PRESENTED BY

Manendra & Team

INTRODUCTION

India’s largest business group

Diverse businesses in 7 sectors

International income 61% of group revenue

Operations in over 80 countries

Products and services exported to 85 countries

Largest employer in private sector over 300,000 employees

Group revenue FY 2008: Rs 251,543 cr/$ 62.5 bn

Group profit FY 2008: Rs 21,578 cr/$ 5.4 bn

The beginnings of Tata Group can be traced back to 1868,when Jamsetji Nusserwanji Tata established a trading company dealing in Opium in Bombay.

Sir Dorab Tata, the eldest son of Jamsetji became the chairman of the group after his fathers death in 1904.

After the death of Dorab Tata in 1934, Nowroji Saklatwala headed the group till 1938.

He was succeeded by JRD Tata till 1991.

Ratan Tata, the incumbent chairman of the group succeeded JRD Tata in 1991.

HISTORY

Improve the quality of lifeof the communities we servethrough leadership in sectors of national economic significance

Group Values

Tata Code of Conduct

Ownership Promoter Companies

66% Public Trust

Tata Sons18% Other corporate

shareholders

13% Tata Companies

3% Family

51% Other Tata Companies

Tata Industries29% Tata Sons

20% Jardine Matheson group

Tata Steel Advance Materials

Taj Hotels Tata AIG Life &

General Insurance Companies

Tata Tea Titan Trent

Tata Motors TACO Group Voltas

Tata Chemicals Rallis

Tata Power Tata BP Solar

Services

Materials Energy

Chemicals

EngineeringConsumer Products

Tata Consultancy Services

Tata Teleservices VSNL

IT and Communications

Business Sectors

Industry Pioneers

Role of Companies:

Committed to improving quality of life of surrounding communities.

CSR expenditure budgeted before preparation of P & L accounts.

Active volunteering programme in group. IIIustrative Initiative: Tata Steel: HIV/AIDS programme. TCS: Computer-based Adult Literacy Programme.

INFORMATION TECHNOLOGY AND COMMUNICATIONS

INFORMATION TECHNOLOGY

TATA CONSULTANCY SERVICESTATA TECHNOLOGIESTATA ELXSITATA INTERACTIVE SYSTEMSTATA BUSINESS SUPPORT SERVICESCOMPUTATIONAL RESEARCH LABORATORIES

COMMUNICATIONS

TATA TELESERVICESTATA COMMUNICATIONSTATA SKY

INFORMATION TECHNOLOGY TATA CONSULTANCY SERVICES

ESTABLISHED :1968MARKET CAP: Rs 47,242cr/$9.7bn

Pioneer & leader in Indian ServicesCurrent global ranking No 11: Revenue No 3: ProfitsGlobal footprint Clients in 50 countries: 6 of Fortune Top 10 Offices in 42 countries: Delivery Centers in 18 countries Over 1,16,000 AssociatesFull Service Provider: IT services BPO Infrastructure services Engineering and Industrial servicesVISION: GLOBAL TOP BY 10 BY 2010

REVENUE 07-08: $5.7bn

COMMUNICATIONS TATA INDICOM

ONE BRAND COMPREHENSIVE TELECOM SERVICE PORTFOLIO

SERVICES: FIXED & MOBILE, VOICE/DATA/VAS

SEGMENTS: CARRIERES,CORPORATE,SME and INDIVIDUALS

NETWORKS: DOMESTICS AND INTERNATIONAL

COMMUNICATIONS TATA COMMUNICATIONS

TAKEN OVER BY TATA : 2002MARKET CAP: Rs. 12078Cr/$2.5 bn

INDIA: ENTERPRISE DATA AND MANAGED SERVICESINTERNATIONAL AND DOMESTICS LONG DISTANCE SERVICES.INTERNET AND BROADBAND SERVICES

GLOBAL :

INTERNATIONAL WHOLESALE VOICE CARRIERSUBMERINE CABLE AND BRANWIDTHENTERPRICE CONNECTIVITY & MANAGED SERVICESENTRY INTO SOUTH AFRICA(NEOTEL) AND CHINA(CEC)

LISTED ON NYSEOBJECTIVE:TOP 3 SERVICE PROVIDER IN CHOOSEN MERKET

REVENUE 07-08: $2.12 bn

COMMUNICATIONS TATA SKY

ESTABLISHED: 2002

Direct-To-Home satellite TV services JV WITH STAR World class TV Viewing experience empowering customers with choice control and convenience DVD quality picture and CD quality soundRange of interactive servicesLaunched: Aug.2006, record 2.3million activations

ENGINEERING

AUTOMOTIVE:

TATA MOTORSTATA AUTOCOMP SYSTEMSTELCO CONSTRUCTION EQUIPMENT

ENGINEERING PRODUCTS,PROJECT AND SERVICES

VOLTASTATA PROJECTS

AUTOMOTIVES

ESTABLISHED :1945MARKET CAP: Rs:6,763cr/$1.4 bn

India’s largest Automobile company by revenueJaguar Land Rover part of portfolio.Leadership position in commercial vehicles

Global No 4 in M&HCV trucks; No 2 in BusesNo 3 in passenger car vehicles in IndiaStrongest Subsidiaries / Associates

Tata Daewoo, Hispano, Telcon, Tata Technologies,European Technical center in UK and Tata Motors inThailand

Objectives 2010: Doubles sales to >1m vehicles;Thrust on growing International presence

TATA-MOTORS

REVENUE 07-08: $8.8 bn

TATA MOTORS-NANO

Address largest part of the pyramids

Expanding Domestic Addressable Market

Price Rs:1,00,000 ~2000(exclusive VAT and freight) Among the World’s least expensive car.Family car-seats four comfortablyFully complaint with safety and emission norms.Engine: 623cc; 33PS250,000 capacity plant coming up Sanand,Gujarat

AUTOMOTIVE TATA AUTOCOMP SYSTEMS

ESTABLISHED:1995

Amongst fastest growing auto components and service provider Among top 5 Indian playersBUSINESSES:

Manufacturing: 35 facilitiesIncluding One each Germany and ChinaDesign and EngineeringSupply Chain15 Global PartnersOwn business in interior and plastics, suspension parts for passenger vehicles and Mobility TelematicsCustomers from all major global and Indian auto OMES.Objectives: To become a preferred Tier 1 supplier to Global automotive industry.

REVENUE 07-08: $ 843m

AUTOMOTIVS

Telco Construction Equipment Company

ESTABLISHED :1999REVENUE 07-08: Rs:2,735/$679.7m

60:40 JV of Tata Motors & Hitachi Construction Machinery.Domestic market leader in product and services for construction mining and earthmoving industries.

Design, manufacturing, servicing, marketing and sales capabilities.

Main Products: hydraulic excavators, backhoe loaders, wheeled loaders, off-highway dampers, crawler & tyre mounted cranes , compactors, motor graders.

Manufacturing Units: Jamshedpur; Dharwad; Kharagpur(up coming)

Acquired Serviplem S.A. (Spain)Design, manufacturing, sales and service of concrete equipmentsAcquired Comoplesa Lebrero S.A. (Spain)Design, manufacturing, sales and service of concrete equipments

Engineering Products, Projects and Services

VOLTASESTABLISHED :1954MARKET CAP: Rs.1,310 cr/$269m

Engineering Solutions in:

Electro-mechanical projects and servicesLargest exporter in IndiaLeading central air conditioning company in India

Cooling Products: commercial/homesIndia’s no 2 air-conditioner brand

Engineering product and servicesTextiles, material handling, mining and construction equipment and machine tools.

Objectives: Rs 10,000 cr ($2 bn) revenue by 2010-11

REVENUE 07-08: $774.4m

MATERIALS

METALS

TATA STEEL

COMPOSITES

TATA ADVANCE MATERIALS

METALS

TATA STEEL

ESTABLISHED :1907MARKET CAP: Rs 13,301 cr/ $2.7bn

Fortune 500 company

World’s 6th largest steel maker : 28 MTPA Jamshedpur works NatSteel Asia Corus Tata Steel,Thailand

Presence in 50 markets; manufacturing operation 24 countries.

Expansion plans:Brownfield: Jamshedpur worksGreenfield: India and Overseas

REVENUE 07-08: $ 32.83 bn

METALS

TATA STEEL GROUPCORUS

Europe's 2nd largest steel producer: 20 MTPA Main plant in UK and The Netherlands

Three main operating divisions- Strips Products,Long Products and Distribution & building Systems

Investment underway to reinforce competitive position in automotive and construction markets.Scunthrope, UK-new beam caster and wire rod mill upgrade (on stream 2008)IJmuiden, Netherlands – new cold rolling mill and continuous galvanizing line (on stream 2008-09)

COMPOSITES

TATA ADVANCED MATERIALSESTABLISHED :1999REVENUE 07-08: Rs 26 cr/$ 6.45m

Design, engineering, and manufacture of advanced composites

Products and Services:Aerospace and Aircraft componentsDesign and Engineering servicesPersonnel armour products- largest in IndiaVehicle armour solutions

Objectives: Rs 1000 cr/$200 m revenue by 2012-13

SERVICES

HOTELS AND REALITY

Indian Hotels( Taj hotels, Resorts, Palaces)Tata Reality and InfrastructureTata Housing

FINANACIAL SERVICESTata AIG Life and General InsuranceTata Asset ManagementTata Investment CorporationTata Capital

HOTELS

Taj Hotels, Resorts & PalacesESTABLISHED :1903MARKET CAP: Rs 2,778 cr/ $ 0.6 bn (Indian hotels only)

One of the Asia’s largest Hospitality GroupsLeading chain in India

87 hotels; 10,391 rooms; 12 countries; 5 continentsIndian Ocean Rim: luxury propertiesKey gateway cities- New York, Boston, San Francisco, London, Dubai, SydneyVenturing into China

“Smart Basics” hotels Ginger Hotels: exiting-14; 29 in the pipeline

Objective: 20,000 rooms by 2011

REVENUE 07-08: $ 1.08 bn

Address largest part of the pyramids

Indian Hotels- Ginger

Rs. 999-2,499 (single room) ($20-$50)“Smart Basics”

100+ rooms per hotel14 open; mostly in non-metros

Aggressive roll out: 30 hotels in 2 years;100+ by2011

ENERGY

POWER

Tata Power

Renewable Energy

Tata BP Solar

POWERTATA POWER

ESTABLISHED :1911MARKET CAP: Rs 16,447cr/$3.4 bn

Pioneered hydro power generation in India

Generation Capacity>2300 MW- largest private sector

Presence in generation (thermal, hydro, solar and wind), transmission and distribution

Expansion:>7,500 MW additional generation capacity by 2012

Objective: Aggressive addition in generation, transmission, distribution capacity in India

REVENUE 07-08: $ 2.8 bn

CONSUMER PRODUCT

BEVERAGES

Tata TeaTata Coffee

WATCHES AND JEWELLARY

Titan Industry

Retailing TrentInfiniti Retail

BEVERAGES

TATA TEA

ESTABLISHED :1964MARKET CAP: Rs 3,429 cr/$ 703m

World’s 2nd largest global branded tea operation Acquisition- Tetley, Good Earth, Jemca, Joekels & Vitax

Coffee- growing through:Higher value roast & grounded coffee (Eight O’clock coffee)Freeze dried/Instant coffee

Water: Himalaya Brand

Objectives: Beverage solution for consumers’ well being, nutrition and hydration. Global face in the beverage industry; grow 5X in 5 years

REVENUE 07-08: $ 1.1 bn

CHEMICALS

Tata Chemicals Rallis IndiaAdvinus Therapeutics

CHEMICALS

TATA CHEMICALS

ESTABLISHED :1939MARKET CAP: Rs 3,398cr/$ 0.7bn

Into inorganic chemicals, fertilizers, and food additives.

World No.2 in Soda Ash

Pioneer and market leader in branded, iodized salt

Total Produce Ireland JV for fruits and vegetables distribution.

Entering Bio-fuels Sector

Objectives: $ 4bn (18000 cr) revenues by 2012.

REVENUE 07-08: $ 1.7 bn

IDP is a fact sheet about the individual.

Is prepared by the manager of the employee.

Is endorsed by the Function/SBU Head and finally signed off by the CEO of the company.

Individual Development Profile

Work & Career Details

Performance Data

Personal Details: Age, Education

Tata WorkLevel & MCPA Assessment

Tata Leadership Practices Data

Development PlanIDP

Talent Management Schedule

Annual Performance Review & Development need discussions with individual employees

Manager / EmployeeApr - Jun

Talent Review within Business Unit/Function

BU Leadership TeamJun - Jul

Presentation of Talent Review by BU / Functional Leaders to MD/CEO

BU Leadership Team & CEOJul - Aug

Talent Review at Company level

Identification of HPMs and their Development and Movement Plans

CEO & HR HeadAug

Group PPM discussions

Agree on Development & Movement plans

CEO & Head HR and GCC / Peer MD / Group HRSep – Feb

Implement Development & Movement plans•In Company•Cross Company / Group Level

CEO & HR HeadSep - Mar

Implement agreed cross company Movement plans & Group level Development programs

CEO & Head HR and Group HROct – Sep

1 2 3

45

6

7&8

STRENGTH

EXPERIENCEMICRO ENVIRONMENTBUSINESS MODELRESOURCE AND CAPABILITIESCULTURE

WEAKNESS

VALUE CHAINDISTRIBUTIONMACRO ENVIRONMENT

OPPORTUNITIES

EXPORTS NEW PRODUCTSNEW MARKETSACQUISITION & MERGERS

THREAT

FREE MARKETLOW BARRIERSGLOBALISATION OF ECONOMY

SWOT ANALYSIS

STRATEGIES

GLOBAL EXPANSION THROUGH ACQUISITION

Low price strategy

Differentiation strategy

Reach to potential markets and repeatedly expending the value network

A hybrid strategy (differentiation & price lower)

“We have two guiding arrows. One points overseas, where we want to expand markets for our existing products. The other points right here, to India where we want to explore the large mass market that is emerging – not by following but by breaking new ground in product development and seeing how we can do something that hasn’t be done before.”

Ratan Tata Group Chairman

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

Sources of funds of  Tata steel(BALANCE SHEET TATA STEEL)

Owner's fund

Equity share capital

730.79 730.78 580.67 553.67 553.67

Share application money

- - 147.06 - -

Preference share capital

5,472.66 5,472.52 - - -

Reserves & surplus

23,501.15 21,097.43 13,368.42 9,201.63 6,506.25

Loan funds

Secured loans 3,913.05 3,520.58 3,758.92 2,191.74 2,468.18

Unsecured loans 23,033.13 14,501.11 5,886.41 324.41 271.52

Total 56,650.78 45,322.42 23,741.48 12,271.45 9,799.62

Uses of funds

Fixed assets

Net block 10,994.54 8,256.11 8,543.12 8,707.32 7,239.58

Capital work-in-progress

3,487.68 4,367.45 2,497.44 1,157.73 1,872.66

Investments 42,371.78 4,103.19 6,106.18 4,069.96 2,432.65

Net current assets

Current assets, loans & advances

11,591.66 38,196.34 14,671.91 4,997.00 4,935.90

Less : current liabilities & provisions

11,899.95 9,755.78 8,279.70 6,913.83 6,895.99

Total net current assets -308.29 28,440.56 6,392.21 -1,916.83 -1,960.09

Miscellaneous expenses not written

105.07 155.11 202.53 253.27 214.82

Total 56,650.78 45,322.42 23,741.48 12,271.45 9,799.62

Mar’09 Mar ' 08 Mar ' 07 Mar ' 06

Income

Operating income 24,348.32 19,654.41 17,452.66 15,132.09

Expenses

INCOME STATEMENT OF TATA STEEL LTD.

Cost of sales 15,171.88 11,409.87 10,538.91 9,247.87

Other recurring income

305.36 347.28 485.14 256.95

Financial expenses

1,489.50 929.03 251.25 168.44

Depreciation 973.40 834.61 819.29 775.10

Tax charges 2,114.87 2,380.28 2,040.47 1,734.38

Adjusted PAT 4,904.03 4,447.90 4,287.88 3,463.25

Non recurring items

297.71 239.13 -123.02 -4.37

Other non cash adjustments

- - 57.29 47.50

Reported net profit

5,201.74 4,687.03 4,222.15 3,506.38

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

Per share ratios

Reported EPS (Rs)69.70 63.85 72.74 63.35 62.77

Dividend per share 16.00 16.00 15.50 13.00 13.00

Operating profit per share (Rs)

125.60 112.85 119.11 106.31 107.61

Profitability ratios

Operating margin (%)

37.68 41.94 39.61 38.88 41.10

Gross profit margin (%)

33.69 37.70 34.91 33.76 36.83

Net profit margin (%)

21.09 23.43 23.53 22.78 23.72

Adjusted return on net worth (%)

19.87 20.42 31.19 36.44 50.27

RATIO ANALYSIS OF TATA STEEL

Leverage ratios

Total debt/equity 1.34 1.08 0.69 0.25 0.38

Owners fund as % of total source

42.77 48.16 59.12 79.49 72.04

Fixed assets turnover ratio

1.22 1.20 1.09 0.98 1.11

Liquidity ratios

Current ratio 0.97 3.92 1.77 0.72 0.71

Quick ratio 0.57 3.52 1.37 0.29 0.33

Inventory turnover ratio

9.36 10.84 10.81 9.89 10.42

Payout ratios

Dividend payout ratio (net profit)

27.15 29.39 26.15 23.39 23.64

Coverage ratios

Financial charges coverage ratio

6.37 9.25 29.45 36.46 26.72

Long term assets / total Assets

0.83 0.30 0.53 0.73 0.70

CONTD..

  Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06  Sources of fundsOwner's fund

Equity share capital 514.05 385.54 385.41 382.87

Reserves &surplus 11,855.15 7,428.45 6,458.39 5,127.81Loans & fundsSecured loans 5,251.65 2,461.99 2,022.04 822.76

Unsecured loans 7,913.91 3,818.53 1,987.10 2,114.08Total 25,534.76 14,094.51 10,852.94 8,447.52

Balance sheet of TATA MOTORS

Uses of funds

Fixed assets

Net block 7620.20 5361.80 3855.31 3543.65

Capital work-in-progress

6,954.04 5,064.96 2,513.32 951.19

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

Net current assets                                                                                            cont’d of tata motors

Current assets, loans & advances

10,836.58 10,781.23 10,318.42 9,812.06

Less : current liabilities & provisions

12,846.21 12,029.80 8,321.20 7,888.65

Miscellaneous expenses not

written2.02 6.05 10.09 14.12

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

INCOME STATEMENT OF TATA MOTORS CO

Mar’09 Mar’08 Mar’07 Mar’06

Income

Operating income 25660.67 28767.91 26664.25 20088.63

Expenses

Cost of sales 23937.57 25737.39 24077.74 17942.27

Other recurring income

841.54 359.42 887.23 685.18

Financial expenses

704.92 471.56 455.75 350.24

Depriciation 874.54 652.31 586.29 520.94

Other write offs 51.17 64.35 85.02 73.78

Tax charges 12.50 547.55 660.37 524.93

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

Non recurring items

79.75 374.75 227.15 167.23

Other non cash adjustments

15.29 - -0.07 -

Reported net profit

1,016.55 2,028.92 1,913.39 1,528.88

BALANCE SHEET OF TCS LTD.MAR ‘09 MAR’08 MAR’07

SOURCES OF FUNDS

OWNERS FUND

EQUITY SH CAP. 97.86 97.86 97.86

PREF SH CAP 100.00 100.00 -

RES.&SURPLUS 13248.39 10806.95 7961.13

LOANS FUNDS 13486.62 11023.06 8109.73

USES OF FUNDS

NET BLOCK 2669.08 1940.53 1460.61

CAPITAL WIP 685.13 889.74 757.85

INVESTMENTS 5936.03 4509.33 3252.04

NET CURRENT ASSETS

CURRENTS ASSETS,LOANS &ADVANCES

9250.79 7396.46 5294.74

LESS:CURRENT LIABILITY 5054.41 3713.00 2655.51

TOTAL NET CURRENT ASSETS

4196.38 3683.46 2639.23

TOTAL 13486.62 11023.06 8109.73

INCOME STATEMENT OF TCS LTD.Mar’09 Mar’08 Mar’07

Income

Operating income 22401.92 18533.72 14939.97

Expenses

Cost of sales 16381.09 13508.11 10638.49

Other recurring income

232.62 165.01 86.38

Financial expenses 7.44 3.42 3.43

depriciation 417.46 458.78 343.41

Tax charges 443.48 457.58 410.80

PAT 5385.07 4270.84 3630.22

Nonrecurring items -688.86 275.44 129.66

Other non cash adjust.

- -37.52 -2.59

Reported net profit 4696.21 4508.76 3757.29

31-Mar-09 31-Mar-08 31-Mar-07

Return on Total Assets (%) 41.23 38.81 48.44

Return on Networth (%) 34.93 40.97 46.62

Return on Capital Employed (%)

40.36 49.74 56.40

Profitability

Gross Margin (%) 35.40 35.00 36.98

Operating Margin (%) 25.01 23.61 26.49

Net Profit Margin (%) 20.96 24.65 25.15

Leverage

Debt/Equity ratio (x) -- -- 0.01

Interest Coverage (x) 809.25 1396.60 1253.90

RATIO OF TCS

Liquidity

Current Ratio (x) 1.27 1.46 1.55

Quick Ratio (x) 1.75 2.14 2.37

Working Capital

Per Share

Earnings Per Share (Rs)

-- 46.07 38.40

Dividend Per Share (Rs)

-- 14.00 11.50

Total Operating Income

22.49 22.42 33.03

THE PURPOSE OF THE TATA – IMPROVING THE QUALITY OF LIVES

ACTIVITIES

Endowments for creation of national institutions

Development assistance – including for livelihoods, health,education, micro-finance, bio-diversity,water harvesting.

Foreign scholarships – science and engineering Jn tata endowment

Disaster relief

CSR Contd…..

NATIONAL INSTITUTIONS

Indian Institute of ScienceTata Institute of Social Sciences(TISS)Tata Memorial HospitalTata Institute of Fundamental ResearchNational Centre for the Performing Arts

Other InitiativesTata Steel HIV/AIDS programmeTCS: Computer based Adult Literacy Programmes

THE QUESTIONS AHEAD OF TATA

the total debt of the Tata group as of the end of FY'09 at over Rs one trillion, of which Rs 117 billion is due through March 2010.

The total debt of the five major entities -- Tata Motors, Tata Steel, TCS, Tata Power and Tata Communications -- which account for 90 per cent of the group's revenues, is estimated at Rs 91,000 crore in FY2010, the analysts said. It includes:-

Tata Steel Rs 40,600 crore Tata Motors Rs 22,800 crore Tata Power Rs21,400 crore Tata Communication Rs 6,200 crore

"Within the group, the most pertinent issue remains Tata Motors' Rs 11,300 crore debt coming up for repayment/refinance in FY2010

Additionally, total capital expenditure for the group is Rs216 billion in financial year 2010, with a bulk of this coming from Tata Steel and Tata Power

Tata Power today said it has lined up nearly Rs 24,000 crore as capital expenditure in the next three years. (6th august 2009, Mumbai)

Tata steel is planning to spend Rs 40,000 crore to expand it’s production capacity to 16 million tonnes

Rating agency S&P (standard and poor's) downgraded Tata Motors rating to ‘B’ from ‘B+’ (Aug 4th , 2009)

Possible Measures

Tata Sons does not aggregate the debt of individual group companies as each company is a standalone legal entity and is evaluated accordingly."

MEASURES

Sake sales can be a possible measureTata motors can monetize its commercial vehiches division which is valued at Rs 12000 croreTata Motors can borrow upto Rs 11500 crores against the assets in the books

Tata motors announced a surprise quarterly profit July 28 of just under $107 million, investors took notice. Operating profit was up 11.4%, even though exports were down 43% and domestic sales were down about 10%.

A CLEAR VISION AND THE DEDICATION TO SERVE PRODUCES THE BEST OUTPUT AND LEADS TO GREATNESS

TATA.COMBROCHURE OF THE TATA GROUP KOTAK SECURITIES REPORT ON TATA