Tata Motors : 76th Annual Report 2020-2021 (Integrated)

76th Integrated Annual Report

2020-21

Performance snapshot FY 21

OPERATINGFINANCIALENVIRONMENTALSOCIAL

8,37,783	2,49,795	20%	7,58,053
Sales Volume	Revenues (K crore)	% of Renewable energy	Total Community
(Consolidated excluding CJLR)	(Consolidated)	Consumption to Total	Outreach (TML)
		Electricity Consumption (TML)
	12.2%	2,56,247
	EBITDA Margin	Scope 1+2 GHG Emissions
	(Consolidated)	(tCO2e) JLR

Resilience and Rebound

FY 21 was an extremely challenging year with the COVID-19 pandemic resulting in severe business disruptions.

Amid stringent restrictions on mobility and large-scale disruptions in supply chain, we demonstrated strong resilience, consolidated our core capabilities and stayed on course with our strategic objectives. Amid the lingering uncertainties in the operating environment, we staged a strong recovery, backed by our continued focus on operational efficiencies. As the restrictions eased, we swiftly shifted our gears, ramped up production and despite several challenges moved fast to serve consumer demand. Our strong financial performance amidst several headwinds truly reflects strong business fundamentals.

About the report

The 76th Integrated Annual Report 2020-21 of the Tata Motors Group outlines its financial and non-financial performance. The report narrates in detail how Tata Motors has delivered a resilient performance and recorded a sharp rebound while navigating strong economic and sectoral headwinds.

Contents

04 14 22

CORPORATE IDENTITY	PERFORMANCE	VALUE CREATION
04	Company Profile	16	Chairman's Message	24	Operating Context
06	Our Presence	18	TML CEO and MD's Message	26	Risk Management
08	Product Profile	19	JLR CEO's Message	30	Value-Creation Model
		20	Key Performance Indicators	32	Stakeholder Engagement
					and Materiality

SCOPE AND BOUNDARY

The Report covers the performance of Tata Motors Limited and Jaguar Land Rover, for the period starting from April 1, 2020 to March 31, 2021. The Report aims to provide a holistic view on our ability to create long-term value through our value-creation model, strategy, and environmental, social and governance (ESG) focus.

REPORTING STANDARDS AND FRAMEWORKS

The Report has been prepared in accordance with the framework prescribed by the International Integrated Reporting Council. The financial and statutory information has been presented as per the requirements of the Companies Act, 2013 and the rules made thereunder, the Indian Accounting Standards, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Secretarial Standards issued by the Institute of Company Secretaries of India.

INTEGRATED APPROACH

The Report showcases the initiatives undertaken across multiple capitals - financial, manufactured, human, intellectual, natural and social & relationship, and the value created under each of those capitals. We have also applied a sustainability lens (covering the environment, social and governance aspects) to evaluate our performance to better demonstrate our dependencies and impacts on each of these capitals.

MATERIALITY

The Report includes information that is material to our stakeholders and our value-creation abilities. We have also presented information on how we strategically approach these material issues. The material issues are reviewed by the Group management.

ASSURANCE

Assurance on financial statements has been provided by independent auditors BSR & Co. LLP and non-financial statements have been assured by TUV India Private Limited. The assurance has been given against the Report's adherence to the International Framework of the IIRC and the GRI's Sustainability Reporting Standards. The assurance report issued by TUV India Private Limited is available on our website www.tatamotors.com.

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34			50			68
STRATEGIC ROADMAP		ESG APPROACH	STATUTORY REPORTS
36	Tata Motors Limited	52	Environment	68	Board's Report
44	Jaguar Land Rover	58	Social - People, Community	90	Business Responsibility Report
				66	Governance	101	Management Discussion and Analysis
									128	Risk Factors
170			368		147	Report on Corporate Governance
FINANCIAL STATEMENTS		NOTICE
170 Standalone	368	Notice

250 Consolidated

Company Profile

Delivering mobility solutions across the world

Tata Motors Group is one of the leading global automobile manufacturers with a diversified portfolio of commercial, passenger, and luxury vehicles. Part of the multi-national conglomerate, the Tata Group, we have operations in India, the UK, South Korea, South Africa, China, Brazil, Austria and Slovakia through a strong global network of subsidiaries, associate companies and Joint Ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.

Integrated Report (1-67)	Statutory Reports (68-169)		Financial Statements (170-367)

Jaguar Land Rover

Jaguar Land Rover (JLR) continues to shape the future of modern luxury vehicles globally built around its iconic brands: Jaguar and Land Rover. JLR, which became part of Tata Motors Group in 2008, exemplifies quality and sustainability. JLR's new strategy is reimagining the future of modern luxury by design through a canvas of true sustainability and a new benchmark in quality. Jaguar Land Rover aspires to become the creator of the world's most desirable, luxury vehicles and services for the most discerning of customers.

COUNTRIES OF OPERATION	MARKET CAPITALISATION*	CUSTOMER TOUCHPOINTS
125+	US$ 14.60 BN	8,800+
Tata Motors Limited
Tata Motors Limited (TML) is one of India's biggest
automobile manufacturing companies with an extensive
range of integrated, smart and e-mobility solutions in its
portfolio. TML's strong presence over years is heralded by
its ability to offer quality products by connecting customer
aspirations with innovative mobility solutions.
Mission
We innovate mobility solutions with
passion to enhance the quality of life
Vision	Values
By FY 24, we will become the most
aspirational Indian auto brand,
consistently winning, by	INTEGRITY	ACCOUNTABILITY	EXCELLENCE

Other subsidiaries

TATA MOTORS FINANCE*

Tata Motors Finance Limited (TMFL) and Tata Motors Finance Solutions Limited (TMFSL) are Non-Banking Financial Companies (NBFCs). They are the subsidiaries of TMF Holdings Limited (TMFHL). TMFHL is a 100% subsidiary of TML and a Core Investment Company (CIC). TMFL facilitates new vehicle financing. TMFSL undertakes the dealer/ vendor financing business and the used vehicle refinance/repurchase business.

TATA DAEWOO & TATA TECHNOLOGIES LIMITED*

Tata Daewoo Commercial Vehicles (TDCV) and Tata Technologies Limited (TTL) are some of the key subsidiaries of Tata Motors Group. TDCV is Korea's second-largest truck maker, exporting to more than 60 countries across the world. Tata Technologies Limited is a leading company in engineering services outsourcing and product development IT services, providing a competitive edge to global manufacturers.

Revenue mix FY 21 (%)

1.8	0.1	13.3

6.8

78.0

− delivering superior financial returns
− driving sustainable mobility solutions
−	exceeding customer expectations, and
−	creating a highly engaged work force	CUSTOMER	SPEED
	TEAMWORK

FOCUS

*as on March 31, 2021

*The Integrated Report does not include information on these subsidiaries explicitly, except for the consolidated financial figures of the Tata Motors Group.

Tata and other brand vehicles - CV

Tata and other brand vehicles - PV

Jaguar Land Rover

TMFL Others

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| 76th Integrated Annual Report 2020-21

Resilience and Rebound |

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Integrated Report (1-67)	Statutory Reports (68-169)		Financial Statements (170-367)

Our Presence	3
Driving Change	Europe
02	76,606
Across Geographies		01

Manufacturing Vehicles Sold facilities

R&D/engineering and

design centres

C 34,045 CR

Revenue

	4		4
		UK	3
	05	81,500
5	Manufacturing	Vehicles Sold
	facilities

03 2

R&D/engineering and	1
design centres

C 37,244 CR

Revenue

2

China

01	112,424*
Joint	Vehicles Sold
Manufacturing
facility

C 44,687 CR

Revenue

* including CJLR

5	1
North America	India

10 465,734

01	93,759	Manufacturing	Vehicles Sold
facilities
R&D engineering	Vehicles Sold	02
and design
centres		R&D/engineering and
	design centres
C 46,947 CR	C 50,381 CR
Revenue

Revenue

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| 76th Integrated Annual Report 2020-21

Resilience and Rebound |

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