PROFILE

Tata Motors Limited is India's largest automobile company, with revenues

of Rs. 32,426 crores (USD 7.2 billion) in 2006-07. It is the leader by far in
commercial vehicles in each segment, and the second largest in the
passenger vehicles market with winning products in the compact, midsize
car and utility vehicle segments. The company is the world's fifth largest
medium and heavy commercial vehicle manufacturer, and the world's
second largest medium and heavy bus manufacturer.

The company's 22,000 employees are guided by the vision to be "best in

the manner in which we operate, best in the products we deliver, and best
in our value system and ethics." Tata Motors helps its employees realise
their potential through innovative HR practices. The company's goal is to
empower and provide employees with dynamic career paths in congruence
with corporate objectives. All-round potential development and
performance improvement is ensured by regular in-house and external
training. The company has won several awards recognising its training
programmes.

Established in 1945, Tata Motors' presence indeed cuts across the length
and breadth of India. Over 4 million Tata vehicles ply on Indian roads,
since the first rolled out in 1954. The company's manufacturing base is
spread across India-Jamshedpur (Jharkhand) in the east, Pune
(Maharashtra) in the west, and in the north in Lucknow (Uttar Pradesh) and
Pantnagar (Uttarakhand). A new plant is being set up in Singur (close to
Kolkata in West Bengal) to manufacture the company's small car. The
nation-wide dealership, sales, services and spare parts network comprises
over 2,000 touch points. The company also has a strong auto finance
operation, TML Financial Services Limited, supporting customers to
purchase Tata Motors vehicles.

Tata Motors, the first company from India's engineering sector to be listed
in the New York Stock Exchange (September 2004), has also emerged as
an international automobile company. In 2004, it acquired the Daewoo
Commercial Vehicles Company, Korea's second largest truck maker. The
rechristened Tata Daewoo Commercial Vehicles Company has launched
several new products in the Korean market, while also exporting these
products to several international markets. Today two-thirds of heavy
commercial vehicle exports out of South Korea are from Tata Daewoo. In
2005, Tata Motors acquired a 21% stake in Hispano Carrocera, a reputed
Spanish bus and coach manufacturer, with an option to acquire the
remaining stake as well. Hispano's presence is being expanded in other
markets. In 2006, it formed a joint venture with the Brazil-based
Marcopolo, a global leader in body-building for buses and coaches to
manufacture fully-built buses and coaches for India and select international
markets. Tata Motors also entered into a joint venture in 2006 with
Thonburi Automotive Assembly Plant Company of Thailand to manufacture
and market the company's pickup vehicles in Thailand. In 2006, Tata
Motors and Fiat Auto formed an industrial joint venture at Ranjangaon
(near Pune in Maharashtra, India) to produce both Fiat and Tata cars and
Fiat powertrains for the Indian and overseas markets; Tata Motors already
distributes and markets Fiat branded cars in India. In 2007, Tata Motors
and Fiat Auto entered into an agreement for a Tata license to build a pick-
up vehicle bearing the Fiat nameplate at Fiat Group Automobiles' Plant at
Córdoba, Argentina. The pick-up will be sold in South and Central America
and select European markets.

These linkages will further extend Tata Motors' international footprint,

established through exports since 1961. While currently about 18% of its
revenues are from international business, the company's objective is to
expand its international business, both through organic and inorganic
growth routes. The company's commercial and passenger vehicles are
already being marketed in several countries in Europe, Africa, the Middle
East, Australia, South East Asia and South Asia. It has assembly operations
in Malaysia, Kenya, Bangladesh, Ukraine, Russia and Senegal.
The foundation of the company’s growth is a deep understanding of
economic stimuli and customer needs, and the ability to translate them into
customer-desired offerings through leading edge R&D. The R&D
establishment includes a team of 1400 scientists and engineers. The
company's Engineering Research Centre was established in 1966, and has
facilities in Pune, Jamshedpur and Lucknow. The ERC has enabled
pioneering technologies and products. It was Tata Motors, which developed
the first indigenously developed Light Commercial Vehicle, India's first
Sports Utility Vehicle and, in 1998, the Tata Indica, India's first fully
indigenous passenger car. Within two years of launch, Tata Indica became
India's largest selling car in its segment. The ERC in Pune, among whose
facilities are India's only certified crash-test facility and hemi-anechoic
chamber for testing of noise and vibration, has received several awards
from the Government of India. Some of the more prominent amongst them
are the National Award for Research and Development Efforts in Industry in
the Mechanical Engineering Industries sector in 1999, the National Award
for Successful Commercialisation of Indigenous Technology by an Industrial
Concern in 2000, and the CSIR Diamond Jubilee Technology Award in
2004.

The company set up the Tata Motors European Technical Centre (TMETC) in
2005 in the UK. TMETC is engaged in design engineering and development
of products, supporting Tata Motors' skill sets. Tata Daewoo Commercial
Vehicle Company and Hispano Carrocera also have R&D establishments at
Gunsan in South Korea and Zaragoza in Spain.

The pace of new product development has quickened through an

organisation-wide structured New Product Introduction (NPI) process. The
process with its formal structure for introducing new vehicles in the
market, brings in greater discipline in project execution. The NPI process
helped Tata Motors create a new segment, in 2005, by launching the Tata
Ace, India’s first indigenously developed mini-truck. The years to come will
see the introduction of several other innovative vehicles, all rooted in
emerging customer needs. Besides product development, R&D is also
focussing on environment-friendly technologies in emissions and
alternative fuels.

Through its subsidiaries, the company is engaged in engineering and

automotive solutions, construction equipment manufacturing, automotive
vehicle components manufacturing and supply chain activities, machine
tools and factory automation solutions, high-precision tooling and plastic
and electronic components for automotive and computer applications, and
automotive retailing and service operations.

True to the tradition of the Tata Group, Tata Motors is committed in letter
and spirit to Corporate Social Responsibility. It is a signatory to the United
Nations Global Compact, and is engaged in community and social initiatives
on labour and environment standards in compliance with the principles of
the Global Compact. In accordance with this, it plays an active role in
community development, serving rural communities adjacent to its
manufacturing locations.

With the foundation of its rich heritage, Tata Motors today is etching a
refulgent future.

MILESTONES
It has been a long and accelerated journey for Tata Motors, India's leading
automobile manufacturer. Some significant milestones in the company's
journey towards excellence and leadership.

Management
Board of Directors
Mr. Ratan N Tata (Chairman)
Mr. N A Soonawala
Dr. J J Irani
Mr. V R Mehta
Mr. R Gopalakrishnan
Mr. Nusli N Wadia
Mr. S M Palia
Dr. R A Mashelkar
Mr. Ravi Kant
Mr. P M Telang

Senior Management
Mr. Ravi Kant Managing Director
Mr. P M Telang Executive Director (Commercial Vehicles)
Mr. Rajiv Dube President (Passenger Cars)
Mr. C Ramakrishnan Chief Financial Officer
Mr. R S Thakur Vice President (Finance)
Vice President (Corporate Finance-Accounts and
Mr. P Y Gurav
Taxation)
Dr. S J Tambe Vice President (Human Resource)
Mr. Zackria Sait Vice President (Technical Services)
Mr. A M Mankad Head (Car Plant)
Mr. S B Borwankar Head (Jamshedpur Plant)
Mr. S Krishnan Vice President (Commercial-PCBU)
Mr Ravi Pisharody Vice President (Sales & Marketing)
Mr. H K Sethna Company Secretary

Mr. Ratan N Tata (Chairman)

Mr. Ratan N Tata holds a B.Sc. (Architecture) degree from
Cornell University, USA and has completed the Advanced
Management Program at Harvard University, USA. He joined
the Tata Group in 1962 and is the Chairman of the Tata
Group of companies and Tata Sons Ltd., the holding company for majority
of Tata Companies. As Chairman of Tata Industries Limited since 1981, he
is responsible for transforming the company into a Group strategy think-
tank and a promoter of new ventures in high technology businesses. He was
honored by the Government of India with the Padma Bhushan in January
2000 and awarded an Honorary Doctorate degree in Business
Administration by the Ohio State University. Mr. Tata has been on the
Company's Board since August 1981 and has spent more than 13 years in
an executive capacity and is actively involved with product development
and other business strategies pursued by the Company. One of his
achievements include designing and developing India's first indigenous car -
the "Indica" which has been recognized as one of the strongest brands to
have been created of late.

MANUFACTURING
Tata Motors owes its leading position in the Indian automobile industry to
its strong focus on indigenisation. This focus has driven the Company to set
up world-class manufacturing units with state-of-the-art technology. Every
stage of product evolution-design, development, manufacturing, assembly
and quality control, is carried out meticulously. Our manufacturing plants
are situated at Jamshedpur in the East, Pune in the West and Lucknow in
the North.

Jamshedpur: Established in1945, the Jamshedpur unit was the

company's first unit and is spread over an area of 822 acres. It consists of
4 major divisions - Truck Factory, Engine Factory, Cab & Cowl Factories,
and the Novus. The divestments in March 2000 hived off the Axle and
Engine plants into independent subsidiaries viz. HVAL &HVTL, respectively.

The Truck Division boasts of two assembly lines. The main assembly line,
measuring 180m in length has 20 work stations with a vehicle rolling out
every 8 mins. The other line is dedicated to special purpose vehicles and
for meeting the requirements of the Indian Army. The uniqueness of the
Factory lies in its possession of advanced facilities for manufacturing long
members comprising of a set-up of 5000 Tones Hydraulic press line, cut-to-
length line for strip preparation purchased from M/s Kohler of Germany and
a Camber Correction line. Facility for hot forming of axle halves with a
3000 tone press and heating furnace. Flexibility in manufacturing frames
with an off line Proto-typing facility. The Cab, Cowl & Novus Factory is
equipped with state- of- art facilities like Centralized Paint Shop and
Automated painting set up, Robot painting, BIW Fabrication of day &
sleeper cabs for trucks, Articulates ( Tractor/ Trailer), BIW Fabrication of
Cowls for buses, and other miscellaneous applications.

The fully equipped Foundry, that the unit is supported by, supplies high-
grade SG Iron castings for automobile components and excavators, and is
rated as one of the cleaner, better and highly automated foundries in the
world. It has an annual capacity of 42,000 MT of Good castings and makes,
both, Gey and SG cast Iron casting. It manufactures all critical automobile
castings e.g. Cylinder Block, Cylinder Head etc. It has a sophisticated
Kunkel Wagner High Pressure Moulding line of a rated production capacity
of 90 moulds/ hour. This is supported by a sand cooler and sand mixer
from Kunkel Wagner. Its melting shop has Medium Frequency Induction
Furnaces for melting and Channel Furnaces for holding. The pouring is done
by a Channel Press Pour coupled with a Steam Inoculation Dispenser. The
core shop has a state- of-the- art Cold Box Machine, making four cores per
minute. It has elaborate sand and metallurgical laboratories. In 1993 the
foundry was ISO 9002 certified by the Bureau Veritas Quality International,
which was later followed by the more stringent QS 9000 certification from
the BVQI in the year 2000. Currently it is certified as TS: 16949 by BVC.

The Engine Factory is responsible for the in-house manufacture of Tata

697/497 Naturally Aspirated and Turbo Charged engines, and the 6B series
engines manufactured at Tata Cummins. As one of the most modern
forging set-ups in the country, the Forge Division is equipped with a semi-
automated forging line with 40,000 mkg Beche Hammer and state-of-the-
art presses from Kurimoto of Japan. It produces critical forgings like
crankshafts, front axle beams and steering parts for the automobile plant.
The new forging line, installed in April 1984, has the capacity to forge front
axle beams at 90 sec per piece and crankshafts at 120 sec per piece.
Mechanical presses help produce a variety of heavy forgings. The
sophisticated FIDIA digit 165 CC Graphite Milling Machine links shop floor
machines to the design workstation. The Forge has been certified as ISO
9002 and QS 9000 by the BVQI.

HV Axles Ltd., a wholly owned subsidiary of Tata Motors, is currently the

market leader in medium and heavy commercial vehicles axles in India
with an installed capacity of over two lakh axles per annum. The company's
product range includes Front Steer axles- both live and normal, Rear Drive
axles and dummy/ trailer axles. It is currently the sole suppliers of M&HCV
axles to the Jamshedpur and Lucknow plants of Tata Motors.

HVAL has state-of-the-art manufacturing facilities for making all major

Axles components such as Front’Axle Beam, Stub Axles, Front & Rear
Wheel Hubs, Differential, Axle Gears (Crown Wheel, Pinion, Bevel Gear &
Shaft Gear), Banjo Axle Beam, Swivel Heads, Constant Velocity Shafts etc.
For being in the forefront of cutting edge technology, HVAL has proven
skills in manufacturing axles from component level to assembly & testing.
As a TS 16949 company, HVAL encourages and continuously supports its
vendor base to upgrade their Quality Management System to TS 16949.

HVTL was established on 13th March 2000 as a major subsidiary of Tata

Motors by taking over operations of Tata Motors' erstwhile Gearbox
Division. It is a leading manufacturer of automotive transmissions,
components & engineering applications for a wide range of medium &
heavy commercial vehicles. The company has a capacity of producing
94,000 gearboxes per year which is being enhanced to a capacity of
120,000 Gearboxes per year. It provides products and services of superior
quality, matching with the current economic and business trends in
medium and heavy commercial vehicle markets. The Quality System of
HVTL is certified under ISO/ TS-16949. In the environmental and safety
front, it was ISO14001 certified in 2004 and OHSAAS-18001 certified in
1999.

While making technological advancements, the social responsibilities are

also taken up seriously. Tata Motors, Jamshedpur, plays an active role in
serving rural communities surrounding its Works through various
community centres. While striving to create a culture for self-help amongst
the local populace, it has made significant progress in community and
social forestry, sustainable development of wastelands, road construction,
rural health and education, development of rural industries, water supply
and family planning. A signatory to the UN Global Pact, it also takes various
initiatives in human rights protection, labour standards, environmental
issues, modern effluent treatment facilities, sanitation drives, soil and
water conservation programmes, tree plantation drives, etc.

Pune: The Pune unit is spread over 2 geographical regions- Pimpri (800
acres) and Chinchwad (130 acres). It was established in 1966 and has a
Production Engineering Division, which has one of the most versatile tool
making facilities in the Indian sub-continent. It houses a Vehicle
manufacturing complex which is one of the most integrated automotive
manufacturing centers in the country producing a large variety of individual
items and aggregates. It is engaged in the design and manufacture of
sophisticated press tools, jigs, fixtures, gauges, metal pattern and special
tools, as well as models for the development of new ranges of automobile
products. Its capabilities have enabled Tata Motors to introduce new
products and improve existing ones without resorting to imports of dies or
fixtures. Over the years, this division has developed expertise in design and
manufacture of automated dies, fixtures and welding equipment. Its large
design group is fully conversant with state-of-the-art CAD facilities and
manufacturing facilities comprising of light and heavy CNC machine shops,
jigs boring room, plastic template shop, wood pattern and model pattern
shop, five axis precision machine tools and laser control machines. To cope
with such a diverse range, four assembly lines have been established, one
each for MCVs and HCVs, LCVs, Utility vehicles and one for Passenger Cars
(Indica and Indigo).

The Passenger Car Division in 'K' block executes the entire process of car
manufacture over five shops - the engine shop, the transmission shop,
press and body shops, paint shop and the trim and final assembly shop.
The shops are fully automated ensuring that there is minimal chance for
error in the manufacturing processes.

After the car is completely assembled, it goes through several checks like
wheel alignment, sideslip test, brake test, shower test, and a short test run
before it is ready for dispatch. All systems such as materials management,
maintenance and other activities are computerized, enabling smooth
operations and minimum inventory needs.

The Electronics Division is engaged in the production of a wide variety of

Machine Tool Controllers, PLCs, Test rig instrumentation, Servomotors,
Proximity Switches. In addition, it has developed a number of components
such as flashers, horns, timers that are used in Tata Motors' vehicles.

Industry experts rate the fully automated Foundries at Chinchwad and

Maval among the best, worldwide. The Iron Foundry at Chinchwad
produced 37,000 Tons of high precision castings in 2006-07 while the Iron
Foundry at Maval produced 14000 Tons of spheroidal Iron castings in 2006-
07. These include Cylinder Blocks, Cylinder Heads, Gear Box Housing, etc.
To dispense with the need for outsourcing, an Aluminium Foundry with an
annual capacity of 3,300 Tonnes has been established.

Lucknow:Tata Motors Lucknow is one of the youngest production facilities

among all the Tata Motors locations and was established in 1992 to meet
the demand for Commercial Vehicles in the Indian market. The state of art
plant is strongly backed by an Engineering Research Centre and Service
set-up to support with latest technology and cater to the complexities of
automobile manufacturing. Fully Built Vehicle business, which is one of the
fast growing areas of our business, is also established in Lucknow.

Our plant, rolls out commercial vehicles and is specialized in the designing
and manufacturing of a range of modern buses which includes Low-floor,
Ultra Low-floor, CNG & RE Buses.

The Lucknow facility also specializes in manufacturing HCBS (High capacity

Bus System) buses.

In light of Company’s aggressive growth plans, we are currently in

expansion phase and production at Lucknow would grow many-fold in near
future. The expansion shall be in the areas of painting, welding, vehicle
assembly & testing and utility services, driven by latest technology. To
achieve these plans we invite people who have good Technical Knowledge,
seek Challenging Opportunities and have a Drive for Engineering Excellence
to come and partner us in our journey.
 Uttarakhand
The company has set up a plant for its mini-truck, Ace, at Pant Nagar in
Uttarakhand. The plant will begin commercial production during the course
of the year. This is the company's fourth plant, after Jamshedpur
(commercial vehicles), Pune (commercial vehicles and passenger vehicles)
and Lucknow (commercial vehicles). The company is investing about
Rs.1000 crores in the plant. Vendors for the vehicle will make additional
investments to set up their plants in the vendor park adjoining the plant.
The operation will generate about 7500 direct and indirect jobs in the plant,
among vendors and service providers in the area.

RESEARCH
Research & Development:
Research provides the much-needed inspiration for the birth of new ideas,
which in turn breathes new life into products. World-class automotive
research and development are key factors that contribute to the leadership
of the Company.

Engineering Research Centre (ERC):

The Research Centre at Jamshedpur regularly upgrades components and
aggregates. A well-equipped torture track enables rigorous and exhaustive
testing of modifications before they are used as regular fitments. The
Engineering Research Centre in Pune was setup in 1966 and is among the
finest in the country. It has been honoured with two prestigious awards -
'The DSIR National Award for R&D Effort in Industry - 1999' and 'National
Award for Successful Commercialisation of Indigenous Technology by an
Industrial Concern - 2000.'

Facilities:

Engine Performance
Test Beds
Chassis Dynamometer Emission Lab
Electrodynamic Vibration Shaker Platform
Instrumentation Laboratory

Test Beds:
Tata Motors has 24 engine test beds for engine development. These are
fully automated with computerised data acquisition and logging. They are
used to test performance, endurance, and durability. They are also used in
development of components and other engine aggregates.

The dynamometers ranging from 200 Hp to 500 Hp are capable of looking

after all the existing and future petrol, diesel, and CNG engines of Tata
Motors. Three test beds are equipped with emission analysers. They are
engaged in emission development for Euro norms. Six test beds are
equipped with 'Intake Air Conditioning Systems' to feed combustion air at
ref. temp, pressure and humidity to the engine.

The latest addition is a contemporary "High Dynamic Transient

Dynamometer" (HDTD) installed in December 2000 which permits all
'chassis dynamometer' drive cycles to be run on it. It has an Emission
System, Dynamometer and Software. The powerful software simulates the
driver and all vehicle aggregates like gearbox and drivetrain, other than the
engine.

Chassis Dynamometer Emission Lab:

The ERC has a specialised AVL Zollner Chassis Dynamometer with a
508mm-twin roller for checking the emission levels of chassis. It is certified
by UTAC, TUV, INTA and ARAI. With a 125 kw generator, it can cater to the
maximum vehicle speed of 210 km/h. Inertia simulation ranges from 567kg
to 3000 kg. The Horiba 9000 emission system has separate CVS units for
petrol and diesel.

Electrodynamic Vibration Shaker Platform:

It is used for testing engine components and assemblies against vibrations.
It works with a rated force of 2000 kgf on X, Y, and Z-axis. The maximum
displacement is 40 mm and the maximum acceleration is 65g. It has a
platform table size of 1000x1000 mm. The whole set-up has a PC based
control and automation system.

Instrumentation Laboratory:
The 'Instrumentation Laboratory' at ERC Engines is equipped with a range
of instruments to assist engine development. These include data acquisition
systems, air flow meters, blow-by meters, smoke meters, oil consumption
meters, incometer & topometer, piston profile tester, FIP test rig, Swirl test
rig, and many other support equipments to cater to routine engine
development activities.

Reducing Emissions:
A specialized laboratory has been set up to measure levels of emission of vehicles using either petrol,
diesel or CNG. This laboratory helps Tata Motors achieve fuel consumption efficiencies that would
conform to international standards, under varying driving cycles. It stands testimony to Tata Motors
commitment to help bring down levels of atmospheric pollution caused by vehicular exhaust.

Durability Testing
Test Tracks
Four Poster Servo-Hydraulic Test Facility

Test Tracks:
High-speed tracks are specialized tracks for testing endurance of cars and
commercial vehicles. The Tata Motors torture tracks and high-speed tracks
in Jamshedpur and Pune are the only one of their kind in the country. The
torture track has 4 segments. Each segment affords a different type and
level of stress testing for the vehicle chassis and aggregates. The tracks
subject the chassis to shock, twisting, and bending loads. 1000 cycles on
this torture track are equivalent to approximately one and a half lakh kms
of running on regular roads. It thus provides a valid test of chassis and
vehicle durability.

Four Poster Servo-Hydraulic Test Facility:

Four Poster Servo-Hydraulic Test Facility conrists of four posts for mounting
the vehicle. The vehicle is subjected to vertical motions equivalent to road
undulations similar to actual runs on a test track. These tests conducted in
a lab under controlled conditions are accurate and unaffected by external
factors that could hamper testing activity.

Safety (CRASH TEST FACILITY) : For Tata Motors, safety is of paramount

importance. This avenue provides no room for the slightest margin of error.

Tata Motors ERC is the only high-tech facility in India to evaluate the
degree of passenger safety in the event of any high-speed impact. Through
a special crash test facility. Different types of accidents are simulated; the
results analysed, and put to use in the development of a vehicle that
satisfies stringent international safety norms. Special high-speed cameras
record test crashes at the rate of 1000 frames per second. An accident, for
instance, at the speed of 50 kilometers per hour, lasts one eighth of a
second. Thus, 125 frames recorded by these cameras are available for
study with the completion of each individual test.

Minimising Noise (ANECHOIC CHAMBER): Anechoic chamber is a highly

sophisticated noise and vibration laboratory, the nerve centre of which is a
vast chamber lined with 88,000 cones projecting at various angles from the
walls and ceiling. It is one of its kind in India and is developed completely
with in-house facilities. A number of cones, made of glass wool, are
covered with fire retardant material and absorb sound generated
within this chamber. There are rubber dampers, and a meter-thick wall of
air surrounds the chamber itself. Designed to achieve 99.5% noise
absorption, the chamber is used to test noise and vibration levels created
by vehicles.

Designing and Styling (CAD CENTRE): The CAD centre is equipped with
53 state-of-the-art CAD stations and the latest software. The CAD centre is
a vital organ of ERC's Cab Design Section. CAD designing involves
development of vehicle specifications, styling interiors and exteriors,
reviewing the styling from the engineering and aesthetic points of view,
virtual prototyping to check for design acceptability and feasibility of
manufacture. Based on this information, several running prototypes are
made and tested. It is only after all flaws, if any, are corrected using CAD
systems, that vehicles are approved for mass production.

COMMUNICATION ON PROGRESS
We are submitting herewith note on “Communication on Progress” which is
successive second year of communication to Global Compact. In this
communication, we will be communicating our progress in the area of:

1) Human rights practices in the Company

2) Progress in fulfilling environmental responsibility in the facilities of the
company
3) Company’s efforts related to article 25 & 26 of Universal Declaration of
Human Rights addressing Community at large

HUMAN RIGHTS PRACTICES IN TML

As indicated in the last years report, as a Tata Group Company, Tata Motors
adheres to the Tata Code of Conduct in its business. Tata Code of Conduct
has covered all the Human Rights principles proclaimed in Universal
Declaration of Human Rights. However, to strengthen and support
internationally proclaimed Human Rights within the business of the
Company, it was decided to design exclusive policies on various aspects of
Human Rights.

Following policies have been designed and displayed prominently at various

locations in the Company plants and offices:

 Policy on Equal Opportunity and Non-discrimination in

Employment
 Policy on Human Rights

PROCESS OF SUPPORT TO PROCLAIMED HUMAN RIGHTS

There is robust ethics counsellor process to monitor implementation of Tata

Code of Conduct. The Tata Code of Conduct incorporates within its fold, the
Human Rights principles, which thus get monitored during the process of
monitoring of the former. Employees, as well as outsiders, have the liberty
to raise concerns if any, related to the Tata Code of Conduct and the
Human Rights Policies thus. Ethics Counsellors, who are present at all
locations, address these concerns.

In relation to the process of managing the business ethics, it is of much

avail to talk about the Whistle Blower Policy at TML. This policy is an
extension of the Tata Code of Conduct. The Whistle Blower’s role is that of a
reporting party with reliable information. The Policy also defines clearly the
composition and role of investigators or fact-finders and that of arriving at
corrective or remedial action in each given case. The Policy explicitly
mentions pre-requisites to ensure that the identity of the Whistle Blower is
kept confidential. All employees of the Company are eligible to make
Protected Disclosures under the Policy.

Status of management of business ethics:

Particulars 02-03 03-04 04-05 05-06
Concerns received 107 46 95 125
Concerns resolved 98 38 65 86
% resolved 91.6 83 68 68.8
% resolved (Tata co. BM) 49 51 48 52

Company’s Efforts Related to Article 25 & 26 of Universal

Declaration of Human Rights

Principle1: Business should support and respect the protection of

internationally proclaimed human rights.

Article 25 enumerates –
 every one has a right to standard of living adequate for the health
and wellbeing of himself and his family , including food clothing
housing and medical care and necessary social services
 Motherhood and childhood are entitled to special care and assistance
Article 26 enumerates –
 Every one has a right to education
  Education should be directed to the full development of human
personality
Tata Motors, through its community development departments, strives to
address the requirements (in above mentioned articles) of community, in
particular from the underdeveloped rural area.
Tata Motors has a well-structured process to work in the areas of health,
education, water management, environment and employment generation.
This comprehensive development program attempts to improve the
standard of living of the community in the underdeveloped rural area.
Details of the effort are given below:
Health: Company provides comprehensive health care to the villagers.
Special attention is provided to expectant mothers through well-designed
prenatal care program and to children through immunization campaign,
annual health checkup and curative services. As a part of the prenatal care
programme, annual health check up programs had been organised, which
included Haemoglobin estimation, urine examination, blood pressure and
breast examination. This was undertaken in Pune for 157 women above
forty years of age. All 157 women received calcium tablets and 22 anemic
women were supplied iron tablets. Special rehabilitation program supports
the leprosy cured patients and makes them self-reliant. Rehabilitation work
for leprosy-affected people is carried out by the Nav Jagrat Manav Samaj
(NJMS) in Jamshedpur. 8 ashrams situated around the city of Jamshedpur,
which are self-settled colonies of people affected by leprosy, are supported
with medical and institutional help for making their lives comfortable and
humane.
Fig. Health Check up Camp for the rural poor organised in PKS, Jamshedpur

The Gram Vikas Kendra, a Tata Motors’ cooperative society in Jamshedpur

has been working in collaboration with the Government of Jharkhand under
the Water and Sanitation Project which was later termed the Total
Sanitation Campaign, in 246 villages of Potka and Jamshedpur Blocks of
East Singhbhum Districts with the objective of improving access to safe
drinking water and sanitation. A milestone achievement - two Panchayats,
Dorkasai & Kalapathar both consisting of 6 villages each were fully
sanitised. Sanitation and Cleanliness awareness programmes are also being
organised on a regular basis at all locations.

Fig. Sanitation and Cleanliness Awareness March by Tata motors Volunteers

in Pune

Education: Infrastructural support for education helps thousands of

children to access primary and secondary education. Eligible poor students
especially from tribal families are given financial assistance. 33 schools and
institutions of social and cultural development are supported through the
Shiksha Prasar Kendra, a Tata Motors society. Quality of education is
improved through special training programs for teachers and students.
Vocational guidance programs are organized so as to help the students in
career planning. 1600 students were imparted career guidance in 2005-06
in Pune, Lucknow and Jamshedpur.

Easy access and financial support for education helps in preventing children
undertaking child labour.

Fig. Computer Education Course designed for rural women

Water Management: Support is provided to develop sources for drinking

water. A water reservoir having a capacity of 6000 Cu meters was
constructed at village Shelu in Pune district jointly by Tata Motors, CII
western region and the villagers. The reservoir provides perennial supply of
drinking water to approximately 700 families from village Shelu.

Development of structures for water conservation and water recharging has

helped villagers to get perennial supply of water for drinking as well as
irrigation thus improving their income and standard of living. Four
reservoirs were built in the project areas in Pune and Jamshedpur to
promote water conservation. It is to be noted further that in scarcity hit
villages, whenever the need arises during summer, drinking water is also
supplied by the Company owned tankers.
Environment: Tree plantation programs and development of alternate
sources of energy have helped villagers conserve the environment and save
nonrenewable energy sources. More than 43,375 saplings were planted
during the year on community wasteland and individual fallow land at plant
locations.

Programs for development of awareness among community around all plant

locations are organized in co-ordination with government and NGOs working
in the field of

environment. The Gram Vikas Kendra, a Tata Motors society in Jamshedpur

organised a programme in which 266 NGOs participated in the National
Environment Campaign for 2005-06. The theme for this year was Solid
Waste Management. Awareness Programmes were also organised in which
approximately 2,660,00 people participated. Some of the action
programmes that were undertaken included – building of 65 Vermi compost
pits and 85 Compost pits. In addition, cleanliness drives were organised in
110 villages.
 Fig. Afforestation carried out at Khopoli village in Jamshedpur
Livelihood: Training programmes and work shops related to agriculture
and technology are organized for Self Help Groups and village youth in the
project areas at all locations. This helps them to enhance their employability
and improve standard of living through employment generation and
entrepreneurship development. This year, 45 Self-Help Groups in Pune were
given vocational training on tailoring, vermiculture, etc for self-reliance.
Special projects like irrigation schemes, water distribution scheme, low cost
housing and Self-Help Groups are being implemented to help 3,000
individuals in Pune district since the last 5 years.
Cumulative Impact of Tata Motors Initiatives over the years

THRUST AREA PROGRAM CUMULATIVE COVERAGE IMPACT 2005-06

Health Curative 230,000 patients treated 67,508 patients treated

Preventive 60,000 children immunized 1,440 children

22,469 expectant mothers immunized
helped 512 expected mothers
helped

Health awareness Covered 33,000 villagers Covered 4,361 villagers

Education Infrastructure 48 schools (primary+ secondary) 8 classrooms built

Teachers & students 40,000 teachers and students 400 teachers and
development students benefited from
the programs
1678
Awards and scholarships 400 students
24,600 students
Career guidance 1,506 students
Water& sanitation Drinking water sources dev. 1482 10

Area brought under 4,985 acres 375 acres

irrigation
3,538 1393 toilets + 24 bio-
Toilets and biogas plants gas plants

Environment Tree plantation 10,726,944 47,125, saplings

Environment awareness 1,522 villages 266 villages

Livelihood Vocational training 2,053 beneficiaries 392 youth

(specialized)
64 4
Irrigation cooperatives
formed 4,275 women 646 women

Women empowerment 2,200 beneficiaries

program

Men’s cooperatives covered

ENVIRONMENTAL PRACTICES AT TML

Principle 7: Businesses should support a precautionary approach to

environmental challenges:

• Tata Motors’ supports a precautionary approach to environmental

challenges. The Company has traditionally ensured environment
 protection and pollution prevention and specific policies and guidelines
exist to address these principles and go beyond.
• The 'precautionary approach' to environmental protection is embodied in
the 'Environmental Policy' of the Company. The Policy elaborates Top
Management commitment to "proactively work with interested parties to
adopt international best practices over and above full legal compliance.”
compliance
(See Annexure for the Environmental Policy)
• The Company also reports on its environmental performance in line with
the indicators listed under the Global Reporting Initiative.
• The environmental aspects of products, services and operations and their
related impacts have been formally assessed as a part of the installed
Environmental Management System.

• “Facilities and Environment Management” is identified as a Business

Process and is formally documented in our Enterprise Process Manual.
“Facilities and Environment Management” process is mapped in detail and
the measures for “effectiveness and efficiency” of the process are
specified. This has helped the Company to evolve a uniform approach
across all manufacturing locations in the country.

• EMS (ISO-14001) Certifications:

Certifications Our manufacturing facilities at Pune,
Jamshedpur and Lucknow have secured certification to ISO-14001:2004.

HIGHLIGHTS OF ENVIRONMENTAL PERFORMANCE (2005-06)

Effluents to Water:
The performance of the ETP seen in the quality of treated effluent, in terms
of key parameters (e.g., Total Oils & Grease, TSS, COD, BOD, metals) is far
better when compared with the permissible limits stipulated in the ‘Consent
to Operate’ issued by the respective Pollution Control Boards.
Management of solid and hazardous waste:
1. At Tata Motors, all hazardous wastes generated from manufacturing
process are disposed through the Common Hazardous Waste
Treatment Storage and Disposal Facility (CHWTSDF) set up by a
private ‘Operator’.
2. The hazardous wastes are disposed at cost by the CHWTSDF either by
direct landfilling, landfilling after treatment or incineration.
3. Disposal methods are environmentally sound and are in line with best
practices followed the world over. At Jamshedpur Works, hazardous
wastes are disposed through in-house hazardous waste incinerator.

Cost of disposal: The disposal involves a legal contract and one-time

costs as well as recurring costs.

One Time Cost:

❏ One time life membership fee for all 4 Works (Pimpri, Chinchwad,
Chikhali & Maval) = Rs. 1.925 million.
million
❏ “Container Maintenance Charges” for a period of 6 years (estimated
lifespan of containers) = Rs. 0.754 million.
 ❏ Created a “Common Intermediate Hazardous Waste Transfer Facility”
Facility
near ETP-Pimpri a common facility for the disposal of hazardous
wastes from all 4 Works of Tata Motors Pune to CHWTSDF - Taloja.
This facility (ramp) was constructed at cost of Rs. 0.7 million.

Recurring Cost:
❏ The annual cost incurred on disposal of hazardous waste in the financial
year 2004-05 was Rs. 28.9 million.
❏ The annual cost incurred on disposal of hazardous waste in the financial
year 2005-06 was Rs. 48.7 million.
❏ The annual projected budget for disposal of hazardous waste in the
current financial year 2006-07 is Rs. 66.1 million.

Photo: A view of the Common Intermediate Hazardous Waste Transfer

Facility, where hazardous waste is transferred from our dumper
trucks directly into the custom built containers of CHWTSDF–
Taloja.
Photo: Paint sludge (hazardous waste) from our dumper trucks
being directly transferred into the custom built containers of
CHWTSDF

LRD-250 Incinerator System:

(Installed at Tata Motors Ltd., Jamshedpur in October 2005)

Aim:

To incinerate hazardous waste without production of smoke or odour and to

enable all hazards to be taken care of effectively and to provide a cleaner,
safer and healthier environment in Tata Motors Limited, Jamshedpur.
The incineration system has been installed to incinerate the following:

S.N Name of Waste Qty generated p.a. (Tonnes)

1 Paint sludge 513.360

2 Oil sludge / scum 177.720
3 Oil soaked waste jute 33.000
4 Oil soaked hand gloves 23.916
5 Oil soaked aprons 0.120
7 Phosphate sludge 97.200

TOTAL 845.316

Project Cost (In Rs.):

Machinery with Pollution control equipment 12.23 million

Building 1.30 million

 Infrastructure 0.97 million

Total Project Cost 14.5 million

Energy Audits, Initiatives for Energy Conservation and use of

Renewable Energy Sources

Accolades received for Energy Conservation in 2005-06:

❏ CII Award for “Excellence in Energy Management Systems” – Commercial

Vehicle Business Unit (CVBU) and Passenger Car Business Unit (PCBU) at
Pune.

❏ National Energy Conservation Award – 2005 for PCBU-Pune. The award

was received by Mr. A M Mankad, Head-Car Plant from Dr. A P J Abdul
Kalam, President of India

❏ Tata Motors was conferred with the prestigious 'CII-ITC Sustainability

Award 2006 for Significant Achievement on the Journey towards
Sustainable Development'. This is the first year that this award is being
conferred. The award is based on assessment of Tata Motors' Corporate
Governance practices and Economic, Environmental and Social
performance - the Triple Bottomline concept as per guidelines of the
Global Reporting Initiative (GRI).

Initiatives to use Renewable Energy Sources and Increase Energy

Efficiency:
Continuous improvements in conservation of electrical power through use of
non- conventional energy resources such as wind power, improvement in
power factor and focus on energy conserving processes have resulted in a
decreasing trend of consumption per unit vehicle. Through its energy
conservation projects, the Company has saved 573.97 lakh million joules
in the last year.

The Jamshedpur plant and the Car Plant at Pune received the Union Ministry
of Power’s National Energy Conservation Awards, which recognise
significant initiatives to reduce energy intensity and improve energy
efficiency. The Jamshedpur plant won the award for the fourth year in a
row. The Commercial Vehicles Business Unit and the Passenger Cars
Business Unit also received the CII’s National Award for Excellence in
Energy Management.

Wind Power: Tata Motors, Pune has invested in a 35 MW wind farm

located at Satara & Supa, near Ahmednagar. Electricity generated by wind
power at the wind farm is fed into the MSEB grid. This Wind Power
constitutes 33% of total Tata Motors power requirement.

Solar Power:
 Hot water is required for washing the thalis at Canteens, which was
earlier heated by Electrical Heaters.
 By using Solar Collectors, water is now heated and stored in tank and is
used as per requirement.
 Total installed capacity =17000 LPD @ different Canteens,
  Total No of Solar Collectors = 136 Nos.
 Saving = 0.16 million Kwh per Annum

Re-cycling of dirty oils:

In-house systems are in place to re-claim neat oils which become dirty
during use. This extends the useful life of the neat oils, which are re-used in
the manufacturing process. A total of 220KL of oil was re-claimed for re-use
during 2005-06.

Fig.: Specific Energy Consumption (CVBU-Pune)

Fig.: Specific Energy Consumption (PCBU-Pune)

 Fig.: Specific Energy Consumption (CVBU-Lucknow)

Energy Audits:
 TML is having BEE certified Energy Auditors and they are regularly
carrying out internal Energy Audits at different shops.
 TML has carried out Energy Audit thro CSIO & CII during 2001-02 & 03-
04 respectively.

Energy Conservation Projects and energy saving 2002-2006:

Tata Motors-Pune 2002-03 2003-04 2004-05 2005-06

• No. of Projects 72 54 36 30
• Energy Saving (Million MJ) 31.32 10.727 17.367 12.502

TML, Lucknow Works

 No. of Projects 4 3 13 4
 Energy Saving (Million MJ) 0.414 0.308 3.345 0.5

Note:
 All savings indicated are estimates.
 MJ – Mega Joules
Rainwater Harvesting Project at Jamshedpur Plant:
Rainwater harvesting structures are designed for 80% of the Runoff to be
used as process water after treatment & balance to be used for recharging
the ground thereby improving the water table of the area.
Benefits of the Project
• Development of alternate source of Raw Water to meet exigencies.
• Adherence to Govt. Statutory Norms.
• Improve the Ground water level of the area.
• Reduce outflow from Tata Motors Campus
• Save on Raw Water Bill during Monsoon Season at least. -- 197 M
Gallons

(This cost does not includes process water diverted to storm water line &
does not require any treatment.)
Project Cost (In INR)
• Consultancy 0.33 million
• Implementation(Phase-1) 30.00 million
• Running Cost 0.70 million/Year
• Net Savings expected 4.16 million/Year

Areas Covered: Channel 3 & 4 areas i.e. Plant II, Forge, Foundry, Novus,
CMS, Transport, Final Rectification, Part of Telcon ( 380 Acres, 80% of
Works area)
Such initiatives have been undertaken at other locations as well:
Fig: Rain Water Harvesting at Pune Plant

 Principle 8: Undertake initiatives to promote greater

environmental responsibility.

 Principle 9: Encourage the development and diffusion of

environmentally friendly technologies.

The company has started production of CNG buses for public transport and
is working on the following products that can emit low Green House Gases
(GHG)

a)Public transport vehicles-Diesel (Euro III) buses, Bus rapid transit

system, electric trolleys
b)Diesel Cars, CNG and LPG cars
c) Bio-diesel fuelled vehicles
d)Ethanol fuelled vehicles
e)Hydrogen ICE vehicle
f)Hybrids cars
g)Fuel cell bus
h)AC system with low GWP refrigerant (including CO2)
The company is also participating in study on Impact of MAC on GHG
emission initiated by The Energy Research Institute (TERI)
End-of-Life (ELV) Vehicle and Re-cyclability of products
 Tata Motors is working with the Department of Science and Technology
(DST) as a member of the expert panel on "Recyclability of Automotive
Systems and Components" under CAR (Core group on Automotive R&D)
and TIFAC (Technology, Information, Forecasting and Assessment
Council). The scope of work includes studying customer requirements,
national and global trends, current status of technical capabilities in
India, and recommendation of R & D projects on Recyclability.

 Tata Motors is also working with the Society of Indian Automobile

Manufacturers (SIAM) as a member of the task force on Recyclability to
study and develop a policy on Recyclability of vehicles in India.
Other Initiatives at TML to Promote Environmental Responsibility:

Fig.: Sewage Treatment Plant Installation at Lucknow Plant

Fig.: Effluent Treatment Plant Upgradation at Lucknow Plant

Fig.: Effluent Treatment Plant at Pune

Fig.: Improvisation in Water purification System by substituting Bleaching
Powder with Sodium Chloride

Fig.: Increased use of Bio-fertilizers & Organic Pesticides in Horticulture

Fig.: Water at Vehicle wash used for Horticulture using Gravity flow

Fig.: Tree Plantation drives through community initiative and employee

participation
More than 43,375 saplings were planted during the year on community
wasteland and individual fallow land. So far, more than 6,50,000 saplings
have been planted on community wasteland in Pune and Jamshedpur.

Fig.: Deployment of Waste Segregation system using Color Coded Bins for
different waste categories
 Annexure

Policies at TML:

POLICY ON EQUAL OPPORTUNITY AND NON-DISCRIMINATION IN

EMPLOYMENT

“As part of its Recruitment Practices, TATA MOTORS is committed to provide

Equal Opportunity to all eligible applicants for employment without any
discrimination against their gender, race, religion, caste, colour, ancestry,
marital status, nationality and disability.
Opportunity for employment will be solely based on eligibility and merit of
the applicant. Career growth opportunities will be based entirely on
individual merit.”

POLICY ON HUMAN RIGHTS

“TATA MOTORS believes in and respects Human Rights as enunciated by the

International Labour Organisation.

TATA MOTORS is committed to protect the Human Rights of its employees

while dealing with them in all the activities falling under the relationship of
‘Employer’ and ‘Employee’.
 Decision to seek employment rests with the individual only, and it is
completely voluntary. TATA MOTORS does not and will not allow or
encourage Compulsory or Forced Labour in any of its processes and
practices.

TATA MOTORS respects the right of its eligible employees to organise for
the purpose of Collective Bargaining as well as their right to support or
oppose the labour union recognised by TATA MOTORS.

TATA MOTORS respects the definition of Child Labour as mentioned in the

guidelines of International Labour Organisation. TATA MOTORS will not
engage any person under the age of 18 years (legal age of employment) for
any operations or services (as presented in law) unless it is part of
government approved job training or apprenticeship programme.

TATA MOTORS honours the right of its employees to choose and decide the
extent of their involvement in Political Activities in their Personal Time.

TATA MOTORS expects its Channel Partners and Contractors to adhere to

business principles consistent with its own.”

Balance Sheet of Tata ------------------- in Rs. Cr. -------------------

Motors
Mar '13 Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths

Sources Of Funds
Total Share Capital 638.07 634.75 637.71 570.60 514.05
Equity Share Capital 638.07 634.75 637.71 570.60 514.05
Share Application Money 0.00 0.00 0.00 0.00 0.00
Preference Share Capital 0.00 0.00 0.00 0.00 0.00
Reserves 18,496.77 18,991.26 19,375.59 14,208.55 11,855.15
Revaluation Reserves 0.00 0.00 0.00 24.63 25.07
Networth 19,134.84 19,626.01 20,013.30 14,803.78 12,394.27
Secured Loans 5,877.72 6,915.77 7,708.52 7,742.60 5,251.65
Unsecured Loans 8,390.97 4,095.86 6,929.67 8,883.31 7,913.91
Total Debt 14,268.69 11,011.63 14,638.19 16,625.91 13,165.56
Total Liabilities 33,403.53 30,637.64 34,651.49 31,429.69 25,559.83
Mar '13 Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths

Application Of Funds
Gross Block 25,190.73 23,676.46 21,002.78 18,416.81 13,905.17
Less: Accum. Depreciation 9,734.99 8,656.94 7,585.71 7,212.92 6,259.90
Net Block 15,455.74 15,019.52 13,417.07 11,203.89 7,645.27
Capital Work in Progress 4,752.80 4,036.67 3,799.03 5,232.15 6,954.04
Investments 19,934.39 20,493.55 22,624.21 22,336.90 12,968.13
Inventories 4,455.03 4,588.23 3,891.39 2,935.59 2,229.81
Sundry Debtors 1,818.04 2,708.32 2,602.88 2,391.92 1,555.20
Cash and Bank Balance 462.86 1,840.96 2,428.92 612.16 638.17
Total Current Assets 6,735.93 9,137.51 8,923.19 5,939.67 4,423.18
Loans and Advances 5,305.91 5,832.03 5,426.95 5,248.71 5,909.75
Fixed Deposits 0.00 0.00 0.00 1,141.10 503.65
Total CA, Loans & Advances 12,041.84 14,969.54 14,350.14 12,329.48 10,836.58
Deffered Credit 0.00 0.00 0.00 0.00 0.00
Current Liabilities 16,580.47 20,280.82 16,271.85 16,909.30 10,968.95
Provisions 2,200.77 3,600.82 3,267.11 2,763.43 1,877.26
Total CL & Provisions 18,781.24 23,881.64 19,538.96 19,672.73 12,846.21
Net Current Assets -6,739.40 -8,912.10 -5,188.82 -7,343.25 -2,009.63
Miscellaneous Expenses 0.00 0.00 0.00 0.00 2.02
Total Assets 33,403.53 30,637.64 34,651.49 31,429.69 25,559.83

Contingent Liabilities 14,981.11 15,413.62 19,084.08 3,708.33 5,433.07

Book Value (Rs) 59.98 61.84 315.36 259.03 240.64

Consolidated Profit & Loss

------------------- in Rs. Cr. -------------------
account
Mar '13 Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths

Income
Sales Turnover 188,817.63 165,654.49 122,127.92 94,835.38 74,761.84
Excise Duty 0.00 0.00 0.00 3,135.12 3,153.68
Net Sales 188,817.63 165,654.49 122,127.92 91,700.26 71,608.16
Other Income 208.82 -169.77 660.47 3,555.32 -1,139.75
Stock Adjustments 3,031.43 2,535.72 1,836.19 817.10 -602.92
Total Income 192,057.88 168,020.44 124,624.58 96,072.68 69,865.49
Expenditure
Raw Materials 124,746.40 113,220.54 82,033.81 63,703.05 48,218.24
Power & Fuel Cost 1,069.06 1,017.19 851.60 689.45 686.30
Employee Cost 16,584.05 12,298.45 9,342.67 8,751.77 7,297.22
Other Manufacturing Expenses 2,021.59 1,389.23 997.55 1,157.12 827.97
Selling and Admin Expenses 0.00 0.00 0.00 8,954.69 6,134.19
Miscellaneous Expenses 22,880.66 17,953.56 13,921.00 7,037.94 8,920.90
Preoperative Exp Capitalised 0.00 0.00 0.00 -4,592.50 -4,669.77
Total Expenses 167,301.76 145,878.97 107,146.63 85,701.52 67,415.05
Mar '13 Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths

Operating Profit 24,547.30 22,311.24 16,817.48 6,815.84 3,590.19

PBDIT 24,756.12 22,141.47 17,477.95 10,371.16 2,450.44
Interest 3,553.34 2,982.22 2,385.27 2,916.20 2,072.02
PBDT 21,202.78 19,159.25 15,092.68 7,454.96 378.42
Depreciation 7,569.30 5,625.38 4,655.51 3,887.13 2,506.77
Other Written Off 0.00 0.00 0.00 0.00 0.90
Profit Before Tax 13,633.48 13,533.87 10,437.17 3,567.83 -2,129.25
Extra-ordinary items 0.00 0.00 0.00 0.00 0.00
PBT (Post Extra-ord Items) 13,633.48 13,533.87 10,437.17 3,567.83 -2,129.25
Tax 3,770.99 -40.04 1,216.38 1,005.75 335.75
Reported Net Profit 9,862.49 13,573.91 9,220.79 2,516.89 -2,465.00
Minority Interest 83.67 82.33 48.52 30.33 -11.48
Share Of P/L Of Associates -113.79 -24.92 -101.35 -84.50 51.73
Net P/L After Minority Interest & Share
10,495.32 14,348.04 9,042.61 2,915.13 -2,165.96
Of Associates
Total Value Addition 42,555.36 32,658.43 25,112.82 21,998.47 19,196.81
Preference Dividend 0.00 0.00 0.00 0.00 0.00
Equity Dividend 645.20 1,280.70 1,274.23 859.05 311.61
Corporate Dividend Tax 110.94 207.92 207.07 142.80 52.97
Per share data (annualised)
Shares in issue (lakhs) 31,901.16 31,735.47 6,346.14 5,705.58 4,498.33
Earning Per Share (Rs) 30.92 42.77 145.30 44.11 -54.80
Equity Dividend (%) 0.00 0.00 0.00 0.00 0.00
Book Value (Rs) 117.98 104.46 302.10 143.93 115.45

Cash Flow ------------------- in Rs. Cr. -------------------

Mar '13 Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths

Net Profit Before Tax 301.81 1242.23 1811.82 2240.08 1001.26

Net Cash From Operating Activities 2258.44 3653.59 1505.56 6586.03 1295.02
Net Cash (used in)/from
991.50 144.72 -2521.88 -11848.29 -10644.67
Investing Activities
Net Cash (used in)/from Financing
-4045.69 -4235.59 1648.42 5348.49 8104.70
Activities
Net (decrease)/increase In Cash and
-714.07 -432.50 635.87 86.23 -1244.95
Cash Equivalents
Opening Cash & Cash Equivalents 919.64 1352.14 716.27 630.04 2386.77
Closing Cash & Cash Equivalents 205.57 919.64 1352.14 716.27 1141.82
ata

Previous Years »

Ratios
------------------- in Rs. Cr. -------------------

Mar '13 Mar '12 Mar '11 Mar '10 Mar '09
Investment Valuation Ratios
Face Value 2.00 2.00 10.00 10.00 10.00
Dividend Per Share -- -- -- -- --
Operating Profit Per Share (Rs) 76.95 70.30 264.91 118.67 79.81
Net Operating Profit Per Share (Rs) 591.88 521.62 1,937.13 1,607.20 1,591.88
Free Reserves Per Share (Rs) -- -- 359.04 180.17 159.29
Bonus in Equity Capital 17.44 17.53 17.53 19.50 21.64
Profitability Ratios
Operating Profit Margin(%) 13.00 13.46 13.77 7.38 5.01
Profit Before Interest And Tax
8.95 10.03 9.92 3.10 1.51
Margin(%)
Gross Profit Margin(%) 8.99 10.07 9.95 3.14 1.51
Cash Profit Margin(%) 9.51 12.04 11.13 4.34 1.65
Adjusted Cash Margin(%) 9.51 12.05 10.90 4.34 1.65
Net Profit Margin(%) 5.21 8.13 7.48 2.76 -3.49
Adjusted Net Profit Margin(%) 5.21 8.12 7.56 2.76 -3.49
Return On Capital Employed(%) 21.86 24.14 25.41 9.37 2.70
Return On Net Worth(%) 26.28 40.77 48.37 31.30 -49.05
Adjusted Return on Net Worth(%) 27.80 44.05 46.51 1.76 -25.89
Return on Assets Excluding
117.98 103.03 299.77 143.93 113.54
Revaluations
Return on Assets Including Revaluations 117.98 103.03 302.05 147.18 116.00
Return on Long Term Funds(%) 25.50 24.29 31.94 16.18 7.24
Liquidity And Solvency Ratios
Current Ratio 0.81 1.03 0.76 0.59 0.48
Quick Ratio 0.70 0.72 0.75 0.72 0.64
Debt Equity Ratio 1.16 1.17 1.58 4.29 6.73
Long Term Debt Equity Ratio 0.85 0.84 0.90 2.06 1.88
Debt Coverage Ratios
Interest Cover 5.01 5.82 5.28 1.91 0.56
Total Debt to Owners Fund 1.16 1.18 1.72 4.29 6.73
Financial Charges Coverage Ratio 7.14 7.70 5.88 2.73 1.73
Financial Charges Coverage Ratio Post
5.91 7.42 5.62 3.21 1.00
Tax
Management Efficiency Ratios
Inventory Turnover Ratio 9.00 9.09 8.68 8.60 8.25
Debtors Turnover Ratio 19.69 22.44 17.81 15.29 20.88
Investments Turnover Ratio 9.23 9.37 9.21 8.60 8.25
Fixed Assets Turnover Ratio 2.51 2.34 2.06 1.72 1.37
Total Assets Turnover Ratio 3.20 3.02 3.28 3.04 2.18
Asset Turnover Ratio 2.46 2.67 2.08 1.72 1.37

Average Raw Material Holding -- -- 12.30 11.99 22.88

Average Finished Goods Held -- -- 35.98 35.27 28.78
Number of Days In Working Capital -1.74 5.41 7.58 -1.35 -0.58
Profit & Loss Account Ratios
Material Cost Composition 66.06 68.39 66.73 69.46 67.33
Imported Composition of Raw Materials
-- -- -- -- --
Consumed
Selling Distribution Cost Composition -- -- 9.17 8.88 7.11
Expenses as Composition of Total Sales -- -- -- -- --
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit 7.64 11.01 15.97 38.96 --
Dividend Payout Ratio Cash Profit 4.33 7.77 10.63 15.51 15,065.28
Earning Retention Ratio 92.78 89.67 83.27 -589.50 --
Cash Earning Retention Ratio 95.81 92.57 89.04 75.16 69.25
AdjustedCash Flow Times 2.42 1.93 2.43 8.73 29.51