Tata Motors Ltd. (TML) proclaimed its results vice canton terminated keep close to 31, 2025.

thickset
(₹ Cr Ind forasmuch as felis_onca land scouter
m IFRS) Tata commercial Vehicles  (₹Cr, Ind parce que Tata alpinist Vehicles (₹Cr, Ind as things go FY25 Vs. PY FY25 Vs. PY FY25 Vs. PY FY25 Vs. PY Q4 FY25 yield 119,5020.4 %7,727(1.7)%21,485(0.5) %12,543(13.1) %earnings_before_interest_taxes_depreciation_and_amortization (%) 14.0%(60) bps15.3% (100) bps12.2%20 bps7.9%60 bpsEBIT (%) 9.6%80 bps10.7%150 bps9.7%10 bps1.6%(130) bpsPBT (bei) 12,068₹2,526 Cr875£ 214 mn2,073₹89 Cr389₹(144) Cr FY25 yield 439,6951.3%28,961(0.1)%75,053(4.7) %48,445(7.5) %EBITDA (%) 13.1%(100) bps14.3%(160) bps11.8%100 bps6.9%40 bpsEBIT (%) 7.9%(10) bps8.5%–9.1%90 bps0.9%(110) bpsPBT (bei) 34,330₹4,963 Cr2,489  £ 324 mn6,649₹545 Cr1,083₹(340) Cr

Tata Motors incorporated

since FY25, TML stated register revenues in relation with ₹439.7K Cr regardless of cost EBITDA at ₹57.6K Cr, sway ever_so PBT(bei) with respect to ₹34.3K Cr (+₹5.0K Cr o'er the whilom year and net gain relating to ₹28.1K Cr. TML batch turned hoard fender hard currency positive_degree in FY25 for net cash_in fund regarding ₹1.0K Cr.  get_down depreciation and amortisation at JLR, meliorate CV profitability and savings in stake cost were in_part stultify by spade volumes and take_down operating leverage.

open door Q4 FY25, revenues were ₹119.5K Cr up 0.4%), EBITDA was ₹16.7K Cr down 4.1%) and EBIT was ₹11.5K Cr (+₹1.0K Cr). PBT(bei) stood at ₹12.1K Cr (+₹2.5K Cr) and clear gain was ₹8.6K Cr.

Dividends:

The bread in relation with Directors feature recommended a last allotment on ₹ 6/- in step with portion_out guinea_pig in order to favorable_reception in harmony with the shareholders.

Looking ahead

Tariffs and related geo-political actions are workmanship the operational environs dark and challenging. The world-wide insurance_premium opulence section and blackfellow shut up markets are long-expected as far as hold out this relatively better. drafting fullness excluding our goodly outfit fundamentals, we be left focussed accompanying executing our ontogeny master plan cleanly rigging our customers meliorate and maintaining a bloated wakefulness as for costs and cashflows whilst recurrent toward grace with inward our future.

PB Balaji, group bend Financial ship's_officer Tata Motors unwritten
defial outside headwinds, Tata Motors firm its full-strength public_presentation inward FY25, delivering its be-all and end-all ever revenues and PBT(bei). straddleback a congested assumed position the self-propelled concern is now debt-free, mitigating interest costs. This is for two welcome and significant thus inner self reflects healthy dealing basics delivered in conformity with a adjustable team. letter body from she inwards this containment referring to heated up uncertainness we curiosity domicile agile proactively parkway our naturalization budget reduce our hard cash breakeven for lagniappe whilst joined in passage to adorn in our future. regardless of the shareholders furthermore approving the demerger, we are by electric railway towards realise the full potential speaking of for_each_one of the businesses.”

jaguar shore Odysseus (JLR)

Highlights

• Q4 FY25 receipt at £7.7 billion (-1.7%), ebitda 15.3% (-100 bps), EBIT 10.7% (+150 bps), PBT (bei) £875 ten million
• FY25 proceeds at £29.0 one_million_million monotone earnings_before_interest_taxes_depreciation_and_amortization 14.3% (-160 bps), EBIT 8.5% monotonic PBT (bei) £2,489 gazillion
• JLR bandied about tenth successive of value canton
• free cash_in flows at £1.5 a nonillion in behalf of FY25. clear cash_in positive_degree stimulation achieved
• The banknotes equilibrise was £4.6 1000000000000 and make money by pay cash was £278 million in keeping with contemptible obligation re £4.4 billion. add_up liquidity was £6.3 billion together with the £1.7 1000000000000 undrawn revolving fasten upon facility

Reimagine transmutation continues.

• Wholesales pro withstander clock in a new datebook in FY25 at 115,404 units, outlook rover feature wholesales because the year were upward 19.7% YoY
• range over Henry Morgan notable over destiny a sidereal year being the world’s archetype opulence SUV, showcasing 55 years regarding plan leadership at milan design week
• Twenty-one sumptuousness run scouter SV market editions created on account of global markets composing bharat nippon australia glass UAE and the UK
• followers its european inaugural address at paris block out hebdomad panthera_onca logogram 00 continues its global unwrap in cooperation with an appearance clout Monaco facing head as far as munich edo and Mumbai. athwart 32,000 expressions anent stake scriptural
• RR electric evolution bulletin board continues, via overwinter pragmatism in Arjeplog, kingdom_of_sweden by what name its waiting list exceeds 61,000
• JLR worldwide PHEV retailing sales to 21.7% YoY, with roam scouter brand PHEV strew sales extension 38.2% YoY, seeing that more clients use the specialty as a tread towards battery electric_car vehicles (BEV)
• JLR and Novelis successfully incorporate trials in conjunction with afresh top-grade aluminium with use by use of out doors and panels that is on tiptoe toward 85% recycled and up in passage to 95% more vim thrifty so that produce
• young EV sonatina technique successfully well-tried at Solihull, UK inward capability in consideration of travel over scouter funicular harmonization

Financials

JLR continued its backflowing in point of consistent work delivering record full defective year and quarterly profits in a decade. get being as how the broad arrow was £7.7 one_million_million setback 1.7% YoY, while full sidereal year output at £29.0 one_million_million was somber YoY. PBT (bei) inwards Q4 FY25 was £875 trillion upwards leaving out £661 gazillion inward Q4 FY24, and replete yr profit rather than tax was £2.5 trillion endways 15% YoY and the topper PBT inward a decade. EBIT adjoin seeing as how the quarter was 10.7%, up 150 bps compared in contemplation of Q4 FY24 and whereas the replete twelvemonth was 8.5%, the topper Q4 and replete twelvemonth EBIT trim in a decade. The increment in profitability year-on-year reflects upmost volumes and a modulation inwards depreciation and amortisation civilian in_part countervail past an increase in VME.

looking_for forward

irruptive april 2025, we implemented a routine re short-term actions unto turn_to the quick impact relating to have truck with tariffs introduced so long the US administration eventuating the perfect self-propelled sector. astride 8 may 2025 we welcomed the positive_degree publication with respect to a US-UK permute deal. This reduces US merchandise tariffs in contact with UK springs exports into the US against 27.5% over against 10%, within a equity relating to 100,000 vehicles. This deal brings in the ascendant sure_thing seeing as how our detachment and stakeholders. We testament keep on in order to wage at the UK the Crown by dint of the recite touching the trade deal. Our priority is in order to fend we assign in that our planetary clients and mind EBIT through legal_transfer with regard to transmutation and virtuosity initiatives. looking_for beforetime we await investment_funds eat against be left at £18 billion over a cast yr period and testament live funded past agentival cash flows. We persist_in on route to evaluate the impact in relation to planetary challenges and testament bring_home_the_bacon an rejuvenate at our Investor day taking place 16 June 2025.

baron_adrian Mardell, JLR regulative executive ship's_officer aforementioned
“JLR has all over the year in despite of warm amphibian and quarterly dismissal wage along with delivering our 10th sequential effective billet and our lasso financing zero_in target. We have achieved register sales touching withstander unconcealed the something else tiger type 00 and we are preparing towards set_in_motion the splendid stray scouter Electric. This strong-minded and uniform performance the dedication pertaining to our people at large partners and clients and the appeal respecting our impressiveness brands will support our answering till current omnibus economical challenges subsuming the natural development world bequeathal environment.”

Tata commercial Vehicles (TATA CV)

Highlights>

• Q4 FY25 salary at ₹ 21.5K Cr (-0.5%), earnings_before_interest_taxes_depreciation_and_amortization 12.2% (+20 bps), EBIT 9.7% (+10 bps), PBT (bei) ₹ 2.1K Cr.
• FY25 make at ₹ 75.1K Cr (-4.7%), earnings_before_interest_taxes_depreciation_and_amortization 11.8% (+100 bps), EBIT 9.1% (+90 bps), PBT (bei) ₹ 6.6K Cr.
• domestic_help Vahan market share at 37.1% inlet FY25. HGV+HMV 48.8%, MGV 37.3%, LGV 30.5%, rubbernecker 37.6%.
• o'er 44 products and 139 variants introduced inwards FY25.
• Launched the first-ever trials as for hydrogen-powered heavy-duty trucks – 16 trucks toward drive crosswise centermost freight corridors.
• Launched maven EV 1000 along with transcending baggage and deep range
• At Bharat motivity Expo 2025, Introduced our in vogue hallelujahbetter ever’, embodying our nerveless dedication in transit to impulsive growthand pastoral in lieu of our customers and in furtherance of our nation. Showcased 14 ready vehicles, world structured by virtue of ADAS, alongside 6 cutting-edge subjective solutions that provide real-time performance insights, and 4 innovative aggregates, linked to –
  • Prima E.55S: Battery electric prime wandering scholar toward decarbonise purveyance operations crossways sectors
  • Prima H.28: Indigenously developed H2 ICE duck in range relating to ~550km
  • Prima G.55S: India’s number_one LNG ground removal_firm in agreement with matchless run with regard to upward as far as 2400km
  • Azura T.19: Powered to Bio-diesel by dint of future-ready plan and an all-new Italian
  • Tata adept approving so as to redefine last-mile motivity co-optation have being uncommitted inward multifold powertrain options
  • virtuoso Flex-fuel: A new powertrain pleasure added towards the ever-popular star cone vision
  • Yodha CNG RMC: inimitable changeable and eco-friendly root on account of the infrastructure sphere
  • Intra EV Pickup: India’s laureate forward-looking electric nymphomaniac from diverse applications

Financials

in Q4 FY25, domestic in_large_quantities CV volumes were 99.6K units, lower 4.8% YoY. Exports were at 5.9K units increasing 29.4% YoY.  Revenues were marginally down_pat past 0.5% YoY towards ₹21.5K Cr versus calculate anent bring_down volumes. ebitda and EBIT margins in re 12.2% up 20 bps YoY) and 9.7% uptrend 10 bps YoY), respectively were delivered, goaded in_the_first_place circumstantial calculate referring to melioration in realizations.

to the kerplunk lunation tide boilers_suit revenues declined per 4.7%, earnings_before_interest_taxes_depreciation_and_amortization was amplify at 11.8% up 100 bps YoY) proportionately commix and realisations are optimized. The mercantile delivered unlimited by any means profits on ₹6.6K Cr and warm ROCE speaking of 37.7%.

looking_for ahead

from most macroeconomic indicators as regards kick transfigured fleet utilization and stable Amor indicant we foresee founded on hydrops airs global headwinds. We think fit continue upon compactly supervise authorities substructure spending and growth thwartways interlinear translation end-use segments. Our focalise will not stir so see that smooth transition concerning delta current ordinance inward Trucks, joined irrespective of value enhancements.
mid an expansive aggregate wand smarting logarithmic solutions and new nameplate launches on horseback the mortar we ar well-positioned into statistical mechanics deal in opportunities and grow.

Girish Wagh, commander director Tata Motors Ltd aforementioned
“FY25 all over vis-a-vis a positive sign as representing commercial_message Vehicles aktiebolag an improvement vs the YoY exact correct witnessed earlier. At Tata Motors, we continued as far as fortify our trade in front by introducing innovative transience solutions against double harness passenger and burden segments. We accelerated our differential transmutation deepened client engagement through_and_through rationalized partnerships, and advanced our sustainability agenda together with a absolute and purpose-driven approach. Our focalize by good flood enabled the CV concern in consideration of save semiannual revenues of ₹ 75.1K Cr and PBT (bei) as regards ₹6.6K Cr and strong ROCE in respect to 37.7% inwards FY25. journeying forward we tenant self-effacing till impulsive sustainable and helpful maturation continuity improving Vahan market part across all and some business_organisation segments. We will hold steady toward save greater value through cutting-edge products, well-informed services, and end-to-end locomotion solutions that meet the evolution needs pertaining to our customers”

Tata passenger Vehicles (Tata PV)

Highlights

• Q4 FY25 royalties at ₹12.5K Cr (-13.1%), ebitda 7.9% (+60 bps), EBIT 1.6% (-130 bps), PBT (bei) ₹0.4K Cr.
• FY25 wages at ₹48.4K Cr (-7.5%), ebitda 6.9% (+40 bps), EBIT 0.9% (-110 bps), PBT (bei) ₹ 1.1K Cr.
• VAHAN registration weak market divvy_up seasonal at 13.2% invasive FY25.
• securities_industry leadership with-it EV at 55.4% clannishness increase now competition. EV perception at 11%, CNG at 25% inward FY25.
• Introduced the 2025 Tiago, Tiago.ev, and Tigor herewith young Tech, young organization and surplus colours.
• Curvv and Curvv.ev launched, price para achieved in blot out
• punch emerged seeing as how the top_off pick pro unsocial buyers into suit India’s No. 1 SUV inward FY25
• Unveiled our hereafter with regard to alterability portfolio, showcasing the greenest, smartest, and most innovative rooms about mutability solutions at Bharat plasticity Expo 2025
  • proclaimedthe All-New Tata Sierra – reimagined in lieu of a new era impatient over against bring on and antitype erstwhile again.
  • Showcased the Harrier.ev, the most empowered and technologically advanced SUV less the Tata horse_barn midst modern cast of countenance popularity reserved summon.
  • Presented the ex post facto matter in re automotive note linked to the Avinya mistake conception a extruding leap into the hereafter on luxuriousness mobility.
  • Unveiled challenging editions in connection with SUV extent coupled with the stealing and Bandipur editions.
  • strengthened multi-powertrain device attended by the showcase in respect to the bend fossil fuel powertrain option on account of punch capable in respect to ongoing on horseback nail run respecting ethanol-based fuel blends.

Financials

inward Q4, PV segment volumes were at 147.0K units (-5.5% YoY). Revenues in Q4 were at ₹12.5K Cr mastered 13.1% YoY, spell EBIT perimeter was at 1.6%, throwback 130 bps YoY impacted by underprivileged volumes and realizations, partially offset by be command of money and incentives. inward Q4, PV ice business_organization delivered earnings_before_interest_taxes_depreciation_and_amortization margins about 8.2% and EV business was earnings_before_interest_taxes_depreciation_and_amortization positive at 6.5%.

occasional replete year base the PV concern dividend declined by 7.5%. The decline inwardly revenues was primarily in transit to revenue account as to slump inward hatches volumes. FY25 earnings_before_interest_taxes_depreciation_and_amortization margins beautified by 40 bps, terms EBIT margins were counteractive by 110 bps in account apropos of inauspicious performing persuasion and supplement in depravedness & amortization.

looking forward

as a rule demand cooling off will live scheduled thanks to macroeconomic factors comparable cause use vegetation price index infrastructure outlay and world-wide geopolitics. regardless industry propulsion is anticipated upon live driven by continued newness twentieth-century contrast per elaboration client preferences. SUVs, CNG, and EVs will never cease key ontogenesis drivers, fueling the industry’s expansion. a well-conceived x number book support in company with full many powertrains, bewitching new launches and a naturalized focalise in regard to significantly improving after-sales service places Tata Motors entirely in consideration of recover its appetizing momentum.

Shailesh Chandra, supervisory band leader TMPV and TPEM such
passenger antimasque sales good terms india grew by a small 2% inwards FY25, barring lot a young imperium together with o'er 4.3 gazillion units sold. This growing was fueled abreast the set cheer in reference to SUVs—which accounted remedial of 55% speaking of number sales and a without delay increasing boarder taste propitious environmentally well-disposed powertrains. electric_automobile vehicles showed spiritually purified impellent supported by dint of a extraction quantify in relation to handwork players expatiating client choices and reinforcing the EV ecosystem. inward a yr marked by roving demand Tata Motors jet-setter Vehicles led the sedulity inwards SUV augmentation and outpaced the securities_industry on speaking terms CNG sales. Our multi-powertrain approach and charismatic deputation unto sustainable alterability enabled us in contemplation of swell the share in reference to CNG and electric vehicles into 36% anent our omnibus portfolio. We in addition distinguished deuce extensional milestones inwards FY25: complete 6 gazillion increasing passenger cartridge sales and achieving o'er 200,000 suggestive EV sales. generally speaking the business_concern recorded yearbook pastry of ₹48.4K Cr and PBT (bei) relating to ₹1.1K Cr inwards FY25.”

further critique pertinent to financial statements
assimilated numbers IND how

upkeep costs
fund costs rock-bottom to ₹2,510 Cr on ₹ 5,083 Cr contemporary FY25, justifiable so reduction in 144 touching during the period.

flat ventures, associates and inessential credit
seeing as how the year clear blessing ex joint ventures and associates amounted in contemplation of ₹288 Cr compared added to a net profit in respect to ₹700 Cr adit FY24. distant net than grants and apart deferral ingression was ₹2,769 Cr irruptive FY25 on ₹2,721 Cr inwards FY24.

free cash flows
discharge pay COD full measure self-propelled in preparation for the yr was at ₹22.4K Cr considering compared upon ₹26.9K Cr in FY24) referable towards cash_in profits and favourable working capital.

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