Reported Earnings • Aug 14
First quarter 2027 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2027 results: EPS: ₹2.10 (down from ₹10.66 in 1Q 2026). Revenue: ₹958.0b (down 8.2% from 1Q 2026). Net income: ₹7.75b (down 80% from 1Q 2026). Profit margin: 0.8% (down from 3.8% in 1Q 2026). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 54%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Auto industry in India. Reported Earnings • Jun 20
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: ₹4.43 loss per share (down from ₹54.02 profit in FY 2025). Revenue: ₹3.39t (down 8.1% from FY 2025). Net loss: ₹16.3b (down 109% from profit in FY 2025). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Board Change • Jun 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Pathamadai Balaji was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 12
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 19 June 2026. Payment date: 14 July 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.2%). Announcement • May 30
Tata Motors Limited Recommends Final Dividend for the Financial Year Ended March 31, 2026, Payable on or Before July 14, 2026 Tata Motors Passenger Vehicles Limited at Board Meeting held on May 14, 2026, had recommended a final dividend of INR 3.00 per equity Share of INR 2 each fully paid-up, i.e. (150%) for the financial year ended March 31, 2026, subject to the approval of Members of the Company at the ensuing AGM. the company has fixed Friday, June 19, 2026 as the "Record Date" for the purpose of determining the entitlement of Members to receive the aforesaid dividend. The payment of dividend, if approved by the Members at the AGM, shall be subject to deduction of tax at source, as applicable and will be distributed amongst the eligible Members, on or before Tuesday, July 14, 2026. Reported Earnings • May 15
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: ₹4.43 loss per share (down from ₹65.01 profit in FY 2025). Revenue: ₹3.41t (down 22% from FY 2025). Net loss: ₹16.3b (down 107% from profit in FY 2025). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • May 14
Tata Motors Passenger Vehicles Limited, Annual General Meeting, Jul 08, 2026 Tata Motors Passenger Vehicles Limited, Annual General Meeting, Jul 08, 2026. New Risk • Mar 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Reported Earnings • Feb 06
Third quarter 2026 earnings: EPS misses analyst expectations Third quarter 2026 results: ₹9.47 loss per share. Revenue: ₹701.1b (down 38% from 3Q 2025). Net loss: ₹34.9b (down 164% from profit in 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Auto industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year. New Risk • Feb 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Announcement • Jan 30
Tata Motors Passenger Vehicles Limited to Report Q3, 2026 Results on Feb 14, 2026 Tata Motors Passenger Vehicles Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 14, 2026 Board Change • Jan 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Pathamadai Balaji was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings are forecast to decline by an average of 2.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.6% net profit margin). Reported Earnings • Nov 16
Second quarter 2026 earnings released: ₹17.50 loss per share (vs ₹9.72 profit in 2Q 2025) Second quarter 2026 results: ₹17.50 loss per share (down from ₹9.72 profit in 2Q 2025). Revenue: ₹738.1b (down 27% from 2Q 2025). Net loss: ₹64.5b (down 293% from profit in 2Q 2025). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Auto industry in India. Price Target Changed • Nov 15
Price target decreased by 7.0% to ₹636 Down from ₹684, the current price target is an average from 28 analysts. New target price is 63% above last closing price of ₹391. The company is forecast to post earnings per share of ₹15.15 for next year compared to ₹65.01 last year. New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.9% net profit margin). Price Target Changed • Nov 10
Price target decreased by 7.4% to ₹673 Down from ₹726, the current price target is an average from 27 analysts. New target price is 64% above last closing price of ₹410. The company is forecast to post earnings per share of ₹51.58 for next year compared to ₹65.01 last year. Price Target Changed • Oct 28
Price target decreased by 9.2% to ₹691 Down from ₹761, the current price target is an average from 27 analysts. New target price is 68% above last closing price of ₹412. The company is forecast to post earnings per share of ₹52.16 for next year compared to ₹65.01 last year. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to ₹391, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 27x in the Auto industry in India. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹346 per share. Announcement • Oct 02
Tata Motors Limited completed the Spin-Off of TML Commercial Vehicles Limited. Tata Motors Limited agreed to Spin-Off Commercial Vehicles business and related investments on March 4, 2024. The Board of Directors of Tata Motors Limited (TML), at its meeting, has approved the proposal of demerger of Tata Motors Ltd into two separate listed companies housing A) the Commercial Vehicles business and its related investments in one entity and B) the Passenger Vehicles businesses including PV, EV, JLR and its related investments in another entity. The demerger will be implemented through an NCLT scheme of arrangement and all shareholders of TML shall continue to have the identical shareholding in both the listed entities. As of August 1, 2024, under the terms, each shareholder of Tata Motors will receive one share of SpinCo for each share they held in the company.
The NCLT scheme of arrangement for the demerger shall be placed before the TML Board of Directors for approval in the coming months and will be subject to all necessary shareholder, creditor and regulatory approvals which could take a further 12-15 months to complete. As of June 4, 2024, Tata Motors has proposed the name of demerged business as "TML Commercial Vehicles Limited" or such other name as may be approved by the Ministry of Corporate Affairs. As of August 1, 2024, Board of Directors of Tata Motors Limited approved the demerger scheme. National Company Law Tribunal has directed, inter alia that a meeting of the equity shareholders of Tata Motors Limited be convened and held on May 6, 2025. As of May 6, 2025 Tata Motors Limited shareholders have overwhelmingly approved the company's proposal to demerge its operations into two separately listed companies. As of August 8, 2025 Effective Date for the demerger will be October 1, 2025. As of August 25, 2025, Hon’ble National Company Law Tribunal, Mumbai Bench sanctioned the scheme.
SBI Capital Markets Limited Investment Banking Arm given Fairness opinion to Tata Motors.
Tata Motors Limited completed the Spin-Off of TML Commercial Vehicles Limited on October 1, 2025. The Record Date is set for October 14, 2025. Further, TMPV stands amalgamated with the Company and ceases to exist w.e.f., October 1, 2025. The shares of TMLCV will be listed with BSE Limited and the National Stock Exchange of India Limited, subject to necessary regulatory approvals. Announcement • Sep 24
Tata Motors Appoints Ravneet Singh as Head of Corporate HR Tata Motors has named Ravneet Singh as its new General Manager and Head of Corporate HR. In the new role, Singh drives key HR initiatives in partnership with business units for Tata Motors' Commercial Vehicle Business. He is also heading strategic HR planning to align workforce capabilities with business goals. Singh has been working with the automaker for over a decade. Reported Earnings • Aug 09
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: ₹10.66. Revenue: ₹1.04t (down 3.4% from 1Q 2025). Net income: ₹39.2b (down 30% from 1Q 2025). Profit margin: 3.8% (down from 5.2% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Auto industry in India. Announcement • Jul 31
Tata Motors Limited (BSE:500570) agreed to acquire Iveco Group N.V. (BIT:IVG) from Exor N.V. (ENXTAM:EXO) and others for €3.8 billion. Tata Motors Limited (BSE:500570) agreed to acquire Iveco Group N.V. (BIT:IVG) from Exor N.V. (ENXTAM:EXO) and others for €3.8 billion on July 30, 2025. A cash consideration of €3.8 billion valued at €14.1 per share will be paid by Tata Motors Limited. As part of consideration, €3.8 billion is paid towards common equity of Iveco Group N.V. The Offer is aimed at acquiring 100% of Iveco's common shares with a subsequent delisting of Iveco Group. Simultaneous to this transaction, Iveco's defense business is also being separated, which is expected to close in Q1, 2026. The transaction will be financed through secured through Bridge financing facility committed by Morgan Stanley & MUFG of €3.8 billion from Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc and MUFG Bank, Ltd. The Offeror commits that the operations of Iveco Group will remain prudently capitalized and financed to safeguard the continuity and sustainable success of the business and the execution of its strategy.
The Offer is subject to obtaining the required merger control, foreign direct investment, EU Foreign Subsidies Regulation and financial regulatory clearances, completion of separation of Iveco's defense business, and minimum acceptance level of at least 95% of Iveco's common shares, which will be reduced to 80% if Iveco adopts the Post-Offer Demerger and Liquidation resolutions at the EGM. The Iveco Group Board of Directors unanimously and fully supports the Offer and recommends the Offer for acceptance by the shareholders of Iveco. The Transaction is expected to close by April 26 post receiving all regulatory approvals.
Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc and MUFG Bank, Ltd., have jointly underwritten the financing facilities of €3.8 billion for funding of the proposed offer. Goldman Sachs Bank Europe SE, Italian Branch acted as fairness opinion provider for Iveco Group N.V. Goldman Sachs Bank Europe SE, Italian Branch acted as financial advisor for Iveco Group N.V. Maisto e Associati and PedersoliGattai acted as legal advisor for Iveco Group N.V. Morgan Stanley India Company Private Limited acted as financial advisor for Tata Motors Limited. Clifford Chance Business Services Private Limited acted as legal advisor and a Due diligence provider for Tata Motors Limited. A.T. Kearney Consulting Private Limited acted as due diligence provider for Tata Motors Limited. PricewaterhouseCoopers Private Limited acted as due diligence provider for Tata Motors Limited. Greenberg Traurig Santa Maria acted as legal advisor to the independent non-executive members of the Iveco Board. De Brauw Blackstone Westbroek N.V. acted as legal advisor for Iveco Group N.V. Announcement • Jul 30
Tata Motors Reportedly Set to Acquire Italian Truck Maker Iveco for $4.5 Billion Tata Motors Limited (BSE:500570) is all set to buy Italian truck maker Iveco Group N.V. (BIT:IVG) from its principal shareholder, the Agnelli family, for $4.5 billion making it the Tata Group's second-largest acquisition after Corus and the largest ever for the automobile major, people aware of the discussions told ET. In 2008, Tata Motors bought Jaguar Land Rover (JLR) for $2.3 billion. A formal announcement on the takeover is expected as early as July 30, 2025, said the people cited above. The boards of Tata Motors and Turin-based Iveco are meeting on July 30, 2025 to approve the transaction, said the people cited above on the condition of anonymity, as the talks are still in private domain. Iveco said on July 29, 2025, it was in "ongoing, advanced" talks with different parties for two separate transactions regarding its defence business and the rest of the company. “The board of directors of the company is in the process of carefully reviewing and evaluating all aspects of these potential transactions,” the company said in a statement, without giving further details. People aware of the proposed M&A deal structure told ET that Tata Motors would buy 27.1% from Exor N.V. (ENXTAM:EXO), the investment company of the Agnelli family, and launch a tender offer (similar to India’s open offer mechanism) to buy out the other smaller shareholder groups. Exor also controls 43.1% of the voting rights of the truck maker. Iveco is demerging its defence business, which will not be a part of the Tata Motors transaction. The Tata Group is confident of buying 100% of the listed Iveco without the defence business. The Italian company had said in May that it would press ahead with plans to either spin off its defence business by the end of 2025 or sell it, having already received offers from potential buyers. Shares of Iveco surged as much as 7.4% intraday on July 29, 2025 on expectations of a transaction. The stock has more than doubled this year, valuing the company at $6.15 billion. Exor and the board of Iveco are believed to be in favour of the sale to Tata as the Agnellis have been an old ally of the group and its former chairman Ratan Tata, a motorhead himself. Tata also had an old joint venture with Agnelli family flagship Fiat Motors in India. The Agnellis are also prominent stakeholders in Ferrari and also control Stellantis, the Dutch automotive group that has subsumed the Fiat brand. Morgan Stanley is advising Tata Motors, while Goldman Sachs is working with Agnellis and Iveco. Clifford Chance is the legal advisor. “Discussions have been ongoing for the last one and a half months and have intensified in recent weeks,” said one of the sources cited above. “Both sides entered into an exclusivity agreement for bilateral negotiations. The exclusivity is due to lapse on August 1.” Tata Motors plans to route this transaction through a Dutch entity, which will be fully owned by Tata Motors. Reuters was the first to report about Tata-Iveco talks for a possible deal on July 18. Announcement • Jul 18
Iveco Reportedly to Draw Takeover Interest from Tata Motors Italian truckmaker Iveco Group N.V. (BIT:IVG) has attracted takeover interest from India’s Tata Motors Limited (BSE:500570), people familiar with the matter said. Tata, the owner of Jaguar Land Rover, has approached the billionaire Agnelli family over its controlling stake in Iveco, according to the people. A sale of Iveco would not include the company’s defense business, which is going through a sale process of its own, one of the people said. Announcement • Jun 21
Tata Motors Limited Approves Appointment of Guenter Karl Butschek as A Director and as an Independent Director Tata Motors Limited announced that at its AGM held on June 20, 2025, the shareholders approved Appointment of Mr. Guenter Karl Butschek as a Director and as an Independent Director. Declared Dividend • May 23
Dividend of ₹6.00 announced Shareholders will receive a dividend of ₹6.00. Ex-date: 4th June 2025 Payment date: 24th June 2025 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 65% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 14
Full year 2025 earnings: Revenues miss analyst expectations Full year 2025 results: Revenue: ₹4.40t (flat on FY 2024). Net income: ₹229.6b (down 27% from FY 2024). Profit margin: 5.2% (down from 7.2% in FY 2024). Revenue missed analyst estimates by 1.6%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Auto industry in India. Announcement • May 13
Tata Motors Limited, Annual General Meeting, Jun 20, 2025 Tata Motors Limited, Annual General Meeting, Jun 20, 2025. New Risk • Mar 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risks High level of debt (47% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Mar 14
Tata Motors Limited Appoints Guenter Butschek, as an Additional Non-Executive Independent Director Tata Motors Limited chosen its former managing director and CEO, Guenter Butschek, as an additional non-executive independent director for a period of five years from May 1, 2025 to April 30, 2030. Butschek has experience in business transformation and organisational restructuring. He is a seasoned global executive and has served in leadership positions at Daimler, Airbus, and Tata Motors, concentrating on business transformation, supply chain optimisation, and industrial operations. He serves as the CEO of Cubonic GmbH and as a non-executive director at Cheesecake Energy Limited, UK. He has served as Tata Motors' MD and CEO from 2016 to 2021. New Risk • Feb 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future. Minor Risks High level of debt (47% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Feb 04
Price target decreased by 8.3% to ₹871 Down from ₹950, the current price target is an average from 31 analysts. New target price is 27% above last closing price of ₹687. Stock is down 26% over the past year. The company is forecast to post earnings per share of ₹58.00 for next year compared to ₹81.97 last year. New Risk • Jan 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 47% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jan 30
Third quarter 2025 earnings: Revenues miss analyst expectations Third quarter 2025 results: Revenue: ₹1.14t (up 2.7% from 3Q 2024). Net income: ₹54.5b (down 22% from 3Q 2024). Profit margin: 4.8% (down from 6.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.8%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Auto industry in India. Price Target Changed • Nov 11
Price target decreased by 7.8% to ₹1,060 Down from ₹1,149, the current price target is an average from 31 analysts. New target price is 32% above last closing price of ₹805. Stock is up 23% over the past year. The company is forecast to post earnings per share of ₹61.30 for next year compared to ₹81.97 last year. Reported Earnings • Nov 09
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: ₹9.72. Revenue: ₹1.03t (down 2.0% from 2Q 2024). Net income: ₹33.4b (down 11% from 2Q 2024). Profit margin: 3.2% (down from 3.6% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Auto industry in India. Announcement • Feb 02
Tata Motors Limited Announces Executive Changes Tata Motors Limited at its board meeting held on February 2, 2024, has noted and taken on record the resignation letter dated February 1, 2024 tendered by Mr. Ravindra Kumar GP, the President and Chief Human Resource Officer (CHRO) of the Company, informing that he desires to pursue his career with another Tata group company. His cessation shall take effect from the close of business hours on March 31, 2024. At the aforesaid Board Meeting, based on the recommendation of the Nomination & Remuneration Committee, the Board has approved the appointment of Mr. Sitaram Kandi as the CHRO as well as a Senior Management Personnel of the Company, with effect from April 1, 2024. As CHRO, Mr. Kandi will also join the Tata Motors Executive Committee. Mr. Sitaram Kandi is an HR professional with over thirty years of experience. Presently, Mr. Kandi is heading the Human Resource function for Tata Motors' Passenger Vehicle and Electric Vehicle businesses and leads the Employee Relations and Skill Development program for Tata Motors Limited. Mr. Kandi is a graduate in mathematics, economics and statistics from Osmania University and holds a Master's Degree from Symbiosis Institute of Management Studies in Labour Laws as well as Labour Welfare and in Business Analytics from the Indian Institute of Management ("IIM") Kolkata. Prior to joining Tata Motors in 2019, Mr. Kandi has worked on diverse facets of HR and Industrial Relations with various MNCs, including, Bosch, Monsanto and General Electric, in India and abroad. Announcement • Oct 20
Tata Motors to Acquire 27% Stake in Logistics Startup Freight Tiger Tata Motors Limited (BSE:500570) said it will buy a 26.79% stake in digital logistics solutions platform Freight Tiger for INR 1.50 billion, with an additional investment of INR 1.00 billion planned over the next two years. Freight Tiger, backed by private equity firm Florintree and venture capital firm Lightspeed, provides end-to-end logistics value chain solutions for cargo movement. In a statement, Tata Motors said the strategic investment in Freight Tiger will accelerate its initiatives in driving "effectiveness and efficiency in the truck and freight ecosystem". The Tata Group company has already introduced its connected vehicle platform Fleet Edge for aiding fleet operations management. "Together, these innovative solutions (Fleet Edge and Freight Tiger) aspire to forge a comprehensive end-to-end digital ecosystem for the entire logistics value chain, covering both the truck and the trip ecosystem thereby bringing significant benefits to shippers, brokers and transporters who keep India moving," said in a statement. Tata Motors said it expects the acquisition to be completed by November 15, 2023. "At Tata Motors, we are committed to transforming the road logistics industry with our innovative solutions and services. We believe that by playing a larger and deeper role in bringing all the stakeholders together to improve road logistics efficiency, we can create value for our core customers: the fleet owners,” said Girish Wagh, executive director, Tata Motors. The Mumbai-based platform, which connects shippers, carriers, logistics service providers, and fleet owners to a unified digital marketplace, claims to facilitate more than 10 million trips on an annualised basis. With Tata Motors’ backing, Swapnil Shah, founder & CEO of Freight Tiger said the company is “strategically positioned” to lead India's efforts in reducing logistics costs to under 10% of GDP from over 14%. Announcement • Aug 12
Tata Motors Limited Appoints Usha Sangwan as Director and as an Independent Director Tata Motors Limited announced that at its Annual General Meeting held on August 8, 2023, approved the appointment of Mrs. Usha Sangwan (DIN:02609263) as a Director and as an Independent Director. Announcement • Jul 26
Tata Motors Limited Appoints Rajesh Kannan as President & Chief Digital and Information Officer, Effective August 1, 2023 Tata Motors Limited at its board meeting held on July 25, 2023 has appointed Mr. Rajesh Kannan as President & Chief Digital and Information Officer, Senior Management Personnel of Tata Motors Limited w.e.f August 1, 2023. The Members of the Nomination & Remuneration Committee have considered and recommended the said appointment of CDIO. Mr. Rajesh Kannan has twenty-eight years of experience delivering transformative, end-to-end digital and IT engagements for global organizations across multiple sectors and industries including retail, consumer products, media and advertising, banking, insurance and financial services. Mr. Rajesh Kannan is a B.Tech in Chemical Engineering from Anna University, Chennai and is Masters in Computer Aided Design in Chemical Engineering from the Indian Institute of Technology, Mumbai. Mr. Kannan prior to joining Tata Motors Limited was working with Tata Consultancy Services Limited. Announcement • May 06
Tata Motors Limited Recommends Declaration of Dividend on the Ordinary Shares and “A” Ordinary Shares for the Financial Year Ended March 31, 2023 Board of Directors of Tata Motors Limited at its Board Meeting scheduled to be held on May 12, 2023 will consider, inter alia, the proposal of recommending declaration of a dividend on the Ordinary Shares and “A” Ordinary Shares of the Company for the financial year ended March 31, 2023, for approval of the shareholders at the forthcoming 78th Annual General Meeting of the Company. Reported Earnings • Nov 10
Second quarter 2023 earnings: Revenues exceed analyst expectations Second quarter 2023 results: Revenue: ₹806.5b (up 31% from 2Q 2022). Net loss: ₹9.45b (loss narrowed 79% from 2Q 2022). Revenue exceeded analyst estimates by 2.4%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in India. Announcement • Oct 12
Tata Motors Limited to Report Q3, 2023 Results on Feb 15, 2023 Tata Motors Limited announced that they will report Q3, 2023 results on Feb 15, 2023 Reported Earnings • Jul 28
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: ₹13.08 loss per share. Revenue: ₹728.2b (up 9.7% from 1Q 2022). Net loss: ₹50.1b (loss widened 13% from 1Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 244%. Over the next year, revenue is forecast to grow 27%, compared to a 14% growth forecast for the industry in India. Reported Earnings • Jun 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: ₹29.88 loss per share (up from ₹36.99 loss in FY 2021). Revenue: ₹2.78t (up 12% from FY 2021). Net loss: ₹114.4b (loss narrowed 15% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 37%. Over the next year, revenue is forecast to grow 23%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year and the company’s share price has also increased by 35% per year. Reported Earnings • May 13
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: ₹29.88 loss per share (up from ₹36.99 loss in FY 2021). Revenue: ₹2.82t (up 12% from FY 2021). Net loss: ₹114.4b (loss narrowed 15% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 36%. Over the next year, revenue is forecast to grow 28%, compared to a 9.7% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 32% per year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President of Commercial Vehicles Business Unit & Executive Director Girish Wagh was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.