2000 2001 2002 2003 2004 2005 2006

Net Sales 6,990 6,717 7,075 7,180 9,104 10,924 12,016

Sales Volume 406,272 350,433 352,197 362,253 472,122 536,301 561,819
Unit Realisation 172,040 191,674 200,871 198,207 192,840 203,688 213,875
General Inflation 3.4% 3.8% 4.3% 4.0% 3.9% 3.8% 4.4%
Growth in GDP at Constant Prices 8.8% 3.8% 4.8% 3.8% 7.9% 7.9% 7.9%

Growth in Net Sales -3.9% 5.3% 1.5% 26.8% 20.0%Changes

10.0%in Unit Selling & M
Growth in Sales Volume -13.7% 0.5% 2.9% 30.3% 13.6% 4.8% Sales V
Growth in Unit Realisation 11.4% 4.8% -1.3% -2.7% 5.6% 5.0% 20.0%

Unit Operating Cost 169,879 206,453 204,354 196,597 183,614 186,203 190,002
Unit Manufacturing Cost 146,707 181,658 174,624 168,827 161,651 168,359 170,580 15.0%
Unit Employee Cost 4,571 5,685 6,452 6,013 6,222 3,570 3,764
Unit Selling & Marketing Cost 10,466 11,474 13,688 13,239 8,599 6,761 6,337
10.0%
Unit Royalty and technical fees 3,367 3,267 3,436 3,117 2,402 3,703 4,528

Changes in Unit Selling & Marketing Cost 9.6% 19.3% -3.3% -35.0% -21.4% R² =-6.3%
0.158175992152997 5.0%

Inventory 990 866 681 487 440 667 881

0.0%
Receivables 466 676 839 671 689 600 -30.0%646-20.0%
-40.0% -10.0% 0.0

Market Share 58.0% 59.6% 55.6% 55.7% 55.1% 55.6% -5.0%

Sale Volume by Product Group

Domestic Passenger Vehicle Volume 335,076 340,182 330,175 420,947 487,402 527,038
Domestic LCVs - - - - - -
Domestic Vehicle Sales Volume 335,076 340,182 330,175 420,947 487,402 527,038
Export Volume 15,300 12,233 32,240 51,175 48,899 34,784
OEM Volume - - - - - -
MSIL Sales Volume 350,376 352,415 362,415 472,122 536,301 561,822
Domestic Car Market 577,717 570,775 593,840 755,740 884,577 947,910
4.6% 3.6% 9.8% 12.2% 10.0% 6.6%
Sales Outlet - - - - - -
Nexa - - - - - -
Commercial - - - - - -
Small Format Outlet - - - - - -
Sales Network: Outlets 221 253 267 280 325 375
Sales Network: Cities 135 156 169 182 197 227

Service Network: Outlets 1,684 1,899 1,887 1,920 1,995 2,096

Service Network: Cities - - 902 1,001 1,052 1,092

JD Power Survey: MSIL - - - - - -

JD Power Survey: Ind - - - - - -
Customer Delight Index - - - - - -
Sale Volume Reconciliation 57 (218) (162) - - (3)
 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
14,696 17,892 20,454 29,099 36,618 35,587 43,588 43,646 49,971 57,746
674,924 764,842 792,167 1,018,365 1,271,005 1,133,695 1,171,434 1,155,041 1,292,415 1,429,248
217,747 233,925 258,199 285,741 288,106 313,904 372,090 377,877 386,645 404,033
6.7% 6.2% 9.1% 12.4% 10.4% 8.4% 9.9% 9.4% 5.9% 4.9%
8.1% 7.7% 3.1% 7.9% 8.5% 5.2% 5.5% 6.4% 7.4% 8.0%

Changes in Unit22.3%
Selling &21.7%
Marketing14.3%
Cost & Growth
42.3% in 25.8% -2.8% 22.5% 0.1% 14.5% 15.6%
20.1% Sales 13.3%
Volume 3.6% 28.6% 24.8% -10.8% 3.3% -1.4% 11.9% 10.6%
1.8% 20.0%7.4% 10.4% 10.7% 0.8% 9.0% 18.5% 1.6% 2.3% 4.5%

192,278 211,365 249,026 260,194 267,453 301,779 351,872 351,014 353,818 360,971
170,455 15.0%
187,862 217,122 230,965 234,009 261,602 300,908 297,302 298,386 299,343
3,945 4,534 5,851 5,283 5,536 7,068 9,131 11,845 12,431 13,914
7,407 7,324 9,319 8,995 7,553 8,784 10,039 10,336 11,318 13,031
10.0%
5,442 6,475 8,573 9,985 14,890 15,905 20,947 21,524 20,562 22,699

R² = 0.158175992152997
16.9% 5.0%-1.1% 27.2% -3.5% -16.0% 16.3% 14.3% 3.0% 9.5% 15.1%

701 1,038 902 1,209 1,415 1,797 1,841 1,706 2,686 3,132
0.0%
-30.0% -20.0% 747
-10.0% 656
0.0% 10.0% 93820.0% 810
30.0% 825
40.0% 938 1,470 1,414 1,070 1,322

54.8% -5.0%
45.9% 46.5% 44.6% 45.3% 38.3% 39.4% 42.1% 45.0% 46.8%

635,629 711,818 722,144 870,790 1,132,739 1,006,316 1,051,046 1,053,689 1,170,702 1,305,351
- - - - - - - - - -
635,629 711,818 722,144 870,790 1,132,739 1,006,316 1,051,046 1,053,689 1,170,702 1,305,351
39,295 53,024 70,023 138,266 147,575 127,379 120,388 101,352 121,713 123,897
- - - - - - - - - -
674,924 764,842 792,167 1,009,056 1,280,314 1,133,695 1,171,434 1,155,041 1,292,415 1,429,248
1,159,907 1,549,882 1,552,703 1,951,333 2,501,542 2,629,839 2,665,015 2,503,509 2,601,236 2,789,208
6.2% 7.4% 9.7% 15.9% 13.0% 12.7% 11.5% 9.6% 10.4% 9.5%
- - 460 483 509 541 564 568 574 -
- - - - - - - - - 127
- - - - - - - - - -
- - 221 319 424 559 640 742 1,045 1,820
491 600 681 802 933 1,100 1,204 1,310 1,619 1,947
312 393 454 555 668 801 874 980 1,226 1,471

2,393 2,628 2,724 2,851 2,946 2,958 2,965 3,047 3,086 3,145
1,172 1,220 1,314 1,335 1,395 1,408 1,423 1,454 1,471 1,506

- 824 820 824 849 879 879 876 890 906

- - 780 785 812 824 834 834 856 866
- - - - - - - - - -
- - - 9,309 (9,309) - - - - -
 2017 2018 2019 2020 2021 2022 2023 CAGR
68,035 79,763 86,020 75,611 70,372 88,330 117,571 13.9%
1,568,603 1,779,574 1,862,449 1,563,297 1,457,861 1,652,653 1,966,164 8.2%
433,729 448,212 461,867 483,661 482,707 534,473 597,973 5.3%
4.5% 3.6% 3.4% 4.8% 6.2% 5.5% 6.7% 6.1%
8.3% 6.8% 6.5% 3.9% -5.8% 9.1% 7.2% 6.2%

17.8% 17.2% 7.8% -12.1% -6.9% 25.5% 33.1%

9.8% 13.4% 4.7% -16.1% -6.7% 13.4% 19.0%
7.3% 3.3% 3.0% 4.7% -0.2% 10.7% 11.9%

384,324 395,932 419,018 459,501 466,811 516,821 556,308 4.6%

322,686 332,929 345,273 371,112 375,440 425,476 462,765 4.3%
14,860 15,924 17,476 21,646 23,539 24,515 23,572 6.7%
12,122 13,910 17,239 22,172 22,957 25,975 27,122 4.0%
24,531 21,169 24,153 24,418 22,100 18,185 21,472 8.9%

-7.0% 14.8% 23.9% 28.6% 3.5% 13.1% 4.4%

3,262 3,161 3,326 3,215 3,049 3,532 4,284 7.5%

1,199 1,462 2,310 2,127 1,280 2,035 3,301 7.5%

47.4% 50.0% 51.2% 51.0% 47.7% 43.4% 41.5% -1.5%

1,443,641 1,643,467 1,729,826 1,414,346 1,293,840 1,331,558 1,614,456 7.4%

900 10,033 23,874 21,778 29,556 33,719 33,763
1,444,541 1,653,500 1,753,700 1,436,124 1,323,396 1,365,277 1,648,219 7.5%
124,062 126,074 108,749 102,171 96,139 238,376 259,333 13.7%
- - - 25,002 38,326 49,000 58,612
1,568,603 1,779,574 1,862,449 1,563,297 1,457,861 1,652,653 1,966,164 8.2%
3,047,582 3,288,581 3,377,389 2,773,519 2,711,457 3,069,499 3,890,114 9.1%
8.6% 7.6% 6.2% 7.1% 7.3% 17.5% 15.7%
- - - - - - -
252 316 360 375 380 410 460
40 190 310 321 327 359 379
2,020 2,121 2,264 2,390 2,413 2,588 2,801
2,312 2,627 2,934 3,086 3,120 3,357 3,640 13.6%
1,652 1,735 1,859 1,964 1,992 2,156 2,349 13.9%

3,305 3,403 3,614 3,864 4,044 4,254 4,564 4.6%

1,570 1,659 1,784 1,914 2,014 2,134 2,304 4.8%

- - - - - - -
- - - - - - -
- - 113 114 115 121 127
- - - - - - -
 2000 2001 2002 2003 2004 2005 2006 2007
Net Sales 6,990 6,717 7,075 7,180 9,104 10,924 12,016 14,696
Sales Growth (273) 358 106 1,924 1,819 1,092 2,680
% -3.90% 5.33% 1.49% 26.80% 19.98% 10.00% 22.31%
Sales Volume 406,272 350,433 352,197 362,253 472,122 536,301 561,819 674,924
Unit Realisation 172,040 191,674 200,871 198,207 192,840 203,688 213,875 217,747

Growth Drivers 0.00% -2.33% 5.30% 1.53% 27.62% 19.22% 9.76% 21.94%
Volume impact on Rev -13.7% 0.5% 2.9% 30.3% 13.6% 4.8% 20.1%
Price impact on Rev 11.4% 4.8% -1.3% -2.7% 5.6% 5.0% 1.8%

Sales Growth (INR Crore) 358 105 1,924 1,819 1,092 2,680
Volume Impact 34 202 2,178 1,238 520 2,419
Price & Mix Impact 324 (96) (253) 582 572 261

Sales 2022 88,330

Volume Impact 16,756
Price & Mix Impact 12,485
Sales 2023 117,571
-
2008 2009 2010 2011 2012 2013 2014 2015 2016
17,892 20,454 29,099 36,618 35,587 43,588 43,646 49,971 57,746
3,195 2,562 8,645 7,520 (1,031) 8,001 58 6,324 7,776
21.74% 14.32% 42.27% 25.84% -2.82% 22.48% 0.13% 14.49% 15.56%
764,842 792,167 1,018,365 1,271,005 1,133,695 1,171,434 1,155,041 1,292,415 1,429,248
233,925 258,199 285,741 288,106 313,904 372,090 377,877 386,645 404,033

20.75% 13.95% 39.22% 25.64% -1.85% 21.87% 0.16% 14.21% 15.08%

13.3% 3.6% 28.6% 24.8% -10.8% 3.3% -1.4% 11.9% 10.6%
7.4% 10.4% 10.7% 0.8% 9.0% 18.5% 1.6% 2.3% 4.5%

3,195 2,562 8,645 7,519 (1,031) 8,001 58 6,324 7,776

1,958 639 5,840 7,219 (3,956) 1,185 (610) 5,191 5,291
1,237 1,923 2,805 301 2,925 6,816 668 1,133 2,485
 2017 2018 2019 2020 2021 2022 2023
68,035 79,763 86,020 75,611 70,372 88,330 117,571
10,289 11,728 6,258 (10,410) (5,239) 17,958 29,242
17.82% 17.24% 7.85% -12.10% -6.93% 25.52% 33.10%
1,568,603 1,779,574 1,862,449 1,563,297 1,457,861 1,652,653 1,966,164
433,729 448,212 461,867 483,661 482,707 534,473 597,973

17.10% 16.79% 7.70% -11.34% -6.94% 24.09% 30.85%

9.8% 13.4% 4.7% -16.1% -6.7% 13.4% 19.0%
7.3% 3.3% 3.0% 4.7% -0.2% 10.7% 11.9%

10,288 11,728 6,258 (10,410) (5,239) 17,958 29,242 110,391

5,630 9,150 3,715 (13,817) (5,100) 9,403 16,756 54,849
4,658 2,577 2,543 3,407 (139) 8,555 12,485 55,542
 2002 2003 2004 2005 2006 2007 2008 2009
Mini & Compact 272,035 295,210 393,649 387,542 424,359 519,620 568,833 560,779
OEM: Compact
Mid-Size 12,995 11,329 14,499 29,637 31,939 29,697 49,335 75,928
Executive
Passenger Cars 285,030 306,539 408,148 417,179 456,298 549,317 618,168 636,707
Utility Vehicles 5,204 4,374 3,221 3,921 7,489
Vans 62,317 52,412 60,387 65,019 66,366 83,091 89,729 77,948
LCVs
Domestic Sales 347,347 358,951 468,535 487,402 527,038 635,629 711,818 722,144
Export Sales 12,233 32,240 51,175 48,899 34,784 39,295 53,024 70,023
Total Sales 359,580 391,191 519,710 536,301 561,822 674,924 764,842 792,167
(5,068) (3,464) (3,587) (48,899) (34,784) (39,295) (53,024) (70,023)
Mini & Compact 78.3% 82.2% 84.0% 79.5% 80.5% 81.7% 79.9% 77.7%
OEMs
Mid-Size 3.7% 3.2% 3.1% 6.1% 6.1% 4.7% 6.9% 10.5%
LCVS
Utility 17.9% 14.6% 12.9% 14.4% 13.4% 13.6% 13.2% 11.8%
100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
 2010 2011 2012 2013 2014 2015 2016 2017
666,218 835,037 727,143 684,871 688,740 940,380 1,013,231 1,031,443

99,315 131,272 128,129 176,278 201,714 33,151 54,233 64,448

- 138 458 188 1
765,533 966,447 855,730 861,337 890,455 973,531 1,067,464 1,095,891
3,932 5,666 6,525 79,192 61,119 68,198 94,416 195,741
101,325 160,626 144,061 110,517 102,115 128,973 143,471 152,009

870,790 1,132,739 1,006,316 1,051,046 1,053,689 1,170,702 1,305,351 1,443,641

147,575 138,266 127,379 120,388 101,352 121,713 123,897 124,062
1,018,365 1,271,005 1,133,695 1,171,434 1,155,041 1,292,415 1,429,248 1,567,703
(138,266) (147,575) (127,379) (120,388) (101,352) (121,713) (123,897) (124,962)
76.5% 73.7% 72.3% 65.2% 65.4% 80.3% 77.6% 71.4%

11.4% 11.6% 12.7% 16.8% 19.1% 2.8% 4.2% 4.5%

12.1% 14.7% 15.0% 18.0% 15.5% 16.8% 18.2% 24.1%

100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
 2018 2019 2020 CAGR
1,175,658 1,240,854 1,035,386 8.0% M800, Alto, A-Star, WagonR
25,002
58,913 46,169 25,258 25.7% SX4, Dzire, Esteem, Baleno
Kizashi
1,234,571 1,287,023 1,085,646 10.0%
253,759 264,197 235,298 31.5% Gypsy, Ertiga, Grand Vitara
155,137 178,606 118,404 4.2% Omni, Eeco
10,333 23,874 21,778
1,653,800 1,753,700 1,461,126 9.7%
126,074 108,749 102,171 19.3%
1,779,874 1,862,449 1,563,297 10.2%
(125,774) (108,749) (102,171)
71.1% 70.8% 70.9%
1.7%
3.6% 2.6% 1.7%
0.6% 1.4% 1.5%
24.7% 25.2% 24.2%
100.0% 100.0% 100.0%
 This chart isn't available in your versio
Changes in Unit Selling & Marketing Cost & Growth in
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30.0%
R² = 0.338515342917427

20.0%

10.0%

0.0%
-40.0% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0%

-10.0%

-20.0%

Changes in Unit Selling & Marketing Cost & Growth in

Sales Volume
20.0%

15.0%

10.0%

R² = 0.158175992152997 5.0%

0.0%
-40.0% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0%

-5.0%
rt isn't available in your version of Excel.

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