Tata Group Assets Up Rs 2,812 Cr

The total assets of the Tata group of companies increased by Rs 2,812 crore in 1995-96 to Rs 26,329 crore as against Rs 21,691 crore in 1994-95. However, the rate of growth dropped marginally from 21.7 per cent in 1994-95 to 21.4 per cent in 1995-96. The gross block of the group companies rose 13.2 per cent in 1995-96 as against an increase of 14.7 per cent in the previous year. Gross block stood at Rs 20,132 crore in 1995-96 as against Rs 17,782 crore in 1994-95.

The profit before tax of the 84 Tata companies increased by 64 per cent to Rs 3,235 crore in 1995-96 against Rs 1,973 crore in the previous year. The recently released Tata Enterprise Compendium for 1995-96 prepared by the department of economics and statistics of the Tata group, attributed the rise in profits mainly due to volume growth and price increase. The group's profit after tax increased by 57.1 per cent to Rs 2,645 crore as against Rs 1,684 crore in 1994-95.

The increase in PAT was despite a 104 per cent rise in corporate taxation which amounted to Rs 590 crore in 1995-96.

The sales turnover of the Tata firms increased to Rs 28,692 crore during 1995-96, representing a growth of 31.5 per cent over the previous year. Total income at Rs 29,086 crore was higher by 28.8 per cent over the previous year.

The value of goods and services produced by the Tata companies would represent about 2.6 per cent of the GDP, i.e., Rs 10,98,576 crore at the current market price for 1995-96.

The group's exports rose 35.8 per cent from Rs 2,239 crore in 1994-95 to Rs 3,040 crore in 1995-96. Its share in the country's total exports was about 2.9 per cent. The ratio of exports to sales increased from 10.3 per cent in 1994-95 to 10.6 per cent in 1995-96.

Net forex earnings of the group companies rose from Rs 731 crore in 1994-95 to Rs 788 crore in 1995-96.

The group paid Rs 4,489 crore to the exchequer in the form of corporate tax, excise, customs, and sales tax.

While Tata majors, Tisco, Telco and Tata Chemicals maintained their respective market shares of 15 per cent, 72 per cent and 43.4 per cent during the period, Voltas market share rose to 33 per cent from 22 per cent in the aircondition segment and to 20 per cent from 11 per cent in the refrigerators market.

Tata Tea's share rose to 23 per cent from 14.4 per cent while Tata Telecom maintained its share of 50 per cent during the period.