Tata Motors (TMCV) Q4 24/25 earnings summary

Executive summary

• Achieved highest ever full year consolidated revenues and profit before tax (PBT) before exceptional items in FY25, with strong sequential recovery in Q4.

• Net auto cash position reached ₹1.0K Cr, fulfilling deleveraging commitments.

• JLR achieved its net cash positive target and delivered its best full-year profit in a decade.

• Standalone revenue from operations for FY25 was ₹69,419 crore, down from ₹73,303 crore in FY24, with Q4 FY25 revenue at ₹19,999 crore, a sequential increase from Q3 FY25.

• Profit for FY25 was ₹5,452 crore, a decline from ₹7,902 crore in FY24; Q4 FY25 profit was ₹1,382 crore.

Financial highlights

• FY25 consolidated revenue was ₹439.7K Cr, up 1.3% year-over-year; Q4 revenue was ₹119.5K Cr, up 0.4% YoY.

• FY25 consolidated EBITDA margin at 13.1%, down 100 bps YoY; Q4 EBITDA margin at 14.0%.

• FY25 consolidated PBT (before exceptional items) at ₹34.3K Cr, highest ever.

• Net cash from operating activities for FY25 was ₹9,795 crore, up from ₹8,662 crore in FY24.

• JLR Q4 revenue £7.7b, EBIT margin 10.7%, PBT (bei) £875m; full year EBIT margin 8.5%.

Outlook and guidance

• Investment spend to remain at £18b over five years, funded by operational cash flows.

• Guidance under review due to recent UK-US trade deal; update to be provided at upcoming Investor Day.

• Focus remains on value optimisation, cost control, and cash accretive growth amid global headwinds.

• The Board approved a demerger of the Commercial Vehicle business and merger of the Passenger Vehicles business, pending regulatory approval.