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Tata Motors: What in FY05?

Mar 30, 2004

After more than two years of one way ride, optimism towards auto stocks seem to be softening. Or it seems so. Tata Motors, which has risen from Rs 60 levels in mid 2001 to almost Rs 570 in the recent rally, has seen it share price declining by 17% since then. After our detailed third quarter analysis, we look at the recent events and validate our expectations for the year ahead.

Ashok Leyland: Net up 17% YoY

Apr 24, 2001

Ashok Leyland Ltd (ALL), the country's second largest manufacturer of commercial vehicles has reported a net profit of Rs 917 m for FY01, a growth of 16.8% YoY. The company's sales at Rs 22,524 m declined by only -0.2% YoY. This was better than the market as the industry volumes dropped by 22% for medium and heavy commercial vehicles.

Ashok Leyland: Prospects are brighter

Apr 23, 2001

The shareholders of Ashok Leyland Ltd (ALL) were relieved after the company reported a turnaround in 3QFY01. Due to higher operational efficiencies and improved working capital management the company was able to improve its performance, despite the decline in commercial vehicle volumes.

Ashok Leyland 3QFY01 net jumps 104%

Jan 29, 2001

Ashok Leyland has reported a net profit of Rs 194 m for the 3QFY01, a growth of 104% YoY. The company's sales fell by 6.1% in the 3QFY01, on the back of 22% drop in volumes and a 20% growth in average realisations during this quarter. However due to strict cost control measures the company's operating margins increased to 9.8% in the 3QFY01, an increase of 170 basis points.

Ashok Leyland net declines 18%

Oct 25, 2000

Ashok Leyland Ltd (ALL) has reported a net profit of Rs 149 m for the 2QFY01, which is a decline of 18% YoY. The company's sales showed a marginal improvement at Rs 6,187 m. The main reasons for the decline in net are slowdown in CV sales, higher emission related costs and higher interest costs for working capital needs.

Eicher Motors Ltd 3QFY01 net up 182% YoY

Jul 29, 2000

Eicher Motors has reported a net profit of Rs 12.4 m for 3QFY01, a growth of 182% YoY. The company's sales have grown by 45% YoY to Rs 847m.

Telco to go 100% Cummins

Mar 13, 2000

Tata Engineering Limited (Telco) is reported to be aggressively pursuing strategies to shift its customers to Cummins powered vehicles, which are Euro compliant. These vehicles are costlier than existing models.

Volvo plans to double HCV sales

Feb 23, 2000

Volvo India, plans to more than double sales of its multi-axle heavy vehicles to 500 units in the calendar year 2000.

Automobile Corp. posts Rs 25 m loss

Feb 10, 2000

Automobile Corporation of Goa has recorded loss of Rs 24.6 m in 3QFY2000. Sales declined 7.8% to Rs 120.1 m.

Telco's hive off plans hit price block

Jan 24, 2000

According to newspaper reports, Tata Engineering Limited (Telco) is planning to defer the plan to hive off some of its divisions. It has been reported that valuations quoted by interested parties are not in line with the company's expectations.

Telco's hive off plans hit price block

Jan 21, 2000

According to newspaper reports, Tata Engineering Limited (Telco) is planning to defer the plan to hive off some of its divisions. It has been reported that valuations quoted by interested parties are not in line with the company's expectations.

IT is the (hidden) jewel in the crown

Jan 15, 2000

To most investors, Mahindra & Mahindra's stock price seems overvalued compared to its peers in the automobile sector - Punjab Tractors, Hero Honda and TVS Suzuki. The most common grouse is why should there be a premium for a plain automobile play? What investors don't realise is that the premium is not on its auto business, but its infotech operations.

TELCO...Tractors?!?!?!

Dec 31, 1999

Tata Engineering & Locomotive Company (TELCO) will be unveiling two concept cars, an all-wheel drive rough terrain vehicle, a tractor and an army vehicle at the fifth Auto Expo in New Delhi beginning on January 12, 1999.

Eicher draws plans for foray in M/HCVs

Dec 20, 1999

Eicher Motors, light commercial vehicle (LCV) manufacturer is planning a break in the medium/heavy commercial vehicle (M/HCV) segment.

October sales cheer TELCO

Nov 19, 1999

October sales figures released by Tata Engineering & Locomotive Co. (TELCO) confirm the revival in HCV demand, with even LCVs showing glimpses of sales growth.

Ashok Leyland, TELCO CV sales head north

Nov 17, 1999

Ashok Leyland has posted 53% appreciation in commercial vehicle M/HCV sales in October 1999, while arch-rival TELCO has clocked 66% rise in sales. This was reported by a leading financial daily.

TELCO recoups UV market share

Nov 15, 1999

Tata Engineering & Locomotive Ltd.'s (TELCO) utilitu vehicle (UV) market share has increased dramatically from 18% in August 1999 to 29% in September. This was reported by a leading financial daily.

Bajaj Tempo net rises to Rs 21 m

Nov 3, 1999

Bajaj Tempo posted net profit of Rs 21 m in 2QFY2000. The turnaround in the company's fortunes is attributed to the upswing in CV demand.

Punjab Tractors posts 15% jump in net

Nov 2, 1999

Punjab Tractors has posted a net profit of Rs 355 m for the quarter ended 30th September 1999. The company has benefited from improved topline and operating efficiencies.

Swaraj Mazda posts sharp decline in net

Nov 1, 1999

Swaraj Mazda has witnessed an erosion in net profit margins during the quarter ended 30thSeptember 1999. The company has suffered on account of increased operating expenditure.


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