Tata Motors shares surge 2% on debt-free target by 2025
Tata Motors shares surged by 2% on Tuesday, reaching ₹991 apiece. The rise was triggered by the company's optimistic forecast for the upcoming quarters. The automaker, which is India's largest electric vehicle (EV) player, is confident it will achieve financial stability by becoming net debt-free by fiscal year 2025. Additionally, the company has set ambitious targets of attaining a market share exceeding 25% across various segments.
Tata Motors intensifies focus on EV development
Tata Motors is intensifying its focus on electric vehicle (EV) development, with plans to achieve EV EBITDA breakeven by fiscal year 2026. The company also aims for a consolidated 10% EBITDA for its passenger vehicle (PV) and EV operations by fiscal year 2030. This underscores Tata Motors's long-term commitment to profitability and sustainability. EBITDA stands for earnings before interest, tax, depreciation, and amortization.
Tata Motors reports impressive growth in Q4FY24
Tata Motors reported a remarkable 222% growth in its net profit in Q4FY24 at ₹17,407.18 crore. This is a significant increase from the company's Profit after Tax of ₹5,407.79 crore for the same period last year. Tata Motors's British subsidiary, Jaguar Land Rover (JLR), reported a 29% year-on-year increase in May sales, with 6,093 units sold compared to 4,732 units in May last year. JLR's revenues for FY24 reached £29 billion, marking a 27% increase over the previous year.
