In a decisive move aimed at fortifying its market position and capitalizing on evolving global trends, Tata Motors Ltd. delivered a resounding performance at its 79th Annual General Meeting. Chairman N. Chandrasekaran heralded the company’s FY24 achievements, revealing a 7.4% surge in vehicle sales to 13.8 lakh units and a substantial revenue uptick to ₹437.9K Cr. Net profits soared to ₹31.8K Cr.
Key highlights included Tata Motors India achieving debt-free status, while plans are in motion to replicate this milestone for JLR by FY25. The Passenger Vehicles segment reported a record-breaking 5.7 lakh units sold, with EVs commanding a 70% market share. Meanwhile, the Commercial Vehicles division saw revenues climb to ₹78,791 crore, with a notable 90% increase in Profit Before Tax (bei).
Looking forward, Tata Motors unveiled plans to demerge into two distinct entities: one focused on Commercial Vehicles and another housing Passenger Vehicles, including PV, EV, and JLR. This strategic restructuring aims to enhance operational efficiency and unlock synergies, particularly in EV technology and autonomous vehicles.Chandrasekaran concluded with a bullish outlook, affirming Tata Motors’ commitment to sustained growth and innovation across its automotive spectrum.
