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Corporate Overview
Financial Statements
Statutory Reports
84
72nd Annual Report 2016-17
Since it’s inception, the programme has reached out to
2,313 schools in 299 cities/towns covering over 96,586
school bus staff.
Passenger Vehicles
The domestic Passenger Vehicle Industry grew by 9.6% during Fiscal
2017. Correction in fuel prices and easing financing cost has resulted
in lower operating cost, which should further aid domestic growth in
near to medium term. Industry sales crossed 3 million milestone for
the first time during the year. The Company’s Passenger Vehicles sales
were higher by 23.5% at 157,020 vehicles, registering a 5.2% market
share. The Company sold 137,175 cars (higher by 28.4%) and 19,845
utility vehicles and vans, (lower by 2.2%). In the Utility Vehicle segment,
competitive activity intensified with multiple new launches mainly in
the soft-roader category. The Company has taken various initiatives
to improve its performance such as product refreshes/launch
programs, operational efficiency, dealer effectiveness, working capital
management and restructuring customer facing functions.
Some of the highlights of this year’s performance were:
Product launches continued during the Fiscal.
Tiago was launched in April 2016, with latest technological
advancements and design engineering.
Tata Hexa was launched in January 2017, with Automatic and
Manual Gearbox, new design language and class leading
features.
Tigor Compact Sedan was launched towards the end of March
2017.
The above new product launches were in-line with the Company’s
objective of taking the brand to a higher level, while making it
relevant for the younger buyer. The Company continued to focus on
building brand strengths, refreshing products and enhancing sales
and service experience. The Company expanded it’s new look, stylish,
tech savvy best in class flagship Passenger Vehicle showrooms, for
superior customer experience
The Company has signed a contract for supply of 3,192 units of the
Tata Safari Storme 4×4 to the Indian Armed Forces, under a new
category of vehicles – GS800 (General Service 800).
Exports
The Company exported 64,221 vehicles (Fiscal 2016: 58,058 vehicles)
comprising 60,184 units of Commercial Vehicles and 4,037units of
Passenger Vehicles during Fiscal 2017.
Export of
Commercial Vehicles
grew by 11.3% in Fiscal 2017 with
60,184 units exported compared to 54,052 in Fiscal 2016, crossing
60,000 shipments for the first time and the highest ever till date.
The traditional markets of SAARC remained stronger than last year
growing by 21.5%with Sri Lanka, Bangladesh and Nepal contributing
to the growth. However, the mid-term duty change in Sri Lanka and
the liquidity crisis in Nepal impacted the growth momentum. The
reconstruction and the easing up of pent up demand led to record
shipments to Nepal in Fiscal 2017. Low crude oil prices, Middle East
geo-political situation, currency devaluations and political strife cast
a big shadow over the Company’s strong markets of Middle East and
Africa this year, with the exception of the newly opened market of
Tunisia which grown more than 100%. The Company was able to
grow market shares in the key markets of Nepal and Bangladesh.
In Fiscal 2017, the Company successfully bagged and executed
several prestigious orders including 553 units Xenon pickups for PoS,
Malaysia; 537 units of buses to Ivory Coast as a part of their public
transportation system; 25 units of Prima in Oman to Al Tasneem; 25
units of ULTRA trucks in Bangladesh to Pran RFL; 32 units of ULTRA
trucks in Malaysia to PoS and 39 units of ULTRA Buses in Nepal to
Mahanagar Yatayat. Some of the key events in Fiscal 2017 were the
launch of Tata ULTRA Trucks in Kenya and Tanzania; ULTRA Bus in
Tanzania; Tata Prima in Kingdom of Saudi Arabia and Bhutan. As a
part of its strategy to expand its global footprint, the Company also
launched the Commercial Vehicle brand in Vietnam and Bolivia. In
Fiscal 2017, the Company achieved a key milestone of 1,000 Ultra
retails in export markets.
During the period Fiscal 2017, the Company exports of
Passenger
Vehicles
stood at 4,037 units, compared to 4,006 units in the Fiscal
2016. Sales in Sri Lanka declined considerably due to increase in
import duties and tightening of retail financing. However, this was
compensated by the improved sales in Nepal and South Africa with
a growth of 120% and 30% respectively.
In Nepal, the launch of Tiago has helped the Company to improve its
sales in the hatch segment whereas increased sales of Zest helped
to gain the leadership position in the compact sedan segment. The
Sumo continues to be the‘Number One’selling brand in UVs in Nepal.
In South Africa, aggressive fleet sales push helped us to increase its
sales over last year. In Bangladesh, the Company has improved its
sales on account of launch of Nano GenX and an institutional order
for Sumo Ambulance.
Jaguar Land Rover
In Fiscal 2017, Jaguar Land Rover achieved record retail sales of
604,009 units in Fiscal 2017 a growth of 15.8% as compared to Fiscal
2016, primarily driven by the introduction of the Jaguar F-PACE and
continued strong demand for the Land Rover Discovery Sport. The
retail sales were higher year-on-year in China by 32%, North America
by 24%, the UK 16% and the Europe 13% in Fiscal 2017. However,
retail sales were down by 6% in other overseas markets, which
include Brazil, Russia and South Africa.
Some of the key highlights of Fiscal 2017:
Retail sales of the new Jaguar F-PACE commenced in May 2016
(Winner ofWorld Car of theYear andWorld Car Design of theYear).
The Jaguar XE commenced sales in the US in May 2016.
The Range Rover Evoque convertible commenced sales in
June 2016.