Tata Motors, a key player in the Indian automotive industry, has unveiled its consolidated financial results for the fourth quarter of FY24, showcasing remarkable growth and profitability across its automotive segments.
- Revenue Surge: Tata Motors recorded a significant revenue growth of ₹120.0K Cr in Q4 FY24, marking a notable increase of 13.3% compared to the previous year. The full fiscal year FY24 also witnessed a record-breaking revenue of ₹437.9K Cr, representing a substantial surge of 26.6% over the previous year.
- Profitability Soars: The company reported an impressive EBITDA of ₹17.9K Cr in Q4 FY24, reflecting a robust growth of 26.6%. For the full fiscal year FY24, Tata Motors achieved its highest-ever EBITDA of ₹62.8K Cr. Moreover, the Profit After Tax (PAT) for Q4 FY24 stood at ₹17.5K Cr, marking a remarkable increase of ₹12.0K Cr over the previous year.
- Segment-wise Performance: Tata Motors’ automotive segments, including Jaguar Land Rover (JLR), Tata Commercial Vehicles (Tata CV), and Tata Passenger Vehicles (Tata PV), all contributed significantly to the company’s stellar performance.
Jaguar Land Rover (JLR):
- JLR reported a record Q4 revenue of £7.9 billion and a full-year revenue of £29.0 billion, marking the highest-ever full-year revenue for the company. The Profit Before Tax (bei) for FY24 was £2.2 billion, the highest since FY15.
- Strong financial performance was driven by increased volumes, reduced material costs, and higher profitability margins. Free cash flow for the quarter was £892 million and a record £2.3 billion for the full year.
- JLR’s strategic focus on operational improvement and the Reimagine Transformation strategy are expected to drive continued growth and innovation in the coming years.
Tata Commercial Vehicles (Tata CV):
- Tata CV witnessed steady growth, with Q4 revenue reaching ₹21.6K Cr, up 1.6% year-on-year. The full fiscal year FY24 revenue stood at ₹78.8K Cr, reflecting an 11.3% increase over the previous year.
- Despite challenges in the domestic market, Tata CV maintained its market share and delivered strong profitability margins. The company introduced several new products and initiatives focused on sustainability and technological advancement.
Tata Passenger Vehicles (Tata PV):
- Tata PV reported impressive growth in Q4 FY24, with revenue reaching ₹14.4K Cr, up 19.3% year-on-year. The full fiscal year FY24 revenue stood at ₹52.4K Cr, reflecting a 9.4% increase over the previous year.
- The PV segment continued its leadership in electric vehicles (EVs) with a market share of 73.1%, despite increased competition. The introduction of new models, technological advancements, and a strong focus on sustainability contributed to the segment’s success.
Dividends and Future Outlook:
Tata Motors’ Board of Directors has recommended a final dividend and a special dividend, subject to approval by shareholders. Looking ahead, the company remains cautiously optimistic about domestic demand and expects to deliver a strong performance in FY25 across all segments.
Tata Motors’ exceptional performance in Q4 FY24 underscores its resilience, innovation, and commitment to delivering value to shareholders and customers alike. With a robust portfolio, strategic initiatives, and a focus on sustainability, the company is well-positioned for continued growth and success in the dynamic automotive landscape.
