OREANDA-NEWS. May 27, 2011. The Tata Motors group's global wholesale volumes for FY2010-11, including Jaguar Land Rover, stood at 1,080,994 units, representing a growth of 24.2 per cent as compared to the previous year. Global sales of all commercial vehicles were at 512,731 units, while global sales of all passenger vehicles were at 568,263 units.

The Tata Motors group, today, reported consolidated revenues (net of excise) for the year ended March 31, 2011, of Rs123,133 crore, posting a growth of 33.1 per cent over Rs92,519 crore in the previous year, with strong volume growth globally in all major markets. The consolidated profit before tax (PBT) for the year was Rs10,437 crore, compared to a PBT of Rs3,523 crore for the previous year. The consolidated profit for the period (after tax and post minority interest and profit in respect of associate companies) for the year was Rs9,274 crore, a significant increase from a profit of Rs2,571 crore in the previous year.

Tata Motors stand-alone results for the year ended March 31, 2011

Tata Motors' sales (including exports) of commercial and passenger vehicles for FY2010-11 stood at 836,629 units, representing a growth of 25.2 per cent as compared to the previous year.

In the domestic market, the company's commercial vehicles sales increased by 22.7 per cent year-on-year to 458,828 units. The company's market share in commercial vehicles was 61.8 per cent. Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 23 per cent year-on-year in the domestic market to 319,712 units. Sales of the Tata Nano crossed the 100,000 mark during FY2010-11 and the company's passenger vehicles sales crossed 2,000,000 since inception. The market share in passenger vehicles stood at 13 per cent in FY2010-11.

Tata Motors' gross revenue for the year ended March 31, 2011, was Rs52,136 crore, posting a growth of 35.9 per cent over Rs38,364 crore in the previous year.

Revenues (net of excise) of Rs48,040 crore, represented a growth of 35 per cent over Rs35,593 crore in the previous year. Cost pressure, including commodity price increase, resulted in a reduction in the operating margins to 9.9 per cent, and an operating profit (EBITDA) of Rs4,771 crore in the year, posting a growth of 14.2 per cent over Rs4,178 crore in the previous year. The PBT for the year is Rs2,197 crore as compared to Rs2,830 crore in the previous year. (Year ended March 31, 2010, included other income and exceptional item of Rs958 crore (net) arising mainly on account of divestments). The PAT for the year is Rs1,812 crore as compared to Rs2,240 crore in the previous year.

Jaguar Land Rover

Jaguar Land Rover recorded strong profitability, with healthy volumes in FY2010-11, reporting net revenue of 9,906 million and a profit after tax of 1,043 million. Sales volumes improved to 243,621 as compared to 193,982 in the previous year, on the back of improved market conditions, better market mix with strong growth in China, continued strong response to product introduction including the all new XJ and Land Rover models and favourable exchange rates. Earlier this month, JLR successfully completed issue of 7 year and 10 year bonds aggregating 1 billion.

Tata Daewoo

Tata Daewoo Commercial Vehicle Company registered net revenues of Rs2,881 crore, and recorded a profit after tax of Rs73 crore in FY2010-11. The functioning of the newly formed distribution company has now stabilised.

Tata Motors Finance

Tata Motors Finance, the company's captive financing subsidiary, registered net revenues of Rs1,367 crore and reported a profit after tax of Rs127 crore in FY2010-11.

Dividend

The board of directors has recommended a dividend of Rs20 per Ordinary share and Rs20.50 per 'A' Ordinary share each for the FY2010-11 (2009-10: Rs15 for Ordinary share and Rs15.50 for 'A' Ordinary share). The dividend is subject to approval of shareholders; tax on the dividend will be borne by the company. The book closure date for the purpose of payment of the said dividend has been fixed from July 21, 2011, to August 12, 2011, and dividend shall be paid / dispatched on and after August 16, 2011.

Sub-division of shares

Further, the board of directors, today, also approved the sub-division of the company's Ordinary and 'A' Ordinary Shares, both of Rs10 each into Ordinary and 'A' Ordinary Shares, both of Rs2 each, subject to the approval of the shareholders at the annual general meeting.