AmirA (PPT)

8/7/2019 AmirA (PPT)

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Indian Automobile IndustryIndian Automobile Industry

# Over a period of more than two decades the Indian Automobile

industry has been driving its own growth through phases.

# The domestic auto components consumption has crossed rupees

9000 crores and an export of one half size of this figure.


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Overview of Automobile IndustryOverview of Automobile Industry

2-Wheelers:-

# Indian automobile industry witnessed a growth of 23.37% in

2-wheeler segment.

# India is the second-largest 2-wheeler manufacturers in the world

and also the largest motorcycle manufacturer in the World.

# preceding year. 2-wheeler segment have been showing an upward

production trend. At present, there are more than 7.6 million 2-wheeler,

manufactured in Indian automobile sector.

# sales of 2-wheelers in Indian market amounted to 7.05 millions, with

0.5 million units exported by Indian manufacturers.


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Production trend of 2-wheelers in Indian automobile industry


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Sales trend of 2-wheelers in Indian market


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Export trend of 2-wheelers


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Passenger Cars:Passenger Cars:--

# India is the fourth-largest car market in Asia. During financial year

2005-06, Indian passenger car segment grew at 19% with the sale of 1.3

million passenger vehicles.

# Passenger cars come in great variety, starting from 2-seater electric

car REVA to 5-seater compact cars like Zen, Santro, Indica, etc. They come

in all ranges- economical and luxurious. Tata Motors, Maruti Udyog Limited,

Mahindra & Mahindra, etc are the leading Indian manufacturers in

passenger cars segment, whereas many foreign players such as Hyundai,

Honda, Fiat, Ford, Toyota, etc are also serving the segment.


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Production trend of passenger cars in Indian automobile segment


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Sales trend of passenger cars in Indian market


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Market shares of major players in Indian passenger car segment


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Contribution to exports by major Indian players in passenger car segment


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33--Wheelers:Wheelers:--

# In India, there are 6 local and multinational companies making

3-wheelers. Bajaj Auto is the leader in 3-wheeler manufacturing.

Production trend of 3-wheelers in Indian automobile industry


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Sales trend of 3-wheelers in Indian market


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Utility Vehicles:Utility Vehicles:--

# Indian automobile industry witnessed a growth of 12.85% in utilityvehicle (UV) segment. Indian UV segment includes a range of vehicles such

as Safari, Sumo, Qualis, Tavera, etc.

# The production of UVs in Indian automobile industry witnessed an

overall growth of more than 7%. The major players are in the process of

expanding their capacity.


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Production trend of UVs in Indian automobile sector


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Commercial Vehicles:Commercial Vehicles:--

# India is the fourth-largest commercial vehicle market in theworld, and it is also the fifth-largest manufacturer of commercialvehicles.

# Commercial vehicles can be categorized into Light

Commercial Vehicles (LCVs), Medium Commercial Vehicles (MCVs)and Heavy Commercial Vehicles (HCVs) according to the maximumload they can carry. LCVs gross vehicle weight limit is 7.5 tonne,whereas MCVs' is 25 tonne and HCVs' is 49 tonne.

# Production of commercial vehicles in Indian automobile

industry witnessed an overall growth of more than 10%. The majorplayers are in the process of expanding their capacities andacquiring advanced technologies for higher quality production


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Total production of commercial vehicles (in units) of major players


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Scope of Indian Automobile SectorScope of Indian Automobile Sector

INVESTMENT IN AUTOSECTOR:-

# every automobile company is investing at a higher rate than ever

before to achieve a high growth trajectory.

# The overall investment in the sector has been increasing quite

rapidly. It is expected that by the end of 2010 Indian automobile sector will

be investing a huge amount as Rs. 30,000 crores


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GROWTH IN THE SECTOR:GROWTH IN THE SECTOR:--

# At present the industry is enjoying a growth rate of 14-17% per

annum, with domestic sales growth at 12.8%. The growth rate is predicted

to double by 2015.

# The total sales of passenger vehicles - cars, utility vehicles and

multi-utility vehicles - in the year 2005 reached the mark of 1.06 million. Thecurrent growth rate indicates that by 2012 India will overtake Germany and

Japan in sales volumes.

# The automobile exports are increasing year by year. According to

the Society of Indian Automobile Manufactures (SIAM) automobile exports

in the last five years


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Export trend over the last five years


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# Investment is leading to the employment growth in the sector. Withthe emergence of new projects and introduction of technologicaladvancements, the focus is more on the skilled and experienced humanresource. The companies are looking for skilled and hard working peoplewho can give their best to the organization.

# The automobile sector in India has provided employment to morethan 7 lakh skilled workforce. The States like Maharashtra, Andhra Pradesh,Karnataka, and Haryana are having most of the automobile companies thatwitness many major technological developments and 15% growth in theIndian automobile sector. Given below is the employment status of themajor automobile centres in the country.

EMPLOYMENT IN THE SECTOR:-


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Career Opportunities

Employment status of Indian automobile sector (FY 2005-06)


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Top Ten Players in Indian AutomobileTop Ten Players in Indian Automobile

SectorSector

Maruti Udyog Limited

Hero Motors Limited

Tata Group

Bajaj Auto Limited

Mahindra Group

Ashok Leyland

Yamaha Motor India

Hyundai Motors India Limited

Toyota KirloskarMotorPrivate Limited

Honda Siel Cars India Limited


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Tata Motors Ltd


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Founder JRDTata

CEO:- Mr.Ravi Kant

President ofPassenger Cars:- RajivDube


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ProfileProfile

Tata Motors Limited is India's largest automobilecompany, with consolidated revenues of Rs.70,938.85crores (USD 14 billion) in 2008-09. It is the leader incommercial vehicles in each segment, and among the

top three in passenger vehicles with winning products inthe compact, midsize car and utility vehicle segments.The company is the world's fourth largest truckmanufacturer, and the world's second largest busmanufacturer.

The company's 23,000 employees are guided by thevision to be "best in the manner in which we operate,best in the products we deliver, and best in our valuesystem and ethics."


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Tata Motors, the first company from India's engineering sector to be listed inthe New York Stock Exchange (September 2004), has also emerged as an

international automobile company. Through subsidiaries and associatecompanies, Tata Motors has operations in the UK, South Korea, Thailandand Spain. Among them is Jaguar Land Rover, a business comprising thetwo iconic British brands that was acquired in 2008. In 2004, it acquired theDaewoo Commercial Vehicles Company, South Korea's second largesttruck maker. The rechristened Tata Daewoo Commercial VehiclesCompany has launched several new products in the Korean market, whilealso exporting these products to several international markets. Today two-

thirds of heavy commercial vehicle exports out of South Korea are fromTata Daewoo. In 2005, Tata Motors acquired a 21% stake in HispanoCarrocera, a reputed Spanish bus and coach manufacturer, with an optionto acquire the remaining stake as well. Hispano's presence is beingexpanded in other markets. In 2006, it formed a joint venture with the Brazil-based Marcopolo, a global leader in body-building for buses and coaches tomanufacture fully-built buses and coaches for India and select internationalmarkets. In 2006, Tata Motors entered into joint venture with Thonburi

Automotive Assembly Plant Company of Thailand to manufacture andmarket the company's pickup vehicles in Thailand. The new plant of TataMotors (Thailand) has begun production of the Xenon pickup truck, with theXenon having been launched in Thailand in 2008


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Tata Motors is also expanding its international footprint, establishedthrough exports since 1961. The company's commercial andpassenger vehicles are already being marketed in several countriesin Europe, Africa, the Middle East, South East Asia, South Asia and

South America. It has franchisee/joint venture assembly operationsin Kenya, Bangladesh, Ukraine, Russia and Senegal.

In January 2008, Tata Motors unveiled its People's Car, the TataNano, which India and the world have been looking forward to. TheTata Nano has been subsequently launched, as planned, in India inMarch 2009. A development, which signifies a first for the global

automobile industry, the Nano brings the comfort and safety of a carwithin the reach of thousands of families. The standard version hasbeen priced at Rs.100,000 (excluding VAT and transportation cost).

In May 2009, Tata Motors introduced ushered in a newera in the Indian automobile industry, in keeping with itspioneering tradition, by unveiling its new range of worldstandard trucks. In their power, speed, carrying capacity,operating economy and trims, they will introduce newbenchmarks in India and match the best in the world inperformance at a lower life-cycle cost.


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In June 2009, the exciting new range of premium luxury vehiclesfrom Jaguar and Land Rover were introduced for the Indian market.These include the Jaguar XF, XFR and XKR and Land RoverDiscovery 3, Range Rover Sport and Range Rover.

The years to come will see the introduction of several otherinnovative vehicles, all rooted in emerging customer needs. Besidesproduct development, R&D is also focussing on environment-friendly technologies in emissions and alternative fuels.

the company is engaged in engineering and automotivesolutions, construction equipment manufacturing,automotive vehicle components manufacturing andsupply chain activities, machine tools and factory

automation solutions, high-precision tooling and plasticand electronic components for automotive and computerapplications, and automotive retailing and serviceoperations.


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ProductsProducts

TATA Safari

TATA Indigo

TATA Indigo SW

TATA Indica

TATA Sumo

TATA Nano


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Milestones

Milestones

It has been a long and accelerated journey for Tata Motors, India's leading

automobile manufacturer. Some significant milestones in the company's

journey towards excellence and leadership.


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1945y Tata Engineering and Locomotive Co. Ltd. was established to manufacture locomotives and other engineering

products.

1948y Steam road roller introduced in collaboration with Marshall Sons (UK).

1954y Collaboration with Daimler Benz AG, West Germany, for manufacture of medium commercial vehicles. The first

vehicle rolled out within 6 months of the contract.

1959y Research and Development Centre set up at Jamshedpur.

1961y Exports begin with the first truck being shipped to Ceylon, now Sri Lanka.

1966y Setting up of the EngineeringResearch Centre at Pune to provide impetus to automobile Research and

Development.

1971y Introduction of DI engines.

1977y First commercial vehicle manufactured in Pune.

1983y Manufacture of Heavy Commercial Vehicle commences.

1985y First hydraulic excavator produced with Hitachi collaboration.


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1986y Production of first light commercial vehicle, Tata 407, indigenously designed, followed by Tata 608.

1989y Introduction of the Tatamobile 206 - 3rd LCV model.

1991y

Launch of the 1st indigenous passenger car Tata Sierra.y TAC 20 crane produced.

y One millionth vehicle rolled out.

1992y Launch of the Tata Estate.

1993y Joint venture agreement signed with Cummins Engine Co. Inc. for the manufacture of high horsepower and emission

friendly diesel engines.

1994y Launch of Tata Sumo - the multi utility vehicle.

y Launch of LPT 709 - a full forward control, light commercial vehicle.

y Joint venture agreement signed with M/s Daimler - Benz / Mercedes - Benz for manufacture of Mercedes Benz

passenger cars in India.

y Joint venture agreement signed with Tata Holset Ltd., UK for manufacturing turbochargers to be used on Cummins

engines.

1995y Mercedes Benz car E220 launched.

1996y Tata Sumo deluxe launched.

1997y Tata Sierra Turbo launched.

y 100,000th Tata Sumo rolled out.

1998y Tata Safari - India's first sports utility vehicle launched.

y 2 millionth vehicle rolled out.

y Indica, India's first fully indigenous passenger car launched.


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1999y 115,000 bookings forIndica registered against full payment within a week.

y Commercial production ofIndica commences in full swing.

2000y First consignment of 160 Indicas shipped to Malta.

y Indica with Bharat Stage 2 (Euro II) compliant diesel engine launched.

y

Utility vehicles with Bharat 2 (EuroII

) compliant engine launched.y Indica 2000 (Euro II) with multi point fuel injection petrol engine launched.

y Launch of CNG buses.

y Launch of 1109 vehicle - Intermediate commercial vehicle.

2001y Indica V2 launched - 2nd generation Indica.

y 100,000th Indica wheeled out.

y Launch of CNG Indica.

y Launch of the Tata Safari EX

y Indica V2 becomes India's number one car in its segment.y Exits joint venture with Daimler Chrysler.

2002y Unveiling of the Tata Sedan at Auto Expo 2002.

y Petrol version ofIndica V2 launched.

y Launch of the EX series in Commercial vehicles.

y Launch of the Tata 207 DI.

y 2,00,000th Indica rolled out.

y 5,00,000th passenger vehicle rolled out.

y Launch of the Tata Sumo'+' Seriesy Launch of the Tata Indigo.

y Tata Engineering signed a product agreement with MG Rover of the UK.

2003y Launch of the Tata Safari Limited Edition.

y The Tata Indigo Station Wagon unveiled at the Geneva MotorShow.

y On 29th July, J. R. D. Tata's birth anniversary, Tata Engineering becomes Tata Motors Limited.

y 3 millionth vehicle produced.

y First CityRover rolled out

y 135 PS Tata Safari EXi Petrol launchedy Tata SFC 407 EX Turbo launched


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2004y Tata Motors unveils new product range at Auto Expo '04.

y New Tata Indica V2 launched

y Tata Motors and Daewoo Commercial Vehicle Co. Ltd. sign investment agreement

y Indigo Advent unveiled at Geneva MotorShow

y Tata Motors completes acquisition of Daewoo Commercial Vehicle Companyy Tata LPT 909 EX launched

y Tata Daewoo Commercial Vehicle Co. Ltd. (TDCV) launches the heavy duty truck 'NOVUS' , in Korea

y Sumo Victa launched

y Indigo Marina launched

y Tata Motors lists on the NYSE

2005 y Tata Motors rolls out the 500,000th Passenger Car from its Car Plant Facility in Pune

y The Tata Xover unveiled at the 75th Geneva MotorShow

y Branded buses and coaches - Starbus and Globus - launched

y Tata Motors acquires 21% stake in Hispano Carrocera SA, Spanish bus manufacturing Company

y Tata Ace, India's first mini truck launched

y Tata Motors wins JRD QV award for business excellence.

y The power packed Safari Dicor is launched

y Introduction ofIndigo SX series - luxury variant of Tata Indigo

y Tata Motors launches Indica V2 Turbo Diesel.

y One millionth passenger car produced and soldy Inauguration of new factory at Jamshedpur for Novus

y Tata TL 4X4, India's first Sports Utility Truck (SUT) is launched

y Launch of Tata Novus

y Launch of Novus range of medium trucks in Korea, by Tata Daewoo Commercial

Vehicle Co. (TDCV)


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2006y Tata Motors vehicle sales in India cross four million mark

y Tata Motors unveils new long wheel base premium Indigo & X-over concept at Auto Expo 2006

y Indica V2 Xeta launched

y Passenger Vehicle sales in India cross one-million mark

y Tata Motors and Marcopolo, Brazil, announce joint venture to manufacture fully built buses & coaches forIndia &

markets abroad

y Tata Motors first plant for small car to come up in West Bengal

y Tata Motors extends CNG options on its hatchback and estate range

y TDCV develops South Korea's first LNG-Powered Tractor- Trailer

y Tata Motors and Fiat Group announce three additional cooperation agreements

y Tata Motors introduces a new Indigo range

2007y Construction ofSmall Car plant at Singur, West Bengal, begins on January 21

y New 2007 Indica V2 range is launched

y Tata Motors launches the longwheel base Indigo XL, India's first stretch limousine

y Common rail diesel (DICOR) engine extended to Indigo sedan and estate range

y Tata Motors and Thonburi Automotive Assembly Plant Co. (Thonburi), announce formation of a joint venture

company in Thailand to manufacture, assemble and market pickup trucks.

y Roll out of 100,000th Ace

y Tata-Fiat plant at Ranjangaon inaugurated

y Launch of a new Upgraded range of its entry level utility vehicle offering, the Tata Spacio.

y CRM-DMS initiative crosses the 1000th location milestone

y Launch of Magic, a comfortable, safe, four-wheeler public transportation mode, developed on the Ace platformy Launch of Winger, Indias only maxi-van

y Fiat Group and Tata Motors announce establishment of Joint Venture in India

y Launch of the Sumo Victa Turbo DI, the new upgraded range of its entry-level utility vehicle, the Sumo Spacio

y Tata Motors launches Indica V2 Turbo with dual airbags and ABS

y Launch of new Safari DICOR2.2 VTT range, powered by a new 2.2 L Direct Injection Common Rail (DICOR)

engine.

y Rollout of the one millionth passenger car off the Indica platform.


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2008y Ace plant at Pantnagar (Uttarakhand) begins production.

y Indica Vista the new generation Indica, is launched.

y Tata Motors' new plant for Nano to come up in Gujarat.

y Latest common rail diesel offering- the Indica V2 DICOR, launched.

y Indigo CS (Compact Sedan), worlds first sub four-metre sedan, launched.y Launch of the new Sumo -- Sumo Grande, which combines the looks of an SUV with the comforts of a family car.

y Tata Motors unveils its People's Car, Nano, at the ninth Auto Expo.

y Xenon, 1-tonne pick-up truck, launched in Thailand.

y Tata Motors signs definitive agreement with Ford Motor Company to purchase Jaguar and Land Rover.

y Tata Motors completes acquisition of Jaguar Land Rover.

y Tata Motors introduces new Super Milo range of buses.

y Tata Motors is Official Vehicle Provider to Youth Baton Relay for The III Commonwealth Youth Games Pune 2008.

y Indica Vista the second generation Indica, is launched.

y Tata Motors launches passenger cars and the new pick-up in D.R. Congo.

2009y Tata Marcopolo Motors' Dharwad plant begins production.

y Tata Motors launches Nano - The People's Car

y Introduction of new world standard truck range.

y Launch of premium luxury vehicles - Jaguar XF, XFRand XKRand Land Rover Discovery 3, Range RoverSport

and Range Rover from Jaguar and Land Rover in India.


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A.Balance sheet

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

Sources offunds

Owner's fundEquity share capital 514.05 385.54 385.41 382.87 361.79

Share application money - - - - -

Preference share capital - - - - -

Reserves & surplus 11,855.15 7,428.45 6,458.39 5,127.81 3,749.60

Loanfunds

Secured loans 5,251.65 2,461.99 2,022.04 822.76 489.81

Unsecured loans 7,913.91 3,818.53 1,987.10 2,114.08 2,005.61

Total 25,534.76 14,094.51 10,852.94 8,447.52 6,606.81

Uses offunds

Fixed assets

Gross block 13,905.17 10,830.83 8,775.80 7,971.55 6,611.95

Less : revaluation reserve 25.07 25.51 25.95 26.39 -

Less : accumulated depreciation 6,259.90 5,443.52 4,894.54 4,401.51 3,454.28

Net block 7,620.20 5,361.80 3,855.31 3,543.65 3,157.67

Capital work-in-progress 6,954.04 5,064.96 2,513.32 951.19 538.84

Investments 12,968.13 4,910.27 2,477.00 2,015.15 2,912.06

Net current assets

Current assets, loans & advances 10,836.58 10,781.23 10,318.42 9,812.06 7,248.88

Less : current liabilities & provisions 12,846.21 12,029.80 8,321.20 7,888.65 7,268.80


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Total net current assets -2,009.63 -1,248.57 1,997.22 1,923.41 -19.92

Miscellaneous expenses not written 2.02 6.05 10.09 14.12 18.16

Total 25,534.76 14,094.51 10,852.94 8,447.52 6,606.81

Notes:

Book value of unquoted investments 12,358.84 4,145.82 2,117.86 1,648.57 2,480.15

Market value of quoted investments 558.32 2,530.55 1,323.08 1,550.00 1,260.05

Contingent liabilities 5,433.07 5,590.83 5,196.07 2,185.63 1,450.32

Number of equity sharesoutstanding (Lacs) 5140.08 3855.04 3853.74 3828.34 3617.52


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Profit loss account

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

IncomeOperating income 25,660.67 28,767.91 26,664.25 20,088.63 17,199.17

Expenses

Material consumed 19,039.41 20,931.81 19,529.88 14,376.11 12,101.28

Manufacturing expenses 1,171.59 1,230.14 1,200.36 929.82 830.45

Personnel expenses 1,551.39 1,544.57 1,367.83 1,143.13 1,039.34

Selling expenses 1,224.15 1,179.48 1,068.56 759.54 598.75

Adminstrative expenses 1,867.05 1,982.79 1,488.16 1,042.52 911.73

Expenses capitalised -916.02 -1,131.40 -577.05 -308.85 -282.43

Cost of sales 23,937.57 25,737.39 24,077.74 17,942.27 15,199.12

Operating profit 1,723.10 3,030.52 2,586.51 2,146.36 2,000.05

Other recurring income 841.54 359.42 887.23 685.18 399.94

Adjusted PBDIT 2,564.64 3,389.94 3,473.74 2,831.54 2,399.99

Financial expenses 704.92 471.56 455.75 350.24 234.30

Depreciation 874.54 652.31 586.29 520.94 450.16

Other write offs 51.17 64.35 85.02 73.78 67.12

Adjusted PBT 934.01 2,201.72 2,346.68 1,886.58 1,648.41


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Tax charges 12.50 547.55 660.37 524.93 415.50

Adjusted PAT 921.51 1,654.17 1,686.31 1,361.65 1,232.91

Non recurring items 79.75 374.75 227.15 167.23 4.04

Other non cash adjustments 15.29 - -0.07 - -1.54

Reported net profit 1,016.55 2,028.92 1,913.39 1,528.88 1,235.41

Earnigs before appropriation 2,399.62 3,042.75 2,690.15 2,094.54 1,601.21

Equity dividend 311.61 578.43 578.07 497.94 452.19

Preference dividend - - - - -

Dividend tax 34.09 81.25 98.25 69.84 63.42

Retained earnings 2,053.92 2,383.07 2,013.83 1,526.76 1,085.60


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FounderSoichiro Honda


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ProfileP

rofile Honda Siel Cars India, Limited (HSCI) is a joint venture between the Honda

Motor Company Limited, Japan and Siel Limited, a Siddharth ShriramGroup company. It was begun in December 1995. The Honda City, its firstoffering introduced in 1997, revolutionized the Indian passenger car market

and has ever since been recognized as an engineering marvel in the Indianautomobile industry. The success of City as well as all its other models hasled HSCI to become the leading premium car manufacturer in India. Thetotal investment made by the company in India till date is Rs. 1620 crores,further investment of RS. 1000 crore is planned and being currentlyinvested for the coming second plant in Rajasthan. The company has acapacity of manufacturing 100,000 cars Mr. Masahiro Takadegawa is thecurrent President and CEO of HSCI. He took over this post in August 2005


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Manufacturing facilityManufacturing facility

HSCI's manufacturing unit was set up in 1997 at Greater Noida,Uttar Pradesh. The initial investment was Rs. 450 crore. The plantwas built on a plot of 150 acres. The initial installed capacity of theplant was 30,000 cars per annum. The current production capacityof the plant is 50,000 cars per annum. The production capacityexpansion was facilitated by an investment of Rs.150 crores. The

company plans to further raise its capacity to 100,000 units perannum by the end of 2007 and 150,000 units per annum by 2010.[1]The company has planned a new and further more technologicallyadvanced plant in Bhiwadi. The work for the same has been startedand the plant will be functional in a year or two.

The company operates under the stringent standards of ISO 9001for quality management and ISO 14001 for environmentmanagement.


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AwardsAwards

2006 Best Indian Company (unlisted) by Business Standard Group

Manufacturer of the Year by NDTV Profit-Car India

Manufacturer of the Year by CNBC-TV 18 Autocar India

No 1 Mid Size Car (Honda City); No 1 Entry Luxury Car (Honda Accord) and

No 1 Premium SUV (Honda CR-V) by TNS Best Mid-size Car in Initial Quality (Honda City) and Most Appealing Mid-

size car (Honda City) by JD Power

2005 CNBC Autocar CAR of the year 2004 - Honda City

ICICI Overdrive SUV of the Year 2004 - Honda CR-V

ICICI Overdrive Car of the Year 2004 - Honda City

Business Standard Motoring Car of the Year 2004 - Honda City


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BALANCE SHEETPERIOD ENDING 31-Mar-09 31-Mar-08 31-Mar-07

Assets

Current Assets

Cash And Cash Equivalents 7,110,801 10,614,110 8,037,141

Short Term Investments - - -

Net Receivables 22,911,341 25,465,090 22,923,361

Inventory 12,812,798 12,112,526 10,056,486

Other Current Assets 4,763,194 4,647,111 3,628,336


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Total CurrentAssets 47,598,133 52,838,837 44,645,324

Long Term Investments 31,305,315 35,145,394 32,146,779

Property Plant and Equipment 35,385,856 31,514,737 20,526,965

Goodwill - - -

Intangible Assets - - -

Accumulated Amortization - - -

Other Assets 7,445,540 7,918,016 4,991,183

Deferred Long Term Asset Charges - - -

Total Assets 121,734,845 127,416,984 102,310,250


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Liabilities

Current Liabilities

Accounts Payable 13,406,676 18,746,661 17,424,388

Short/Current Long Term Debt 27,648,723 25,837,467 17,350,855

Other Current Liabilities 2,589,492 2,669,228 1,668,737

Total CurrentLiabilities 43,644,890 47,253,355 36,443,980

Long Term Debt 19,906,161 18,550,185 16,198,816

Other Liabilities 11,599,860 11,204,304 7,834,144

Deferred Long Term Liability Charges 4,041,390 3,079,823 2,686,408

Minority Interest 1,267,477 1,432,241 1,044,710

Negative Goodwill - - -

Total Liabilities 80,459,779 81,519,908 64,208,057


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Stockholders' Equity

Misc Stocks Options Warrants - - -

Redeemable Preferred Stock - - -

PreferredStock - - -

Common Stock 886,490 869,277 731,570

Retained Earnings 52,522,450 51,509,828 39,566,565

Treasury Stock (738,634) (726,463) (352,232)

CapitalSurplus 1,777,049 1,742,543 1,466,497

OtherStockholder Equity (13,172,289) (7,498,109) (3,310,206)

Total Stockholder Equity 41,275,066 45,897,077 38,102,194

Net Tangible Assets $41,275,066 $45,897,077 $38,102,194


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INCOME STATEMENTINCOME STATEMENT

PERIOD ENDING 31-Mar-09 31-Mar-08 31-Mar-07

Total Revenue 103,115,782 121,228,623 94,240,690

Cost ofRevenue 76,421,695 86,286,017 66,853,707

Gross Profit 26,694,088 34,942,606 27,386,983

Operating Expenses

Research

Development5,800,929 5,938,386 4,690,700

Selling General and

Administrative18,939,836 19,377,820 15,455,312

Non Recurring - - -

Others - - -

Total Operating

Expenses- - -


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OperatingIncome or Loss 1,953,323 9,626,401 7,240,972

Income from Continuing Operations

Total Other

Income/Exp

enses Net

(55,270) (410,515) (391,842)

Earnings Before

Interest And

Taxes

1,898,053 9,215,886 6,849,130

Interest Expense 232,193 167,892 109,752

Income Before

Tax1,665,860 9,047,994 6,739,378

Income Tax

Expense1,131,301 3,913,104 2,412,691

Minority Interest (143,458) (275,811) (170,995)

Net Income From

Continuing

Ops

1,411,152 6,060,394 5,034,737


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Non-recurring Events

Discontinued

Operations- - -

Extraordinary Items - - -

Effect Of Accounting

Changes- - -

OtherItems - - -

NetIncome 1,411,152 6,060,394 5,034,737

PreferredStock And Other Adjustments - - -

NetIncome Applicable To CommonShares $1,411,152 $6,060,394 $5,034,737

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AmirA (PPT)