Tata Motors
The Tata Motors Group global wholesales in April 2013, including Jaguar Land Rover, were 81,241 units. Global sales of all commercial vehicles – Tata, Tata Daewoo and the Tata Hispano Carrocera range – totalled 39,969 units, while those of all passenger vehicles in April 2013 were 41,272 units.
Global wholesales for Jaguar Land Rover for the month were 28,874 units. While Jaguar wholesales were 5,334 units, Land Rover wholesales were 23,540 units.
Gulf Oil
Gulf Oil Corporation Ltd. has reported a seven per cent increase in income in Q4. For the year ended March 31, 2013, the turnover was Rs. 1,081 crores and profit after tax Rs. 53 crores. The Board has recommended a dividend of Rs. 2.20 (110 per cent), a payout of 48 per cent.
The Lubricants Division continued to record growth in revenues and volumes in the fourth quarter of 2012-13. The gross turnover for the quarter increased to Rs. 235 crores as compared to Rs. 213 crores in the corresponding quarter of the previous year, registering a growth of 10 per cent. Operational profit before interest and tax for the quarter moved up by 13 per cent to Rs. 26 crores from Rs. 23 crores, mainly on account of higher volumes achieved by the Division.
For the year ended March 31, 2013, the Lubricants Division achieved a turnover of Rs. 843 crores (Rs. 756 crores), a growth of 12 per cent. Operational profit before interest and tax for the year increased by 13 per cent to Rs. 106 crores (Rs. 94 crores). Operational results also reflect the effective margin management strategy pursued by the Division.
The overall demand for lubricants was subdued due to the lower goods movement, flat / negative growth of the automobile, infrastructure, mining and industrial sectors. The Lubricants Division continued its growth momentum and recorded positive volume growth across all geographies and segments which were well ahead of its major competitors. This faster growth is resulting in increased market share for the Division across segments.
In the fourth quarter, the Division strengthened its position in the new generation diesel engine segment by increasing sales of its new Gulf Super Fleet Turbo range of products which was launched earlier in the year to meet the requirements of the latest generation of commercial vehicles like Tata Motors, Eicher, etc. The product range has received very positive response from consumers and trade.
M&M
The gross revenues and other income of Mahindra & Mahindra Ltd. for the quarter ended March 31, 2013, is Rs. 11,365.8 crores as against Rs. 10,288.4 crores during the corresponding period last year, a growth of 10.5 per cent. Profit before exceptional items and tax for the quarter is Rs. 1,112.2 crores (Rs. 794.3 crores), representing a growth of 40.0 per cent. After considering exceptional items and tax, the net profit for the current quarter is Rs. 889.2 crores (Rs. 874.5 crores), a growth of 1.7 per cent.
The gross revenues and other income of Mahindra & Mahindra Ltd. and Mahindra Vehicle Manufacturers Ltd. (MVML) during the quarter ended March 31, 2013, is Rs. 11,342.3 crores as against Rs. 10,333.6 crores in the previous year, a growth of 9.8 per cent. Profit before exceptional items and tax for the current quarter is Rs. 1,230.4 crores (Rs. 868.0 crores), a growth of 41.8 per cent. The operating margin for the combined entity in the quarter is 14.4 per cent (12 per cent). The good growth in the operating margin and profits of the entity during the quarter is due to a strong sales performance by its Automotive Sector and its relentless focus on cost control.
The gross revenues and other income of Mahindra & Mahindra Ltd. and MVML during the year ended March 31, 2013, is Rs. 43,655.3 crores as against Rs. 35,005.2 crores in the previous year, representing a growth of 24.7 per cent.
IndianOil
IndianOil
Mr. RS Butola, Chairman, said: “IndianOil sold 76.237 million tonnes of products, including exports, during 2012-13. Our refining throughput for FY 2012-13 was 54.650 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 75.495 million tonnes during the same period. The gross refining margins during 2012-13 were $2.26 per bbl as compared to $3.63 per bbl in 2011-12.”
CEAT
On a consolidated basis, CEAT Ltd. reported revenue of Rs. 5,009 crores in 2012-13. With a revenue growth of nine per cent, profit after tax stood at Rs. 120.2 crores, up from Rs. 18.2 crores in 2011-12.
Mr. Anant Goenka, Managing Director, CEAT Ltd., said: “This financial year has been a positive story for us. We have witnessed an EBITDA expansion of 320 BPS for the full year on account of higher realizations due to change in product mix and soft raw material prices. We have consolidated our position in the 2-wheeler segment by increasing our market share. Focused advertising campaigns have been a key catalyst to this market share growth. Going forward, we will continue our investments in building a strong brand”.
As for the Q4 performance, the company recorded revenue of Rs. 1,298 crores. EBITDA stood at 10.7 per cent compared to 10.4 per cent in the corresponding quarter of the previous year. The combined net sales for Q4 is Rs. 1,333 crores and the consolidated EBITDA margin stood at 10.8 per cent.
Mr. Manish Dugar, Chief Financial Officer, CEAT Ltd., observed: “With improved operational efficiency and focus on tight working capital management, we have been able to reduce our debt by Rs. 273 crores to Rs. 1,038 crores from Rs. 1,311 crores in FY 12. However, debt reduction took place mainly in the last 2 quarters, and the benefit of lower base rate was effective February’13. Hence the impact on the overall interest cost will be felt in the subsequent quarters.”
Rane Holdings
Rane Holdings Ltd.’s consolidated sales & operating income for 2012-13 was Rs. 1,935.96 crores as against Rs. 1,861.71 crores in the previous year. The Board has recommended a final dividend of 45 per cent. This, together with interim dividend of 35 per cent already paid, makes a total dividend of 80 per cent for 2012-13 as against 100 per cent the previous year.
During the year, the domestic automotive industry had not witnessed growth in any segments, except utility vehicles and light commercial vehicles. Rane Group companies’ sales in the domestic market grew by 11 per cent and exports declined by eight per cent over the last year. The acute power crises in Tamil Nadu and Andhra Pradesh and adverse foreign exchange fluctuations affected profitability of the group companies. However, they effectively managed costs by deploying value engineering, optimizing power cost by using a judicious mix of wind power and purchases from the power exchanges, hedging of foreign exchange exposures and shifting production to lower cost plants within the companies.
Rane (Madras)
Rane (Madras) Ltd. of the Rane Group registered sales & operating income of Rs. 639.87 crores for the current fiscal year as against Rs. 670.75 crores for the previous year ended March 31, 2012. The Board has recommended a final dividend of 50 per cent. This, together with the interim dividend of 20 per cent already paid, makes a total dividend of 70 per cent for 2012-13 as against 95 per cent for the previous year.
During 2012-13, the domestic automotive industry had not witnessed growth in any segment except utility vehicles and light commercial vehicles. Though the company’s domestic sales declined by nine per cent, export markets grew by 20 per cent over the last year.
Kar Mobiles
Kar Mobiles Ltd. (KML), a part of the Rane Group and a leading auto components manufacturer of large engine valves for power generation, marine and special applications, registered sales & operating income of Rs. 123.50 crores during 2012-13, representing a growth of four per cent against Rs. 118.81 crores for the previous year ended March 31, 2012. The Board has recommended a final dividend of 25 per cent. This, together with the interim dividend of 20 per cent already paid, makes a total dividend of 45 per cent for 2012-13 as against 85 per cent for the previous year.
During the year under review, the domestic automotive industry had not witnessed growth in any segment except utility vehicles and light commercial vehicles. While overall domestic industry sales registered a marginal growth, export growth came under pressure due to weak expansion in developed countries.
Over the same period of last year, KML sales in the domestic after-market grew by four per cent and export market grew by 12 per cent. However, higher input costs resulted in drop in profit for the year.
Eicher
Commenting on VECV’s performance, Mr. Siddhartha Lal, Managing Director & CEO, Eicher Motors Ltd., said: “The commercial vehicle industry has been in the midst of a down-cycle and that has impacted all the players, including VECV. This has been a challenging quarter for the CV industry, but even in these trying times VECV has continued to outpace the industry and improved its overall CV market share across all industry segments. VECV posted a strong financial performance in tough market conditions with its sharp focus on managing costs and working capital.”
HPCL
Hindustan Petroleum Corporation Ltd. (HPCL) has registered gross sales of Rs. 2,15,675 crores for 2012-13 as against Rs. 1,88,131 crores in the previous year, representing an increase of over 14.6 per cent. Sales of petroleum products in the domestic market were at an all-time high of 29.07 million tonnes during 2012-13, registering an increase of 4.6 per cent over the previous year, as against the industry growth rate of 3.6 per cent. The pipeline throughput increased to 14.04 million tonnes from 13.62 million tonnes in the previous year.
The refineries at Mumbai and Visakhapatnam processed 15.78 million tonnes of crude during the year. The combined GRM during the year was $2.08/bbl.
On the financial front, profit after tax for January-March 2013 increased by 66 per cent to Rs. 7,679 crores, up from Rs. 4,631 crores in the corresponding quarter of the previous year. This was primarily because of higher compensation for under-recoveries during the quarter, higher marketing margins and better inventory management.
Profit before tax for 2012-13 was also higher by 21 per cent at Rs. 1,475 crores (Rs. 1,219 crores). However, profit after tax for the year was Rs. 905 crores (Rs. 911 crores), mainly due to higher provision for tax.
HPCL has proposed a dividend of Rs. 8.50 per share for 2012-13. The dividend would result in a total payout of Rs. 337 crores, including dividend distribution tax.
STFC
Shriram Transport Finance Company Ltd. (STFC) has registered a consolidated net interest income for the fourth quarter ended March 31, 2013, which is 12.76 per cent higher at Rs. 952.10 crores as against Rs. 844.34 crores in the same period of the previous year. Profit after tax surged by 16.63 per cent to Rs. 383.46 crores (Rs. 328.77 crores). The earning per share (basic) also surged by 16.31 per cent to Rs. 16.90 (Rs. 14.53).
Net interest income for the year ended March 31, 2013, increased by 9.52 per cent to Rs. 3,657.84 crores as against Rs. 3,339.98 crores of the previous year. Profit after tax increased by 11.81 per cent to Rs. 1,463.42 crores (Rs. 1,308.81 crores). The earning per share (basic) also moved up by 11.51 per cent to Rs. 64.52 (Rs. 57.86).
As for financials (standalone), net interest income for the fourth quarter ended March 31, 2013, soared by 10.96 per cent to Rs. 893.88 crores as against Rs. 805.59 crores in the same period of the previous year. Profit after tax surged by 15.31 per cent to Rs. 355.22 crores (Rs. 308.06 crores). The earning per share (basic) for the quarter surged by 14.98 per cent to Rs. 15.66 (Rs. 13.62).
Net interest income for the year ended March 31, 2013, increased by 7.21 per cent to Rs. 3,458.82 crores as against Rs. 3,226.13 crores of the previous year. Profit after tax moved up by 8.20 per cent to Rs. 1,360.62 crores (Rs. 1,257.45 crores). The earning per share (basic) for the year ended also moved up by 7.90 per cent to Rs. 59.98 from Rs. 55.59.
STFC has proposed a final dividend of Rs. 4 per share. This is in addition to the interim dividend of Rs. 3 per share declared on October 30, 2012, making the total dividend of Rs. 7 per share as against Rs. 6.50 for 2011-12.