Published on February 20, 2008
Annual Press Conference: Annual Press Conference 11th June 2004 A Presentation in Two Parts: A Presentation in Two Parts Highlights of 2003-04 Market Financials Operations Technology Future Plans Capacity expansion Product Development / Launches Customer-centric initiatives 2003-04 Highlights: 2003-04 Highlights Market: Market Economy - Influences: Economy - Influences High GDP growth of 8.7% Industrial Production : 7% Agricultural Production : 19.6% Exports : 17.1%; Imports : 25.3% Favourable settings CV - Influences: CV - Influences Continuing road infrastructure development through Golden Quadrilateral and North South / East West corridors Continuing low interest and EMI make higher capacity vehicles attractive Government regulation on aged vehicles Favourable settings MDV TIV : Pass vs. Goods: Numbers Pass Goods MDV TIV : Pass vs. Goods Goods segment grows 45.2% Bus market returns to robust growth, up 18.4% Even growth across regions Source: SIAM High Growth Segments : High Growth Segments Healthy presence in growth segments MDV Market Share: MDV Market Share Market Share maintained in Goods segment Market share increased in Northern region Improved market share in growth sectors : MAV and Pvt. Passenger Overall Market Share drop due to loss of MS in STU sector AL - Exports: AL - Exports AL export grows 48.3% CNG buses seeded in South East Asian market : a promising introduction Composition of Sales: 4 468 5 085 48 654 3 782 35 44 837 33 483 11 354 2003-04 (6.4) Spares incl. Defence (Rs.Mil.) (14.2) Engines 33.5 Total Vehicles 48.3 Exports (89.1) Defence 33.5 Total 41.6 Goods 14.4 Passenger Domestic - Civilian % Inc. (Dec.) Composition of Sales 4 771 5 924 36 444 2 550 320 33 574 23 649 9 925 2002-03 Financials: Financials Slide13: Rs.Million Performance Highlights – 5 years: Performance Highlights – 5 years PBIT / Cap.Employed: PBIT / Cap.Employed Highest ROI achieved in current year PAT / Networth: PAT / Networth EPS (Rs.): EPS (Rs.) Debt Equity: Debt Equity Operations: Operations Capacity Utilization: Capacity Utilization 100% across all plants At 49,150, production of vehicles up 46% Productivity: Productivity Output per employee Asset Turns (Times): Asset Turns (Times) Inventory Turns (Times): Inventory Turns (Times) Current Assets Turns (Times): Current Assets Turns (Times) Cost Pressures : Commodity Prices: Cost Pressures : Commodity Prices Steel price increase average 68 % Copper price increase 29 % Margins come under pressure Vehicle price increase : 6.2% Over 2 years Cost Pressures : Power Tariff: Cost Pressures : Power Tariff Power Tariff up 10% (effective Jan ’03) compared to 02-03 9 % reduction in power consumption Manpower: Manpower Separation under VRS : 337 nos. VRS outflow : Rs.223.20 Million. Current strength at 12,007, down from 15,274 in 1996-97 Technology: Technology Focus on R & D: Focus on R & D R & D spend up from 1.2% of sale revenue in 02-03 to 2 % in 03-04. Technology Tie-ups with Hino Motors J Series Engines and with ZF for 9 speed GB. Newgen range prototypes unveiled in Jan’04 – powered by J series engine with potential to meet Euro 4 emission norms Megabus (CNG powered vestibuled bus) trials on in Delhi - performing well Investments in progress for Newgen Cab Project Focus on R & D (contd…): Focus on R & D (contd…) Substantial commitments made for improving vehicle testing capabilities. H series Euro III version successfully developed. AL Engine developed to meet Euro II emission standards. New Product introductions: New Product introductions Ecomet 912 Stag CNG & BS 2 3014 Tractor 1613 H 2516 H 4018 Tractor HMV 6 X 6 Future Plans: Future Plans Priorities: Priorities Capacity expansion through least cost route Technologically improved products to meet competition Productivity improvement Manage increase in input costs through cost reduction initiatives (Value Engineering and E-sourcing) Slide34: Capacity expansion Product Development / Launches Customer-centric initiatives Capacity Expansion contd..: Capacity Expansion contd.. Programme I Vehicle Capacity to be raised to 67,000 p.a Programme II New Aggregates / Product improvement (High Power / Torque) Engines / GB / Axles Expansion of Cab capacity Programme III Optimisation to increase capacity to 75,000 p.a. Programme IV Newgen product range 10,000 p.a. Rs. 2000 Mn. In 2004-05 and 2005-06 Rs. 2000 Mn. In 2004-05 and 2005-06 Capacity Expansion contd..: Capacity Expansion contd.. Capex : (Total including R & D, Replacements, etc.) 2004 – 05 : Rs. 3 000 Million. 2005 – 06 : Rs. 2 500 Million Target to contain Fixed Assets increase to 25% for Capacity increase to 55% Product Development / Launches: Product Development / Launches Buses with BS III engine: Q4 Newgen 4026 J tractor : August’ 04 Factory-built, 12 m Intercentury coach from IRIZAR-TVS : 180 hp (August’04); followed by rear engined version with 260 hp J engine Derivatives of Ecomet and Stag mini bus in diesel and CNG versions Work on for developing a Euro III engine with common Rail Fuel Injection System Ongoing Customer-centric Initiatives: Ongoing Customer-centric Initiatives Project ‘Ashwamedh ’ : 3,240 mechanics and 600 garages trained all over the country Project ‘MITR’ : technical knowledge of 900 retailers, 2,600 mechanics on Leyparts enriched Sadak ka Sathi : pilot project on “owning the customer” kicked off in the North-North East corridor On going Customer-centric Initiatives (contd…): On going Customer-centric Initiatives (contd…) 21 dealer outlets and 31 ASCs added during 2003-04, total service bays : 1,750 Dealers being empowered to administer warranty Call centres in Delhi, Jaipur and Indore. Helplines in Andhra Pradesh, Karnataka and Tamil Nadu 185 AMCs signed under ‘Vishvas’ Customer-centric Initiatives: Customer-centric Initiatives Equity partnership in model dealership Gulf Ashley Ltd, joint venture with Gulf Oil Experimentation in model dealership for total transport solutions - sales, service, parts and finance Offerings to include new range of service products Operations in weak areas of Jharkhand, Bihar and North East Other Events: Other Events ALF / IBL Merger completed; Focus to continue on vehicle financing Stock split approval from shareholders in the EGM held on Feb 28, 2004 AL Share Price vs. NSE Index: AL Share Price vs. NSE Index AL Share Price movement in line with index AL : Shareholding Pattern: AL : Shareholding Pattern Increase in FII holdings Thank You: Thank You
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