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81
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS
FINANCIALS (123-204)
The above includes, provision for warranty of
`
5,252.17 crores
as at March 31, 2012, which increased by
`
1,125.98 crores
mainly on account of volume growth. The provision for
employee benefit schemes was
`
3,451.37 crores as at March
31, 2012, as compared to
`
2,773.27 crores as at March 31,
2011, the increase was on account of change in actuarial
assumption factors.
Other current liabilities
were
`
19,069.78 crores as at March31,
2012 as compared to
`
8,984.92 crores as at March 31, 2011.
These mainly include liability towards vehicles sold under
repurchase arrangements, liability for capital expenditure,
statutory dues, and current liability of long term debt and
advance / progress payment from customers. The increase is
mainly due to increase in current maturities of long term
debt explained above.
FixedAssets:
The increase (net of depreciation) in the tangible assets of
`
5,233.33 crores as at March 31, 2012, mainly represents
establishment of new production capability for Evoque at
Halewood, plant at Dharwad and other additions towards
capacity / new product plans of the Company. The increase
(net of amortization) in the intangible assets was
`
7,758.12
crores is mainly attributable to new product
development projects.
Investments (Current +Non current)
increased to
`
8,917.71
crores as at March 31, 2012 as compared to
`
2,544.26 crores
as at March 31, 2011. The net increase of
`
6,373.45 crores
is mainly attributable to surplus funds parked by Jaguar
Land Rover in mutual funds of GB£ 875 million (equivalent
`
7,133.40 crores).
Deferred tax assets
have gone up to
`
4,539.33 crores as at
March 31, 2012 from
`
632.34 crores as at March 31, 2011. The
increase is consequent to recognition of credit for tax losses
by Jaguar Land Rover.
Loans andAdvances
(
`
in crores)
As at
March 31,
2012
As at
March 31,
2011
Long term provisions
6,071.38
4,825.64
Short term provisions
6,770.38
5,131.49
Total
12,841.76 9,957.13
(
`
in crores)
As at
March 31,
2012
As at
March 31,
2011
Change
Tangible assets
(including capital
work-in-progress)
30,240.09 25,006.76
5,233.33
Intangible assets
(including assets under
development)
25,972.41 18,214.29
7,758.12
Total
56,212.50 43,221.05 12,991.45
(
`
in crores)
As at
March 31,
2012
As at
March 31,
2011
Long term loans and advances
13,657.95
9,818.30
Short term loans and advances
11,337.22
8,023.92
Total
24,995.17 17,842.22
Long term loans and advances includes MAT credit entitlement
of
`
1,451.45 crores as at March 31, 2012 (
`
1,158.16 crores as at
March 31, 2011) and receivables towards vehicle financing by
Tata Motors Finance Ltd
`
10,339.93 crores as at March 31, 2012,
as compared to
`
6,791.35 crores as at March 31, 2011.
Short term loans and advances have increased mainly due to
vehicle financing by
`
2,103.47 crores and
`
1,234.50 crores
due to VAT and other entitlement from Government.
Current Assets
increased to
`
64,461.47 crores as at March 31,
2012 from
`
42,088.82 crores as at March 31, 2011.
As of March 31, 2012, inventories stood at
`
18,216.02 crores as
compared to
`
14,070.51 crores as at March 31, 2011. The
increase is mainly attributable to volumes. The increase in
finished goods inventory was
`
3,024.97 crores which was in
line with the volume growth and in terms of number of days
of sales, represented 29 days inventory in FY 2011-12 as
compared to 31 days in FY 2010-11.
Trade Receivables (net of allowance for doubtful debts) were
`
8,236.84 crores as at March 31, 2012, representing an increase
of
`
1,711.19 crores, which was attributable to increase in sales.
The allowances for doubtful debts were
`
326.21 crores as at
March 31, 2012 against
`
236.77 crores as at March 31, 2011. In
certain markets trade receivables have gone up mainly due to
delays in payment by government owned transport companies.
FINANCIAL HIGHLIGHTS (32-45)