“We would finance and leverage the company even further. There have been some encouraging signs. There are some new products still to come,” said, Ratan Tata, Chairman of Tata Motors during the company 64th annual general meeting.
Tata Motors has raised Rs 2,500 crore through FDs and will further raise another Rs 1,500 crore with another FD scheme. The capex of the company for the current year is Rs 4,000 crore, a raise from 2,700 crore.
“These are challenging circumstances, but we have been successful in getting the refinancing and State Bank of India (SBI) has stood by us even during this time,” Ratan Tata added.
The company is estimated to have a total debt of Rs 16,900 crore. And this is soon to be revived and the company is expected to make profit very soon.
JLR has many future plans for India, which includes electric cars and hydrogen based vehicle.
Tata has plans to launch the Nano in Europe soon. “Asia and African markets have expressed interest in the Nano. We will launch the Nano in South America on our own or through Fiat,” said Mr. RatanTata.