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78
Sixty-Seventh Annual Report 2011-2012
Cost of material consumed (including change in stock)
Cost of material consumed increased from 64.7% to 66.1% of
net revenue. The increase is mainly attributable to product
mix, increase input cost and import duties that are not fully
absorbed through pricing.
Employee Cost
is
`
12,298.45 crores in FY 2011-12 as
compared to
`
9,342.67 crores in FY 2010-11, an increase by
`
2,955.78 crores in absolute terms. As a percentage of net
revenue it reduced from 7.6% to 7.4% in the current year. The
iCHECKIT. TTL has its interanational headquarters in Singapore,
with regional headquarters in the United States (Novi ,
Michigan), India (Pune) and the UK (Coventry). TTL has a
combined workforce of around 5,000 professionals serving
clients worldwide from facilities in North America, Europe
and Asia-Pacific region. TTL responds to customers’ need
through its subsidiary companies and through its three offshore
development centers.
Financial performance on a consolidatedbasis
Tata Motors Group primarily operates in the automotive
segment. The acquisition of Jaguar Land Rover enabled the
Company to enter the premium car market in developed
markets such as the UK, USA and Europe and in growing
markets like China and Russia. The Company continues to focus
on profitable growth opportunities in global automotive
business, through new products and market expansion. The
Company will also continue to focus on integration, and synergy
through sharing of resources, platforms, facilities for product
development and manufacturing, sourcing strategy, mutual
sharing of best practices.
The business segments are (i) automotive operations and (ii) all
other operations. The automotive operations include all
activities relating to development, design, manufacture,
assembly and sale of vehicles including financing thereof, as
well as sale of related parts and accessories. The Company
provides financing for vehicles sold by dealers in India. The
vehicle financing is intended to drive sale of vehicles by
providing financing to the dealers customers and as such is an
integral par t of automotive business. The automotive
operations segment is further divided into Tata Motors and
other brand vehicles (including spares and financing thereof )
and Jaguar Land Rover. The other operations business segment
includes information technology, machine tools and factory
automation solutions and investment business.
The Revenue from operations net of excise duty on a
consolidated basis, has recorded a growth of 35.6% in FY 2011-
12 to
`
1,65,654.49 crores. The increase is mainly attributable
to growth in automotive revenue both at Tata Motors and
Jaguar Land Rover businesses. Automotive operations segment
accounted for 98.8% and 99.3% of total revenues in FY 2011-
12 and FY 2010-11, respectively. For FY 2011-12, revenue
from automotive operations before inter-segment eliminations
was
`
1,64,604.28 crores compared to
`
1,21,238.27 crores for
FY 2010-11. (A reference may be made to review of
performance of Tata Motors and Jaguar Land Rover business
discussed above). The analysis of performance on consolidated
basis is given below:-
Percentage of Turnover
FY 2011-12 FY 2010-11
Revenue from Operations net of
100.0
100.0
excise duty
Expenditure:
- Cost of material consumed
(including change in stock)
66.1
64.7
- Employee Cost
7.4
7.6
- Manufacturing and other expenses
17.2
17.8
- Amount Capitalised
(5.0)
(4.7)
Total Expenditure
85.7
85.4
Other Income
0.4
0.3
Profit before Exceptional Item,
Depreciation and amortisation,
Interest and Tax
14.7
14.9
Depreciation and Amortization
(including product development /
engineering expenses written off )
4.2
4.6
Finance costs
1.8
2.0
Exceptional item - loss / (gain)
0.5
(0.2)
Profit before Tax
8.2
8.5
(
`
in crores)
FY 2011-12 FY 2010-11
Consumption of raw materials and
components
100,797.44 70,453.73
Purchase of product for sale
11,205.86 10,390.84
Change in finished goods and
Work-in-progress
(2,535.72)
(1,836.19)
Total
1,09,467.58 79,008.38