At its 79th Annual General Meeting, Tata Motors Ltd. Chairman N. Chandrasekaran announced record-breaking performance for FY24 and unveiled strategic plans for future growth. Despite global geopolitical instability and inflation, Tata Motors achieved consolidated revenue of ₹437.9K crore and a net profit of ₹31.8K crore, marking a significant year-on-year increase. The India automotive business is now debt-free, with JLR expected to follow by FY25.
Chandrasekaran emphasized Tata Motors’ alignment with global shifts toward green mobility, resilient supply chains, and digital acceleration. The company saw a 7.4% increase in total vehicle sales, reaching over 13.8 lakh units. The PV & EV segment reported record sales of over 5.7 lakh units. With a strong focus on emission-friendly technologies, the company maintained over 70% market share in EVs and achieved top safety ratings for new models.
This segment experienced an 11.3% revenue growth, reaching ₹78,791 crore. Efforts are directed toward profitable growth through both vehicular and non-vehicular businesses.JLR achieved its highest-ever annual revenues of £29 billion. The brand’s new identity and luxury focus position it for continued success, with new electric models forthcoming.Strategic moves included delisting American Depositary Shares, a successful IPO of Tata Technologies Ltd, and the merger of Tata Motors Finance with Tata Capital Ltd. The proposed demerger aims to create two listed entities for enhanced agility and focus.Tata Motors’ growth positively impacts markets like Kolkata, where increased vehicle sales and service demands bolster the local economy, reflecting consumer confidence and market leadership.
