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TATA Motors Annual Report 2023 Summary

  • Tata Motors Group is a global leader in automobile manufacturing, offering a diverse range of commercial, passenger, and electric vehicles. With a commitment to technological excellence, safety, and sustainability, we are driving India's transition to electric mobility while pioneering innovation in the fast-evolving Indian automotive market.

  • The Company is investing in eco-friendly powertrains like CNG, electric, and hydrogen. They aim for EVs to make up 50% of their portfolio by 2030. Tata Motors and JLR are working together to provide a wide range of green mobility choices. They're not only focusing on green fuels but also on charging infrastructure, fuel cell tech, and material substitution to achieve Net Zero emissions by 2045.

  • FY 2022-23 Higlights

    1. Group Revenue: ₹3,45,967 crore (a 24.2% increase)

    2. Units Sold (including CJLR) in Primary Business Verticals: 13,35,819

    3. Patents Filed by TML: 158

    4. Manufacturing Facilities: 25

    5. Commercial Vehicles (CV): #1 player in India with 4,22,637 units sold

    6. Passenger Vehicles (PV): #3 player in India with 5,40,965 units sold (including EVs)

    7. Electric Vehicles (EV): #1 player in India with 50,043 units sold

    8. JLR Iconic brands (JAGUAR AND LAND ROVER): 3,72,217 units sold (including CJLR)

  • Tata Motors Group values partnerships for tech integration, recently raising ₹7,500 crore with TPG Rise. Through Tata UniEVerse, they aim to accelerate EV adoption in India.

  • In FY 2022-23, Tata Motors launched over 40 new products and 150+ variants, including India's first CNG vehicle in MHCV, Yodha 2.0, Intra V20 bi-fuel, Intra V50, and ACE EV, while incorporating advanced driver assistance systems (ADAS) technology into its vehicles.

  • The Ace EV from Tata Motors boasts a certified range of 154 km and offers advanced features like regenerative braking and fast charging for high uptime and all-weather performance.

  • Tata Motors introduced the Tiago EV, an electric hatchback featuring segment-first premium attributes.It offers two IP67-rated battery pack options, offering ranges of 250 km and 315 km, along with four charging solutions for customers to tailor their mobility needs.

  • Tata Motors has introduced a new family of Turbocharged Gasoline Direct Injection engines to meet the demand for improved performance and lower emissions. These lightweight, high-performance engines offer an excellent blend of power, refinement, and fuel efficiency, providing customers with an exciting driving experience.

  • In FY 2022-23, Tata Motors experienced significant growth, with a 23% increase in vehicle sales to 13,35,819 units. Revenues reached a record high of ₹3.46 lakh crore, up 24%, while EBITDA improved to ₹37.0K crore, and PBT (bei) turned positive at ₹1.5K crore. All three core auto businesses became profitable in the second half of the year, and the free cash flow (automotive) improved substantially to ₹7.8K crore from a negative ₹9.5K crore in FY 2021-22.

  • Passenger and electric vehicle business achieved remarkable results, with annual sales surpassing 5,41,000 vehicles, marking a 45% growth over FY 2021-22. They became the third OEM in India to exceed 5,00,000 annual sales, with electric vehicle sales reaching 50,000 units, constituting 12% of Q4 sales.

  • In response to increasing demand and nearing production capacity, they acquired a state-of-the-art vehicle manufacturing facility in Sanand, Gujarat, with scalable capacity up to 4,20,000 units per annum.

  • Tata Motors faced challenges in the first half but restructured its operations for "Profitable Growth." They transitioned from a 'supply chain push' model to a 'retail pull' model, concentrating on VAHAN registration volumes and achieving double-digit EBITDA margins in Q4 FY23.

  • JLR ended the year in a strong position, with an appealing product portfolio, a substantial backlog of nearly 200,000 customer orders, and a clear strategy to transform Jaguar into an all-electric luxury brand, starting with the unveiling of the first new electric vehicle in 2024 and customer deliveries commencing in 2025. Pre-orders for the all-electric Range Rover are set to begin later this year.

  • In Nepal, market share jumped to 50% from 12% in FY 2019-20 owing to strong shift towards EVs

  • Tata Motors smoothly transitioned its entire product portfolio to BSVI Phase 2, exceeding the timeline. During this transition, the company incorporated smart technologies and improved features in its vehicles to provide enhanced value, comfort, and convenience to customers

  • Tata Motors is India's largest commercial vehicle (CV) . It has over 40 new launches, a 20.5% share of consolidated revenues, and the introduction of more than 150 new variants in the company's achievements.

  • TML Smart City Mobility Solutions Limited (TSCMSL) is at the forefront of Tata Motors' clean mobility strategy, focusing on electric vehicles (EVs) for commercial vehicles as a service. In FY 2022-23, TSCMSL deployed 100 electric buses, and there are now over 730 e-buses operating on Indian roads, covering more than 50 million kilometers cumulatively.

  • Tata Motors introduced the Xenon X2, featuring double and single cabins, in key international markets to target discerning consumers seeking pickups with enhanced suspension and ride comfort. Additionally, the upgraded Prima Euro 5 range was launched in the Middle East with increased horsepower, positioning it to compete effectively against established Japanese and European rivals.

  • Tata Motors' passenger vehicle (PV) business maintained strong momentum in FY 2022-23, achieving significant growth in domestic wholesales and retails. The company's PV domestic wholesales increased by 45.4% year-on-year to reach 538.5k vehicles, while retails grew by 44.2% to 523.5k vehicles during the same period.

  • The trend towards electrification is expected to strengthen further. In FY 2023-24, the company aims to sustain market-beating growth, increase electric vehicle (EV) penetration, consolidate market share gains, achieve double-digit EBITDA, and maintain positive free cash flows. Additionally, the integration of the new Sanand factory into its industrial footprint will unlock capacity for future growth.

  • Tata Motors will target high Total Industry Volume (TIV) urban micro-markets and rural areas while driving initiatives to promote EV and CNG sales.

  • Tata Motors addressed semiconductor supply challenges by taking proactive measures, ensuring a steady supply. Market demand normalized during FY 2022-23, and the company implemented tailored marketing strategies and enhanced the sales process for effective customer engagement.



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