OneSource One-Stop Report

Tata Motors Limited
16 September 2010

OneSource One-Stop Reports for Tata Motors Limited

Tata Motors Limited
Bombay House 24 Homi Mody Street Mumbai, 400 001 India Tel: 91-22-66658282 Fax: 91-22-66657799 www.tatamotors.com Incorporation Date: Auditor: Employees: Company Type: Corporate Family: Ultimate Parent: Traded: 24,310 Public Subsidiary 401 Companies Tata Sons Ltd Bombay Stock Exchange: New York Stock Exchange: 01-Sep-1945 Deloitte & Touche Financials in: USD (mil)

Fiscal Year End: 31-Mar-2010 Reporting Currency: Indian Rupee 500570 TTM Annual Sales: Net Income: Total Assets: Market Value: 19,872.4 1 541.7 19,401.7 2 12,049.7 (27-Aug-2010)

Business Description Tata Motors Limited (Tata Motors) is an automobile company. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company has two segments: automotive and others. The others segment includes construction equipment, engineering solutions and software operations. Tata Motors has operations in the United Kingdom, South Korea, Thailand and Spain. On October 16, 2009, the Company has acquired 79% shares in Tata Hispano Motors Carrocera S.A. by way of exercise of the existing call option, through mutual agreement with the other share-holder, Investalia S.A., Spain. Consequently, Tata Hispano Motors Carrocera S.A. has become a 100% subsidiary of the Company. On March 30, 2010, the Company has sold 20% stake in Telco Construction Equipment Company Ltd (Telcon) to Hitachi Construction Machinery Co. Ltd. For the three months ended 30 June 2010, Tata Motors Limited's revenues increased 61% to RS270.9B. Net income totaled RS1.99B vs. a loss of RS328.8M. Revenues reflect an increase in income from Automotive & related activity and higher other operating income. Net income also reflect an increase in gross and operating profit margin of the company. The Company is into manufacturing & selling of automobiles and financing of the vehicles. Source: Reuters Industry Industry ANZSIC 2006: NACE 2002: NAICS 2002: US SIC 1987: Auto and Truck Manufacturers 231 - Motor Vehicle and Motor Vehicle Part Manufacturing 3410 - Manufacture of motor vehicles 336112 - Light Truck and Utility Vehicle Manufacturing 3711 - Motor Vehicles and Passenger Car Bodies

Key Executives Name Carl-Peter Forster C. Ramakrishnan T. Leverton H. K. Sethna S. Ravishankar Significant Developments Topic Regulatory Mergers / Acquisitions Restructuring / Reorganization Officer Changes Strategic Combinations #* Most Recent Headline 1 Delhi Warns Tata Motors Limited Over Bus Fire-Hindustan Times 2 2 Tata Motors Limited Eyes SUMITOMO CORPORATION's Stake In Swaraj Mazda-Reuters Tata Motors Limited Plans To Combine Technologies With Jaguar Land RoverDJ Date 15-Dec-2009 10-Dec-2009 1-Sep-2010 30-Mar-2010 10-Aug-2010 Title Group Chief Executive Officer Chief Financial Officer Head - Advanced and Product Engineering Compliance Officer, Company Secretary Vice President - Engg. Systems, ERC Source OneSource Reuters Reuters Reuters Reuters

2 Tata Motors Limited Announces Appointment Of Managing Director 7 Tata Motors Limited In Talks For JLR JV Assembly Line Operations In ChinaReuters

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OneSource One-Stop Reports for Tata Motors Limited

* number of significant developments within the last 12 months News Title ADR REPORT: Shares Close Mixed As Japan Fights Strong Yen Nikkei English News (692 Words) Indian Commercial Vehicles Market - Force Field Dynamics Analysis Journal of India (230 Words) Indian stocks close up 0.8 pct Xinhua News Agency (207 Words) Markets trim some of their early gains Accord Fintech (India) (903 Words) Nifty continues to trade high; ends above 5850 mark Accord Fintech (India) (484 Words) Financial Summary Date 15-Sep-2010 15-Sep-2010 15-Sep-2010 15-Sep-2010 15-Sep-2010

As of 30-Jun-2010 Key Ratios Sales 5 Year Growth Net Profit Margin (TTM) % Company Industry 36.83 4.61 -5.30 1.01

Source: Reuters Stock Snapshot Traded: Bombay Stock Exchange: 500570 As of 27-Aug-2010 Recent Price 52 Week High 52 Week Low Avg. Volume (mil) Market Value (mil) Financials in: INR 990.70 1,055.00 430.00 0.85 565,250.80 EPS Price/Sales Dividend Rate Price/Earnings Price/Book Beta 49.83 0.60 15.00 6.97 6.89 1.44 Rel S&P 500% 16.23% 24.10% 78.75% 21.28%

4 Week 13 Week 52 Week Year to Date

Price % Change 17.08% 32.45% 103.87% 24.99%

Source: Reuters Key IDSM Number: 167677 1 - Profit & Loss Item Exchange Rate: USD 1 = INR 47.45907 2 - Balance Sheet Item Exchange Rate: USD 1 = INR 44.895 © 1983-2010 Reuters Research Inc. All Rights Reserved.

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infoUSA.. Copyright © 2010 Graham & Whiteside Limited Copyright © 2010 Business Monitor International Ltd.com (security prices are at least 15 min. Inc. Stock quotes provided by Quote. All Rights Reserved. 2010 Page 4 . Inc. delayed) Published by OneSource Information Services. © Copyright 2010. All rights reserved. All Rights Reserved.OneSource One-Stop Reports for Tata Motors Limited © 2010 OneSource Information Services.

Construction Machinery Manufacturing 336312 .tatamotors.Motor Vehicle Parts and Accessories 3711 .310 Fiscal Year End: 31-Mar-2010 167677 KeyIDSM: Industry: Auto and Truck Manufacturers Corporate Overview Incorporation Date: Company Type: Quoted Status: 01-Sep-1945 Public Subsidiary Quoted Tata Engineering & Previous Name: Locomotive Co Ltd Group Chief Executive Carl-Peter Officer : Forster Investor Relations News Releases Products/Services Industry Codes ANZSIC 2006 Codes: 231 .Motor Vehicle and Motor Vehicle Part Manufacturing 2462 . quarrying and construction 7222 .Financial Asset Investing NACE 2002 Codes: 3410 .Bombay Stock Exchange Sales INR(mil): 943.039.Manufacture of machinery for mining. Not Elsewhere Classified 3714 .Offices of Holding Companies. quarrying and construction 7222 .Exchange 500570 .123.Computer System Design and Related Services 6240 . 400 001 India Tel: 91-22-66658282 Fax: 91-22-66657799 www.Light Truck and Utility Vehicle Manufacturing 551112 .Construction Machinery and Equipment UK SIC 2003: 3410 .Manufacture of machinery for mining.3 Employees: 24.Other software consultancy and supply NAICS 2002 Codes: 336112 .Management activities of holding companies Page 5 .Offices of Other Holding Companies 333120 .Computer Programming Services 3531 .Other software consultancy and supply 7415 .Manufacture of motor vehicles 7415 .7 Assets INR(mil): 871.Management activities of holding companies 2952 .com Company Web Links Company Contact/E-mail Corporate History/Profile Employment Opportunities Contents Industry Codes Business Description Brand/Trade Names Financial Data Market Data Shareholders Subsidiaries Key Corporate Relationships Executives Financial Information Home Page Quote Symbol .Manufacture of motor vehicles 2952 .Custom Computer Programming Services US SIC 1987: 6719 .Motor Vehicles and Passenger Car Bodies 7371 .Gasoline Engine and Engine Parts Manufacturing 541511 .Mining and Construction Machinery Manufacturing 7000 .OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Location Bombay House 24 Homi Mody Street Mumbai.

South Korea. Tata Motors has operations in the United Kingdom.A.039.5 31-Mar-2010 31.7 25. 2009. midsize car and utility vehicle segments. Bangladesh. Spain. engineering solutions and software operations.1% Page 6 .123.3 351.OneSource One-Stop Reports for Tata Motors Limited Business Description Tata Motors Limited (Tata Motors). incorporated on September 1. Ltd. 2010. Senegal and South Africa. South Asia and South America.A. Investalia S. commercial passenger carriers and defense vehicles. trucks.A. Tata Hispano Motors Carrocera S. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles.99B vs.6 871. The Company is into manufacturing & selling of automobiles and financing of the vehicles. 1945. 2009. The Company has two segments: automotive and others. For the three months ended 30 June 2010. including financing of the vehicles sold by the Company. and the second largest in the passenger vehicles market with winning products in the compact. Spain. the Company has acquired 79% shares in Tata Hispano Motors Carrocera S. a loss of RS328. the Middle East. automotive vehicle components manufacturing and supply chain activities. Net income also reflect an increase in gross and operating profit margin of the company. On October 16. by way of exercise of the existing call option. is an automobile company. through mutual agreement with the other share-holder.6 788. Investalia S. utility vehicles and passenger cars Source: Graham & Whiteside Tata Motors Limited (India) is the largest automobile company in the country and is a leader in commercial vehicles in each segment. The Company's commercial and passenger vehicles are being marketed in several countries in Europe. construction equipment manufacturing. machine tools and factory automation solutions. The company is the world's fifth largest medium and heavy commercial vehicle manufacturer. Source: Reuters More Business Descriptions Tata Motors Limited (Tata Motors) is an automobile company. the Company has sold 20% stake in Telco Construction Equipment Company Ltd (Telcon) to Hitachi Construction Machinery Co. It has franchisee/joint venture assembly operations in Kenya. Thailand and Spain.6% NA 17.9B. 2010. Tata Motors has operations in the United Kingdom. Source: BMI Heavy Duty Truck Manufacturing Source: infoUSA Brand/Trade Names TATA TELCO TATA Engineering Indica Sumo Safari EX range Financial Data Financials in: Revenue: Net Income: Assets: Long Term Debt: Total Liabilities: Working Capital: Date of Financial Data: INR(mil) 1 Year Growth 943. On March 30.923. Source: Reuters Manufacture of commercial vehicles. On March 30.974.710. Through its subsidiaries. Africa. and automotive retailing and service operations. Tata Hispano Motors Carrocera S. Thailand and Spain. the Company has sold 20% stake in Telco Construction Equipment Company Ltd (Telcon) to Hitachi Construction Machinery Co.. Consequently. South East Asia.8M.. engineering solutions and software operations.5 69. The others segment includes construction equipment. Tata Motors Limited's revenues increased 61% to RS270. Consequently. Russia. by way of exercise of the existing call option. Ltd. the Company has acquired 79% shares in Tata Hispano Motors Carrocera S. The others segment includes construction equipment.A. The Company has two segments: automotive and others. has become a 100% subsidiary of the Company. South Korea. high-precision tooling and plastic and electronic components for automotive and computer applications. through mutual agreement with the other share-holder. Revenues reflect an increase in income from Automotive & related activity and higher other operating income. On October 16. It provides passenger cars. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles.A. . including financing of the vehicles sold by the Company.A. Ukraine. the company is engaged in engineering and automotive solutions. utility vehicles. has become a 100% subsidiary of the Company. Net income totaled RS1. and the world's second largest medium and heavy bus manufacturer.

Hongkong and Shanghai Banking Corporation. All Rights Reserved. Central Bank of India.9 565. All Rights Reserved. State Bank of India. © Copyright 2010.032599). Tata Iron and Steel Co Ltd (9. Bank of America. All Rights Reserved. Copyright © 2010 Business Monitor International Ltd. Bank of Nova. Deutsche Bank.8 6101509 INE155A01014 Subsidiaries Company Telco Construction Equipment Company Ltd (TELCON) Tata Technologies Ltd Sheba Properties Ltd HV Transmissions Ltd HV Axles Ltd TAL Manufacturing Solutions Ltd Concorde Motors (India) Limited (CMIL) Tata Daewoo Commercial Vehicle Company Limited (TDCV) Korea Tata Marcopolo Motors Ltd (TMML) Tata Motors (Thailand) Limited (TMTL) Tata Motors European Technical Centre Plc (TMETC) Tata Motors Finance Limited (TMFL) Tata Motors Insurance Broking & Advisory Services Limited (TMIBASL) Percentage Owned 100% 81. Standard Chartered Bank Ltd Deloitte & Touche. HDFC Bank Ltd. 500570 Bombay Stock Exchange INR 990. Union Bank of India.82%).71% 100% 85% 85% 100% 100% 100% 51% 70% 100% 100% 100% Country INDIA INDIA INDIA INDIA INDIA INDIA INDIA SOUTH KOREA INDIA THAILAND UK INDIA INDIA Shareholders Major Shareholders Tata Sons Ltd (20. Rights Issue. Copyright © 2010 Graham & Whiteside Limited © 2010 OneSource Information Services. Unit Trust of India (1. Bank of Maharashtra. Page 7 . Fncls upto FY'01 are non-consolidated.7 08-27-2010 103. 1 new share for every 6 shares held @ INR 340 (Factor: 1. Life Insurance Corporation of India Ltd (6. Citibank NA. All rights reserved. Bank of Baroda.53%) Key Corporate Relationships Auditor: Bank: Deloitte & Touche Bank of India.37%). Bank of Maharashtra. ICICI Bank Ltd. Deloitte & Touche Auditor: © 1983-2010 Reuters Research Inc. Corporation Bank.92%). 09/2008.OneSource One-Stop Reports for Tata Motors Limited Market Data Quote Symbol: Exchange: Currency: Stock Price: Stock Price Date: 52 Week Price Change %: Market Value (mil): SEDOL: ISIN: Equity and Dept Distribution: FY'02: Consolidated C/F statement not reported. infoUSA.250. Daimler AG (8%). Inc. Standard Chartered Bank.

5% to 1.Decline in Sales of Core BusinessesAlthough recorded higher revenues in the fiscal year ended March 2009. said: “We are very happy with the support extended to us by the European Investment Bank. and Jaguar and Land Rover. Thus a broad product portfolio helps the company cater to a diversified customer base. commitment and dedication of the whole Tata Motors team at all its locations and across all levels is truly phenomenal and this continues to be the company's greatest asset. I feel confident that if we can sustain our operations through this difficult period. 2010 Sales and Distribution In 2009. and in an impressive display of leadership and pragmatism by the Chief Minister and the State officials. Xenon Pickup truck and the new variant of the Safari. More about Strategic Initiatives Strategic Initiatives Key Organizational Changes Amongst other products introduced in the market are the Indigo CS. mid size and utility vehicles. 2010Tata Motors Group Reports 93% Increase In Global SalesTata Motors has reported an increase of 93% in it's group global sales.714. The company's plans of spearheading industrial investment in West Bengal by locating the manufacturing plant for the Nano in the state was thwarted by a local political party. including facilities from State Bank of India. besides manufacturing of state-of-the-art super polymer lithium ion batteries and the development of related technologies. it suffered lower unit sales in its core businesses.”Feb 15.525. the year under review would be viewed with great despondency. Tata Daewoo and Hispano Carrocera range of commercial vehicles.According to Tata. Tata Motors offers customized heavy vehicles for defense solutions. 2010 Partnerships It has also been able to gain market share in the bus segment with newly developed vehicles from its facilities in Goa and its joint venture facility at Dharwad. “This will support the progress of turnaround in Jaguar Land Rover's business in challenging market conditions. Bank of Baroda. July 6. taking whatever steps we need to take to see the year through.Decline in Sales of Core BusinessesAlthough recorded higher revenues in the fiscal year ended March 2009.313. and be faced with a major collapse in vehicle demand in Western Europe and the U. The company faces a major decline in demand across its product range. The spirit. The second generation of Indigo is expected to be launched in the latter part of this year. After facing continuous agitation. Industrial Sales of Sports Utility car reduced sharply by 6. The State of Gujarat was decided upon. increase of volumes and the improved margins strategy currently being implemented by Jaguar Land Rover. a subsidiary of the Bank of Ireland. alongside cost cutting measures. Total passenger car sales also decreased marginally by 0. through the acquisition of Jaguar in 2008. Source: GlobalData.5% from the previous year.S.5% from the previous year. July 6. July 6. Industrial Sales of Sports Utility car reduced sharply by 6. Tata Motors came to the conclusion that the only option would be to move out of West Bengal and relocate the Nano manufacturing facilities in another state. Source: GlobalData. citing injustice done to the residents of the area by the state government in the acquisition of land for the project. we could overcome all the obstacles in our path. also began offering premium luxury cars. it offers small mini and compact cars. This investment in Miljo will help the Page 8 . GE Capital. which is an increase of 93% over January 2009. July 6. To some. But to many in the company this is yet another year of challenges with the excitement of meeting such challenges head-on. Tata passenger vehicles along with distributed brands in India. all approvals were received in a scant three days. We view Jaguar Land Rover as a key part of Tata Motors and we feel confident about its outlook for the future. it offers small mini and compact cars. 2010 In addition. Credit Suisse. 2010 Under its Passenger Cars segment. Thus a broad product portfolio helps the company cater to a diversified customer base. vice chairman of Tata Motors. Source: GlobalData. July 6. 2010 Miljo will produce electric vehicles based on Tata Motors’ products. Source: GlobalData. the company secured over GBP500m of funding for Jaguar Land Rover. through the acquisition of Jaguar in 2008. State Bank of India.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments. which in turn mitigates the various risks associated with the overdependence on a particular product segment. which in turn mitigates the various risks associated with the overdependence on a particular product segment. and Burdale Financial Limited. The company. mid size and utility vehicles. and other banks. Source: GlobalData. ABC International bank. Under its Passenger Cars segment. also began offering premium luxury cars. it suffered lower unit sales in its core businesses. Ravi Kant. and even periodic violence by this particular party and its supporters. The company. comprising of Tata. it must bear the burden of the major acquisition of JLR. Standard Chartered Bank. the global sales in January 2010 was 85.

Innovation continues to be a cornerstone of the company’s corporate strategy with significant efforts focused against consumer demands for products that are convenient and effective. in October 2009. All Rights Reserved. and find synergies in the capabilities and facilities between the two companies. Source: GlobalData.OneSource One-Stop Reports for Tata Motors Limited company to develop convenient. 2010 The global slowdown also had a significant impact on the Jaguar Land Rover company which Tata Motors acquired in June 2008. digo CS. Source: GlobalData. 2010 Copyright © 2010 GlobalData. The company launched several new products during the year.Product InnovationsTata Motors constantly focuses on new product innovations which helps the company create competitive advantage and build brand equity. Source: GlobalData.A. as a part of its plans to emerge as a strong player in the Spanish as well as global bus and coach market. Further. 2010 Further. These acquisitions combined with Tata Motors’ strong brand image would help the company attract new customer across the globe and improve its sales performance in the overseas market.A. July 6. Inc. needed to retain their identity. Considerable progress has been made in identifying sources of components from India. Innovation continues to be a cornerstone of the company’s corporate strategy with significant efforts focused against consumer demands for products that are convenient and effective. Tata Motors acquired the remaining 79% stake in the Spain based Hispano Carrocera S. recognizing engineering and Computer Aided Design capabilities within Tata Motors and marketing synergies in various geographies. July 6.Sep. These include Indica Vista a small car. These acquisitions combined with Tata Motors’ strong brand image would help the company attract new customer across the globe and improve its sales performance in the overseas market.. as a part of its plans to emerge as a strong player in the Spanish as well as global bus and coach market.. Tata Motors acquired the remaining 79% stake in the Spain based Hispano Carrocera S. while at the same time integrate with the management of Tata Motors. design and technical independence as also their image in the marketplace. Jaguar and Land Rover.Product InnovationsTata Motors constantly focuses on new product innovations which helps the company create competitive advantage and build brand equity. Sales of the Jaguar and Land Rover brands declined by 20% and 51% respectively from October 2008 – March 2009 as compared to the corresponding period in the previous year as the demand for premium vehicles declined. in October 2009. namely. 2010 Page 9 . Xenon Pickup truck and Nano. The Year in Review Jaguar Land Rover (JLR) This has been the first year since the acquisition of the company by Tata Motors and the working relationship has been evolving continuously. affordable and sustainable mobility solutions through electric and hybrid vehicles. Tata Motors recognized that these two global brands. Published by OneSource Information Services. July 6..

OneSource One-Stop Reports for Tata Motors Limited Page 10 .

Pune. Also. which provides the company full control over its value chain and in turn helps decrease its production and distribution costs. This unit has captive forge and foundry facilities which cater all requirements of steel forgings and alloy iron castings. Further. It also acquired Jaguar and Land Rover brands in UK. Strong Market Position Tata Motors holds strong market position in Indian automobile industry particularly in commercial vehicle segment. high-precision tooling and plastic and electronic components for automotive and computer applications and automotive retailing and service operations. Jaguar Cars Limited was founded in 1922 and is one of the world’s leading manufacturers of luxury saloons and sports cars. multi-utility vehicles and passenger cars. it is the largest commercial vehicle manufacturer in India and second largest passenger car manufacturer. machine tools and factory automation solutions.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Strengths/Weaknesses (SWOT) Helpful to achieving the objective Strengths Internal Origin (attributes of the organization) q q q q Harmful to achieving the objective Weaknesses q Expanding Market Share in Sector Strong Market Position Integrated Automobile Company Diversified Product Portfolio q q q Decline in Sales of Core Businesses Limited Liquidity Position Declining Operating Margin Low Return on Equity Opportunties q Threats q q q q q External Origin (attributes of the environment) q q q q Growing Demand for Small and Mid size Cars Positive Outlook for Indian Automobile Industry Product Innovations Increasing Demand for Fuel Efficient Vehicles Strategic Acquisitions Increasing Costs of Input Global Economic Slowdown Stricter Emission Standards Intense Competition Currency Rate Fluctuations Overview Tata Motors Limited is India’s largest automotive company. it recently acquired Daewoo Commercial Vehicles Company which is the second largest truck maker in Korea. automotive vehicle components manufacturing and supply chain activities. which is engaged in manufacturing commercial and passenger vehicles. which offers medium and heavy commercial vehicles. Further. However. light commercial vehicles. and Dharwad and R&D centers in India. A higher than S&P 500 companies average* revenue CAGR indicates that the company has outperformed the average S&P 500 companies growth and gained market share over the last four years. Tata Motors has emerged as an international automobile company. construction equipment manufacturing. Its Jamshedpur commercial vehicle business unit is India’s largest and world’s sixth largest commercial vehicle manufacturer. The company achieved this growth due to better competitive positioning and superior products and services offering compared to other companies in the S&P 500 index. product innovations and strategic acquisitions could ensure a strong future. it held a market share of 63. The company has many manufacturing plants located at Jamshedpur. This was above the S&P 500 companies average* of 11. Further.1%. the company through its subsidiaries. The company's strong market position and diversified product portfolio are its strengths. It is the world's fourth largest truck manufacturer and second largest manufacturer of buses. and the UK. declining sales in its core businesses and limited liquidity position are areas of concern for the company.8% in the commercial vehicle sector in the Indian market.2% during 2005-2009. All this collectively gives the company a critical competitive advantage with better control over time. Spain. South Korea. Thus the company’s strong market position provides the company an advantage while attracting and serving a diverse customer base. Integrated Automobile Company Tata Motors is a fully integrated automobile company. Strengths Expanding Market Share in Sector The company's compounded annual growth rate (CAGR) for revenue was 38. It also holds a leading position in nearly all commercial vehicle segments. During the fiscal year that ended March 2009. Global economic slowdown and intense competition could also affect the company's growth. Lucknow. cost Page 11 . is engaged in engineering and automotive solutions.

Low Return on Equity The company's return on equity (ROE) was -42. A lower than S&P 500 companies average* operating margin may indicate inefficient cost management or a weak pricing strategy by the company. also began offering premium luxury cars. the credit rating for foreign currency borrowings of the company was revised to B (Credit Watch with Negative Implications) by Standard & Poor and to B3 (Stable) by Moodys’. buses.815 million with a debt to equity ratio of 10. Owing to the current global economic recession and volatile fuel prices. Positive Outlook for Indian Automobile Industry The company could benefit from the strong growth prospects in the Indian automobile industry. mid size and utility vehicles. Thus the declining sales in its core businesses could affect the company’s total sales and hamper its financial position.8% in 2008 to 44. trailers. Tata Motors offers customized heavy vehicles for defense solutions.9% for the five month period of 2009. intercity transportation and charter buses. Thus the company. Diversified Product Portfolio The company boasts of a broad product portfolio in the automobile industry that helps it attract and serve a wide customer base.1% and market share of 4X4s fell to 8. the demand for small and mid-size vehicles has been witnessing a strong growth.4% from 503.4%. M&HCV includes multi axle rigid truck.5% to 1. With majority of the company’s earnings being diverted towards servicing of its debt obligations.6% for commercial vehicles in the first five months of the fiscal year 2009. Limited Liquidity Position The company's current ratio was 1.9% decrease in registration for passenger cars and 37.02 at the end of fiscal year 2009. technology integration and faster product rollout. The total vehicles sold during the period were 9. In addition.17 million vehicles in 2008-09.77 million to 1. Tata Motors product portfolio consists of broad range of product and services. However. it offers small mini and compact cars.313. Sale of commercial vehicles decreased by 17. The growing economy coupled with the growing middle class over the past few years has fuelled the demand for automobiles in the country. It is expected that the passenger vehicle sales will Page 12 . small cars market share increased from 38. Thus a broad product portfolio helps the company cater to a diversified customer base.4%.218 in 2008 to 415. M&HCV experienced sharp decline in unit sold by 31.5% from the previous year. Despite the economic slowdown.4. Of commercial vehicles.525.6. Weaknesses Decline in Sales of Core Businesses Although recorded higher revenues in the fiscal year ended March 2009. Under its Passenger Cars segment. 2009 stood at INR 435. The operating margin has decreased 1156 bps over 2008 which may indicate management's low focus on profitability. During the year. Also. Passenger vehicles too witnessed an increase from 1. This was below the S&P 500 companies average* of 14. A lower than S&P 500 companies average* ROE may indicate that the company may not be using the shareholders' money as efficiently as other companies in the S&P 500 index and that it is generating low returns for its shareholders compared to other companies in the S&P 500 index.2% at the end of fiscal year 2009. the overall production (including passenger vehicles. A lower than S&P 500 companies average* current ratio indicates that the company is in a weaker financial position than other companies in the S&P 500 index. for borrowing in local currency. The company. long term service support to customers. the company is at a disadvantage while exploiting new opportunities arising in the market.7 the previous year. Total passenger car sales also decreased marginally by 0.72 million compared to 9. According to a report by ACEA (European Automobile Manufacturers Association). 2-wheelers and 3-wheelers) increased from 10. which in turn mitigates the various risks associated with the overdependence on a particular product segment.85 million vehicles in 2007-08 to 11.9%. commercial vehicles. the rating was revised by Crisil to A (Stable) and to LA+ by ICRA. the company's debt as of March 31. Industrial Sales of Sports Utility car reduced sharply by 6. Declining Operating Margin The company's operating margin was -2. it suffered lower unit sales in its core businesses. market penetration for diesel cars also fell to 46. Commercial Vehicles include Medium and Heavy Commercial Vehicles (M&HCV) and Light Commercial Vehicles (LCV). This was below the S&P 500 companies average* of 12. small commercial vehicles. being a leading manufacturer of small and mid-size cars. can capitalize on its brand image to garner higher market share in the sector and generate higher revenues.83 million.97% for the fiscal year 2009.OneSource One-Stop Reports for Tata Motors Limited and quality. Opportunities Growing Demand for Small and Mid size Cars The company may find increased opportunities in the small car segment. This was below the S&P 500 companies average* of 1. Product line of the company comprises Commercial and Passenger Vehicles. compared to 1. through the acquisition of Jaguar in 2008. European vehicle companies received 13.65 million in 2007-08. tractors.7%. Similarly.262 in the fiscal year ended March 2009. However.

Jaguar and Land Rover are engaged in the manufacture and sale of high end luxury cars and SUVs. aluminum. the sale of unconventional vehicles (hybrid) account for 63% of the total Light Duty Vehicles (LDV) sales. Xenon Pickup truck and Nano. Norway. it would account for 10% of the GDP and would provide employment to 25 million people by 2016. despite a decrease in the crude oil prices.A. Additionally. it can benefit from new product categories and much broader geographies as Jaguar and Land Rover sells in more than 100 countries and has over 2. The softening employment market in the US would further reduce consumer spending on cars. Further. Threats Increasing Costs of Input The increasing price of raw materials could concern the company.75 million units by 2014. It also launched premium luxury vehicles Jaguar XF. This helps the company drive top-line growth and keep the company’s categories vital. These innovative product launches helps the company cater to the changing consumer demands as well as serve diverse markets more efficiently. Strategic Acquisitions Tata Motors may benefit from its recent acquisitions of iconic British brands Jaguar and Land Rover. According to Society of Indian Automobile Manufacturers (SIAM). Global Economic Slowdown The financial crisis in the US and its spillover to other economies of the world has caused a major concern to all the industries. Range Rover Sport and Range Rover. Innovation continues to be a cornerstone of the company’s corporate strategy with significant efforts focused against consumer demands for products that are convenient and effective.89 million units at the end of 2008-09. acquired a 50. With an output aimed at USD 145 billion. As a result.3% of new LDV sales in the year 2007 to 20. Tata Motors’ UK subsidiary. Further. to make India a powerhouse in the global automobile industry. the volatility in financial and commodity markets poses risk to the automobile manufacturers. the government launched the Automotive Mission Plan (AMP) 2006-2012. 90% and 85. up from 1. The total sale of hybrid vehicles is estimated to increase from 2. the automobile sales in the overseas market increased from 1. As per the Bureau of Labor Statistics. and Land Rover’s Freelander 2. with the unconventional and hybrid vehicles becoming a mainstay in the future automobile market. Also. The private consumption and consumer confidence have dipped in the recent years due to the poor economic conditions. Thus with a strong presence in the Indian market. as the credit spreads have increased sharply. flexible-fuel ethanol vehicles and a turbocharged direct injection system. According to 'Annual Energy Outlook 2009' report by Energy Information Administration (US Government). one component manufacturing facility and two state of the art design and engineering center. Key brand models include Jaguar XF. and 39.200 dealers worldwide. Overall. About 78% of Land Rovers are exported to over 160 countries while about 70% of Jaguars are exported to 63 countries.OneSource One-Stop Reports for Tata Motors Limited grow at a CAGR of 12% to reach 3. which could not be easily transferred to the customers as the intense competition could lure away its customers through their low price offerings.23 million units to 1. Tata Motors acquired the remaining 79% stake in the Spain based Hispano Carrocera S. These include Indica Vista a small car. which include automobile manufacturers. as a part of its plans to emerge as a strong player in the Spanish as well as global bus and coach market. plastic and other resin materials. digo CS. Increasing Demand for Fuel Efficient Vehicles The company could find increased opportunities in the area of fuel efficient vehicles which feature advanced technologies such as hybrids..6%. It specializes in the development of innovative solutions for electric vehicles.81%.27% respectively for the last decade. It aims at making India a destination of choice in the world for design and manufacture of automobiles and auto components.6% by 2015 and 2030 respectively. This investment in Miljo will help the company to develop convenient. This would include 1 million units contributed from exports. Product Innovations Tata Motors constantly focuses on new product innovations which helps the company create competitive advantage and build brand equity. These acquisitions combined with Tata Motors’ strong brand image would help the company attract new customer across the globe and improve its sales performance in the overseas market. It also has three manufacturing plants. Tata Motors European Technical Centre plc. Discovery 4. Thus rising input costs could have a major impact on the operational costs of the company. The effects of the financial crisis are much intense on the financial sector. The reduced consumer spending in numerous markets worldwide could increase the cyclical downturn in the automobile industry. The company launched several new products during the year. This acquisition could give the company entry into luxury and SUV segments. Countries including Spain and the UK in Western Europe are suffering from weak property markets and the effects are expected to be similar on the automobile market as well.9 million in 2030. Land Rover Discovery 3. Defender. Miljo will produce electric vehicles based on Tata Motors’ products. and XFR. besides manufacturing of state-of-the-art super polymer lithium ion batteries and the development of related technologies. the company can find huge opportunities to garner higher market share and increase its revenues. Furthermore. The growth rate in Europe and emerging markets is also expected to slow down in the next two years. The key raw materials used in the automobile industry include rolled steel. XKR. the adverse economic situation would reduce the growth in the international automobile market and the company may not be in a position to Page 13 . Further.53 million units during the period. XJ and XK. clean diesel engines. It is further forecast that the number of hybrid vehicle sales could reach 7. affordable and sustainable mobility solutions through electric and hybrid vehicles. Thus.3% holding in Miljo Grenland/Innovasjon (Miljo). plastic materials and resins have increased by 95. it introduced a new truck range. in October 2009. primary aluminum. the margins of the company could be affected. Tata Motors stands to benefit from the plan and garner higher market share. glass. producer price indexes for core raw material inputs such as rolled steel. Financial institutions have tightened their lending criteria and it would mean a fewer number of qualified individuals to avail financing for their cars. Range Rover and Range Rover Sport.

US Dollar and Euro. Published by OneSource Information Services. Sep. These competitive pressures could cause the company’s products to lose market share or result in significant price and margin erosion. which was earlier implemented in the states of New York. which could have a material adverse effect on its business operations. Since these transactions are denominated in foreign currencies. in turn increasing its compliance costs. improving infrastructure and robust growth prospects in its domestic Indian market has lured many global players to foray and exploit the region’s opportunities. In addition. and multiple product platforms. The Step 4 regulations which would follow the Step 3 regulations (implemented earlier in 2005) are expected to be implemented from 2010. The financial crisis has already affected the financial results of the group in 2008 and if the scenario continues. 2010 Page 14 . in Australia. global brand image. safety. there are phase-wise regulations similar to the EURO series of emission regulations. reliability. pricing. ability to control costs and financing terms. new directives are on the way. There is an ongoing discussion among the EU legislative bodies to introduce a more stringent emission standard. Currency Rate Fluctuations The company’s operations are subject to various risks arising from fluctuations in exchange rates related to countries in which it operates. the group may face a major decline in its earnings. Further. The competition in the industry is likely to further intensify with the continuing globalization and consolidation in the global market. which if adopted would be mandated by 2015. All Rights Reserved. fuel economy. The ZEV. In case of failure to adopt in the stipulated time or failure to comply with the regulations at any point of time could lead to hefty fines and penalties on the company. These risks primarily relate to fluctuations of Indian Rupee against GBP. customer service. implemented since 2005. Companies in the industry compete on factors like product quality and features. in the US market..OneSource One-Stop Reports for Tata Motors Limited shield itself against the backdrop. The company imports raw materials. The stricter emission standards could necessitate the company to redesign its vehicles. any adverse fluctuation in these currencies may impact the operational performance of the company. Inc. Similarly. © 2010 GlobalData. After the directive adopted by the European Union (EU) Commission and the EU Parliament to establish stringent emission standards for passenger and light commercial vehicles in 2005 and subsequent years through EURO 4 legislation. innovation and product development time. Intense Competition The growing competition in the automobile industry could impact the business of the company. EURO 5 by 2009 followed by even more stringent EURO 6 standards. Massachusetts and Vermont. These players compete with larger financial capability. regulations equivalent to or more stringent than the Euro 4 are likely to be implemented. capital equipment and components as well as sell its vehicles in various countries. Stricter Emission Standards Stricter emission standards could challenge the company’s operations as a whole. In China too. primarily the US Dollar and Euro. would be extended to the state of Maine and the state of New Jersey from 2009. the California Zero Emission Vehicle (ZEV) regulation has been adopted since 2005.

OneSource One-Stop Reports for Tata Motors Limited Page 15 .

F. Subsidiary Brasilia Brazil Business Services WTI Advanced Technology Subsidiary Chennai India Business Limited Services Tcs Business Transformation Subsidiary Bangalore.4 118 EDB Page 16 . LA United Retail CMC Americas Inc States (Technology) TCS do Brasil S.0 850 420 2.3 10. India Software and Solutions Ltd Karnataka Programming Tata Consultancy Services Subsidiary Kuala Lumpur Malaysia Business Malaysia Services Tata Consultancy Services. States Programming Tata Consultancy Branch Hartford.0 1.2 25.3 187.327. Programming Tata Consultancy Services Subsidiary Singapore Singapore Business Asia Pacific Pte LTD Services Tata Consultancy Services Subsidiary Madrid Spain Business De España Sa Services Tata Consultancy Services Subsidiary Capellen Luxembourg Business Luxembourg Services Tata Consultany Services Subsidiary Courbevoie France Computer France Sas Services Subsidiary Milano Italy Miscellaneous Tata Consultancy Services Financial Italia SRL Services Tata Consultancy Services Subsidiary New York.4 41.8 74. States Programming Tata Consultancy Services Subsidiary Salford United Ltd.A. de C.3 300 200 61 36 35 30. D.7 20. Subsidiary Montevideo Uruguay Business (Uruguay) Services Tata InfoTech Ltd Branch Tata Consultancy Subsidiary Bruxelles Belgium Business Services Belgium Services 6.0 1 400 160 10 IUSA IUSA IUSA IUSA RM IUSA IUSA ACP ACP IUSA IUSA 58.V.000 GW Miscellaneous Financial Services Tata Consultancy Services Subsidiary Mumbai India Software and Limited Programming CMC Limited Subsidiary Hyderabad India Computer Networks Subsidiary Baton Rouge.0 99.8 34 12 0. States Programming Tata Consultancy Branch Atlanta.A.A. Mexico Software and S.700 5. NSW Australia Software and (Australia) Pty Ltd Programming Tata Consultancy Services Subsidiary Seoul.OneSource One-Stop Reports for Tata Motors Limited Corporate Family Corporate Structure News: Tata Sons Ltd Tata Motors Limited Tata Motors Limited Total Corporate Family Members: 401 Excluded Small Branches: 5 (Available via export) Company Name Tata Sons Ltd Company Location Type Parent Mumbai Country India Industry Sales Employees Source (USD mil) 7. NJ United Software and Services Ltd.3 357. Seoul Korea.700 RT RT IUSA IUSA IUSA ACP IUSA GW DPI AX IUSA D&B D&B 1. Subsidiary México. Software and Co Ltd Republic of Programming TCS Argentina S. Subsidiary Buenos Aires Argentina Business Services TCS Solution Center S.5 1. GA United Software and Services Ltd. CT United Software and Services Ltd.6 163. States Programming Tata Consultancy Branch Iselin.551 7 1.1 3. NY United Software and Ltd. Kingdom Tata Consultancy Services Subsidiary München Germany Business Deutschlan Services Tata Consultancy Services Subsidiary Yokohoma Japan Business Japan Ltd.074.2 71.4 595. Services Tata Consultancy Services Subsidiary Sydney.A.

Thomson Pettie Tube Products Ltd. Plated Strip (International) Ltd.4 RM RM Subsidiary London United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom Miscellaneous Capital Goods Nonclassifiable Industries Miscellaneous Capital Goods Commercial Banks Nonclassifiable Industries Nonclassifiable Industries Water Utilities 836.0 13 EXP RM Subsidiary London Simiop Subsidiary London Investments Ltd.5 26 195 EXP EXP Subsidiary Carluke RM 0. Tata Steel International (UK) Ltd.2 2. Ees Group Services Ltd.9 81. Simiop Ltd. Subsidiary Caerphilly Catnic Ltd.0 0.1 16 EXP Subsidiary London Subsidiary London Subsidiary Newport Subsidiary Newport Subsidiary London Subsidiary Corby 7.5 22. Industrial Steels Ltd. Cogent Power Ltd.0 Software and Programming Iron and Steel Commercial Banks Iron and Steel Engineering Consultants Miscellaneous Fabricated Products Commercial Banks Miscellaneous Fabricated Products Miscellaneous Fabricated Products Investment Services Investment Services RM ACP 21. Corus Consulting Ltd. Corus Rail Consultancy Ltd Kalzip Ltd. Teelux Ltd. NSW Subsidiary Mumbai Subsidiary London Subsidiary Leeds Subsidiary York Subsidiary St Helens United Kingdom Australia India United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom 0. Subsidiary Sheffield Subsidiary Sheffield Subsidiary Sheffield Subsidiary Carluke Subsidiary London Subsidiary North Sydney. Ukse Fund Managers (General Partner) Ltd.383 226 156 RT EXP EXP EXP EXP 5.824.1 13 7 EXP EXP EXP RM RM 1. Stewarts And Subsidiary Edinburgh Lloyds (Overseas) Ltd.3 31.0 4 EXP Subsidiary London Subsidiary London Subsidiary Newport Subsidiary London Iron and Steel Commercial Banks Business Services Iron and Steel 1 RM EXP 3. Tata Infotech Ltd Tata Steel Limited Corus Group Ltd. Corus International Ltd. Bailey Steels Ltd.269 40. Subsidiary London Subsidiary Edinburgh Nonclassifiable Industries Commercial Banks Business Services Miscellaneous Fabricated Products Nonclassifiable Industries Commercial Banks RM RM RM RM 9 RM RM Page 17 .0 23.7 58. UK Steel Enterprise Ltd.650. Corus Holdings Ltd. Euro-Laminations Ltd. Corus UK Ltd. Ukse Fund Managers Ltd. Corus Liaison Services (India) Ltd. Corby (Northants) And District Water Co.2 7.OneSource One-Stop Reports for Tata Motors Limited Tata Infotech Ltd. British Steel Samson Ltd.000 6.

(The) Grant Lyon Eagre Ltd. Cpn (85) Ltd. Corus Stainless Uk Ltd. Bs Quest Trustee Ltd. Templeborough Rolling Mills. Hadfields Holdings Ltd. Seamless Tubes Ltd. Firsteel Strip Mill Products Ltd. Corus Brokers Ltd. Corus Finance Ltd. Newport And South Wales Tube Co. P. Westwood Steel Services Ltd. Ltd. Ltd. Bskh Corporate Services (Uk) Ltd. Firsteel Group Ltd. Corus Cold Drawn Tubes Ltd. Firsteel Holdings Ltd. British Steel Tubes Exports Ltd. Toronto Industrial Fabrications Ltd. Corus Rail Ltd. Mistbury Investments Ltd. (The) British Tubes Stockholding Ltd. Blastmega Ltd. Tinsley Trailers Ltd. Subsidiary London RM Subsidiary London RM Subsidiary London Subsidiary London RM RM Subsidiary London Subsidiary London Subsidiary Huddersfield Subsidiary London RM RM RM 3 RM Subsidiary London RM Subsidiary Sutton Coldfield United Kingdom RM Subsidiary Warley United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Construction Supplies and Fixtures Iron and Steel Nonclassifiable Industries Personal Services Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Personal Services Commercial Banks Iron and Steel Nonclassifiable Industries Miscellaneous Capital Goods Personal Services RM RM RM RM RM RM RM RM RM RM RM RM RM Subsidiary London Subsidiary London RM RM Subsidiary London Subsidiary London United Kingdom United Kingdom Iron and Steel Nonclassifiable Industries RM RM Page 18 . British Steel Employee Share Ownership Trustees Ltd.OneSource One-Stop Reports for Tata Motors Limited Subsidiary London United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom Construction Supplies and Fixtures Insurance (Accident and Health) Commercial Banks Construction Services Consumer Financial Services Commercial Banks Nonclassifiable Industries Commercial Banks Commercial Banks Nonclassifiable Industries Nonclassifiable Industries RM Cold Drawn Tubes Ltd. Corus Properties (Germany) Ltd. Corus Quest Trustee Ltd. W. Butterfield (Engineers) Ltd.

Subsidiary Ijsselstein Ut. Noord-Holland Subsidiary Düsseldorf Subsidiary Troisdorf Subsidiary Warren. NordrheinWestfalen Subsidiary Duesseldorf. Walzwerk Rheinland-Pfalz GmbH Subsidiary Niederaula.V. S. Corus Consulting & Technical Services B.7 12.V. Corus Packaging Plus Norway AS Corus Met B. NordrheinWestfalen Trierer Subsidiary Trier.6 1.9 486 399 374 374 IUSA GW IUSA GW IUSA IUSA D&B D&B Subsidiary Bergen Norway 115.0 95. Noord-Holland S. Noord-Brabant Corus Primary Aluminium B. Profil Hessen GmbH Corus International Deutschland GmbH Burgdorfer Grundstuecks GmbH Unitol Sas Subsidiary Duesseldorf.0 224 D&B 3. A.5 90 D&B Germany 150 D&B Germany 29 D&B Germany 27 D&B Germany France Corus Italia SRL Italy Netherlands Netherlands Staalverwerking En Subsidiary Velsen-Noord.V. OH Subsidiary London Subsidiary Voerde Subsidiary Surahammar Subsidiary Hayange Subsidiary Chauny Netherlands Netherlands Norway Waste Management Services Miscellaneous Fabricated Products Miscellaneous Capital Goods Commercial Banks Construction Supplies and Fixtures Construction Supplies and Fixtures Miscellaneous Capital Goods Iron and Steel D&B 477.1 140.A.310.V.V. Noord-Holland Subsidiary Velsen-Noord. Corus Investment B. Corus Distribution Europe B. Noord-Holland Subsidiary Velsen-Noord.000 GW GW Blume Subsidiary Muelheim Stahlservice GmbH Corus Stahl GmbH Subsidiary Duesseldorf.0 D&B IUSA 75. Hille & Müller GmbH & Co KG Mannstaedt GmbH Thomas Steel Strip Corp. Noord-Holland Subsidiary Velsen-Noord.V.V. B. Profiel B. Subsidiary Oosterhout Nb.6 125 D&B 429.8 164. Corus Engineering Steels Ltd Corus Aluminium Voerde GmbH Surahammars Bruks AB Corus Rail France Sa Corus Batiment Et Systemes Corus Packaging Plus Norway AS Subsidiary Ijmuiden Subsidiary Bergen Subsidiary Velsen-Noord. Utrecht Corus Tubes B.000 152.9 294 GW Page 19 .B.1 105 4 IUSA D&B D&B Netherlands Metal Mining Netherlands Miscellaneous Financial Services Netherlands Miscellaneous Financial Services Netherlands Miscellaneous Capital Goods Germany Germany United States United Kingdom Germany Sweden France France Iron and Steel Iron and Steel Miscellaneous Capital Goods Miscellaneous Capital Goods Metal Mining Iron and Steel Iron and Steel Construction Supplies and Fixtures Iron and Steel 9 D&B D&B 5.OneSource One-Stop Reports for Tata Motors Limited Corus Nederland BV Corus Deutschland GmbH Subsidiary IJmuiden Subsidiary Düsseldorf Netherlands Metal Mining Germany Miscellaneous Fabricated Products Germany Miscellaneous Capital Goods Germany Miscellaneous Capital Goods Construction Supplies and Fixtures Construction Supplies and Fixtures Miscellaneous Capital Goods 8.7 8 D&B D&B 176. Handel B.0 50.2 150 IUSA 324. NordrheinWestfalen Subsidiary Corbeil Essonnes Subsidiary Milano 299.966.V.0 680 630 490 161.200 4.2 492.

8 51 176. IL United Miscellaneous Corus Aluminum Rolled States Fabricated Products USA Products 16.0 226 GW Corus Bausysteme GmbH Subsidiary 105. z.2 20 8 3.6 98 80 1.8 50 50 48 42 11.0 100 100 100 BMI GW GW IUSA GW IUSA GW IUSA GW EXP GW GW 189.3 105 GW 42.OneSource One-Stop Reports for Tata Motors Limited Surahammars Bruks AB Subsidiary Surahammar Construction Supplies and Fixtures Koblenz Germany Construction Supplies and Fixtures Netphen Germany Construction Supplies and Fixtures London United Miscellaneous Kingdom Fabricated Products Ivoz-Ramet Belgium Iron and Steel Bethlehem. Kingdom Publishing Corus South East Asia Subsidiary Singapore Singapore Miscellaneous Pte Ltd Capital Goods Norsk Stål Tynnplater AS Subsidiary Fredrikstad Norway Construction Supplies and Fixtures Subsidiary Gennevilliers France Miscellaneous Corus France Sa Capital Goods Subsidiary Trezzano Sul Italy Miscellaneous Corus Aluminium Italia Naviglio Fabricated S.5 2. Subsidiary Montana-Bausysteme AG Corus Metals Malaysia Subsidiary Sdn Bhd Corus Brazil Consultancy Subsidiary Corus Asia Ltd Corus Asia Ltd Subsidiary Subsidiary Subsidiary Subsidiary 75.0 114. IL United Miscellaneous States Capital Goods Namascor BV Subsidiary Moerdijk Netherlands Miscellaneous Capital Goods Subsidiary Swansea United Printing and Afon Tinplate Co. States Subsidiary Schaumburg.5 195 IUSA Fischer Profil GmbH Subsidiary 121.A.0 34 24 D&B IUSA 21 51.0 35. Ltd.599.0 150 GW 65.0 40. PA United Miscellaneous States Fabricated Products Villmergen AG Switzerland Construction Supplies and Fixtures Selangor.7 1.7 37.o. Kuala Malaysia Miscellaneous Lumpur Capital Goods Rio de Janeiro .5 75 74 Subsidiary Schaumburg.1 180 GW Subsidiary Color Steels Ltd Segal Apollo Metals Co.p.4 4 3 GW GW GW IUSA IUSA Page 20 . NY United Iron and Steel Oremco Inc.8 1.0 132 120 EDB IUSA 83.0 30.750. Capital Goods Subsidiary Dublin Ireland Miscellaneous Corus Service Centre Ltd Capital Goods Subsidiary Maastricht Netherlands Miscellaneous Corus Benelux BV Capital Goods Subsidiary New York.0 100 100 100 100 BMI BMI BMI BMI Corus Asia Ltd Corus Middle East FZE Corus Celik Ticaret AS Corus Degels GmbH Corus New Zealand Ltd Corus Hot Rolled Processing Centre Corus ByggeSystemer A/S Corus Steel USA Inc Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary 18.0 30. Brazil Metal Mining Rio de Janeiro Jakarta Selatan Indonesia Metal Mining Quarry Bay.o. Products Subsidiary Katowice Poland Miscellaneous Corus Polska Sp. Hong Kong Construction Hong Kong Services Island Quezon Philippines Coal Dubai United Arab Iron and Steel Emirates Istanbul Turkey Miscellaneous Capital Goods Neuss Germany Miscellaneous Capital Goods Manukau New Miscellaneous Zealand Capital Goods Wolverhampton United Iron and Steel Kingdom Ebeltoft Denmark Iron and Steel Sweden 192.1 25.

Europressings Ltd.0 75.1 250.V.0 IUSA GW RM RM RM RM GW GW RM RM RM RM RM Corus Engineering Steels Subsidiary London Holdings Ltd. Subsidiary Duffel Myriad Hille & Müller GmbH Subsidiary Louvroil Subsidiary Düsseldorf 720.637.V.0 IUSA IUSA IUSA IUSA IUSA Subsidiary Walsall Subsidiary Newport Subsidiary Newport Subsidiary Crosskeys United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom Czech Republic United Kingdom United Kingdom United Kingdom United Kingdom Portugal Spain United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United 75.0 IUSA 75. Corus Rail Infrastructure Subsidiary York Services Corus Central Europe.0 625. British Transformer Cores Ltd. Subsidiary London RM RM Page 21 .0 IUSA RM RM 75. Catnic Corus Construction & Industrial Corus Tubes Laminación y Derivados S. Subsidiary London Precoat International Ltd.OneSource One-Stop Reports for Tata Motors Limited Corus Staal B. Corus Multi-Metals Ltd. Corus Engineering Subsidiary London Steels (Uk) Ltd.0 1.0 625.0 75. Precoat Ltd.0 530 470 D&B IUSA Subsidiary Velsen-Noord.V.0 1. Subsidiary IJmuiden Netherlands Oil and Gas Operations Belgium Miscellaneous Fabricated Products France Iron and Steel Germany Construction Supplies and Fixtures Netherlands Real Estate Operations Netherlands Business Services Netherlands Investment Services United Kingdom United Kingdom United Kingdom United Kingdom Spain Iron and Steel Iron and Steel Iron and Steel Iron and Steel Miscellaneous Fabricated Products Miscellaneous Capital Goods Nonclassifiable Industries Nonclassifiable Industries Miscellaneous Fabricated Products Engineering Consultants Miscellaneous Capital Goods Commercial Banks Nonclassifiable Industries Miscellaneous Fabricated Products Nonclassifiable Industries Miscellaneous Capital Goods Miscellaneous Capital Goods Iron and Steel Nonclassifiable Industries Nonclassifiable Industries Commercial Banks Commercial Banks Chemical Manufacturing Construction 5.750.V.U Corus Firsteel Coated Strip Orb Electrical Steels Ltd. Corus Colorsteels Ltd. Corus Engineering Subsidiary London Steels Overseas Holdings Ltd. Corus Metals Ltd. Noord-Holland Danielli Corus Europe Subsidiary Ijmuiden B. Subsidiary Praha s. Corus Property Tata Steel International Corus International Steelstock Ltd.o.0 75.r.500 IUSA IUSA Corus Aluminium N.0 D&B IUSA IUSA 1. Stichting Subsidiary Beverwijk Pensioenfonds Hoogovens Corus Engineering Steels Subsidiary Rotherham Oostflank B. Subsidiary London Subsidiary São Domingos de Rana Subsidiary Madrid Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary Caerphilly Subsidiary Scunthorpe Subsidiary Corby Subsidiary Durango 1 75.A.0 1.750.

Corus Investments Ltd. Bell & Harwood Ltd. Steel Stockholdings Ltd. British Steel Corporation Ltd. The Clyde Alloy Steel Co. British Steel Service Centres Ltd. Nationwide Steelstock Subsidiary London Ltd.. Subsidiary London Runblast Ltd.OneSource One-Stop Reports for Tata Motors Limited Runmega Ltd. Subsidiary London Subsidiary London Subsidiary London Subsidiary London United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom RM EXP RM Corus Management Ltd. Bore Steel Ltd. Bore Samson Group Ltd. S. Walkersteelstock Subsidiary London Ltd. Subsidiary London Corus Large Diameter Pipes Ltd. S. Pension Fund Trustee Ltd. Ltd. E.1 RM EXP RM RM RM RM Corus Service Subsidiary Lisburn Centre Ltd. Cordor (C&B) Ltd. Subsidiary London Subsidiary London Subsidiary London Subsidiary London Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom Supplies and Fixtures Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Commercial Banks Miscellaneous Financial Services Commercial Banks Miscellaneous Capital Goods Miscellaneous Fabricated Products Nonclassifiable Industries Personal Services Business Services Commercial Banks Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Miscellaneous Fabricated Products Nonclassifiable Industries Iron and Steel Nonclassifiable Industries Nonclassifiable Industries Iron and Steel Nonclassifiable Industries Commercial Banks Nonclassifiable Industries Iron and Steel Iron and Steel RM RM RM RM RM RM Subsidiary London RM EXP RM Corus International Subsidiary London (Overseas Holdings) Ltd. Bright Bar Ltd. C Walker & Sons Ltd. Hoogovens (Uk) Ltd Subsidiary London United Kingdom Hoogovens Aluminium Subsidiary Wolverhampton United U K Ltd. Walker Subsidiary London Manufacturing And Investments Ltd. Subsidiary London British Guide Rails Ltd. B. Harrowmills Properties Ltd. Hammermega Ltd. Kingdom Subsidiary London United Cladding And Decking Kingdom Uk Ltd. British Steel Trading Ltd. British Steel Directors (Nominees) Ltd. RM 2 2. Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary Motherwell Subsidiary Edinburgh Subsidiary London Subsidiary London Subsidiary London RM RM RM RM RM RM RM RM RM RM RM Page 22 . British Steel Engineering Steels (Exports) Ltd. Pension Services Ltd. U.

Samson Ltd. Corus Electrical Ltd.8 100 GW GW Page 23 . Ore Carriers Ltd. Corus Liaison Services (India) Ltd Corus Aluminium Japan Ltd Corus Steel Ltd. European Electrical Steels Ltd. Ash Saudi Arabia Construction Sharqiyah Services Katowice Poland Construction Services Singapore Singapore Miscellaneous Capital Goods Xiamen. Round Oak Steel Works Ltd.878 2.113 450 342 200 RT RT GW DPI GW Corus UK Ltd (Dammam Subsidiary Branch) Subsidiary Corus International NatSteel Holdings Pte Ltd NatSteel (Xiamen) Ltd Tinplate Company of India Ltd NSL Ltd Eastern Pretech (Malaysia) Sdn Bhd Eastern Pretech Pte LTD Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Eastern Industries Pte Ltd Subsidiary Raffles Marina Ltd NSL Engineering Pte Ltd Subsidiary Subsidiary United Kingdom London United Kingdom London United Kingdom London United Kingdom London United Kingdom London United Kingdom London United Kingdom London United Kingdom London United Kingdom Lisburn United Kingdom Benoni South Africa Iron and Steel Tehran Iran Construction Services Seoul Korea.3 2. E. Midland Steel Supplies Ltd. Stanton Housing Co. Corus Aluminium Ltd.500 GW GW 169.4 23. Automotive Laser Technologies Ltd. Corus Engineering Steels Pension Scheme Trustee Ltd. (The) Whitehead (Narrow Strip) Ltd. Walkersteel (Ni) Ltd. Ltd. Tata Steel International Corus Corus International Corus Corus Asia Ltd (CAL) Subsidiary London Subsidiary London Subsidiary London Subsidiary London Subsidiary London United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom India Japan Iron and Steel Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Business Services Miscellaneous Capital Goods Miscellaneous Capital Goods Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries RM RM RM RM RM Subsidiary Chennai Subsidiary Tokyo Subsidiary London Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary GW GW RM RM RM RM RM RM RM RM RM RM GW BMI BMI BMI BMI BMI BMI 3. Corus Stainless Ltd. Corus Engineering Ltd.OneSource One-Stop Reports for Tata Motors Limited H.2 242. Fujian China Iron and Steel Province Kolkata India Containers and Packaging Singapore Singapore Miscellaneous Capital Goods Kuala Lumpur Malaysia Construction Raw Materials Singapore Singapore Construction Raw Materials Singapore Singapore Miscellaneous Financial Services Singapore Singapore Recreational Activities Singapore Singapore Miscellaneous Capital Goods 185 38. Construction Republic of Services Taipei Taiwan Construction Services Ho Chi Minh City Viet Nam Construction Services Dammam.5 120.

Hewitt Robins International Holdings Ltd.9 Miscellaneous Fabricated Products Iron and Steel Miscellaneous Fabricated Products Iron and Steel Fabricated Plastic and Rubber Miscellaneous Capital Goods Iron and Steel Construction Raw Materials Miscellaneous Fabricated Products Iron and Steel Miscellaneous Fabricated Products Miscellaneous Fabricated Products Iron and Steel Construction Supplies and Fixtures EXP 671 473 RT ACP Singapore Australia 350.0 1.0 1. Perak Subsidiary Singapore Singapore Malaysia Singapore Construction Raw Materials Construction Raw Materials Waste Management Services Construction Raw Materials Construction Raw Materials Construction Supplies and Fixtures Real Estate Operations Miscellaneous Financial Services Construction Raw Materials Iron and Steel Iron and Steel Iron and Steel Iron and Steel Miscellaneous Capital Goods Commercial Banks 18. Limited Flextronics Industries (Hk) Ltd NatSteel Trade International Pte Ltd SteelAsia Manufacturing Corporation Wuxi Jinyang Metal Products Co Ltd NatSteel Australia Pty Limited Tata Sponge Iron Ltd Eastern Wire Pte Ltd Joint Jamshedpur Venture Subsidiary Mumbai (Bombay).0 1.6 185.7 1.336 IUSA RT IUSA RT RM Subsidiary Swadlincote Subsidiary Swadlincote NatSteel Asia Pte.376 339 1.3 270 10 GW SDS Page 24 . Pasig Subsidiary Subsidiary Subsidiary Subsidiary Kolkata Bangkok Chonburi Jamshedpur Hong Kong Philippines India Thailand Thailand India United Kingdom United Kingdom India India GW ACP 46. Jiangsu Province Subsidiary Prestons. WA Australia 8 ACP Eastern Steel Services Pte Ltd Easteel Construction Services Pte Ltd Subsidiary Singapore Subsidiary Singapore Singapore Singapore 199. Kowloon Subsidiary Singapore Joint Taguig City Venture Subsidiary Wuxi.0 12. T. S.1 2. Pasir Gudang Subsidiary Putri. NSW Construction and Agriculture Machinery Iron and Steel 27.0 100 49 20 IUSA ACP GW GW GW IUSA 502. Maharashtra Subsidiary Singapore Subsidiary East Rockingham.0 Subsidiary Keonjhar Subsidiary Singapore India Singapore 114.0 450 100 IUSA IUSA Singapore Hong Kong Singapore Philippines China Australia 1.OneSource One-Stop Reports for Tata Motors Limited NSL Chemicals LTD NSL Chemicals (M) Sdn Bhd NSL OilChem Services Pte Ltd Limetreat (M) Sdn Bhd Eastech Indonesia.0 667. Steel Group PCL TRF Ltd.000 1. WA Subsidiary Singapore Subsidiary Kowloon. Hewitt Robins International Ltd Tayo Rolls Ltd(NDA) Tata Ssl Ltd Subsidiary Pasig.2 442 295 RT GW Best Bar Pty Ltd Subsidiary Henderson.5 74 70 15 DPI GW GW Subsidiary Pasir Gudang. Bogor Subsidiary Singapore Malaysia Indonesia Singapore 15 ACP GW GW NSL Properties Pte Ltd Subsidiary Singapore Singapore Singapore GW GW NSL Resorts International Subsidiary Singapore Pte Ltd Eastern Pretech (HK) Ltd Subsidiary New Territories Eastern Steel Fabricators Philippines Inc Tata Ryerson Limited Tata Steel (Thailand) PCL N. PT NSL EnviroTech Pte Ltd Subsidiary Singapore Subsidiary Kepayang. Limited Best Bar Pty Limited NatFerrous Pte.

6 60 1.9 6. (The) Jaguar Cars Overseas Holdings Ltd. S. Auto and Truck Republic of Parts Spain Auto and Truck Manufacturers Singapore Miscellaneous Capital Goods India Engineering Consultants India Auto and Truck Manufacturers India Engineering 597. Subsidiary Coventry United Kingdom Ford Jl Ltd.0 867 383 150 150 100 100 ACP AX GW IUSA IUSA IUSA Page 25 . Chonbuk-do Subsidiary Zaragoza Affiliates Singapore United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom . Subsidiary Coventry (The) GB Cars Distribudora de Subsidiary São Paulo Veiculos Paulo Jaguar Dominicana Subsidiary Santo Domingo Jaguar Croatia Jaguar Cars South Africa (Pty) Ltd Tata Daewoo Commercial Vehicle Co Ltd Tata Hispano Motors Carrocera Sa Tata Precision Industries Pte Ltd TAL Manufacturing Solutions Limited Concorde Motors (India) Limited Tata Technologies Limited Subsidiary Zagreb Subsidiary Pretoria Subsidiary Kunsan. Jaguar Hungary Kft Jaguar Philippines Inc Jaguar Canada Inc Subsidiary Redhill United Kingdom Hungary Philippines Canada Subsidiary Budapest Subsidiary Makati .2 7.5 200 120 IUSA IUSA IUSA GW Tata Motors Limited Land Rover Subsidiary Mumbai Subsidiary Warwick India United Kingdom Malaysia 19.841 100 RT EXP BMI EXP IUSA EXP RM D&B EXP Land Rover (M) Sdn Bhd Subsidiary Selangor Darul Ehsan.0 1.468. ON 60. Subsidiary Coventry Subsidiary Coventry Subsidiary Coventry Subsidiary Coventry Subsidiary Coventry Lanchester Motor Co. Ltd.129.1 200 100 35 11 BMI BMI IUSA EXP RM RM RM RM RM RM BMI BMI BMI BMI Jaguar Cars Exports Ltd.0 64.0 1.OneSource One-Stop Reports for Tata Motors Limited Tata Pigments Limited Jamshedpur Utilities & Services Ltd. Selangor Land Rover Exports Ltd.310 8. São Brazil Subsidiary Chinchwad Subsidiary Bangalore Subsidiary Pune Miscellaneous Capital Goods Commercial Banks Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Nonclassifiable Industries Auto and Truck Manufacturers Dominican Auto and Truck Republic Manufacturers Croatia Auto and Truck Manufacturers South Africa Auto and Truck Manufacturers Korea.0 1.0 1.4 24.7 2.0 65.8 21.268 640 186.0 33.858. Siam Industrial Wire Co Ltd Subsidiary Jamshedpur Subsidiary Jamshedpur Subsidiary Kolkotta Subsidiary Bangkok India India India Thailand Chemical Manufacturing Electric Utilities Business Services Construction Supplies and Fixtures Auto and Truck Manufacturers Auto and Truck Manufacturers Auto and Truck Manufacturers Retail (Specialty) Retail (Specialty) Auto and Truck Manufacturers Commercial Banks Auto and Truck Manufacturers Miscellaneous Financial Services Auto and Truck Manufacturers Miscellaneous Capital Goods Auto and Truck Parts Retail (Specialty) 3.1 7. The Tinplate Company of India Ltd. Ltd. The Daimler Motor Co.872. Subsidiary Brentwood United Kingdom Jaguar Italia SpA Subsidiary Roma.5 30. Metro Manila Subsidiary Brampton.352. Subsidiary Coventry Jaguar Collection Ltd. Cars Ltd. RM Italy Jaguar Cars Finance Ltd. Daimler Transport Vehicles Ltd S.0 1. Subsidiary Warwick United Kingdom Stratstone of Perth Land Subsidiary Perth United Rover Kingdom Jaguar Cars Ltd.

MI Subsidiary Stuttgart Subsidiary Bristol Subsidiary Subsidiary Subsidiary United States Germany 600 20 IUSA IUSA EXP Ford Lrh Jaguar Land Rover (South Africa) (Pty) Ltd Tata Investment Corporation Limited The Indian Hotels Company Limited Taj GVK Hotels & Resorts Limited Oriental Hotels Limited The Taj Hotels Resorts and Palaces Pierre Hotel Voltas Limited Subsidiary Subsidiary Subsidiary United Kingdom Luton United Kingdom Schwalbach am Germany Taunus Chennai India (Madras). Jaguar Deutschland GmbH Concorde Motors Ltd Subsidiary Novi.3 Hotels and Motels 48. QC India 150 ACP Hong Kong Teleglobe Canada Subsidiary London Inc.OneSource One-Stop Reports for Tata Motors Limited Consultants Retail 205.457 121 100 BMI GW RT EXP IUSA IUSA BMI RM 40.9 Hotels and Motels 48. Tamil Nadu Brentwood United Kingdom Pierre Van South Africa Ryneveld Mumbai India India India India India United States India 265 45 25 EXP GW ACP EXP 60 18.614 GW RT RT RT RT IUSA IUSA RT Subsidiary Mumbai Subsidiary Hyderabad Subsidiary Chennai Subsidiary Mumbai Branch New York.086 5.000 8.0 Parts Investment 49. Téléglobe France Subsidiary Paris International S.046.5 Manufacturing Business 456. Maharashtra Subsidiary Mumbai Subsidiary Mumbai Subsidiary Northwich Miscellaneous Capital Goods United Arab Miscellaneous Emirates Capital Goods India Communications Services United Business Kingdom Services Singapore Communications Services Canada Communications Services Canada Communications Services United Kingdom France Communications Services United Arab Communications Emirates Services South Africa Communications Services India Crops India Communications Equipment India India United Kingdom 100 2.0 8 6 IUSA BMI GW 273.0 2. Tata Communications International Tata Communications VSNL International Subsidiary Mumbai (Bombay).656 1.0 Hotels and Motels 43. Communications 486. NY 1.358.6 Scientific and Technical Instruments Electric Utilities 1.406 10.297.7 Services 1.529 RT RT EXP Page 26 .9 8 11 6.500 RT ACP Tata Teleservices (Maharashtra) Limited Tata Chemicals Limited Brunner Mond Group Ltd.0 Services Hotels and Motels 548.769 1.3 6. Maharashtra Subsidiary Aberdeen Subsidiary Dubai Subsidiary Mumbai Subsidiary London Subsidiary Singapore Subsidiary Montreal.3 Tata Technologies Inc INCAT GmbH Incat International PLC Tata Technologies Europe Ltd.750. Tata Teleservices Ltd Subsidiary Gallo Manor Subsidiary Bangalore Subsidiary Mumbai (Bombay).S Tata Communications Ltd Subsidiary Abu Dhabi Neotel (Pty) Ltd Tata Coffee Ltd.0 1.4 Auto and Truck Parts Commercial Banks Auto and Truck 150. QC Subsidiary Montreal.992 4.018 1.1 Programming Retail (Specialty) 99.6 Services Chemical 2.029.000.3 Hotels and Motels 2.A.7 141.7 1.608 Subsidiary Mumbai Rohini Industrial Electricals Pvt Ltd Voltas Ltd Metrovol FZE Tata Communications Limited Tata Communications (UK) Ltd.8 (Technology) Software and Programming Commercial Banks Software and 76.0 1.

0 1.0 3.0 50 18 104.124.000 3. CT Subsidiary Plant City. FL Subsidiary Greenford Subsidiary Secunderabad Subsidiary Mumbai Subsidiary Mumbai Subsidiary Maputo Subsidiary Northlands India India United Kingdom United States United States United Kingdom India 82. Tetley USA Inc.366 170 100.0 4. Ltd. Brunner Mond (UK) Ltd.233.5 27.353 IUSA RT ACP 4. Kowloon Tata Africa Holdings (Ghana) Subsidiary Accra Limited Tata Africa Services Subsidiary Lagos (Nigeria) Tata Africa Holdings Subsidiary Dar es Salaam (Tanzania) Tata Zambia Subsidiary Lusaka Tata Uganda Diligenta Ltd. Tata Tea Inc Tata Global Beverages Capital Ltd. NJ Subsidiary Hosur Subsidiary Singapore Subsidiary Subsidiary Joint Venture Subsidiary Mumbai Hyderabad Delhi RM RM GW 48 988. Maharashtra Tata Elxsi Limited Subsidiary Bangalore Tata Global Beverages Limited Tata Global Beverages Services Ltd. Titan Industries Limited Titan Watches & Jewellery Int'l (Asia Pacific) Pte Ltd Tata Power Company Limited Tata Projects Limited North Delhi Power Ltd (NDPL) Kaltim Prima Coal Pt Subsidiary Northwich Subsidiary Northwich Subsidiary Durban Subsidiary East Hanover.809 5.5 234.989 3. Inc. Ltd.8 487 EXP RM 128.1 964 EXP Page 27 . Brunner Mond Generation Co. Brunner Mond (South Africa) Pty Ltd General Chemical Industrial Products.087 140 GW RT GW GW GW ACP GW GW GW GW GW 85.4 1.2 4.2 540.422 42 45 27 RT RT EXP IUSA IUSA EXP Subsidiary Kowloon.OneSource One-Stop Reports for Tata Motors Limited Subsidiary Northwich Subsidiary Northwich Subsidiary Northwich Subsidiary Northwich United Kingdom United Kingdom United Kingdom United Kingdom Chemical Manufacturing Chemical Manufacturing Construction Services Miscellaneous Fabricated Products United Construction Kingdom Services United Personal Kingdom Services South Africa Miscellaneous Transportation United Chemical States Manufacturing India Jewelry and Silverware Singapore Jewelry and Silverware India Electric Utilities India Electric Utilities India Metal Mining Indonesia India Miscellaneous Capital Goods Miscellaneous Transportation Software and Programming Food Processing Commercial Banks Beverages (NonAlcoholic) Food Processing EXP 227.1 925 EXP Brunner Mond Ltd.0 1.1 250. Transcontinental Holdings Ltd. East Kalimantan Chemical Terminal Trombay Subsidiary Mumbai Ltd (Bombay).6 3.8 2.7 16.000.568 2.820. Subsidiary Kampala Subsidiary Peterborough Commercial Banks Construction Services India Engineering Consultants India Auto and Truck Manufacturers Mozambique Auto and Truck Manufacturers South Africa Auto and Truck Manufacturers Hong Kong Apparel and Accessories Ghana Auto and Truck Manufacturers Nigeria Auto and Truck Manufacturers Tanzania Auto and Truck Manufacturers Zambia Auto and Truck Manufacturers Uganda Auto and Truck Manufacturers United Miscellaneous Kingdom Financial Services 424. Northwich Resource Management Ltd. The Magadi Soda Co.800 RT IUSA BMI ACP ACP Kutai. Tata Projects Ltd Artson Engineering Ltd Tata International Ltd Tata Holdings Moçambique Lda Tata Africa Holdings (SA) (Pty) Limited Tata South-East Asia Ltd Subsidiary Kolkata Subsidiary Greenford Subsidiary Shelton.

© 1983-2010 Reuters Research Inc.OneSource One-Stop Reports for Tata Motors Limited Rallis India Limited Tata Metaliks Limited Trent Limited Landmark Limited Infiniti Retail Limited Nelco Limited TCS Chile Hitech Drilling Services India Ltd. All Rights Reserved. Copyright© 2010 Asian Company Profiles Ltd. Copyright © 2010 DP Information Group Ltd.Non Apparel South Africa Miscellaneous 8.1 239. Tata Global Beverages Gb Ltd. Tata Textile Mills Ltd.Non Apparel India Hotels and Motels United Kingdom Subsidiary Dubai Subsidiary Zug Subsidiary Mumbai 10 BMI IUSA GW Advinus Therapeutics Limited Tata International (Uk) Ltd. Stansand (Brokers) Ltd.0 Emirates Capital Goods Switzerland Business 100.1 412 350 150 100 100 100 50 21 1. All Rights Reserved.4 Kingdom United Nonclassifiable Kingdom Industries United Nonclassifiable Kingdom Industries United Nonclassifiable Kingdom Industries United Food Processing Kingdom United Commercial 0.0 Capital Goods United Business 10.0 Kingdom Banks United Food Processing 0.3 Kingdom United Food Processing 1. Data Noted as Source: ACP. Tata West Asia Tata International AG Tata Industries Ltd Subsidiary Mumbai Subsidiary Kolkata Subsidiary Mumbai Subsidiary Chennai Subsidiary Mumbai Subsidiary Mumbai Subsidiary Santiago Subsidiary New Delhi Subsidiary Moscow Subsidiary Shanghai. All Rights Reserved. Copyright © 2010 Graham & Whiteside Limited Data Noted as Source: RT.0 Kingdom Services United Commercial Kingdom Banks United Food Processing 275. Tata Communications Tata South East Asia Ltd Tata South East Asia Ltd Tata South Africa Holdings SA Pty Ltd Tata Ltd. Tata Global Beverages Overseas Ltd.0 Financial Services India Biotechnology and Drugs United Miscellaneous Kingdom Capital Goods Pakistan Textiles .3 Kingdom United Arab Miscellaneous 24. Kowloon Subsidiary Johannesburg Subsidiary London Subsidiary Greenford Subsidiary Greenford Subsidiary Brentford Subsidiary Greenford Subsidiary Greenford Subsidiary Greenford Subsidiary Greenford Subsidiary Greenford Subsidiary Greenford India India India India India India Chile India Russian Federation China Chemical Manufacturing Iron and Steel Retail (Apparel) Printing and Publishing Retail (Specialty) Security Systems and Services Office Equipment Metal Mining 191.2 226. Tata Global Beverages Holdings Ltd. Data Noted as Source: DPI. Copyright © 2010 by Infotel Información y Telecomunicaciones SA. Lyons Tetley Ltd.0 Communications Services Miscellaneous Capital Goods Hong Kong Textiles . infoUSA. Shanghai Subsidiary Kowloon. Teapigs Ltd. Drassington Ltd. All Rights Reserved Data Noted as Source: AX.0 Services India Miscellaneous 1. Indian Resort Hotels Ltd Tata Inc Tata Incorporated (Uk) Subsidiary Bangalore Subsidiary London Subsidiary Karachi Subsidiary Mumbai Subsidiary Subsidiary London GW RM IUSA GW RM Data Noted as Source: GW. All Rights Reserved. Stansand Ltd. Page 28 . © Copyright 2010. Tata Global Beverages Overseas Holdings Ltd.7 846 711 447 RT RT RT GW GW RT BMI IUSA BMI BMI BMI BMI EXP EXP 624 4 EXP EXP RM RM RM RM 3 1 EXP EXP 75. Data Noted as Source: IUSA.

Inc. Data Noted as Source: RM. Copyright © 2010 Business Monitor International Ltd. All rights reserved. © 2010 Experian Ltd. © 2010 Dun & Bradstreet. All Rights Reserved. All rights reserved. Copyright © 2010 Singapore Data Service Corporate linkage data: © Copyright 2010. Data Noted as Source: SDS. Published by OneSource Information Services. Data Noted as Source: EXP. All Rights Reserved Data Noted as Source: EDB. infoUSA. Ltd. Copyright© 2010 Asian Company Profiles Ltd. Copyright © 2010 Business Monitor International Ltd. Copyright© 2010 Coface Euro DB. All rights reserved. All rights reserved. Data Noted as Source: BMI. © 2010 RM Online. Inc.. 2010 Page 29 . All Rights Reserved. All Rights Reserved.OneSource One-Stop Reports for Tata Motors Limited Data Noted as Source: D&B.

Michigan. 2010 Page 30 . India Turin.. Inc.159 205.984 7.000 878 Ownership Public Public Public Public Public Public Public Public Public © 1983-2010 Reuters Research Inc.658 646 197. India Employees 13. Korea.Sep. Republic of New Delhi.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Competitors Report CompanyName Ashok Leyland Limited Daimler AG Eicher Motors Limited Fiat SpA Ford Motor Company Hyundai Motor Company Maruti Suzuki India Ltd Motors Liquidation Company Swaraj Mazda Limited Location Chennai.662 257. Germany New Delhi. All Rights Reserved. Michigan. United States Seoul.649 178.000 55. United States Punjab. India Detroit. Italy Dearborn. India Stuttgart. Published by OneSource Information Services.

Sc. the holding company for majority of Tata Companies. He was the past president of the confederation of Indian Industry and the Association of Indian Automobile Manufacturers and the vice president of the Tractor Manufacturers Association. in 1960 and 1963 respectively. In 1993. He has held various prominent positions on various Chambers/Associations in the field of research in engineering and technology and technical and management education and is currently associated as a director of several Indian corporates. He has been appointed as Managing Director of the Company effective July 29.322. degrees from the University of Sheffield. URL: http://www. and Ph. As Chairman of Tata Industries Limited since 1981. India. 2008. Nagpur in 1956 with a Gold Medal in Geology and a M. the University of Sheffield conferred upon him the Honorary Degree of “Doctor of Metallurgy”. the Economic Development Board of the government of Rajasthan. Kant has wide and varied experience in the manufacturing and marketing field.com/.Representative of Tata Steel for Tata Motors Limited. Irani is Non-Executive Director .D. as Senior Executive Director (Marketing) and Titan Watches Limited as Vice President (Sales & Marketing). One of his achievements include designing and developing India's first indigenous car . Subodh Bhargava is Non-Executive Independent Director of Tata Motors Limited. He joined the Tata Group in 1962 and is the Chairman of the Tata Group of companies and Tata Sons Ltd.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.000 Subodh Bhargava Non-Executive Independent Director Reuters Biography (Tata Motors Limited) Director/Board Member RT Mr. Jamshed J. particularly in the automobile industry. USA. He holds a Bachelor of Technology degree from the Indian Institute of Technology. Birmingham. with a Gold Medal for the Ph. Mr.Sc. University of Roorkee R. Ratan Naval Tata is Non-Executive Chairman of the Board of Tata Motors Limited. He was appointed as a Independent Director of the Tata Motors Limited on June 27. Gopalakrishnan Jamshed J. Cornell University Ravi Kant Non Executive Vice Chairman Reuters Biography (Tata Motors Limited) Vice-Chairman OSX Mr. Kant has been with the Company since July 2000 as the Executive Director (Commercial Vehicle Business Unit) responsible for manufacturing & marketing of the Commercial Vehicle Business Unit. USA and has completed the Advanced Management Program at Harvard University. he was with Philips India Limited as Director of Consumers Electronics business and prior to which with LML Ltd. He was also a member of the Insurance Tariff Advisory Committee. . 2009. He holds a B.D. Executives Page Executives Report Board of Directors Name Title Function Chairman Source RT Ratan Naval Tata Non-Executive Chairman of the Board Reuters Biography (Tata Motors Limited) Mr. He has obtained a Bachelor of Science degree from Science College. Education (Source: OSX ) M Science. 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. Irani Director Non-Executive Director . Thesis.the "Indica" which has been recognized as one of the strongest brands to have been created of late. London elected him as a foreign member and he is amongst the five Indians who Page 31 . the Royal Academy of Engineering. Prior to joining the Company. 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. (Geology) degree from the Nagpur University in 1958. Education (Source: RT ) BS Architecture. Education (Source: RT ) Mechanical Engineering.Met. 2005. (Architecture) degree from Cornell University.Representative of Tata Steel Reuters Biography (Tata Motors Limited) Director/Board Member Director/Board Member IUSA RT Dr. including Tata Communications Limited and Tata Steel Limited.tatamotors. both with first class. Mr. Tel: 91-22-66658282. He holds a degree in Mechanical Engineering from the University of Roorkee and retired from Eicher Group of Companies as group chairman and chief executive in March 2000. Indian Institute of Technology Compensation/Salary: 1. UK.. Ravi Kant is Non-Executive Vice Chairman of the Board of Tata Motors Limited since June 2. Mr. Kharagpur and a Masters in Science from the University of Aston. he is responsible for transforming the company into a Group strategy think-tank and a promoter of new ventures in high technology businesses. UK. Kant was also employed with Kinetic Engineering Limited and Hawkins Cookers Limited. He also obtained M. Aston University B . In 1996.

He has held various positions as the Managing Director of SICOM. Sam M. Raghunath Anant Mashelkar is Non-Executive Independent Director of Tata Motors Limited. Palia Non-Executive Independent Director Reuters Biography (Tata Motors Limited) Director/Board Member RT Mr. He is a Development Banker by profession. US National Academy of Engineering (2003). Dr Mashelkar is the President of Indian National Science Academy (INSA). finance. Punjab University Raghunath Anant Mashelkar Non-Executive Independent Director Reuters Biography (Tata Motors Limited) Director/Board Member RT Dr. based fund and some European Manufacturing Companies. He is presently providing Consultancy and Advisory Services on Legal. Financial and Regulatory issues related to Infrastructure Development and Industrial Investment to a U. U.e. Education (Source: RT ) PHD . performance driven and accountable organization. Nasser Munjee is Non-Executive Independent Director of Tata Motors Limited. University of Sheffield MS Geology. Mr. Saana (North Yeman) and Industrial Bank of Sudan. Pretoria. Jairath served as the Principal Secretary (Industries).. poverty alleviation. from the Punjab University. rural development.000 scientists from five continents and has been honored with honorary doctorates from 26 universities. Munjee holds a Bachelor's degree from Chicago and a Master's degree from the London School of Economics. since March 31. August 28. Dr. including the JRD Tata Corporate Leadership Award and the Stars of Asia Award (2005). Palia is Non-Executive Independent Director of Tata Motors Limited. The President of India honored Dr Mashelkar with the Padmashri (1991) and the Padmabhushan (2000). Salford. UK. Royal Academy of Engineering.OneSource One-Stop Reports for Tata Motors Limited have been bestowed with this honour. both. Secretary to the Governor of Maharashtra.Public Private Partnership Infrastructure and Advisory Fund. Jairath holds Bachelor of Arts Degree in Public Administration and Bachelor of Laws Degree.f. Mr. In the post liberalized India. Education (Source: RT ) M . U K and joined Indian Administrative Service in 1982. Rashtrasant Tukadoji Maharaj Nagpur University Vinesh Kumar Jairath Non-Executive Independent Director Reuters Biography (Tata Motors Limited) Director/Board Member RT Mr. Dr Mashelkar has won over 50 awards and medals at national and international levels. USA (2000). Jairath has over 25 years of experience in public administration.000 employees. V R Mehta Non-Executive Director Nasser Munjee Non-Executive Independent Director Reuters Biography (Tata Motors Limited) Director/Board Member Director/Board Member GW RT Mr. He was with IDBI from 1964-1989 during which period he held various responsible positions including that of an Executive Director. Mr. University of Sheffield M Metallurgy. Mashelkar has also been elected as Fellow / Associate of Royal Society (FRS). Vinesh Kumar Jairath is Non-Executive Independent Director of the Tata Motors Ltd. infrastructure. Dr Mashelkar through leadership of various organizations/ Government Committees has propagated a culture of innovation and balanced intellectual property rights regime and played a critical role in shaping India's S&T policies. Khartoum ( Sudan ) under World Bank Assistance programmes. Wisconsin and Delhi. besides being an Independent Director on the Boards of Public Sector Companies and Banks. He was appointed as a Director of Tata Motors w. He is currently on the Boards of Maharashtra Airport Development Company and Avantha Power and Infrastructure Limited. He is the Chairman of Development CreditBank (DCB) since June 2005 and is also on the Board of various Multinational companies and Trusts. urban development. Education (Source: RT ) M Economics. Punjab University BA Public Administration.2007.K. Municipal Commissioner of Kolhapur. Collector of Wardha. During his tenure at CSIR for over 11 years. industry. the chain of industrial research and development institutions in the world with about 38 laboratories and about 20. UK and Global Research Alliance. including Universities of London. Institution of Chemical Engineers. 2008. his leadership transformed CSIR into a user focused. National Academy of Science (USA) in 2005. 2009. He is also on the boards of various Tata companies and has been on the Company's Board as a Tata Steel Nominee since June 1993. Irani was conferred honorary knighthood in 1997 by the Queen of England for his contribution towards strengthening the Indo-British Partnership. University of Manchester LLB . London. Government of Maharashtra before he took voluntary retirement from Government Services on March 31.National Innovation Foundation. environmental Management and a touch of the private sector occupying various important positions in the Government of India and the State Government of Maharashtra. (1996) and World Academy of Art & Science. a network of 60.S. He has eminent chemical engineering scientist having recently retired from the post of Director General from the CSIR. Masters in Economics from the University of Manchester. Mr. He has also acted as an advisor to Industrial Bank of Yeman. Dr. His journey in financial sector began with HDFC where he served for over 20 years at various positions including as its Executive Director. London School of Economics Sam M. Mr Munjee is a Technical Advisor on the World Bank . He was also the Managing Page 32 .

Wadia is Non-Executive Independent Director of Tata Motors Limited. Xavier’s College and joined the Indian Foreign Service in 1966. Mr Sen served as a political appointee as Ambassador to the United States during the most rapid and far-reaching transformation of India-US relations from 2004 to 2009. Telang served as Executive Director (Commercial Vehicles) of the Company. Executives Name Carl-Peter Forster P. M. Dharwad and Pantnagar works. manufacturing. Prakash M.400. Mr. he was Joint Secretary to successive Prime Ministers. Ahmedabad. Telang joined the Company in June 1972 and has been responsible. Telang joined the Company in June 1972 and has been responsible. Rashtrasant Tukadoji Maharaj Nagpur University Compensation/Salary: 5.000 N. Rashtrasant Tukadoji Maharaj Nagpur University Compensation/Salary: 5. Prakash M. Mr. space and other tasks. N. Mr. Wadia Non-Executive Independent Director Reuters Biography (Tata Motors Limited) Director/Board Member RT Mr. Prior to his induction on the Board. for product development. Telang Executive Director Reuters Biography (Tata Motors Limited) Mr. Soonawala Director Managing Director-India Operations. N. During his 43 years as a public servant. Education (Source: RT ) . Telang served as Executive Director (Commercial Vehicles) of the Company. Ranendra Sen is Non-Executive Director of Tata Motors Limited. responsible for foreign and defence policies. Mankad Title Function Chief Executive Officer Chief Executive Officer President Division Head Executive Division Head Executive Division Head Executive Source OSX IUSA IUSA IUSA RT RT Group Chief Executive Officer Managing Director President-Passenger Cars Head-Car Plant President . Telang is Managing Director-India Operations. N. N. set up to provide consultancy services to micro enterprises and small and medium enterprises. He is the Chairman of Bombay Dyeing & Manufacturing Company Limited and heads the Wadia Group. Mr. Wadia has been on the Company's Board since December 1998. Prakash M. Company Secretary Operations Executive Administration Executive Company Secretary RT GW RT Page 33 .400.Manufacturing Operations-CVBU Plant Head Jamshedpur Compliance Officer. M. for product development. Telang was the President (Light & Small Commercial Vehicles) and was responsible for manufacturing activities at Pune. Ahmedabad. He is also the Chairman/Trustee of various charitable institutions and non-profit organizations. Telang Executive Director Reuters Biography (Tata Motors Limited) Director/Board Member Director/Board Member IUSA RT Mr. He is a Mechanical Engineer from Nagpur University and a Post Graduate Diploma holder in Business Administration from IIM. sales and marketing functions in the Company.Commercial Vehicles Business Ravindra Pisharody Unit Managing Director-India Operations. he participated in about 180 multilateral and bilateral summits. manufacturing. Sethna Senior Vice President . Ambardekar S B Borwankar H. Mr. A. From 1986 to 1991. Education (Source: RT ) . Dharwad and Pantnagar works. Mr. Telang played a role in cost reduction and e-procurement initiatives which have enabled the Company to turnaround and improve its operations. Mr. Mr. Mr. in various executive positions. He is a Mechanical Engineer from Nagpur University and a Post Graduate Diploma holder in Business Administration from IIM. Prior to his induction on the Board. Telang Rajiv Dube A. Executive Directorof Tata Motors Limited. Palia is on the Boards of various companies in the industrial and financial service sectors and is also actively involved as a trustee in various NGOs and Trusts. Telang is Managing Director-India Operations. Ranendra Sen Non-Executive Director Reuters Biography (Tata Motors Limited) Director/Board Member RT Mr. Telang was the President (Light & Small Commercial Vehicles) and was responsible for manufacturing activities at Pune. Sen graduated from St. Prakash M. atomic energy. Mr. Mr. in various executive positions.OneSource One-Stop Reports for Tata Motors Limited Director of Kerala Industrial and Technical Consultancy Organisation Limited. sales and marketing functions in the Company. Executive Directorof Tata Motors Limited.000 Shrikrishna N. Telang played a role in cost reduction and e-procurement initiatives which have enabled the Company to turnaround and improve its operations. K.

V. Data Noted as Source: IUSA . © 1983-2010 Reuters Research Inc. Leverton S. Mr. A/c & PY Gurav Finance Taxation C.year company-wide IT project responsibility covering R&D.Car Plant. infoUSA. 2010 Page 34 . All Rights Reserved. Rajarao Vikram Sinha Uday K. All Rights Reserved. PCBU Vice President . Krishnan R. Ramakrishnan is the Chief Financial Officer of Tata Motors Limited. Ravishankar Zackria Sait Girish Wagh S. ERC Vice President-Technical Services Head . Ramakrishnan holds a Bachelors of Commerce. Mishra Bharatkumar B. CVBU Chief .Advanced and Product Engineering Vice President .Jamshedpur Plant Vice President-Manufacturing Head . Parekh Nagesh Pinge Chief Financial Officer Vice President-Human Resource Head-Corporate Communications Head .Strategic Sourcing Chief Internal Auditor Finance Executive Human Resources Executive Corporate Communications Executive Advertising Executive Information Executive Information Executive Engineering/Technical Executive Commercial Executive Legal Executive Manufacturing Executive Manufacturing Executive Manufacturing Executive Purchasing Executive Other Other IUSA IUSA IUSA RT RT IUSA RT RT RT RT IUSA RT RT RT RT Data Noted as Source: OSX .Small Car Project Senior Vice President .ADD and Materials. Copyright © 2010 Graham & Whiteside Limited Data Noted as Source: RT . Data Noted as Source: GW . J. sourcing and sales & service. Business Finance Planning Senior Vice President . He handled corporate treasury and accounting functions as well as management accounting.. All Rights Reserved. Sep. Inc. C.OneSource One-Stop Reports for Tata Motors Limited Vice President .Corporate Finance Prakash Y.Engg. Borwankar M. Bagga Satish B. he has been working in the Chairman’s Office for the last 6 years. After a two. Published by OneSource Information Services.Commercial-PCBU Vice President . Gurav Finance Accounts and Taxation Vice President-Corporate Finance.Corporate Finance. Systems. © 2010 OneSource Information Services. Ramakrishnan S. Inc.Legal Head . Tambe Debasis Ray T. Ramakrishnan Chief Financial Officer Finance Reuters Biography (Tata Motors Limited) Abhijit Gajendragadkar Executive Executive Executive Executive RT RT IUSA RT Mr. manufacturing. © Copyright 2010. C. degree and is a qualified Chartered Accountant and Cost Accountant.

OneSource One-Stop Reports for Tata Motors Limited Page 35 .

The size of the issue will depend on what investors want and a sense of where the markets are headed.000. Tata Motors Limited To Raise Up To $1 Billion-Reuters Aug 26.02 billion) through shares. 2010 Reuters reported that Tata Motors Limited is looking at setting up a new plant in India to manufacture small trucks. Ratan Tata said in the Company's annual report for the last fiscal year ended March 31. Tata Motors Limited In Barter Deal For Commonwealth Games-Economic Times Jul 27. Tata Motors Limited Considering New Jaguar. 2010 Dow Jones reported that Tata Motors Limited is considering the introduction of new models under the U.-based luxury car brands Jaguar and Land Rover could lower the cost of developing new engines and vehicle platforms via joint sourcing from auto parts vendors and increased economies of scale due to the Indian maker's robust presence in its domestic market.com. Tata Motors Limited May Set Up India Plant For Small Trucks-Reuters Aug 12. 2010 Dow Jones reported that Tata Motors Limited is planning to integrate technologies with Jaguar and Land Rover as the Mumbai based auto maker tries to cut vehicle development costs. but at the moment the thinking is around $700 million. that the Company hadn't made a decision on the Mexico project. bonds. Land Rover Models-DJ Aug 02.3 million) factory in Mexico this year as part of a plan to sell its vehicles in South America. 2010 Dow Jones reported that Tata Motors Limited is likely to set up a INR12 billion ($257.000 cars a year. Tata Motors Limited May Raise $700 Million Via Sale Of Shares-DJ Aug 18. the website reported one of the people as saying. an entry level vehicle and a new roadster under the Jaguar brand. which could be increased to 300.K-based Jaguar and Land Rover luxury brands and will likely develop variants of its small car Nano for international markets. 2010 Reuters reported that Tata Motors Limited could raise up to $1 billion through a mix of instruments. Tata Motors has been raising funds to repay its debt.K.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Significant Developments Tata Motors Limited Plans To Combine Technologies With Jaguar Land Rover-DJ Sep 01. The plant would have initial capacity of 100. 2010 Reuters reported that Tata Motors Limited is talking to potential joint venture partners (JV) to start assembly line operations for its Jaguar and Land Rover (JLR) brands in China. Debasis Ray. according to livemint. Tata Motors Limited is looking to introduce a station wagon. its Chairman said. The Company would raise about INR47 billion ($1. The Company's spokesperson. however. Increased cooperation between Tata Motors and its U. Tata Motors Limited In Talks For JLR JV Assembly Line Operations In China-Reuters Aug 10. told the website. debentures and other equity linked instruments to cut debt and grow its business. 2010 Dow Jones reported that Tata Motors Limited is likely to sell shares with differential voting rights to raise around $700 million. Tata Motors Limited To Consider INR12 Billion Plant In Mexico-DJ Aug 19. 2010 Page 36 . It will use the funds to expand and reduce debt on its balance sheet.

com reported. 2010 Tata Motors Limited announced that a meeting of the Board of Directors of the Company will be held on June 28. the Company are also aiming to launch a truck with lower payload than the Ace in this fiscal. convertible debentures and bonds in one or more tranches. part of the salt to software Tata group. P. citing two unnamed people familiar with the development. Tata Motors Limited will likely start assembly operations by the end of 2010.OneSource One-Stop Reports for Tata Motors Limited The Economic Times reported that Tata Motors Limited will provide as many as 1.K. 2010 Dow Jones reported that Tata Motors Limited's Board approved raising about INR47 billion ($1 billion) via a mix of debt and equity. which owns the U. the newspaper said. 2010 Dow Jones reported that Tata Motors Limited is planning to assemble a few Land Rover models in India. and launch the locally assembled Freelander model by the end of June 2011. the website said. The Company. It will raise the funds through an issue of A class shares. Tata Motors Limited To Launch Smaller Land Rover In UK Next Year-DJ Jun 30. The auto maker also sought shareholder approval to raise its borrowing limit to INR300 billion from INR200 billion. will use the funds for expansion and to reduce the debt on its balance sheet. The Company decided on an issue of convertible bonds overseas rather than a rights issue of ordinary shares or 'A' class ordinary shares because most shareholders would expect a rights issue to be priced at a discount to the market price. DNA Money reported. Tata Motors Limited Mandates UBS For Convertible Note Issue-DJ Jul 02. 2010. citing Tata Motors' Managing Director. Telang. Tata Motors Limited Plans Assembly Unit In South Africa-DJ Jun 25.based Jaguar and Land Rover brands. the Mint newspaper reported. 2010 Dow Jones reported that Tata Motors Limited and Jaguar Land Rover are working on a concept car for emerging markets. Tata Motors Limited To Raise $1 Billion To Reduce Debt. Tata Motors Limited To Raise Long Term Capital Funds Jun 23. 2010 Reuters reported that Tata Motors Limited is looking at setting up an assembly unit in South Africa for medium-sized and small trucks.M. 2010 Dow Jones reported that Tata Motors Limited expects to launch its Magic Iris van by September or October. Page 37 . next year. According to the unique arrangement with the Commonwealth Games Committee.800 new cars to the organisers of Commonwealth Games to ferry athletes in lieu of its advertisements as a logistics solutions sponsor for the 12 day sporting event. Besides. will decide the structure and timing of the issues depending on market conditions. citing Tata group officials. The car is at a development stage. 2010 Dow Jones reported that Land Rover. plans to launch a small vehicle in the U. to consider various options for raising long term capital funds. the website reported the officials as saying. Expand Operations-DJ Jun 28. 2010 Dow Jones reported that Tata Motors Limited has appointed UBS to lead manage a convertible note issue as part of its plans to raise INR47 billion ($1 billion). Tata Motors Limited To Launch Magic Iris Van By September Or October-DJ Jun 25. mydigitalfc. Tata Motors would provide these vehicles in exchange for association with the event and will take them back after the event. Tata Motors Limited Plans To Assemble Land Rover Models In India-DJ Jun 23.K. The Company. warrants. a car brand owned by Tata Motors Limited. Tata Motors Limited And Jaguar Land Rover Plan Emerging Market Car-DJ Jun 28. Tata Motors Limited will use its factory at Pimpri near Pune in the western state of Maharashtra to assemble the Freelander.

OneSource One-Stop Reports for Tata Motors Limited
Tata Motors Limited To Be Sole Supplier Of Vehicles For Commonwealth Games-DJ Jun 18, 2010 Dow Jones reported that Tata Motors Limited will be the sole supplier of close to 2,000 cars, jeeps and trucks for the Commonwealth Games in Delhi in October, the Business Standard reported, citing the organizing committee of the Commonwealth Games. Orders have been placed with Tata Motors Limited for nearly 1,800 cars for during the games, and further vehicles for the Queen Baton Relay starting June 25.

Tata Motors Limited Aims To Raise INR1.5 Billion Via Bonds- DJ Jun 11, 2010 Dow Jones reported that Tata Motors Limited aims to raise INR1.5 billion via bonds. The Company plans to sell 10-year bonds paying a yield of 9.70%. The issue will open later Friday and close Wednesday. Other details such as the use of the funds were not immediately available.

Tata Motors Limited Sells INR1 Billion Of Commercial Paper-Reuters Jun 03, 2010 Reuters reported that Tata Motors Limited raised INR1 billion via short-term debt. It sold one-year notes yielding 6.85% to a bank.

Tata Motors Limited Inaugurates West India Factory For Nano Mini Car-DJ Jun 02, 2010 Dow Jones reported that Tata Motors Limited has opened the first dedicated factory for the Nano mini car, a move which will help the Company clear a large backlog of orders. The 624 cubic centimeter, snub nosed car with a rear gasoline engine will now also be produced at Tata Motors' plant at Sanand, in the western state of Gujarat. Built with an investment of INR20 billion, the factory will have an initial capacity of 250,000 cars a year, which will be ramped up in phases. Tata Motors began deliveries of the Nano, last July from an existing factory at Pantnagar in the northern state of Uttarakhand after receiving a record 206,703 bookings during April-June 2009. It plans to complete delivering the first 100,000 Nano cars by December 2010. The Company isn't taking new orders for the car due to the backlog.

Tata Motors Limited And Jaguar Land Rover To Combine Expertise -DJ Jun 01, 2010 Dow Jones reported that Tata Motors Limited and Jaguar Land Rover are to form a joint management team to combine their expertise, with Tata Motors Limited handling the engineering side and Jaguar Land Rover the design, the Economic Times reported, citing people familiar with the move. With Tata Motors Limited making country-specific models of Jaguar and Land Rover for certain markets like China and Russia, common parts will reduce expenses, the website quoted a senior JLR executive as saying.

Tata Motors Limited Recommends Dividend May 27, 2010 Tata Motors Limited announced that the Board of Directors has recommended a dividend of INR15 per share on ordinary shares for financial year 2009-2010 and a dividend of INR15.50 per share on A ordinary shares for financial year 2009 (INR6 per share on ordinary shares and INR6.50 per share on A ordinary shares for financial year 2008-2009).

Tata Motors Limited In Talks With Mexico's Metalsa For Contract Manufacturing Deal-DJ May 18, 2010 Dow Jones reported that Tata Motors Limited is in talks with Mexico-based Metalsa SA de CV for a contract manufacturing arrangement, livemint.com reported, citing two people familiar with the development. If the talks are successful, the unit will manufacture the Indica Vista, Indigo Manza and the Nano, the website said.

Tata Motors Limited Plans To Launch Passenger Car In Thailand-DJ May 17, 2010 Dow Jones reported that Tata Motors Limited plans to launch a fuel-efficient and environment-friendly passenger car in Thailand despite pulling out of an eco-car project there, the Press Trust of India reported, citing a Tata Motors spokesperson.

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OneSource One-Stop Reports for Tata Motors Limited
Genovation Cars Selects Tata Motors Limited's Tata Technologies To Design and Prototype Its Green Electric Automobile May 10, 2010 Genovation Cars Inc. announced that it has selected and contracted with Tata Motors Limited's Tata Technologies to design and prototype its G2 model. Tata Technologies was one of four design firms vying for the Genovation contract. The G2 model that Tata will develop will incorporate Genovation's research and development that went into its G1 model, an electric conversion of a Ford Focus. The conversion included the installation of an electric motor, battery string, battery management system, safety system, HVAC, controller and instrumentation. During the first phase of development, which will occur over a five-month period, Tata will provide Genovation with two design iterations to include two-door and four-door versions; two quarter-scale models; detailed time-line; and bill of material, aerodynamic analysis, and crash analyses. Tata serves as the prime contractor and will sub-contract with Metalsa for the structural design and manufacturability analysis, and with Dana Thermal Products for the cars' thermal operations (electric systems cooling and cabin climate control).

Tata Motors Limited To Sell INR1 Billion Of Bonds-Reuters May 10, 2010 Reuters reported that Tata Motors Limited will sell INR1 billion of bonds this week. The 10-year bonds carry a coupon rate of 9.75% and are rated 'AA-minus' by CARE and 'A-plus' by ICRA. Yes Bank is arranger to the issue.

Tata Motors Limited Arm Plans To Raise INR1 Billion Via Short-Term Debt-DJ May 05, 2010 Dow Jones reported that the vehicle financing arm of Tata Motors Limited aims to raise INR1 billion via short-term debt. Tata Motors Finance Ltd. is selling INR500 million of three-month commercial paper and INR500 million of four-month commercial paper. The threemonth paper pays a yield of 4.60% and the four-month paper has been priced at 4.80%. Both issues will be privately placed. Other details, such as the end use of the funds, weren't immediately available.

Tata Motors Limited Aims To Raise INR1.5 Billion Via Bonds-DJ May 03, 2010 Dow Jones reported that Tata Motors Limited aims to raise INR1.5 billion by selling bonds. India's auto maker by revenue plans to sell 10-year bonds paying a coupon of 9.90%.

Tata Motors Limited Ties Up With Indian Overseas Bank For Vehicle Financing-Business Standard Apr 26, 2010 Business Standard reported that Tata Motors Limited said it has entered into an understanding with public sector lender Indian Overseas Bank for financing its commercial vehicles across the country.

India Regulator Says Tata Motors Limited Can Issue Fresh Class A Shares-DJ Apr 26, 2010 Dow Jones reported that India's capital markets regulator said Tata Motors Limited's existing listed class A ordinary shares will continue to have their existing rights. In a notice, the Securities and Exchange Board of India said also that the auto maker can make a fresh issue of ordinary A shares through either a public offering, preferential allotment, an institutional share sale, a bonus issue or a rights issue. The regulator's notice was in response to a query by Tata Motors Limited on whether existing holders of its class A shares will continue to hold all existing rights and be entitled to receive superior dividends as compared with holders of other ordinary shares. The regulator said also that Tata Motors Limited can issue class A shares when holders of convertible alternative reference securities or employee stock options opt to convert their holdings to these kind of shares. The conversion into fresh A shares will be on the same terms as the existing A shares, it added.

France's Moselle Province To Approach Tata Motors Limited Over Possible Nano Plant-DJ Apr 14, 2010 Dow Jones reported that the French province of Moselle said Tata Motors Limited should examine the possibility of setting up a manufacturing unit there for its Nano car, a move that would help the Company quickly expand the car's market across Europe, the Press Trust of India (PTI) reported, citing Moselle Development Agency Director General David Malingrey. Tata Motors Limited should take a look at the Moselle province for establishing manufacturing and logistics units for Nano cars, the PTI quoted Malingrey as saying on the sidelines of the JEC Composites Show. By the end of this month, they are planning to contact Tata Motors Limited in India with a proposal to look at the investment opportunities here for the Nano, Malingrey said, the PTI reported.

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OneSource One-Stop Reports for Tata Motors Limited
Tata Motors Limited May Sell 24% Of Cummins Engine Joint Venture-DJ Apr 12, 2010 Dow Jones reported that Tata Motors Limited is looking at selling a 24% stake in an equal joint venture with U.S. based Cummins Engine Co. for INR5 billion.

Tata Motors Limited May Sell 24% Of Cummins Engine Joint Venture Apr 12, 2010 Dow Jones reported that Tata Motors Limited is looking at selling a 24% stake in an equal joint venture with U.S.based Cummins Engine Co. for INR5 billion.

Tata Motors Limited Calls For Quotes For 10 Year Bond-DJ Apr 09, 2010 Dow Jones reported that Tata Motors Limited has called for quotes to price a 10 year bond. The Company is exploring raising INR2 billion via the issue of the 10 year bond.

Tata Motors Limited's Arm Aims To Raise INR2 Billion Via Bonds-DJ Apr 08, 2010 Dow Jones reported that the vehicle financing arm of Tata Motors Limited aims to raise INR2 billion by selling bonds. Tata Motors Finance Ltd. is selling 10 year bonds paying a coupon of 10.70%. The issue is currently open and is likely to close on April 12, 2010.

Tata Motors Limited's Bondholders Opt For Conversion-Business Line Mar 31, 2010 Business Line reported that Tata Motors Limited's bondholders had opted to convert their bonds into ordinary shares. Through this offer, the Company was able to extinguish debt worth $345 million (about INR1,550 crore) of these bonds at current exchange rates. The Company has allotted 26.64 million equity shares to the bondholders. Bondholders representing 93% of the Yen bonds and 76% of the dollar bonds opted to convert their bonds into ordinary shares. The Company had offered bondholders of zero per cent JPN11,760 million and 1% $300 million convertible bonds an option to convert the bonds into ordinary shares between March 23, 2010 and March 29, 2010 .

Tata Motors Limited Announces Appointment Of Managing Director Mar 30, 2010 Tata Motors Limited announced that at the meeting of the Board of Directors held on March 30, 2010, Mr. Carl-Peter Forster was appointed as the Managing Director of the Company with effect from April 01, 2010.

Tata Motors - Divests 20% stake In Telcon In Favour Of Hitachi Construction Company Ltd, Japan Mar 30, 2010 Tata Motors Limited, Hitachi Construction Machinery Co. Ltd. and Telco Construction Equipment Company Limited, a 60:40 joint venture company between Tata Motors and Hitachi, signed an agreement under which Tata Motors has sold a further 20% stake in Telcon in favour of Hitachi for a consideration of INR1159 crores. Consequently Telecon will be owned 60% by Hitachi and Tata Motors. Standard Chartered Bank and AZB Partners have been Financial and Legal Advisors respectively for the Company to this transaction.

Tata Motors Limited Sells INR1 Billion Of MIBOR Linked Bonds-Reuters Mar 23, 2010 Reuters reported that Tata Motors Limited has raised INR1 billion via MIBOR-linked bonds with a daily put/call option. The coupon rate on the bonds is just the MIBOR rate, with no spread as premium. Settlement is in T+1 format, overnight NSE MIBOR is 3.60%.

Tata Motors Limited Announces Proposed Conversion Offer Mar 23, 2010 Tata Motors Limited announced that it is inviting holders of its outstanding JPY11,760,000,000 zero coupon convertible notes due March 2011 convertible into shares or American depository shares (ADS) (the Yen Notes) and USD300,000,000 1% convertible notes due April 2011 convertible into share or global depositary share (GDS) (the Dollar Notes, and together with the Yen notes, the Notes) to submit

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citing a person familiar with the development. 2010 Page 41 . to various groups of investors through the capital market. 2010. The shares represent a 5. Daimler AG Sells Equity Interest In Tata Motors Limited Mar 09. State Bank of India may take a 49% stake in Tata Motors Finance. 2010 Reuters reported that shares in Tata Motors Limited rallied more than 11% as investors cheered the Company's strong sales growth in February and improved working at its UK based Jaguar and Land Rover unit.. Ltd. 2010 Dow Jones reported that Tata Motors Limited plans to sell its 60% stake in unit Telco Construction Equipment Co. 2010 Reuters reported that according to the Mint newspaper.00 p.m. Daimler AG To Sell Up To $429 Million Stake In Tata Motors Limited-Reuters Mar 08.34% stake in Tata Motors. the report said. to its Japanese partner Hitachi Construction Machinery Co. sold all of its 5. Telco Construction Equipment makes backhoe loaders. so Daimler will receive a substantial cash inflow of approximately EUR300 million from the sale of its shares. wheel loaders and other equipment used in infrastructure projects. Ltd.. Daimler is offering 25. The factory at Magwe in Myanmar is expected to be operational during JanuaryMarch 2011 Tata Motors Limited Plans To Sell Stake In Joint Venture To Partner Hitachi Construction Machinery Co.3 each. a discount of 4% to 7% below the stock's Monday close of INR796. 2010 that has been sent to holders of the notes. Ltd. 2010 Reuters reported that Tata Motors Limited is keen to sell a stake in its financing arm.4 to INR761. A stake in the Tata Motors unit would allow State Bank of India to expand into the trucks and buses segment where it currently has no presence. the vehicle financing unit of Tata Motors Limited.34% of the ordinary shares of Tata Motors Limited. especially last year. 2010 Reuters reported that Daimler AG is selling up to $429 million worth of shares in Tata Motors Limited at a discount of up to 7% to the stock's Monday closing price. It didn't give any reason for the likely stake sale by Tata Motors Limited. State Bank of India May Buy Stake In Tata Motors Limited's Tata Motors Finance-Reuters Feb 16. (London time) on March 29.. to set up a factory for making heavy trucks in the Southeast Asian country. excavators.-DJ Mar 22. Result-Reuters Mar 02. Tata Motors Limited Announces Appointment Of Group Chief Executive Officer Feb 15. the Mint reported on its Web site. 2010 (the Auction period) upon the terms of set out in an invitation memorandum dated March 23. 2010 Dow Jones reported that Tata Motors Limited has signed a pact with Myanmar Automobile & Diesel Industries Ltd. Note holders will receive on the terms set out in the invitation memorandum.75. Tata Motors' share price has risen significantly. Tata Motors Limited Up On Robust February Sales. Tata Motors Limited Eyeing Stake Sale In Financing Unit-Reuters Feb 16.6 million shares in Tata Motors at INR737. 2010 Daimler AG announced that it has on March 9. as the case may be. 2010 and 4.OneSource One-Stop Reports for Tata Motors Limited applications in an auction to convert the Notes into share ( invitation) between March 23. the option to convert the Yen notes into ADSs or Dollar notes into GDSs is not available to converting pursuant invitation. The Company has been divesting holdings in group firms to raise funds. Tata Motors Limited In Pact To Build Heavy Truck Plant In Myanmar-DJ Mar 22. share upon conversion of the Yen notes and the Dollar notes at certain enhanced conversion rations (based on the price options and volume weighted average price across the auction period) upon submission during the auction period of a valid application selecting at least one price option in respect of the Yen notes or the Dollar notes. Talks have already begun and a deal is likely in three months.

p. and expand its joint venture with Fiat S. Tata Motors Limited Aims To Raise At Least INR2 Billion Via Bonds-DJ Feb 11. 2009 Reuters reported that Tata Motors Limited denied it had any interest in acquiring a stake in Indian truck and bus maker Swaraj Mazda Limited. Tata Motors Limited plans to acquire SUMITOMO CORPORATION's 53.7% respectively in Swaraj.com reported. in Mumbai.95%. Other details were not immediately available. livemint. The government imposed a penalty of INR4 crore (INR40 million) on Tata Motors Limited and decided to withhold payment of INR150 crore (INR1500 million) against the delivery of 390 buses till the maintenance issues were sorted out. He was quoted by the paper as saying that Tata Motors Limited's business with Fiat S. 2009 Hindustan Times reported that the Delhi government threatened to initiate criminal proceedings against Tata Motors Limited if another low-floor bus caught fire in future. including Jaguar Land Rover. 2009 Dow Jones reported that Tata Motors Limited is ready to strengthen its ties with Fiat S.p. citing Managing Director of Tata Africa Holdings (SA)(Pty) Ltd.p. 2010 Dow Jones reported that Tata Motors Limited aims to raise at least INR2 billion by selling bonds. includes a mandatory 20% open offer to other shareholders. Tata Motors Limited Eyes SUMITOMO CORPORATION's Stake In Swaraj Mazda-Reuters Dec 10. The Company plans to sell 10 year bonds paying a coupon of 9. The deal value. La Repubblica reported in its Thursday Internet edition. Tata Motors Limited Expanding Joint Venture With Fiat S. 2009 Business Standard reported that Tata Motors Limited has tied up with Vijaya Bank for financing its range of commercial and passenger vehicles to provide an added facility of finance to its customers. Delhi Warns Tata Motors Limited Over Bus Fire-Hindustan Times Dec 15.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited announced that the Company has appointed Mr Carl-Peter Forster as the Group Chief Executive Officer of the Company. are likely to participate in the open offer if Tata Motors buy SUMITOMO's stake. The issue has an option to retain an unspecified additional amount. He will have the overall responsibility of Tata Motors Operations globally.p. is growing and it's expanding to other models. Claudio Scajola. Tata Motors Limited. 2010 Dow Jones reported that Tata Motors Limited and Ashok Leyland Limited will introduce 15 new truck models.A. Tata Motors Limited Denies Interest In Swaraj Mazda Limited-Reuters Dec 16.3% and 7. CDC Group and Actis. Ashok Leyland plans to launch 15 new truck models under its new U-Truck platform by March 2011.A. chairman of Tata Group at a meeting with Italian Industry Minister. Vijaya Bank In Tie Up For Financing Vehicles-Business Standard Dec 10. if the plan succeeds. Tata Motors Limited And Ashok Leyland Limited To Launch New Trucks-DJ Jan 06.5% stake in truck and bus maker Swaraj Mazda in a deal worth up to $54 million to boost its commercial vehicles business. It is said that private equity investors. on any platform and product. 2010 Dow Jones reported that Tata Motors Limited is making initial preparations for a launch of its Nano car in Africa. Page 42 . Tata Motors Limited Plans To Launch Nano In Africa-DJ Jan 08. To Other Models-DJ Dec 17. Tata Motors will introduce three new heavy trucks in India by March from its Prima range of so-called world trucks. which own 9.A.A. 2009 Reuters reported that according to the Economic Times. citing Ratan Tata.

A. 2009 Reuters reported that Tata Motors Limited is planning to produce hybrid versions of its Nano. Oct 20.7% direct stake in Swaraj Mazda Limited and a further 9. managing director incharge of India at Tata Motors.64 billion ($56. The newspaper reported Vice Chairman as saying at the Economist Innovation conference in London that the Company may allow the setting up of micro-assembly sites. Spain.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Plans Nano Hybrid Cars-Reuters Nov 30. as it is struggling in the global financial downturn. A. the Web site said. citing a spokesperson for the Company. Telang. the paper said. Tata Motors Limited Mulls Letting Assemblers Brand Nano-DJ Nov 01. The new car will be offered in four versions with the base model costing INR480.000 units a year. Tata Motors Limited Declines To Comment On Swaraj Mazda Stake Buy-DJ Nov 24. through mutual agreement with the other share holder.A. The Company has previously acquired 21% stake in Hispano Carrocera S.. launched in August.8 million) through its revised fixed-deposit scheme. Investalia S. 2009 Dow Jones reported that Tata Motors Limited is looking at buying private equity company Actis' stake in commercial vehicle and bus maker Swaraj Mazda Limited. the Business Standard reported on its Web site. It will boost the working capital for Jaguar by shortening the 30.3% through its CDC unit. 2009 Dow Jones reported that Tata Motors Limited declined to comment on a newspaper report that Tata Motors Limited is looking to buy private equity firm Actis' stake in commercial vehicle maker Swaraj Mazda Limited. a Kolkata-based engineering company and other private equity funds who are exploring the possibility of buying the stake from Actis. Tata Motors Limited Raises INR2. citing people familiar with the matter.000 at showrooms in New Delhi and the top end model will cost INR675. the newspaper said. citing unnamed people.64 Billion In New Fixed-Deposit Scheme-DJ Nov 17.000.M. the Business Standard reported on its Web site.3% through its CDC unit. the Economic Times reported on its Web site. Actis holds a 7. P. The five-year loan would help the Jaguar Land Rover.. Tata Motors Limited To Launch New Indigo Manza Sedan Later Wednesday-DJ Oct 14. according to the Financial Times newspaper. citing the Company's Vice Chairman.to 40-day gap it has to wait between producing cars and delivering them to dealerships. No comments. The Economic Times reported earlier in the day. by way of exercise of the existing call option. 2009 Reuters reported that Jaguar Land Rover is expected to announce on Monday that it has secured a GBP170-million ($282. 2009 Dow Jones reported that Tata Motors Limited is considering allowing local assemblers to build its Nano car and sell it under a brand of their own. 2009 Dow Jones reported that Tata Motors Limited said that it will introduce later Wednesday its new Indigo Manza sedan that will replace the current Indigo model. Tata Motors Limited Acquires Remaining 79% In Hispano Carrocera S. each producing around 10. owned by Tata Motors Limited. A. Actis holds a 7.5 million) working capital facility from GE Capital.7% direct stake in Swaraj Mazda Limited and a further 9. 2009 Tata Motors Limited announced that it has acquired 79% stake in Hispano Carrocera S. Page 43 . told reporters on the sidelines of an industry conference. that Swaraj Mazda Limited is among other auto makers. Tata Motors Limited Eyes Actis Stake In Swaraj Mazda-DJ Nov 23. Tata Motors Limited's Jaguar Land Rover Gets GBP170 Million Loan-Reuters Nov 16. 2009 Dow Jones reported that Tata Motors Limited has raised INR2. The loan will be drawn down as soon as vehicles are made in its three UK production lines. the paper said.

Tata Motors Limited's Jaguar Land Rover has secured a GBP175 million loan from the State Bank of India. Tata Motors Limited Raises $750 Million Through Issue Of Global Depositary Shares (GDSs) and Convertible Notes (Notes) Oct 09. aggregating $375 million and 3750. 2009 Business Standard reported that Tata Motors Limited said its wholly owned European subsidiary. The Company said a review was under way as to which of the two plants would be closed. the Company has launched an issuance of GDSs and convertible notes for an aggregate amount upto $600 million. with an option to retain higher amount in the international market. aggregating $375 million (together. The intends to use the net proceeds from this offering for repayment of debt incurred in connection with the acquisition of Jaguar Land Rover. working capital and other general corporate purposes. size. 2009 Dow Jones reported that ABC International Bank said that it had completed a $90 million committed trade financing facility for U. The Company said that there would be no compulsory redundancies and it would develop a new low carbon Range Rover model.Sep. the offering). Tata Motors Limited To Merge 2 U. Tata Motors Limited Gets INR780 Million Loan From UK Government For Electric Car-Business Standard Sep 18. carmaker Jaguar Land Rover.K.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited's Jaguar Land Rover Gets $90 Million Trade Facility From ABC International Bank-DJ Oct 12. All Rights Reserved.54 per GDS. supporting the Company's exports to the Middle East and North Africa. The facility complements existing trade financing facilities between ABC and Jaguar Land Rover.K. the outstanding of which stands at $700 million and for the other purposes such as capital expenditure. Published by OneSource Information Services. with the decision due to be announced in the first half of 2010. Inc. according to Jaguar's chief financial officer. 2009 Dow Jones reported that according to BBC report. Tata Motors Limited To Launch Freelander SUV On September 22-Business Standard Sep 18. a unit of India's Tata Motors Limited. These GDSs and notes together aggregating $750 million will be listed on the Luxembourg Stock Exchange. Tata Motors Limited's Jaguar Land Rover Gets GBP175 Million Loan From State Bank India-DJ Oct 07. 2009 Tata Motors Limited announced that it has issued 29904306 new equity shares in the form of Global Depositary shares (GDSs) at a price of $12. Tata Motors European Technical Centre. After the approval of the Committee. The loan is under the UK government's Automotive Assistance Programme (AAP). 2009 Tata Motors Limited announced that its Board has authorized a committee of the Board to consider and approve raising of long term capital by the Company including the quantum. Tata Motors Limited Launches GDR And Convertible Notes Issue Oct 09. to develop and manufacture the Tata Indica Vista Electric Vehicle in the UK with an investment of GBP25 million (about INR195 crore). 2009. 2009 Reuters reported that Tata Motors Limited said that it will merge two of its three Jaguar Land Rover (JLR) auto plants in England by 2014. Freelander 2 on September 22. Jaguar Land Rover Plants-Reuters Sep 24.950 million) electric car project. 4% coupon convertible notes due 2014 at a price of $100000 per note. creating new jobs. 2010 Page 44 . has got a loan of GBP10 million (INR780 million) from the UK government for its INR195 crore (INR1. 2009 Business Standard reported that Tata Motors Limited is launching its product. terms and type of security as permissible under the existing shareholders resolution.. ©1983-2010 Reuters Research Inc.

OneSource One-Stop Reports for Tata Motors Limited Page 45 .

CSNA3. which threatens to cripple its economy.SE) should Related Geographies Asia Europe North America Japan Macedonia South Korea United States New York Related Industries 1000 Metal mining 2700 Printing and publishing 2800 Chemicals & allied products 2830 Drugs 3570 Office.TO) climbed 2. computing & accounting machinery 3651 Household audio and video equipment 3674 Semiconductors and related devices 3710 Motor vehicles and equipment 3990 Miscellaneous manufacturing industries 4810 Telephone Communications 6000 Depository institutions Related Companies Anglogold Ltd Deutsche Telekom AG Genzyme Corporation Honda Motor Co Ltd Korea Exchange Bank Magyar Tavkozlesi Vallalat News Corporation Nissan Motor Co Ltd Sanofi-Aventis SA Sony Corp Tata Engineering & Locomotive Co The Bank of New York Co Toyota Motor Corp Woori Finance Holdings Co.2% to $15.. (GENZ). Sony Corp.98. 053000.29. (HMC.TO) gained 2% to $71.2% to $13.57. Genzyme's board rejected the bid as "an unrealistic starting price" and declined to start talks.80. The size of the deal hasn't been announced.BR) received nearly $7 billion in orders for its perpetual bond offer.69. 7203.66. The European index rose 0.5% to $16. saying signals indicate sales of TVs. Deutsche Telekom has a majority stake in the Hungarian telecom operator. but market participants were expecting a $1 billion sale. (TM.58.4% to $32.FR) said it plans to remain disciplined in its pursuit of U. set to price later today.22 and 2.] By Adam Cancryn Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed mixed Wednesday as investors weighed Japan's decision to increase its monetary base and weaken the yen.SE) and Korea Exchange Bank (004940.23% 199. The Bank of New York index of ADRs closed up 0.5% to $34. 7267. Sanofi made its $18. [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] Related Topics Finance & Accounting Standards Financial Markets Page 46 . where Magyar Telekom Telecommunications PLC (MTA.9% to $16. South Korea's National Pension Service would consider investing in South Korean banks like Woori Finance Holdings Co. Japan turned to a $16 billion foreign-exchange intervention to curb the yen's strength. But for many. while Deutsche Telekom edged up 0. an executive board member said.61. The Bonn state prosecutor is investigating Obermann's role in alleged acts of bribery in Macedonia and Montenegro. Automotive companies Toyota Motor Corp.12.36% to 126. The decision sent the dollar higher against the yen.OneSource One-Stop Reports for Tata Motors Limited ADR REPORT: Shares Close Mixed As Japan Fights Strong Yen Nikkei English News 15 September 2010 [What follows is the full text of the news story.18% at 130. it won't be enough to impact their bottom line for the rest of the year.56.S-based biotech Genzyme Corp. 6758. 7201.5 billion bid public last month. Ltd. but has suggested that it could be open to selling the company at a higher price.TO) and Nissan Motor Co.6% to $16. (SNE. which reiterated that Sanofi-Aventis's initial takeover offer is too low. LOGN. Sanofi-Aventis climbed 1.VX) to sell from neutral. PCs and notebooks are slowing down.23% to 380. Goldman Sachs cut its rating on Logitech International SA (LOGI.02. (NSANY.BU) operates. while Honda Motor Co. Brazilian steelmaker Companhia Siderurgica Nacional ADS (SID. Deutsche Telekom AG's (DTEGY. respectively. which are the engine of the country's economic growth and had been complaining vociferously about the yen's strength for months. cautiously welcomed the currency intervention. Logitech stock lost 3. DTE.82. (WF. Shares of Magyar Telekom fell 1.XE) supervisory board can't understand allegations linked to suspected bribery against Chief Executive Rene Obermann. MTELEKOM. SAN. French drug giant Sanofi-Aventis (SNY. Shares lost 1. and marked the first time Japanese authorities publicly intervened in currency markets since 2004. The country's leading exporters. The strong yen has been a huge concern for the country's most powerful and recognizable brand names abroad because it makes their products more expensive overseas. The Asian index edged up 0.7% to $30. The Latin American index lost 0.TO) rose 2.

Woori Finance slid 2. You can use this link on the day this article is published and the following day.13. 212-416-3261.cancryn@dowjones.50. That highlights the potential role that the world's fifth-largest pension fund could play in domestic mergers and acquisitions. ANG.5% to $35.c.OneSource One-Stop Reports for Tata Motors Limited such a deal be favorable for the fund's investment objectives.com/access/al? rnd=cJdz2JxiZS7vFT9S8oSBMw%3D%3D.e.com Click here to go to Dow Jones NewsPlus. The emerging-markets index fell 0. 500570. Tata Motors Ltd. 6020 Commercial banks 6210 Security brokers and dealers 7370 Computer and data processing services 7812 Motion picture & video production 7900 Amusement & recreation services Audio & Video [profile] Equipment Auto & Truck [profile] Manufacturers Biotechnology & [profile] Drugs Chemical [profile] Manufacturing Commercial Banks [profile] Communications [profile] Services Investment [profile] Services Metal Mining [profile] Motion Pictures [profile] Office Equipment [profile] Personal & [profile] Household Prods.djnewsplus.11. adam. Dow Jones Newswires.07 after the auto maker's global sales performance came in below market expectations.3% to $23. AngloGold Ashanti Ltd. -By Adam Cancryn. 2940 Other Manufacturing 7120 Telecommunication Services 7320 Deposit Taking Financiers 7321 Banks 7511 Financial Asset Broking Services 7831 Data Processing Services 9111 Film and Video Production 9300 Sport and Recreation Page 47 .JO) said it plans to sell at least 15. analysis and commentary: http://www.8 million American depositary shares and notes that will convert into the same amount of ADS as the South African gold miner raises money to "effectively" eliminate its gold-hedging position.2% to 312.8% to $44. Shares lost 4.BY) fell 2. (TTM. a web front page of today's most important business and market news. Printing & [profile] Publishing Recreational [profile] Activities S&Ls/Savings [profile] Banks Semiconductors [profile] Software & [profile] Programming 1310 Metal Ore Mining 2410 Printing and Services to Printing 2530 Basic Chemical Manufacturing 2543 Medicinal and Pharmaceutical Product Manufacturing 2810 Motor Vehicle and Part Manufacturing 2841 Computer and Business Machine Manufacturing 2849 Electronic Equipment Manufacturing n. (AU.

] Research and Markets (http://www. 2810 Motor Vehicle and Part Manufacturing 2940 Other Manufacturing © 2010 Acquire Media Corporation.15 points or 0. presence across these markets has become a key component of strategic plans of almost all major global truck-makers as they vie for a share of the BRIC growth pie by either making a foray in or by consolidating existing presence across these markets. Tata Motors & Ashok Leyland.554.49 percent.78 percent and 0. Published by OneSource Information Services. 15 (Xinhua) -. automobile sector weakened 0. The index saw strong growth momentum during the session and ended at 19.24 percent with Tata Motors losing 2.3 percent.com/research/e2b05d/indian_commercial) has announced the addition of the "Indian Commercial Vehicles Market . Ab [profile] Related Geographies Asia India Related Industries 3710 Motor vehicles and equipment 3990 Miscellaneous manufacturing industries Auto & Truck [profile] Manufacturers Personal & [profile] Household Prods. this comprehensive force-field analysis of the Indian commercial vehicles market generates insights into the key driving & restraining forces that are active and shaping the future of it in addition to analyzing the emerging market landscape. Inc.. 2. Daimler & MAN are set to expand business presence as well as portfolio while several others are planning a foray. Published by OneSource Information Services. technological and metal sectors gained 2. namely. WIPRO and Tata Consultancy Services jacked up 2. IT. Indian top lender State Bank of India. The market for commercial vehicles in India has seen a rapid & consistent growth over the years reflecting India's robust economic growth coupled with a strong & well developed domestic commercial vehicles manufacturing industry spearheaded by industry veterans. Related Companies Commercial Vehicle [profile] Group.502. Software outsourcing player Infosys.researchandmarkets.16 percent. Still.8 percent Wednesday on flooded liquidity and growing optimistic in the market.Force Field Dynamics Analysis Research and Markets Journal of India 15 September 2010 [What follows is the full text of the news story. 1.86 percent. 1. September 2010 Indian Commercial Vehicles Market .OneSource One-Stop Reports for Tata Motors Limited © 2010 Acquire Media Corporation. respectively. Inc.85 percent. Amid this backdrop. With the resilience shown by BRIC markets during the recent global economic crisis.95 percent.] MUMBAI.50 points. cement maker ACC. With the rapidly evolving landscape.. Volvo. Inc. Reliance Industries. oil and gas.The Indian stock benchmark Sensex advanced 155.8 pct Xinhua News Agency 15 September 2010 [What follows is the full text of the news story. industrial firm Jaiprakash Related Companies Cipla Ltd Infosys Technologies Ltd Jaiprakash Associates Limited State Bank of India Tata Consultancy Tata Engineering & Locomotive Co Wipro Ltd [profile] [profile] [profile] [profile] [profile] [profile] [profile] Related Topics Finance & Accounting Standards Financial Markets Page 48 .Force Field Dynamics Analysis" report to their offering. Sept. September 2010 Indian stocks close up 0. 2. the competitive intensity as well as overall market dynamics are set to undergo major transformation.11 points with daily high of 19.25 percent and 2. Indian Commercial Vehicle market has been no exception to this shift in dynamics of the global commercial vehicles industry as key global players including Volvo.49 percent.

compared with 268. September 2010 Markets trim some of their early gains Page 49 . Published by OneSource Information Services.. 2940 Other Manufacturing 4600 Machinery and Motor Vehicle Wholesaling 4700 Personal and Household Good Wholesaling 7320 Deposit Taking Financiers 7321 Banks 7823 Consulting Engineering Services © 2010 Acquire Media Corporation. representative of various sectors. Sensex is the common name for the Bombay Stock Exchange Sensitive Index.7 percent.S.97 million U. on the Bombay Stock Exchange. Related Geographies Asia India Related Industries 2300 Apparel and other textile products 2800 Chemicals & allied products 3651 Household audio and video equipment 3674 Semiconductors and related devices 3710 Motor vehicles and equipment 3990 Miscellaneous manufacturing industries 5000 Wholesale trade -durable goods 5100 Wholesale trade -nondurable goods 6000 Depository institutions 6020 Commercial banks 8700 Engineering & management services Apparel/Accessories [profile] Audio & Video [profile] Equipment Auto & Truck [profile] Manufacturers Business Services [profile] Chemical [profile] Manufacturing Commercial Banks [profile] Misc. dollars in the previous session. dollars Wednesday.e.S.14 percent.OneSource One-Stop Reports for Tata Motors Limited Associates and drug maker CIPLA dipped 1. The turnover with Sensex stayed at high level of 240. Inc. Capital Goods [profile] Personal & [profile] Household Prods.93 percent.86 million U.c.03 percent and 0. 1. It consists of the 30 largest and most actively traded stocks. S&Ls/Savings [profile] Banks Semiconductors [profile] 2240 Clothing Manufacturing 2530 Basic Chemical Manufacturing 2810 Motor Vehicle and Part Manufacturing 2849 Electronic Equipment Manufacturing n. 1.

93% to 5. Investors were keeping a close watch on advance tax numbers from India Inc.50%.39%. DAX added 0. The BSE Sensex and the NSE Nifty were marginally below the crucial 19.97%. respectively.04 points or 0. in trade for further course of action. Jaiprakash Associates down 1.The main gainers in the BSE sectoral space were Oil & Gas up 2.91%.50 and 19. Tata Motors down 1. According to the FIMI. the broader indices were on the verge of slipping into the negative terrain.22%.48% and Taiwan Weighted gained 0.477.03% and FTSE 100 gained 0.63%.02%. The index touched a high and a low of 19. These operators face a three-year lock-in period that was put in place following sale of stake by some of the players at a high premium compared to what the government had got. said that going by the current trend. Information Technology (IT) up 1. Siddharth Rungta. Capital Goods [profile] Personal & [profile] Household Prods.04%. influential Chinese market (Shanghai Composite index) was witnessing intense selling pressure towards the end of the session and was down by about one and a half percent. the government may consider granting some exit route to new telecom players that got license in 2008 as most of them have been unable to compete with existing players and some have not been able to fulfil their rollout obligations.38% while Shanghai Composite slipped 1.850 levels. bailout provisions were highlighted. Meanwhile.37%.48%. Published by OneSource Information Services.82% and HUL down 0. SBI down 1. Communications Minister A Raja said in this regard on Tuesday that the Telecom Commission was considering providing an exit route to these players as they have been under enormous financial strain due to a tariff war in the sector. On the flip side.] India.5% to 175 million tonne from 226 million tonne last year. respectively. It will be discussed in the Telecom Commission.OneSource One-Stop Reports for Tata Motors Limited Accord Fintech (India) 15 September 2010 [What follows is the full text of the news story. Among regional counterparts. September 2010 Nifty continues to trade high.06%.20. ONGC up 2. Jakarta Composite zoomed 3. Hang Seng rose 0.13%.74%. BHEL down 0.80% and Jindal Steel down 0. Meanwhile.792.74%.03% and 0.849. India is the third largest exporter of iron ore in world. Oil & gas space continued to hog the limelight on the back of strong gains in ONGC and RIL.72% were the major gainers on the Sensex. The index touched a high and a low of 5.00 and 5. On the other hand. respectively at this point of time.34%. For any query with respect to this article or any other content requirement.12%.Other Asian indices were trading mostly in the positive terrain. SBI down 1.869. The Federation of Indian Mineral Industries (FIMI) said on Tuesday that the steep decline in iron ore output and exports in the current fiscal would have a huge negative impact on the investment in this sector.45%. RIL up 2. India's iron ore exports are likely to witness a steep decline in the current fiscal owing to slowdown in Chinese demand and high export duty imposed by the Indian government. The BSE Sensex was up by 130. ends above 5850 mark Accord Fintech (India) Page 50 . while there were no losers in the BSE sectoral space.02%. Jindal Steel down 0.The domestic equity markets trimmed some of their early gains in late afternoon trades tracking flat start for European markets and decline in Dow future.47%. The ban by Karnataka government to curb illegal mining will also contribute to decline in domestic production and export of the raw material. Nikkei 225 soared 2. 15 -.40%. Straits Times advanced 0.91% and Axis Bank up 2. Most of these face substantial penalties due to failing in meeting minimum rollout obligations.70% were the main losers on the index. respectively.The BSE Midcap and Small-cap indices gained 0." said the minister without giving any details of what kind of package could be worked out for them. The S&P CNX Nifty increased by 53.00. The top gainers on the Nifty were IDFC up 3. adding that the government should take steps to support the industry by bringing down the export levy.96% and Consumer Durables (CD) up 0.340. exc electrical 3710 Motor vehicles and equipment 3990 Miscellaneous manufacturing industries 6000 Depository institutions 6020 Commercial banks 8700 Engineering & management services Auto & Truck [profile] Manufacturers Business Services [profile] Commercial Banks [profile] Misc.99. Gains on the bourses remained broad based.500 and 5. The market breadth on the BSE has turned negative.554. Software. president of the FIMI. GAIL up 3. CAC-40 increased 0. Published by HT Syndication with permission from Accord Fintech.78% and Hindalco Industries up 1. iron ore production over the fiscal will decline by 22.53%.98%. Sept..67% at 19.66%. the losers outnumbered the gainers in a ratio of 1594:1316 while 93 shares were unchanged. "At the last operators' meeting. The top losers on the index were Jaiprakash Associates down 2. TECk up 0. Amidst a hyper competitive telecom space. please contact Editor at htsyndication@hindustantimes. ONGC up 2. the local benchmark indices remained in a rally mood prompted by sustained value picking in blue-chip stocks from investors. exports in the fiscal year 2010-11 will come down by 25-30%. Metal up 0. Siemens up 3. Tata Steel up 1. S&Ls/Savings [profile] Banks 2810 Motor Vehicle and Part Manufacturing 2841 Computer and Business Machine Manufacturing 2940 Other Manufacturing 7320 Deposit Taking Financiers 7321 Banks 7823 Consulting Engineering Services [profile] [profile] [profile] [profile] [profile] [profile] [profile] © 2010 Acquire Media Corporation.34% and KLSE Composite trimmed 0. Inc.50.26%. Tata Motors down 1. technology and metal stocks also remained in a good shape. European markets were flat in early trades. Seoul Composite increased 0.com Related Companies Hindalco Industries Ltd Jaiprakash Associates Limited Siemens AG Tata Engineering & Locomotive Co Tata Steel Limited UTI Bank Ltd Wipro Ltd Related Geographies Asia South America Australia Brazil India Related Industries 3500 Machinery. though its overall output is much lower compared to Australia and Brazil.95 points or 0. Wipro up 1.89%.51%.

5800 SP from the September month expiry was the most active put with an addition of 1. German investor confidence fell sharply in September and industrial production unexpectedly stagnated during July in the countries that use the euro. All indices in the sectoral space on the NSE.67% in the near-month futures. The maximum Call OI outstanding was at 5900 SP (4. But Nifty gained back its momentum in the second half to close above the psychological 5.51%.25.49% followed by the realty index which rose 0.46% and reached 19.95. 15 -. closing marginally in red. India VIX. after soaring 65.40 points or 1. HDFC Bank 1. The India VIX soared 4. The top five scrips with highest PCR on OI were Axis Bank 2.38% of OI in the near month contract.860. The markets got off to a flat start this morning but surged later on before paring some of its gains towards the end of the first half.46 for September-month contracts. Capital Goods [profile] Office Equipment [profile] Personal & [profile] Household Prods. Among most active underlyings Reliance witnessed a contraction of 0. S&Ls/Savings [profile] Banks 2810 Motor Vehicle and Part Manufacturing 2841 Computer and Business Machine Manufacturing 2940 Other Manufacturing 7320 Deposit Taking Financiers 7321 Banks [profile] [profile] [profile] [profile] [profile] © 2010 Acquire Media Corporation. but retreated in the final hours of trading as investors' enthusiasm waned and Dow and S&P lost their winning streak. the 50-share S&P CNX Nifty settled at 5.The rally mood of the US markets faltered a bit on Tuesday when concern about the European economy erupted once again.62 mn units. Published by OneSource Information Services. exc electrical 3570 Office. Nifty September futures saw an addition of 8. computing & accounting machinery 3710 Motor vehicles and equipment 3990 Miscellaneous manufacturing industries 6000 Depository institutions 6020 Commercial banks Auto & Truck [profile] Manufacturers Commercial Banks [profile] Misc. followed by Tata Motors which saw an addition of 2. For Nifty calls. Heavyweight stocks outperformed the broader markets for the second straight day today. a gauge for market's short term expectation of volatility. SBI saw an addition of 2. 5900 strike price (SP) from the September series was the most active call with an addition of 0. taking the total outstanding open interest (OI) to 40. please contact Editor at htsyndication@hindustantimes.60% in the current month futures contract. There was disappointing news from the European markets. Among Nifty puts.24 and ACC 1.38 mn). September 2010 US markets get a halt to their rally.24.24 mn) and that for Puts at 5800 SP (6. 15 -.13%..75 mn or 37. Inc. while S&P Nifty gained 65.17%. ICICI Bank 1.60 on Tuesday. For any query with respect to this article or any other content requirement. The market breadth remained in favour of declines which stood at 768 against advances of 517 on the NSE.94%.71 mn or 20.840. Tata Steel witnessed an addition of 1.The Nifty Put Call Ratio (PCR) OI wise stood at 2.56% or 3. The benchmarks gained on the back of stellar performance by heavyweights and strong domestic cues. The Commerce Department said Tuesday that retail sales rose in August at their fastest pace in five months and slightly beat Related Companies HDFC Bank Ltd Icici Bank Ltd Infosys Technologies Ltd Tata Engineering & Locomotive Co Wipro Ltd [profile] [profile] [profile] [profile] [profile] Page 51 . Dow and S&P close in red Accord Fintech (India) 15 September 2010 [What follows is the full text of the news story.43.860. gained with IT surging 2.40 points at 5.889. Polaris 1.95.] India.The local equity markets closed another day of trade with healthy gain as the investor sentiments remained optimistic throughout the session. The respective Support and Resistance levels are: Resistance 5.com Related Companies HDFC Bank Ltd Icici Bank Ltd Tata Engineering & Locomotive Co Tata Steel Limited UTI Bank Ltd Related Geographies Asia India Related Industries 3500 Machinery. The indices edged higher for much of the day following positive reports on US retail sales and business inventories.16% in the September month futures contract.53 Pivot Point 5. Finally.] India. The Asian markets on the other hand closed mostly in the green terrain while the European counterparts were trading well below their previous close.43 on Wednesday compared to its previous close of 18.OneSource One-Stop Reports for Tata Motors Limited 15 September 2010 [What follows is the full text of the news story.850 mark. Published by HT Syndication with permission from Accord Fintech.03.87 Support 5812.46% to 19.20 million (mn) units. Sept.84. advanced 4.28. Sept.

to end at 1. software and auto stocks were the star performers of the session while metal. failed to hold on to the higher levels as investors opted to take some profit off the table ahead of release of monthly inflation data and pared some of their early gains in late-morning trades Related Companies Enbridge Inc Hindalco Industries Ltd Jaiprakash Associates Limited Tata Engineering & Locomotive Co Wipro Ltd Related Geographies Asia Europe North America Canada India United States New York Related Industries 2300 Apparel and other textile products 3710 Motor vehicles and equipment 3990 Miscellaneous manufacturing industries 4900 Electric.On the other hand Nasdaq edged up by 4. The indices.77.The US markets lost their winning streak on Tuesday. and sanitary services [profile] [profile] [profile] [profile] [profile] Page 52 . This is sixth straight session of positive close for benchmark indices.16%. Infosys was up by 0. or 0. Satyam Computers was down by 1. Wipro was up by 2.07%. which led to an 81 percent jump in the benchmark index and their further move will be now closely watched for cues in the markets. realty and power shares saw some profit taking in trade today. foreign funds have pumped in $13.40%. though there was some volatility during the first part of the day but indices managed to recover soon to close with good gains for yet another day. or 0. HDFC Bank was up by 0.800mark. The Dow Jones Industrial Average lost 17. The global cues had put some pressure during the day otherwise the markets looked firm from the very beginning and both the benchmark indices surged to their high in the early part of the day. S&P 500 was tad lower by 0.5% from 9. to close at 10.88%. For any query with respect to this article or any other content requirement. The Asian markets too have made a mixed start but the Japanese markets bounced back into green after the country intervened to weaken its currency for the first time since 2004.8 point. Inc..62%. however.The Indian markets have continued their rally undeterred by the global jitters and now stand at their fresh highs.] India.17%. business inventories jumped in July by their largest amount in two years and business sales rebounded after two months of declines.19% and Tata Motors was up by 2.54%. Sept. though the domestic economic indicators were good but the concern from the Europe led the markets a bit cautious and the indices ended mixed. August month inflation (based on new WPI series) cooled off to 8.The Indian ADRs closed mixed on Tuesday. Published by OneSource Information Services. The mid-cap and small-cap space also took some beating from the bears on valuation concerns.5 billion last year.06 points. may take a pause afterwards Accord Fintech (India) 15 September 2010 [What follows is the full text of the news story. the benchmark indices rejoiced over betterthan-expected monthly inflation data. September 2010 Markets likely to make a positive start. The main bourses rallied to their new multi-month highs in early trades despite mixed cues from regional peers. Though cues from across the globe were not so encouraging today.289.49. following the record inflow of $17. Consumer durables. the domestic markets have finally continued their gaining streak for the sixth straight day on Tuesday.18%.10. gas.70% and MTNNL was down by 1.7 billion so far this year. Published by HT Syndication with permission from Accord Fintech. 15 -.com Related Geographies Asia India Related Industries 3710 Motor vehicles and equipment 6000 Depository institutions 6020 Commercial banks 8700 Engineering & management services Auto & Truck [profile] Manufacturers Business Services [profile] Commercial Banks [profile] S&Ls/Savings [profile] Banks 2810 Motor Vehicle and Part Manufacturing 7320 Deposit Taking Financiers 7321 Banks 7823 Consulting Engineering Services © 2010 Acquire Media Corporation. at 2.526.Back home. or 0.121.OneSource One-Stop Reports for Tata Motors Limited forecasts. The Sensex regained the psychological 19. please contact Editor at htsyndication@hindustantimes. The start of the markets today is likely to be flat-to-positive though the trade is likely to remain range bound.97% in the earlier month. In another encouraging sign on the economy.300-level while the Nifty settled a tad below the crucial 5. The new series of the wholesale price index showed a sharply lower inflation in August and the apex bank will tomorrow consider whether to raise interest rates for a fifth time this year.64 points. Finance Minister Pranab Mukherjee has said that the government is consulting the central bank to take "appropriate measures at the appropriate time" to control inflation.On the other hand ICICI Bank was down by 1. The robust fund flows in the markets have kept the spirit high. Auto and IT sector are likely to continue their momentum.

For the five months ended August 31.17%.432 units.06 points. It was further set to complete repairs on the pipeline.com Related Companies Tata Engineering & Locomotive Co Related Geographies Asia India Related Industries 3710 Motor vehicles and equipment Auto & Truck [profile] Manufacturers 2810 Motor Vehicle and Part Manufacturing [profile] © 2010 Acquire Media Corporation. the group's total sales have gone up by whopping 42% to 4. The company's commercial and passenger vehicles sales during the month under review increased by 25% and 33% on yearon-year basis to 40. at $76.96 and the S&P CNX Nifty rose 35. Published by OneSource Information Services.346. at 2. or 0.80 a barrel.55. The indices edged higher for much of the day following positive reports on US retail sales and business inventories. Wipro.882 units and 44. with a positive bias. 2010. In another encouraging sign on the economy.988. September 2010 Tata Motors' group global sales rise 29% in August Accord Fintech (India) 15 September 2010 [What follows is the full text of the news story. September 2010 Benchmarks continue to inch higher despite valuation concern Accord Fintech (India) 15 September 2010 Page 53 . please contact Editor at htsyndication@hindustantimes.com 4920 Gas production and distribution 8700 Engineering & management services Apparel/Accessories [profile] Auto & Truck [profile] Manufacturers Business Services [profile] Electric Utilities [profile] Natural Gas Utilities [profile] Personal & [profile] Household Prods. Reliance Industries (RIL). easing fears of a prolonged outage. or 0.938 vehicles. however..114 vehicles compared to the same month of last year.8 point. German investor confidence fell sharply in September and industrial production unexpectedly stagnated during July in the countries that use the euro.The rally mood of the US markets faltered a bit on Tuesday when concern about the European economy erupted once again.12 crore during the Q1FY11 from Rs 16.526. Tata Motors had reported a consolidated net profit of Rs 1. Flat-topositive start for European markets failed to provide any significant cues to local bourses.10. Published by HT Syndication with permission from Accord Fintech.16 a barrel on the ICE.31% to Rs 27.On the other hand Nasdaq edged up by 4.99 on the New York Mercantile Exchange. For any query with respect to this article or any other content requirement. Total income increased by 61..795. Published by OneSource Information Services.Crude rally too got a halt along with the equity markets on hopes of a quicker restart for a damaged Enbridge pipeline that sends oil from Canada to the US Midwest. or 0. to close at 10. but retreated in the final hours of trading as investors' enthusiasm waned and Dow and S&P lost their winning streak.090.] India.788 units and 12. The domestic markets spent the entire last session of trade within a very narrow range.55 points or 0.63 points or 0.62% to finish at 5.121.232 units.18%.794. In London October Brent crude rose 13 cents to settle at $79.21 to $77. respectively during the reporting month.51 percent. Finally. Inc.04 crore for the Q1FY10. Inc. Jaiprakash Associates and Tata Motors topped the gainers list while Hindalco Industries. India's largest private sector company. up 29% compared to the year ago period. S&P 500 was tad lower by 0. Jaguar sales soared 33% while Land Rover sales advanced 28% to 3. ACC and SBI languished at the bottom of the list.Auto major Tata Motors' group global sales grew by 29% in August 2010 to 85. Jaguar Land Rover global sales in the month of August 2010 stood at 16. Published by HT Syndication with permission from Accord Fintech. business inventories jumped in July by their largest amount in two years and business sales rebounded after two months of declines.Benchmark crude for October delivery settled down 39 cents.72% to close at 19. Enbridge resumed operations on a separate.24. For any query with respect to this article or any other content requirement.The Dow Jones Industrial Average lost 17. known as Line 6A and said it may not need to give regulators a formal plan before resuming operations. Among heavyweights.78 crore for the June 2009 quarter.289. uninterrupted buying in frontliners from investors helped the markets to regain strength in the noon session. to end at 1. smaller pipeline in New York that was shut down late on Monday on suspicions of a leak.The Commerce Department said Tuesday that retail sales rose in August at their fastest pace in five months and slightly beat forecasts.07%. 15 -.220 vehicles. 2240 Clothing Manufacturing 2810 Motor Vehicle and Part Manufacturing 2940 Other Manufacturing 3600 Electricity and Gas Supply 3620 Gas Supply 7823 Consulting Engineering Services © 2010 Acquire Media Corporation.49. Sept. respectively.OneSource One-Stop Reports for Tata Motors Limited following release of August month inflation figure. There was disappointing news from the European markets. or 0. Meanwhile. the BSE Sensex advanced 138. closing marginally in red.64 points. please contact Editor at htsyndication@hindustantimes. after trading in a range of $76. The key indices witnessed minor pullback in late-afternoon trades.73 crore for the June 2010 quarter against a net loss of Rs 328. shed close to half a percent in trade.77.

09%. The broader indices. Last month the growth had come down to 13% after remaining over 30% in previous two months. Meanwhile. respectively. The BSE Sensex touched a high and a low of 19. Sept. On the other hand.947 crore in August 2010 against Rs 19. oil & gas and technology stocks led the gainers list in trade. From frontliners.13% to settle at 5. Trade deficit for the month further widened to $13.30%. 2010 till date.500 and 5.76% were the major gainers on the index. the BSE Sensex soared 155. After getting off to a flat start influenced by global cues.95.Sensex -.Meanwhile. the local markets resumed their northward journey within few minutes of the opening bell. advance tax payment from India Inc showed mixed picture. Flat start for European markets and downtick on Dow future also caused some selling pressure back home in afternoon trades.' Khullar said adding that the government has been taking various measures including providing additional incentives to exporters to ensure a sustainable recovery in this sector.49%. said the Commerce Secretary Rahul Khullar in a media briefing on Wednesday.06 billion.850.85%.OneSource One-Stop Reports for Tata Motors Limited [What follows is the full text of the news story.80% to end at 19. HDFC Bank is believed to have paid Rs 600 crore worth of advance tax for the Q2FY11 against Rs 425 crore in Q2FY10.25%.832 crore. India's exports grew by 22% to $16. All sectoral indices of the BSE. On advance tax front. Cues from most of the regional peers were also good today.14%. SBI and ACC were the major laggards on the main index. ACC down 1. TCS up 2. RCF paid Rs 19 crore against Rs 43 crore and HUL paid Rs 140 crore as compared to Rs 170 crore. The early gains were aided by across the board buying from investors. Infosys up 2. Jaiprakash Associates down 1. the losers outpaced the gainers in a ratio of 1702:1253 while 136 shares were unchanged. after dipping in July.40 points or 1. Infosys Technologies.924 crore against Rs 1. experts are advising caution at these levels as the liquidity driven rally mainly on the back of inflows from Foreign Institutional Investors (FIIs) may fizzle out if global scenario turns worse. you should see growth at the level of 2008-2009.] India.50 and 19. the bulls looked in no mood to loosen their grip on the equities and they once again became dominant in late-afternoon trades.50% during the session. All eyes are now on the Reserve Bank of India's (RBI) mid-quarter review on Thursday (September 16). On the other hand. Meanwhile.78%.64 billion in the last month after registering just 13% increase in the month of July 2010. As the domestic economy recovers rapidly. The UN's annual report on Trade and Development said that rebalancing the world economy was necessary and should happen to ensure a Related Companies Cipla Ltd HCL Technologies Ltd HDFC Bank Ltd Hindalco Industries Ltd Icici Bank Ltd Infosys Technologies Ltd Jaiprakash Associates Limited Siemens AG State Bank of India Tata Engineering & Locomotive Co Wipro Ltd Related Geographies Asia Europe China France Germany India Japan United Kingdom [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] [profile] Related Industries 2300 Apparel and other textile products 3710 Motor vehicles and equipment 3990 Miscellaneous manufacturing industries 6000 Depository institutions 6020 Commercial banks 8700 Engineering & management services Apparel/Accessories [profile] Auto & Truck [profile] Manufacturers Business Services [profile] Commercial Banks [profile] Personal & [profile] Household Prods.49%.70%. In the previous month. however. Oil & Gas up 1.340. 'Export growth is relatively slow. Tata Motors down 2. SBI down 1.502.93 billion.86%.99. The NSE's 50-share Nifty has also zoomed around 7% during the same period. indirect tax collections in the country stood at Rs 27. However.7 billion in August 2010.15 points or 0. Reliance Industries (RIL) has paid Rs 1. The markets extended their gains in the mid-morning session as marketmen made a beeline for index heavyweights. Wipro up 2. saw some profit booking in late trades and finished around one and a half percent higher.95% and Fast Moving Consumer Goods (FMCG) up 0. Total exports in the month under review stood at $16. SAIL has paid Rs 725 crore against Rs 918 crore. said a report by the United Nations (UN). ONGC. Finally. The markets gyrated in a narrow band with a positive bias in late trades and finally settled the session with handsome gains.860. On the other hand. ahead of the full recovery in world economy. higher unemployment and hence lower growth in world economy.2% year-on-year to touch $29.93% were the major losers on the Sensex. S&Ls/Savings [profile] Banks 2240 Clothing Manufacturing 2810 Motor Vehicle and Part Manufacturing 2940 Other Manufacturing 7320 Deposit Taking Financiers 7321 Banks 7823 Consulting Engineering Services Page 54 . Software. RIL up 2. growth in India's exports again picked up in August and shipments from the country expanded by 22%. Hindalco Industries' advance tax for the JulySeptember 2010 quarter has surged to Rs 140 crore from Rs 70 crore in July-September 2009.554. ICICI Bank has also paid advance tax of Rs 600 crore for the current quarter as compared to Rs 500 crore for the year ago period. The market breadth on the BSE was in favour of declines. At the same time. Metal up 0. Too much focus on fiscal consolidation in the developed world including the US and Europe.has rallied close to 1300 points or 7% since September 3. The central bank of the country is likely to hike repo and reverse repo rates by 25 basis points each in its review.64 billion. respectively in trade today while scaling their fresh 32-month highs. was at $12.18% and HDFC Bank up 1. except Auto counter. Tata Motors. trade deficit.03% and Cipla down 0. TECk up 1. The key indices touched their fresh intraday peaks in late-morning trades but cooled off from those levels on profit booking in selective pockets. State Bank of India (SBI) has paid Rs 1.157 crore for the same quarter of the previous fiscal. Recovery in the country's exports and surge in indirect tax collections during the month of August boosted investor sentiment in trade. Tata Motors paid Rs 95 crore versus Rs 130 crore. Auto down 0. imports too have been rising fast and clocked a growth of 32. after topping the gainers list for most part of the session.The BSE Mid-cap index rose 0.295 crore in August 2009.24% was the sole loser in the BSE sectoral space. up by whopping 45%.48%. or the excess of imports over exports. The main gainers in the BSE sectoral space were Information Technology (IT) up 2. RIL and Wipro gained anywhere between 2% and 2.11 while the S&P CNX Nifty zoomed 65. can result in a deflationary spiral that will lead to reduced consumption. well below the level of 20082009. The BSE's 30-share sensitive index -. failed to gain momentum during the session. HDFC has paid Rs 400 crore versus Rs 320 crore. finished in the positive terrain.The benchmark indices extended their gains for the seventh successive session on Wednesday despite valuation concerns.08% while the Small-cap index shed 0. From next month onwards hopefully. The BSE Sensex and the NSE Nifty reclaimed the psychological levels of 19. 15 -. The local benchmark indices have been showing strong momentum since last week.308 crore for the second quarter of the current fiscal versus Rs 1.

ACC down 1.947 crore as against Rs 19. Though the stupendous gains have given a sense of caution among the investors but still they are opting to bet big keeping in mind the solid economic condition of the country. The relentless support of the FIIs is keeping the markets on high note. some profit booking was seen during the mid morning session but that too was unable to stop the bull run.The Indian markets are not looking in a mood to give up when other global markets have started showing fatigue. Nikkei 225 surged 217. The good showing in the screen trade of US and European futures gave the further boost.652.The top losers on the index were Tata Motors down 2.516.64.472. it was being speculated that the domestic markets too will consolidate today after their continuous rally. Central government's indirect tax collections have registered a growth of whopping 45% in the month of August 2010 to touch Rs 27. "A continuation of the expansionary fiscal stance is necessary to prevent a deflationary spiral and a further worsening of the employment situation.64% and HCL Technologies up 3. Service tax collections in August 2010 has also increased buoyantly to touch Rs 6.792. However. GAIL up 3.38 points or 0. 15 -. please contact Editor at htsyndication@hindustantimes." read the report. Jaiprakash Associates down 2.33%.87 yen.OneSource One-Stop Reports for Tata Motors Limited sustainable recovery and start of the next phase of growth in global economy. Straits Times jumped 22. at the moment.357. While customs duty collections have increased by 51% in the month under review to Rs 10.64%.In yet another signal of robust recovery in the Indian economy.03.02 points or 1.PSU Banking major SBI paid Rs 1924 crore against Rs 1834 crore. This will also require China.49 points or 0. SBI down 1. Germany's DAX declined 0. Published by HT Syndication with permission from Accord Fintech.89%. For any query with respect to this article or any other content requirement. Jakarta Composite zoomed 126.On the other hand. rebounding from a fresh 15-year low of 82.63%.207 crore a year ago.24. Related Companies HCL Technologies Ltd HDFC Bank Ltd Infosys Technologies Ltd Jaiprakash Associates Limited Siemens AG Tata Engineering & Locomotive Co Wipro Ltd Related Geographies Asia Europe China Germany [profile] [profile] [profile] [profile] [profile] [profile] [profile] Page 55 . the day started on a flat note and as the regional peers were trading cautiously.5% over the last year while revenue from central excise increased to Rs 49. a growth rate of nearly 48%.03. Sun Pharma up 3..24%.48% to 1.43% and BHEL down 1. Sept.412 crore against Rs 8.18 yen by mid-afternoon.163. The S&P CNX Nifty touched a high and a low of 5.071. excise collections have jumped 38% to reach at Rs 11.22 points or 0. that surged more than two percent as yen declined from a 15-year high against the dollar after government intervened in foreign exchange markets for the first time since 2004 to curb gains that threatened an export-led economy.20. but that too was unable to impact the roaring indian bulls. The dollar rose more than two percent to 85. European markets were trading in the red.45 and 5. September 2010 Post session .725.14% to 21.82.10% to 1.25 points or 2. Earlier.88 and Taiwan Weighted added 31.321 crore against Rs 6.com © 2010 Acquire Media Corporation.45% and Britain'sFTSE 100 trimmed 0. on sectoral front IT lead the pack followed by TECk and oil & gas while Auto was the lone losing index. showing an increase of 41. Shanghai Composite declined 36. respectively.25%.866 crore through customs collection. France's CAC 40 slipped 0.50 and KLSE Composite slipped 1.34% to 2.097 crore in the corresponding period of previous fiscal.08%.49%. Total service tax collections in April.07%.95. thus clocking growth of about 46%. Meanwhile. the market heavyweights have been continuously making fresh highs. Most of the Asian equity indices finished in the positive terrain on Wednesday led by gains in Japanese markets. overall indirect tax collections in the April-August 2010 period stood at Rs 1. cement companies were slightly on the negative side. it was necessary to continue providing the fiscal stimulus to major economies for global recovery to proceed undisrupted.38% to 8.90% to 3. the government has mopped up Rs 51.827 crore a year ago. though the European markets after a flat start slipped into red.] India. It was again the surge in the market heavy weights that helped the markets move higher otherwise the broader indices lost their momentum mid way taking the market breadth into red.56.869.Looking at the cumulative figures.672 crore.823.14 points or 3. Germany and Japan to enhance domestic consumption while the US will have to cut domestic consumption in long run.60 points or 0.73% to 3.632 crore. the Advance tax numbers started trickling out and give a mixed picture while the banking sector once again emerged as the higher advance taxpaying lot.55%.170 crore compared with Rs 85. The recovery in the Asian markets gave a sense of confidance to the markets. Siemens up 4. up by 5%.7% on annual basis.August 2010 also grown by nearly 20% to Rs 22.Quick review Accord Fintech (India) 15 September 2010 [What follows is the full text of the news story.295 crore of indirect taxes collected in the same month a year ago.63 points or 0. Seoul Composite gained 8.214 crore against Rs 4. an increase of 66.34% to 9. Inc.The top gainers on the Nifty were IDFC up 4. But the initial jitters faded within moments and the markets started moving higher that continued till last. Published by OneSource Information Services.261 crore last year.Hang Seng was up by 29. Disaggregating figures shows that over the first five month period of the fiscal.

that surged more than two percent as yen declined from a 15-year high against the dollar after government intervened in foreign exchange markets for the first time since 2004 to curb gains that threatened an export-led economy.On the other hand. However. Nikkei 225 surged 217.22% was the lone losers in the BSE sectoral space.652.554. ACC down 1.84% and Fast Moving Consumer Goods (FMCG) up 0. while Auto down by 0.472. Infosys up 2.14% to 21. Siemens up 4.53%. while Small-cap indices slipped 0.75%.792.10%.22 points or 0. DAX shed 0. This will also require China. a gauge for market's short term expectation of volatility.071.48% to 1.24%.82.13% to end at 5. At present.89%.64% were the top gainers on the Nifty.50 and KLSE Composite slipped 1.24%.63%.07% were the top losers on the index.OneSource One-Stop Reports for Tata Motors Limited RIL paid Rs 1300 crore against Rs 1157 crore up by 12%. Shanghai Composite declined 36.Most of the Asian equity indices finished in the positive terrain on Wednesday led by gains in Japanese markets.503.81% to settle at 19.On the other hand. while on the same time fertilizers major RCF reported a decline of 56% in its advance tax payment to Rs 19 crore from Rs 43 crore paid in same quarter last year.74% were the major gainers on the Sensex. (provisional). Jakarta Composite zoomed 126.46% and reached 19. The BSE Sensex touched a high and a low of 19.06%. Inc.60. (provisional).87%. Major European markets were trading in the negative terrain.55%.On the other hand.60%. to achieve such a potential.516.357.60 points or 0.23% and BHEL down 0.03. However. September 2010 Page 56 . Wipro up 2.02 points or 1.IDFC up by 4.05 (provisionally).861.869. "A continuation of the expansionary fiscal stance is necessary to prevent a deflationary spiral and a further worsening of the employment situation.38% to 8.10% to 1.03. ACC down 1. Jaiprakash Associates down 2. RIL up 2.63 points or 0.88 and Taiwan Weighted added 31.50 and 19.95.18 yen by mid-afternoon.99. HDFC Bank up 2% and TCS up 1.38 points or 0. India will have to continue emphasising domestic consumption led growth as export led growth model cannot succeed for all the developing economies together. Straits Times jumped 22.The S&P CNX Nifty touched a high and a low of 5. the UN's annual report on Trade and Development said that rebalancing the world economy was necessary and should happen to ensure a sustainable recovery and start of the next phase of growth in global economy.56.45 and 5..24% and FTSE 100 slipped 0. Germany and Japan to enhance domestic consumption while the US will have to cut domestic consumption in long run." it said.43. Sun Pharma up 3.823. please contact Editor at htsyndication@hindustantimes.14%. surged by 4.50 points or 1.49 points or 0. GAIL up 3. Tata Motors down 2. "India may play an equally (if not more) important role as China as a future engine of growth and employment creation in other countries. India VIX.34 (provisional) while the S&P CNX Nifty rose 65. It also urges for greater reforms in economic and financial spheres in India to ensure the country is able to fully exploit its growth potential and match China in long term. The BSE Mid-cap indices advanced 0.14 points or 3. Seoul Composite gained 8.64% and HCL Technologies up 3.62%. CAC-40 dropped 0. Oil and Gas up 1. For any query with respect to this article or any other content requirement.340.38 points or 0. it was necessary to continue providing the fiscal stimulus to major economies for global recovery to proceed undisrupted. respectively.90% to 3. compared to its previous day closing of 18.725.43% and BHEL down 1. Published by OneSource Information Services.25%. TECk up 1. though. The report however sees a lot of potential in the Indian economy in terms of providing a parallel engine to global growth along with the US and China.34% to 2. The dollar rose more than two percent to 85. SBI down by 1." read the report.48%.Hang Seng was up by 29. From the banking pack Central Bank showed a huge surge of 161% in its advance tax payments to Rs 206 crore from Rs 79 crore in corresponding quarter last year.48%. Jaiprakash Associates down 1.com India Japan Related Industries 3710 Motor vehicles and equipment 6000 Depository institutions 6020 Commercial banks 8700 Engineering & management services Auto & Truck [profile] Manufacturers Business Services [profile] Commercial Banks [profile] S&Ls/Savings [profile] Banks 2810 Motor Vehicle and Part Manufacturing 7320 Deposit Taking Financiers 7321 Banks 7823 Consulting Engineering Services © 2010 Acquire Media Corporation.08%.The BSE Sensex surged 156. respectively. the country is nowhere near reaching that kind of potential. Tata Motors down 2. Published by HT Syndication with permission from Accord Fintech. Metal up 0.50%. SBI down 1.Meanwhile.The main gainers in the BSE sectoral space were Information Technology (IT) up 2.163.34% to 9.70%. at the moment.73% to 3.20.87 yen.25 points or 2.29%.64.93% were the losers on the index. rebounding from a fresh 15-year low of 82.

OneSource One-Stop Reports for Tata Motors Limited Page 57 .

The disc is held in position by clamping it in between two bypass tubes. Cengage Learning. ranging from sub-1 ton to 49 ton gross vehicle weight. as well as sale of related parts and accessories. Inc. and others.] New Delhi. construction equipment manufacturing. plurality of cylindrical surfaces. The Company is engaged in the development. manufacturing. The composition of the tube is decided by the temperature at which the disc is expected to fuse. The patent application number is 1484/MUM/2008 A. truck and bus. and inside periphery of said fly wheel is provided Related Topics Legal Related Geographies Asia India Page 58 .com Related Topics Legal Related Geographies Asia India COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale. All rights reserved. "The fusible disc type thermostat bypass device comprises of a bypass tube wherein the fusible disc fitted. "This invention relates to an integrated flywheel assembly for twin cylinder internal combustion inline common rail diesel engine comprising. and large buses and coaches to passenger cars. Its segments include automotive. three passenger vehicle. According to the Controller General of Patents. said surfaces being integrally provided as a single structure mounted rigidly on a plurality of bolts onto a crankshaft. The international classification number is F02M25/07. said ring gear comprising plurality of teeth sufficient to ensure required engine rpm during starting. designing. including financing thereof. Published by OneSource Information Services. including the car. assembling and sale of vehicles. The assembly bypass tube is fitted in parallel to the conventional thermostat. Designs & Trade Marks. the Tata Nano. 2008.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Files Patent Application for Improved Cooling System for IC Engines Indian Patent News 14 September 2010 [What follows is the full text of the article.] New Delhi. The inventors are Milind D Peshave and Niraj R Dharkar. 2009 (fiscal 2009). a ring gear fitted at the periphery of the flywheel. which was introduced during the fiscal year ended March 31. It has a portfolio of automotive products. Rubber gaskets are provided on both sides of the disc to give a leak proof joint." Tata Motors Limited is engaged in manufacturing automotive vehicles. which include information technology services. Tata Motors Limited filed the patent application on July 15. The inventors are Deepak S Kulkarni and Vivek R Jalgaonkar. Sept. medium. It provides a positive bypass in case of engine overheating on account of thermostat malfunction. 14 -. Tata Motors Limited filed the patent application on Jan. According to the Controller General of Patents. The patent application number is 6/MUM/2008 A. trucks and from small. machine tools and factory automation solutions. Copyright Contify. 2008. 14 -. said teeths being in association with the teeths on a pinion of a starter motor. Designs & Trade Marks. Sept. and investment business. 1.India based Tata Motors Limited filed patent application for a novel integrated flywheel assembly for two cylinder direct injection high pressure common rail four stroke reciprocating piston internal combustion diesel engine. high-precision tooling and plastic and electronic components for certain applications. Tata Motors Limited Files Patent Application for a Novel Integrated Flywheel Assembly for Two Cylinder Direct Injection High Pressure Common Rail Four Stroke Reciprocating Piston Internal Combustion Diesel Engine Indian Patent News 14 September 2010 [What follows is the full text of the article. The international classification number is F16C15/00.India based Tata Motors Limited filed patent application for improved cooling system for IC engines. It manufactures commercial vehicle.

floor long members. 2009 (fiscal 2009). Sept. and large buses and coaches to passenger cars. trucks and from small. and investment business. All rights reserved. designing. The patent application number is 590/MUM/2007 A. and others. assembling and sale of vehicles. the Tata Nano. The international classification number is B62D25/20. Cengage Learning. machine tools and factory automation solutions. Tata Motors Limited filed the patent application on March 29. Its segments include automotive. The Company is engaged in the development. trucks and from small. "This invention relates to a lower body structure for a vehicle comprising of sill long members. Published by OneSource Information Services. including the car." Tata Motors Limited is engaged in manufacturing automotive vehicles. According to the Controller General of Patents. construction equipment manufacturing. 2007. medium. high-precision tooling and plastic and electronic components for certain applications. Its segments include automotive. Ajendra G Patil and Ravindra G Rajhans. Inc. as well as sale of related parts and accessories. construction equipment manufacturing. Cengage Learning. Anilkumar C. Copyright Contify. at least one central long member and plurality of cross members. and large buses and coaches to passenger cars." Tata Motors Limited is engaged in manufacturing automotive vehicles. including the car. 14 -. designing.] New Delhi. which include information technology services. three passenger vehicle. It has a portfolio of automotive products. manufacturing. truck and bus. as well as sale of related parts and accessories.com Related Topics Legal Related Geographies Asia India COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale.OneSource One-Stop Reports for Tata Motors Limited with plurality of teeths to accurately detect the engine speed of the common rail diesel engine with the help of a engine speed sensor. All rights reserved. Designs & Trade Marks. the Tata Nano. ranging from sub-1 ton to 49 ton gross vehicle weight. 2009 (fiscal 2009). machine tools and factory automation solutions. manufacturing.com COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale. It manufactures commercial vehicle. which was introduced during the fiscal year ended March 31. Inc. and others. medium. and investment business. said central long member is provided in between said floor long members. It has a portfolio of automotive products. including financing thereof. ranging from sub-1 ton to 49 ton gross vehicle weight. Copyright Contify. Published by OneSource Information Services. including financing thereof. Tata Motors Limited Files Patent Application for Improved Lower Body Structure for a Vehicle Indian Patent News 14 September 2010 [What follows is the full text of the article. which include information technology services. Tata Motors Limited Files Patent Application for Engine Cradle for a Vehicle Indian Patent News 14 September 2010 Page 59 . truck and bus.India based Tata Motors Limited filed patent application for improved lower body structure for a vehicle. which was introduced during the fiscal year ended March 31. The Company is engaged in the development. It manufactures commercial vehicle. The inventors are Mahendrakumar M S. assembling and sale of vehicles. three passenger vehicle. wherein said members are connected to each other to provide rigidity to the lower body structure. high-precision tooling and plastic and electronic components for certain applications.

"This invention relates to An engine cradle assembly for a vehicle comprising a front cross member and a rear cross member. trucks and from small.] Tata Motors' commercial vehicles business unit (CVBU) in Pune has received the excellent energy efficient unit award instituted by the Confederation of Indian Industry's (CII) at its 11th national awards for excellence in energy management for 2010. 2009 (fiscal 2009). Its Pune commercial vehicles business unit bags excellent energy efficient unit prize DNA (Daily News & Analysis) 10 September 2010 By DNA Correspondent [What follows is the full text of the article.com Related Topics Legal Related Geographies Asia India COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale. projects for carbon emission reduction. construction equipment manufacturing. said front cross member being provided with end mounting locations and a center mounting location. designing. and by fastening top end surfaces of said rear cross member to bottom surfaces of the vehicle body mounting means. manufacturing. assembling and sale of vehicles. Its segments include automotive. The Company is engaged in the development. and others. the Tata Nano. Copyright Contify. truck and bus. Thirty-eight out of 106 companies from various sectors were shortlisted for the competition and 19 were declared excellent energy efficient units. and large buses and coaches to passenger cars. and investment business. which include information technology services. Tata Motors' CVBU in Pune has won this award in 2004. All rights reserved. According to the Controller General of Patents. including the car. Designs & Trade Marks. said front cross member further comprises of elliptical sections at intermediate portions between the end mounting locations and the center mounting locations and the center mounting location which is oriented to have maximum stiffness for engine and suspension mounting. Abhay Deshpande and Umesh Abhyankar. medium. said engine cradle assembly is adapted to be attached to a vehicle body by fastening top surface of said end mountings of said front cross member with bottom surface of an reinforcement assembly of the vehicle body. Published by OneSource Information Services. 2005. three passenger vehicle.India based Tata Motors Limited filed patent application for engine cradle for a vehicle. Tata Motors wins CII energy efficiency award. and dissemination of best practices through associates. It has a portfolio of automotive products. Inc. 1. said front and rear cross members being interconnected by a left side member and a right side member. It manufactures commercial vehicle. The awards include a trophy and a citation. said front cross member is having provisions for mounting suspension and engine units. Tata Motors Limited filed the patent application on Jan. 2006 and 2008. high-precision tooling and plastic and electronic components for certain applications. utilisation of renewable energy sources and waste material.OneSource One-Stop Reports for Tata Motors Limited [What follows is the full text of the article. Cengage Learning. 2008. Some of the criteria for the award include best specific energy consumption performance compared with global benchmarks. The international classification number is B60K5/00. which was introduced during the fiscal year ended March 31.] New Delhi. The inventors are Soheb Ahmed. including financing thereof. The patent application number is 5/MUM/2008 A. 14 -. ranging from sub-1 ton to 49 ton gross vehicle weight. innovation and team work in energy conservation projects implemented in the past three years." Tata Motors Limited is engaged in manufacturing automotive vehicles. Sept. Related Topics Energy Conservation Global Business Related Geographies Asia India Page 60 . as well as sale of related parts and accessories. machine tools and factory automation solutions.

It manufactures commercial vehicle. Copyright Contify. Its segments include automotive. trucks and from small. and through apertures are provided on support plate to fasten said reinforced canopy edge into the support plate and to the vehicle body. The Company is engaged in the development. truck and bus. Agarwal and Pramod Mhaske. Tata Motors Limited Files Patent Application for Vehicle Roof Structure and Method of Assembling Thereof Indian Patent News 08 September 2010 [What follows is the full text of the article. The international classification number is B60R9/00. ranging from sub-1 ton to 49 ton gross vehicle weight. the Tata Nano. received the award on behalf of the company from the Bureau of Energy Efficiency (BEE) director general. DNA (Daily News & Analysis) All Rights Reserved COPYRIGHT 2010 DNA (Daily News & Analysis) Copyright 2010 Gale. construction equipment manufacturing. as well as sale of related parts and accessories. 8 -.] New Delhi. high-precision tooling and plastic and electronic components for certain applications. in Chennai on September 2. All rights reserved. Designs & Trade Marks. Copyright 2010 Diligent Media Corporation Ltd. KG Ghude. Cengage Learning. said reinforcing strip being provided with apertures for inserting fasteners.] New Delhi. 2007. All rights reserved. which include information technology services. and large buses and coaches to passenger cars. Tata Motors Limited Files Patent Application for Automobile Air Conditioning System Indian Patent News 08 September 2010 [What follows is the full text of the article. Related Topics Legal Related Geographies Page 61 . senior officer Anand Kale. "This invention relates to a vehicle roof structure comprising of a canopy. at least one reinforcing strip affixed with said canopy to reinforce the edge of said canopy. Published by OneSource Information Services. 8 -. Sept.. K. P Kaulgud. Published by OneSource Information Services. It has a portfolio of automotive products. According to the Controller General of Patents." Tata Motors Limited is engaged in manufacturing automotive vehicles. Inc. Inc. manufacturing.India based Tata Motors Limited filed patent application for vehicle roof structure and method of assembling thereof. assembling and sale of vehicles. The inventors are A. three passenger vehicle. and a support plate fixed with the vehicle body for holding the canopy having reinforced edge. including the car. Tata Motors Limited filed the patent application on June 18.OneSource One-Stop Reports for Tata Motors Limited Central plant engineering department's assistant general manager. medium. including financing thereof. and investment business. 2009 (fiscal 2009). which was introduced during the fiscal year ended March 31. Ajay Mathur. and others. Sept. machine tools and factory automation solutions.com Related Topics Legal Related Geographies Asia India COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale.India based Tata Motors Limited filed patent application for automobile air conditioning system. The inventors are Abhishek Gupta and Ram Mohan Bothuca. designing. The patent application number is 1188/MUM/2007 A. and maintenance manager. Cengage Learning.

30. Tata Motors Limited filed the patent application on Jan. According to the Controller General of Patents. Cengage Learning. It manufactures commercial vehicle. said power train system comprises." Tata Motors Limited is engaged in manufacturing automotive vehicles. except electronic Electronic Instr. While shifting. No separate starting device is required for cranking engine since the said power train system is capable of providing multiple gear ratio options for cranking the engine even at low state of charge of battery. The patent application number is 183/MUM/2009 A. For regeneration. Ilango Panneerselvan and S Govindarajan. assembling and sale of vehicles. 8 -.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited filed the patent application on Jan. said motor can be coupled to wheels through multiple gear ratios to capture maximum possible energy even at very low shaft speeds. According to the Controller General of Patents. which include information technology services. Said transmission constitutes input shaft. trucks and from small. The patent application number is 141/MUM/2009 A." Related Topics Legal Related Industries 3612 Transformers. and large buses and coaches to passenger cars. as well as sale of related parts and accessories. Designs & Trade Marks. at least three secondary shafts and chain or gear train to couple said secondary shaft to motor. manufacturing. 22. Plurality of brackets is mounted on the auxiliary condenser below the vehicle floor and one auxiliary condenser guard. truck and bus.India based Tata Motors Limited filed patent application for automated power train system. . It has a portfolio of automotive products. 2009. and investment business. three passenger vehicle. The said power train system uses single motor for both traction and starting engine. out put shaft. lay shaft and output shaft gives flexibility for power train to have only motor drive during the gear shift. ranging from sub-1 ton to 49 ton gross vehicle weight. The international classification numbers are B60H1/00 and B60H1/32. Layout of input shaft. and others. transmission and electric motor / generator. All rights reserved. speed synchronization is performed with engine and at the same time said motor can drive vehicle through existing engaged gear ratio or any one of the possible motor coupling ratio. the Tata Nano. heat engine.c. including financing thereof. The Company is engaged in the development. designing.com Asia India Related Industries 3711 Motor vehicles and car bodies Auto & Truck [profile] Manufacturers 2812 Motor Vehicle Body Manufacturing COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale. including the car. Layout of the shafts is compact for transverse arrangement and the said system provides minimum seven speed ratios. Manual transmission can be operated through electronic actuators to enact as automated transmission. Sept. Said power train system can be operated only with engine or motor or combination of both.e.Also the front air conditioning unit is provided with flexible hoses for the plumbing of condenser and compressor to the front air-conditioning unit adapted for removing said front air conditioning unit along with engine hood without dismantling any parts of air conditioning circuit to facilitate access to the engine parts for servicing. At least one fan is mounted on said auxiliary condenser unit mounted below the vehicle floor. construction equipment manufacturing. automated clutch. Inc. which was introduced during the fiscal year ended March 31. 2009 (fiscal 2009). It also gives freedom for the engine to do speed synchronization between lay shafts and output shafts with out losing traction during gear change. The inventors are Suresh Arikapudi. Copyright Contify.] New Delhi. "An automobile air conditioning system comprising of multiple condenser system for an air conditioning adapted for mounting at least one main condenser unit in front of the radiator and at least one auxiliary condenser unit below the vehicle floor. & [profile] Controls 2859 Electrical and Equipment Manufacturing n. Page 62 . Published by OneSource Information Services. Tata Motors Limited Files Patent Application for Automated Power Train System Indian Patent News 08 September 2010 [What follows is the full text of the article. "The present invention relates to power train system for hybrid vehicle propulsion system. medium. The international classification number is B60L. Its segments include automotive. said motor is used as secondary source during gear shifting. 2009. Designs & Trade Marks. high-precision tooling and plastic and electronic components for certain applications. machine tools and factory automation solutions.

and investment business. high-precision tooling and plastic and electronic components for certain applications. manufacturing. medium. a device for wheel chock mounting comprises a clamp plate which is connected to long member or frame with the help of fasteners. 27.com COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale. & pins Apparel/Accessories [profile] 2769 Fabricated Metal Product Manufacturing n. It has a portfolio of automotive products. medium. ranging from sub-1 ton to 49 ton gross vehicle weight. "In accordance with the present invention. It manufactures commercial vehicle. including the car.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited is engaged in manufacturing automotive vehicles. Cengage Learning. Copyright Contify. truck and bus. COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale.c." Tata Motors Limited is engaged in manufacturing automotive vehicles. Published by OneSource Information Services. including the car. Its segments include automotive. a locking plate hinged by means of a split pin with said c type hinge plate. a c type hinge bracket welded on said clamp plate. According to the Controller General of Patents. Tata Motors Limited Files Patent Application for Device for Wheel Choke Mounting in a Vehicle Indian Patent News 08 September 2010 [What follows is the full text of the article. Inc. three passenger vehicle. as well as sale of related parts and accessories. 2009 (fiscal 2009). trucks and from small. machine tools and factory automation solutions. All rights reserved.] New Delhi. the Tata Nano. The patent application number is 163/MUM/2009 A. and others. manufacturing. The inventors are Chimad Mahavir and Kannan R. ranging from sub-1 ton to 49 ton gross vehicle weight. high-precision tooling and plastic and electronic components for certain applications. designing. Copyright Contify. The Company is engaged in the development. which include information technology services. which include information technology services. and others.India based Tata Motors Limited filed patent application for device for wheel choke mounting in a vehicle.e. The international classification number is B60K7/00. designing.com Related Topics Legal Related Geographies Asia India Related Industries 3965 Fasteners. a lock and rubber pads. buttons. and large buses and coaches to passenger cars. All rights reserved. which was introduced during the fiscal year ended March 31. as well as sale of related parts and accessories. three passenger vehicle. trucks and from small. machine tools and factory automation solutions. Its segments include automotive. 8 -. Cengage Learning. assembling and sale of vehicles. and investment business. Inc. needles. 2009. It manufactures commercial vehicle. the Tata Nano. truck and bus. and large buses and coaches to passenger cars. It has a portfolio of automotive products. which was introduced during the fiscal year ended March 31. assembling and sale of vehicles. Published by OneSource Information Services. Sept. 2009 (fiscal 2009). Designs & Trade Marks. Present device provides easy accessibility of wheel chocks of a vehicle while removing and fixing and it also provides locking arrangement to prevent the theft of wheel chocks of a vehicle. Tata Motors Limited filed the patent application on Jan. Tata Motors Limited Files Patent Application for Method and Apparatus for Testing Static Strength of Transmission Housing Indian Patent News 08 September 2010 Page 63 . The Company is engaged in the development. construction equipment manufacturing. including financing thereof. construction equipment manufacturing. including financing thereof.

The patent application number is 164/MUM/2009 A. and others. truck and bus. The method involves mounting a gear box on a mounting bracket. including financing thereof.] New Delhi.OneSource One-Stop Reports for Tata Motors Limited [What follows is the full text of the article. A wire rope can be wound on the loading wheel. Copyright Contify. trucks and from small. machine tools and factory automation solutions. designing. manufacturing. 8 -. 2009. as well as sale of related parts and accessories. The inventors are Bhaskar B God bole. The international classification numbers are G01M19/00 and G01N3/00. Inc. medium. and torque from a load obtained value can be calculated using a torque formula. construction equipment manufacturing.India based Tata Motors Limited filed patent application for method and apparatus for testing static strength of transmission housing. Sept. Its segments include automotive. Yuvaraj M Jadhav and Sudhir M Sutar Tata Motors Limited filed the patent application on Jan. All rights reserved.com Related Topics Legal Related Geographies Asia India COPYRIGHT 2010 Indian Patent News Copyright 2010 Gale. the Tata Nano. 2009 (fiscal 2009). assembling and sale of vehicles. 27. Then. three passenger vehicle. "A method and apparatus for testing static strength of transmission housing under various load conditions are disclosed. high-precision tooling and plastic and electronic components for certain applications. depending on a test mode until a desired torque. Cengage Learning. including the car. and large buses and coaches to passenger cars. Page 64 . and investment business. The Company is engaged in the development." Tata Motors Limited is engaged in manufacturing automotive vehicles. and fitting a loading wheel on an input shaft of the gear box. which achieves effective testing of the transmission housing at aggregate level and in a simple manner. the readings of the applied load are recorded through a load indicator. Designs & Trade Marks. which include information technology services. which was introduced during the fiscal year ended March 31. According to the Controller General of Patents. ranging from sub-1 ton to 49 ton gross vehicle weight. Load is gradually applied to an input side of said loading wheel through a crane hook. and an output shaft of the gear box can be locked by means of a locking lever supported on a locking bracket. It manufactures commercial vehicle. Published by OneSource Information Services. It has a portfolio of automotive products.

OneSource One-Stop Reports for Tata Motors Limited Page 65 .

9 681.0 0.3 33.7 70.748.2 -12.8 10.8 152.844.166.0 55.015.tatamotors.9 -82.6 - 18.2 141.4 -790.4 13.529.2 -63.5 3.8 1.5 8.5 -158.8 -13.2 18.1 403.4 313.853.156. Non-Bank Other Revenue Other Revenue.6 141.6 0.7 6.1 -39.4 1.0 819.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.1 -205.979.0 67.4 -698. India.3 6.661.1 3.0 654.1 545.1 55.7 3.1 89.6 10.919.459072 Deloitte Haskins & Sells Unqualified with Explanation 19. Total Gross Profit Selling/General/Administrative Expense Labor & Related Expense Advertising Expense Total Selling/General/Administrative Expenses Research & Development Depreciation Depreciation/Amortization Interest Expense .278756 Deloitte Haskins & Sells Unqualified 31-Mar-2007 12 Months Reclassified Normal 31-Mar-2008 INR 45.6 367.8 233.6 3.7 72.962.Operating Interest/Investment Income Operating Interest Expense (Income) .9 7.7 1.586.22085 Deloitte Haskins & Sells Unqualified 31-Mar-2006 12 Months Reclassified Normal 31-Mar-2007 INR 44.176.3 1.6 -4.0 Page 66 .5 -30.6 7.1 431.872.0 159.3 66.1 8.552.948.6 -642.0 -1.0 16. Total Total Revenue Cost of Revenue Excise Taxes Payments Cost of Revenue.2 189.765.1 -13.199. Tel: 91-22-66658282.8 15.376.9 381.707.880.2 152.0 19.7 -0.0 819.2 107.4 55.5 4.189.082.0 -70.Net Operating Total Loss (Gain) on Sale of Assets Operating Other Unusual Expense (Income) 10.4 896.2 519.0 448.4 66.com/ Annual Income Statement Financials in: USD (mil) Except for share items (millions) and per share items (actual units) Financial Glossary 31-Mar-2010 Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.2 1.057.3 609.9 33.3 5.8 572.4 194.7 7.171.586.0 31-Mar-2008 12 Months Reclassified Normal 31-Mar-2009 INR 40.8 790. URL: http://www.1 4.7 17.Net Operating Interest Expense (Income) .066.684.1 144.867.0 70.511.98813 Deloitte Haskins & Sells Unqualified with Explanation 15.6 2.0 -14.3 6.0 -47.724.1 4.7 3.5 -42.6 104.Net Operating Interest Income .6 545.9 -3.430.478.871.6 -52.7 102.5 15.2 1.0 141.5 138.6 1.Operating Interest Capitalized .9 31-Mar-2009 12 Months Reclassified Normal 31-Mar-2010 INR 45.3 13.Operating Interest Expense .4 705.4 -14.5 5.1 1.0 378.1 5.1 626.1 285.7 15.213701 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion Gross Revenue Excise Tax Receipts Revenue Interest Income.7 - 16.8 2.715.3 19.2 194.588.2 180.431.1 534.4 105.5 75.168.190.Operating Investment Income .165.4 -1.008.5 1.4 8.162.

3 487.5 -5.7 3. Supplemental Interest Capitalized.24 1.OneSource One-Stop Reports for Tata Motors Limited Unusual Expense (Income) Other Operating Expense Other.15 1.6 70.2 830.00 1.25 -1.6 -63.9 479.5 4.94 0.2 1.0 397.8 -8.9 195.8 527.Common Stock Interest Expense.7 152.2 211.2 766.0 1.049.21 1.7 325.6 6.14 67.8 -544.2 -550.7 541.6 159.13 0.15 0.9 195.7 -544.2 538.8 -32.0 0. Supplemental Total Special Items Normalized Income Before Tax Effect of Special Items on Income Taxes Inc Tax Ex Impact of Sp Items Normalized Income After Tax Normalized Inc.4 8.0 -85.24 0.5 -85.8 538.35 1.24 0.00 143.0 -2.2 538.2 416.153.7 -241.0 1.3 604.8 541.4 0.8 1.0 -463.9 682.9 1.0 9.95 - Page 67 .32 127.0 -241.2 237.00 0.7 141. Net Other Operating Expenses.0 -70.9 390.1 420.5 766.24 -1.3 682.95 0.8 538.9 530.8 390. Supplemental Depreciation.9 0.35 1.2 211.2 1.5 -30.1 742.2 -541.3 -967.36 0.03 1.8 367.21 1.05 165.8 390.2 88.2 766.8 440.5 -1.0 2.0 653.6 -463.6 19.2 538.8 386.94 0.7 479.5 390. Total Total Operating Expense Operating Income Income Before Tax Total Income Tax Income After Tax Minority Interest Equity In Affiliates Net Income Before Extraord Items Net Income Income Available to Common Excl Extraord Items Income Available to Common Incl Extraord Items Basic/Primary Weighted Average Shares Basic EPS Excl Extraord Items Basic/Primary EPS Incl Extraord Items Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excl Extraord Items Diluted EPS Incl Extraord Items Dividends per Share .8 541.6 479.0 378.2 482.4 435.0 -471.7 8.3 398.1 1.0 -536.6 -163.3 540.8 386.4 25.1 1.2 479.6 584.0 -1.24 -1.9 479.5 -1.0 -0.8 70.21 2.4 -1.7 104.4 554.0 -163.8 -544.9 1.7 541.0 73.15 - 389.6 -16.9 1.4 17.8 531.2 742.5 -11. Avail to Com.3 0.9 440.Common Stock Issue 2 Gross Dividends . Supplemental 88.Common Stock Primary Issue Dividends per Share .00 2.4 1.113.899. Basic Normalized EPS Diluted Normalized EPS Amort of Intangibles.28 112.3 531.3 393.2 211.8 102.0 144.2 682.3 144.4 554.293.0 0.3 -6.0 194.6 481.507.8 -4.0 531.0 -544.25 63.8 550.33 181.7 16.8 16.15 1.1 593.8 0.32 0.4 390.24 0.8 1.35 2.3 487.24 0.95 0.008.130.2 0.2 -544.03 8.

5 31.6 0.4 144.1 45.1 0.6 6.963.0 211.4 0.895 Deloitte Haskins & Sells Unqualified with Explanation 1.8 -26.7 43.8 31.465 Deloitte Haskins & Sells Unqualified 31-Mar-2006 Restated Normal 31-Mar-2007 INR 44.1 -8.5 0.Domestic Domestic Pension Plan Expense Interest Cost .3 4.00% 10.565 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate Auditor Auditor Opinion Cash Cash & Equivalents Short Term Investments Cash and Short Term Investments Accounts Receivable .5 120.5 50.4 -1.5 31-Mar-2008 Restated Normal 31-Mar-2009 INR 40.144.8 1.75% 8.75% 8.6 779.0 7.1 32.3 0.4 63.7 0.4 47.7 18.2 107.50% 8.4 910. Post-Retirement Plan Expense Defined Contribution Expense Domestic Total Pension Expense Discount Rate .7 0.5 65.8 16.5 -8.0 10.2 32.7 94.5 6.6 404.0 -6.9 1.6 15.3 57.0 9.5 626. Gross 270.3 -8.50% 7.7 1.75% 8.Total Interest Cost .6 311.1 6.7 6.1 315.0 -9.Trade.1 5.3 56.1 311.4 91.1 6.8 8.7 5.0 1.Domestic Expected Return on Assets .7 73.5 1.PostRetir.8 194.Domestic Total Plan Interest Cost Total Plan Service Cost Total Plan Expected Return 47.4 3.2 586.0 18.6 -26.8 7.6 924.6 265.0 31-Mar-2009 Restated Normal 31-Mar-2010 INR 50.0 529.50% 8.0 211.7 105.50% 8.735 Deloitte Haskins & Sells Unqualified with Explanation 422.Domestic Actuarial Gains and Losses .00% 11.0 57.6 2.1 1.2 0.2 117.Domestic Service Cost .2 3.00% 11.3 7.9 470.Domestic Discount Rate .3 16.2 Page 68 .2 195.1 572.7 75.Total Deferred Tax .7 -8.9 107.6 35.3 120.Post-Retirement Expected Rate of Return .2 91.2 7.5 - Annual Balance Sheet Financials in: USD (mil) Financial Glossary 31-Mar-2010 UpdateType/Date Updated Normal 31-Mar-2010 INR 44.9 727.Post-Retirement Service Cost .5 35.7 0.0 117.0 13.OneSource One-Stop Reports for Tata Motors Limited Rental Expenses Advertising Expense.1 20.9 0.4 19.9 43.7 286.Total Other Tax Income Tax .8 7.8 1.2 38.1 4.8 157.Total Current Tax .4 -6.12 Deloitte Haskins & Sells Unqualified 31-Mar-2007 Restated Normal 31-Mar-2008 INR 43.3 1.Domestic Prior Service Cost .8 5.5 157.9 10.349.5 91.105.6 234.0 2.9 9.3 557.8 94.7 54.Total Deferred Tax .8 772.544.1 77.6 82.2 91.4 10. Supplemental Research & Development Exp.5 87. Supplemental Normalized EBIT Normalized EBITDA Current Tax .4 -9.6 4.6 3.6 2.1 20.3 7.Post-Retirement Actuarial Gains and Losses .6 6.9 265.

4 513.8 4.838.5 1.0 8.4 92.6 102.0 -11.5 283.5 664.395.6 2.8 109.2 1.158.3 662.977.1 744.6 19.1 1.749.765.1 351.6 6.3 1.Net Goodwill.7 6.1 88.5 686.4 2.0 79.019.0 6.029.Gross Accumulated Intangible Amortization Intangibles.Affiliate Companies LT Investments .5 1.1 262.716.797.0 145.8 1.2 76.3 1.7 4.1 285.519.123.879.8 7.999.5 36.5 973.5 6.3 2.3 1.306.2 5.0 0.6 9.5 195.538.1 1.442.219.401.1 54.2 1.3 2.506.3 6.0 1.1 283.206.Net Other Receivables Total Receivables.4 762.0 94.Current Other Current Assets Other Current Assets. Total Total Assets Accounts Payable Accrued Expenses Notes Payable/Short Term Debt Dividends Payable Customer Advances Income Taxes Payable Other Current Liabilities Other Current liabilities.4 3.3 -372.893.420.8 2.3 303.0 -7.219.1 1.650.357.1 4.4 7.2 367.1 3.1 402.LT Liability -58.6 205.8 -36.2 2.796.729.1 63.146.1 12.7 188.1 728.2 270.7 151.615.3 218.2 4.368.6 35.6 1.539.3 9.728.439.5 14.546.9 238.5 1.171.942.2 10.1 14.060.3 377.8 133.838.121.6 134.8 2.9 -188.8 17.1 84.1 2.4 1.Other Total Inventory Prepaid Expenses Restricted Cash .0 1.1 2.4 170.897.0 664.4 1.6 61.9 2.0 90.5 2.8 236.305.2 -16.293.3 398.684.9 9.Other Long Term Investments Deferred Charges Deferred Income Tax .086.8 -1.0 2.3 311.7 671.7 247.6 2.1 0.5 1.0 7.446.3 242.0 94.8 2.9 19.0 733.9 84.5 758.917.8 1.7 821.6 1.6 -1.661.9 13.7 1.5 1.1 3.9 1.3 2.6 3.7 835.5 0.6 94.2 1. Net LT Investment .1 3.5 494.7 8.7 -6.3 443.8 2.119.3 151.0 53.Work In Progress Inventories .3 222.893.9 6.1 3.0 391.292.6 2.972.600.679.9 2.6 381.8 9.6 6.5 76.Raw Materials Inventories .4 67.745.3 395.610.307.076. Total Total Current Assets Buildings Land/Improvements Machinery/Equipment Construction in Progress Leases Other Property/Plant/Equipment Property/Plant/Equipment .6 2.0 293.611.8 144.1 125.331.1 1.7 872.482.899.9 311.3 594.2 398.1 187.7 0.666.4 357.9 3.679.1 -4.0 0. Net Intangibles .7 1.7 1. Net Inventories .2 401.4 1.481.1 184.4 4.9 -13.6 3.0 6.4 6.9 1.8 1.9 0.6 409.7 5.3 -1.7 79.7 4.2 758.754.9 1.7 316.8 101.270.8 399.1 4.9 270.7 28.2 312.2 191.887.473.2 83.1 81.1 24.679.862.887.2 141.Long Term Asset Other Long Term Assets Other Long Term Assets.8 570.8 92.Gross Accumulated Depreciation Property/Plant/Equipment .510.6 420.079. Total Total Current Liabilities Long Term Debt Total Long Term Debt Total Debt Deferred Income Tax .820.810.3 0.8 359.8 456.0 244.2 562.1 556.9 14.OneSource One-Stop Reports for Tata Motors Limited Provision for Doubtful Accounts Trade Accounts Receivable .242.4 344.848.248.Finished Goods Inventories .9 Page 69 .925.7 2.

OneSource One-Stop Reports for Tata Motors Limited
Deferred Income Tax Minority Interest Other Long Term Liabilities Other Liabilities, Total Total Liabilities Common Stock Common Stock Additional Paid-In Capital Retained Earnings (Accumulated Deficit) Unrealized Gain (Loss) Translation Adjustment Other Equity, Total Total Equity Total Liabilities & Shareholders’ Equity Shares Outstanding - Common Stock Primary Issue Shares Outstanding - Common Stock Issue 2 Total Common Shares Outstanding Treasury Shares - Common Stock Primary Issue Employees Number of Common Shareholders Accumulated Intangible Amort, Suppl. Deferred Revenue - Current Total Capital Leases, Supplemental Capital Lease Payments Due in Year 1 Capital Lease Payments Due in Year 2 Capital Lease Payments Due in Year 3 Capital Lease Payments Due in Year 4 Capital Lease Payments Due in Year 5 Capital Lease Payments Due in 2-3 Years Capital Lease Payments Due in 4-5 Years Cap. Lease Pymts. Due in Year 6 & Beyond Total Operating Leases, Supplemental Operating Lease Payments Due in Year 1 Operating Lease Payments Due in Year 2 Operating Lease Payments Due in Year 3 Operating Lease Payments Due in Year 4 Operating Lease Payments Due in Year 5 Operating Lease Pymts. Due in 2-3 Years Operating Lease Pymts. Due in 4-5 Years 351.8 47.6 42.6 42.6 17,573.8 127.1 127.1 1,575.6 696.4 41.4 -612.5 -612.5 1,827.9 19,401.7 187.2 79.4 0.0 0.0 13,491.0 101.3 101.3 1,123.9 355.4 21.8 -431.5 -431.5 1,170.9 14,661.9 242.9 116.7 6,642.2 96.1 96.1 474.3 1,587.1 6.4 4.0 4.0 2,167.9 8,810.1 188.0 57.5 4,072.2 88.7 88.7 540.1 1,122.6 6.0 19.2 19.2 1,776.5 5,848.8 151.9 39.0 2,703.7 85.9 85.9 501.9 771.1 5.9 10.9 10.9 1,375.8 4,079.5

506.4 64.2 570.6 24,310 371,310 372.7 395.7 7.3 4.3 0.7 0.7 0.7 0.7 1.4 1.4 0.2 43.7 15.1 7.1 7.1 7.1 7.1 14.3 14.3

449.8 64.2 514.0 23,638 391,969 188.7 67.2 9.5 4.0 1.4 1.4 1.4 1.4 2.8 2.8 0.0 41.2 13.1 7.0 7.0 7.0 7.0 14.1 14.1

398.1 0.0 398.1 23,230 292,097 0.0 83.3 12.3 4.3 2.0 2.0 2.0 2.0 4.0 4.0 0.0 11.4 3.8 1.9 1.9 1.9 1.9 3.8 3.8

397.9 397.9 22,349 234,629 79.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.7 3.3 1.8 1.8 1.8 1.8 3.7 3.7

395.3 395.3 0.0 29,606 221,403 90.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.5 2.1 0.9 0.9 0.9 0.9 1.7 1.7

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Oper. Lse. Pymts. Due in Year 6 & Beyond Pension Obligation - Domestic Post-Retirement Obligation Plan Assets - Domestic Funded Status - Domestic Funded Status - Post-Retirement Total Funded Status Discount Rate - Domestic Discount Rate - Post-Retirement Expected Rate of Return - Domestic Prepaid Benefits - Domestic Accrued Liabilities - Domestic Accrued Liabilities - Post-Retirement Net Assets Recognized on Balance Sheet Debt Securities % - Domestic Other Investments % - Domestic Total Plan Obligations Total Plan Assets 0.0 135.2 19.4 122.2 -13.1 -19.4 -32.5 6.75% 8.50% 8.00% -13.1 -19.4 -32.5 76.00% 24.00% 154.7 122.2 0.0 113.2 16.8 101.7 -11.5 -16.8 -28.3 6.75% 8.50% 8.00% -11.5 -16.8 -28.3 78.00% 22.00% 130.0 101.7 0.0 139.2 17.6 124.0 -15.2 -17.6 -32.7 7.75% 8.50% -15.2 -17.6 -32.7 69.00% 31.00% 156.7 124.0 0.0 118.2 14.1 99.7 -18.5 -14.1 -32.7 8.50% 0.1 -18.7 -14.1 -32.7 132.3 99.7 0.0 -65.4 -65.4 -

Annual Cash Flows
Financials in: USD (mil) Financial Glossary 31-Mar-2010 Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.459072 Deloitte Haskins & Sells Unqualified with Explanation 541.7 818.1 818.1 -330.8 -17.8 665.0 316.4 -1,024.8 -262.2 0.0 1,835.1 -267.8 280.2 1,956.5 31-Mar-2009 12 Months Restated Normal 31-Mar-2010 INR 45.98813 Deloitte Haskins & Sells Unqualified with Explanation -544.8 544.1 544.1 -164.2 11.2 757.3 604.4 206.7 150.7 -18.3 -649.7 148.3 -162.3 441.5 31-Mar-2008 12 Months Updated Normal 31-Mar-2008 INR 40.278756 Deloitte Haskins & Sells Unqualified 31-Mar-2007 12 Months Restated Normal 31-Mar-2008 INR 45.22085 Deloitte Haskins & Sells Unqualified 31-Mar-2006 12 Months Reclassified Normal 31-Mar-2007 INR 44.213701 Deloitte Haskins & Sells Unqualified

Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion

Net Income/Starting Line Depreciation Depreciation/Depletion Deferred Taxes Unusual Items Equity in Net Earnings (Loss) Other Non-Cash Items Non-Cash Items Accounts Receivable Inventories Other Assets Accounts Payable Other Operating Cash Flow Changes in Working Capital Cash from Operating Activities

538.2 193.0 193.0 -38.8 -16.2 371.9 316.8 -186.5 -30.5 0.0 724.0 -165.9 341.1 1,389.2

479.9 151.3 151.3 -12.7 -8.7 263.2 241.8 -1,043.8 -151.3 280.3 -151.8 -1,066.6 -193.6

390.8 141.3 141.3 32.1 -39.3 -9.9 209.8 160.6 -515.5 -91.6 77.0 -112.7 -642.8 82.1

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Purchase of Fixed Assets Capital Expenditures Acquisition of Business Sale of Fixed Assets Sale/Maturity of Investment Investment, Net Purchase of Investments Other Investing Cash Flow Other Investing Cash Flow Items, Total Cash from Investing Activities Other Financing Cash Flow Financing Cash Flow Items Cash Dividends Paid - Common Total Cash Dividends Paid Sale/Issuance of Common Common Stock, Net Issuance (Retirement) of Stock, Net Short Term Debt, Net Long Term Debt Issued Long Term Debt Reduction Long Term Debt, Net Issuance (Retirement) of Debt, Net Cash from Financing Activities Foreign Exchange Effects Net Change in Cash Net Cash - Beginning Balance Net Cash - Ending Balance Cash Interest Paid Cash Taxes Paid -1,785.8 -1,785.8 4.7 457.6 -206.4 -101.2 43.9 198.6 -1,587.3 -618.9 -618.9 -73.0 -73.0 351.4 351.4 351.4 -725.6 6,051.5 -4,456.2 1,595.3 869.8 529.3 -24.4 874.1 501.8 1,375.9 601.6 259.0 -2,168.1 -2,168.1 16.3 222.8 183.4 -2,378.7 32.8 -1,923.5 -4,091.6 -532.6 -532.6 -151.6 -151.6 893.6 893.6 893.6 915.6 4,529.7 -1,792.1 2,737.6 3,653.2 3,862.5 -179.7 32.7 485.1 517.9 519.0 130.2 -1,311.0 -1,311.0 11.5 109.8 -196.7 -238.2 284.5 -29.1 -1,340.0 -249.3 -249.3 -170.1 -170.1 0.0 0.0 0.0 282.7 1,845.4 -1,091.3 754.1 1,036.8 617.4 -6.0 660.6 286.6 947.2 260.6 165.9 -610.1 -610.1 0.0 22.0 9.6 24.3 -4.1 26.1 77.9 -532.2 -103.4 -103.4 -127.2 -127.2 190.4 931.8 -216.3 715.5 905.9 675.3 -0.7 -51.2 306.6 255.1 102.9 151.8 -284.8 -284.8 -103.8 3.5 76.3 182.7 -15.6 40.6 183.6 -101.2 -65.3 -65.3 -118.5 -118.5 22.4 162.0 -141.7 20.4 42.7 -141.1 -0.6 -160.8 474.4 313.6 73.6 125.8

© 1983-2010 Reuters Research Inc. All Rights Reserved. Published by OneSource Information Services, Inc., September, 2010.

Page 72

9 422.015.2 Page 73 .0 -967.162. Wages Stores.8 123.9 231.2 -12.4 -790.3 48.586.7 1.2 534.919.1 -54.008.008.278756 Deloitte Haskins & Sells Unqualified 31-Mar-2007 12 Months Reclassified Normal 31-Mar-2008 INR 45.113.765.6 18.8 19.8 572.213701 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion Gross Sales Excise Duty Income on securitisation / sale of recei Interest income on Loan contracts (net) Miscellaneous income Profit on sale of current investments Profit on sale of controlling stake in a Profit on sale of other long term invest Dividend & Other Income Total Revenue Stock in Trade & WIP Purchase of Product for Sale Etc Consumption of Raw Material and Compon.7 4.586.8 166.6 -642.293.3 55.844.1 575.517.190.0 31-Mar-2009 12 Months Reclassified Normal 31-Mar-2010 INR 45.0 8.5 5.2 1.5 17.3 626. spare parts and tools consumed Power and fuel Excise Duty on Stock in Trade Publicity General & Admin Expenses Exchange (Gain) / Loss Loss on sale of assets Loss on Assets Scrapped / Written off Other Expenses Selling & General Expenses Expenditure Transfer to Capital & Other Product Development Expenses 10.1 -90.7 16.7 0.2 -1.5 1.4 -1.6 15.7 33.4 8.7 105.189.9 7.3 1.5 149.5 185.4 1.165.0 -1.6 172. URL: http://www.9 146.369.6 31-Mar-2008 12 Months Reclassified Normal 31-Mar-2009 INR 40.1 -140.1 223.3 723.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.4 672.3 7.0 -163.400.4 -242.1 -85.3 6.0 155.724.872.0 121.22085 Deloitte Haskins & Sells Unqualified 31-Mar-2006 12 Months Reclassified Normal 31-Mar-2007 INR 44.476.2 1.4 -698. India.0 2.7 755.7 106.1 66.5 14. Processing Charges Salaries.4 8.4 212. Tel: 91-22-66658282.1 11.5 84.4 131.2 9.459072 Deloitte Haskins & Sells Unqualified with Explanation 19.0 1.4 307.7 916.2 222.98813 Deloitte Haskins & Sells Unqualified with Explanation 15.8 0.799.6 207.9 0.2 681.7 75.7 -241.8 3.com/ Annual Income Statement Financials in: USD (mil) Except for share items (millions) and per share items (actual units) 31-Mar-2010 Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.1 896.166.1 5.4 8.tatamotors.5 -3.9 16.3 18.2 17.7 -0.8 403.6 0.431.1 145.5 654.2 120.8 6.753.524.

6 -16.3 487.1 420.5 19.94 0.130.6 -463.4 73.1 0.1 104.0 -536.9 479.2 211.3 144.2 189.4 17.25 398.6 584.9 390.0 16.5 -30.8 682.8 0.6 531.21 2.35 2.4 0.00 0.24 1.2 211.1 1.24 0. Basic Normalized EPS Diluted Normalized EPS 819.6 -52.2 -63.8 386.8 194.1 742.0 6.6 390.8 527.8 541.3 604.9 1.OneSource One-Stop Reports for Tata Motors Limited Depreciation Interest Expense Capitalized Interest Interest Received Discount Charges.899.2 0.2 538.95 0.8 -544.0 9.9 1.24 0.28 112. Items Net Income Income Available to Com Excl ExtraOrd Income Available to Com Incl ExtraOrd Basic Weighted Average Shares Basic EPS Excluding ExtraOrdinary Items Basic EPS Including ExtraOrdinary Item Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excluding ExtraOrd Items Diluted EPS Including ExtraOrd Items DPS-Equity Shares DPS-A Ordinary Shares Gross Dividends .24 0.9 -0.3 -6.00 143.4 0.6 766.03 8.5 -5.8 390.15 1.5 390.2 211.6 -4.5 766.14 67.8 440.8 1.35 1.4 237.7 541. Expenditure in Sub.5 -1.4 435.1 593.2 152.153.94 0.9 530.15 1.8 16.21 1.0 70.13 0.4 -17.5 -11.8 1. Avail to Com.049.36 0.95 Page 74 .0 -39.6 479.8 -32.1 0.2 -541.0 2.15 0.5 141.2 538.35 1.1 67. of Miscellaneous Exp.0 -70.24 -1.7 -13.33 181.2 -544.7 545.8 386.7 479. net Amort.00 1.0 70.9 1.0 4.25 -1. Adjustment of Misc.8 541.95 0.8 72.03 1.0 830.0 -1.8 390.0 448. of Misc.0 -42.21 1.9 479.15 389.7 -544.0 0.05 440.1 0.32 0.3 393.4 0. in Subsidiaries Net Income Before Extra.9 8.8 -544.00 2.5 -1.8 -471.4 8.8 550.4 554.2 416.2 -550.3 144.0 -47.9 195.24 -1.0 73.8 531.32 127.0 0. in Subs.4 554.7 -0.2 479.4 1.2 482.507.Common Stock Normalized Income Before Taxes Inc Tax Ex Impact of Sp Items Normalized Income After Taxes Normalized Inc.7 541.7 -14.1 1.2 107.3 682.3 540. National Exchange Loss/Gain on Revaluati Others Provision for Investment Separation Cost Total Operating Expense Net Income Before Taxes Provision for Income Taxes Net Income After Taxes Minority Interest Share of Associate Amort.3 487.0 1.1 431.9 141.8 538.2 538. Exp.2 1.8 538.24 397.0 -544.9 195.

465 31-Mar-2006 Restated Normal 31-Mar-2007 INR 44.6 -5.50% 16.Superannuation Interest Cost .50% 8.Gratuity Current Service Cost .5 120.2 38.4 3.3 19.9 9.4 194.8 63.8 7.Gratuity Interest Cost .00% 8.6 1.00% 8.Superannuation Current Service Cost .7 6.Total Fringe Benefit Tax Income Tax .565 Filed Currency Exchange Rate Page 75 .PostRetirement Interest Cost .0 77.5 0.0 159.5 91.1 0.0 211.Gratuity Expected Rate of Return .0 10.9 6.0 626.9 -1.BKY/PSY Salary Increase Rate .2 165.Gratuity Salary Increase Rate .4 0.00% 4.Total Current Service Cost .0 -70.6 1.Gratuity Discount Rate .3 -1.5 87.50% 75.9 378.7 1.50% 18.Total Deferred Tax .5 50.9 0.2 32.3 15.2 1.3 4.00% 8.50% 16.1 -9.2 0.BKY/PSY Domestic Pension Plan Expense Current Service Cost .0 0.3 2.2 7.5 -8.7 5.0 211.BKY/PSY Discount Rate .2 117.8 94.3 0.1 20.7 57.8 -26. Post-Retirement Plan Expense Provident Fund Expenses Total Pension Expense Discount Rate .2 0.BKY/PSY Interest Cost .0 -0.6 2.75% 8.0 57.4 63. Discount Rate .5 157.1 0.7 9.0 1.Total Current Tax .2 1.7 43.75% 8.6 0.7 107.1 94.7 47.OneSource One-Stop Reports for Tata Motors Limited Research & Development Exp Depreciation and Amortization Amortization Interest Expense Interest Capitalized Advertsing Expense Rental Expense Current Tax .5 -30.1 6.1 45.5 31.6 4.2 91. 105.5 - Annual Balance Sheet Financials in: USD (mil) 31-Mar-2010 UpdateType/Date Updated Normal 31-Mar-2010 INR 44.6 -63.1 117.7 1.1 10.2 195.50% 4.5 120.2 102.Gratuity Prior Service Cost Actuarial Gain/Loss .5 65.00% 8.00% 8.2 3.0 13.7 43.8 0.Post Ret.0 2.0 70.7 -1.Post Ret.2 91.8 6. Expected Rate of Return .6 481.Superannuation Expected Return on Assets Superannuati Actuarial Gain/Loss .6 572.6 -8.2 141.3 367.895 31-Mar-2009 Restated Normal 31-Mar-2010 INR 50.0 653.7 73.5 0.8 8.12 31-Mar-2007 Restated Normal 31-Mar-2008 INR 43.Post-Retirement Actuarial Gain/Loss .4 144.6 -26.5 35.8 31.Superann.6 35.8 -4.6 10. Return on Assets .4 91.75% 8.0 6.1 32.1 20.3 3.8 152.4 0.4 6.1 4.1 5.3 157.Total Deferred Tax .6 82.7 18.00% 8.2 107.Gratuity Exp.735 31-Mar-2008 Restated Normal 31-Mar-2009 INR 40.00% 8.7 3.BKY/PSY Actuarial Gain/Loss .Superann.

6 925.1 6.1 1.5 - 1.510.1 257.0 0.1 5.6 0.831.6 -13.8 570.3 81.307.9 28.8 1.1 733.473.5 34.3 529.0 153.0 102.6 46.7 1.477.1 2.7 92.7 306.2 84.954.7 53.3 14.305.3 -1.8 1.745.4 6.5 54.0 109.9 285.2 332.9 1.4 34.6 94.481.5 9.2 203.9 30.1 204.8 92.0 304.7 315.8 307.0 1.9 -16.292.3 7.7 286.3 311.1 -6.2 422.5 311.4 1.8 359.0 163.6 -188.9 1.0 9.7 -1.3 404.7 -372.8 2.1 Deloitte Haskins & Sells Unqualified Deloitte Haskins & Sells Unqualified Deloitte Haskins & Sells Unqualified Interest Accrued Stores & Spare Parts Consumable Tools Raw Materials Work in Progress Stock in Trade Goods in Transit Sundry Debtors.7 32.0 62.OneSource One-Stop Reports for Tata Motors Limited Auditor Auditor Opinion Deloitte Haskins & Sells Unqualified with Explanation 0.1 420.9 8.9 -7.368.517.0 10.0 262.7 2.2 43.0 594.0 56.506.2 0.1 1.357.8 0.8 194.9 190.4 270.6 -1.6 38.796.1 6.1 8.446.3 34.5 49.309.1 0.4 134.5 185.6 1.1 4.7 279.1 397.1 25. Public Bodies Deposit Given as Collateral Security MAT Credit Entitlement Prepaid Expenses Loans/Advances Total Current Assets Land Railway Sidings Water System Leased Plant Leased Premises Leasehold Land Buildings Plant/Machinery Furniture/Fixtures Technical Know-how Vehicles/Transport Assets Taken on Lease Assets Given on Lease Depreciation Product Development Costs Product Development Costs Trade marks and brands Developed Technologies Software Accumulated amortization Work in Progress Goodwill Investment in Associate Investments Deferred Taxes 0.5 8.076.2 42.1 184.0 306.2 76.4 47.1 762.8 93.9 4.635.797.1 1.5 38.2 -11.0 36.9 28.9 211.6 25.3 192.3 14.8 2.2 - 1.3 190.1 17.248.492.7 8.6 141.1 361.0 -58.605.3 2.7 0.442.0 77.8 24.2 1.1 340.519.3 381.1 664.8 102.6 35.0 10.0 265.0 12.4 218.6 1.6 20.9 366.5 602.8 222.3 33.6 9.349.5 23.9 270.6 102. Gross Provision for Doutful Debts Others Cash/Bank Balances Cash in Hand & in Current Account Short term deposits with Banks Restricted deposits Margin Money / Cash Collateral with Bank Deposit with Governmet.5 283.8 11.0 1.086.9 Deloitte Haskins & Sells Unqualified with Explanation 0.370.4 126.1 34.0 101.752.4 34.9 397.3 25.4 36.8 3.5 94.0 63.5 -36.4 32.482.5 36.8 34.7 8.1 36.1 569.3 1.5 0.6 205.1 - Page 76 .6 88.0 0.6 2.

4 3.6 91.8 191.246.6 17.9 220.7 6.2 2.5 662.701.6 2.401.600.491.0 79.3 0.1 4.810.9 39.2 449.0 14.4 144.8 127.6 42.8 4.1 1.5 0.2 1.3 10.2 79.5 1.0 13.3 0.1 0.1 2.7 1.3 1.4 24.7 445.121.0 76.4 22.827.6 6.029.0 13.7 8.2 3.2 0.0 17.742.8 1.4 66.661.170.9 410.5 19.7 1.8 47.0 101.9 395.848.8 64.9 0.0 397.096.8 1.0 439.2 1.0 308.110.057.7 0.389.5 -226.684.7 5.7 85.5 19.0 15.3 9.401.4 758.3 67.4 0.1 203.3 32.5 5.1 383.9 0.0 242.7 388.703.942.9 0.887.1 2.7 5.9 188.7 90.375.5 506.2 79.6 0.2 151.9 835.5 21.0 -383.5 -306.0 6.0 22.0 2.679.1 -612.OneSource One-Stop Reports for Tata Motors Limited Foreign currency monetary item Miscellaneous Expenditure Total Assets Acceptances Sundry Creditors Liabilities for buyback arrangement Advance Payments Liability towards premium on redemption Interest Accrued Investor Fund Amount Due from Customer Contract Work Proposed Dividends Provision for tax on dividends Provision for Income tax Provision for retirement and other emplo Provisions Total Current Liabilities Secured Loans Unsecured Loans Total Long Term Debt Deferred Tax Minority Interest Foreign Currenty Monetary Items Total Liabilities Capital Securities Premium Capital Redemption Reserve Capital Reserve on Consolidation Debenture Redemption Reserve Amalgamation Reserve Special Reserve Revaluation Reserve Hedging Reserve Pension reserve General Reserve Earned Surplus Reserve Reserves on Research & HRD Restricted Reserve Translation Reserve Proft & Loss Account Total Equity Total Liabilities & Shareholders' Equity S/O-Equity Shares S/O-A Ordinary Shares 0.2 88.650.192.754.7 1.3 9.072.0 15.0 0.8 1.7 0.5 197.293.167.0 15.4 0.0 2.4 0.6 76.079.498.331.6 1.4 41.8 -17.0 1.9 8.9 - 395.0 0.6 3.0 6.9 116.4 1.2 83.5 0.2 133.5 94.0 699.8 2.2 4.3 - Page 77 .7 653.9 1.2 803.3 4.1 153.2 435.8 3.8 5.9 83.9 6.3 2.0 686.2 1.0 57.1 1.0 19.642.5 4.9 14.7 125.6 0.395.5 91.4 64.020.4 4.8 4.9 245.026.5 79.7 1.8 562.3 6.810.5 0.8 560.0 -431.7 1.661.838.2 0.7 0.1 2.8 351.0 4.6 75.8 1.573.018.1 1.2 314.9 459.776.4 187.2 96.4 7.893.2 118.495.2 0.079.6 7.3 2.9 51.8 288.848.2 -287.9 19.0 19.2 398.5 17.0 1.8 7.146.6 242.7 2.7 61.0 0.4 212.5 0.

Gatuity Funded Status .1 25.BKY/PSY Liability .00% 8.Superann.Post-Retirement Total Funded Status Discount Rate .1 -32. Asset .230 292.00% 8.097 4.4 139.Gratuity Expected Rate of Return -Gratuity Salary Increase Rate .2 -9.50% -15.OneSource One-Stop Reports for Tata Motors Limited Total Common Shares Outstanding T/S-Equity Shares Deferred Revenue .969 4.4 -32.7 83.7 23.1 83.7 24.1 28.5 14.00% 8.6 395.2 2.00% 8.5 -16.0 12.638 391.5 6. FV of Plan Assets .1 0.606 221. Liability .1 0.5 -65.Superann.8 0.Post Ret.5 13.00% 47.1 3.Gatuity FV of Plan Assets .BKY/PSY PV of Funded Obligations .3 0.7 7.8 -16.2 9.3 8.00% 397.00% 8.629 0.5 -14.Gatuity PV of Funded Obligations .50% -11.00% 24.Gratuity Balances with Banks %-Gratuity Debt Securities % .1 -19. Balances with Banks %.6 -32.Superann.50% -13.4 -65.4 -19.4 16.00% 4.2 124.Gratuity Discount Rate .7 135.8 7.BKY/PSY Funded Status .1 0.4 - Annual Cash Flows Financials in: USD (mil) 31-Mar-2010 31-Mar-2009 31-Mar-2008 31-Mar-2007 31-Mar-2006 Page 78 .4 -32.2 7.Superann. Funded Status .Gratuity Net Assets Recognized on Balance Sheet Debt Securities % .7 372.1 19.3 0.50% -9.8 -28.0 22.6 43.00% 8.2 113.3 15.Remaining Maturities Total Capital Leases Operating Leases Maturing within 1 Year Operating Leases Maturing within 5 Years Total Operating Leases PV of Funded Obligations .0 9.5 -9.8 -28.1 -32.4 5.Superann.Superann.50% 4.00% 514.00% 8.0 90.7 53.9 79.2 -17.75% 8.1 -14.2 -9.1 28.BKY/PSY Salary Increase Rate .0 5.3 10.2 101.6 -32.75% 8.0 0.3 6.7 -11.Post Ret.3 83.00% 31.403 0.00% 27.75% 8.Current Accumulated Intangible Amortization Full-Time Employees Number of Common Shareholders Capital Leases Maturing within 1 Year Capital Leases Maturing within 5 Years Capital Leases .00% 73.Gratuity Liability .2 188.Post-Ret.Superann.310 4.3 3.3 7. PV of Funded Obligations .3 29.0 23. Funded Status .00% 395.2 122.7 8.1 41.1 0.Superann.5 76. Expected Rate of Return .00% 398.BKY/PSY Discount Rate .5 0.3 78.5 16.7 11.2 -13.310 371.5 0.2 17.349 234.6 -17.3 2. Provision for Retirement & Other Benefit Liability .00% 22.7 69. Discount Rate .0 67.1 3. 570.0 -15.

5 0.8 6.9 1.0 0.4 16.2 65.9 0.2 -1.6 150.3 280.2 0.1 0.0 0.2 32.8 211.0 0.9 5.3 0.3 -91.0 -16.1 40.389.8 3.8 141.1 -284.OneSource One-Stop Reports for Tata Motors Limited Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.5 0.9 485.9 0.7 -649.7 64.1 3.0 -262.3 142.1 44.0 -915.5 724.9 -6.4 0.3 -7.1 -18.2 -2.0 0. Net Cash & Bank Balance Taken on Acquisiti Cash and Bank balances on sale of contro Acquisition Cash from Amalgamation Cash from Operating Activities Capital Expenditures Sale of Fixed Assets Purchase of Investments in Associates 538.5 -1.5 1.2 1.4 -9.Financing of Const.0 0.956.7 -0.5 -2.3 -0.1 22.2 193.7 -0.785.9 151.0 82.4 -0.3 0.3 -3.1 -165.0 8.4 211.7 1.9 -146.2 0.6 1.3 -1.0 390.0 -403.6 77.0 -130.8 -259.8 -15.8 13.2 278.0 -8.5 7.6 0.22085 Deloitte Haskins & Sells Unqualified 12 Months Reclassified Normal 31-Mar-2007 INR 44.0 441.7 479.2 -125.1 16.7 284.1 32.0 0.9 -174.0 11.4 0.6 -610.5 73.2 1.0 Page 79 .2 12 Months Updated Normal 31-Mar-2008 INR 40.3 -869.8 -55.3 -112.7 -0.0 402.311.213701 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion Profit after Tax Depreciation Gain on Asset Sale Relocation Expenditure Profit on Sale of Control Stake in Subs Gain on Sale of Investment Reversal of Provision for Diminuition Impairment of Goodwill Provision for Inter-Corporate Deposits Gain .2 -18.459072 Deloitte Haskins & Sells Unqualified with Explanation 541.4 195.0 -173.0 112.4 0.0 11.0 -4.7 14.3 -38.0 0.98813 Deloitte Haskins & Sells Unqualified with Explanation -544.9 -33.1 -151.8 4.1 153.0 -17. Loss on Liquidation of Subsidiary Amortization Miscellaneous Expenditure Employee Separation Employee Separation Cost of subsidiary c Trade/Other Receivable Inventories Trade/Other Payables Vehicle Loans & Hire Purchase Receivable Direct Taxes Paid.0 0.7 -151.3 0.3 -1.8 -193.2 -0.1 15.7 16.835.4 0.5 -1. Equipment Gain on Buy Back of FCCN & CARS Share of Associate Minority Interest Income Tax Wealth Tax Deferred Tax Interest/Dividend Unrealized Exchange Gain Profit on Issue of Shares by a Subs.8 -9.278756 Deloitte Haskins & Sells Unqualified 12 Months Restated Normal 31-Mar-2008 INR 45.5 -23.4 -30.1 -109.0 0.7 -9.0 -13.3 -11.7 0.3 12 Months Restated Normal 31-Mar-2010 INR 45.2 -0.168.0 -1.2 -222.8 544.7 818.0 -156.

4 Page 80 .0 0.3 0.0 0.6 -1.9 183.356.1 2.2 0.4 -2.587.5 -86.0 -11.3 0.2 6.6 0.1 244.8 0.6 -0.1 6. Notes Stamp Duty on FCCN Conversion Premium on Redemption of FCCN Expenses on Non-convertible debenture Proceeds from issue of shares held in ab Proceeds from issue of shares by Joint v Proceeds from GDS issue LT Debt Proceeds -206.Con.4 0.Others Proceeds from Sale of stake in Telcon Decrease in Investments in retained inte Decrease in Investments in retained inte Sale of Investments in associate company Sale/Redemption of InvestmentsOther Deposits of Margin Money / Cash Collater Realisation of Margin Money / Cash Colla Fixed deposits with scheduled banks made Fixed deposits with scheduled banks real Increase in restricted deposits with sch Interest Received Acquisition of Stake in Joint Venture Proc.5 -1.5 20.8 -101. from Transfer Activity .0 6.0 0.0 0.3 0.0 0.1 0.9 -30.3 9.8 0.0 17.0 -0.0 202.7 0.5 50.1 -6.4 52.0 9.9 35.0 -0.0 4.8 182.0 489.340.0 0.0 0.0 0.9 0.8 46.6 268.3 10. Acquisition of Subsidiary Refund from Escrow Account Sale of Investments Proceeds from Liquidation of Subsidiary Sale of Investment in Subsdiary Company Payment for Purchase of Business Admin.7 -196.7 -13.0 0.2 40.8 22.0 -4.5 0.0 -532.3 30.5 16.0 -103.1 61.0 4.6 20.0 0.1 7.7 3.6 -13.091.0 1.0 -0.OneSource One-Stop Reports for Tata Motors Limited Sale/Purchase of Mutual Fund Investment in JLR Business Investment in Subsidiary Companies Investments .7 351.3 10.0 0.7 0.340.2 0.0 -104.0 0.1 -0.4 -109.3 0.8 0.7 0.7 -1.261. Equ.6 -4.9 38.0 -31.9 -2.6 60.4 185.0 0.0 931.7 -15.4 -297.1 6.621.0 -129. Dividend from Associate Dividend Received Short Term Inter Corporate Deposits Loans to Associates & Others Inter-Corporate Deposits Received Cash from Investing Activities Proceeds from Issue of CARS Issue of Foreign Currency Con.4 -1.8 0.0 0.0 1.1 0.0 0.8 220.1 -12.2 100.0 17.4 117.5 4.3 5.0 3.0 5.0 0.0 0.

0 0.2 -725.6 893.7 0.4 0.6 268.792.6 -141. Dividend Paid to Minority Interest Interest Paid Cash from Financing Activities Foreign Exchange Effects Net Change in Cash Net Cash .8 474. 2010.9 601.6 73.2 -1.4 8.7 -0.4 3.Ending Balance Cash Interest Paid Cash Taxes Paid -4.9 675.0 3.6 -102.2 -260.6 125.0 0.091.5 -179.7 -51. Net Issue of Right Shares Proceeds from fixed deposits Repayment of Fixed Deposits Issue of Shares to Minority Interests Premium on Long Term Forward Contracts Preliminary Expenses Incurred Dividends Paid Tax Paid on Interim Dividend by Subs.Beginning Balance Net Cash .2 260.1 102.7 22.6 -13.1 501.6 259.0 -4.0 0.2 306.0 0.9 519.1 517.6 0. September. Page 81 .6 529.1 915.0 -73.8 1.6 -160.4 -6.2 -1.9 -216.4 313.1 -151.862.0 130.6 165..0 -170.6 947.6 617.5 -519.3 -0.0 -1.0 -0.9 151.6 255.OneSource One-Stop Reports for Tata Motors Limited LT Debt Payments ST Borrowings.0 15.4 -0.0 0.3 -24.5 -73.6 -127.0 429. Published by OneSource Information Services.3 282.1 0.8 -141.7 -16.3 190. All Rights Reserved.1 -0.7 -601.0 -1.7 32.8 © 1983-2010 Reuters Research Inc.0 660.375.0 -118.5 0.440.6 0.7 485.0 11.0 0. Inc.6 286.4 874.

8 7.78% 7.4 5.465000 31-Mar-2006 3.49% -34.49% 57.67% 30.73% 27.76% 64.31% 19.20% 31-Mar-2009 31-Mar-2008 31-Mar-2007 31-Mar-2006 Page 82 . India.24% 49.32% 8.33% 10.401.16% 5.10% 3.82% -3.0 742.735000 31-Mar-2008 1.7 17.37% 50.84% 12.23% 105.77% 45.838.74 0.97% -3.5 498.35% -4.616613 - 541.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.com/ Financial Health Financials in: USD (mil) Except for share items (millions) and per share items (actual units) Key Indicators USD (mil) Quarter Ending 30-Jun-2010 5.27% 0.8 24310 570.872.7 40.36% 26.7 21.02 5.57% 68.895000 3-ExchangeRate: INR to USD Period End Date 31-Mar-2009 17.50% 6.895000 -15.8 1.59% 6.44 1.72% 42.12% 36.84% 8.03% 30.459072 47.74% 3.8 Quarter Annual Ending Year End Yr Ago 31-Mar-2010 61.57% 43.120000 31-Mar-2007 2.80% 8.60 -3.956.03 29.573.1 44.78% 9.59% 8.76% 13.41 0.89 6.459072 44.49% 5 Year Growth 36.29% 4.41% 9. Tel: 91-22-66658282.03 1.74% 2.77% Total Revenue1 (?) Research & Development1 (?) Operating Income1 (?) Income Available to Common Excl Extraord Items1 (?) Basic EPS Excl Extraord Items1 (?) Capital Expenditures2 (?) Cash from Operating Activities2 (?) Free Cash Flow (?) Total Assets3 (?) Total Liabilities3 (?) Total Long Term Debt3 (?) Employees3 (?) Total Common Shares Outstanding3 (?) 1-ExchangeRate: INR to USD Average for Period 2-ExchangeRate: INR to USD Average for Period 3-ExchangeRate: INR to USD Period End Date 436. URL: http://www.90% 9.25 1.87% -2.92% 2.26 1.52% 45.6 47.02 4.785.83% 1.54 45.95 1.94% -2.26% 3 Year Growth 42.50% 9.00% 357.23% 7.84% Utility Industry Specific USD (mil) 31-Mar-2010 Deferred Charges 3 (?) 0.11% 31.61% 80.0 50.0 1.83% 49.32% 13.16 6.7 43.84% 11.33 1.42 1.33% 17.565000 Key Ratios 31-Mar-2010 Profitability Gross Margin (?) Operating Margin (?) Pretax Margin (?) Net Profit Margin (?) Financial Strength Current Ratio (?) Long Term Debt/Equity (?) Total Debt/Equity (?) Interest Coverage (?) Management Effectiveness Return on Assets (?) Return on Equity (?) 3.31% 32.0 44.5 180.938.4 19.97% -2.55 1.29 5.50% 66.00% 5.62% 2.7 1.2 1 Year Growth 31.81 12.10% 15.41 1.50% 30.tatamotors.40% 10.

Enterprise Value/Revenue (TTM) (?) . 2010.66 0..17 5.34 7.29 7.31 2.45 9. All Rights Reserved.49 4.170. Inc.68 5.910000 46.48 46.7 © 1983-2010 Reuters Research Inc.54 12. Market Cap1 (?) 12. Published by OneSource Information Services.21 1. Page 83 .69 1.3 0.54 4.77 1.OneSource One-Stop Reports for Tata Motors Limited Efficiency Receivables Turnover (?) Inventory Turnover (?) Asset Turnover (?) Market Valuation USD (mil) P/E (TTM) (?) Price/Sales (TTM) (?) Enterprise Value/EBITDA (TTM) (?) 1-ExchangeRate: INR to USD on 27-Aug2010 2-ExchangeRate: INR to USD on 30-Jun-2010 5.97 1.02 1.99 7.049. September.40 7. Enterprise Value2 (?) .18 3.445000 .

63% 14.14% 13.61% 2.34% -15.61 11.21% 7.67% 44.33% 1.70 -19.95 31.26% 1.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.01% 1.37 1.68 0.com/ Ratio Comparisons Traded: New York Stock Exchange: TTM Industry: Auto & Truck Manufacturers Sector: Consumer Cyclical Company Valuation Ratios P/E Excluding Extraordinary (TTM) (?) P/E High Excluding Extraordinary Last 5 Yrs (?) P/E Low Excluding Extraordinary .52% -1.53 0.87 2.37 23.46% 18.12 3.75 30.84 29.5 Yr Avg (?) Net Profit Margin (TTM) (?) 29.44% 1.01% 17.67 1.Last 5 Yrs (?) Beta (?) Price/Revenue (TTM) (?) Price/Book (MRQ) (?) Price to Tangible Book (MRQ) (?) Price to Cash Flow Per Share (TTM) (?) Price to Free Cash Flow Per Share (TTM) (?) Dividends Dividend Yield (?) Dividend Per Share .38% 5.30% 0.59% -4.63 17.62% 18.60% 5.28 20.77% 28. India.5 Yr Avg (?) Dividend 5 Yr Growth (?) Payout Ratio (TTM) (?) Growth Rates (%) Revenue (MRQ) vs Qtr 1 Yr Ago (?) Revenue (TTM) vs TTM 1 Yr Ago (?) Revenue 5 Yr Growth (?) EPS (MRQ) vs Qtr 1 Yr Ago (?) EPS (TTM) vs TTM 1 Yr Ago (?) EPS 5 Yr Growth (?) Capital Spending 5 Yr Growth (?) Financial Strength Quick Ratio (MRQ) (?) Current Ratio (MRQ) (?) LT Debt/Equity (MRQ) (?) Total Debt/Equity (MRQ) (?) Interest Coverage (TTM) (?) Profitability Ratios (%) Gross Margin (TTM) (?) Gross Margin .00 2.96 -70.81 36.37% 19.5 Yr Avg (?) Pretax Margin (TTM) (?) Pretax Margin .07% 33.93% 44.85% 3.98% 7.77% -0.37% 2.49% 5.5 Yr Avg (?) EBITD Margin (TTM) (?) EBITD Margin .25 1.83% 4.59% 9.31% -5.01% Page 84 .28% 6.tatamotors.25 1.49% 19.20% 9.12 1.43 2.42 7.25 2.75 13.91% 19.19% 2.81 3.86 13.27 3.04 11.06 5.91 3.32 4.55% 16.44 10.50 Industry Sector Financials in: USD (actual units) As of 27-Aug-2010 S&P 500 21.15% 1.60 32.86 0.09% 26.11% 12.61 10.45% 0.01% 1.71 7.50% 22.30% 2.14% 2.68% 10. Tel: 91-22-66658282.48% -7.21% 7.32% 11.79 8.79% 43.46% 18.67 0.03% 0.12% -41.66% 24.66% 4.64% 6.73 1.90 12.41% 1.12 0.71% 3.43 2.36% 14.30 30.12 1.5 Yr Avg (?) Operating Margin (TTM) (?) Operating Margin .53% 31.29% 6.20% 17.55% 2.06% 5.53 9. URL: http://www.47% -0.06 4.

80% 4. Page 85 .41% 1.52 1.68 461.24 0.15% 8.87 12.5 Yr Avg (?) Effective Tax Rate (TTM) (?) Effective Tax rate .5 Yr Avg (?) Efficiency Revenue/Employee (TTM) (?) Net Income/Employee (TTM) (?) Receivables Turnover (TTM) (?) Inventory Turnover (TTM) (?) Asset Turnover (TTM) (?) 644.37% 10. September.70 42.750.91 0.49% 21.5 Yr Avg (?) Return on Investment (TTM) (?) Return on Investment .65% 14.16 109. 2010.426..56 10.996.41 31.13% 5.5 Yr Avg (?) Management Effectiveness (%) Return on Assets (TTM) (?) Return on Assets .21% 39.48% 4.18% 16.57 6.15 3.44 29.00% 18.OneSource One-Stop Reports for Tata Motors Limited Net Profit Margin .31% 2.79% 20.87% 14.40% 30.86 13. Published by OneSource Information Services.69% 12.5 Yr Avg (?) Return on Equity (TTM) (?) Return on Equity .82% 7.96% 8.19% 23.21% 22.13 848.998.754.17% 30.17% 0.51% 12. Inc.99% 8.73 0.525.06% 28.52% 12.15% 2.95% 6.13% © 1983-2010 Reuters Research Inc. All Rights Reserved.

735 0.33 1.78% 7.com/ Annual Ratios Financials in: USD (mil) Except for share items (millions) and per share items (actual units) 31-Mar-2010 Financial Strength Current Ratio (?) Quick/Acid Test Ratio (?) Working Capital1 (?) Long Term Debt/Equity (?) Total Debt/Equity (?) Long Term Debt/Total Capital (?) Total Debt/Total Capital (?) Interest Coverage (?) Payout Ratio (?) Effective Tax Rate (?) Total Capital1 (?) Efficiency Asset Turnover (?) Inventory Turnover (?) Days In Inventory (?) Receivables Turnover (?) Days Receivables Outstanding (?) Revenue/Employee2 (?) Operating Income/Employee2 (?) EBITDA/Employee2 (?) Profitability Gross Margin (?) Operating Margin (?) EBITDA Margin (?) EBIT Margin (?) Pretax Margin (?) Net Profit Margin (?) R&D Expense/Revenue (?) COGS/Revenue (?) SG&A Expense/Revenue (?) Management Effectiveness Return on Assets (?) Return on Equity (?) Valuation Free Cash Flow/Share2 (?) Operating Cash Flow/Share 2 31-Mar-2009 1.68 64.60 0.08% 19.2 4.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.60% 4.20% -2.28 5.115 44.77 0.83% 0.26% 69.57% 4.59% 11.74% 8.20% 0.61 4.276 74.56 26.50% 6.30% -2.01 182.47 0.59% 6.78% 9.44 -10.20 3.69 47. URL: http://www.16% 20.10 726.21 44.3 31-Mar-2006 1.05% 30.3 0.49% 69.25 30.05 1.59% 6.77 3.87% 27.10 -0.5 1.10% 3.0 31-Mar-2008 1.02 0.32% 8.64 12.085.40 1.67% 27.31% 32.565 1-ExchangeRate: INR to USD Period End Date 2-ExchangeRate: INR to USD Average for Period Page 86 .23% 7.74% 2.31 7.5 5.401.02 52.36% 26.25 864.51 28.40 107.55% 11.406 1.50% 11.27 0.73% 0.40% 19.528 29.26% 19.29 85.80% 28.804 22.53 111.0 1.97 45.35% 27.26 0.12% 36.02 5.019.29 597.30% 68.796.41% 9.25% 2.58% 28.39 334.143 32.565 44.61 180.03 0.34% 8.55% 8.90% 9.35% -4.000 17.74 1.77 63.87% -2.03% 0.34 68.17 5.873 1.043 1.41 1.52% 9.38% 9.tatamotors.465 43.29 5.50% 9.84 6.02 0.97% -3.21 50.2 31-Mar-2007 1.53% 68.55 1.11% 31.895 44.47% 3.62 44.18 7.16 0.42 0.70 0.5 0.33% 10.89% 30.40% 10.49 7.900. Tel: 91-22-66658282.45% 3.24 385.99 122.18% 69.465 -0.42 26.50% 0.267.1 1.72% 24.735 50.789 38.32 (?) 3.51 43.151 1.717 31.51 0.04 0.95 1.895 -3.81 0.78 50.97% 1.98% 30.494 33.45 7.754 7.87 -3.89 6.50 40.78% 12.598.12 40. India.12 -2.49% -34.67% 0.694 -17.61% 9.46 2.41 1.

59 4. Page 87 . 2010. Inc. Published by OneSource Information Services.54 6. All Rights Reserved.54 6.59 4.48 0.48 © 1983-2010 Reuters Research Inc.. September.OneSource One-Stop Reports for Tata Motors Limited Current Market Multiples Market Cap/Revenue (TTM) (?) Market Cap/EBIT (TTM) (?) Market Cap/EBITDA (TTM) (?) Enterprise Value/Revenue (TTM) (?) Enterprise Value/EBIT (TTM) (?) Enterprise Value/EBITDA (TTM) (?) 0.

110.32 20.65 11.17% Yearly Price History 2010 High Price Low Price Year End Price Monthly Price History Price Ending Date 27-Aug-10 30-Jul-10 30-Jun-10 28-May-10 30-Apr-10 31-Mar-10 26-Feb-10 29-Jan-10 31-Dec-09 30-Nov-09 30-Oct-09 30-Sep-09 31-Aug-09 Open 19. Published by OneSource Information Services.10 10.66 High 22.65 12.6 42.10 13.20 17.787 19.3 -76.85 14.08 $22.474 © 1983-2010 Reuters Research Inc.43 % Chg 51.481 20.79 16.5 7. India.84 20.62 12.58 16.tatamotors.71 16.453.722.63 16.46 16.144 27.46 11.50 Close 22.716 20.02 0.76 18.3 50.809.7 -76. 2010.10 EPS Price/Sales Dividend Rate Beta $1.93 20.2 >> View More Volume 33.00 16.99 13.11 15.86 % Chg 0.20 13.50 $0.00 18.06 15.313.4 2007 22.169 24.20 $9..34 Low 18.954 33.9 2008 20.32 11.047 40.46% 77.08 % Chg 31.450. Inc.231 32.76% 32.47 20.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.3 -12.96% Rel S&P 500% 20.82% 35.37 2 Year Weekly End Price & Volume Price % Change 16.68 20.38 13.80 16.25 18.20 15.808.32 1. All Rights Reserved.05 3.85 22.57 14.96 11.05 16.com/ Stock Report Stock Snapshot Traded: New York Stock Exchange: TTM As of 27-Aug-2010 Recent Price 52 Week High 52 Week Low Avg.931.29 18.0 2009 17.59 22.982 31.93 19.335 28.654.86 % Chg -13.649 21.93 13.1 31.19 16.39 14.41 18.38 12.39 3.227.45 % Chg -9. Page 88 .18 14.95 11.443.11 17.08% 30.50 4. Volume (mil) Market Value (mil) 4 Week 13 Week 52 Week Year to Date Source: Reuters Stock History US Dollars $22.32 11.91 17.72 16.32 18.47 10.09 17.849.500.86 14.93 $11.9 354.58 12.55 14.37% 83. URL: http://www.32 2.7 2006 21.9 278.804.7 -7. September.48 18. Tel: 91-22-66658282.977 26.08 18.30% 37.

0 70.748.3 66.082.2 180.9 33.661.2 519.7 3.0 654.962.0 -47.853.919.2 194.0 67.6 104.1 144.1 -39.168.057.588.189.3 33.22085 Deloitte Haskins & Sells Unqualified 31-Mar-2006 12 Months Reclassified Normal 31-Mar-2007 INR 44.015.0 16.7 - 16.1 403.3 609.867.6 3.4 313.0 448.4 194.8 10.3 5.459072 Deloitte Haskins & Sells Unqualified with Explanation 19.7 75.1 4.6 545.6 367.1 89.1 -205.0 -1.2 1.871. India.3 19.5 4.4 1.1 626.4 55.8 -13.6 7.4 13.tatamotors.3 6.2 141.1 431.066.Operating Investment Income .2 1.213701 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion Gross Revenue Excise Tax Receipts Revenue Interest Income.5 5.979.2 152.8 572.872.684.1 -13.0 378.7 70.0 819.0 819.4 -14. Non-Bank Other Revenue Other Revenue.5 1.6 - 18.0 31-Mar-2008 12 Months Reclassified Normal 31-Mar-2009 INR 40.6 - Page 89 .6 141.586.0 55.715.199.1 3.4 8.6 10.4 -790.4 -1.8 1.Operating Interest Expense .4 896.008.7 6.844.162.165.6 -642.8 233.431.1 545.1 55.0 159.2 107.5 -42.2 18.765.176.98813 Deloitte Haskins & Sells Unqualified with Explanation 15.4 105.5 -30.9 31-Mar-2009 12 Months Reclassified Normal 31-Mar-2010 INR 45.5 -158.2 189.1 5.8 15.5 3.430.1 1.2 -63.7 -0. Total Gross Profit Selling/General/Administrative Expense Labor & Related Expense Advertising Expense Total Selling/General/Administrative Expenses Research & Development Depreciation Depreciation/Amortization Interest Expense .Operating Interest/Investment Income Operating Interest Expense (Income) .6 -4.478.8 152.Net Operating Total Loss (Gain) on Sale of Assets Operating 10.3 13.0 -14. Tel: 91-22-66658282.7 1.552.948.9 381.376.9 681.6 1.7 7.7 3.4 705.4 66.8 790.Operating Interest Capitalized .166.1 285.156.5 15.9 -82.com/ Annual Income Statement Standardized Financials in: USD (mil) Except for share items (millions) and per share items (actual units) Financial Glossary 31-Mar-2010 Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.3 1.3 6.5 138.880.707.0 -70.278756 Deloitte Haskins & Sells Unqualified 31-Mar-2007 12 Months Reclassified Normal 31-Mar-2008 INR 45.511.1 534.Net Operating Interest Income .5 8.190.9 7.0 141.7 15.8 2. URL: http://www.171.586.724.1 4.7 17. Total Total Revenue Cost of Revenue Excise Taxes Payments Cost of Revenue.6 2.7 102.9 -3.1 8.0 19.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.4 -698.Net Operating Interest Expense (Income) .2 -12.6 -52.529.

2 211.Common Stock Interest Expense.0 73.8 390.24 0.8 538.94 0.0 2.5 766.7 8.7 141.8 1.2 482. Avail to Com.049.0 3.7 541.899.32 127.9 440.13 0.33 181.15 1.00 0.6 -463.4 554.25 63.8 390.Common Stock Primary Issue Dividends per Share .8 -32.7 16.3 487.4 25.8 -4.21 1.35 1.6 6.1 742.0 0.00 143.00 1.2 237.8 386.0 -536.14 67.6 481.1 420.0 0.2 742.2 -544.0 -544.0 -163.6 584.507.3 540.6 -63.8 1.00 2.9 530.8 16.15 - 389.5 -11.35 1.7 479.8 386. Supplemental Depreciation.3 531.0 -471.25 -1.8 -544.0 378.9 479.5 -5.9 195.2 -550.7 541.8 550.2 682.2 0.7 0.7 -544.0 144.03 1.5 -85.03 8.113.8 541.5 -1. Supplemental Total Special Items Normalized Income Before Tax Effect of Special Items on Income Taxes Inc Tax Ex Impact of Sp Items Normalized Income After Tax Normalized Inc.21 2. Basic Normalized EPS Diluted Normalized EPS Amort of Intangibles.4 -1. Net Other Operating Expenses.15 0.21 1.4 0.35 2.24 -1. Supplemental 72.1 593.24 0.3 604.95 0.6 159.9 1. Total Total Operating Expense Operating Income Income Before Tax Total Income Tax Income After Tax Minority Interest Equity In Affiliates Net Income Before Extraord Items Net Income Income Available to Common Excl Extraord Items Income Available to Common Incl Extraord Items Basic/Primary Weighted Average Shares Basic EPS Excl Extraord Items Basic/Primary EPS Incl Extraord Items Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excl Extraord Items Diluted EPS Incl Extraord Items Dividends per Share .2 766.24 0.7 -241.3 393.8 -8.15 1.3 0.24 0.8 70.2 88.293.05 165.9 390.5 -30.0 653.8 0.0 -241.2 538.8 527.32 0.6 479.0 -463.4 435.2 211.7 104.2 766.3 398.Common Stock Issue 2 Gross Dividends .1 1.0 194.1 1.9 1.4 17.8 -544.0 531.8 531.008.9 682.8 538.2 1.2 538.0 397.3 -967.8 440.0 -1.6 -16.0 9.2 1.130.0 -0. Supplemental Interest Capitalized.0 -85.28 112.4 390.5 390.3 -6.0 0.5 88.4 1.OneSource One-Stop Reports for Tata Motors Limited Other Unusual Expense (Income) Unusual Expense (Income) Other Operating Expense Other.24 -1.8 102.0 1.36 0.8 541.153.2 479.95 0.6 70.3 682.95 - Page 90 .3 144.9 0.0 1.8 367.94 0.7 325.2 -541.6 -163.2 416.3 487.0 -2.4 554.5 -1.2 830.2 211.9 479.2 538.7 152.9 1.4 8.24 1.9 195.5 4.0 -70.6 19.

8 7.7 105.6 -26.4 0.3 57.8 772.8 5.4 -9.5 91.6 4.1 32.4 91.1 -8.Total Deferred Tax .5 626. September.2 32.5 0.7 -8.Post-Retirement Actuarial Gains and Losses .963. Inc. Published by OneSource Information Services.7 5.105.0 117.Post-Retirement Service Cost .PostRetir.00% 11.1 5.0 2.75% 8.50% 7.0 -9.50% 8.0 57.2 586.144.2 91. 2010.5 6.0 10.5 50.6 6.3 7.1 4.6 2. Supplemental Research & Development Exp.5 65.00% 11.2 7.1 77.1 20.Domestic Total Plan Interest Cost Total Plan Service Cost Total Plan Expected Return 47. Page 91 .5 31.7 18.Domestic Service Cost .6 924.2 0.0 18.50% 8.1 6. Supplemental Normalized EBIT Normalized EBITDA Current Tax .4 -6.OneSource One-Stop Reports for Tata Motors Limited Rental Expenses Advertising Expense.6 779.7 6.0 7.9 10.4 3.Total Current Tax .2 91.8 -26.4 19.Domestic Actuarial Gains and Losses .8 157.Post-Retirement Expected Rate of Return .4 63..5 -8.1 20.9 727.9 9.2 3.Total Interest Cost .6 82.5 35.1 6.3 0.8 7.2 195.3 120.4 10.8 94.7 0.9 0.6 15.8 16.4 910.1 1.6 6.Domestic Prior Service Cost .8 31.3 -8.75% 8.8 8.8 1.3 1.0 1.0 211.7 0.9 107.0 9. Post-Retirement Plan Expense Defined Contribution Expense Domestic Total Pension Expense Discount Rate .75% 8.3 4.9 43.5 1.1 572.5 87.6 234.7 73.6 2.7 1.7 0.1 45.5 120.6 0.7 94.0 211.7 75. All Rights Reserved.0 -6.2 117.Domestic Domestic Pension Plan Expense Interest Cost .7 43.Total Deferred Tax .Total Other Tax Income Tax .5 - © 1983-2010 Reuters Research Inc.1 0.50% 8.00% 10.Domestic Discount Rate .2 107.4 144.4 -1.6 35.8 1.0 13.2 38.3 16.5 157.3 7.6 3.Domestic Expected Return on Assets .

0 1.5 147.8 1.0 701.567.1 2.1 -97.736.3 6.1 18.1 2.5 23.Net Operating Interest Income .7 161.0 0.303.724.6 52.9 193.1 -248.8 19.6 487.3 5. URL: http://www.1 162.7 138.7 471.1 280.3 147.081.0 39.491.7 1.3 5.6 127. Net Other Operating Expenses.4 59.737.0 172.464.1 -229.Operating Interest Expense .446.0 33.736.891.3 51.9 5.8 464.938.287.8 132.3 1.7 175.6 4.3 5.2 -146.2 162.3 -50.9 5.0 569.904.4 4.5 3. India.5 937.0 -25.8 527.1 -156.7 1.620.3 175.303.616613 6.7 87.6 14.3 2.9 190.6 -32.Operating Investment Income .4 59.661882 5.3 2.8 487.4 11.8 5.8 3.1 Page 92 .6 87.028.5 3. Total Total Revenue Cost of Revenue Cost of Revenue.5 2.0 -37.Operating Interest/Investment Income Operating Interest Expense (Income) .9 9.37947 4.904.045. Total Total Operating Expense Operating Income Income Before Tax Total Income Tax 21.5 -55.4 569.413.0 0.1 59.6 23.3 138.8 147.9 474.154.0 17.0 4.5 6.1 1.8 464.8 653.4 280.391.7 3.8 -236.436.9 30-Jun-2009 3 Months Reclassified Normal 30-Jun-2010 INR 48.6 190.1 -28.4 4.1 31-Mar-2010 3 Months Updated Normal 31-Mar-2010 INR 45.1 0.8 127.0 765.872473 3.com/ Interim Income Statement Standardized Financials in: USD (mil) Except for share items (millions) and per share items (actual units) Financial Glossary 30-Jun-2010 Period Length UpdateType/Date 3 Months Updated Normal 30-Jun-2010 INR 45.5 221.4 418.0 -237.1 3.9 46.8 64.386.582.4 89.2 418.0 142.2 -234.309.tatamotors.7 46.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.1 471.941758 6.8 39.8 498.538.439.3 -87.390.9 14.2 193.3 -18.0 1.4 111.1 -196.1 26.8 856.1 -8.969.2 Filed Currency Exchange Rate (Period Average) Gross Revenue Excise Tax Receipts Revenue Other Revenue Other Revenue.Net Operating Total Other Unusual Expense (Income) Unusual Expense (Income) Other Operating Expense Other.1 -42.7 149.2 0.830.6 143.317.5 5.3 11.6 147.348.105.088.2 13.2 3.7 172.9 50.7 3.6 30-Sep-2009 3 Months Updated Normal 30-Sep-2009 INR 48. Total Gross Profit Labor & Related Expense Total Selling/General/Administrative Expenses Research & Development Depreciation Depreciation/Amortization Interest Expense .0 1.8 498.4 888.2 -55. Tel: 91-22-66658282.737.0 2.4 4.7 221.9 -68.445.4 -259.1 142.081.0 161.8 31-Dec-2009 3 Months Updated Normal 31-Dec-2009 INR 46.7 474.

5 155.1 6.3 172.0 161.31 0.33 50.4 139.33 0.4 4.4 3.34 0.0 280.34 9.0 147.5 -67.3 -67.8 484.8 0.4 436.4 139.1 168.42 0.5 0.3 9.4 58.0 1. Page 93 .2 513.5 631.3 256.3 265.7 637.26 -0. Supplemental Total Special Items Normalized Income Before Tax Effect of Special Items on Income Taxes Inc Tax Ex Impact of Sp Items Normalized Income After Tax Normalized Inc.3 4.2 39..6 © 1983-2010 Reuters Research Inc.2 0.3 283.31 0.9 -0.410.54 18.54 436.8 7.9 720.5 -3.42 21.0 852.5 214.0 436.0 -55.34 187.26 19.9 -0.9 178.00 0. Avail to Com.48 0.54 1. Supplemental Normalized EBIT Normalized EBITDA 433.26 -0.4 289.7 0.54 1.0 0.0 480.0 11.07 0.4 -67.0 307.1 -67.4 0.0 436.00 0.4 -0.Common Stock Issue 2 Gross Dividends .1 494. Inc.4 70.59 0.6 156.3 436.3 11.06 17.3 0.1 -68. Basic Normalized EPS Diluted Normalized EPS Research & Development Exp.0 498.26 0.7 1.0 63.42 1.0 608.5 184.02 0.9 0.48 0.9 436.37 0.607.4 0.1 913.7 220. 2010.4 1.3 256.4 357.0 -67.2 1.0 -4.7 1.2 139.0 162.1 395.6 175.0 13.3 -5.26 0.5 0.5 4.53 139.00 0.1 0. September.1 23.9 -1.9 433.8 4.9 4.1 4.0 138.26 -0.03 0.5 -68. All Rights Reserved.5 4.6 0. Published by OneSource Information Services.9 139.03 4.3 -67.OneSource One-Stop Reports for Tata Motors Limited Income After Tax Minority Interest Equity In Affiliates Net Income Before Extraord Items Net Income Income Available to Common Excl Extraord Items Income Available to Common Incl Extraord Items Basic/Primary Weighted Average Shares Basic EPS Excl Extraord Items Basic/Primary EPS Incl Extraord Items Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excl Extraord Items Diluted EPS Incl Extraord Items Dividends per Share .0 1.8 0.9 484.53 0.0 484.9 0.7 0.02 0.0 64. Supplemental Depreciation.0 221.Common Stock Primary Issue Dividends per Share .0 142.9 484.00 0.2 517.4 6.1 193.3 -0.1 95.Common Stock Interest Expense.9 138.

0 733.1 728.123.2 4.4 513.270. Tel: 91-22-66658282.9 1.5 973.0 0.4 170.Affiliate Companies 270.7 872. Total Total Current Assets Buildings Land/Improvements Machinery/Equipment Construction in Progress Leases Other Property/Plant/Equipment Property/Plant/Equipment .6 1.9 14.7 821.0 0.6 2.9 -16.745.7 151.2 398.8 1.219.7 1.2 1.6 420.076.796.Net Goodwill.0 1.546.9 1.2 -11.349.1 2.4 1.2 5.3 6.086. Gross Provision for Doubtful Accounts Trade Accounts Receivable .6 -13.6 6.7 28.679.4 344.Finished Goods Inventories .6 381.3 557.895 Deloitte Haskins & Sells Unqualified with Explanation 1.538.0 -7.1 556.8 101.3 303.tatamotors.Current Other Current Assets Other Current Assets.1 262.0 2.446.Work In Progress Inventories .7 1.1 1.4 1.735 Deloitte Haskins & Sells Unqualified with Explanation 422.9 13.1 0.0 8.7 54.0 145.5 36.6 205.219. Net LT Investment .728.9 1.1 744.0 391.1 63.3 398.977.0 529.1 315.Net Other Receivables Total Receivables.3 377.765.8 -1.544.6 2.8 194.4 92.5 1.2 1.Raw Materials Inventories .368.7 286.3 1.1 311.3 218.4 3.5 1. Net Intangibles .292.481.9 238.9 -188.1 3.3 56. India.797.158.5 0.8 236.8 399.6 19.3 2.307.4 762.5 -36.473.8 109.539.7 316.6 3.3 594.3 2.019.6 -1.442.4 47.862.1 12.3 -1.510.2 367.Gross Accumulated Depreciation Property/Plant/Equipment .6 6.8 2.899.8 92.3 9.972. URL: http://www.6 35.0 293.171.com/ Annual Balance Sheet Standardized Financials in: USD (mil) Except for share items (millions) and per share items (actual units) Financial Glossary 31-Mar-2010 UpdateType/Date Updated Normal 31-Mar-2010 INR 44.0 - 265.8 4.5 1.8 570.357.6 265.749.7 6.7 -6. Net Inventories .6 102.9 470.1 14.Trade.465 Deloitte Haskins & Sells Unqualified 31-Mar-2006 Restated Normal 31-Mar-2007 INR 44.1 -4.5 - Page 94 .060.3 2.716.9 - 311.9 311.305.248.1 4.5 2.3 -372.206.5 76.3 222.1 81.2 10.611.Other Total Inventory Prepaid Expenses Restricted Cash .6 409.4 2.1 1.6 94.4 357.8 31-Mar-2009 Restated Normal 31-Mar-2010 INR 50.519.925.119.565 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate Auditor Auditor Opinion Cash Cash & Equivalents Short Term Investments Cash and Short Term Investments Accounts Receivable .879.Gross Accumulated Intangible Amortization Intangibles.2 312.2 141.6 2.6 134.12 Deloitte Haskins & Sells Unqualified 31-Mar-2007 Restated Normal 31-Mar-2008 INR 43.506.1 285.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.482.9 2.4 4.897.8 2.1 88.1 31-Mar-2008 Restated Normal 31-Mar-2009 INR 40.306.1 54.9 84.6 404.1 402.3 1.9 6.0 -58.610.

1 127.1 6.5 195.1 474.0 83.1 23.2 758. Suppl.729.401.2 96.573.230 292.293.629 79.349 234.395.8 9.5 686.0 101.1 3.1 3.7 540.9 10.2 1.8 17.2 1.Other Long Term Investments Deferred Charges Deferred Income Tax .121.5 6.146.6 3.9 242.8 456.848.9 19.1 84.999.8 1.9 397.LT Liability Deferred Income Tax Minority Interest Other Long Term Liabilities Other Liabilities.7 247.7 6.4 67. Total Total Liabilities Common Stock Common Stock Additional Paid-In Capital Retained Earnings (Accumulated Deficit) Unrealized Gain (Loss) Translation Adjustment Other Equity.820.9 10.1 270.Current Total Capital Leases.917.3 0.6 24.6 1.838.7 7.9 22.3 0.5 1.2 79.5 1.7 184.123.9 1.079.0 23.969 188.029.9 116.838.754.5 506.6 696.5 758.0 244.3 311.401.2 2.679.310 372.7 67.8 2. Deferred Revenue .2 401.Long Term Asset Other Long Term Assets Other Long Term Assets.1 1.3 101.5 398.5 494.9 85.887.6 2.1 1.7 395.0 0.3 12.810.0 398.0 1.942.5 14.8 144.1 395.2 187.9 39.8 64.4 0.0 19.4 -612.1 351.2 19.7 5.893.810.097 0.6 42.848.8 4.3 1.9 9.587.9 355.1 2.661.7 188.5 5.615.0 79.0 2.887.2 270.6 9.0 94.661.7 0.0 90.0 53.375.9 14.5 -431.2 191.8 351.Common Stock Issue 2 Total Common Shares Outstanding Treasury Shares .Common Stock Primary Issue Shares Outstanding .6 17.170.310 371.8 -431.684.9 8.642.8 47.4 6.0 7.3 397.3 0.4 4. Total Total Equity Total Liabilities & Shareholders’ Equity Shares Outstanding .420.2 83.1 96.4 41.8 127.5 1.OneSource One-Stop Reports for Tata Motors Limited LT Investments .072.7 1.0 6.3 395.3 662.8 283.3 242.9 19.9 3.331.5 1.1 283.638 391.703.0 6. Total Total Current Liabilities Long Term Debt Total Long Term Debt Total Debt Deferred Income Tax .0 188.079.7 4. Supplemental 359.2 514.1 4.1 1.1 5.0 57.4 7.6 42.122.3 395.403 90.9 664.7 79.7 4.491.6 6.0 4.827.575.4 64.3 151.9 0.606 221.167.1 24.1 1.0 2.9 1.9 2.6 61.650.600.7 2.242.7 835.0 29.1 3.2 9.3 443.9 501.8 1.4 21.679.2 76.2 Page 95 .666.439.4 1.5 4.7 671.0 13.2 570.9 151.7 85.7 88.0 94.3 1.893.3 449.5 -612.776.1 187.0 0.Common Stock Primary Issue Employees Number of Common Shareholders Accumulated Intangible Amort.8 7.2 88.1 0.9 771.1 125.2 562.7 8. Total Total Assets Accounts Payable Accrued Expenses Notes Payable/Short Term Debt Dividends Payable Customer Advances Income Taxes Payable Other Current Liabilities Other Current liabilities.3 1.5 664.8 133.8 2.

Post-Retirement Total Funded Status Discount Rate .0 2.0 7.4 -65.7 1. All Rights Reserved.1 7.00% 130.50% 0.0 -65.Domestic Total Plan Obligations Total Plan Assets 4.7 7.8 -28.2 14.1 7.Post-Retirement Expected Rate of Return .1 7.1 14.8 101.0 2.1 0.7 -14.7 1.7 69.0 0.0 139.OneSource One-Stop Reports for Tata Motors Limited Capital Lease Payments Due in Year 1 Capital Lease Payments Due in Year 2 Capital Lease Payments Due in Year 3 Capital Lease Payments Due in Year 4 Capital Lease Payments Due in Year 5 Capital Lease Payments Due in 2-3 Years Capital Lease Payments Due in 4-5 Years Cap.4 0.0 5.7 132.0 101.7 122.7 8.7 0.5 -16.5 76.7 0.1 0.7 4.0 0.0 0.00% -13.Domestic Funded Status .75% 8.00% 22.7 15.4 - © 1983-2010 Reuters Research Inc. Published by OneSource Information Services.4 1.3 14.9 1.75% 8. Due in Year 6 & Beyond Pension Obligation .2 17.1 -32.2 -13.7 -11.0 0.1 99.0 0.00% 156.5 2.1 7.7 -18.7 3. Supplemental Operating Lease Payments Due in Year 1 Operating Lease Payments Due in Year 2 Operating Lease Payments Due in Year 3 Operating Lease Payments Due in Year 4 Operating Lease Payments Due in Year 5 Operating Lease Pymts.1 -19.75% 8.4 122.8 1.1 -32.2 -17.1 -18.Post-Retirement Net Assets Recognized on Balance Sheet Debt Securities % .0 10.00% 24.8 1.8 -28.0 0.0 7.0 135.7 124..3 99. Pymts.4 2.3 0.7 0.9 0.2 43.2 4.9 3.4 -32.0 4.8 0.8 2.0 118.5 -14. Page 96 .6 -32.8 3.0 -15.5 -16.0 14.Domestic Other Investments % .0 4.Domestic Accrued Liabilities .4 3.1 0.Domestic Accrued Liabilities .8 0.0 0.4 -32.7 3.0 0.8 1.0 0.Domestic Discount Rate .50% 8.4 1.9 0.4 1. September.8 3.8 1.2 -17. Lse. 2010.3 78.7 0.6 -32.0 1.5 6.3 0.0 0.Domestic Prepaid Benefits .Domestic Post-Retirement Obligation Plan Assets .1 7.1 14. Due in 4-5 Years Oper.4 1.3 6.2 16. Inc. Due in Year 6 & Beyond Total Operating Leases.00% 154.9 1.0 0.50% -15.2 13.0 11.Domestic Funded Status .9 1.0 113. Due in 2-3 Years Operating Lease Pymts.0 0.0 41.0 2.0 0.00% 31.1 -19. Lease Pymts.2 19.0 0.00% -11.0 7.3 2.9 1.7 0.3 1.50% 8.9 0.0 0.7 0.6 124.

0 193.8 665.8 3.7 32.3 441.0 -1.8 183.3 151.1 -170.3 -4.8 -196.6 -206.1 -2.5 -118.835.0 724.1 544.066.9 -532.2 371.785.5 -30.8 -17.8 -262.785.8 -151.2 284.7 -238.9 151.9 209.2 43.6 -532.5 -29.389.3 -618.3 -65.168.9 198.6 -1.1 -330.4 -1.3 604.6 183.1 818.168.3 141.6 893.3 -249.8 -284.8 544.1 -39.7 -18.0 11.2 757.1 0.1 77.2 - 390.5 109.3 -170.8 141.378.5 -91.6 -151.7 -8.Common Total Cash Dividends Paid Sale/Issuance of Common Common Stock.459072 Deloitte Haskins & Sells Unqualified with Explanation 541.4 206. Net 538.4 -103.6 40.8 -16.1 -610.2 241.2 1.3 222.7 -15.3 -151.6 -151.4 31-Mar-2009 12 Months Restated Normal 31-Mar-2010 INR 45.9 316.213701 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion Net Income/Starting Line Depreciation Depreciation/Depletion Deferred Taxes Unusual Items Equity in Net Earnings (Loss) Other Non-Cash Items Non-Cash Items Accounts Receivable Inventories Other Assets Accounts Payable Other Operating Cash Flow Changes in Working Capital Cash from Operating Activities Purchase of Fixed Assets Capital Expenditures Acquisition of Business Sale of Fixed Assets Sale/Maturity of Investment Investment.4 351.3 -649.2 193.278756 Deloitte Haskins & Sells Unqualified 31-Mar-2007 12 Months Restated Normal 31-Mar-2008 INR 45.311.4 -127.7 263.7 150.0 9.0 -165.8 -103.com/ Annual Cash Flows Standardized Financials in: USD (mil) Except for share items (millions) and per share items (actual units) Financial Glossary 31-Mar-2010 Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.6 24.5 0.7 -642.3 -12.6 -101.587.0 351.956. Net Purchase of Investments Other Investing Cash Flow Other Investing Cash Flow Items.2 0.0 -249.3 -9.6 -515.2 -65.8 4.1 -1.043. Tel: 91-22-66658282.9 -73.5 -2.2 11.0 -38.2 -103.7 148.8 160.091.4 -2.8 -1.8 -186.311.0 479.3 32.6 -610.1 -267.9 341.3 182.7 818.0 1.1 1.0 -112. Total Cash from Investing Activities Other Financing Cash Flow Financing Cash Flow Items Cash Dividends Paid .tatamotors.3 280.3 -162.9 -618.8 -1.6 31-Mar-2008 12 Months Updated Normal 31-Mar-2008 INR 40.98813 Deloitte Haskins & Sells Unqualified with Explanation -544. URL: http://www.8 -1.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.6 77.1 16.1 26.0 0.8 82.3 -118.8 280.1 0.024.0 -73.4 -101.6 -193.1 -284.22085 Deloitte Haskins & Sells Unqualified 31-Mar-2006 12 Months Reclassified Normal 31-Mar-2007 INR 44.2 -1.2 -127.1 -164.0 22.8 -1.6 893. India.340.923.5 -4.5 76.5 -1.5 - Page 97 .7 457.6 -532.0 316.

4 -1.3 -24.4 931.051.Ending Balance Cash Interest Paid Cash Taxes Paid 351.4 42.3 754.7 -141.792.7 1.7 485. All Rights Reserved.2 0. Page 98 .3 715.4 -725.2 3.1 1.737.091.8 529.8 © 1983-2010 Reuters Research Inc. September.0 -141.2 306.0 893.6 -160.3 869.4 313.3 -0.653. Published by OneSource Information Services.1 2.1 102.7 -1.5 905.036.6 6.9 519.OneSource One-Stop Reports for Tata Motors Limited Issuance (Retirement) of Stock.9 675.6 3.5 -4.Beginning Balance Net Cash .9 190.862.0 660.4 874.5 -179.2 260.6 947.6 125.6 165. Net Short Term Debt.0 282.8 22.1 517.1 -0.4 162. 2010.2 1.7 -51.8 474.6 255.6 73. Net Issuance (Retirement) of Debt.375.529.9 151.9 601.456.595.4 -6.845.8 -216. Inc..7 20.1 501.8 1.6 286.6 259.6 915.7 32.8 617. Net Cash from Financing Activities Foreign Exchange Effects Net Change in Cash Net Cash .6 4.0 130. Net Long Term Debt Issued Long Term Debt Reduction Long Term Debt.

4 -1.213701 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion Gross Sales Excise Duty Income on securitisation / sale of recei Interest income on Loan contracts (net) Miscellaneous income Profit on sale of current investments Profit on sale of controlling stake in a Profit on sale of other long term invest Dividend & Other Income Total Revenue Stock in Trade & WIP Purchase of Product for Sale Etc Consumption of Raw Material and Compon.3 6.2 222.1 896.844.3 48.5 -3. India. Tel: 91-22-66658282.8 403.0 8.8 3.2 120. URL: http://www.1 -85.3 18.4 307.8 19.190.6 172.476.7 0.6 207.165.9 0.4 212.7 105.2 17.4 1.765.799.5 5.22085 Deloitte Haskins & Sells Unqualified 31-Mar-2006 12 Months Reclassified Normal 31-Mar-2007 INR 44.459072 Deloitte Haskins & Sells Unqualified with Explanation 19.1 5.1 11.1 223.3 723.1 575.166.2 1.0 2. Processing Charges Salaries.4 8.8 123.0 121.2 1.2 534.7 16.586.293.7 1.5 84.6 31-Mar-2008 12 Months Reclassified Normal 31-Mar-2009 INR 40.724.1 66.400.4 -790.9 231.5 1.5 149.753.9 16.3 1.6 -642.com/ Annual Income Statement As Reported Financials in: USD (mil) Except for share items (millions) and per share items (actual units) 31-Mar-2010 Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.1 -140.5 185.008.524.8 6.369.278756 Deloitte Haskins & Sells Unqualified 31-Mar-2007 12 Months Reclassified Normal 31-Mar-2008 INR 45.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.1 -90.015.4 131.4 -698.7 4.7 33.2 Page 99 .4 8.tatamotors.4 672.2 -12.98813 Deloitte Haskins & Sells Unqualified with Explanation 15.008.162.4 8.5 17.3 55.517.113.0 1.0 -163.7 916.9 146.431.7 -0.1 145.8 166.1 -54. Wages Stores.0 31-Mar-2009 12 Months Reclassified Normal 31-Mar-2010 INR 45.6 18.8 0.7 106.0 -1.586.7 -241.3 626.0 -967.5 14.2 9.7 75.7 755.4 -242.9 422.8 572.9 7.0 155. spare parts and tools consumed Power and fuel Excise Duty on Stock in Trade Publicity General & Admin Expenses Exchange (Gain) / Loss Loss on sale of assets Loss on Assets Scrapped / Written off Other Expenses Selling & General Expenses Expenditure Transfer to Capital & Other Product Development Expenses 10.189.6 15.2 681.2 -1.919.6 0.3 7.5 654.872.

03 8. of Miscellaneous Exp. Adjustment of Misc.8 -544.9 479.2 1.95 0.24 -1.8 390.0 9.24 1.14 67.2 -541.5 390.28 112.8 -544.0 70.2 211.0 16.7 -544.32 127.130.21 1.Common Stock Normalized Income Before Taxes Inc Tax Ex Impact of Sp Items Normalized Income After Taxes Normalized Inc.4 8.2 152.24 0.9 141.95 0.0 -42.0 6.0 830.9 -0.15 1.7 -14.153. Basic Normalized EPS Diluted Normalized EPS 819.507.24 0.1 0.8 72.7 -0.2 416.0 -1.0 448.8 682.15 1.9 1.OneSource One-Stop Reports for Tata Motors Limited Depreciation Interest Expense Capitalized Interest Interest Received Discount Charges.2 211.5 141.9 390.4 0.0 4.3 144.4 1.8 386. Items Net Income Income Available to Com Excl ExtraOrd Income Available to Com Incl ExtraOrd Basic Weighted Average Shares Basic EPS Excluding ExtraOrdinary Items Basic EPS Including ExtraOrdinary Item Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excluding ExtraOrd Items Diluted EPS Including ExtraOrd Items DPS-Equity Shares DPS-A Ordinary Shares Gross Dividends .6 766.94 0.7 541.9 1.2 538.9 195.1 67.35 1.0 -536.8 538.21 1.03 1. Expenditure in Sub.24 -1.3 487. Exp.35 1.94 0.2 538.5 -1.6 -4.32 0.1 1.7 -13.1 431.4 554.1 104.0 0.9 195.2 -550.1 1.8 -32.8 541.05 440.2 538.049.24 397.8 531.3 682.00 0.2 107.00 143.5 -11.8 1.24 0.3 393.3 604.9 1.2 189.0 -544.1 420.8 541.21 2.36 0.35 2.5 -1.4 237.15 0.7 545.6 390.8 527.2 482.1 0.8 550.25 398.8 440.9 479.5 766.5 -5.8 1.0 1.7 479.4 17.4 554.9 530.2 -544.8 194.3 487.6 -463.0 70.25 -1.0 -39.8 538. net Amort.95 Page 100 .1 742.0 0.4 0.8 390. National Exchange Loss/Gain on Revaluati Others Provision for Investment Separation Cost Total Operating Expense Net Income Before Taxes Provision for Income Taxes Net Income After Taxes Minority Interest Share of Associate Amort.4 0.2 0.5 -30.3 144.0 -47.4 -17.899.6 531.4 435.8 0. in Subsidiaries Net Income Before Extra.5 19.8 16.6 479.00 1.13 0.7 541.00 2.0 2.0 73.8 -471.1 0. of Misc.9 8.2 211.0 -70.6 -52.15 389.8 386. in Subs.4 73.6 -16.3 -6.1 593.6 584.2 -63.2 479. Avail to Com.3 540.33 181.

Post-Retirement Actuarial Gain/Loss .7 6.Post Ret.OneSource One-Stop Reports for Tata Motors Limited Research & Development Exp Depreciation and Amortization Amortization Interest Expense Interest Capitalized Advertsing Expense Rental Expense Current Tax .9 0.0 1.00% 8. All Rights Reserved.5 -8.0 13.0 211.2 141.6 10.2 0.4 63.9 6.5 157.2 32.9 9.Gratuity Salary Increase Rate .Superannuation Interest Cost .0 6.3 15.Gratuity Discount Rate .6 -8.4 3.5 120.Total Fringe Benefit Tax Income Tax .2 165.5 87.1 0.3 4.0 -0.2 7. Return on Assets .9 378.7 43. September.2 0.75% 8.50% 75.0 211.3 -1.Superannuation Expected Return on Assets Superannuati Actuarial Gain/Loss . Page 101 .6 572.BKY/PSY Discount Rate .8 0.0 653.5 65.75% 8.8 8.0 70.5 -30.50% 4.5 91.2 107.4 0.2 38.8 94.0 -70.1 10.1 117.1 20.4 0.7 9.4 194.3 19.Total Current Service Cost .. 2010.4 6.BKY/PSY Domestic Pension Plan Expense Current Service Cost .5 0.Total Deferred Tax .0 159.1 20.7 1.BKY/PSY Salary Increase Rate .4 144.5 120.8 152.3 367.Gratuity Interest Cost .00% 8. 105.8 6.BKY/PSY Interest Cost . Inc.00% 8.2 102.75% 8.7 18. Post-Retirement Plan Expense Provident Fund Expenses Total Pension Expense Discount Rate .6 -26.8 7.2 1.8 63.1 0.1 5. Published by OneSource Information Services.9 -1.Gratuity Expected Rate of Return .5 31.6 2.Post Ret.3 2.6 -63.7 1.5 50.1 32.1 6.5 0.00% 8.1 4.3 157.00% 8.Gratuity Prior Service Cost Actuarial Gain/Loss . Expected Rate of Return .5 - © 1983-2010 Reuters Research Inc.6 1.2 91.50% 16.2 91.2 195.8 -26.Total Deferred Tax .6 4.00% 4.1 -9.2 3.6 0.Gratuity Current Service Cost .7 107.7 47.6 -5.PostRetirement Interest Cost .00% 8.8 31.BKY/PSY Actuarial Gain/Loss .0 10.Superannuation Current Service Cost .7 5.Superann.50% 18.3 0.6 35.4 91.6 1.6 481.00% 8.3 3.7 -1.8 -4.7 3.7 57.Gratuity Exp.2 1.5 35.Superann. Discount Rate .50% 16.2 117.0 57.6 82.Total Current Tax .0 77.1 94.0 2.50% 8.0 0.1 45.7 73.0 626.7 43.

7 3.0 5.8 -236.2 172.1 4.8 147.088.3 4.3 1.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.0 553.8 193.4 -259.3 -18.1 464. Items Net Income Income Available to Com Excl ExtraOrd Income Available to Com Incl ExtraOrd 436.0 5.661882 5.386.2 13.941758 6.8 138.491.4 4.897.37947 4.256.9 6.439.1 -156. Tel: 91-22-66658282.6 5.1 0.9 1.1 418.0 138.201.5 -67.1 -67.8 161.8 471. Wages Depreciation Product Development Expenses Other Expenditure Amount Capitalised Gross interest and discounting charges Interest income/interest capitalised Exchange Gain Other Exceptional Item Total Operating Expense Net Income Before Taxes Provision for Income Taxes Net Income After Taxes Minority Interest Share of Associate Net Income Before Extra.0 65.3 9.3 0.0 765.4 1.6 52.5 -55.6 -32. India.1 -196.3 Filed Currency Exchange Rate (Period Average) Gross Sales Excise Duty Other Operating Income Other Income Total Revenue Stock in Trade & WIP Consumption of Raw Materials & Component Purchase of Products for Sale Salaries. URL: http://www.1 480.7 888.7 3.7 -72.3 230.0 436.5 5.391.445.7 11.464.1 -68.9 484.8 498.436.5 4.9 139.4 139.1 -8.1 -229.2 -146.0 31-Mar-2010 3 Months Updated Normal 31-Mar-2010 INR 45.4 -295.7 3.5 4.466.3 -83.6 280.938.9 1.3 39.com/ Interim Income Statement As Reported Financials in: USD (mil) Except for share items (millions) and per share items (actual units) 30-Jun-2010 Period Length UpdateType/Date 3 Months Updated Normal 30-Jun-2010 INR 45.836.3 -67.5 1.3 39.8 405.4 43.105.5 3.4 0.2 -234.969.4 436.3 -5.8 484.0 388.5 -3.872473 3.446.0 -37.4 937.0 0.5 64.0 162.5 30-Jun-2009 3 Months Reclassified Normal 30-Jun-2010 INR 48.1 -248.1 -97.0 33.0 569.1 4.0 484.tatamotors.0 436.0 5.287.9 433.7 540.0 -237.5 49.9 -1.582.1 26.0 3.4 139.7 474.616613 6.5 470.0 142.4 2.3 -67.5 13.1 221.3 17.4 30-Sep-2009 3 Months Updated Normal 30-Sep-2009 INR 48.8 -0.5 22.3 7.9 175.1 -42.9 4.1 59.1 18.620.4 4.4 59.538.6 84.9 487.7 23.9 9.2 50.2 139.0 -25.4 89.9 31-Dec-2009 3 Months Updated Normal 31-Dec-2009 INR 46.9 484.3 0.724.4 3.9 190.3 Page 102 .9 -68.8 64.7 19.7 21.

.3 0.42 0.00 0.33 193.00 0.26 0.2 50.33 0.53 139. September.34 187.31 0.9 162.8 0.6 0.54 436.0 498.4 95.6 256.8 64.02 0.26 -0.4 -67.9 0.5 0.1 18.26 172.31 0.2 1.42 221.7 21.Common Stock Normalized Income Before Taxes Inc Tax Ex Impact of Sp Items Normalized Income After Taxes Normalized Inc.03 0.4 142.48 0.03 4.42 1.7 147.0 -67.5 161.7 1.9 433. Inc.0 214.410.6 156.4 0.8 63.3 © 1983-2010 Reuters Research Inc.1 494.53 0.OneSource One-Stop Reports for Tata Motors Limited Basic Weighted Average Shares Basic EPS Excluding ExtraOrdinary Items Basic EPS Including ExtraOrdinary Item Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excluding ExtraOrd Items Diluted EPS Including ExtraOrd Items DPS-Equity Shares DPS-A Ordinary Shares Gross Dividends . Published by OneSource Information Services.1 -68.4 289.26 0.5 184.607.0 178. 2010.0 1.0 608. Avail to Com.0 -55.8 7.0 11.5 0.3 -0.06 175.0 1.9 -0. All Rights Reserved.26 -0. Page 103 .1 0.00 0.48 0.02 0.9 436.3 17.3 256.1 265.5 155.9 -0.54 280.07 0.34 9.54 1.1 58.9 0.34 0.0 1.59 0.2 513.2 13.37 0.0 307.0 138.54 1.26 -0.00 0.0 70. Basic Normalized EPS Diluted Normalized EPS Depreciation and Amortization Research & Development Exp Interest 283.7 19.2 517.

1 1.2 43.895 Deloitte Haskins & Sells Unqualified with Explanation 0.1 257.6 0.6 205.565 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate Auditor Auditor Opinion Interest Accrued Stores & Spare Parts Consumable Tools Raw Materials Work in Progress Stock in Trade Goods in Transit Sundry Debtors.0 1.1 2.1 34.492.1 420.8 93.5 54.8 34.8 92.442.796.8 - Page 104 .9 397.0 109.4 1.9 30.735 Deloitte Haskins & Sells Unqualified with Explanation 0.9 1.8 2.6 31-Mar-2009 Restated Normal 31-Mar-2010 INR 50.0 262.4 34.307.0 10.4 47.1 25.605.0 0.5 311.349.3 1.1 6.0 306.9 366.9 8.2 -11.4 6.1 36.8 1.5 38.4 270.6 20.954.3 14.1 1.3 34.357.370.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.6 25.9 1.3 529. India.6 1.8 11.3 404.6 9.0 77.5 23.tatamotors.9 285.0 265.3 31-Mar-2008 Restated Normal 31-Mar-2009 INR 40.517.9 211.519.com/ Annual Balance Sheet As Reported Financials in: USD (mil) Except for share items (millions) and per share items (actual units) 31-Mar-2010 UpdateType/Date Updated Normal 31-Mar-2010 INR 44.6 38.6 2.1 8.7 32.7 315.6 -13.7 8.5 -36.2 332.635.12 Deloitte Haskins & Sells Unqualified 31-Mar-2007 Restated Normal 31-Mar-2008 INR 43.0 10.2 203.1 1.6 35.8 1.481.8 3.2 422.3 311.831.2 42.5 34.0 56.446.6 46.6 925.2 1.473.9 -16.4 126.0 -58.8 307.1 4.1 5.8 2.3 33.5 0.1 340.8 570. URL: http://www.506.3 190.7 8.9 4.1 17.5 8.4 34. Gross Provision for Doutful Debts Others Cash/Bank Balances Cash in Hand & in Current Account Short term deposits with Banks Restricted deposits Margin Money / Cash Collateral with Bank Deposit with Governmet.3 2.7 0.0 1.4 36.6 1.752.3 381.0 163. Public Bodies Deposit Given as Collateral Security MAT Credit Entitlement Prepaid Expenses Loans/Advances Total Current Assets Land Railway Sidings Water System Leased Plant Leased Premises Leasehold Land Buildings Plant/Machinery Furniture/Fixtures Technical Know-how Vehicles/Transport Assets Taken on Lease 0.745.465 Deloitte Haskins & Sells Unqualified 31-Mar-2006 Restated Normal 31-Mar-2007 INR 44.3 14.7 279.1 0.1 6.8 194.5 9.5 49.9 28.1 397.305.1 204.8 222. Tel: 91-22-66658282.0 12.1 361.7 286.8 24.4 32.0 153.2 84.0 9.3 7.309.2 76.

0 0.0 1.2 4.7 90.7 53.389.5 0.072.4 0.3 9.1 664.8 7.6 75.2 3.7 -1.5 79.0 19.642.0 0.6 17.9 28.4 144.5 0.5 36.6 141.395.8 560.810.3 192.7 81.0 2.1 184.5 94.491.8 -17.7 92.7 5.495.2 -287.5 21.3 2.293.2 88.9 270.8 562.9 0.0 79.0 17.4 0.7 -372.3 9.5 602.754.2 151.4 187.4 0.8 5.6 2.1 3.6 6.2 96.248.0 0.1 733.0 6.5 91.9 83.703.6 1.0 14.0 308.9 6.3 0.6 -188.026.0 15.5 662.6 0.893.1 2.029.4 212.3 67.1 383.0 102.1 1.3 6.3 32.661.1 1.9 39.797.2 83.292.1 -6.5 0.096.401.7 61.6 -1.4 4.7 1.2 1.2 0.0 13.0 19.9 190.600.2 435.0 -383.9 51.9 0.8 288.7 2.368.5 197.2 79.3 1.0 102.9 -7.0 686.7 445.0 62.2 0.8 1.8 0.8 47.2 0.9 188.7 1.6 94.1 125.9 116.0 2.1 762.8 127.0 304.4 134.110.848.7 0.1 2.1 569.482.0 594.OneSource One-Stop Reports for Tata Motors Limited Assets Given on Lease Depreciation Product Development Costs Product Development Costs Trade marks and brands Developed Technologies Software Accumulated amortization Work in Progress Goodwill Investment in Associate Investments Deferred Taxes Foreign currency monetary item Miscellaneous Expenditure Total Assets Acceptances Sundry Creditors Liabilities for buyback arrangement Advance Payments Liability towards premium on redemption Interest Accrued Investor Fund Amount Due from Customer Contract Work Proposed Dividends Provision for tax on dividends Provision for Income tax Provision for retirement and other emplo Provisions Total Current Liabilities Secured Loans Unsecured Loans Total Long Term Debt Deferred Tax Minority Interest Foreign Currenty Monetary Items Total Liabilities Capital Securities Premium Capital Redemption Reserve Capital Reserve on Consolidation Debenture Redemption Reserve Amalgamation Reserve Special Reserve Revaluation Reserve Hedging Reserve Pension reserve 88.0 1.7 0.7 8.701.477.3 25.7 85.0 22.3 -1.7 1.3 4.573.5 0.0 101.6 7.9 - Page 105 .4 758.7 306.0 13.076.9 395.7 388.9 410.2 102.4 7.2 2.0 76.2 133.9 245.0 0.1 203.8 1.5 4.7 1.679.2 2.5 94.4 66.0 6.9 835.0 242.0 15.4 3.3 2.121.5 17.498.8 191.246.7 6.7 653.887.6 1.1 153.146.0 63.8 351.1 4.6 242.4 41.684.0 57.5 0.6 42.5 185.6 91.057.7 5.9 1.331.0 101.742.2 118.1 1.079.6 76.5 283.650.3 0.0 36.192.510.086.942.4 218.6 3.8 359.5 1.2 79.838.0 4.

2 113.1 -32.1 3.Post-Ret.7 2.6 -32.2 2.7 23.3 29.Gratuity Net Assets Recognized on Balance 1.6 -32.8 0.848.079.6 43.BKY/PSY Salary Increase Rate . Discount Rate .9 79.827.2 17.7 135. Funded Status .5 16.3 8.75% 8.0 439.1 25.0 12.5 0.0 15.9 1.7 11.50% -9.4 64.0 -15.8 2.969 4.638 391.3 3.4 -32.5 -226.2 314.2 -9.BKY/PSY PV of Funded Obligations .5 5.020.3 0.Gratuity Expected Rate of Return -Gratuity Salary Increase Rate .6 -17.00% 8.9 19.75% 8.3 2.Superann.7 397.1 0.Current Accumulated Intangible Amortization Full-Time Employees Number of Common Shareholders Capital Leases Maturing within 1 Year Capital Leases Maturing within 5 Years Capital Leases .8 7.7 803.1 -19.403 0.00% 8.3 395.4 -65.4 Page 106 .4 5.50% -11.629 0.7 24.2 570.7 372.4 16.349 234.5 14.Gratuity Discount Rate .50% 4.BKY/PSY Discount Rate . FV of Plan Assets .1 41.1 28.018.3 7.7 -11.5 -16.0 -431.2 1.3 83. Asset .00% 8.Post-Retirement Total Funded Status Discount Rate .3 6.00% 8. Liability .8 4.Superann.4 22.5 13.0 22.7 8.8 1.1 0.8 -28.1 19. Provision for Retirement & Other Benefit Liability .Remaining Maturities Total Capital Leases Operating Leases Maturing within 1 Year Operating Leases Maturing within 5 Years Total Operating Leases PV of Funded Obligations .8 -16.Gatuity PV of Funded Obligations .170.7 7.5 19.3 10.0 23.9 397.0 398.0 90.2 -13.3 10.6 0.1 0.9 8.OneSource One-Stop Reports for Tata Motors Limited General Reserve Earned Surplus Reserve Reserves on Research & HRD Restricted Reserve Translation Reserve Proft & Loss Account Total Equity Total Liabilities & Shareholders' Equity S/O-Equity Shares S/O-A Ordinary Shares Total Common Shares Outstanding T/S-Equity Shares Deferred Revenue .8 4.776.167.7 83.2 1.1 83.75% 8.9 220.50% -13.375.8 459.BKY/PSY Funded Status . Expected Rate of Return .9 14.2 9.4 -19. Funded Status .2 188.3 398.5 506.Superann.4 1.BKY/PSY Liability .2 514.4 139.3 0.00% 4.50% -15.1 28.00% 8.230 292.8 1.661.4 24.310 371.5 0.1 0.5 -306.810. PV of Funded Obligations .Post Ret.2 -17.2 122.2 0.Superann.2 7.6 395.3 15.4 -32.Gatuity FV of Plan Assets .5 -14.Gratuity Liability .401.5 449.Gatuity Funded Status .7 0.0 0.00% 8.097 4.0 67.310 4.Superann.1 -612.1 3.2 101.0 9.1 -32.5 -9.0 5.2 -9.8 -28.7 395.1 0.2 124.Superann.8 64.5 -65.7 1.5 6.1 -14.606 221.5 19.Post Ret.1 699.9 0.00% 8.

00% 27.OneSource One-Stop Reports for Tata Motors Limited Sheet Debt Securities % . All Rights Reserved. Inc.00% 78.00% 69.00% 53.Gratuity Balances with Banks %-Gratuity Debt Securities % .Superann.00% - © 1983-2010 Reuters Research Inc. Published by OneSource Information Services.00% 47.00% 73.. 2010.00% 31.Superann. 76.00% 24.00% 22. September. Page 107 . Balances with Banks %.

5 0.9 151.2 -125.7 -151.3 -91.4 31-Mar-2008 12 Months Updated Normal 31-Mar-2008 INR 40.9 485.4 0.8 -55.8 6.459072 Deloitte Haskins & Sells Unqualified with Explanation 541.7 1.1 0.3 -1.1 3.4 -0.0 11.0 -13.7 0. URL: http://www.3 -869.1 15.3 0.2 -2.6 0.9 -146.4 16.3 -112.7 -0.0 -262.3 -0.0 0.1 -151.7 14.3 -38.9 -174.2 193.0 -4.com/ Annual Cash Flows As Reported Financials in: USD (mil) Except for share items (millions) and per share items (actual units) 31-Mar-2010 Period Length UpdateType/Date 12 Months Updated Normal 31-Mar-2010 INR 47.2 1.0 8.2 -18.3 0. Loss on Liquidation of Subsidiary Amortization Miscellaneous Expenditure Employee Separation Employee Separation Cost of subsidiary c Trade/Other Receivable Inventories Trade/Other Payables Vehicle Loans & Hire Purchase Receivable Direct Taxes Paid.9 0.2 65.2 32.3 142.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.278756 Deloitte Haskins & Sells Unqualified 31-Mar-2007 12 Months Restated Normal 31-Mar-2008 INR 45.0 0.0 402.1 -109.7 818.8 544.0 0.1 -18.0 -1.2 -222.3 0.9 -6.8 -15.98813 Deloitte Haskins & Sells Unqualified with Explanation -544.4 195.6 1. Tel: 91-22-66658282.1 -165.0 0.8 - 390.0 -8.3 -11.2 -0.0 -403.9 5.0 -16.2 -0.4 0.1 153.3 -1.0 0.5 724.7 31-Mar-2009 12 Months Restated Normal 31-Mar-2010 INR 45.4 211.3 280.6 150.9 - 479.2 0.9 -33.1 40.0 -156.8 211.0 0. Equipment Gain on Buy Back of FCCN & CARS Share of Associate Minority Interest Income Tax Wealth Tax Deferred Tax Interest/Dividend Unrealized Exchange Gain Profit on Issue of Shares by a Subs.8 -9. India.7 64.4 -9.0 -17.4 -30.0 0.tatamotors.2 278.2 0.22085 Deloitte Haskins & Sells Unqualified 31-Mar-2006 12 Months Reclassified Normal 31-Mar-2007 INR 44.4 0.6 77.0 -130.0 112.7 -649.3 -3.213701 Deloitte Haskins & Sells Unqualified Filed Currency Exchange Rate (Period Average) Auditor Auditor Opinion Profit after Tax Depreciation Gain on Asset Sale Relocation Expenditure Profit on Sale of Control Stake in Subs Gain on Sale of Investment Reversal of Provision for Diminuition Impairment of Goodwill Provision for Inter-Corporate Deposits Gain .5 -1.8 - Page 108 .5 73. Net Cash & Bank Balance Taken on Acquisiti 538.835.5 7.7 16.0 0.7 284.9 0.2 1.7 -0.0 -173.8 141.1 32.8 -259.Financing of Const.0 -915.

5 -2.0 -11.Others Proceeds from Sale of stake in Telcon Decrease in Investments in retained inte Decrease in Investments in retained inte Sale of Investments in associate company Sale/Redemption of InvestmentsOther Deposits of Margin Money / Cash Collater Realisation of Margin Money / Cash Colla Fixed deposits with scheduled banks made Fixed deposits with scheduled banks real Increase in restricted deposits with sch Interest Received Acquisition of Stake in Joint Venture Proc.4 -2.0 182.7 -196.0 -0.7 -15.9 -30.2 40.091.340.7 0.5 -86.1 -193.2 183.0 0.5 4.0 0.0 0.8 3.4 0.8 46.168.1 244.0 0.5 0.0 489.9 0.0 -129.7 0.0 -0.3 9.0 0.7 0.5 -1.1 16.3 -206.2 6.6 60.0 202.0 1.6 20.6 -4.0 11.8 0.0 0.8 22.0 -532.9 35.OneSource One-Stop Reports for Tata Motors Limited Cash and Bank balances on sale of contro Acquisition Cash from Amalgamation Cash from Operating Activities Capital Expenditures Sale of Fixed Assets Purchase of Investments in Associates Sale/Purchase of Mutual Fund Investment in JLR Business Investment in Subsidiary Companies Investments .1 7.0 9.6 1.1 -12.1 0.0 82.7 -1.5 1. Equ.Con.1 22.0 0. from Transfer Activity .4 -109.587.5 20.3 10.6 Page 109 .0 17.2 -1.1 -6.0 0.1 -284.389.0 -104.9 -2.0 0.1 2.5 -23.0 441.8 0.7 3.1 6.0 0.4 -297.0 5.3 10.0 17.4 -1.6 -1.0 -103.3 0.7 -0.8 220.1 6.0 0.0 -4.0 4.0 0.3 -7.311.2 100.6 -610.1 44.956.5 50.5 -1.0 0. Dividend from Associate Dividend Received Short Term Inter Corporate Deposits Loans to Associates & Others Inter-Corporate Deposits Received Cash from Investing Activities Proceeds from Issue of CARS Issue of Foreign Currency Con.785.3 0.1 -0.7 -13.2 0.3 0.340.5 0.4 185.5 16.3 0.8 -101.4 52.0 13.9 38.6 -13.8 0. Acquisition of Subsidiary Refund from Escrow Account Sale of Investments Proceeds from Liquidation of Subsidiary Sale of Investment in Subsdiary Company Payment for Purchase of Business Admin.0 6.6 268. Notes -9.0 30.8 4.4 117.

0 -0.6 -160.2 -1.3 282.9 -4.0 0. Page 110 .356. Published by OneSource Information Services.8 -216.4 313.6 893.6 0.7 -601.0 0.0 130.5 -179.4 0.3 5.6 -141.6 255.2 306.7 -16.9 675.0 -1.1 -0.792.1 -151.3 -24. Dividend Paid to Minority Interest Interest Paid Cash from Financing Activities Foreign Exchange Effects Net Change in Cash Net Cash .0 -170.7 22.4 -6.6 529.2 0.6 947.0 0.7 0.8 -0.7 -1.0 0.1 61.0 0.2 -260.6 268.6 617.4 8.0 -31.0 11. Inc.440.0 0.1 915.862. September.1 517.8 © 1983-2010 Reuters Research Inc.0 3.2 -725.0 0.0 -4. Net Issue of Right Shares Proceeds from fixed deposits Repayment of Fixed Deposits Issue of Shares to Minority Interests Premium on Long Term Forward Contracts Preliminary Expenses Incurred Dividends Paid Tax Paid on Interim Dividend by Subs.3 -1.6 -13.6 -127.Beginning Balance Net Cash .7 32.2 260.9 151.8 1.621.0 0.6 286.4 874.0 3.4 3.3 190.4 -0.0 0.6 73.375.0 -118.9 601.1 102.6 259.5 -73.261.3 -0.9 0.5 -519.7 -0.1 501.Ending Balance Cash Interest Paid Cash Taxes Paid 0.0 0.7 351.2 0.5 0.6 165.0 660.0 4..9 519. All Rights Reserved.6 -102.0 15.6 125. 2010.6 0.1 0.4 -141.091.OneSource One-Stop Reports for Tata Motors Limited Stamp Duty on FCCN Conversion Premium on Redemption of FCCN Expenses on Non-convertible debenture Proceeds from issue of shares held in ab Proceeds from issue of shares by Joint v Proceeds from GDS issue LT Debt Proceeds LT Debt Payments ST Borrowings.0 0.0 -73.0 1.8 0.7 485.0 429.8 474.0 931.7 -51.0 -0.

5 12.9 100 % 15.2 % 12 % 31-Mar-07 456.5 100 % 47.1 % 605.557.5 100 % 47.4 % 8.0 100 % 5.3 % 2.5 % 88 % 7.376.431.266.8 36.140.7 38.437.3 100 % 40.616.8 12.5 111.4 115.1 % 31-Mar-08 0.412.0 14.8 45.6 91.2 % 1.889.8 1.0 100 % 5.200.7 % 31-Mar-08 314.616.2 100 % 43.956.120000 5.5 100 % 628.867.7 39.634.9 % 31-Mar-07 31-Mar-06 2.4 % 1.2 % 7.2 6.0 13.6 416.156.5 10.4 % 0.317.220850 4.6 % 0.5 100 % 17.8 82.7 17.7 61.2 18.5 % 19.8 12.853.8 % 4.1 18.0 100 % 331.2 % 0% 7.6 % 3.1 % 0.449.494.4 % 5.988130 31-Mar-08 140.129.761.632.2 100 % 5.6 18.7 81.437.941.7 21.com/ Geographic Segments Financials in: As Reported (mil) Annual External Revenue USD (mil) 31-Mar-10 United States UK Rest of Europe India Rest of World Outside India Segment Total Consolidated Total Exchange Rate: INR to USD Total Revenue USD (mil) 31-Mar-10 United States UK Rest of Europe India Rest of World Outside India Segment Total Consolidated Total Exchange Rate: INR to USD Total Assets USD (mil) 31-Mar-10 United States UK Rest of Europe India Rest of World Outside India Segment Total Consolidated Total Exchange Rate: INR to USD Purchase of Fixed Assets 592.270.9 % 31-Mar-07 22.3 28.3 100 % 7.5 % 3.675.412.6 % 31-Mar-06 15.3 100 % 8.8 950.2 17.5 170.6 3.3 564.8 % 4.7 21.4 % 1.156.453.1 18.5 43.3 % 1. URL: http://www.7 17.0 100 % 44.3 100 % 8.5 100 % 44.4 45.5 12.8 % 926.213701 7.895000 USD (mil) 31-Mar-10 13.413.1 % 6.7 % 1.220850 4.7 % 7.0 14.459072 31-Mar-09 1.3 % 1.453.5 % 19.6 % 3.4 36.5 100 % 628.6 21.3 % 8.3 100 % 40.889.5 % 1.2 % 15.0 100 % 3.634.7 48.449.2 % 7.5 40.3 100 % 45.6 % 1.853.853.634.9 % 2.3 100 % 45.770.376.6 % 3.2 100 % 40.5 % 2.156.9 100 % 45.156.266.7 8.2 0% 0.5 100 % 1.853.8 % 926.9 10.9 % 2.5 2.5 14.2 % 5.9 96.465000 31-Mar-09 0.627.4 % 0.882.3 % 1.5 % 2.1 86.326.278756 5.338.3 5.5 100 % 19.8 82.4 % 315.2 100 % 7.7 % 7.565000 17.412.956.8 100 % 44.7 % 677.3 % 6.8 % 1.494.9 1.0 0% 0.770.tatamotors.4 % 8.5 % 2.6 21.4 2.4 440.200.494.413.136.225.4 % 7.317.270.5 42.6 35.904.8 % 1.735000 7.8 100 % 50.1 60.225. Tel: 91-22-66658282.376.6 871.4 % 494.278756 5.6 82.5 % 2.675.6 % 3.853.8 36.3 100 % 7.5 % 2.632.3 % 1.305.7 % 7.0 100 % 1.213701 4.5 100 % 19.8 4% 0.6 18.627.2 % 15.412.853.9 % - 1.2 100 % 3.8 100 % 3.0 100 % Page 111 .956.134.5 14.376.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.129.2 % 5.5 % 1.7 81.2 100 % 1.7 13.5 170.9 100 % 45.0 - 0.494.6 % 31-Mar-09 343. India.5 10.2 3.8 45.892.0 100 % 44.4 % 31-Mar-06 2.9 100 % 15.6 82.9 1.8 % 5.8 100 % 13.761.9 % 31-Mar-07 31-Mar-06 - 7.8 % 5.2 17.6 % 0.2 % 6.5 40.988130 31-Mar-08 140.8 0.8 % United States UK Rest of Europe India Rest of World Outside India Segment Total Consolidated Total 7.6 % 1.892.882.867.150.9 4.5 100 % 331.904.459072 31-Mar-09 1.1 95.9 10.3 92.

988130 40.278756 45. Page 112 .213701 © 1983-2010 Reuters Research Inc.459072 45. All Rights Reserved.OneSource One-Stop Reports for Tata Motors Limited Exchange Rate: INR to USD 47.220850 44.

7 7.4 0.9 100 % 104.2 34.0 0% 31-Mar-07 31-Mar-06 43.2 724.0 8.7 % 31-Mar-07 7.0 44.0 834.213701 0% -52.459072 Depreciation USD (mil) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others 31-Mar-09 227.5 1. URL: http://www. India.539.0 91.5 99.7 % 31-Mar-06 364.3 -59.7 % -0.0 45.3 90.853.tatamotors.9 % 7.9 -100 % 44.030.9 99.5 % 8.7 % 0.8 6.5 -100 % 92.5 % 5.3 % 91.3 % 8.0 -100 % 5.4 % 9.2 % Page 113 .220850 0% -59.2 % 5.0 10.504.9 % 15.1 100 % 7.0 0.018.278756 0% -98.6 % 31-Mar-08 8.6 % 308.6 47.8 % 8.011.8 -100 % 50.6 100 % 15.0 44.5 8.1 % 31-Mar-09 6.988130 4.216.9 10.6 % 59.213701 5.6 56.9 100 % 15.016.397.1 % 55 % 4.3 % 89.7 % 0% 10.3 % 0.3 % 0% 31-Mar-08 8.156.4 45.494.988130 40.278756 89.9 % 0% -0.1 64.8 40.0 45.0 100 % 19.7 % 31-Mar-08 185.4 -98.5 % 8.412.0 40.220. Tel: 91-22-66658282.2 100 % 19.8 % 31-Mar-06 408.2 14.2 % Exchange Rate: INR to USD 47.3 % 279.4 92.0 9.4 -100 % 84.2 % -0.0 100 % 0.3 % 15.3 % 0% 31-Mar-09 8.1 0% 4.2 7.1 % -0.7 % 0.6 5% 31-Mar-06 10.853.853.2 7.6 -112.6 84.4 6.7 % 9.8 1.0 919.0 100 % -52.494.6 % 0.625.032.6 0.4 100 % -100.6 % 31-Mar-09 6.2 14.1 95.6 0.412.6 % 9.0 5.4 -18.7 93.220850 8.952.3 98.539.7 % 14.6 85.0 -100.3 85.4 90.3 55.495.3 753.5 % 53.0 45.3 100 % 45.2 620.412.0 7.3 100 % 5.376.8 100 % 0.0 40.8 % 52.0 100 % 44.428.608.4 % 8.212.3 99.3 100 % 8.3 % 0% 31-Mar-08 14.459072 0% 0% 112.0 41.9 45.3 92.988130 0% 0% 100.5 100 % -112.1 -18.7 % -0.3 100 % 6.6 0.7 14.3 100 % 40.220850 7.4 % 31-Mar-07 548.2 0.5 99.3 % 0.3 % 53 % 3.513.1 % 31-Mar-07 598.2 % 7.278756 8.376.3 % 98.3 % 3.459072 USD (mil) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Intersegment Eliminations Eliminations Consolidated Total Exchange Rate: INR to USD Total Revenue USD (mil) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Intersegment Eliminations Eliminations Consolidated Total 8.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.213701 -1 % 99 % 19.397.1 100 % 19.156.376.617.7 % -1.9 0% 9.9 100 % 0.3 % 7.1 % 530.0 47.156.0 92.0 0.3 15.019.com/ Business Segments Financials in: As Reported (mil) Annual External Revenue USD (mil) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Intersegment Eliminations Consolidated Total Exchange Rate: INR to USD Intersegment Revenue 8.4 % 661.513.4 8.5 43.

3 31-Mar-06 9.3 -130.5 844.9 31-Mar-08 8.1 % 100 % -0.8 9.0 138.5 738.9 -0.5 31-Mar-07 12.5 6.1 100 % 194.3 -0.5 % 31-Mar-09 208.3 % 100 % -0.0 100 % 0.9 % 31-Mar-07 73.5 47.0 40.2 100 % 0. bef.4 -4.5 47.0 -12.625.7 45.3 -2.2 100 % 152.4 0.2 532.0 47.4 % 109.1 -0.3 -0.0 100 % 545.2 532.3 -0.0 45.8 12.9 11.5 % 31-Mar-07 31-Mar-06 3.1 45.4 % 295.3 % 7% 100 % 0% -2.3 10.3 % 31-Mar-09 6.459072 USD (mil) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Segment Total Intersegment Eliminations Eliminations Consolidated Total Exchange Rate: INR to USD Operating Margin (%) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Segment Total Intersegment Eliminations Eliminations Consolidated Total Earn. Int.5 % -36.4 % 31-Mar-08 706.3 60.1 45.6 9.4 1.9 864.2 44.1 8.7 % 31-Mar-06 39.0 100 % Page 114 .459072 91.8 15.278756 0% 144.4 % 109.4 % 295.5 % -36.7 % 141.0 44.1 % 99.3 -4.4 % 0% 0% 0.4 0.5 47.5 6.1 95.3 0.0 4.220850 9.0 0.4 % 88.3 -0.3 9.3 4.9 791.213701 7.2 -21.8 0.7 741.2 493.8 94.4 40.1 10.3 844.988130 -159.4 -386.8 0.8 12.848.1 100 % 152.6 % 1.2 100 % 141.4 -0.6 % 100 % 0% 100 % 9.2 % 100 % 0% 9.3 31-Mar-09 3.4 -386.2 10.278756 83.7 92.6 49. & Tax USD (mil) 31-Mar-09 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Eliminations Consolidated Total Exchange Rate: INR to USD EBIT Margin (%) 31-Mar-09 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Eliminations Consolidated Total Total Assets USD (mil) 31-Mar-10 Tata vehicles/spares and financing 8.220850 95 % 0% 130.213701 0% 819.4 4.0 100 % 545.6 0.1 19.3 9.9 208.3 % 194.4 % 92.3 -143.2 100 % 819.6 667.5 % 31-Mar-08 7.6 9.536.988130 -159.8 -12.9 % 90.0 45.1 9.988130 0% 0% 185.3 % 99.0 0.4 842.3 -143.6 746.5 48.5 % 97.OneSource One-Stop Reports for Tata Motors Limited Automotive Segment Total Intersegment Eliminations Eliminations Consolidated Total Exchange Rate: INR to USD Operating Income/Loss 0.6 % 0% 16.3 -130.2 % 100 % 9.

0 -0.5 255.9 % -0.966.2 4.4 99.2 100 % -12.213701 Page 115 .8 0.220850 331.2 % 31-Mar-07 13.8 1.3 14.6 3.5 99.0 226.1 3.4 17.024.9 % 54.7 -0.831.2 % 97.9 -5.741.456.2 % - 3.4 8.5 - 2.509.1 40.6 31-Mar-09 2.278756 628.561.1 % 4.9 9.542.3 % 44.411.551.1 % 96.6 100 % 1.8 % 40.4 % 31-Mar-06 10.6 94.1 % 31-Mar-08 1.3 1.4 % 1.6 229.6 % 6.6 % 0.1 % 96.2 31-Mar-06 14.2 5.4 7.9 % 3.4 0.419.4 % 31-Mar-08 2.0 45.0 436.541.OneSource One-Stop Reports for Tata Motors Limited Jaguar and Land Rover Business Others Automotive Segment Total Intersegment Eliminations Eliminations Unallocable Expenses Consolidated Total Exchange Rate: INR to USD 8.895000 USD (mil) 31-Mar-10 13.8 % 44.335.146.8 2.5 0.2 28.3 % 91.7 % 93.8 % 44.1 % 61.253.565000 Operating Return on Assets (%) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Intersegment Eliminations Eliminations Consolidated Total Total Liabilities USD (mil) 31-Mar-10 Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Intersegment Eliminations Eliminations Unallocable Expenses Consolidated Total Exchange Rate: INR to USD 3.2 % 44.2 -0.4 0.0 -26.573.8 5.680.0 -48.4 7.7 % 31-Mar-06 104.1 % 50.927.7 97.2 3.1 8.9 % 3.7 31-Mar-07 23.661.1 1.9 14.9 -0.9 % 44.4 5.3 % 126.0 100 % 3.9 31-Mar-08 9.7 % - 17.9 -1.634.664.1 25.9 608.894.763.8 13.6 % - 1.8 210.5 -0.9 10.2 % 1.2 100 % 1.5 % 0.735000 5.8 % 0% -1.8 44.2 100 % -67.3 100 % 631.4 31.5 % 321.9 % 94.6 100 % -29.1 % 92.4 1.4 % 7.0 1.4 3.766.2 98.3 % 31-Mar-07 160.401.8 0.5 4.761.1 92.6 % 7.045.9 % 0% 3.0 99.5 14.8 1.914.2 % 111 % 31-Mar-09 2.8 % -0.972.2 49.360.7 7.491.8 % 100 % 0% -0.457.4 % 100 % 0% -0.2 47.0 99.5 13.4 0% 7.7 99.9 % -0.8 38.9 107.1 % 1% 100 % 0% -0.892.8 % 43.5 % 100 % 0% -0.3 14.8 96.0 92.159.5 6.3 320.7 108.0 38.8 617.735000 1.465000 1.120000 -1 % 99 % 1.413.0 219.895000 14.2 % - 19.305.451.5 2.6 100 % -10.2 100 % 331.9 % 7.3 14.4 % 8.4 % 43.988130 1.5 -15.1 % 260.4 5.7 10.811.481.2 98.548.1 0% 5.3 % 50.0 -2.4 -2.0 0.6 0.411.1 2.120000 -1 % 99 % 5.465000 3.6 % 47.1 % Tata vehicles/spares and financing Jaguar and Land Rover Business Others Automotive Segment Total Intersegment Eliminations Eliminations Consolidated Total Exchange Rate: INR to USD 732.2 -0.6 % 0% -0.6 % 45.867.3 % 57.7 % 60.7 % 0.9 14.7 -1.6 36.459072 3.3 % 9.805.9 23.5 85.7 -79.430.0 -16.9 100 % -80.8 98.3 9.995.285.5 100 % -45.2 40.0 -2.5 -2.1 8.935.453.565000 Purchase of Fixed Assets 31-Mar-09 1.9 % 45.5 99.3 % 2.7 0.9 7.

Page 116 . All Rights Reserved.OneSource One-Stop Reports for Tata Motors Limited © 1983-2010 Reuters Research Inc.

922.1 44.3 100 % -41.922.5 % 48.1 1.3 % 48.395.5 -0.7 % 58.6 3.5 % 1.4 % 0% 30-Sep-09 184.661882 4.4 7.8 141.616613 6.3 -10.3 4.2 % Automotive Jaguar and land Lan Rover Business Other Segment Total Inter segment revenue/Eliminations Consolidated Total Exchange Rate: INR to USD Operating Income/Loss 2.1 -0.5 99.5 99.7 96.5 % 30-Jun-09 94.0 35.4 100 % -4.4 20.5 - 31-Mar-10 9.6 7.888.7 % 0% 31-Dec-09 247.8 -2.616613 436.370.7 % 90.203.2 % -50.8 -0.3 % 45.8 % 57 % 3.3 % 56.8 % 31-Dec-09 2.4 % -178.740.379470 30-Jun-10 Automotive Jaguar and land Lan Rover Business Other Segment Total Inter segment revenue/Eliminations Consolidated Total 9.6 % 45.974.2 100 % -43.931.4 0.623.com/ Business Segments Financials in: As Reported (mil) Interim External Revenue USD (mil) 30-Jun-10 Automotive Jaguar and land Lan Rover Business Other Segment Total Inter segment revenue/Eliminations Consolidated Total Exchange Rate: INR to USD Total Revenue 2.3 % 5.9 100 % -14.7 % 6.9 - 31-Dec-09 11.0 39.6 -0.7 % 4.1 % 371.7 -2. URL: http://www.3 % 30-Sep-09 1.4 42.6 % 51.513.1 - 30-Jun-09 6.5 % 1.931.1 5.3 % 45.9 9.373.3 -30.7 % 5.8 % 57 % 3.9 3.1 60.1 % 50.5 % 100 % -9.379470 3.1 % 50.307.5 9.9 6.1 100 % -26.4 42.616613 USD (mil) 30-Jun-10 6.6 25.9 % 33.872473 231 % -8.3 % 4.9 6.6 34.6 % 445.7 3.395.203.2 97.2 3.0 39.1 3.1 100 % -24.581.941758 5.1 99.1 1.361.661882 136.3 -0.3 % 48.5 128.513.4 2.4 2.9 10.7 3.7 -122.9 % 9.7 143.8 48.9 % 45.4 163.5 -0.3 183.888.7 % 3.5 104.1 -0.5 10.6 46.370. Tel: 91-22-66658282.1 % 5.334.581.7 100 % -9.2 % 46.7 100 % -30.623.7 % 3.1 66. India.872473 USD (mil) 30-Jun-10 31-Mar-10 2.4 99.tatamotors.9 3.6 -77.4 % 5.524.2 % 5.872473 31-Mar-10 271.3 % 48.3 % 4.391.7 239.6 99.8 % 623.4 163.1 76.6 % 28.2 -34.8 % 1.3 % 46.7 % 4.7 % 30-Jun-09 1.1 44.941758 357.6 % 45.4 % 5.3 % 48.4 -2.6 46.974.5 -69.7 -2.3 26.8 141.7 239.3 % 31-Mar-10 2.7 100 % -30.2 100 % -43.661882 4.4 - 30-Sep-09 9.9 3.1 76.5 % - 627.2 10.3 % 5.307.3 % Automotive Jaguar and land Lan Rover Business Other Adjustment Segment Total Inter segment revenue/Eliminations Consolidated Total Exchange Rate: INR to USD Operating Margin (%) 248.171.9 43 % 53.4 99.1 100 % -26.524.236.339.379470 3.236.3 10.361.7 10.1 % 3.4 99.6 -0.0 -0.1 99.7 % 6.9 368.7 6.391.171.3 % 56.339.334.OneSource One-Stop Reports for Tata Motors Limited Tata Motors Limited Mumbai.6 3.3 % 30-Sep-09 1.0 94.7 % 100 % -5.6 99.3 4.9 -7.3 183.9 12.7 % 30-Jun-09 1.3 100 % -41.4 % 45.9 43 % 53.3 % 3.6 - 39.1 - Page 117 .7 % 5.1 100 % -24.373.740.3 -0.3 % 3.5 99.941758 5.8 % 31-Dec-09 2.3 % 46.0 6.1 % 3.5 99.8 -0.0 -0.6 % 51.4 6.2 -3.6 148.

OneSource One-Stop Reports for Tata Motors Limited © 1983-2010 Reuters Research Inc. All Rights Reserved. Page 118 .

OneSource One-Stop Reports for Tata Motors Limited Page 119 .

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