At the 79th AGM of Tata Motors Ltd, the Chairman expressed confidence in the company’s turnaround and the shifts it is embracing. Despite growth and stability in India, the global geo-political scenario remains troubled with military conflicts. Central banks’ coordinated actions have moderated inflation, but absolute price levels remain high.
The economic scenario is expected to stabilize, with global growth estimated at around 3% in the next few years. Tata Motors is also undergoing structural shifts, including an energy transition to green mobility, rebalancing supply chains for resilience, and digital acceleration with the rise of Artificial Intelligence and Machine Learning.
Tata Motors has demonstrated strong performance in FY24, with its Commercial Vehicles (CV), Passenger Vehicles (PV), and JLR businesses executing strategies to improve performance across metrics such as brand health, customer experience, financial, product innovation, and employee engagement. The company’s total vehicle sales increased 7.4% YoY to over 13.8 lakh units, with revenues of Rs. 437.9K Cr, EBITDA of Rs. 62.8K Cr, and net profit of Rs.31.8K Cr (+Rs.29.1K Cr over the previous year). The India automotive business is now debt-free, and Tata Motors is on track to make JLR debt-free in FY25.