About the company:
Tata Motors is a leading Indian multinational automotive manufacturer and a part of the Tata Group. Headquartered in Mumbai, India, the company produces a wide range of vehicles, including passenger cars, commercial vehicles, electric vehicles, and luxury cars through its subsidiary, Jaguar Land Rover (JLR). Tata Motors is known for its innovation in electric mobility, fuel-efficient vehicles, and safety features. With a strong presence in global markets, including the UK, Europe, Africa, and Asia, the company continues to focus on sustainable and technology-driven mobility solutions.
Business Segment Performance:
Passenger Vehicles (PV) & Electric Vehicles (EV)
PV market share improved 0.7% QoQ.
SUV growth of 16% YoY, driven by Nexon CNG & Curvv.
EV market share >53% despite growing competition.
EBITDA Margin for PV & EV: 7.8%, PLI benefits contributed 150 bps.
Jaguar Land Rover (JLR)
Revenue: GBP 7.5 billion, highest-ever Q3 revenue.
EBIT Margin: 9%, best Q3 in a decade.
Wholesales: 1,04,000 units; China sales declined, U.S. sales up 25% YoY.
Net Cash Flow: GBP 157 million.
Key launches: Jaguar relaunch, Range Rover Electric set for late 2025.
Commercial Vehicles (CV)
Revenue: ₹18,400 crores, down 8.4% YoY, but margin improvement due to cost savings.
Buses & vans grew 11% YoY; heavy CVs declined 9% YoY but improving QoQ.
PLI benefits: Added 100 bps to EBIT margins.
Electric buses & trucks gaining traction, 200+ buses delivered in Q3.
Strategic & Market Insights:
Demerger Progressing: Expected completion by October 2025.
PLI Scheme: ₹142 crores received, ₹209 crores accrued.
JLR Facing Challenges in China: Lower sales due to economic slowdown.
EV Infrastructure Growth: Tata Motors working with government & partners.
Outlook:
JLR targets 10% EBIT margin in Q4.
India PV market expected to grow 6-7% in FY26.
Commercial Vehicle segment expected to improve with infrastructure push.
More product launches, focus on alternative fuel vehicles & EVs.
Here is a table summarizing Tata Motors’ financial performance over the last three quarters (Q1 FY25, Q2 FY25, and Q3 FY25):
| Financial Metrics | Q1 FY25 | Q2 FY25 | Q3 FY25 |
|---|---|---|---|
| Revenue (₹ Crores) | 1,02,200 | 1,05,128 | 1,08,000 |
| EBIT Margin (%) | 8.3% | 8.7% | 8.9% |
| Net Profit (₹ Crores) | 7,500 | 8,000 | 8,300 |
| Free Cash Flow (₹ Crores) | 2,200 | 4,500 | 4,700 |
| Net Debt (₹ Crores) | 23,400 | 21,500 | 19,200 |
| JLR Revenue (GBP Billion) | 6.9 | 7.4 | 7.5 |
| JLR EBIT Margin (%) | 8.6% | 8.8% | 9.0% |
Recent updates:
Highlights from last con call:
Financial Performance:
Revenue: ₹1,08,000 crores, up 2.7% YoY.
EBIT Margin: 8.9%, improving 60 bps YoY.
Net Profit: ₹22,300 crores, up ₹3,000 crores YoY.
Free Cash Flow: ₹4,700 crores; Net Debt reduced to ₹19,200 crores.
Dividend: Not specified in the call.