Automobiles business well capitalised: Tata Sons
Reacting to a media report, the group said the figures quoted "pertain to gross debt numbers which gives a misleading picture".
The group said its "automotive business has a net debt of Rs 28,000 crore. Out of this JLR (Jaguar Land Rover) is Rs 6,500 crore (Net Debt / EBITDA of 0.4) and Tata Motors domestic business is Rs 15,500 crore (Net Debt / EBITDA of 2.7)," a Tata Sons spokesperson said in a statement.
Reacting to a media report headlined '
"The Tata Motors group is a Rs 3,00,000 crore international automotive conglomerate with a Networth of Rs 60,000 crore that generates an EBITDA of Rs 2,000 crore," the statement added.
It further said Tata Motors Finance, an NBFC that finances commercial and passenger vehicles, has a net debt of Rs 38,000 crore with net NPAs of 1.4 per cent, generating 12 per cent ROE (return on equity).
"Our business is well capitalised with Consolidated Net Automotive Debt to Equity of 0.47," the statement said, adding the maturities of debt is well spread out right till 2027.
"Additionally, we have Rs 19,000Cr of undrawn revolving credit facilities. The business generates operating cash flows after interest of Rs 21500 crore, " the spokesperson said.