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Tata Motors Ltd. comparitives
Comparative Ratio Analysis
Company Name OPM(%) Average 3-Years NPM Average 3-Years
Tata Motors Ltd. 10.45% 10.91% 7.07% 7.29%
Ashok Leyland 9.32% 9.77% 5.99% 6.14%
Eicher Motors 6.38% 5.99% 3.11% 6.39%
Force Motors -4.49% 1.13% 3.22% 2.73%
Swaraj Mazda 5.53% 6.80% 2.74% 3.74%

Valuation
Company Name Current Price(Rs.) P/E P/Bv Mcap/Revenues
Tata Motors Ltd. 669.75 13.49 3.77 0.95
Ashok Leyland 37.8 11.34 2.67 0.68
Eicher Motors 352.95 16.19 2.40 0.50
Force Motors 323.4 14.14 1.90 0.46
Swaraj Mazda 315 20.53 4.01 0.54

Financial Comparison
Revenues 3- Year PBDIT 3-Year PAT 3-Year
Company Name
(Rs Cr.) CAGR(%) (Rs Cr.) CAGR (%) (Rs Cr.) CAGR (%)
Tata Motors Ltd. 27,061.53 25.44 3,527.98 21.24 1,913.46 24.37
Ashok Leyland 7,358.88 31.29 749.37 26.69 441.29 27.51
Eicher Motors 1,968.64 -0.68 144.43 -1.75 61.26 2.02
Force Motors 934.05 -0.57 -0.11 30.13 -17.45
Swaraj Mazda 611.82 13.13 34.59 -2.34 16.78 -10.61
Proportionate Distribution (%)
Total
Particulars Tata Motors Ltd. Ashok Leyland Eicher Motors Force Motors Swaraj Mazda
(Rs Cr.)
Revenue 37,934.91 71.34% 19.40% 5.19% 2.46% 1.61%
PBDIT 4,456.26 79.17% 16.82% 3.24% -0.00% 0.78%
PAT 2,462.92 77.69% 17.92% 2.49% 1.22% 0.68%

Key Financials

Company name Year Equity Reserves Total Income Fin Exp Depn Tax N.P.
Auto - LCVs/HCVs
Ashok Leyland Ltd. 0703-12 132.39 1,739.23 7,462.87 31.82 150.57 163.22 441.29
Eicher Motors Ltd. 0703-12 28.09 385.28 1,987.68 13.83 40.53 27.64 61.26
Force Motors Ltd. 0603-12 13.18 210.92 1,055.94 7.81 42.68 -0.71 30.13
Swaraj Mazda Ltd. 0603-12 10.49 55.82 613.30 7.36 2.71 8.50 16.78
Tata Motors Ltd. 0703-12 385.41 6,458.39 27,759.88 368.51 586.29 659.72 1,913.46
Total : -n/a- 569.56 8,849.64 38,879.67 429.34 822.79 858.37 2,462.92

Ratios

Company Rep. EPS Rep. CEPS BVPS OPM GPM NPM Rep. RONW Current Ratio
Year
name (Rs,) (Rs,) (Rs,) (%) (%) (%) (%) (Times)
Auto - LCVs/HCVs
Ashok Leyland
0703 3.33 4.47 13.95 9.32 7.27 5.94 23.88 1.29
Ltd.
Eicher Motors 0703 21.81 36.75 146.91 6.38 4.32 3.08 14.84 1.06

30 171.87 55.29 659.24 5.64 13.11 144.14 788.31 10.77 5.50 4.LCVs/HCVs Ashok 0703 3 4 132.89 3.350.51 1.59 4. Swaraj 0703 12 3 10.26 26.18 210.89 28 1.80 81.76 15.74 16.99 313.LCVs/HCVs Ashok 0703 6 2 132.03 387.78 1.52 276. 10.97 60.67 2.034.75 398.39 158.09 705.090.188.69 19.734.61 12.54 9.31 0.923.664.44 1.23 Ltd.60 Motors Ltd. 965.08 -4.34 26.49 71.09 2.160.58 136.29 Motors Ltd.99 Mazda Ltd.07 3.94 1. 0703 49.913.28 Force Motors Ltd.Ltd.82 586.44 8.53 5.787.LCVs/HCVs Ashok Leyland Ltd.04 17. 132.62 10.69 245.399.50 603.41 17.39 1.09 Mazda Ltd.72 1.15 Ltd.93 10.19 28.11 72.27 2.08 533. 569.05 1.64 60. Swaraj 0703 3 4 10.26 170. Swaraj 0703 6 2 10. Tata Motors 0703 3 4 385.52 Leyland Ltd.79 2.78 Leyland Ltd.73 25.11 2.25 59.08 577.09 385. Force 0612 3 3 13.53 27.107.59 Motors Ltd. Tata Motors 0703 6 2 385.53 5.92 Swaraj Mazda Ltd. Force Motors 0603 22.73 Half Yearly Net Company Op Other Total Gross Year Months Half Equity Interest Depreciation Tax profit / name Income Income Expenditure profit loss Auto .38 74.06 Ltd.13 16.86 177.41 9.431. -n/a.12 0 153.59 63.739.39 2.52 8. Force 0609 6 1 13.600.-n/a.27 313.791.45 8.77 938.28 6. 28.46 40.95 52.197.458.32 279.48 5. 13.54 13.46 Ltd. Total : -n/a.229.3 1.90 Motors Ltd.884.13 57.83 128.65 1.26 4.09 2.47 -9.06 . Eicher 0703 12 3 28.99 667.55 Ltd.09 41.57 13.91 2.13 5.37 6.74 20.91 Tata Motors Ltd.51 1.24 Current Equity and Reserves Company name Current Equity Current Reserve Auto . Eicher 0703 3 4 28. Tata Motors 0703 12 3 385.72 23. Total : -n/a.57 228.655.99 Mazda Ltd.81 499.285.31 4.648.25 203. 385.09 301. Swaraj Mazda 0603 16 18.39 Total : 569.32 0 291.73 4.41 31.42 0 567.35 103.55 -12.50 165.865.95 1.26 10.44 467.39 4.24 Quarterly Net Company Op Other Total Gross Year Months Quarter Equity Interest Depreciation Tax profit / name Income Income Expenditure profit loss Auto .48 57.298.18 294.89 52.67 10.50 314.88 279.-n/a.99 48.663.06 3.08 13.70 -17.23 Eicher Motors Ltd.49 -9. -n/a.24 29.18 514.89 7.582.97 9.223.86 6.60 8.24 18. Tata Motors Ltd.65 64.

8 35.15 Eicher Motors Ltd.49 Share Application Money 0. 1982 2:5 Tata Motors Ltd.75 6/29/2007 13. of Months 12 12 12 12 12 Sou r ce Of Fun ds : Ow ne r' s Fu nds Equity Share Capital 385. 1994 Equity Share 1:1 10 0 Force Motors Ltd. 1989 CD 1: 5 150 0 Eicher Motors Ltd. 2007 371.1 Force Motors Ltd.82 Loan Fun ds .98 Tata Motors Ltd. Ashok Leyland Eicher Motors Force Motors Swaraj Mazda Year Mar '07 Mar '07 Mar '07 Mar '06 Mar '06 No.00 Preference Share Capital 0. 1996 Equity Share 1:3 10 90 Force Motors Ltd. 1978 1:2 Force Motors Ltd.4 Swaraj Mazda Ltd.00 0. 315 6/29/2007 20.LCVs/HCVs Ashok Leyland Ltd.LCVs/HCVs Ashok Leyland Ltd.00 0. 2007 974.18 10. 1999 Equity Share 1:3 10 90 Force Motors Ltd. 1978 1:1 Force Motors Ltd.00 0. 2007 50.26 2.95 6/29/2007 16. 1979 2:5 Tata Motors Ltd. 1991 PCD 1: 2 200 0 Ashok Leyland Ltd.39 28. 37. 352.00 0.00 0. 1977 1:5 Rights Company name Year Type Of Security Ratio Face Value Premium Auto .49 3. 1995 3:5 Tata Motors Ltd.39 1739.23 385.8 6/29/2007 12.41 132.95 270 Tata Motors Ltd.LCVs/HCVs Ashok Leyland Ltd.28 210. 1973 1:1 Tata Motors Ltd.LCVs/HCVs ShortCompanyName Tata Motors Ltd.00 0. 1993 Equity Share 1:2 10 90 Tata Motors Ltd.39 2. 2007 470 296.LCVs/HCVs Ashok Leyland Ltd.00 0. 2007 394 222.09 13.71 Eicher Motors Ltd.00 Reserves & Surplus 6458.8 635 Bonus Company name Year Ratio Auto .00 0. 669.Year High Lows Company name Year High Low Auto .4 Swaraj Mazda Ltd.63 4.92 55. 1991 NCD 1: 5 150 0 Market Price and Related Ratio Company name Current Share Price As on P-E Ratio (Times) P-B Ratio (Times) Auto . 1986 1:1 Force Motors Ltd.78 Comparison of Balance sheet of Tata Motors with other companies Balance Sheet Units : Rupees (Crores) Auto .

96 7.76 422.80 Book Value of Unquoted 0.08 1.13 2.09 24.53 100.58 0.64 Selling Expenses 0. of Months 12 12 12 12 12 In c om e: Operating Income 27061.01 608.30 4.00 934.20 13.22 574.68 1842.22 120.00 9.27 3.04 360.22 37.01 Administrative Expenses 2609.70 8.70 87.92 0.92 24.20 75.92 625.70 6.11 -2.36 Capital Work-in-progress 2513.10 73.82 100.71 90.43 41.00 170.36 UnSecured Loans 1987.61 90.88 100.02 0.45 735.64 -0.27 Manufacturing Expenses 1813.72 22.30 5521.76 449.00 outstanding Comparison of Income Statements of Tata Motors with other companies Income Statements Units : Rupees (Crores) Auto .00 7358.13 0.54 6672.42 0.66 Advances Less : Current Liabilities & 8321.64 413.95 80.53 103.24 128.10 5.52 4.43 17. Secured Loans 2022.00 Net C ur re n t Ass ets Current Assets.00 24.02 7.20 531.71 689.45 4.96 93.00 43.82 4.16 237.62 976.76 449.97 0.00 Less:Accumulated Depreciation 4894.90 Expenses Capitalised -577.78 1129.49 577.59 84.13 -0.51 8.25 Investments 2477.03 1451.00 281.33 Number of Equity shares 385410000.42 2544.33 68.72 33.32 174.94 94.65 Personal Expenses 1361.29 179.03 -19.54 1313.94 2512.01 3.00 10486700.02 104.98 207.70 5.52 Less: Revaluation Reserve 25.06 11.00 13176262.58 440.00 221.18 74.18 24.13 1.00 0.96 0.13 1.29 179.51 73.00 written Total 10852.06 0.94 2512.00 Ex pe ns es Material Consumed 19025.49 132. Loans & 10318.05 -2.00 -0.01 608. Ashok Leyland Eicher Motors Force Motors Swaraj Mazda Year Mar '07 Mar '07 Mar '07 Mar '06 Mar '06 No.10 280.00 611.LCVs/HCVs ShortCompanyName Tata Motors Ltd.19 Miscellaneous expenses not 10.70 506.63 0.00 1968.00 Cost Of Sales 24231.05 -0.00 0.25 70.50 6.09 272.00 Investments Market Value of Quoted 0.00 0.20 1970.20 5.05 100.50 161.32 407.95 22.86 45.99 283.01 366.62 1.90 89.03 480.09 5.75 55.70 2.59 157.82 515.12 Total 10852.86 74.00 28093950.17 Net Block 3855.80 Uses of Fu n ds Fi xe d Ass ets Gross Block 8775.22 272.08 293.64 100.80 2620.20 592.75 229.39 0.46 Provisions Total Net Current Assets 1997.00 1323870317.00 28.46 .00 0.31 1284.61 65.00 Investments Contingent liabilities 2527.41 17.

33 9.11 8.00 0.09 303.00 0.75 0.13 Retained Earnings 1237.07 4.00 0.36 1.48 60.40 -0.30 0.97 3.97 -4.23 .17 150.12 Adjusted PBDIT 3527.11 -0.20 Depreciation 586.14 2.96 0.08 8.84 7.18 144.14 85.40 0.00 0.00 0.61 4.14 19.70 81.34 16.11 30.17 396.86 18.71 -0.57 448.71 0.08 -0.29 6.47 4.33 9.57 2.50 -50.11 Other Non Cash 0.00 5.42 24.79 3.19 6.44 163.36 4.46 7.22 2.10 -49.31 Appropriation Equity Dividend 578.57 20.01 34.83 0.14 198.46 7.60 -5.82 0.34 -0.38 -41.00 0.54 Other Recurring Income 698.00 0.94 Preference Dividend 0.48 0.49 33.58 63.06 42.07 80.07 674.00 0.Operating Profit 2829.57 2.36 27.39 Adjusted PAT 1913.35 2.44 Other Write Offs 0.50 1.00 0.07 0.43 7.00 0.00 2.00 0.10 0.00 61.58 0.43 13.00 0.01 0.62 9.45 5.77 0.05 40.51 1.46 0.85 0.11 -0.46 7.90 -5.32 125.46 686.18 9.81 0.23 16.00 0.52 4.72 2.06 -0.63 10.18 9.67 15.67 7.95 41.62 Non Recurring Items 0.29 2.00 Adjusted PBT 2573.64 1.43 85.25 0.04 749.02 adjustments Reported Net Profit 1913.00 Dividend Tax 98.86 4.07 441.78 2.65 Financial Expenses 368.22 27.00 0.51 566.72 0.00 0.02 2.68 4.58 2.67 0.38 11.58 0.81 0.74 Earnings Before 1913.43 0.70 7.14 26.13 3.14 0.07 403.87 5.00 37.70 88.68 6.00 0.00 0.00 1.36 31.51 -1.19 0.83 0.26 3.59 5.04 1.37 10.00 0.01 Tax Charges 659.00 0.98 13.53 2.