Future of Mobility
Safer. Smarter. Greener.

Tata Motors is spearheading the transition to sustainable, connected and safer mobility. Combining its core strength of engineering with cutting-edge technologies and its human centric design philosophy, the Company is re-imagining its entire product portfolio, value chain and operations to offer holistic solutions and augmented experiences to its customers, in line with their aspirations and lifestyle. The Company is also investing in world-class, new age powertrains to deliver low emissions and superior performance, and is strategically well positioned to offer multiple green fuel options powered by CNG, electric and hydrogen— across segments.

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At a glance

Matchless
performance

The Tata Motors Group is a leading global automobile manufacturer, offering an extensive portfolio of smart, integrated, and e-mobility solutions encompassing cars, utility vehicles, trucks and buses.

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GROUP REVENUE ` in crore

3,45,967

24.2% INCREASE

Highlights

` 2,690 crore

PROFIT AFTER TAX

158

PATENTS FILED (TML)

~ 125 countries

PRESENCE

` 20,265 crore

R&D SPENDS

25

MANUFACTURING FACILITIES

81,811

COLLECTIVE WORKFORCE STRENGTH

Product Portfolio

The luxury of choice

MHCV

SIGNA

MHCV

PRIMA

VANS

MAGIC AMBULANCE

VANS

WINGER

BUSES

STARBUS

BUSES

ULTRA EV

ILCV

ULTRA

ILCV

TATA 407

SCV AND PICKUP

ACE

SCV AND PICKUP

ACE EV

SCV AND PICKUP

NEW INTRA

SCV AND PICKUP

XENON X2

SCV AND PICKUP

YODHA 2.0

SCV AND PICKUP

PRIMA UURO 5 RANGE

PV

TIAGO

PV

TIGOR

PV

ALTROZ

PV

PUNCH

PV

NEXON

PV

HARRIER

PV

SAFARI

EV

TIAGO EV

EV

TIGOR EV

EV

EXPRESS-T EV

EV

NEXON EV

EV

NEXON EV MAX

JAGUAR

JAGUAR F-PACE

JAGUAR

JAGUAR E-PACE

JAGUAR

JAGUAR I-PACE

JAGUAR

JAGUAR F-TYPE

JAGUAR

JAGUAR XE

JAGUAR

JAGUAR XF

LAND ROVER

THE NEW RANGE ROVER

LAND ROVER

NEW RANGE ROVER SPORT

LAND ROVER

RANGE ROVER VELAR

LAND ROVER

RANGE ROVER EVOQUE

LAND ROVER

NEW DISCOVERY

LAND ROVER

DISCOVERY SPORT

LAND ROVER

DEFENDER

LAND ROVER

DEFENDER 130

Auto Expo 2023

Upping the ante

At Auto Expo 2023, we showcased 14 vehicles and concepts that will define our journey towards a sustainable future, and enable our customers to make a seamless transition to clean and commercially viable mobility solutions.

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PRIMA H.55S

India's first Hydrogen ICE powered
concept truck

PRIMA E.55S

India's first Hydrogen fuel cell powered Tractor concept

STARBUS FUEL CELL EV

India's first Hydrogen fuel cell bus for commercial application

AZURA

(7 to 19T range), underpinned by the new generation architecture for I&LCVs, with all new exteriors and interiors

SIGNA

(28 to 55T range), underpinned by the new generation, all‑energy architecture and modern cabin

FLEET EDGE

The next generation digital platform

SAMPOORNA SEVA

Bouquet of value added services

E-DUKAAN

Online marketplace for spares and consumables

ACE EV

Zero emission last mile distribution small commercial vehicle

STARBUS EV

State-of-the-art, Zero emission, Urban public transport solution

ULTRA E .9

Zero emission, battery electric smart logistics city truck for intracity high‑capacity urban cargo transportation

MAGIC EV

Electrified version of India's favourite last‑mile passenger transport

PRIMA E.28K

Zero emission versatile tipper concept for mining and closed loop applications

YODHA CNG & INTRA V20 BI-FUEL

(long range) - new CNG powered pick‑ups

PRIMA G.35K

India's first LNG Tipper for heavy duty applications

WINGER

Premium version of popular Winger with luxurious interiors that re-defines the ride comfort

NEW FOREVER HARRIER #DARK

Unveiled new league of #DARK products with an adaptive User Interface boasting a new look and feel, a desirable larger Infotainment Screen of 26.03 cm and 10 new ADAS features

NEW FOREVER SAFARI #DARK

Unveiled new league of #DARK products with an adaptive User Interface boasting a new look and feel, a desirable larger Infotainment Screen of 26.03 cm and 10 new ADAS features

ALTROZ PUNCH ICNG

Altroz and Punch iCNG versions, with advance features and India’s first twin-cylinder CNG technology with no compromise on boot-space

ALTROZ RACER

Altroz Racer is the performance avatar of the ALTROZ with race car-inspired design combined with exhilarating performance

CURV V

ICE version of the Concept CURVV, merges robust appeal of SUV with the perfect balance between elegance, performance and practicality

TIAGO EV

Launched in FY 2022-23, Tiago EV has accelerated the EV adoption by making it accessible to masses. Received strong response with around 10,000 bookings on the first day

HARRIER EV

HARRIER EV, a Bold, Powerful, Intelligent, Electric All-wheel drive SUV, born of legendary pedigree, offers an extraordinary exterior design and future ready connectivity. This 5 seater monocoque SUV is engineered on the OMEGA Architecture, derived from the legendary Land Rover D8 architecture and developed in collaboration with Jaguar Land Rover. With HARRIER EV we are extending this pedigree to the Gen 2 EV architecture, delivering an uncompromised range and top-notch advanced features

AVINYA

AVINYA concept, an expression of a pure electric vehicle built on the GEN 3 architecture – introduces a new typology of mobility that liberates enormous roominess and comfort. With this, TPEM is all set to unleash a new breed of EVs that will redefine the automobile space. This path-breaking EV will be introduced to the market by 2025

CHAIRMAN'S MESSAGE

Delivering on ambitions for a greater tomorrow

Dear Shareholders,

It is my privilege to write to you and present the Integrated Annual Report of Tata Motors Ltd. for financial year 2022-23. As I mentioned in my letter last year, recent history has been relentless with the global pandemic, military conflict, growing inequality, supply chain shortages and more.

N Chandrasekaran

CHAIRMAN AND
NON-EXECUTIVE DIRECTOR
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Tata Motors is emerging stronger after many challenging years and will remain focused on meeting its financial commitments while sowing the seeds for a greener future.

Key Performance Highlights

On an upward growth trajectory

In FY 2022-23, the business recorded strong financial performance as all three
core auto businesses turned profitable in H2

Business Segments

The future of mobility is customer-focused

Urban mass mobility has witnessed great change, turning greener and versatile. We are an active catalyst in driving this change. From successfully running India’s largest fleet of modern, eco-friendly buses in several cities to providing thousands of all-electric sedans to leading taxi service providers, we are ensuring that the EV revolution is all inclusive.

 
Commercial Vehicles

Targeting
high-octane growth

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We are India's largest CV manufacturer with the widest product and service portfolio catering across cargo and passenger mobility segments. In FY 2022-23, we continue to strengthen our position with superior product and technologies, expanding sales and service network and by providing a range of value-added services.

40+ NEW LAUNCHES
150+ NEW VARIANTS
20.5% PERCENTAGE SHARE OF CONSOLIDATED REVENUES
Units
Sold
4,22,637

UP BY 15%

Passenger Vehicles

Progressing
at full
throttle

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Tata Motors is the third-largest player in India’s PV space. Our PV offerings include various body styles, powertrain options of Petrol, Diesel and CNG , and are equipped with new features that deliver enhanced safety, drivability, comfort and convenience.

10+ NEW VARIANTS
13.8% PERCENTAGE SHARE OF CONSOLIDATED REVENUES
Units
Sold
5,40,965

Electric Vehicles

Leading the
way in
electrification

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Tata Motors is the largest player in India’s EV space. In a short period of 3 years, we have increased our volumes from ~ 1.3K to ~50K vehicles and established ourselves as strong market leader with around 84% VAHAN market share in this evolving space.

2 NEW LAUNCHES
~3800 CHARGING STATIONS OPERATIONAL
Global
WHOLESALE
50,043

154% Increase

Jaguar Land Rover

Innovative design. Sustainable power.

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JLR, known for its premium vehicles and exceptional driving experiences, is guided by innovation and sustainability. With significant investments in electric vehicles, JLR is at the forefront of creating an eco‑friendly transportation future while continuing to deliver on luxury and performance.

1 NEW LAUNCH
5 NEW VARIANTS
64.4% PERCENTAGE SHARE OF CONSOLIDATED REVENUES
Units
Sold
3,72,217

Value creation model

Creating value through our business model

Financial capital

  • → Strong financial foundation supporting sustained business growth
  • → Planned prioritisation of capital allocation

EQUITY CAPITAL INCL. RESERVES

₹ 45,322 crore


INVESTMENT SPENDING

₹ 28,473 crore


NET AUTOMOTIVE DEBT

₹ 43,687 crore

Manufactured capital

  • → Quality-focused, lean manufacturing expertise
  • → Globally competitive, scalable and widely accredited manufacturing facilities
TML*

MANUFACTURING FACILITIES

10


R&D/ENGINEERING AND DESIGN CENTRES

3

JLR

MANUFACTURING AND ENGINEERING FACILITIES WORLDWIDE

12


TECHNOLOGY HUBS

8

* includes data for TML, TMPVL and TPEML

Intellectual capital

  • → Brand trust and reputational advantages
  • → Innovation-driven R&D and design thinking approach
  • → Digital platform enabling strategy execution
  • → Strategic partnerships and collaborations

Product portfolio

R&D SPEND

₹ 20,265 crore

Design applications

TML 79
JLR 229

Patent applications

TML 158
JLR 137

Human capital

  • → Diverse Board with strong leadership expertise
  • → Inclusive workplace policies and practices
  • → Industry specific specialist skills
TML*

TRAINING AND DEVELOPMENT SPEND

₹ 24.1 crore


SPECIALISED TRAINING AND DEVELOPMENT

3,42,368 hours


TOTAL EMPLOYEES

56,727

Permanent employees 27,125
Temporary employees 29,602

Social and relationship capital

  • → Strong stakeholder relationships and corporate reputation
  • → Sustainable supply chain management
  • → Empowering and supporting local communities
TML*

Supplier assessments and screening through sustainable supply chain initiative


CSR SPEND

₹ 20.81 crore


VOLUNTEERED BY EMPLOYEES FOR ACTIVITIES

35,756 hours

Natural capital

  • → Delivering low emission mobility solutions
  • → Focus on water conservation & augmentation
  • → Sustainable and resource efficient operations
  • → Renewable energy adoption
TML*

SPECIFIC DIRECT ENERGY CONSUMED

1.07 GJ/vehicle


SPECIFIC INDIRECT ENERGY CONSUMED

2.00 GJ/vehicle


SPECIFIC TOTAL ENERGY CONSUMED

3.07 GJ/vehicle


WATER WITHDRAWAL

58,42,982 m3

Vision

By FY24, we aim to become the most aspirational Indian automotive brand, consistently winning, by:

  • Delivering superior financial returns
  • Driving sustainable mobility solutions
  • Exceeding customer expectations
  • Creating a highly engaged work forcE
Be Bold Own It Solve Together Be Empathetic
Agility Empowerment Accountability Embracing Diversity
Risk taking Owner’s mindset Collaboration Passion for Customers

Cars and Sport Utility Vehicles

Truck and Buses


Passenger Vehicles (incl. EVs)
5,40,965 UNITS SOLD

Commercial Vehicles
4,22,637 UNITS SOLD

JLR
3,72,217 UNITS SOLD (INCL. CJLR)


Emissions and waste (TML)

  • → Scope 1 emissions 63,728 tCO2e
  • → Scope 2 emissions 2,78,465 tCO2e
  • → Total waste generated 1,69,844 MT

Financial capital

Enhancing corporate value through sustainable growth in order to return profits to shareholders and investors

REVENUE GENERATED

₹ 3,45,967 crore


AUTO FREE CASH FLOW

₹ 7,840 crore


EBITDA MARGIN

10.7%


Dividend declared ₹ 2 per share for ordinary shareholders and ₹ 2.1 per share for DVR holders, outflow of ₹ 771 crore


TMFL Collection efficiency: 108% GNPA: 4.3%,

Manufactured capital

Delivering best-in-class transportation solutions and progressing towards enabling zero-emission options, while maintaining the highest standards of quality and safety

TOTAL UNITS OF VEHICLES SOLD

13,35,819 vehicles


EV units (leading to significant CO2 reduction)

TMPVL 9%
JLR (BEV+PHEV) 12%

EV CHARGING INFRASTRUCTURE SET UP ACROSS CITIES IN INDIA

165

Intellectual capital

Contributing to needs of electrification, automation and energy savings as well as safety and reliability through development of high-quality products and services

Design applications

granted/registered

TML 22
JLR 338

Patents granted

JLR 71
JLR 218

Transition fuels CNG, LNG

Battery EVs in PV, SCV, LCV, Intra City Buses

Hydrogen fuel cell and hydrogen based IC engine technology concept for M&HCV, Intra City Buses

Two fuel-agnostic architectures introduced Azura, Signa Unveiled AVINYA concept-pure EV based on GEN 3 architecture

Human capital

Fostering employees' work values and empowering them to unlock their full potential by cultivating safe and inclusive work environments for a diverse workforce

TML

FEMALE IN TOTAL WORKFORCE

8.8%


EMPLOYEE TURNOVER

7.9%


LTIFR

0.13

Social and relationship capital

Building long-lasting and meaningful relationships with our customers, suppliers, and local communities while promoting sustainable practices.

TML

SUPPLIER ASSESSMENTS CONDUCTED

134


LIVES EMPOWERED THROUGH CSR ACTIVITIES

8.01 lakh

Natural capital

Proactively working towards enhancing our positive impact on the natural environment. As a resource-intensive business, we focus on climate change, energy efficiency, water conservation, and waste management

TML

SHARE OF RENEWABLE ENERGY IN TOTAL ENERGY CONSUMED

25.9%


REDUCTION IN SPECIFIC SCOPE 1 EMISSIONS

10.9%


REDUCTION IN SPECIFIC SCOPE 2 EMISSIONS

24.1%


REDUCTION IN OPERATIONAL WASTE GENERATED

6.3%

VALUE CREATION

The future of mobility is
inclusive

We are breaking new ground in rural India, democratising access and fuelling aspirations of a nation on the move. The Nexon and Punch lead the growing desire for smart SUVs and the launch of the Tiago EV has catalysed demand for EVs beyond metros and cities. To take the best we have to a wider audience, we are deepening our reach by extending our sales and service networks.

STAKEHOLDER ENGAGEMENT

Prioritising stakeholder interests

Our stakeholders are important to us. Continuous engagements and consultations across various stakeholder groups help us understand their concerns and address their queries through our effective stakeholder management framework.

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MATERIALITY ASSESSMENT

Focusing on the imperatives

Materiality assessment helps to define the environmental, social and governance (ESG) areas that matter the most to our business and our stakeholders.

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RISK MANAGEMENT

Navigating uncertainties

At Tata Motors, we closely assess the external environment to capitalise on new opportunities, identify the associated risks and outline the necessary steps to mitigate them. Our well‑defined Enterprise Risk Management (ERM) framework helps effectively manage key risks and evaluates their likelihood and impact on our value-creation abilities to help us achieve our strategic objectives.

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SUSTAINABILITY REVIEW

The future is greener and
cleaner

The sustainability transition is a unique opportunity to bring about a positive change in individuals, corporations, and nations. Through careful planning and execution, collaborations and new paradigms offer numerous opportunities for progress. However, the transition also poses challenges, particularly in complex industries such as ours. Recognising interdependencies and

 
ENVIRONMENT

Building momentum
towards planet resilience

Tata Motors has adopted a holistic approach towards Net Zero, and it involves our business and operational impact and strategy. We are embedding sustainability into our business by focusing on the three interconnected pillars of driving decarbonisation of our businesses and value chain, applying a systemic circular economy approach to reduce resource consumption and waste, along with preserving and restoring our natural environment.

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60% REDUCTION PER VEHICLE KM, ACROSS THE USE OF OUR VEHICLES
46% REDUCTION ACROSS JLR’S OWN OPERATIONS (SCOPE 1&2 EMISSIONS)
54% REDUCTION PER VEHICLE, ACROSS OUR VALUE CHAIN (SCOPE 3 EMISSIONS)
carbon net zero 2045
across Tata group by
2045
SOCIAL: PEOPLE

Motivated to be
better together

At Tata Motors, our people are key to retaining our competitive edge. We are continuously working to create an environment of empowerment through well-defined policies that reflect empathy, celebrate meritocracy and provide ample professional and personal development opportunities.
Our people are welcomed into safe workspaces designed around our values of diversity, equity, inclusion and fair play, giving them a healthy space to flourish. In the year 2021, we launched an internal initiative to refresh our organisational culture and key leadership behaviours.

7.9% Total employee turnover rate
7.64% women employees Employed in FY 2022-23
4,987 TOTAL WOMEN WORKFORCE
6.7% SHARE OF WOMEN IN ALL MANAGEMENT POSITIONS, INCLUDING JUNIOR, MIDDLE AND TOP MANAGEMENT
4.4% SHARE OF WOMEN IN TOP MANAGEMENT POSITIONS (L1&L2)
84 PEOPLE WITH DISABILITIES IN THE WORKFORCE
7.2% SHARE OF WOMEN IN JUNIOR MANAGEMENT (L5&L6)
56,727 TOTAL EMPLOYEES
SOCIAL: COMMUNITY

Accelerating change,
leveraging synergies

Commitment to social development and shared prosperity is deeply embedded in the Tata ethos. At Tata Motors, we develop our Corporate Social Responsibility (CSR) policies, strategies and programmes aligned with the national priorities and UN Sustainable Development Goals.

₹ 20.81 crore CSR SPEND
₹ 1.16 crore SPENT ON RURAL DEVELOPMENT
PROGRAMME IN FY 2022-23
35,068 PEOPLE REACHED
35,756 HOURS DEDICATED BY EMPLOYEES
TO SOCIAL CAUSES
1 million SAPLINGS IN PALGHAR DISTRICT
₹ 30 crore MNREGS SUPPORT FOR LABOUR
WORK AND AFTER CARE
100 AMRIT SAROVARS' REJUVENATION
SOCIAL: VALUE CHAIN

Planting sustainability
in the value chain

Tata Motors is dedicated to undergoing a profound transformation to establish itself as a leader in Sustainable Mobility. Recognising the crucial role of the supply chain in this transformation, TML initiated the Sustainable Supply Chain Initiative in 2017. In this journey, Tata Motors has implemented several measures to ensure ethical and sustainable practices throughout its value chain.
Tata Motors has established a Supplier Code of Conduct, an Environmental Procurement Policy, and Sustainability Guidelines for Suppliers. These guidelines cover a range of key topics, including governance, legal compliance, management system certification, transparency and reporting, occupational health and safety, labour rights, and human rights. By setting these standards, Tata Motors aims to foster responsible practices among its suppliers and partners.

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as a part of this exercise, IN FY 2022-23, we assessed 134 suppliers and 417 Franchise outlets, respectively.

We aim to achieve carbon net zero emissions across our value chain including our suppliers, by 2039, with a CO2e reduction of 54%, per vehicle, by 2030.