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10
CORPORATE OVERVIEW
CHAIRMAN’S MESSAGE
Dear Shareholders,
It is my honour and privilege to interact with you as
the Chairman of the Board at Tata Motors and its British
subsidiary Jaguar Land Rover.
The automotive industry is going through multiple
changes from different dimensions – changing regulatory
and environmental standards as well as technological
disruptions and the industry is also witnessing
increased competition.
From your Company’s point of view JLR has posted
an excellent performance but the performance of
the domestic segment has been a major concern.
The commercial vehicle segment has witnessed a
continued decline in market share and the passenger car
performance has been muted.
Our consolidated net revenues declined by 1.2% to
`
269,850 crore for the 12 months to March 31st, 2017 and
our consolidated profit before tax for the year fell sharply
to
`
9,315 crore, compared with
`
14,126 crore in the prior
year. Our standalone net revenues increased by 3.7% to
`
44,477 crore for the 12 months to March 31st, 2017 and
our standalone loss before tax for the year fell to
`
2,421
crore, compared with
`
67 crore in the prior year.
Jaguar Land Rover represents world-class quality, reliability
and performance through its exceptional product range.
The Company delivered a 9.2% increase in full year
revenues to GBP 24.3 billion in the last financial year, and
reported pre-tax profits up 3.4% at GBP 1.6 billion.
In the domestic market, the market share in both the
Commercial Vehicles and Passenger Vehicles have declined
significantly. The market share for CV segment has fallen
to 44.4% from a high of 59.4% in FY 2011-12, while market
share for PV declined to 5.2% from 13.1% in the same
period. Overall, delays in new product launches as well
as lack of adequate responsiveness to the competitive
environment and an unsustainable cost structure have
contributed to this performance.
In the domestic business segment, business turnaround
is the need of the hour and management is working
We have to bring a renewed focus and energy to
improve our market share, reduce our cost base,
streamline our supply chain and ensure timely
delivery of new products to market.