59
Notice
Directors’Report
(53-68)
Management Discussion & Analysis
Corporate Governance
Secretarial Audit Report
behavior of the drivers. The Company launched health brand logo
‘HealthPlus - Because you matter!’
to drive employee health
initiatives. Series of initiatives like awareness sessions, mailers, etc.
have been conducted under this initiative. The Company has come
up with a Health and Wellness manual.
The
Jaguar Land Rover
business has recently restated its
commitment of Safety and well-being. The philosophy of this
commitment states that the company strives to continuously
improve working conditions and promote safe working practices
to ensure the safety and well-being of its employees and the
wider communities which it engages with. 2013 saw the launch of
Jaguar Land Rover’s strategic direction on Safety and well-being,
Destination Zero – A Journey to Zero Harm
. The activities to deliver
Zero Harm are underpinned with everyone understanding and
taking a responsibility for their own and their fellow workers safety
and well-being. Health promotion activities take place at all
Jaguar
Land Rover
locations, the active use of
‘WellPoint Kiosks’
during FY
2013-14 was well received.
At
TDCV Korea
, the accident rate was 1.23% as against 0.18%
achieved last year. The increase in accident rate is on account of
Muscular Disease which TDCV is incorporating from this year as
directed by government body. The safety index was 2.74 against
2.09 achieved last year.
TMTL, Thailand
, completed more than
two years of accident free operations. Safety Assessment and Safety
Training (on Safety Observations and Leading Safety Efforts) were
conducted in Korea and Thailand in June 2013. At
TMSA, South
Africa
, a comprehensive Health & Safety Manual was released,
which had the Health & Safety policy, all SOP’s (Standard Operating
Procedures), contingency plans, etc. for TMSA. Safety audits have
been initiated with involvement of management employees which
is being conducted by an external agency, NOSA.
The Company has continuously endeavoured towards improving
gender diversity and creating a safe, just and fair workplace for
its employees. The “Sexual Harassment Avoidance and Redressal
Policy(SHAR)” of the Company is in line with the Tata Code of
Conduct and under this Policy an Apex committee at the corporate
centre and location specific committees at local level, have been
formed with set guidelines to address issues of sexual harassment
at the work place towards any woman associates. The Company is
committed to providing equal opportunities without regard to their
race, caste, sex, religion, colour, nationality, disability, etc. All women
associates (permanent, temporary, contractual and trainees) as well
as any women visiting the Company’s office premises or women
service providers are covered under this policy. All employees are
treated with dignity with a view to maintain a work environment free
of sexual harassment whether physical, verbal or psychological.
During the year FY 2013-14, the Company has received 20
complaints on sexual harassments and of which 19 were disposed
off. 17 cases from these have been substantiated and appropriate
action taken. 32 workshops or awareness program were carried out
against sexual harassment.
FINANCE
During the year, the free cash flows for Tata Motors Group were
`
9,226 crores, post spend on capex, design and development of
`
26,925 crores. Tata Motors Group’s borrowing as on March 31,
2014, stood at
`
60,642 crores (FY 2012-13:
`
53,716 crores). Cash and
bank balances and investments in mutual funds stood at
`
39,206
crores (FY 2012-13:
`
28,624 crores). With healthy profitability and
cash flow generation, the Consolidated Net Automotive Debt to
Equity Ratio stood at 0.07:1 as on March 31, 2014, as compared to
0.24:1 on March 31, 2013.
Cash flows from operations were
`
2,463 crores for standalone
operations of the Company. Spend on capex, design and
development were
`
3,094 crores (net). The borrowings of the
Company as on March 31, 2014 stood at
`
15,053 crores (FY 2012-13:
`
16,799 crores). Cash and bank balances and investments in mutual
funds stood at
`
226 crores (FY 2012-13:
`
822 crores).
During the year, the Company issued notice on April 16, 2013 to
the holders of 4% Foreign Currency Convertible Notes, giving them
time till June 10, 2013, to elect at their option to either convert the
bond into equity or to receive redemption proceeds as per the terms
of the indenture. Consequent upon exercise of conversion option,
aggregating US$74.10 million, the Company allotted 28,549,566
Ordinary Shares/ Shares represented by ADSs.
The Company issued rated, listed, unsecured, non-convertible
debentures of
`
1,100 crores.
The Company repaid Tranche 3 of
`
1,800 crores of Secured, Rated,
Credit Enhanced, Listed, 2% Coupon Non-Convertible Debentures
(NCDs) alongwith premiumon redemption of
`
658.05 crores. Further,
the Company also repaid
`
362.19 crores forming part of the public
fixed deposit scheme launched in December 2008.
