Statutory Reports
Corporate Overview
69th Annual Report 2013-14
62
Financial Statements
JaguarLandRover introducedworld’sfirsthybridelectricvehicle
with a diesel engine by bringing down fuel consumption to
6.41/100 km. which only few years ago, seemed to be totally
unachievable in a vehicle size of Range Rover.
Introduction of InControl Apps in the Cars manufactured by
Jaguar Land Rover to minimize driver distractions.
Collaborative innovation through Investment in a new UK
advanced research facility, the National Automotive Innovation
Centre providing dedicated facilities for an expanded Jaguar
Land Rover Advanced Research Team.
SUBSIDIARY AND ASSOCIATE COMPANIES
Tata Motors announces consolidated financial results on a quarterly
basis. As required under the Listing Agreement with the Stock
Exchanges, Consolidated Financial Statements of the Tata Motors
Group are attached.
Pursuant to the provisions of Section 212(8) of the Companies Act,
1956 (the Act), the Ministry of Corporate Affairs vide its General
Circular No 2/2011 dated February 8, 2011, has granted a general
exemption subject to certain conditions to holding companies
from complying with the provisions of Section 212 of the Act,
which requires the attaching of the Balance Sheet, Profit & Loss
Account and other documents of its subsidiary companies to its
Balance Sheet.
Accordingly, the said documents are not being included in this
Annual Report. The main financial summaries of the subsidiary
companies are provided under the section ‘Subsidiary Companies:
Financial Highlights for FY 2013-14’ in the Annual Report. The
Company will make available the said annual accounts and related
detailed information of the subsidiary companies upon the request
by any member of the Company or its subsidiary companies. These
accounts will also be kept open for inspection by any member
at the Registered Office of the Company and the subsidiary
companies.
Subsidiary Companies
Tata Motors had 70 (direct and indirect) subsidiaries (10 in India and
60 abroad) as on March 31, 2014, as disclosed in the accounts.
During the year, the following changes have taken place in subsidiary
companies:
Subsidiary companies formed/acquired:
Tata Technologies Inc. acquired Cambric Holdings Inc., which
included its subsidiaries, namely Cambric Corporation, Cambric
Limited, Cambric Consulting SRL, Cambric GmbH, Cambric UK
Limited, Cambric Managed Services Inc., Midwest Managed
Services - all indirect subsidiaries of Tata Technologies Limited.
Tata Technologies incorporated Cambric Manufacturing
Technologies (Shanghai) Co. Limited.
Land Rover Belux SA/NV merged with Jaguar Belux NV
and changed its name from Jaguar Belux NV to Jaguar Land
Rover Belux.
All business and assets of Land Rover were acquired by Jaguar
Land Rover Limited except Jaguar Land Rover Automotive
Trading (Shanghai) Co. Ltd.
Business of Land Rover Exports Limited was transferred to
Jaguar Land Rover Exports Limited.
Companies ceasing to be subsidiary companies/ ceased
operations:
Tata Hispano Motors Carrocera S.A. wound down factory and
manufacturing activity but still exists as a subsidiary.
Name changes
Land Rover to Jaguar Land Rover Holdings Limited
Jaguar Land Rover Exports Limited to JLR Nominee Company
Limited
Besides the above, Jaguar Land Rover continued to integrate /
restructure legal entities for manufacturing and for exporting
globally as combined brand legal entities. Other than the above,
there has been no material change in the nature of the business of
the subsidiary companies.
Associate companies/Joint Ventures
As at March 31, 2014, Tata Motors had 6 associate companies and 5
Joint Ventures as disclosed in the accounts.
The accounting of subsidiaries, associates and joint ventures have
been done in consolidated financial statments in accordance with
the Accounting Standards.
ENERGY, TECHNOLOGY & FOREIGN EXCHANGE
Details of energy conservation and research and development
activities undertaken by the Company alongwith the information in
