit Indian streets by August of 2009.

TATA AIR CAR

The Air Car, called the MiniCAT could cost around Rs. 3,50,000 ($ 8177) in India and would have a range of around 300 km between refuels. The cost of a refill would be about Rs. 85 ($ 2). Tata motors also plans to launch the world's cheapest car, Tata Nano priced famously at One lakh rupees(1200) by October. The MiniCAT which is a simple, light urban car, with a tubular chassis that is glued not welded and a body of fiberglass powered by compressed air. Microcontrollers are used in every device in the car, so one tiny radio transmitter sends instructions to the lights, indicators etc. There are no keys - just an access card which can be read by the car from your pocket. According to the designers, it costs less than 50 rupees per 100Km (about a tenth that of a petrol car). Its mileage is about double that of the most advanced electric car (200 to 300 km or 10 hours of driving), a factor which makes a perfect choice in cities where the 80% of motorists drive at less than 60Km. The car has a top speed of 105 kmph. Refilling the car will, once the market develops, take place at adapted petrol stations to administer compressed air. In two or three minutes, and at a cost of approximately 100 rupees, the car will be ready to go another 200-300

FIRST CAR TO HAVE ZERO TURN SPACE EFFICIENT PARKING

kilometers. As a viable alternative, the car carries a FIRST CAR TO HAVE TOUCH PAD HANDLING FEATURES small compressor which can be connected to the mains (220V or 380V) and refill the tank in 3-4 hours. Due to the absence of combustion and, consequently, of residues, changing the oil (1 litre of vegetable oil) is necessary only every 50,000Km.] The temperature of the clean air expelled by the exhaust pipe is between 0-15 degrees below zero, which makes it suitable for use by the internal air conditioning system with no need for gases or loss of power.

Released on: July 1, 2010

Tata Motors May sales at 62,296 nos.

Tata Motors' total sales (including exports) of Tata commercial and passenger vehicles in May 2011 were 62,296 vehicles, a growth of 10% over 56,775 vehicles sold in May 2010. The company's domestic sales of Tata commercial and passenger vehicles for May 2011 were 56,762 nos., an 8% growth over 52,799 nos. sold in May last year. Cumulative sales (including exports) for the company for the fiscal are 126,679 nos., a growth of 11% over 113,974 nos. sold last year Commercial Vehicles The company's sales of commercial vehicles in May 2011 in the domestic market were 37,361 nos., a 19% growth compared to 31,475 vehicles sold in May last year. LCV sales were 21,829 nos., a growth of 24% over May last year. M&HCV sales stood at 15,532 nos., a growth of 12% over May last year. Cumulative sales of commercial vehicles in the domestic market for the fiscal are 74,099 nos., a growth of 19% over last year. Cumulative LCV sales are 44,631 nos., a growth of 26% over last year, while M&HCV sales stood at 29,468 nos., a growth of 9% over last year. Passenger Vehicles The passenger vehicles business reported a total sale and distribution offtake of 21,549 nos. (19,401 Tata + 2,148 Fiat) in the domestic market in May 2011, compared to 23,487 nos. (21,324 Tata + 2,163 Fiat) in May last year. Sales of Tata passenger vehicles for May 2011 are at

19,401 nos, lower by 9% over May last year. Sales of the Tata Nano were 6,515 nos., higher by 84% over May last year. The Indica range sales were 5,497 nos., lower by 35% over May last year. The Indigo range recorded sales of 4268 nos., lower by 35% over May last year. The Sumo/ Safari/ Aria/ Venture range accounted for sales of 3,121 nos., higher by 15% over May last year. Jaguar Land Rover sales continued their upward trend. Cumulative sales and distribution offtake of passenger vehicles in the domestic market for the fiscal are 46,985 nos. (42,788 Tata + 4,197 Fiat), against 48,386 nos. (44,423 Tata + 3,963 Fiat) last year, lower by 3%. Cumulative sales of Tata passenger vehicles were 42,788 nos., lower by 4% compared to 44,423 nos., in May last year. Cumulative sales of the Nano are 16,527 nos., a 134% increase compared to 7,075 nos., in May last year. Cumulative sales of the Indica range are 9,747 nos., lower by 44%. Cumulative sales of the Indigo family are 9,550 nos., lower by 31%. Cumulative sales of the Sumo/Safari/ Aria range are 6,964 nos., higher by 15%. Released on: July 10, 2011

Tata Motors receives largest order ever of M&HCV trucks from a single fleet owner
Tata Motors has received its largest order ever of Medium & Heavy Commercial Vehicles from a single fleet owner. The order is from Siddhivinayak Logistics Ltd. (SVLL) to supply 1,111 M&HCV trucks, to be delivered during the year. Based in Surat, SVLL is one of the largest fleet owners in the country, owning a fleet of over 2000 commercial vehicles. The company operates across diverse segments like steel, cement, tractors, chemicals, machinery and is a pioneer in new segments like commercial vehicle chassis carriers. SVLL plans to start transporting farm fresh fruits and vegetables through refrigerated containers on the Tata Prima. According to Mr. R C Baid, Founder and Chief Mentor, Siddhivinayak Logistics Ltd., "We purchased the first Tata vehicle in 1988, and since then have been purchasing their M&HCV and LCV trucks. We appreciate the quality of Tata products, customer engagement initiatives and their extensive service network. We would like to continue our association with Tata Motors and expand our business with Tata Motors vehicles. It is in this light that we have placed a bulk order of 1,111 vehicles." Mr. Vinod Sahay, Head - Sales & Marketing (M&HCV Trucks), Tata Motors said, "We are delighted to receive this order and would like to thank SVLL for their continued trust in our

brands. We will be commencing deliveries in this month and plan to complete the order by end of this financial year." Tata Motors M&HCV sales in May 2011 saw a growth of 12% over May 2010. The company currently has 70% market share in M&HCV trucks.

Released on: July 7, 2011 Tata Motors Group global wholesales at 88,251 vehicles in May 2011 The Tata Motors Group global wholesales, including Jaguar Land Rover, were 88,251 nos. in May 2011, a growth of 11% over May 2010. Cumulative sales for the fiscal are 175,370 higher by 11% compared to the corresponding period in 2010- 11. Global sales of all commercial vehicles - Tata, Tata Daewoo and the Tata Hispano Carrocera range -- were 44,070 nos. in May 2011, a growth of 20%. Cumulative sales for the fiscal are 85,249 nos., a growth of 20%. Global sales of all passenger vehicles were at 44,181 nos. in May 2011, a growth of 2%. Cumulative sales for the fiscal are 90,121 nos., a growth of 4%. Global sales of Tata passenger vehicles and the distribution off take in India of Fiat cars were at 21,885 nos. for the month, lower by 9% over May 2010. Cumulative sales for the fiscal are at 48,389 nos., lower by 2%. Global sales of Jaguar Land Rover in May 2011 were 22,296 vehicles, higher by 17%. Jaguar sales for the month were 4,221 nos., lower by 18%, while Land Rover sales were 18,075 nos., higher by 30%. Cumulative sales of Jaguar Land Rover for the fiscal are 41,732 nos., higher by

13%. Cumulative sales of Jaguar are 7,305 nos., lower by 16%, while cumulative sales of Land Rover are 34,427 nos., higher by 22%

JAGUAR C-X75

NEW PRODUCT OF THE YEAR

About Tata Motors

Tata Motors is India's largest automobile company, with consolidated revenues of Rs. 1,23,133 crores ($ 27 billion) in 2010-11. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also distributes Fiat cars in India, and has an industrial joint venture with Fiat in India. With over 5.9 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world's fourth largest truck manufacturer and the third largest bus manufacturer. Released on: July 29, 2011

Supreme Court protects rights of Tata Motors till Calcutta High Court disposes of company's writ petitions on Singur Land Rehabilitation & Development Act 2011
The Supreme Court today provided interim protection to the rights of Tata Motors till disposal of the main matters pending before the Calcutta High Court on the land earmarked for the Tata Motors' integrated project at Singur. The order was passed on a Special Leave Petition (SLP) by Tata Motors to stay distribution of land till the Calcutta High Court has disposed of the main matters. Tata Motors appealed to the Supreme Court that the position on the ground should not be irretrievably changed when the main matters are pending before the Calcutta High Court.

"As an interim arrangement, we direct the State not to return the land to the unwilling owners until further orders being passed by the High Court," the Supreme Court said "taking note of the apprehensions expressed by the petitioners". The Supreme Court said, "Considering the fact that the petitioners have approached the High Court challenging the action of the State and inasmuch as the main issue is pending before the High Court, we are not inclined to interfere at this stage." The Supreme Court added, "All the parties are directed to co-operate with the High Court for early decision in the main matters. In view of the urgency expressed by all the parties, we request the High Court to dispose of the main matters as early as possible preferably within a period of one month." Tata Motors had appealed on June 24 to the Advocate General of West Bengal, that the government should not proceed with any action on the Singur plot in view of the ongoing hearing on the company's main matters on The Singur Land Rehabilitation & Development Act 2011. During the hearing on the main matters on June 24, the Tata Motors' counsel, in the light of media reports of distribution of land, had requested the Advocate General to agree that status quo as regards distribution of land be maintained in view of the ongoing hearing. In response, the Advocate General had said while it was not possible for him to respond right away, he would think it over the weekend and communicate during the next hearing. One June 27 (Monday), however, the Advocate General informed the Calcutta High Court that the state government was unable to accept the proposal of Tata Motors. The Singur Land Rehabilitation & Development Act 2011 charges Tata Motors with non-commissioning of the plant and abandonment, and takes away its rights to the land without providing for a reasonable compensation, despite the company having made a huge investment of over Rs.1800 crores in the plant. All the equipment had been installed and trial production had begun. In fact, about 15 to 20 cars were ready for roll-out. Besides, in keeping with the tradition of the Tata Group, Tata Motors began a comprehensive community development programme in Singur in December 2006, even before the plant's construction began, comprising development of employability / self-employment of the community, health and education. Eventually, about 767 individuals were trained. About 102 health clinics were run treating over 17,000 patients till the activity was forcibly stopped. Adjacent schools were supported with necessary infrastructure. Men and women in the area were supported to acquire means of selfemployment.

But the state government failed to ensure a safe and congenial environment which forced the company to shift the project. Having failed to provide what was an essential condition for the operation of the plant, the state government cannot charge the company with non-commissioning and abandonment and take away its rights, as enshrined in the lease agreement between the company and the West Bengal Industrial Development Corporation (WBIDC). Similarly, 13 vendors had constructed plant buildings, 17 others were at various stages of construction and balance 24 vendors were at various stages of obtaining different approvals before commencing construction. The Act completely ignores their losses. The Act seeks to legalise force and taking advantage of the same, the State by a midnight operation using police force dispossessed the security guards from the plant site and trespassed into it. The Act appoints the District Judge of Hooghly as the adjudicator for determining the compensation, without any guidelines or parameters, on the basis of which the compensation would be decided. It gives an unguided delegation of powers to the District Judge Hooghly in clear derogation of the Constitution of India. Awards
TATA Motors Ltd has been selected as the winner of Golden Peacock Award for Corporate Social Responsibility for the year 2011... Customer Support CVBU has been conferred with the 'Golden Peacock National Training Award' 2011...

EFFECT OF INFLATION ON CAR MARKET

- Hindustan Times

The growth in the car market has shown declining results as a result of the inflation.
The effect on inflation has affected everysector which is related to car manufacturing and production. The increase in the price of fuel and the steel has led to a slower growth rate of the car industry in India. The production of Indian cars has been brought to a noticeable halt for inflation. It has also been noticed that leading car manufacturer in India like the Tata Motors, Maruti, Hyndai and Honda are trying hard to boost their production and sales of the cars in a scenario where the stock market is on as low rise. Due to inflation it has also been noticed that the sales of car are being motivated by the discount offers that the

automobile companies are offering to the buyers. Some car manufactures have gone to the extent of giving exchange offers to the consumers and some have introduced a competitive finance rates. The effect of inflation has taken the rise in the price rate of the cars by 3-4%, which in turn suffices the need to meet the rise in price of the raw materials to build a car. The effect of inflation has affected not only the production and sales of Indian cars but also has significantly affected the car dealer, officials and car financers. Research and observations have led to the conclusion that in the year 2008, the car market and the car industry is expected to witness 8-9% fall.The effect of inflation on the car manufacturers have in turn affected the dealers in a way where they are being pressurized to push the sales graph higher and keep a high profit margin. The financers in the cycle are pressurized by both car manufacturers and dealers to pay the consumers a cent percent financial assistance by reducing on the loan interest rate. Overall it has been noticed that the automobile market in India and specially the car market in India have experienced a downtrend with the inflation affecting almost every industry to which the car market is essentially related.

THEORETICAL RELEVANCE OF TATA MOTORSS LONG TERM FINANCIAL BEHAVIOR - Financial Institute

As per the Trade off theory, the marginal cost and benefit of debt in determining the best financial structure of a company is considered, at most considerate liability percentage, a companies market value is brought up and the companies whose liability percentage diverge from the best possible can increase their price by bringing their liability percentage towards the target. (European Journal of Economics) The pecking order theory is based on the idea of asymmetric information between managers and investors. A company increases its debits by issuing new equities to finance new projects because if

not done the same way then and new investors are brought into consideration then the new Investors will make most of the profit which is the net present value (NPV) of that particular project which will cause lose to the present share holders. To avoid this most of the firms tend to finance their new projects using a security that is not undervalued in the market, which can be internal funds or some other less dangerous debt securities. Therefore, this is what affects the choice between internal and external financing. (European Journal of Economics). The M&M theory is a theory of capital structure which explains that a companys market price is definite by its earning power and by the basic risk of its resources, the three most important ways of funding, they are issuing shares, borrowing and retaining profits As opposed to dispersing them to shareholders in dividends (Modigliani-Miller Theorem M&M) This theory also says that if there are no taxes, bankruptcy costs, and asymmetric information, in an efficient market then a companys value becomes solid for finance by its sources. It makes no difference how the companys funds are increased either by issuing stock or by selling debt and neither matters the dividend policy of the company. (Modigliani-Miller Theorem - M&M) Therefore, According to the above composed data the Tata motors raised funds from NYSE in 2004, and then from Bombay stock Exchange, Private Equity Funds, Sale of Stakes, Inter-Group Sales and Bridge loans, so, this is in accordance to the pecking order theory which says that a company increases its debits by issuing new equities to finance new projects because if not done the same way then and new investors are brought into consideration then the new Investors will make most of the profit which is the net present value (NPV) of that particular project which will cause lose to the present share holders. To keep away from this situation most of the firms tend to finance their new projects using a security that is not undervalued in the market, which can be internal funds or some other less dangerous debt securities. Therefore, this is what affects the choice between internal and external financing. Hence, the pecking order theory explains the need of the firms to rely on the internal sources of the company for finances and also explains why the companies prefer debt to equity if external financing is required.

COMPANY PROFILE

TATA GROUP
Tata is a rapidly growing business group based in India with significant international operations. Revenues in 2007-08 are estimated at $62.5 billion (around Rs251,543 crore), of which 61 per cent is from business outside India. The Group employs around 350,000 people worldwide. The Tata name has been respected in India for 140 years for its adherence to strong values and business ethics. The business operations of the Tata Group currently encompass seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The Groups 27 publicly listed enterprises have a combined market capitalization of some $60 billion, among the highest among Indian business houses, and a shareholder base of 3.2 million. The major companies in the Group include Tata Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Tea, Indian Hotels and Tata Communications. The Groups major companies are beginning to be counted globally. Tata Steel became the sixth largest steel maker in the world after it acquired Corus. Tata Motors is among the top five commercial vehicle manufacturers in the world and has recently acquired Jaguar and Land Rover. TCS is a leading global software company, with delivery centres in the US, UK, Hungary, Brazil, Uruguay and China, besides India. Tata Tea is the second largest branded tea company in the world, through its UK-based subsidiary Tetley. Tata Chemicals is the worlds second largest manufacturer of soda ash. Tata Communications is one of the worlds largest wholesale voice carriers.

In tandem with the increasing international footprint of its companies, the Group is also gaining international recognition. Brand Finance, a UK-based consultancy firm, recently valued the Tata brand at $11.4 billion and ranked it 57th amongst the Top 100 brands in the world. Business week ranked the Group sixth amongst the Worlds Most Innovative

Companies. And the Reputation Institute, USA, recently rated it as the Worlds Sixth Most Reputed Firm. Founded by Jamsetji Tata in 1868, the Tata Groups early years were inspired by the spirit of nationalism. The Group pioneered several industries of national importance in India: steel, power, hospitality and airlines. In more recent times, the Tata Groups pioneering spirit has been showcased by companies like Tata Consultancy Services, Indias first software company, which pioneered the international delivery model, and Tata Motors, which made Indias first indigenously developed car, the Indica, in 1998 and recently unveiled the worlds lowest-cost car, the Tata Nano, for commercial launch by end of 2008. The Tata Group has always believed in returning wealth to the society it serves. Two-thirds of the equity of Tata Sons, the Tata Groups promoter company, is held by philanthropic trusts which have created national institutions in science and technology, medical research, social studies and the performing arts. The trusts also provide aid and assistance to NGOs in the areas of education, healthcare and livelihoods. Tata companies also extend social welfare activities to communities around their industrial units. expenditure of the Trusts and the companies amounts to around 4 per cent of the Groups net profits. Going forward, the Group is focusing on new technologies and innovation to drive its business in India and internationally. The Nano car is one example, as is the Eka supercomputer (developed by another Tata company), which in 2008 is ranked the worlds fourth fastest. The Group aims to build a series of world class, world scale businesses in select sectors. Anchored in India and wedded to its traditional values and strong ethics, the Group is building a multinational business which will achieve growth through excellence and innovation, while balancing the interests of its shareholders, its employees and wider society.

CORE VALUES OF TATA

At the Tata Group our purpose is to improve the quality of life of the communities we serve. We do this through leadership in sectors of national economic significance, to which the Group brings a unique set of capabilities. This requires us to grow aggressively in focused areas of business. Our heritage of returning to society what we earn evokes trust among consumers, employees, shareholders and the community. This heritage is being continuously enriched by the formalization of the high standards of behavior expected from employees and companies. The Tata name is a unique asset representing leadership with trust. Leveraging this asset to enhance Group synergy and becoming globally competitive is the route to sustained growth and long-term success.

FIVE CORE VALUES

The Tata Group has always sought to be a value-driven organization. These values continue to direct the Groups growth and businesses. The five core Tata values underpinning the way we do business are: Integrity: We must conduct our business fairly, with honesty and transparency. Everything we do must stand the test of public scrutiny. Understanding: We must be caring, show respect, compassion and humanity for our colleagues and customers around the world, and always work for the benefit of the communities we serve. Excellence: We must constantly strive to achieve the highest possible standards in our day-today work and in the quality of the goods and services we provide. Unity: We must work cohesively with our colleagues across the Group and with our customers and partners around the world, building strong relationships based on tolerance, understanding and mutual cooperation. Responsibility: We must continue to be responsible, sensitive to the countries, communities and environments in which we work, always ensuring that what comes from the people goes back to the people many times over.

TATA Group Companies

Family pride
The TATA family of enterprises comprises 98 companies in seven business sectors. This section lists all these companies under the sectors in which they operate, besides the two promoter companies of the Group.

The Seven Business Sectors are:

Engineering (AUTOMOTIVE):
Tata Auto comp systems: Subsidiaries/Associates/Joint Ventures: International Automotive, Knorr Bremse Systems for commercial Vehicles, Tata Auto Comp GY Batteries, TACO Engineering, TACO Faurecia Design Centre, TACO Hendrickson Suspension Systems, TACO Interiors and Plastics Division, Taco Kunstofftechnik, TACO MobiApps Telemaics, TACO Supply Chain Management, TACO Tooling, TACO Visteon Engineering Center, Tata Ficosa Automotive Systems, Tata Johnson Controls Automotive, Tata Toyo Radiator, Tata Yazaki Auto Comp, TC Springs, Technical Stampings Automotive. Tata Motors: Subsidiaries /Associates/ Joint Ventures: Concorde Motors, HV Axels, HV Transmissions, Nita Company, TAL Manufacturing Solutions, Tata Cummins, Tata Daewoo Commercial Vehicles Company, Tata Engineering Services, Tata Precision Industries, Tata Technologies, Telco construction Equipment. Engineering Services Tata Projects, TCE Consulting Engineers, Voltas Engineering Products TAL Manufacturing Solutions, Telco Construction Equipment Company, TRF

METALS:
TATA STEEL Subsidiaries /Associates/ Joint Ventures: Hooghly Met Coke and Power Company,

Jamshedpur Injection Powder (Jamipol), Jamshedpur Utility and Service Company Limited (JUSCO), Lanka Special Steel, Mjunction Serves, NatSteel, Sila Eastern Company, Tata Blue Scope Steel, Tata Metallic, Tata Pigments, Tata Refractories, Tata Ryerson, Tata Sponge Iron, Tata steel (Thailand), Tata Steel KZN, Tayo Rolls, The Dhamra Port Company, The Indian Steel and Wire Products, The Tinplate Company of India, Tm International Logistics, TRF.

ENERGY:
POWER Tata BP Solar India Tata Power Subsidiaries /Associates/ Joint Ventures: Tata Ceramics, Tata Power Trading, North Delhi Power Limited OIL AND GAS Tata Petrodyne

CHEMICALS:

Rallis India Tata Pigments Tata Pigments PHARMA Advinus Therapeutics

SERIVES:
HOTELS AND REALTY Indian Hotels (Taj Group) Subsidiaries /Associates/ Joint Ventures: Taj Air, Roots Corporation (Ginger Hotels) THDC Tata Realty and Infrastructure FINANCIAL SERVICES Tata AIG General Insurance, Tata AIG Life Insurance, Tata Asset Management, Tata Capital, Tata Financial Services, Tata Investment Corporation OTHER SERVICES Tata Quality Management Services, Tata Services, Tata Strategic Management Group

CONSUMER PRODUCTS:

Infiniti Retail Tata Tea Subsidiaries /Associates/ Joint Ventures: Tata Coffee, Tata Tetley, Tata Tea Inc Tata Ceramics Tata McGraw Hill Publishing Company Titan Industries and Trent

INFORMATION SYSTEMS AND COMMUNICATIONS:

Nelito Systems Tata Consultancy Services Subsidiaries /Associates/ Joint Ventures: APONLINE, Airline Financial Support Services, Aviation Software Development Consultancy, CMC, CMC Americas Inc, Conscripti, HOTV, Tata America International Corporation, WTI Advance Technology. Tata Elxsi SerWizSol Tata Interactive Systems Tata Technologies

COMMUNICATIONS
Tata Sky Tata Teleservices Subsidiaries /Associates/ Joint Ventures: Tata Teleservices (Maharashtra) Tata Communication Tata Net INDUSTRIAL AUTOMATION Nelco Subsidiaries /Associates/ Joint Ventures: Tatanet

TATA MOTORS LIMITED

The largest passenger automobile and commercial vehicle manufacturing company of India Tata Motors Limited, was formerly called TELCO (TATA Engineering and Locomotive Company), has its headquarters in Bombay, now Mumbai, India. Established in 1945, listed on the New York Stock Exchange in 2004 has created Rs. 320 billion wealth and was one of the top 10 wealth creators in India, With manufacturing facilities in the towns of Jamshedpur, Lucknow, and Pune. This company was founded by Jamshetji Tata and is run by Ratan Tata under the flagship company known as Tata and sons group. He commands 22000 employees working in three plants as well as other regional and zonal offices across the length and breadth of India. Tata motors passenger cars still need to reach acceptable international requirements. The company commands an imposing 65% share of the domestic commercial vehicle market and is trying to modernize this segment. The financial business of Tata motors was separated into a subsidiary company in sep. 2006, where it recorded a strong financial performance during the last 5 year period. From year 20032007, the profits of the company went up at a CAGR of 36.4%, to attain Rs. 331, 525 million in 2007 from Rs. 95, 731 Million in 2003. By floating two rights issues at the end of Sep 2008 Tata Motors Ltd expected to raise Rs 4, 150 crores. They are offering one ordinary share valued at Rs. 340 every six shares expecting to net Rs. 2.90 Crores, the so called A share would have different voting and dividend rights, for every such 6 shares held at a face value of 305 would raise Rs. 1.960 Crores, these proceed would be utilized for an early repayment of the short term funding of 2.3 Billion $ (Rs. 10,189 Crores) Borrowed for Acquisition of jaguar and Land Rover from their principle The Ford Motor Companys. It is also in talks with private equity funds to offload 25% of stake in each of the following 6 unlisted group units, they are Tata Daewoo commercial vehicle company, HV transmissions, Tata motors finance, Tata technologies and TELCO construction equipment, the sales of the stakes would possible conclude by June 2009, helping it to raise further funds for this acquisition, earlier in July it sold 24% stake in an Auto component unit to a group firm and booked a profit of Rs. 110 crores, it also sold 10 million shares or 1.36% of Tata steel for RS. 486 crores to Tata Sons, the holding company of whole Tata group firms. "The Company aims to monetize a part of its funds through a phased divestment of certain investments preferably as inter-group sales wherever possible at current market prices in the coming six to eight months," the money that will be released from these investments will

become a part of the capital to be lifted for repayment of the bridging loan taken for the JaguarLand Rover acquisition. Taken in March 2008" (Tata Motors Profile) It took a 15 month bridge loan of 3 billion in March from a consortium of banks to finance the JLR accusation and its expansion plans Since the rights issue was announced on 28th may its share value has fallen more than 30% and fell by 1.82% to Rs. 429.85 on BSE, even though the bench mark index gained 3.8% to end at

15, 049.86 points. The Analysts say that, this is a strategic move taken by Tata Motors because it is allowing the company to make a lot of profit even when the market is in the financial pressure allows Tata sons to raise its wager in group companies. If the company will follow the above mentioned trends then possibly it can raise its finances in a low liquidity and high interest rate set-up.

INDUSTRY OUTLOOK
The Indian Automobile Industry enjoys the advantage of low cost base, high skilled Labor , strong ancillary network coupled with Governments support by way of concessional excise duty of 16% for small cars, ban on overloading and also significant investments proposed for removing infrastructure bottlenecks. The CV industry is directly related to the economic growth and development. The growth in demand for CVs is directly related to the IIP index and any upsurge in economic activities will call for more cargo movement in the economy. The domestic CV market grew at a CAGR of 26.7% during the last 6 years. In FY07, the CV segment registered a growth of 32.2% due to Supreme Courts ban on over loading trucks. However, we believe that this is a one-time demand and the CV segment may not witness such kind of growth repeatedly. There is a regulation that restricts the movement of vehicles above certain age (15 years in National Capital Region and 8 years in Mumbai). Though the rule is not being followed strictly at present, in future if this rule is implemented strictly it will result in huge replacement demand. With the Indian economy expected to grow at 8.5% to 9% in coming years, we expect the demand for CVs to be fairly decent except for the fact that the industry is currently experiencing a correction due to sharp spurt in demand in the previous years. The CV industry witnessed a change in demand dynamics in last few years. The demand for LCVs in the <=3.5 tones segment is rising at the cost of demand in 5 to 7.5 tones category, while demand in 7.5 to 12 tonnes segment and 16.2 to 25 tones segment is booming at the cost of demand in 12 to 16.2 tonnes segment. Demand for trailers of >35.2 tonnes is witnessing a surge while demand for semi-trailers in 26.4 to 35.2 tonnes segment is suffering. This structural shift in demand dynamics is due to the evolution of Hub & Spoke model of distribution, which is now adopted by transportation players because of improved road infrastructure and also the ban on trucks in many cities by the authorities to tackle the traffic congestion issues. According to the Hub & Spoke model, HCVs plying over the highways to transport goods to different states and districts, while MCVs are used in distributing goods to different cities and the last leg of distribution in intra city is done by using <=3.5 tonner vehicles.

GROWTH SEGMENT :

History

History of TATA Motors 1.

Tata Motors launches its first truck in collaboration with Mercedes-Benz. Tata Motors is a part of the Tata and Sons Group, founded by Jamshedji Nussarwanji Tata and J. Baker. The company was established in 1945 as a locomotive manufacturing unit and later expanded its operations to commercial vehicle sector in 1954 after forming a joint venture with Daimler-Benz AG of Germany.

2.TATA Indica
The first generation Tata Indica After years of dominating the commercial vehicle market in India, Tata Motors entered the passenger vehicle market in 1991 by launching the Tata Sierra, a multi utility vehicle. After the launch of three more vehicles, Tata Estate (1992, a stationwagon design based on the earlier 'TataMobile' (1989), a light commercial vehicle), Tata Sumo (LCV, 1994) and Tata Safari (1998,

India's first sports utility vehicle). Tata launched the Indica in 1998, the first fully indigenous passenger car of India. Though the car was initially panned by auto-analysts, the car's excellent fuel economy, powerful engine and aggressive marketing strategy made it one of the best selling cars in the history of the Indian automobile industry. A newer version of the car, named Indica V2, was a major improvement over the previous version and quickly became a mass-favourite. A badge engineered version of the car was sold in the United Kingdom as the Rover CityRover. Tata Motors also successfully exported large quantities of the car to South Africa.The success of Indica in many ways marked the rise of Tata Motors.

3. TATA Brads DAEWOO ACQUISITION

Tata Novus is one of the best selling commercial trucks in South Korea.

With the success of Tata Indica, Tata Motors aimed to increase its presence worldwide. In 2004, it acquired the Daewoo Commercial Vehicle Company of South Korea. The reasons behind the acquisition were: Companys global plans to reduce domestic exposure. The domestic commercial vehicle market is highly cyclical in nature and prone to fluctuations in the domestic economy. Tata Motors has a high domestic exposure of ~94% in the MHCV segment and ~84% in the light commercial vehicle (LCV) segment. Since the domestic commercial vehicle

sales of the company are at the mercy of the structural economic factors. It is increasingly looking at the international markets. The company plans to diversify into various markets across the world in both MHCV as well as LCV segments. To expand the product portfolio Tata Motors recently introduced the 25MT GVW Tata Novus from Daewoos (South Korea) (TDCV) platform. Tata plans to leverage on the strong presence of TDCV in the heavy-tonnage range and introduce products in India at an appropriate time. This was mainly to cater to the international market and also to cater to the domestic market where a major improvement in the Road infrastructure was done through the National Highway Development Project Tata remains India's largest heavy commercial vehicle manufacturer and Tata Daewoo is the 2nd largest heavy commercial vehicle manufacturer in South Korea. Tata Motors has jointly worked with Tata Daewoo to develop trucks such as Novus and World Truck and buses namely, GloBus and StarBus.

4.HISPANO CARROCERA

Hispano Divo at the 2008 FIAA in Madrid

In 2005, sensing the huge opportunity in the fully built bus segment, Tata Motors became acquired 21% stake in Hispano Carrocera SA, Aragonese bus manufacturing company giving it controlling rights of the company.

JOINT VENTURES

Tata MarcoPolo released this low-floor bus in India and now it is widely used as public transport

In 2005, sensing the huge opportunity in the fully built bus segment, Tata Motors acquired 21% stake in Hispano Carrocera SA, Aragonese bus manufacturing company and introduced its highend inter-city buses in the country. Tata Motors has also formed a 51:49 joint venture with Marcopolo S.A., a Brazil-based global leader, lead by Brian Behrle, in bus body building. This joint venture is to manufacture and assemble fully-built buses and coaches targeted at developing mass rapid transportation systems. The joint venture will absorb technology and expertise in chassis and aggregates from Tata Motors, and Marcopolo will provide know-how in processes and systems for bodybuilding and bus body design.

IMPORTANT DEVELOPMENTS
In 2005 & 06

Tata Ace was India's first mini truck Tata Ace, India's first indigenously developed sub-one ton mini-truck, was launched in May 2005. The mini-truck was a huge success in India with auto-analysts claiming that Ace had changed the dynamics of the light commercial vehicle (LCV) market in the country by creating a new market segment termed the small commercial vehicle (SCV) segment. Ace rapidly emerged as the first choice for transporters and single truck owners for city and rural transport. By October 2005, LCV sales of Tata Motors had grown by 36.6 percent to 28,537 units due to the rising demand for Ace. The Ace was built with a load body produced by Auto line Industries.By 2005; Auto line was producing 300 load bodies per day for Tata Motors. Ace is still one of the number makers for TML, TML sold the 2,00,000th Ace in August 2008, within 4 years since its introduction. Tata Ace has also been exported to several European, South American and African countries. Electric-versions of Tata Ace are sold through Chrysler's Global Electric Motorcars division.

In 2007
In 2007, Tata Motors launched several concept models and future designs of existing models. It also formed joint ventures with various local companies in several countries to assemble Tata cars. Tata Motors launched a re-designed version of Tata Xenon TL during Motor Show Bologna which would be assembled in Thailand and Argentina. A pick-up variant of Tata Sumo was also launched under the program 'Global Pick-Up'. The company plans to launch the new pick-up model in India, Southeast Asia, Europe, South Africa, Turkey and Saudi Arabia. Tata Motors also unveiled newer model of Tata Indigo and Tata Elegante concept-car during the Geneva Auto Show. Tata Motors also formed a joint venture with Fiat and gained access to Fiats diesel engine technology. Tata Motors is looking to extend its relationship with Fiat and Iveco to other segments like the 'Global Pick-Up' program. The launch of the 'Global Pick-Up' will mark the entry of the company into developed markets like Europe and the United States. The project was initially collaboration between Tata Motors and its subsidiary Tata Daewoo Commercial Vehicles, but later Tata Motors decided to work with Iveco as Daewoos design was not in sync with the needs of sophisticated European customers. The company has formed a joint venture with Thailands Thonburi Company, an independent auto assembler, in which Tata Motors will hold a 70% stake.

In 2008
COMPRESSED AIR CAR
k

Tata One CAT Motor Development International of Luxembourg has developed the world's first prototype of a compressed air car, named OneCAT. In 2007, MDI owner Guy Negre was reported to have "the backing of Tata".

It has air tanks that can be filled in 4 hours by plugging the car into a standard electrical plug. In 2008 MDI planned to also design a gas station compressor, which would fill the tanks in 3 minutes. There are no gasoline costs and no fossil fuel emissions from the vehicle when run in town, but "the compressed air driving the pistons can be boosted by a fuel burner". One CAT is a five seat vehicle with a 200-litre (7.1 cu ft) trunk. With full tanks it will run at 100 km/h (62 mph) for 90 kilometers (56 mi) range in urban cycle. It is actually a dual fuel car but it is more efficient than any present Hybrid cars.

IN 2009 AND ONWARDS Electric vehicles

Tata Motors unveiled the electric versions of passenger car Tata Indica and commercial vehicle Tata Ace. Both run on lithium batteries. The company has indicated that the electric Indica would be launched locally in India in about 2010, without disclosing the price. The vehicle would be launched in Norway in 2009. Tata Motors' UK subsidiary, Tata Motors European Technical Centre, has bought a 50.3% holding in electric vehicle technology firm Miljbil Grenland/Innovasjon of Norway for US$1.93 M, which specialises in the development of innovative solutions for electric vehicles, and plans to launch the electric Indica hatchback in Europe next year.

GLOBAL OPERATIONS
Tata Motors has been aggressively acquiring foreign brands to increase its global presence. Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, a business comprising the two iconic British brands that was acquired in 2008. Tata Motors has also acquired from Ford the rights to three other brand names: Daimler, Lanchester and Rover. In 2004, it acquired the Daewoo Commercial Vehicles Company, South Koreas second largest truck maker. The rechristened Tata Daewoo Commercial Vehicles Company has launched several new products in the Korean market, while also exporting these products to several international markets. Today two-thirds of heavy commercial vehicle exports out of South Korea are from Tata Daewoo. In 2005, Tata Motors acquired a 21% stake in Hispano Carrocera, a reputed Spanish bus and coach manufacturer, giving it controlling rights of the company. Hispanos presence is being expanded in other markets. On Tata's journey to make an international foot print, it continued its expansion through the introduction of new products into the market range of buses (Starbus & Globus) as well as trucks (Novus).

These models were jointly developed with its subsidiaries Tata Daewoo and Hispano Carrocera. In May, 2009 Tata unveiled the Tata World Truck range jointly developed with Tata Daewoo. They will debut in South Korea, South Africa, the SAARC countries and the Middle-East by the end of 2009. In 2006, it formed a joint venture with the Brazil-based Marcopolo, a global leader in body-building for buses and coaches to manufacture fully-built buses and coaches for India and select international markets. Tata Motors has expanded its production and assembly operations to several other countries including South Korea, Thailand, South Africa and Argentina and is planning to set up plants in Turkey, Indonesia and Eastern Europe. Tata also franchisee/joint venture assembly operations in Kenya, Bangladesh, Ukraine, Russia and Senegal. Tata has dealerships in 26 countries across 4 continents. Though Tata is present in many counties it has only managed to create a large consumer base in the Indian Subcontinent namely India, Bangladesh, Bhutan, Sri Lanka and Nepal and has a growing consumer base in Italy, Spain and South Africa. The Government of India announced an automobile policy in December 1997. The policy required majority-owned subsidiaries of foreign car firms to invest at least US$50 million in equity if they wished to set up manufacturing projects in India. It also forced them to take on export obligations to fund their auto part imports and required them to submit to a schedule for increasing the share of locally made parts in their cars. Mere car assembling operations were not welcomed. An Indian cabinet panel will soon consider a new automobile policy that aims to set fresh investment guidelines for foreign firms wishing to manufacture vehicles in the country. Investments in making auto parts by a foreign vehicle maker will also be considered a part of the minimum foreign investment made by it in an auto-making subsidiary in India. The move is aimed at helping India emerge as a hub for global manufacturing and sourcing for auto parts. The policy sets an export target of $1 billion by 2005 and US$2.7 billion by 2010. The policies adopted by Government will increase competition in domestic market, motivate many foreign commercial vehicle manufactures to set up shops in India, whom will make India as a production hub and export to nearest market. Thus Tata Motors CV will have to face tough competition in near future, which might affect its growth negatively.

The purchase of Jaguar Cars is expected to help give Tata Motors a foothold in European and American markets.

With the unveiling of Tata Elegante during Geneva Motor Show, Tata Motors revealed its intention to enter the sedan and sports car markets.

Tata Indica assembled in Thailand and Argentina.

Tata Prima
The Luxury Sedan was designed by Pininfrina and has marked the entry of Tata into the international sedan market. The car is to be sold in India by 2013 and around the world by 2015 Tata Motors has expanded its production and assembly operations to several other countries including South Korea, Thailand, South Africa and Argentina.

 Mahindra

FUTURE CHALLENGES
and Mahindra: JV with ITEC, North American leader in heavy trucks.

M&M has formed a 51:49 JV called Mahindra International with ITEC, USA (parent Navistar International), to manufacture commercial vehicles and to bolster its position in the CV business. ITEC is the leader in medium and heavy trucks and buses in North America, and is the world's largest manufacturer of medium-duty diesel engines. Mahindra International aims to have a presence across the CV market (6-35 tonnes GVW) with variants of passenger transport, cargo and specialised load applications and is likely to start producing medium/heavy commercial vehicles from FY09.
Force

Motors Ltd: JV with MAN for manufacturing high-tonnage vehicles Force Motors has paired up with MAN in a 70:30 JV to manufacture high-tonnage and specialty vehicles, such as long-haul trucks, tippers, tractor trailers and multi-axle vehicles in the 16-32 tonne range at its Pithampur plant, with an initial capacity of 24,000 units per annum and at an investment of Rs7bn. The JV plans to sell nearly half of its production in the domestic market, while the rest is to be exported to the Middle East, Turkey, Russia, Asia and Africa. Further, the two companies have formed another JV to manufacture buses in India from end-2007.
Ashok Leyland: Acquisition of Czech Republic-based Avia. Ashok Leyland (ALL)

recently acquired the truck unit of Czech Republic-based Avia for US$35m. Avia manufactures 6-9 tonne LCVs and has a capacity of 20,000 units per annum. The acquisition has given ALL direct access to an entire range of Avia trucks, Avias press shop with dies and tools, welding lines, state-of-the-art paint shop and R&D facilities. ALL has also entered into technology agreements with Hino Motors of Japan and ZF of Germany to complement its in-house R&D efforts and developing complementary components and aggregates.
Suzuki: Suzuki through its subsidiary, Maruti Suzuki in the Indian market may also be

alarming. Maruti has aggressively launched family cars to undermine the Tata models.

MILESTONES
1945 Tata Engineering and Locomotive Co. Ltd. was established to manufacture locomotives and other engineering products. 1948 Steam road roller introduced in collaboration with Marshall Sons (UK). 1954 Collaboration with Daimler Benz AG, West Germany, for manufacture of medium commercial vehicles. The first vehicle rolled out within 6 months of the contract. 1959 Research and Development Centre set up at Jamshedpur. 1977 First commercial vehicle manufactured in Pune. 1983 Manufacture of Heavy Commercial Vehicle commences. 1985 First hydraulic excavator produced with Hitachi collaboration. 1986 Production of first light commercial vehicle, Tata 407, indigenously designed, followed by Tata 608. 1991 Launch of the 1st indigenous passenger car Tata Sierra.

One millionth vehicle rolled out. 1994 Launch of Tata Sumo - the multi utility vehicle. 1995 Mercedes Benz car E220 launched. 1996 Tata Sumo deluxe launched. 1997 Tata Sierra Turbo launched. 1998 Tata Safari - India's first sports utility vehicle launched. 2 millionth vehicles rolled out. Indica, India's first fully indigenous passenger car launched. 2001 Indica V2 launched - 2nd generation Indica. 100,000th Indica wheeled out. Launch of the Tata Safari EX 2002 2,00,000th Indica rolled out.

Launch of the Tata Sumo'+' Series Launch of the Tata Indigo. Tata Engineering signed a product agreement

with MG Rover of the UK.

2003 On 29th July, J. R. D. Tata's birth anniversary, Tata Engineering becomes Tata Motors Limited. 3 millionth vehicle produced. First CityRover rolled out 2004 Tata Motors and Daewoo Commercial Vehicle Co. Ltd. sign investment agreement and completes acquisition of Daewoo Commercial Vehicle Company Tata Daewoo Commercial Vehicle Co. Ltd. (TDCV) launches the heavy duty truck 'NOVUS' , in Korea Sumo Victa launched Indigo Marina launched Tata Motors lists on the NYSE 2005 Tata Motors rolls out the 500,000th Passenger Car from its Car Plant Facility in Pune The Tata Xover unveiled at the 75th Geneva Motor Show Branded buses and coaches - Starbus and Globus - launched Tata Ace, India's first mini truck launched The power packed Safari Dicor is launched Tata Motors launches Indica V2 Turbo Diesel. One millionth passenger car produced and sold Inauguration of new factory at Jamshedpur for Novus Launch of Tata Novus Launch of Novus range of medium trucks in Korea, by Tata Daewoo Commercial Vehicle Co. (TDCV) 2006 Tata Motors vehicle sales in India cross four million mark Indica V2 Xeta launched Passenger Vehicle sales in India cross one-million mark Tata Motors first plant for small car to come up in West Bengal Tata Motors and Fiat Group announce three additional cooperation agreements 2007 Construction of Small Car plant at Singur, West Bengal, begins on January 21 New 2007 Indica V2 range is launched Tata Motors and Thonburi Automotive Assembly Plant Co. (Thonburi), announce formation of a joint venture company in Thailand to manufacture, assemble and market pickup trucks. Roll out of 100,000th Ace Tata-Fiat plant at Ranjangaon inaugurated

Launch

of a new Upgraded range of its entry level utility vehicle offering, the Tata Spacio. Launch of Magic, a comfortable, safe, four-wheeler public transportation mode, developed on the Ace platform Launch of Winger, Indias only maxi-van Fiat Group and Tata Motors announce establishment of Joint Venture in India Launch of the Sumo Victa Turbo DI, the new upgraded range of its entry-level utility vehicle, the Sumo Spacio Tata Motors launches Indica V2 Turbo with dual airbags and ABS Launch of new Safari DICOR 2.2 VTT range, powered by a new 2.2 L Direct Injection Common Rail (DICOR) engine. Rollout of the one millionth passenger car off the Indica platform. 2008 Latest common rail diesel offering- the Indica V2 DICOR, launched. Indigo CS (Compact Sedan), worlds first sub four-metre sedan, launched. Launch of the new Sumo -- Sumo Grande, which combines the looks of an SUV with the comforts of a family car. Tata Motors unveils its People's Car, Nano, at the ninth Auto Expo. Xenon, 1-tonne pick-up truck, launched in Thailand. Tata Motors signs definitive agreement with Ford Motor Company to purchase Jaguar and Land Rover. Tata Motors completes acquisition of Jaguar Land Rover. Tata Motors introduces new Super Milo range of buses. Tata Motors is Official Vehicle Provider to Youth Baton Relay for The III Commonwealth Youth Games Pune 2008. Indica Vista the second generation Indica, is launched. Tata Motors launches passenger cars and the new pick-up in D.R. Congo. 2009 Tata Nano is launched. The peoples car.
Tata Marcopolo Motors, Dharwad plant begins production. Introduction of New World standard truck range. Launch of premium luxury vehicles - Jaguar XF, XFR and XKR and Land Rover Discovery 3, Range Rover Sport and Range Rover from Jaguar and Land Rover in India. Tata Nano wins the Indian Car of the Year (ICOTY) Award. Tata Motors launches the Sumo Grande MK II. Tata Motors begins distribution of Prima World truck. Tata Motors acquires remaining 79% in Hipo Carrocera. Tata Motors launches the next generation all-new Indigo Manza. FREELANDER 2 launched in India. Tata Motors introduces the all new Tata 407 Pickup, Tata Super Ace and Tata Ace EX. First Jaguar Land Rover showroom opens in India.

 (2011)

Mr. Ravi Kant to become Non-executive Vice-Chairman of Tata Motors on retirement, Mr. P.M. Telang to become Managing Director India Operations. Tata Nano draws over 2.03 lakh bookings. 2010 Tata Ace becomes India's first 1-lakh brand in goods commercial vehicles. Appointment of Mr. Carl-Peter Forster as Managing Director of Tata Motors. Jaguar Land Rover announces opening of its Dealership in New Delhi. Tata Motors to construct heavy truck plant in Myanmar under Government of India's Line of Credit. Tata Motors declared as the Commercial Vehicle Maker of the Year. Tata Motors Passenger Car Division launches Tata Motors Service Edge' for leading edge customer service. Tata Motors displays Tata Nano EV at the 80th Geneva Motor Show. Chief Minister of Punjab inaugurates Tata Motors supported State Institute of Automotive and Driving Skills. Chief Minister of Punjab inaugurates Tata Motors supported State Institute of Automotive and Driving Skills. Jaguar Land Rover announces Dr. Ralf Speth as Chief Executive Officer. Tata Motors appoints Mr. Carl-Peter Forster as Group CEO. Tata Motors Group displays the widest range of products and environment-friendly technologies at Auto Expo 2010. Tata Motors launches Magic Iris. On 26th April 2010, Tata Motors sold its 4 millionth Commercial Vehicle.

Jaguar celebrates 50 years of iconic E-Type Jaguar c-x75 scoops Louis Vuitton award in Paris Tata Pixel, new city car concept for Europe, displayed at the 81st Geneva Motor Show Range Rover Evoque wins Car Design of The Year. Tata Motors introduces the new Tata Indica eV2, the most fuel efficient car in India with 25 kmpl mileage. Tata Motors launches the Tata Magic IRIS, a 3-4 seater 4-wheel passenger carrier for public transportation. Tata Motors launches the Tata Ace Zip, a 600-kg micro truck for deep-penetration goods movement. Jaguar Land Rover inaugurates new vehicle assembly plant in Pune India

MANAGEMENT
Board of Directors
Ratan N Tata
Chairman

Ravi Kant
Vice-Chairman

N N Wadia S M Palia R A Mashelkar S Bhargava N Munjee V K Jairath R Sen Ralf Speth Carl-Peter Forster
Managing Director & Group CEO

P M Telang
Managing Director India Operations

Registered Office
Pantnagar, Sanand Jamshedpur, Pune, Lucknow, Pantnagar, Sanand Bombay House 24, Homi Mody Street Mumbai 400 001 Tel: +91-22-6665 8282

Works
Jamshedpur, Pune, Lucknow,

Fax: +91-22-6665 7799 Email: inv_rel@tatamotors.com

Management Team
Carl-Peter Forster, Managing Director & Group CEO P M Telang, Managing Director - India Operations C Ramakrishnan, Chief Financial Offi cer R Pisharody, President - Commercial Vehicles Business Unit T Leverton, Head, Advanced and Product Engineering S B Borwankar, Sr Vice President (Mfg Operations-CVBU) Prabir Jha, Sr Vice President (Human Resources) P Y Gurav, Sr Vice President (Corp Finance - Accts & Taxation) Girish Wagh, Head (Passenger Car Operations) S Ravishankar, Vice President (Engg Systems, ERC) B B Parekh, Chief (Strategic Sourcing) R Bhaskar, Plant Head -CVBU Vikram Sinha, Head (Car Plant - PCBU) A K Jindal, Head Engineering (Comm. Vehicles - ERC) R Ramakrishnan,Vice President (Commercial - PCBU) N Pinge, Vice President (Internal Audit) R Bagga, Vice President (Legal) A S Puri, Vice President (Govt Affairs & Collab)

Company Secretary
H K Sethna

Share Registrars
TSR Darashaw Limited 6-10, Haji Moosa Patrawala Industrial Estate, 20, Dr. E. Moses Road, Mahalaxmi, Mumbai-400 011

Tel: +91-22-6656 8484; Fax: +91-22-6656 8494 Email: csg-unit@tsrdarashaw.com

Solicitors
AZB & Partners; Mulla & Mulla & Craigie, Blunt & Caroe

Auditors
Deloitte Haskins & Sells (Registration No. 117366W)

Bankers
State Bank of India, Bank of America, Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Citibank N.A., Corporation Bank, Deutsche Bank, HDFC Bank, Hongkong and Shanghai Banking Corporation, ICICI Bank, Standard Chartered Bank, Union Bank of India, Punjab National Bank, Indian Bank, IDBI Bank, Karur Vysya Bank, Federal Bank, United Bank of India, Allahabad Bank, State Bank of Patiala, Andhra Bank, State Bank of Mysore, ING Vysya Bank

Corporate Identity Number (CIN)

L28920MH1945PLC004520

Works
Jamshedpur, Pune, Lucknow, Pantnagar, Sanand

AWARDS
PCBU bags Handa Golden Key Award. Tata Motors receives Uptime Champion Award 2007. Aggregates Business, CVBU, bags Best Supplier Award from ECEL. NDTV Profit Business Leadership Award. Tata Motors bags National Award for Excellence in Cost Management Tata Motors TRAKIT bags silver award for Excellence in Cost Management Tata Motors Pune CVBU has bagged the Golden Peacock National Quality Award. Tata Motors was awarded four prestigious honors, at the CNBC TV18-Auto Car. Tata Motors chosen as Indias Most Trusted Brand in Cars Business Today selects Mr. P.P Kadle as Indias Best CFO in 2005 Pune Foundry Division bags prestigious Green Foundry Award Tata Motors is Commercial Vehicle Manufacturer of the Year ACE bags Best Commercial Vehicle Design at the BBC-Top Gear Awards

Tata Motors bags the prestigious CII EXIM Bank award for business excellence Car Maker of the year Award for Tata Motors Tata Motors is Commercial Vehicle Manufacturer of the year. CFO of the Year Award 2004 awarded to Mr. Praveen P Kadle, Executive Director. Tata Motors wins Golden Peacock Award for Corporate Social Responsibility. Tata Motors Jamshedpur wins Energy Efficient Unit Award. Tata Motors wins the first CSIR Diamond Jubilee Technology Award. Tata Motors Jamshedpur & Lucknow win awards

Products of TATA Motors

[1] Passenger cars and utility vehicles

TATA SUMO GRANDE

TATA SAFARI

Indica Vista

The purchase of Jaguar and Land Rover is expected to help give Tata Motors gain a foothold in the European and American markets.

Tata relies on its subsidiaries for sales outside India. Seen here is the Range Rover Sport.

Tata Xenon is Tata's best selling vehicle in Europe.

Tata Prima concept car

Tata Nano Europa

Tata Starbus Low Floor 1610

Tata Marcopolo buses in the Delhi BRT.

Tata Aria

Tata Sierra (Discontinued) Tata Estate (Discontinued) Tata Sumo/Spacio Tata Sumo Grande Tata Safari Tata Indica Tata Vista Tata Indigo Tata Manza Tata Indigo Marina Tata Winger Tata Magic Tata Nano Tata Xenon XT Tata Aria Tata Venture Tata Iris

Concept vehicles

2000 Aria Roadster 2001 Aria Coupe 2002 Tata Indiva

2004 Tata Indigo Advent 2005 Tata Xover 2006 Tata Cliffrider 2007 Tata Elegante 2009 Tata Pr1ma 2010 Tata Versa 2010 Tata Essota 2011 Tata Pixel

Commercial vehicles

Tata Ace Tata TL/Telcoline/207 DI Pickup Truck Tata 407 Ex and Ex2 Tata 709 Ex Tata 809 Ex and Ex2 Tata 909 Ex and Ex2 Tata 1109 (Intermediate truck) Tata 1512 (Medium bus chassis) Tata 1612/1616 (Heavy bus chassis) Tata 1618 (Semi Low Floor bus chassis) Tata 1623 (Rear Engined Low Floor bus chassis) Tata 1613/1615 (Medium truck) Tata 2515/2516 (Medium truck) Tata Starbus (Branded Buses for city, inter city, school bus and standard passenger transportation) Tata Divo (Fully built luxury coach) Tata CityRide (12 20 seater buses for intra-city use) Tata 3015 (Heavy truck) Tata 3118 (Heavy truck) (82) Tata 3516 (Heavy truck) Tata 4018 (Heavy truck)

Tata 4923 (Ultra-Heavy truck) (64) Tata Novus (Heavy truck designed by Tata Daewoo) Tata Prima (The World Truck designed by Tata Motors and Tata Daewoo)

Military vehicles

Tata LSV (Light Specialist Vehicle) Tata Mine Protected Vehicle (44) Tata 2 Stretcher Ambulance Tata 407 Troop Carrier, available in hard top, soft top, 44, and 42 versions Tata LPTA 713 TC (44) Tata LPT 709 E Tata SD 1015 TC (44) Tata LPTA 1615 TC (44) Tata LPTA 1621 TC (66) Tata LPTA 1615 TC (42) Tata Winger Passenger Mini Bus

MARKETING STRATEGIES
1. LAUNCH OF TATA NANO
2. TATA unveiled its long awaited 1 Lakh rupee car (actually a little over 1 lakh after tax) for the 3. masses and they call it The Peoples Car. Its a sweet looking small car, just enough to take 4. four people around the city. 1 Lakh rupees roughly translate to 2500 rupees monthly installment 5. and because of this reason TATA is expect to sell record breaking numbers and leave Indian 6. roads blocked.

7. Following TATA Nano car specs in comparison with Maruti 800:

8. Overall Length of Nano is 3100 MM which is 7% shorter than Maruti 800 9. Overall Breadth of Nano is 1500MM which is 4% Wider than Maruti 800 10. Overall Height of Nano is 1600MM which is 14% Taller than Maruti 800 11. Overall inside Space of Nano is 21% Bigger than Maruti 800

12. Engine Capacity 623CC 2 Cylinders, Maruthi 800s got 3 Cylinders 13. Power 33BHP, less than Maruthi 800 14. Top Speed: 120 Kmph Top Speed Lower Than Maruti 800 15. Fuel efficiency is 20 Kmpl just as Maruti 800 16. TATA Nano will hit the roads and as it is a definite threat to Maruti 800. TATA stated that 17. the initial production of this car will be of 250,000 a year. After about four years of hard efforts 18. TATA Nano (1 lakh rupee car) was on road now.
19. The introduction of the Nano received media attention due to its targeted low price. The car is 20. expected to boost the Indian economy, create entrepreneurial-opportunities across India, as well as 21. expand the Indian car market by 65%. The car was envisioned by Ratan Tata, Chairman of the Tata Group 22. and Tata Motors, who has described it as an eco-friendly "people's car". Nano has been greatly 23. appreciated by many sources and the media for its low-cost and eco-friendly initiatives which include 24. using compressed-air as fuel and an electric-version (E-Nano). Tata Group is expected to massmanufacture 25. the Nano, particularly the electric-version, and, besides selling them in India, to also export 26. them worldwide.

27. Critics of the car have questioned its safety in India (where reportedly 90,000 people are 28. killed in road-accidents every year), and have also criticised the pollution that it would cause 29. (including criticism by Nobel Peace Prize winner Rajendra Pachauri). However, Tata Motors has 30. promised that it would definitely release Nano's eco-friendly models alongside the gasolinemodel. 31. The Nano was originally to have been manufactured at a new factory in Singur, West 32. Bengal, but increasingly violent protests forced Tata to pull out October 2008. Currently, Tata 33. Motors is reportedly manufacturing Nano at its existing Pantnagar (Uttarakhand) plant and a 34. mother plant has been proposed for Sanand Gujarat. The company will bank on existing dealer 35. network for Nano initially. The new Nano Plant could have a capacity of 500,000 units, 36. compared to 300,000 for Singur. Gujarat has also agreed to match all the incentives offered by 37.West Bengal government.

The Tata Nano is a rear-engined, four-passenger city car built by Tata Motors, aimed primarily at the Indian market. The car is very fuel efficient, achieving around 26.00km/l on the highway and around 22.00km/l in the city. It was first presented at the 9th annual Auto Expo on January 10, 2008, at Pragati Maidan in New Delhi. Nano had a commercial launch on March 23, 2009 and a booking period from April 9 to April 25, generating more than 200,000 bookings for the car. The sales of the car begin in July 2009, with a starting price of Rs 115,000 (rupees). This is cheaper than the Maruti 800, its main competitor and next cheapest Indian car priced at 184,641Rupees. DESIGN

DESIGN
Ratan Tata, the Chairman of Tata Motors, began development of the world's cheapest production car in 2003, inspired by the number of Indian families with two-wheeled rather than fourwheeled vehicles. The Nano's development has been tempered by the company's success in producing the low cost 4 wheeled Ace truck in May 2005. Contrary to speculation that the car might be a simple four-wheeled auto rickshaw, The Times of India reported the vehicle is "a properly designed and built car". The Chairman is reported to have said, "It is not a car with plastic curtains or no roof it's a real car. "To achieve its design goals, Tata refined the manufacturing process, emphasized innovation and sought new design approaches from suppliers. The car was designed at Italy's Institute of Development in Automotive Engineering with Ratan Tata requesting certain changes, such as the elimination of one of two windscreen wipers. Some components of the Nano are made in Germany by Bosch, such as Fuel Injection, brake system, Value Motronic ECU, ABS and other technologies. The Nano has 21% more interior space (albeit mostly as headroom, due to its tall stance) and an 8% smaller exterior compared to its closest rival, the Maruti 800. Tata offered the car in three versions: the basic Tata Nano Std; the Cx; and the Lx. The Cx and Lx versions each have air conditioning, power windows, and central locking. Tata has set its initial production target at 250,000 units per year. COST CUTTING FEATURES
The Nano's trunk does not open. Instead, the rear seats can be folded down to access the trunk

space. It has a single windscreen wiper instead of the usual pair. It has no power steering. Its door opening lever was simplified. It has three nuts on the wheels instead of the customary four. It only has one side view mirror. PRICE

Tata initially targeted the vehicle as "the least expensive production car in the world" aiming for a starting price of 100,000 rupees or approximately, despite rapidly rising material prices at the time. As of August 2009, material costs had risen from 19% to 29% over the cars development, and Tata faced the choice of: introducing the car with an artificially low price through government subsidies and taxbreaks forgoing profit on the car using vertical-integration to artificially boost profits on cars at the expense of their materials industries partially using inexpensive polymers or biodegradable plastics instead of a full metalbody raising the price of the car. NANO IS AVAILABLE IN THREE TRIM FEATURES:
The basic Tata Nano Std priced at 123,000 Rupees has no extras; The deluxe Tata Nano CX at 151,000 Rupees has air conditioning; The luxury Tata Nano LX at 172,000 Rupees has air conditioning, power windows and central

locking The Nano Europa, European version of the Tata Nano has all of the above plus a larger body, bigger 3-cylinder engine, anti-lock braking system (ABS) and meets European crash standards and emission norms.

The base model will have fixed seats, except for the driver's, which will be adjustable, while the deluxe and luxury models will get air conditioning and body coloured bumpers. TECHNICAL SPECIFICATION: According to Tata Group's Chairman Ratan Tata, the Nano is a 33 PS (33 hp/24 kW) car with a 623 cc rear engine and rear wheel drive, and has a fuel economy of 4.55 L/100 km (21.97 km/L, 51.7 mpg (US), 62 mpg (UK)) under city road conditions, and 3.85 L/100 km on highways ( 25.974 km/L, 61.1 mpg (US), 73.3 mpg (UK)). It is the first time a two-cylinder non opposed petrol engine will be used in a car with a single balance shaft. Tata Motors has reportedly filed 34 patents related to the innovations in the design of Nano, with powertrain accounting for over half of them. The project head, Girish Wagh has been credited with being one of the brains behind Nano's design. Much has been made of Tata's patents pending for the Nano. Yet during a news conference at the New Delhi Auto Expo, Ratan Tata pointed out none of these is revolutionary or represents earth-shaking technology. He said most relate to rather mundane items such as the two-cylinder engines balance shaft, and how the gears were cut in the transmission. Though the car has been appreciated by many sources, including Reuters due to "the way it has tweaked existing technologies to target an as-yet untapped segment of the market", yet it has been stated by the same sources that Nano is not quite "revolutionary in its technology", just low in price. Moreover, technologies which are expected of the new and yet-to-be-released car include a revolutionary compressed-air fuel system and an eco-friendly electric-version, technologies on which Tata is reportedly already working, though no official incorporation-date

for these technologies in the new car has been released. According to Tata, the Nano complies with Bharat Stage-III and Euro-IV emission standards. Ratan Tata also said, 'The car has passed the full-frontal crash and the side impact crash'. Tata Nano passed the required 'homologation tests with Pune-based Automotive Research Association of India (ARAI).This means that the car has met all the specified criteria for roadworthiness laid out by the government including emissions or noise & vibration and can now ply on Indian roads. Tata Nano managed to score around 24 km per litre during its homologation tests with ARAI. This makes Tata Nano the most fuel efficient car in India. Nano will be the first car in India to display the actual fuel mileage figures it recorded at ARAIs tests on its windshield. According to ARAI it conforms to Euro IV emission standards which will come into effect in India in 2010. REAR MOUNTED ENGINE: The use of a rear mounted engine to help maximize interior space makes the Nano similar to the original Fiat 500, another technically innovative "people's car". A concept vehicle similar in styling to the Nano, also with rear engined layout was proposed by the UK Rover Group in the 1990s to succeed the original Mini but was not put into production. The eventual new Mini was much larger and technically conservative. The independent, and now-defunct, MG Rover Group later based their Rover CityRover on the Tata Indica. Tata is also reported to be contemplating offering a compressed air engine as an option.

NANOS TECHNICAL SPECIFICATIONS

Engine: 2 cylinder petrol with Bosch multi-point fuel injection (single injector) all aluminium 33 horsepower (25 kW) 624 cc (38 cu in ) Value Motronic engine management platform from Bosch 2 valves per cylinder overhead camshaft Compression ratio: 9.5:1 bore stroke: 73.5 mm (2.9 in) 73.5 mm (2.9 in) Power: 33 PS (33 hp/24 kW) @ 5500 rpm Torque: 48 Nm (35 ftlbf) @ 2500 rpm

Layout and Transmission:

Rear wheel drive 4-speed manual transmission

Steering:

Mechanical rack and pinion Turning radius: 4 metres Acceleration: 0-70 km/h (43 mph): 14 seconds Maximum speed: 120 km/h (75 mph) Fuel efficiency (overall): 20 kilometres per litre (5 litres per 100 kilometres (56 mpg-imp; 47 mpg-US)) Seat belt: 4 Trunk capacity: 150 L (5.3 cu ft)

Performance:

Body and dimensions:

Suspension, Tires &Brakes: Front brake: drum Rear brake: drum Front track: 1,325 mm (52.2 in) Rear track: 1,315 mm (51.8 in) Ground clearance: 180 mm (7.1 in) Front suspension: McPherson strut with lower A arm Rear suspension: Independent coil spring 12-inch wheels.

2.Modification in TATA Sumo:

The Toyota Qualis and now competes with Chevrolet Tavera. The discontinuation of Qualis to launch the Toyota Innova proved advantageous to Tata Sumo. The Sumo has seen a series of changes in terms of refinement in this decade. It has been the favorite choice for cab owners, as it is rugged and affordable. The Tata Sumo has been enjoying its position in the MUV market since 1994. It had stiff competition with new Sumo Victa has been portrayed as a family lifestyle vehicle, but in fact is a carryover of the old Sumo, with some cosmetic changes. The Sumo comes in nine Victa variants: CX 10/7 Str, DI CX 7/9/10 Str, DI EX 7/9 Str, DI GX 7/9 Str, DI LX 7/9 Str, EX 10/7Str, GX 7 Str, GX TC 7 Str, and LX 10/7 Str. All variants, except the Victa DI variants, are powered by a 2-litre Inline-4 diesel engine. The GX and GX TC variants get a 2-litre turbocharged diesel engine that generates 89 bhp. The Victa DI variants get a 3-litre turbocharged diesel engine. Refinement, both internal and external, is evident across the variants. Tata's latest three variants under the Sumo Grande' category are LX, EX and GX available in 2-seater, 7- seater and 8-seater configurations. Sumo Grande boasts of a powerful 2.2-L Direct Injection Common Rail (DICOR) engine.

SUMO SPACIO
A no-frills version called the Tata Spacio is also available. It is equipped with a 3000 cc DI diesel engine sourced from the popular LCV Tata 407. The prominent visual difference was the presence of round headlamps instead of the rectangular lamps. A soft top version of the Spacio called the Spacio ST was also introduced for the rural markets. After the facelift, the Spacio inherited the styling elements of the older Tata Sumo. In 2007, the Victa became available with the Spacio's 3000 cc engine. And in terms of styling, the positioning of the spare wheel was changed from the rear tailgate to the underbody of the vehicle. This model comes in 8 and 10 seater variants and is very much popular with private transporters & contract taxi vendors because of its lower cost.

SUMO VICTA
The new Sumo Victa released in 2004 featured power windows, power steering, dual AC, central locking, clear lens multi reflector head lamps, crystal finish tail lamp cluster, anti glare ORVMS with electronic control, remote keyless entry, tachometers, LCD monitors, voice warnings, multiple trip odometers are all either standard or available options.

New TATA Sumo (SUMO GRANDE)

Tata launched the Sumo Grande on January 10, 2008 powered with a new generation 2200 cc 120 bhp (89 kW; 122 PS) DICOR (Direct Injection Common Rail) engine. It is the most up market version of the Sumo available and features completely different body work. It lies below the Tata Safari in Tata's product portfolio.

SUMO GRANDE Specifications

Top speed 148 km/h (92 mph) 0 to 100 km/h (62 mph) 17.6 s Engine Type 2.2L DICOR, 32 Bit ECU and Variable Geometry Turbocharger Displacement (Capacity) 2179 cc Transmission 5-speed manual Power 120 PS (118 hp/88 kW) @ 4000 rpm Torque 250 Nm (184 lbft) @1500 rpm Valve Mechanism DOHC

Cylinder Configuration Inline 4 Fuel Type Diesel

Fuel Tank Capacity (Ltrs.) 65

Minimum Turning Radius 5.25 meters Wheel size 16 inch Tyres 235/70 R 16 (tubeless) Ground Clearance 205 mm / 8.07 inches Steering Power Steering, Tiltable & Collapsible Colours Zephyr Green, Marine Blue, Sunset Orange, Mineral Red, Arctic White, Arctic Silver, Quartz Black. (7 Colours)

TATA SUMO GRANDE (More than meets an eye)

NEW VERSION OF INDIGO, INDIGI DICOR

Dicor Variants
The DICOR (common rail diesel) version of Tata Indigo is available in two variants which has already hit the bull's eyes. The beefy & bony structured sedan has the capacity to deliver maximum torque of 140Nm @ 1800 - 3000 rpm. The Indigo Dicor from Tata Motors has been made apt for Indian roads especially with its driver & co passengers oriented positive attributes such as: Anti-submarine front seats New electronic instrument cluster with engine RPM meter Rear Seat with double folding backrest Video player with MP3: with headrest mounted LCD screens 1.4-litre as rail diesel engine Indigo LX Dicor Tata Indigo LX Dicor on the other hand features manually operated with chrome strip outer rear view window, black dials with chrome rings & star check as the new pattern for its console & AC fascia.

Indigo LS Dicor Tata Indigo LS Dicor features manually operated outer rear view mirror, black dials, & Benz silver as the new pattern for console & AC fascia. It has no mounted LCD screens.

Mileage (City) : 14.75 kmpl Mileage (Highways) : 18.35 kmpl

ENGINES
Petrol 1396 cc MPFI Petrol Engine with 32-Bit Microprocessor Max. Power - 85 PS @5500 rpm Max. Torque - 12 Kgm @ 3500 rpm Turbo-charged 1405 cc Indirect Injection Engine with Intercooler Max. Power -70 PS @ 4500 rpm Max. Torque - 13.5 Kgm @ 2500 rpm 32-bit microprocessor based 1396 cc DICOR (Direct Injection Common Rail) 16-valve engine with Dual Over Head Camshafts and a Variable Geometry Turbocharger (VGT) Max. Power-70 PS@4000 rpm Max. Torque - 140Nm@1800-3000 rpm

Diesel

Dicor

4.Tapping of Rural markets:

According to the National Council for Applied Economic Research, or NCAER, rural India accounts for 70% of Indias population, 56% of the national income, 64% of the total expenditure and one-third of the total savings. So, the difficulties faced in cracking these markets pale before the huge potential they offer a company. Of the total sales (of consumer goods), around 55% come from rural India, and going ahead, the contribution is likely to grow. NCAER data suggests that in real terms, at 1999 prices, the size of the rural economy will be about Rs16 trillion in 2012-13 compared with Rs12 trillion in 2007-08. The share of non-farm income will be about two-thirds of the rural economy by 2012-13. Noticing this huge potential Tata motors now plans to tap the rural market, 60 per cent of which runs on cash. Tata motors ltd. is working on strategies to make inroads into these markets.

SWOT Analysis - Tata Motors Limited

SWOT Strengths, Weaknesses, Opportunities, Threat STRENGTHS
The internationalization strategy so far has been to keep local managers in new acquisitions, and to only transplant a couple of senior managers from India into the new market. The benefit is that Tata has been able to exchange expertise. For example after the Daewoo acquisition the Indian company leaned work discipline and how to get the final product 'right first time.' The company has a strategy in place for the next stage of its expansion. Not only is it focusing upon new products and acquisitions, but it also has a programme of intensive management development in place in order to establish its leaders for tomorrow. The company has had a successful alliance with Italian mass producer Fiat since 2006. This has enhanced the product portfolio for Tata and Fiat in terms of production and knowledge exchange. For example, the Fiat Palio Style was launched by Tata in 2007, and the companies have an agreement to build a pick-up targeted at Central and South America.

WEAKNESS
The company's passenger car products are based upon 3rd and 4th generation platforms, which put Tata Motors Limited at a disadvantage with competing car manufacturers. Despite buying the Jaguar and Land Rover brands (see opportunities below); Tat has not got a foothold in the luxury car segment in its domestic, Indian market. Is the brand associated with commercial vehicles and low-cost passenger cars to the extent that it has isolated itself from lucrative segments in a more aspiring India? One weakness which is often not recognized is that in English the word 'tat' means rubbish. Would the brand sensitive British consumer ever buy into such a brand? Maybe not, but they would buy into Fiat, Jaguar and Land Rover.

OPPORTUNITIES
In the summer of 2008 Tata Motor's announced that it had successfully purchased the Land Rover and Jaguar brands from Ford Motors for UK 2.3 million. Two of the

World's luxury car brand have been added to its portfolio of brands, and will undoubtedly off the company the chance to market vehicles in the luxury segments. Tata Motors Limited acquired Daewoo Motor's Commercial vehicle business in 2004 for around USD $16 million. Nano is the cheapest car in the World - retailing at little more than a motorbike. Whilst the World is getting ready for greener alternatives to gas-guzzlers, is the Nano the answer in terms of concept or brand? Incidentally, the new Land Rover and Jaguar models will cost up to 85 times more than a standard Nano! The new global track platform is about to be launched from its Korean (previously Daewoo) plant. Again, at a time when the World is looking for environmentally friendly transport alternatives, is now the right time to move into this segment? The answer to this question (and the one above) is that new and emerging industrial nations such as India, South Korea and China will have a thirst for low-cost passenger and commercial vehicles. These are the opportunities. However the company has put in place a very proactive Corporate Social Responsibility (CSR) committee to address potential strategies that will make is operations more sustainable. The range of Super Milo fuel efficient buses are powered by super-efficient, eco-friendly engines. The bus has optional organic clutch with booster assist and better air intakes that will reduce fuel consumption by up to 10%.

THREATS
Other competing car manufacturers have been in the passenger car business for 40, 50 or more years. Therefore Tata Motors Limited has to catch up in terms of quality and lean production. Sustainability and environmentalism could mean extra costs for this low-cost producer. This could impact its underpinning competitive advantage. Obviously, as Tata globalizes and buys into other brands this problem could be alleviated. Since the company has focused upon the commercial and small vehicle segments, it has left itself open to competition from overseas companies for the emerging Indian luxury segments. For example ICICI bank and DaimlerChrysler have invested in a new Punebased plant which will build 5000 new Mercedes-Benz per annum. Other players developing luxury cars targeted at the Indian market include Ford, Honda and Toyota. In fact the entire Indian market has become a target for other global competitors including Mahindra and Mahindra, Maruti Udyog, General Motors, Ford and others.

Rising prices in the global economy could pose a threat to Tata Motors Limited on a couple of fronts. The price of steel and aluminum is increasing putting pressure on the costs of production. Many of Tata's products run on Diesel fuel which is becoming expensive globally and within its traditional home market.

FINANCIAL ANALYSIS

FINANCIAL OVERVIEW Balance sheet

Mar ' 11 Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07

Sources of funds
Owner's fund Equity share capital Share application money Preference share capital Reserves & surplus 634.65 3.06 19,375.59 570.60 14,208.55 514.05 11,855.15 385.54 7,428.45 385.41 6,458.39

Loan funds
Secured loans Unsecured loans Total 7,766.05 8,132.70 35,912.05 7,742.60 8,883.31 31,405.06 5,251.65 7,913.91 25,534.76 2,461.99 3,818.53 14,094.51 2,022.04 1,987.10 10,852.94

Uses of funds
Fixed assets Gross block 21,883.32 18,416.81 13,905.17 10,830.83 8,775.80

Mar ' 11 Less : revaluation reserve Less : accumulated 8,466.25 depreciation Net block Capital work-inprogress 13,417.07 4,058.56

Mar ' 10 24.63

Mar ' 09 25.07

Mar ' 08 25.51

Mar ' 07 25.95

7,212.92 11,179.26 5,232.15 22,336.90

6,259.90 7,620.20 6,954.04 12,968.13

5,443.52 5,361.80 5,064.96 4,910.27

4,894.54 3,855.31 2,513.32 2,477.00

Investments 22,624.21

Net current assets

Current assets, loans & advances Less : current liabilities & provisions Total net current assets Miscellaneo us expenses not written Total 14,090.61 12,329.48 10,836.58 10,781.23 10,318.42

18,278.40

19,672.73

12,846.21

12,029.80

8,321.20

-4,187.79

-7,343.25

-2,009.63

-1,248.57

1,997.22

35,912.05

31,405.06

2.02 25,534.76

6.05 14,094.51

10.09 10,852.94

Notes:
Book value of unquoted 22,275.15 investments Market value of 379.16 quoted 21,991.93 12,358.84 4,145.82 2,117.86

345.53

558.32

2,530.55

1,323.08

Mar ' 11 investments Contingent 4,798.83 liabilities Number of equity 6346.14 sharesoutsta nding (Lacs)

Mar ' 10

Mar ' 09

Mar ' 08

Mar ' 07

3,708.33

5,433.07

5,590.83

5,196.07

5705.58

5140.08

3855.04

3853.74