Ratio Analysis - TATA MOTORS LTD

Years Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Trend Mean Midian

Sales Growth 13.02% 3.76% -1.23% 8.10% 3.56% -13.54% -4.32% 11.47% 24.25% 5.01% 3.76%
EBITDA Growth 12.58% -2.15% -22.94% 6.32% -21.60% -27.07% 79.50% -23.44% 28.70% 3.32% -2.15%
EBIT Growth 10.32% -19.98% -55.67% -29.86% -189.71% 128.00% -106.02% -1564.91% -65.31% -210.35% -55.67%
Net Profit Growth -6.42% 3.18% -69.54% -79.01% -355.28% 392.87% -82.86% 619.52% -70.90% 39.06% -69.54%
Dividend Growth -100.00% 0.00% -100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -22.22% 0.00%

Gross Margin 22.64% 22.91% 24.73% 23.82% 21.65% 19.57% 19.42% 21.81% 19.81% 20.69% 21.70% 21.73%
EBITDA Margin 14.97% 14.91% 14.06% 10.97% 10.79% 8.17% 6.89% 12.93% 8.88% 9.20% 11.18% 10.88%
EBIT Margin 10.21% 9.82% 7.94% 4.33% 3.40% 0.36% -1.32% 3.50% -0.04% 2.01% 4.02% 3.45%
EBT Margin 8.17% 7.98% 6.15% 2.76% 1.79% -1.55% -4.09% 0.26% -3.39% -0.95% 1.71% 1.02%
Net Profit Margin 6.12% 5.07% 5.04% 1.56% 0.30% -0.74% -4.24% -0.76% -4.91% -1.15% 0.63% -0.22%

Sales Exp % Sales 7.67% 8.00% 10.67% 12.85% 10.86% 11.40% 12.53% 8.88% 10.93% 11.49% 10.53% 10.89%
Depretiation % Sales 4.76% 5.09% 6.12% 6.64% 7.39% 7.81% 8.21% 9.43% 8.92% 7.19% 7.15% 7.29%
OperatingIncome % Sales 10.21% 9.82% 7.94% 4.33% 3.40% 0.36% -1.32% 3.50% -0.04% 2.01% 4.02% 3.45%

Return On Capital Employed 18.83% 19.90% 14.62% 8.55% 5.37% 0.65% -1.84% 4.43% -0.06% 3.88% 7.43% 4.90%
Retained Earnings% 95.49% 100.00% 99.51% 100.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 49.50% 47.74%
Return On Equity % 11.30% 10.28% 9.28% 3.07% 0.48% -1.35% -5.92% -0.96% -7.15% -2.21% 1.68% -0.24%
Self Sustained Growth Rate 10.79% 10.28% 9.24% 3.07% 0.48% 0.00% 0.00% 0.00% 0.00% 0.00% 3.38% 0.24%
Interest Coverage Ratio 5.01x 5.32x 4.44x 2.76x 2.12x 0.19x -0.47x 1.08x -0.01x 0.68x 2.11x 1.60x

Debtor Turnover Ratio 22.02x 20.92x 20.12x 19.16x 14.66x 15.89x 23.37x 19.70x 22.38x 21.98x 20x 21x
Creditor Turnover Ratio 2.53x 2.45x 2.38x 1.98x 2.04x 2.17x 1.96x 1.73x 2.02x 2.23x 2x 2x
Inventory Turnover 8.54x 8.99x 8.36x 7.69x 6.92x 7.74x 6.97x 6.92x 7.90x 8.49x 8x 8x
Fixed Turnover Ratio 3.37x 2.97x 2.55x 2.81x 2.40x 2.71x 2.05x 1.80x 2.01x 2.62x 3x 3x
Capital Turnover Ratio 3.55x 4.68x 3.46x 4.64x 3.06x 5.02x 4.20x 4.52x 6.25x 7.63x 5x 5x

Debtor Days 17 17 18 19 25 23 16 19 16 17 19 18
Payable Days 145 149 154 184 179 168 186 211 181 164 172 174
Inventory Days 43 41 44 47 53 47 52 53 46 43 47 47
Cash Conversion Cycle(indays) -85 -91 -92 -117 -101 -98 -118 -139 -118 -104 -107 -103

CFO/Sales 15.53% 13.50% 13.88% 11.20% 8.18% 6.26% 10.20% 11.61% 5.13% 10.23% 10.57% 10.71%
CFO/Total Assets 16.55% 14.97% 14.40% 11.08% 7.29% 6.18% 8.32% 8.49% 4.34% 10.57% 10.22% 9.53%
CFO/Total Debt 59.61% 48.27% 54.64% 38.42% 26.82% 17.79% 21.34% 20.40% 9.75% 26.39% 32.34% 26.60%