Tata Motors Ltd. held its 79th Annual General Meeting (AGM) today, where Chairman N. Chandrasekaran detailed the company’s robust performance in FY24 and outlined strategic initiatives for future growth. Amid global geopolitical turmoil and persistent inflation, Tata Motors has demonstrated resilience, capitalizing on India’s growth and stability.The Chairman highlighted the company’s alignment with major global shifts, including green mobility, resilient supply chains, and digital acceleration. Tata Motors reported a consolidated revenue of ₹437.9K crore, with a net profit of ₹31.8K crore, marking a significant year-on-year increase.
The India automotive business is now debt-free, and JLR is expected to follow suit by FY25.The PV & EV segment in India achieved record sales of over 5.7 lakh units, driven by a focus on emission-friendly technologies. The company’s EV market share remains strong at over 70%, with new models receiving top safety ratings. Tata Motors also operationalized a new production facility in Sanand. This segment saw an 11.3% revenue growth, reaching ₹78,791 crore. The focus remains on profitable growth through vehicular and non-vehicular businesses, including smart mobility and digital solutions.JLR reported its highest-ever annual revenues of £29 billion, achieving significant financial stability. The brand’s new identity and strategic focus on modern luxury position it for continued success, with exciting new electric models on the horizon.
Key corporate actions included the delisting of American Depositary Shares, a successful IPO of Tata Technologies Ltd, and the merger of Tata Motors Finance with Tata Capital Ltd. Looking ahead, Tata Motors plans a demerger to create two listed companies, enhancing strategic focus and agility.In a related note, Tata Motors’ impact on local markets like Guwahati has been significant, driving economic activity and consumer confidence. The company’s continued innovation and market leadership are expected to boost local economies further.
