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    Industry AnalysisOf

    AutomobilesIndustry

    Prepared By: Amir Faisal

    MBA (3rd Semester)

    Krupanidhi Business School

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    Index

    Ch Topic Page

    1 Indian Automobile Industry 3

    A. Overview of Automobile Industry 3

    A. 2-Wheelers 5

    B. Passanger Car 7

    C. 3-wheelers 10

    D. Utility Vehical 12

    E. Commercial Vehical 14

    2 Scope of Indian Automobile Sectore 17

    A. Investment in Auto Sectore 17

    B. Growth In Sectore 17

    C. Export Trends 18

    D. New Launces 18

    E. Employment in Sectore 18

    3 Top Player in Indian Automobile Industry 20

    4 TATA Motors 21

    A. Profile 22

    B. Products 24

    C. Milestone 25

    D. Balane Sheet 31

    E. Profit and Loss Account 32

    5 Honda Siel Cars India Ltd 34

    A. Profile 35

    B. Manufacturing Facility 35C. Vehical 36

    D. Awards 36

    E. Balance Sheet 37

    F. Income Statement 39

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    Indian Automobile

    Industry

    Over a period of more than two decades the Indian Automobile industry has been

    driving its own growth through phases. The entry of Suzuki Corporation in Indian

    passenger car manufacturing is often pointed as the first sign of India turning to a market

    economy. Since then the automobile sector witnessed rapid growth year after year. By

    late-90's the industry reached self reliance in engine and component manufacturing from

    the status of large scale importer.

    With comparatively higher rate of economic growth rate index against that of

    great global powers, India has become a hub of domestic and exports business. The

    automobile sector has been contributing its share to the shining economic performance of

    India in the recent years.

    With the Indian middle class earning higher per capita income, more people are

    ready to own private vehicles including cars and two-wheelers. Product movements and

    manned services have boosted in the sales of medium and sized commercial vehicles for

    passenger and goods transport. Side by side with fresh vehicle sales growth, the

    automotive components sector has witnessed big growth. The domestic auto components

    consumption has crossed rupees 9000 crores and an export of one half size of this figure.

    A. Overview of Automobile IndustryThe Indian automobile industry is going through a technological change where

    each firm is engaged in changing its processes and technologies to sustain the

    competitive advantage and provide customers with the optimized products and services.

    Starting from the two wheelers, trucks, and tractors to the multi utility vehicles,

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    commercial vehicles and the luxury vehicles, the Indian automobile industry has achieved

    tremendous amount of success in the recent years.

    As per Society of Indian Automobile Manufacturers (SIAM) the market share of

    each segment of the industry is as follows:.

    The market shares of the segments of the automobile industry

    The automobile industry had a growth of 15.4 % during April-January 2007, with

    the average annual growth of 10-15% over the last decade or so. With the incremental

    investment of $35-40 billion, the growth is expected to double in the next 10 years.

    Consistent growth and dedication have made the Indian automobile industry the

    second- largest tractor and two-wheeler manufacturer in the world. It is also the fifth-

    largest commercial vehicle manufacturer in the world. The Indian automobile market is

    among the largest in Asia.

    The key players like Hindustan Motors, Maruti Udyog, Fiat India Private Ltd,

    Tata Motors, Bajaj Motors, Hero Motors, Ashok Leyland, Mahindra & Mahindra have

    been dominating the vehicle industry. A few of the foreign players like Toyota Kirloskar

    Motor Ltd., Skoda India Private Ltd., Honda Siel Cars India Ltd. have also entered the

    market and have catered to the customers needs to a large extent.

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    preceding year. 2-wheeler segment have been showing an upward productiontrend. At present, there are more than 7.6 million 2-wheeler, manufactured in Indianautomobile sector.

    Sales in Indian automobile industry- Domestic and Exports

    During financial year 2005-06, 2-wheeler sales in Indian market showed a growth

    of 13.63%, with an increase in exports by more than 40%. In the same period, cumulative

    sales of 2-wheelers in Indian market amounted to 7.05 millions, with 0.5 million units

    exported by Indian manufacturers.

    Production trend of 2-wheelers in Indian automobile industry

    Sales trend of 2-wheelers in Indian market

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    Export trend of 2-wheelers

    * The figures are based on SIAM analysis and individual company's reports

    Passenger Cars

    India is the fourth-largest car market in Asia. During financial year 2005-06,

    Indian passenger car segment grew at 19% with the sale of 1.3 million passenger

    vehicles.

    Passenger cars come in great variety, starting from 2-seater electric car REVA to

    5-seater compact cars like Zen, Santro, Indica, etc. They come in all ranges- economical

    and luxurious. Tata Motors, Maruti Udyog Limited, Mahindra & Mahindra, etc are the

    leading Indian manufacturers in passenger cars segment, whereas many foreign players

    such as Hyundai, Honda, Fiat, Ford, Toyota, etc are also serving the segment.

    Production of passenger cars in Indian automobile industry

    Production of passenger cars in Indian automobile industry witnessed an overall

    growth of more than 8%. The major players are in the process of expanding their

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    capacity. Some companies are also in the process of launching new compact cars in

    Indian markets.

    Production trend of passenger cars in Indian automobile segment

    Sales in the Indian automobile industry- Domestic and Exports

    During financial year 2005-06, passenger vehicle sales showed a growth of 7.55%

    over the preceding year. Passenger vehicle exports increased by 5.93% in the sameperiod.

    Sales trend of passenger cars in Indian market

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    Export trend of Indian passenger car manufacturers

    Passenger Car Sales- Domestic & Exports

    Tata Motors, Maruti Udyog Limited, Hyundai, Honda, Fiat, Ford, Toyota,Mahindra & Mahindra, etc are the leaders in Indian passenger car segment deliveringcompact and luxurious cars. Some of the domestic as well as the global players are in theprocess of delivering more compact cars in Indian markets.

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    During financial year 2005-06, sales of passenger cars in Indian market showed agrowth of 7.55% with an increase of 5.93% in exports by Indian passenger carmanufacturers.

    Market shares of major players in Indian passenger car segment

    Contribution to exports by major Indian players in passenger car segment

    The figures are based on SIAM analysis and individual company's reports.

    3-Wheelers

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    Indian automobile industry witnessed a growth of 16.04% in 3-wheeler segment.

    Indian 3-wheeler segment includes a range of vehicles such as auto rickshaws, mini

    tempos, etc.

    In India, there are 6 local and multinational companies making 3-wheelers. Bajaj

    Auto is the leader in 3-wheeler manufacturing. It has also dominated the global arena

    after Piaggio.

    Production

    During financial year 2005-06, 3-wheeler production showed a growth of 16.02%

    over the preceding year. 3-wheelers have been showing an upward production trend. At

    present, there are more than 4.34 lakhs 3-wheelers manufactured in Indian automobilesector.

    Production trend of 3-wheelers in Indian automobile industry

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    Sales in Indian automobile industry- Domestic and Exports

    During financial year 2005-06, 3-wheeler sales in Indian market showed a growth

    of 17%, with an increase in exports by more than 40%.

    Sales trend of 3-wheelers in Indian market

    Export trend of Indian 3-wheelers

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    Utility Vehicles

    Indian automobile industry witnessed a growth of 12.85% in utility vehicle (UV)

    segment. Indian UV segment includes a range of vehicles such as Safari, Sumo, Qualis,

    Tavera, etc. There are Multi Utility Vehicles, Sport Utility Vehicles, etc., depending on

    nature of their use. Tata Motors, Mahindra & Mahindra, Swaraj Mazda, Maruti Udyog

    Ltd, etc are the leading Indian manufacturers of UVs. They have now entered the global

    arena as well.

    Production of UVs in India

    The production of UVs in Indian automobile industry witnessed an overall growth

    of more than 7%. The major players are in the process of expanding their capacity. Some

    of the manufacturers are also in the process of launching compact UVs

    Production trend of UVs in Indian automobile sector

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    Sales in the Indian automobile industry- Domestic and Exports

    During financial year 2005-06, UV sales showed a growth of 10.33% over the

    preceding year, whereas exports by Indian manufacturers had a decline of 0.42%

    Sales trend of UVs in Indian automobile sector

    Exports trend of Indian UVs in UV segment is as follows

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    The figures are based on SIAM analysis and individual company's reports

    Commercial Vehicles

    India is the fourth-largest commercial vehicle market in the world, and it is also

    the fifth-largest manufacturer of commercial vehicles. During financial year 2005-06,

    commercial vehicle segment grew at 36.96%. Medium and Heavy Commercial Vehicles

    (MHCVs) showed a growth of 39.92% and Light Commercial Vehicles (LCVs) showed a

    growth of 32.8%.

    Commercial vehicles can be categorized into Light Commercial Vehicles (LCVs),

    Medium Commercial Vehicles (MCVs) and Heavy Commercial Vehicles (HCVs)

    according to the maximum load they can carry. LCVs gross vehicle weight limit is 7.5

    tonne, whereas MCVs' is 25 tonne and HCVs' is 49 tonne.

    Production of commercial vehicles in the Indian automobile industry

    Production of commercial vehicles in Indian automobile industry witnessed an

    overall growth of more than 10%. The major players are in the process of expanding their

    capacities and acquiring advanced technologies for higher quality production.

    Total production of commercial vehicles (in units) of major players

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    Sales in the Indian automobile industry- Domestic and Exports

    During financial year 2005-06, commercial vehicle sales in Indian automobileindustry showed a growth of 10.13%. The exports of commercial vehicles witnessed agrowth of more than 35%.

    Sales and exports (in units) of commercial vehicles for FY 2005-06

    * The figures are based on SIAM analysis and individual company's reports.

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    2. Scope of Indian Automobile Sector

    The Indian automobile industry is going through a phase of rapid change and highgrowth. With new projects coming up on a regular basis, the industry is undergoing

    technological change. The major players are expanding their plants and focusing on masscustomization, mass production, etc.

    INVESTMENT IN AUTO SECTOR

    Nearly every automobile company is investing at a higher rate than ever before toachieve a high growth trajectory. The overall investment in the sector has been increasingquite rapidly. It is expected that by the end of 2010 Indian automobile sector will beinvesting a huge amount as Rs. 30,000 crores.

    For example, Maruti Udyog has plans of investing Rs. 6,500 crores; the TataMotors is coming up with more investment of Rs. 2,000 crores in its compact car project.Not only the Indian companies but also foreign players like Hyundai are coming up withthe investment of more than Rs. 3,800 crores in India.

    GROWTH IN THE SECTOR

    At present the industry is enjoying a growth rate of 14-17% per annum, withdomestic sales growth at 12.8%. The growth rate is predicted to double by 2015.

    As it is seen, the total sales of passenger vehicles - cars, utility vehicles and multi-utility vehicles - in the year 2005 reached the mark of 1.06 million. The current growthrate indicates that by 2012 India will overtake Germany and Japan in sales volumes.

    Financing schemes have become an important factor in the growth of automobilesales. More and more financial schemes are coming up with easy installment plans to lurethe customers.

    Apart from domestic production, the industry is consistently focusing on the

    automobile exports. The auto component segment is contributing a lot in the exportarena. The liberalized policies of the government are now making the companies go formore and more exports.

    The automobile exports are increasing year by year. According to the Society ofIndian Automobile Manufactures (SIAM) automobile exports in the last five years are asfollows:

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    Export trend over the last five years

    NEW LAUNCHES

    The Indian automobile sector is experiencing changes in every arena. Changes inthe looks of the vehicles are taking place; the vehicles are being made more user-friendly.Each and every firm is competing to give the customers more customized vehicles with

    respect to speed, mileage, and maintenance. At present there are many new modelsentering the Indian market. To name a few, Suzuki Heat 125 and Suzuki Zeus 125X arethe two bikes in the motorcycle segment; Kinetic Blaze and Honda DIO in the scootersegment; Maruti's Zen Estillo in the car segment, so on and so forth.

    EMPLOYMENT IN THE SECTOR

    Investment is leading to the employment growth in the sector. With theemergence of new projects and introduction of technological advancements, the focus ismore on the skilled and experienced human resource. The companies are looking forskilled and hard working people who can give their best to the organization.

    The engineers in the automotive or electrical or mechanical field are in demand.Some of the firms going for automation, i.e. planning for CAD (Computer AidedDesigns) systems, are also recruiting people with IT specializations.

    Employment Status In Indian Automobile Industry

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    Indian economy has seen vast developments in all areas, automobile,

    telecommunication, textile, mining, BPO, KPO, agriculture, retail, food and beverages,

    etc. After succeeding various hurdles that came in the way through significant

    investments, dedication and hard work it has now become the fastest growing economy.

    Like other sectors, Indian automobile industry has also witnessed a rapid growth and

    technological change.

    This has led to change in the human resource policies and practices. More and

    more labour is being employed, proper training is provided to the new joiners; also there

    are development programs for the employees to integrate the technological change.

    Improved information technology and automotive developments also demand the

    human resource to develop and acquire the desired skills. Investment is leading to the

    employment growth in the sector. With the emergence of new projects and introduction

    of technological advancements, the focus is more on the skilled and experienced human

    resource. The companies are looking for skilled and hard working people who can give

    their best to the organization.

    Engineers are in demand in automotive, electrical and mechanical fields. Some of

    the firms going for automation, i.e. planning for CAD systems, are also recruiting people

    with IT specializations.

    The automobile sector in India has provided employment to more than 7 lakh

    skilled workforce. The States like Maharashtra, Andhra Pradesh, Karnataka, and Haryana

    are having most of the automobile companies that witness many major technological

    developments and 15% growth in the Indian automobile sector. Given below is the

    employment status of the major automobile centres in the country:

    Career Opportunities

    Employment status of Indian automobile sector (FY 2005-06)

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    Top Ten Players in Indian Automobile Sector

    1. Maruti Udyog Limited2. Hero Motors Limited3. Tata Group4. Bajaj Auto Limited5. Mahindra Group6. Ashok Leyland7. Yamaha Motor India8. Hyundai Motors India Limited

    9. Toyota Kirloskar Motor Private LimitedHonda Siel Cars India Limited

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    http://www.naukrihub.com/india/automobile/top-companies/marutiudyog/http://www.naukrihub.com/india/automobile/top-companies/hero-motors/http://www.naukrihub.com/india/automobile/top-companies/tata-motors/http://www.naukrihub.com/india/automobile/top-companies/bajaj-auto/http://www.naukrihub.com/india/automobile/top-companies/mahindra/http://www.naukrihub.com/india/automobile/top-companies/ashok-leyland/http://www.naukrihub.com/india/automobile/top-companies/yamaha/http://www.naukrihub.com/india/automobile/top-companies/hyundai-motors/http://www.naukrihub.com/india/automobile/top-companies/toyota-kirloskar/http://www.naukrihub.com/india/automobile/top-companies/honda-siel/http://www.naukrihub.com/india/automobile/top-companies/marutiudyog/http://www.naukrihub.com/india/automobile/top-companies/hero-motors/http://www.naukrihub.com/india/automobile/top-companies/tata-motors/http://www.naukrihub.com/india/automobile/top-companies/bajaj-auto/http://www.naukrihub.com/india/automobile/top-companies/mahindra/http://www.naukrihub.com/india/automobile/top-companies/ashok-leyland/http://www.naukrihub.com/india/automobile/top-companies/yamaha/http://www.naukrihub.com/india/automobile/top-companies/hyundai-motors/http://www.naukrihub.com/india/automobile/top-companies/toyota-kirloskar/http://www.naukrihub.com/india/automobile/top-companies/honda-siel/
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    A. Profile

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

    revenues of Rs.70,938.85 crores (USD 14 billion) in 2008-09. It is the leader in

    commercial vehicles in each segment, and among the top three in passenger vehicles with

    winning products in the compact, midsize car and utility vehicle segments. The company

    is the world's fourth largest truck manufacturer, and the world's second largest bus

    manufacturer.

    The company's 23,000 employees are guided by the vision to be "best in the

    manner in which we operate, best in the products we deliver, and best in our value system

    and ethics."

    Established in 1945, Tata Motors' presence indeed cuts across the length and

    breadth of India. Over 4 million Tata vehicles ply on Indian roads, since the first rolled

    out in 1954. The company's manufacturing base in India is spread across Jamshedpur

    (Jharkhand), Pune (Maharashtra), Lucknow (Uttar Pradesh), Pantnagar (Uttarakhand) and

    Dharwad (Karnataka). Following a strategic alliance with Fiat in 2005, it has set up an

    industrial joint venture with Fiat Group Automobiles at Ranjangaon (Maharashtra) to

    produce both Fiat and Tata cars and Fiat powertrains. The company is establishing a new

    plant at Sanand (Gujarat). The companys dealership, sales, services and spare parts

    network comprises over 3500 touch points; Tata Motors also distributes and markets Fiat

    branded cars in India.

    Tata Motors, the first company from India's engineering sector to be listed in the

    New York Stock Exchange (September 2004), has also emerged as an international

    automobile company. Through subsidiaries and associate companies, Tata Motors has

    operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land

    Rover, a business comprising the two iconic British brands that was acquired in 2008. In

    2004, it acquired the Daewoo Commercial Vehicles Company, South Korea's second

    largest truck maker. The rechristened Tata Daewoo Commercial Vehicles Company has

    launched several new products in the Korean market, while also exporting these products

    to several international markets. Today two-thirds of heavy commercial vehicle exports

    out of South Korea are from Tata Daewoo. In 2005, Tata Motors acquired a 21% stake in

    Hispano Carrocera, a reputed Spanish bus and coach manufacturer, with an option to

    acquire the remaining stake as well. Hispano's presence is being expanded in other

    markets. In 2006, it formed a joint venture with the Brazil-based Marcopolo, a global

    leader in body-building for buses and coaches to manufacture fully-built buses and

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    coaches for India and select international markets. In 2006, Tata Motors entered into joint

    venture with Thonburi Automotive Assembly Plant Company of Thailand to manufacture

    and market the company's pickup vehicles in Thailand. The new plant of Tata Motors

    (Thailand) has begun production of the Xenon pickup truck, with the Xenon having been

    launched in Thailand in 2008.

    Tata Motors is also expanding its international footprint, established through

    exports since 1961. The company's commercial and passenger vehicles are already being

    marketed in several countries in Europe, Africa, the Middle East, South East Asia, South

    Asia and South America. It has franchisee/joint venture assembly operations in Kenya,

    Bangladesh, Ukraine, Russia and Senegal.

    The foundation of the company's growth over the last 50 years is a deep

    understanding of economic stimuli and customer needs, and the ability to translate them

    into customer-desired offerings through leading edge R&D. With over 2,000 engineers

    and scientists, the company's Engineering Research Centre, established in 1966, has

    enabled pioneering technologies and products. The company today has R&D centres in

    Pune, Jamshedpur, Lucknow, in India, and in South Korea, Spain, and the UK. It was

    Tata Motors, which developed the first indigenously developed Light Commercial

    Vehicle, Indias first Sports Utility Vehicle and, in 1998, the Tata Indica, India's first fully

    indigenous passenger car. Within two years of launch, Tata Indica became Indias largest

    selling car in its segment. In 2005, Tata Motors created a new segment by launching the

    Tata Ace, India's first indigenously developed mini-truck.

    In January 2008, Tata Motors unveiled its People's Car, the Tata Nano, whichIndia and the world have been looking forward to. The Tata Nano has been subsequently

    launched, as planned, in India in March 2009. A development, which signifies a first for

    the global automobile industry, the Nano brings the comfort and safety of a car within the

    reach of thousands of families. The standard version has been priced at Rs.100,000

    (excluding VAT and transportation cost).

    Designed with a family in mind, it has a roomy passenger compartment with

    generous leg space and head room. It can comfortably seat four persons. Its mono-

    volume design will set a new benchmark among small cars. Its safety performance

    exceeds regulatory requirements in India. Its tailpipe emission performance too exceedsregulatory requirements. In terms of overall pollutants, it has a lower pollution level than

    two-wheelers being manufactured in India today. The lean design strategy has helped

    minimise weight, which helps maximise performance per unit of energy consumed and

    delivers high fuel efficiency. The high fuel efficiency also ensures that the car has low

    carbon dioxide emissions, thereby providing the twin benefits of an affordable

    transportation solution with a low carbon footprint.

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    In May 2009, Tata Motors introduced ushered in a new era in the Indian

    automobile industry, in keeping with its pioneering tradition, by unveiling its new range

    of world standard trucks. In their power, speed, carrying capacity, operating economy and

    trims, they will introduce new benchmarks in India and match the best in the world in

    performance at a lower life-cycle cost.

    In June 2009, the exciting new range of premium luxury vehicles from Jaguar and

    Land Rover were introduced for the Indian market. These include the Jaguar XF, XFR

    and XKR and Land Rover Discovery 3, Range Rover Sport and Range Rover.

    The years to come will see the introduction of several other innovative vehicles,

    all rooted in emerging customer needs. Besides product development, R&D is also

    focussing on environment-friendly technologies in emissions and alternative fuels.

    Through its subsidiaries, the company is engaged in engineering and automotive

    solutions, construction equipment manufacturing, automotive vehicle components

    manufacturing and supply chain activities, machine tools and factory automation

    solutions, high-precision tooling and plastic and electronic components for automotive

    and computer applications, and automotive retailing and service operations.

    True to the tradition of the Tata Group, Tata Motors is committed in letter and

    spirit to Corporate Social Responsibility. It is a signatory to the United Nations Global

    Compact, and is engaged in community and social initiatives on labour and environment

    standards in compliance with the principles of the Global Compact. In accordance with

    this, it plays an active role in community development, serving rural communitiesadjacent to its manufacturing locations.

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

    future.

    B. Products:

    TATA Safari TATA Indigo

    TATA Indigo SW

    TATA Indica

    TATA Sumo

    TATA Nano

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    C. Milestones

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

    excellence and leadership.

    1945 Tata Engineering and Locomotive Co. Ltd. was established to manufacture

    locomotives and other engineering products.

    1948 Steam road roller introduced in collaboration with Marshall Sons (UK).

    1954 Collaboration with Daimler Benz AG, West Germany, for manufacture ofmedium commercial vehicles. The first vehicle rolled out within 6 months

    of the contract.

    1959 Research and Development Centre set up at Jamshedpur.

    1961 Exports begin with the first truck being shipped to Ceylon, now Sri Lanka.

    1966 Setting up of the Engineering Research Centre at Pune to provide impetus

    to automobile Research and Development.

    1971 Introduction of DI engines.

    1977 First commercial vehicle manufactured in Pune.

    1983 Manufacture of Heavy Commercial Vehicle commences.

    1985 First hydraulic excavator produced with Hitachi collaboration.

    1986 Production of first light commercial vehicle, Tata 407, indigenously

    designed, followed by Tata 608.

    1989

    Introduction of the Tatamobile 206 - 3rd LCV model.

    1991 Launch of the 1st indigenous passenger car Tata Sierra.

    TAC 20 crane produced.

    One millionth vehicle rolled out.

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    1992 Launch of the Tata Estate.

    1993 Joint venture agreement signed with Cummins Engine Co. Inc. for the

    manufacture of high horsepower and emission friendly diesel engines.

    1994 Launch of Tata Sumo - the multi utility vehicle. Launch of LPT 709 - a full forward control, light commercial vehicle.

    Joint venture agreement signed with M/s Daimler - Benz / Mercedes -

    Benz for manufacture of Mercedes Benz passenger cars in India.

    Joint venture agreement signed with Tata Holset Ltd., UK for

    manufacturing turbochargers to be used on Cummins engines.

    1995 Mercedes Benz car E220 launched.

    1996

    Tata Sumo deluxe launched.

    1997 Tata Sierra Turbo launched.

    100,000th Tata Sumo rolled out.

    1998 Tata Safari - India's first sports utility vehicle launched.

    2 millionth vehicle rolled out.

    Indica, India's first fully indigenous passenger car launched.

    1999

    115,000 bookings for Indica registered against full payment within aweek.

    Commercial production of Indica commences in full swing.

    2000 First consignment of 160 Indicas shipped to Malta.

    Indica with Bharat Stage 2 (Euro II) compliant diesel engine launched.

    Utility vehicles with Bharat 2 (Euro II) compliant engine launched.

    Indica 2000 (Euro II) with multi point fuel injection petrol engine

    launched.

    Launch of CNG buses.

    Launch of 1109 vehicle - Intermediate commercial vehicle.

    2001 Indica V2 launched - 2nd generation Indica.

    100,000th Indica wheeled out.

    Launch of CNG Indica.

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    Launch of the Tata Safari EX

    Indica V2 becomes India's number one car in its segment.

    Exits joint venture with Daimler Chrysler.

    2002 Unveiling of the Tata Sedan at Auto Expo 2002.

    Petrol version of Indica V2 launched.

    Launch of the EX series in Commercial vehicles.

    Launch of the Tata 207 DI.

    2,00,000th Indica rolled out.

    5,00,000th passenger vehicle rolled out.

    Launch of the Tata Sumo'+' Series

    Launch of the Tata Indigo.

    Tata Engineering signed a product agreement with MG Rover of the UK.

    2003 Launch of the Tata Safari Limited Edition.

    The Tata Indigo Station Wagon unveiled at the Geneva Motor Show.

    On 29th July, J. R. D. Tata's birth anniversary, Tata Engineering becomes

    Tata Motors Limited.

    3 millionth vehicle produced.

    First CityRover rolled out

    135 PS Tata Safari EXi Petrol launched

    Tata SFC 407 EX Turbo launched

    2004 Tata Motors unveils new product range at Auto Expo '04.

    New Tata Indica V2 launched

    Tata Motors and Daewoo Commercial Vehicle Co. Ltd. sign investment

    agreement

    Indigo Advent unveiled at Geneva Motor Show

    Tata Motors completes acquisition of Daewoo Commercial Vehicle

    Company

    Tata LPT 909 EX launched

    Tata Daewoo Commercial Vehicle Co. Ltd. (TDCV) launches the heavy

    duty truck 'NOVUS' , in Korea

    Sumo Victa launched

    Indigo Marina launched

    Tata Motors lists on the NYSE

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    2005 Tata Motors rolls out the 500,000th Passenger Car from its Car Plant

    Facility in Pune

    The Tata Xover unveiled at the 75th Geneva Motor Show

    Branded buses and coaches - Starbus and Globus - launched

    Tata Motors acquires 21% stake in Hispano Carrocera SA, Spanish busmanufacturing Company

    Tata Ace, India's first mini truck launched

    Tata Motors wins JRD QV award for business excellence.

    The power packed Safari Dicor is launched

    Introduction of Indigo SX series - luxury variant of Tata Indigo

    Tata Motors launches Indica V2 Turbo Diesel.

    One millionth passenger car produced and sold

    Inauguration of new factory at Jamshedpur for Novus

    Tata TL 4X4, India's first Sports Utility Truck (SUT) is launched

    Launch of Tata Novus

    Launch of Novus range of medium trucks in Korea, by Tata Daewoo

    Commercial

    Vehicle Co. (TDCV)

    2006 Tata Motors vehicle sales in India cross four million mark

    Tata Motors unveils new long wheel base premium Indigo & X-over

    concept at Auto Expo 2006

    Indica V2 Xeta launched

    Passenger Vehicle sales in India cross one-million mark Tata Motors and Marcopolo, Brazil, announce joint venture to

    manufacture fully built buses & coaches for India & markets abroad

    Tata Motors first plant for small car to come up in West Bengal

    Tata Motors extends CNG options on its hatchback and estate range

    TDCV develops South Korea's first LNG-Powered Tractor- Trailer

    Tata Motors and Fiat Group announce three additional cooperation

    agreements

    Tata Motors introduces a new Indigo range

    2007 Construction of Small Car plant at Singur, West Bengal, begins on January

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    New 2007 Indica V2 range is launched

    Tata Motors launches the longwheel base Indigo XL, India's first stretch

    limousine

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    Common rail diesel (DICOR) engine extended to Indigo sedan and estate

    range

    Tata Motors and Thonburi Automotive Assembly Plant Co. (Thonburi),

    announce formation of a joint venture company in Thailand to

    manufacture, assemble and market pickup trucks. Roll out of 100,000th Ace

    Tata-Fiat plant at Ranjangaon inaugurated

    Launch of a new Upgraded range of its entry level utility vehicle offering,

    the Tata Spacio.

    CRM-DMS initiative crosses the 1000th location milestone

    Launch of Magic, a comfortable, safe, four-wheeler public transportation

    mode, developed on the Ace platform

    Launch of Winger, Indias only maxi-van

    Fiat Group and Tata Motors announce establishment of Joint Venture in

    India Launch of the Sumo Victa Turbo DI, the new upgraded range of its entry-

    level utility vehicle, the Sumo Spacio

    Tata Motors launches Indica V2 Turbo with dual airbags and ABS

    Launch of new Safari DICOR 2.2 VTT range, powered by a new 2.2 L

    Direct Injection Common Rail (DICOR) engine.

    Rollout of the one millionth passenger car off the Indica platform.

    2008 Ace plant at Pantnagar (Uttarakhand) begins production.

    Indica Vista the new generation Indica, is launched. Tata Motors' new plant for Nano to come up in Gujarat.

    Latest common rail diesel offering- the Indica V2 DICOR, launched.

    Indigo CS (Compact Sedan), worlds first sub four-metre sedan, launched.

    Launch of the new Sumo -- Sumo Grande, which combines the looks of an

    SUV with the comforts of a family car.

    Tata Motors unveils its People's Car, Nano, at the ninth Auto Expo.

    Xenon, 1-tonne pick-up truck, launched in Thailand.

    Tata Motors signs definitive agreement with Ford Motor Company to

    purchase Jaguar and Land Rover.

    Tata Motors completes acquisition of Jaguar Land Rover.

    Tata Motors introduces new Super Milo range of buses.

    Tata Motors is Official Vehicle Provider to Youth Baton Relay for The III

    Commonwealth Youth Games Pune 2008.

    Indica Vista the second generation Indica, is launched.

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    D. Balance sheet

    Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05

    Sources of funds

    Owner's fund

    Equity share capital 514.05 385.54 385.41 382.87 361.79

    Share application money - - - - -

    Preference share capital - - - - -

    Reserves & surplus 11,855.15 7,428.45 6,458.39 5,127.81 3,749.60

    Loan funds

    Secured loans 5,251.65 2,461.99 2,022.04 822.76 489.81

    Unsecured loans 7,913.91 3,818.53 1,987.10 2,114.08 2,005.61

    Total 25,534.76 14,094.51 10,852.94 8,447.52 6,606.81

    Uses of funds

    Fixed assets

    Gross block 13,905.17 10,830.83 8,775.80 7,971.55 6,611.95

    Less : revaluation reserve 25.07 25.51 25.95 26.39 -

    Less : accumulateddepreciation 6,259.90 5,443.52 4,894.54 4,401.51 3,454.28

    Net block 7,620.20 5,361.80 3,855.31 3,543.65 3,157.67

    Capital work-in-progress 6,954.04 5,064.96 2,513.32 951.19 538.84

    Investments 12,968.13 4,910.27 2,477.00 2,015.15 2,912.06

    Net current assets

    Current assets, loans &advances 10,836.58 10,781.23 10,318.42 9,812.06 7,248.88

    Less : current liabilities &provisions 12,846.21 12,029.80 8,321.20 7,888.65 7,268.80

    Total net current assets -2,009.63 -1,248.57 1,997.22 1,923.41 -19.92

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    Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05

    Miscellaneous expenses notwritten 2.02 6.05 10.09 14.12 18.16

    Total 25,534.76 14,094.51 10,852.94 8,447.52 6,606.81

    Notes:

    Book value of unquotedinvestments 12,358.84 4,145.82 2,117.86 1,648.57 2,480.15

    Market value of quotedinvestments 558.32 2,530.55 1,323.08 1,550.00 1,260.05

    Contingent liabilities 5,433.07 5,590.83 5,196.07 2,185.63 1,450.32

    Number of equity

    sharesoutstanding (Lacs) 5140.08 3855.04 3853.74 3828.34 3617.52

    Profit loss account

    Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05

    Income

    Operating income 25,660.67 28,767.91 26,664.25 20,088.63 17,199.17

    Expenses

    Material consumed 19,039.41 20,931.81 19,529.88 14,376.11 12,101.28

    Manufacturing expenses 1,171.59 1,230.14 1,200.36 929.82 830.45

    Personnel expenses 1,551.39 1,544.57 1,367.83 1,143.13 1,039.34

    Selling expenses 1,224.15 1,179.48 1,068.56 759.54 598.75

    Adminstrative expenses 1,867.05 1,982.79 1,488.16 1,042.52 911.73

    Expenses capitalised -916.02 -1,131.40 -577.05 -308.85 -282.43

    Cost of sales 23,937.57 25,737.39 24,077.74 17,942.27 15,199.12

    Operating profit 1,723.10 3,030.52 2,586.51 2,146.36 2,000.05

    Other recurring income 841.54 359.42 887.23 685.18 399.94

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    Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05

    Adjusted PBDIT 2,564.64 3,389.94 3,473.74 2,831.54 2,399.99

    Financial expenses 704.92 471.56 455.75 350.24 234.30

    Depreciation 874.54 652.31 586.29 520.94 450.16

    Other write offs 51.17 64.35 85.02 73.78 67.12

    Adjusted PBT 934.01 2,201.72 2,346.68 1,886.58 1,648.41

    Tax charges 12.50 547.55 660.37 524.93 415.50

    Adjusted PAT 921.51 1,654.17 1,686.31 1,361.65 1,232.91

    Non recurring items 79.75 374.75 227.15 167.23 4.04

    Other non cash adjustments 15.29 - -0.07 - -1.54

    Reported net profit 1,016.55 2,028.92 1,913.39 1,528.88 1,235.41

    Earnigs before appropriation 2,399.62 3,042.75 2,690.15 2,094.54 1,601.21

    Equity dividend 311.61 578.43 578.07 497.94 452.19

    Preference dividend - - - - -

    Dividend tax 34.09 81.25 98.25 69.84 63.42

    Retained earnings 2,053.92 2,383.07 2,013.83 1,526.76 1,085.60

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    Honda Siel Cars India Ltd

    FounderSoichiroHonda

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    A. Profile

    Honda Siel Cars India, Limited (HSCI) is a joint venture between the Honda

    Motor Company Limited, Japan and Siel Limited, a Siddharth Shriram Group company.

    It was begun in December 1995. The Honda City, its first offering introduced in 1997,

    revolutionized the Indian passenger car market and has ever since been recognized as an

    engineering marvel in the Indian automobile industry. The success of City as well as all

    its other models has led HSCI to become the leading premium car manufacturer in India.

    The total investment made by the company in India till date is Rs. 1620 crores, further

    investment of RS. 1000 crore is planned and being currently invested for the coming

    second plant in Rajasthan. The company has a capacity of manufacturing 100,000 cars

    Mr. Masahiro Takadegawa is the current President and CEO of HSCI. He took over this

    post in August 2005

    B. Manufacturing facility

    HSCI's manufacturing unit was set up in 1997 at Greater Noida, Uttar Pradesh.

    The initial investment was Rs. 450 crore. The plant was built on a plot of 150 acres. The

    initial installed capacity of the plant was 30,000 cars per annum. The current production

    capacity of the plant is 50,000 cars per annum. The production capacity expansion was

    facilitated by an investment of Rs.150 crores. The company plans to further raise its

    capacity to 100,000 units per annum by the end of 2007 and 150,000 units per annum by

    2010.[1] The company has planned a new and further more technologically advanced

    plant in Bhiwadi. The work for the same has been started and the plant will be functional

    in a year or two.

    The company operates under the stringent standards of ISO 9001 for quality

    management and ISO 14001 for environment management.

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    C. Vehicles

    HSCI launched its first car for the Indian market, the Honda City in 1997. TheCity was relaunched in 2003 as the Honda City ZX. The Honda Civic was launched inJuly 2006 which was followed by the upgrade of HSCI's first SUV, the Honda CR-V.The new CR-V was released in November, 2006. The Honda Accord, HSCI's offering inthe luxury car segment, was also facelifted in January 2007.

    The Honda City, Civic and Accord models are produced in India; the CR-V issold as a CBU import from Japan.

    Honda City

    Honda Accord

    Honda Civic

    Honda CR-V

    Honda Jazz

    D. Awards

    2006

    Best Indian Company (unlisted) by Business Standard Group

    Manufacturer of the Year by NDTV Profit-Car India

    Manufacturer of the Year by CNBC-TV 18 Autocar India

    No 1 Mid Size Car (Honda City); No 1 Entry Luxury Car (Honda Accord)and No 1 Premium SUV (Honda CR-V) by TNS

    Best Mid-size Car in Initial Quality (Honda City) and Most AppealingMid-size car (Honda City) by JD Power

    2005

    CNBC Autocar CAR of the year 2004 - Honda City

    ICICI Overdrive SUV of the Year 2004 - Honda CR-V

    ICICI Overdrive Car of the Year 2004 - Honda City

    Business Standard Motoring Car of the Year 2004 - Honda City

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    BALANCE SHEET

    All numbers in thousands

    PERIOD ENDING 31-Mar-09 31-Mar-08 31-Mar-07

    Assets

    Current Assets

    Cash And Cash Equivalents 7,110,801 10,614,110 8,037,141

    Short Term Investments - - -

    Net Receivables 22,911,341 25,465,090 22,923,361

    Inventory 12,812,798 12,112,526 10,056,486

    Other Current Assets 4,763,194 4,647,111 3,628,336

    Total Current Assets 47,598,133 52,838,837 44,645,324

    Long Term Investments 31,305,315 35,145,394 32,146,779

    Property Plant and Equipment 35,385,856 31,514,737 20,526,965

    Goodwill - - -

    Intangible Assets - - -

    Accumulated Amortization - - -

    Other Assets 7,445,540 7,918,016 4,991,183

    Deferred Long Term Asset Charges - - -

    Total Assets 121,734,845 127,416,984 102,310,250

    Liabilities

    Current LiabilitiesAccounts Payable 13,406,676 18,746,661 17,424,388

    Short/Current Long Term Debt 27,648,723 25,837,467 17,350,855

    Other Current Liabilities 2,589,492 2,669,228 1,668,737

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    Total Current Liabilities 43,644,890 47,253,355 36,443,980

    Long Term Debt 19,906,161 18,550,185 16,198,816

    Other Liabilities 11,599,860 11,204,304 7,834,144

    Deferred Long Term Liability Charges 4,041,390 3,079,823 2,686,408

    Minority Interest 1,267,477 1,432,241 1,044,710

    Negative Goodwill - - -

    Total Liabilities 80,459,779 81,519,908 64,208,057

    Stockholders' Equity

    Misc Stocks Options Warrants - - -

    Redeemable Preferred Stock - - -Preferred Stock - - -

    Common Stock 886,490 869,277 731,570

    Retained Earnings 52,522,450 51,509,828 39,566,565

    Treasury Stock (738,634) (726,463) (352,232)

    Capital Surplus 1,777,049 1,742,543 1,466,497

    Other Stockholder Equity (13,172,289) (7,498,109) (3,310,206)

    Total Stockholder Equity 41,275,066 45,897,077 38,102,194

    Net Tangible Assets $41,275,066 $45,897,077 $38,102,194

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    Non-recurring Events

    Discontinued Operations - - -

    Extraordinary Items - - -

    Effect Of Accounting

    Changes - - -

    Other Items - - -

    Net Income 1,411,152 6,060,394 5,034,737

    Preferred Stock And Other Adjustments - - -

    Net Income Applicable To Common Shares $1,411,152 $6,060,394 $5,034,737