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    Tata Motors: Sources of Funds

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    hitesh_shah
    This paper examines policy options for improving living conditions for the poor in India and reducing slums. It argues that directly providing housing through government programs would be prohibitively expensive, costing 20-30% of GDP. Instead, it recommends making the housing market work better to increase affordable options, and targeting subsidies only to households still unable to afford minimum shelter. This approach aims to make the goal of helping all urban poor attainable while maximizing the impact of limited government resources.

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    Tata Motors: Sources of Funds

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    hitesh_shah
    46 views4 pages
    This paper examines policy options for improving living conditions for the poor in India and reducing slums. It argues that directly providing housing through government programs would be prohibitively expensive, costing 20-30% of GDP. Instead, it recommends making the housing market work better to increase affordable options, and targeting subsidies only to households still unable to afford minimum shelter. This approach aims to make the goal of helping all urban poor attainable while maximizing the impact of limited government resources.

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    balance sheet

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    Tata Motors

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    This paper examines policy options for improving living conditions for the poor in India and reducing slums. It argues that directly providing housing through government programs would be prohibitively expensive, costing 20-30% of GDP. Instead, it recommends making the housing market work better to increase affordable options, and targeting subsidies only to households still unable to afford minimum shelter. This approach aims to make the goal of helping all urban poor attainable while maximizing the impact of limited government resources.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    46 views4 pages

    Tata Motors: Sources of Funds

    Uploaded by

    hitesh_shah
    This paper examines policy options for improving living conditions for the poor in India and reducing slums. It argues that directly providing housing through government programs would be prohibitively expensive, costing 20-30% of GDP. Instead, it recommends making the housing market work better to increase affordable options, and targeting subsidies only to households still unable to afford minimum shelter. This approach aims to make the goal of helping all urban poor attainable while maximizing the impact of limited government resources.

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    Tata motors

    Balance sheet

    in crores
    Mar ' 11

    Mar ' 10

    Mar ' 09

    Mar ' 08

    Mar ' 07

    634.65

    570.60

    514.05

    385.54

    385.41

    Share application money

    3.06

    Preference share capital

    19,351.40

    14,208.55

    11,855.15

    7,428.45

    6,458.39

    Secured loans

    7,766.05

    7,742.60

    5,251.65

    2,461.99

    2,022.04

    Unsecured loans

    8,132.70

    8,883.31

    7,913.91

    3,818.53

    1,987.10

    35,887.86

    31,405.06

    25,534.76

    14,094.51

    10,852.94

    21,883.32

    18,416.81

    13,905.17

    10,830.83

    8,775.80

    24.19

    24.63

    25.07

    25.51

    25.95

    8,466.25

    7,212.92

    6,259.90

    5,443.52

    4,894.54

    13,392.88

    11,179.26

    7,620.20

    5,361.80

    3,855.31

    4,058.56

    5,232.15

    6,954.04

    5,064.96

    2,513.32

    22,624.21

    22,336.90

    12,968.13

    4,910.27

    2,477.00

    Current assets, loans & advances

    14,775.61

    12,329.48

    10,836.58

    10,781.23

    10,318.42

    Less : current liabilities & provisions

    18,963.40

    19,672.73

    12,846.21

    12,029.80

    8,321.20

    Total net current assets

    -4,187.79

    -7,343.25

    -2,009.63

    -1,248.57

    1,997.22

    2.02

    6.05

    10.09

    35,887.86

    31,405.06

    25,534.76

    14,094.51

    10,852.94

    Sources of funds
    Owner's fund
    Equity share capital

    Reserves & surplus

    Loan funds

    Total

    Uses of funds
    Fixed assets
    Gross block
    Less : revaluation reserve
    Less : accumulated depreciation
    Net block
    Capital work-in-progress
    Investments

    Net current assets

    Miscellaneous expenses not written


    Total

    Profit loss account

    in crores
    Mar ' 11

    Mar ' 10

    Mar ' 09

    Mar ' 08

    Mar ' 07

    47,957.24

    35,373.29

    25,660.67

    28,767.91

    26,664.25

    34,692.83

    24,759.49

    19,039.41

    20,931.81

    19,529.88

    Manufacturing expenses

    2,224.74

    1,652.22

    1,171.59

    1,230.14

    1,200.36

    Personnel expenses

    2,294.02

    1,836.13

    1,551.39

    1,544.57

    1,367.83

    Selling expenses

    2,289.11

    1,583.24

    1,224.15

    1,179.48

    1,068.56

    Adminstrative expenses

    2,568.50

    2,249.92

    1,867.05

    1,982.79

    1,488.16

    -817.68

    -740.54

    -916.02

    -1,131.40

    -577.05

    43,251.52

    31,340.46

    23,937.57

    25,737.39

    24,077.74

    4,705.72

    4,032.83

    1,723.10

    3,030.52

    2,586.51

    420.69

    402.27

    841.54

    359.42

    887.23

    Adjusted PBDIT

    5,126.41

    4,435.10

    2,564.64

    3,389.94

    3,473.74

    Financial expenses

    1,383.79

    1,246.25

    704.92

    471.56

    455.75

    Depreciation

    1,360.77

    1,033.87

    874.54

    652.31

    586.29

    106.17

    144.03

    51.17

    64.35

    85.02

    2,275.68

    2,010.95

    934.01

    2,201.72

    2,346.68

    384.70

    589.46

    12.50

    547.55

    660.37

    1,890.98

    1,421.49

    921.51

    1,654.17

    1,686.31

    -79.16

    818.59

    79.75

    374.75

    227.15

    15.29

    -0.07

    Reported net profit

    1,811.82

    2,240.08

    1,016.55

    2,028.92

    1,913.39

    Earnigs before appropriation

    3,745.95

    3,926.07

    2,399.62

    3,042.75

    2,690.15

    Equity dividend

    1,274.23

    859.05

    311.61

    578.43

    578.07

    192.80

    132.89

    34.09

    81.25

    98.25

    2,278.92

    2,934.13

    2,053.92

    2,383.07

    2,013.83

    Income
    Operating income

    Expenses
    Material consumed

    Expenses capitalised
    Cost of sales
    Operating profit
    Other recurring income

    Other write offs


    Adjusted PBT
    Tax charges
    Adjusted PAT
    Non recurring items
    Other non cash adjustments

    Preference dividend
    Dividend tax
    Retained earnings

    Cash flow

    in crores
    Mar ' 11

    Mar ' 10

    Mar ' 09

    Mar ' 08

    Mar ' 07

    Profit before tax

    1,811.82

    2,240.08

    1,001.26

    2,028.92

    1,913.46

    Net cashflow-operating activity

    1,505.56

    6,586.03

    1,295.02

    6,174.50

    2,210.13

    -2,521.88

    -11,848.29

    -10,644.67

    -5,721.86

    -2,805.10

    1,648.42

    5,348.49

    8,104.70

    1,132.46

    303.58

    Net inc/dec in cash and equivlnt

    632.10

    86.23

    -1,244.95

    1,585.10

    -291.39

    Cash and equivalnt begin of year

    720.04

    630.04

    2,386.77

    806.21

    1,118.15

    1,352.14

    716.27

    1,141.82

    2,391.31

    826.76

    Net cash used in investing activity


    Netcash used in fin. activity

    Cash and equivalnt end of year

    This paper examines the policy options for India as it seeks to improve living conditions of
    the poor on a large scale and reduce the population in slums. Addressing the problem requires
    first a diagnosis of the market at the city level and a recognition that government
    interventions, rather than thwarting the operations of the market, should seek to make it
    operate better. This can substantially reduce the subsidies required to assist low income
    households to attain decent living standards. The authors show that government programs
    that directly provide housing would cost, in conservative estimates, about of 20 to 30 percent
    of GDP, and cannot solve a problem on the scale of Indias. Two powerful principles have
    guided urban land management policies in India, at least since the 1970s. First, keeping
    Indias cities livable means discouraging people from coming to large cities and distributing
    growth to rural areas and small secondary cities. Second, planning and other regulatory and
    financial policies coupled with rationing of urban services will actually prevent people from
    moving to cities and hence make them more livable. Together, these two principles are part
    of a broader philosophy underlying the thicket of policies commonly referred to as the
    license raj that grew up after Independence in India. As we argue below, a housing policy
    that supports cities without slums should involve: (1) making the market work better so that
    market-priced housing is more affordable; and (2) subsidies targeted primarily to the
    substantial share of the urban population that will still be too poor to afford socially
    acceptable minimum shelte conditions. Assistance to all those households, even if targeted
    carefully, will be large in relation to fiscal capacity. This paper proposes an approach
    designed to make the lofty goal of improving living conditions for all of Indias urban poor
    attainable, and maximize the effectiveness of government resources dedicated to this effort.

    Working with the Market


    Approach to Reducing Urban Slums in India
    Patricia Clarke Annez ,Alain Bertaud ,Bimal Patel ,V. K. Phatak

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