Tata Motors Ltd. showcased robust financial performance and outlined ambitious strategic shifts at its 79th Annual General Meeting today, underscoring its resilience amid global challenges. Chairman N. Chandrasekaran highlighted the company’s stellar fiscal year 2024 results, reporting a 7.4% increase in total vehicle sales to over 13.8 lakh units and revenues reaching ₹437.9K Cr. The net profit surged to ₹31.8K Cr, marking a significant growth over the previous year.
Addressing shareholders, Chandrasekaran emphasized Tata Motors’ strategic pivots, including a sharp focus on green mobility, supply chain resilience, and digital acceleration with AI and ML integration. The company’s turnaround was underscored by Tata Motors India achieving a debt-free status and a clear path to replicate this achievement for Jaguar Land Rover (JLR) by FY25. The Passenger Vehicles (PV) segment reported a record sales figure of over 5.7 lakh units, with electric vehicles (EVs) commanding a substantial 70% market share in their category. The Commercial Vehicles (CV) business also saw impressive growth, posting revenues of ₹78,791 crore and a noteworthy 90% increase in Profit Before Tax (bei).
JLR, overcoming earlier supply chain disruptions, recorded its highest-ever annual revenues of £29 billion (+27% YoY), along with substantial profits and free cash flows, setting the stage for its ambitious Reimagine strategy.Looking ahead, Tata Motors plans to demerge into two separate entities to enhance focus and operational agility: one for Commercial Vehicles and another for Passenger Vehicles, including PV, EV, and JLR. This strategic move aims to unlock synergies and bolster growth prospects in EVs, autonomous vehicles, and vehicle software.
