Tata Motors Ltd. Results

Q2FY25 Quarterly Result Announced for Tata Motors Ltd.

Cars & Utility Vehicles company Tata Motors announced Q2FY25 results Revenues of Rs 101.5K crore (down 3.5%), EBITDA at Rs 11.6K crore (11.4%, down 230bps) EBIT of Rs 5.6K crore (5.6%, down 190bps). PBT (bei) for Q2FY25 stood at Rs 5.8K crore down Rs 391 crore. Profit was Rs 3.5K crore. For H1FY25 the business reported a strong PBT (bei) of Rs 14.6K crore, an improvement of Rs 2.9K crore over the previous year. PB Balaji, Group Chief Financial Officer, Tata Motors said: “Growth in the quarter was impacted due to significant external challenges as highlighted earlier. Overall, the business fundamentals remain strong, and we remain focused on our agenda of driving growth, competitiveness and free cash flows. As the supply challenges ease and demand picks up, we are confident of steady improvement in our performance and delivering a strong H2.” Adrian Mardell, JLR Chief Executive Officer, said: “JLR has delivered a resilient performance in Q2, resulting in a 25 per cent increase in first half profits year-on-year. Our teams responded brilliantly to the aluminum supply shortages we experienced in the quarter, so we could deliver as many orders as possible to clients. We continue to make good progress delivering our Reimagine strategy. We have invested £250m so far to prepare our Halewood UK plant for electric vehicle production and with strong global demand for our products, we are well positioned to deliver on our commitments again this financial year.” Girish Wagh, Executive Director Tata Motors Ltd said: “Q2FY25 moderated the positive momentum seen by the commercial vehicles industry at the start of the fiscal, due to slowdown in infrastructure project execution, reduction in mining activity and an overall drop in fleet utilization due to heavy rains. Tata Motors Commercial Vehicles domestic sales at 79.8K units were 19.6% lower than Q2 FY24 sales. Our demand-pull strategy and vigilance on costs had the business deliver EBITDA margins of 11.2% in H1FY25. Going forward, with the rains easing, increased infrastructure spending, and the arrival of the festive season boosting consumption, we anticipate demand to pick up “ Shailesh Chandra, Managing Director TMPV and TPEM said: “The Passenger Vehicle industry in Q2FY25 witnessed ~5% decline in registrations, resulting in continued build-up of channel inventory. Sales of EVs were additionally impacted by lapse of certain subsidies. We moderated our offtakes in Q2 to proactively keep our channel inventory under control. Q3 has started off with a resurgence in industry demand on the back of a robust festive season. Tata Motors recorded its highest ever monthly registrations of ~68.5k during October, which helped in bringing down the inventory to normal levels. Our multi-powertrain suite of Curvv, Nexon iCNG and Nexon.ev 45 has garnered strong consumer interest as we continue to ramp up deliveries in Q3.”

Q1FY25 Quarterly Result Announced for Tata Motors Ltd.

Cars & Utility Vehicles company Tata Motors announced Q1FY25 results: Revenue Rs 108.0K crore (+5.7%), EBITDA at Rs 15.6K crore (+6.0%), PBT (bei) Rs 8.8K crore (+Rs 3.3K crore), Auto FCF Rs 1.2K crore (-Rs 1.3K crore) JLR Revenue GBP7.3b up 5.4%, EBITDA at 15.8% (-50 bps), EBIT at 8.9% (+30 bps) Tata CV Revenue Rs 17.8K crore, up 5.1%, EBITDA at 11.6% (+220 bps), EBIT at 8.9% (+240 bps) Tata PV Revenue Rs 11.8K crore, down 7.7%, EBITDA at 5.8% (+50 bps), EBIT at 0.3% (-70 bps) PB Balaji, Group Chief Financial Officer, Tata Motors said: “The first quarter has carried forward the momentum of last year with all businesses continuing to deliver on their distinctive strategies. We are confident of sustaining the performance in the coming quarters and delivering a strong year.” Adrian Mardell, JLR Chief Executive Officer, said: “Thanks to the hard work and commitment of our people, JLR has delivered an outstanding set of results in the first quarter, with record revenues and an increase in year-on-year quarterly profits of nearly 60 per cent. We are making great progress delivering our Reimagine strategy. Our Jaguar TCS Racing Formula E Team, pioneers in electric technology innovation, are winners of this year’s ABB FIA Formula E Team and Manufacturer’s World Championships. We are bringing the lessons learned from this success on the racetrack to our luxury electric vehicles and later this year we will unveil our first next generation luxury electric vehicle, Range Rover Electric, which has more than 41,000 customers on its waiting list.” Girish Wagh, Executive Director Tata Motors Ltd said: “Q1 FY25 registered a positive start for the Indian commercial vehicles sector. Tata Motors recorded commercial vehicles domestic sales of 87,615 units, ~7% higher than Q1FY24 sales. Overall positive market sentiment arising from increased economic activity, continuing infrastructure development, and growing demand of e-commerce, auto aggregates and LPG segments led to sales improving across most segments – HCV, MCV and CV Passenger. The business delivered strong EBITDA margins of 11.6% in Q1FY25. Looking ahead, the widespread onset of monsoon, expectations of policy continuity in the forthcoming budget and thrust on infrastructure should be conducive towards improving overall demand for commercial vehicles. We will continue to drive our demand-pull strategy, step up customer engagement and improve competitiveness while closely tracking any emerging headwinds arising from interest rates, fuel prices and inflation.” Shailesh Chandra, Managing Director TMPV and TPEM said: “The Passenger Vehicle industry in Q1FY25 witnessed retails (registrations) moderating, impacted by the general elections and intense heat waves across the country. Tata Motors sales of 138,682 cars and SUVs was slightly lower compared to Q1FY24, as we proactively readjusted our wholesales in line with retails to keep channel inventory under control. Our multi-powertrain strategy and strong portfolio of SUVs led to steady sales. While the personal segment retails have grown for EVs, there was a sharp decline witnessed in the fleet segment. Going forward, we expect an improvement in overall sales on the back of the onset of the festive season and the launch of Curvv, India’s first SUV Coupe.”

Q4FY24 Quarterly & FY24 Annual Result Announced for Tata Motors Ltd.

Automobiles company Tata Motors announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue: Rs 120.0K crore, up 13.3%. EBITDA: Rs 17.9K crore, up 26.6%. EBIT: Rs 11.0K crore, an increase of Rs 3.8K crore. PBT (bei): Rs 9.5K crore, an increase of Rs 4.4K crore. Net Profit: Rs 17.5K crore, an increase of Rs 12.0K crore. Net automotive debt: reduced to Rs 16.0K crore. FY24 Financial Highlights: Revenues: Rs 437.9K crore, marking a record high. EBITDA: Rs 62.8K crore, the highest ever. PBT (bei): Rs 28.9K crore, also the highest ever. Net Profit: Rs 31.8K crore, achieving a significant increase over the previous year. Deferred Tax Asset: Recognized at Rs 8.3K crore at JLR and TML, aided by the strong performance. The Board of Directors have recommended a final dividend of Rs 3/- per Ordinary Share and Rs 3.10 per A Ordinary Share and a special dividend of Rs 3/- per Ordinary Share and Rs 3.10 per A Ordinary Share subject to approval by the shareholders. JLR(Jaguar Land Rover) Financial Hightlights: Record Q4 and FY24 revenue of GBP 7.9 billion and GBP 29.0 billion respectively. PBT (bei) was GBP 661 million in Q4; FY24 full year PBT (bei) was GBP 2.2 billion, the highest since FY15. EBIT margin in Q4 of 9.2%, FY24 EBIT margin of 8.5%. Free cashflow was GBP 892 million for Q4 and a record GBP 2.3 billion for FY24. Net debt reduced to GBP 0.7 billion. Order book around 1,33,000 vehicles at end of FY24, 76% of which were for RR, RR Sport and Defender. Tata Commercial Vehicles Financial Highlights: Q4 FY24 revenue at Rs 21.6K crore (+1.6%), EBITDA 12.0% (+190 bps), EBIT 9.6% (+100 bps), PBT (bei) Rs 2.0K crore. FY24 revenue at Rs 78.8K crore (+11.3%), EBITDA 10.8% (+340 bps), EBIT 8.2% (+300 bps), PBT (bei) Rs 6.1K crore. Domestic Vahan market share at 39.1% in FY24. HGV+HMV 48.8%, MGV 37.5%, LGV 34.3%, Passenger 35.0%. Truck market share continues to remain strong; SCV market share starting to improve. Over 140 products and 700 variants introduced in FY24. BS VI Phase 2 vehicle portfolio equipped with smarter technologies to deliver even better performance and value. Tata Passenger Vehicles Financial Highlights: Q4 FY24 revenue at Rs 14.4K crore (+19.3%), EBITDA 7.3% (flat YoY), EBIT 2.9% (+150 bps), PBT (bei) Rs 0.5 K crore. FY24 revenue at Rs 52.4K crore, (+9.4%), EBITDA 6.5% (+10 bps), EBIT 2.0% (+100 bps), PBT (bei) Rs 1.4 K crore. VAHAN registration market share increased to 13.9% in FY24. #2 player in H2FY24 with 14.3% market share. Strong market leadership in EV at 73.1% despite increase in competition. EV penetration at 13%, CNG at 16% in FY24. Introduced twin cylinder iCNG technology in Tiago, Tigor, Punch, and Altroz enabling no compromise on boot space. Revolutionized the CNG segment in the country by introducing AMT in its CNG cars. PB Balaji, Group Chief Financial Officer, Tata Motors said: “It is pleasing to report the FY24 results during which Tata Motors Group delivered its highest ever revenues, profits, and free cash flows. The India business is now debt free, and we are on track to become net automotive debt free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years.” Adrian Mardell, JLR Chief Executive Officer, said: “This has been a year of great strategic progress at JLR and I would like to thank our clients, our people, our suppliers and partners for their role in our success. We have delivered a record financial performance for the company, generating free cashflow of GBP 2.3 billion, enabling us to reduce net debt to GBP 0.7 billion. The foundation of this performance was the sustained global demand for our modern luxury vehicles, led by our Range Rover and Defender brands, underpinned by a consistent focus on operational improvement. We are entering the next exciting phase of our Reimagine strategy which will see us bring to life our modern luxury electric vehicles and deliver an accompanying modern luxury experience for our clients, ensuring we continue to vigorously address the challenges we have encountered in 2024.” Girish Wagh, Executive Director Tata Motors Ltd said: “The Indian CV industry grew by a modest 2% in volumes during FY24, impacted by a high base effect of FY23, elections held across 5 states and the announcement of general elections. At Tata Motors, we strengthened our portfolio with the introduction of new passenger and cargo mobility solutions, stepped-up the thrust on digitalization, enriched customer engagement and experience with stronger partnering and made holistic progress on our sustainability agenda. Our sharp focus on profitable growth resulted in the CV business recording its highest-ever revenues of Rs 78.8K crore and profits of Rs 6.1K crore in FY24. Going forward, we will intensify our efforts to grow market share, profitably and consistently, in every business segment by delivering more value to customers with innovative products, smarter services and holistic mobility solutions.” Shailesh Chandra, Managing Director TMPV and TPEM said: “Passenger vehicle sales in India set a record in FY24 with over 4.2 million units sold, driven by SUVs (50% of overall sales) and emission-friendly powertrains. Tata Motors recorded its third consecutive year of highest sales volumes with 6% growth in wholesales and 10% in retail sales over FY23. Our multi-powertrain approach and sharp focus on green technologies increased the penetration of CNG and electric vehicles to 29% in the overall portfolio. We sold 73.8K EVs during the year (up 48% vs FY23) and crossed milestone of 150,000 cumulative EV production. Overall, the business recorded its highest-ever turnover with annual volumes of 573.5K units, growing by 6.0% over FY23, and recorded highest ever profits of Rs 1.4K crore.”

Q3FY24 Quarterly & 9MFY24 Result Announced for Tata Motors Ltd.

Commercial Vehicles company Tata Motors announced Q3FY24 & 9MFY24 results: TML delivered a strong performance in Q3FY24 with Revenue of Rs 110.6K crore (up 25.0%), EBITDA at Rs 15.8K crore (up 60.6%) and EBIT of Rs 9.2K crore (+Rs 5.3K crore) with all automotive verticals continuing their profitable growth trajectory. PBT (bei) improved by Rs 4.4K crore to Rs 7.6K crore and Net Profit was Rs 7.1K crore. For 9MFY24, the business reported strong PBT (bei) of Rs 19.0K crore, an improvement of Rs 22.6K crore over the previous year. Net Automotive debt reduced further to Rs 29.2K crore. JLR revenue improved 22% to £7.4 billion. Improved wholesales and reduced material costs resulted in EBIT margins of 8.8% (+510bps). CV revenue improved by 19.2% and EBIT improved to 8.6% (+270bps) benefiting from higher realisations and richer mix. PV revenues were up by 10.6% and EBIT margins improved by 60 bps to 2.1% led by savings in commodity costs. Achieved net debt reduction of Rs 9.5K crore in Q3 and we are confident of achieving our deleveraging plans. Segmental Performance: JLR Revenue 7.4 billion Pound up 22%, EBITDA at 16.2% (+410 bps), EBIT at 8.8% (+510 bps) Tata CV Revenue Rs 20.1K crore, up 19.2%, EBITDA at 11.1% (+270 bps), EBIT at 8.6% (+270 bps) Tata PV Revenue Rs 12.9K crore, up 10.6%, EBITDA at 6.6% (-30 bps), EBIT at 2.1% (+60 bps) PB Balaji, Group Chief Financial Officer, Tata Motors said: “It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it six quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans.” Adrian Mardell, JLR Chief Executive Officer, said: “We have delivered a further outstanding financial performance in quarter three, with our best quarterly profit for seven years and our highest ever revenue for the first nine months of a financial year. Sales of our modern luxury vehicles hit new records in the quarter and we are excited about the strong client interest for our soon-to-launch Range Rover Electric. I must attribute these results to our talented and dedicated people, who work relentlessly to bring our exceptional modern luxury cars to the market. Looking ahead, we are mindful of the challenges our business will face but are confident that we will continue to successfully deliver our Reimagine Strategy.”