Growing Responsibly Image Growing Responsibly Image

Growing responsibly

With our new-age vehicles, services and solutions, we are responsibly driving into a future where smarter, safer and greener mobility is accessible to all.

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FY24 highlights (Consolidated)

Sales

13,80,315 units

Wholesale (excl. CJLR)

Group revenue

4,37,928

(₹ crore)

Market capitalisation

43.57 $ billion

(as on March 31, 2024)

Profit after Tax

31,807

(₹ crore)

R&D spends

29,398

(₹ crore)

Patents registered

670

( TML*+JLR)

Sustainability highlights

Planet

Renewable electricity in Tata Motors India operations

40%

Planet

Plants certified as ‘Water Neutral or Positive’ by CII-GBC

3

Governance

Independent Directors

75%

Board gender diversity

38%

People and culture

Total employee voluntary turnover rate

7.1%

Community

Lives impacted through CSR interventions

10.03 lakh

ESG ratings

Climate change

B

S&P Global ESG score

64/100

* Includes data for TML, TMPVL and TPEML

About Tata Motors

Tata Motors Limited (TML), a $44 billion* organisation, is a leading global automobile manufacturer, offering a diverse portfolio of smarter, integrated and safer mobility solutions. We are recognised for our world-class quality, originality, engineering and design excellence. We are pioneering India’s EV transition, shaping the future of mobility in India.

Our businesses and subsidiaries

TML Group automotive business

  • CV
  • PV
  • EV
  • JLR
  • F

Tata Commercial Vehicles
(TATA CV)

India’s largest CV manufacturer offering the widest range of products and service portfolio catering across cargo and public mobility segments.

Includes TML and subsidiaries:

TMBSL | TML CVMSL | TML SCMSL | TML SCMS J&K | TDCV | TDSC | PTTMIL | TCPL

#1
CV player in India

Tata Passenger Vehicles
(Tata PV + Tata EV)

Legacy of superior design, advanced features, premium interiors and a robust powertrain while leading the way in electrification.

Includes:
TMPVL | TPEML | TMETC | Trilix S.R.L | FIAPL

#3
PV player in India
#1
EV player in India

Jaguar Land Rover
(JLR)

Our vision is to become proud creators of the world’s most desirable modern luxury brands for the most discerning of clients.

Includes:

Jaguar Land Rover Group | JLRTBSI

Vehicle
Financing

Operates as Non-Banking Financial Companies (NBFCs) providing vehicle and related financing solutions.

Includes:

Tata Motors Finance Limited (TMFL)

N Chandrasekaran

Chairman and Non‐Executive Director
Tata Motors Limited

Girish Wagh

Executive Director,
Tata Motors Limited

Shailesh Chandra

Managing Director,
Tata Motors Passenger Vehicles Limited &
Tata Passenger Electric Mobility Limited

Adrian Mardell

Chief Executive Officer,
Jaguar Land Rover Automotive PLC

N Chandrasekaran

Chairman and Non‐Executive Director
Tata Motors Limited

Chairman’s message

Dear Shareholders,

“In the first phase of this multi-year journey, I am pleased to report that your Company has delivered an excellent performance in FY24 with all automotive verticals delivering on their strategies leading to multiple achievements.”

Read more

Girish Wagh

Executive Director
Tata Motors Limited

ED’s message

Dear Shareholders,

“Tata Motors’ domestic CV business continued to offer more value to customers through superior BS VI Phase II product range and a bouquet of customised value-added services, thereby delivering improved realisations.”

Read more

Shailesh Chandra

Managing Director
Tata Motors Passenger Vehicles Limited & Tata Passenger Electric Mobility Limited

MD’s message

Dear Shareholders,

“A customer centric strategy with smart product enhancements enabled us to achieve #1 or #2 position in almost every addressable vehicle segment that we cater to.”

Read more

Adrian Mardell

Chief Executive Officer
Jaguar Land Rover Automotive PLC

JLR CEO’s Message

Dear Shareholders,

“This financial year, we stabilised our business and delivered a strong set of results, which is testament to our exceptional people.”

Read more

Our value creation approach

Vision*

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 workforce

* Pre-restructuring of commercial and passenger vehicles business

Mission

We innovate mobility solutions with passion to enhance the quality of life

Culture pillars

  • Be bold Agility Risk taking
  • Solve togetherAccountability Collaboration
  • Own itEmpowerment Owner's mindset
  • Be empatheticEmbracing diversity Passion for customers

Our strong financial foundation supporting sustained business expansion

`84,918 crore

Net Worth

`42,142 crore

Investment spending

`16,022 crore

Net automotive debt

Our state-of-the-art accredited manufacturing facilities, empowered by quality-focused, lean manufacturing expertise that is globally competitive and scalable

TML

10

Manufacturing facilities

JLR

12

Manufacturing and engineering facilities worldwide

3

R&D/Engineering and design centres

8

Technology hubs

*includes data for TML, TMPVL and TPEML

Our intangible assets, encompassing brand and reputation value, as well as research and development capabilities, innovation capabilities, knowledge, expertise, and strategic partnerships, driving business growth

`29,398 crore

R&D spend

Design applications
TML

117

JLR

449

Patent applications
TML

222

JLR

625

Our organisational culture, workforce, combined knowledge, skills, and experience, facilitating the development of competitive solutions

TML

`38.3 crore

Training and development spend

60,113

Total employees including workers

3,63,932 hours

Specialised training and development for management employees

8,49,534

Health and safety training hours

Our strong stakeholder relationships, driving sustainable supply chain management while supporting local communities for lasting positive impact

Supplier assessments and screening through sustainable supply chain initiative

TML

`21.59 crore

CSR spend

1.17 lakh hours

Volunteered by employees

Our direct utilisation and impact on natural resources through our operations, including energy, water, and other resources, as well as our influence through our activities and products

TML

1.04 GJ/vehicle

Specific direct energy consumed (from fuels)

2.98 GJ/vehicle

Specific total energy consumption

1.94 GJ/vehicle

Specific indirect energy consumed (from electricity)

50,34,479 m3

Water withdrawal

Our key material topics
  • Adoption of Clean Technology
  • Vehicle Life Cycle Analysis
  • Greenhouse Gas Emissions
  • Energy Management
  • Customer Health & Safety
  • Occupational Health & Safety
  • Ethical Business Conduct
  • Governance
  • Stakeholder Centricity
Cars and sport utility vehicles Truck and buses
Emissions and waste (TML)

63,306 tCO2

Scope 1 emissions

2,25,252 tCO2

Scope 2 emissions

1,59,483 MT

Total waste generated

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

`4,37,928 crore

Revenue generated

`26,925 crore

Auto free cash flow

14.3%

EBITDA margin

Final dividend recommended of `3/- per Ordinary Share and `3.10 per A Ordinary Share and a special dividend of `3/- per Ordinary Share and `3.10 per A Ordinary Share, outflow of `2,310 crore

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

13,80,315 vehicles

Total units sold

EV units Sold

13%

JLR (BEV+PHEV)

13%

India PV business

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

145

JLR

279

Patent applications
TML

333

JLR

337

Across Connectivity, Electrification, Sustainability, and Safety (CESS) Vehicle systems – powertrain, body and trim, suspension, brakes, HVAC, and emission control

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

Future-ready workforce upskilled in ACESS, Electric vehicles and Industry 4.0

Employee job satisfaction, engagement and retention

TML

11.1%

Female in total workforce

7.1%

Voluntary employee turnover rate

0.20

LTIFR

Building meaningful relationships with our customers, suppliers, and local communities while promoting sustainable practices. Through collaboration, we create a more equitable and sustainable community.

Our CSR focus areas: health, education, employability, and environmental protection.

TML

836

Assessments for supply chain partners and franchise outlets

10.03 lakh

Lives empowered through CSR activities

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

26%

Share of renewable energy in total energy consumed

21%

Reduction in specific Scope 2 emissions

3%

Reduction in specific Scope 1 emissions

12%

Reduction in specific operational waste generated

8%

Reduction in specific water withdrawal

Business segments

Commercial Vehicles

We are India's largest CV manufacturer with the widest product and service portfolio across cargo and public transportation segments. Be it rough roads, heavy loads or extreme conditions, our vehicles are appreciated for their resilience, reliability and exceptional value.

4,05,471 units

Volumes

140+

New launches

2,600+

E‑buses operational

`78,791 crore

Revenue

700+

New variants

18%

Share of consolidated revenues

72

Highest‑ever NPS

TML e‑bus fleet cumulatively crossed 140 million km with >95% uptime till Q4 FY24.

Read more

Product portfolio

MHCV
...

Signa

...

Prima

BUSES AND VANS
...

Magic Ambulance

...

Winger

BUSES AND VANS
...

Starbus

...

UltraEV

SCV AND PICKUP
...

Ace EV

...

New Intra

SCV AND PICKUP
...

Ace

...

Yodha 2.0

ILCV
...

Ultra

...

Tata 407

INTERNATIONAL
...

Xenon X2

...

Prima Euro 5 Range

Business segments

Passenger Vehicles

We are the third largest car manufacturer in the growing Indian Passenger Vehicle (PV) sector. Known for trendsetting design, cutting‑edge features and the highest levels of safety, our vehicles are available in the widest range of fuel options and body styles, offering comfort and an exceptional driving experience.

5,73,541 units

Volume

10+

New variants

Top 2 SUV Models

Nexon and Punch

`52,353 crore

Revenue

#2 brand

In the auto industry by NPS

12%

Share of consolidated revenue

2nd largest

Sales network in India

1st AMT CNG vehicles

Tiago and Tigor iCNG

Read more

Product portfolio

Existing PV range
...

Tiago

...

Tigor

Existing PV range
...

Altroz

...

Punch

Existing PV range
...

Nexon

...

Harrier

Existing PV range
...

Safari

Business segments

Electric Vehicles

We are the largest player in the Indian EV industry, and are committed to mainstreaming electric vehicles and driving EV ecosystem growth. We have the widest portfolio of EVs, with products available across bodystyles and price points that have been curated for Indian customers.

73,844 units

Volume

2.8 billion+ km

Travelled by Tata EVs

1,50,000 EVs

Cumulatively produced since inception

~ `9,300 crore

Revenue

#1 player

In Indian market

Punch.ev

New launch

Read more

Product portfolio

Existing EV range
...

Tiago.ev

...

Tigor.ev

Existing EV range
...

Punch.ev

...

Nexon.ev

Existing EV range
...

Xpres-T

Business segments

Jaguar Land Rover

JLR revealed its new corporate identity, as part of its move to a House of Brands organisation. The new brand identity aspires to remove ambiguity and bring to the fore the unique DNA of each of JLR’s brands – Range Rover, Defender, Discovery and Jaguar.

4,01,303 units

Volume

£28,995 million

Revenue

69%

Share of consolidated revenues

Read more

Product portfolio

Existing Land Rover range
...

Range Rover

...

Range Rover Sport

Existing Land Rover range
...

Range Rover Velar

...

Range Rover Evoque

Existing Land Rover range
...

Discovery

...

Discovery Sport

Existing Land Rover range
...

Defender

Existing Jaguar range
...

Jaguar F-PACE

...

Jaguar E-PACE

Existing Jaguar range
...

Jaguar I-PACE

...

Jaguar F-TYPE

Existing Jaguar range
...

Jaguar XE

...

Jaguar XF

Business segments

Tata Motors Finance

We are one of India’s leading automotive financiers offering commercial and passenger vehicle loan services. We are dedicated to promoting and sustaining the Tata Motors ecosystem of dealers and vendors by extending short-term and long-term loan facilities.

We have a strong footprint across India and operate through our 350+ branch networks, in addition to Tata Motors dealers’ sales outlets.

`40,060 crore

AUM

12%

CV market share

`88 crore

PBT (bei)

1.9%

ROE (pre-tax)

5.6%

GNPA

3.2%

NNPA

Read more

Award

Won the ‘Excellence in Commercial Vehicle Financing’ Award at the Elets 4th NBFC100 Leaders of Excellence Awards and Summit

R&D and innovation

In FY24, for India business we were granted 333 patents and 145 design applications. Jaguar Land Rover was granted 337 patents and 279 design applications. Our cutting-edge R&D facilities consistently pioneer innovative mobility solutions, developing a range of alternative fuel technologies, from battery-electric to CNG, LNG, Hydrogen Fuel Cell and hydrogen-based ICE technologies.

Tata Motors unveiled two stateof-the-art R&D facilities to promote sustainable mobility solutions, including an engine test cell for developing Hydrogen Internal Combustion Engines and infrastructure for storing and dispensing hydrogen fuel for Fuel Cell and H2ICE vehicles.

State-of-the-art
H2 ICE engine facilities

Revolutionising the Indian CNG market, the twin-cylinder technology offers an innovative industry-first solution. The traditional single cylinder CNG is replaced with two smaller CNG cylinders placed below the luggage area, to ensure a larger usable boot.

Twin-cylinder
CNG range

The new Nexon.ev offered an innovative bi-directional charging technology making the Nexon.ev capable for V2X. This technology allows the customer both vehicle‑to‑vehicle (V2V) charging and vehicle-to-load (V2L) charging, which offers more functionality to the Nexon.ev, and also provides an option for charging in emergency situations.

V2L and V2V
technology

Jaguar Land Rover devotes significant resources in its R&D activities.

JLR's Open Innovation programme was set up in 2022, to deliver global collaboration with start-ups, scale-ups, like-minded external organisations and the wider Tata Group, exploring opportunities in seven key areas: Electrification, Connectivity, Digital Services, Metaverse, Industry 4.0, Talent and Sustainability.

Open Innovation
programme

Awards and accolades

Commercial Vehicle
  • 7 Apollo Commercial Vehicle Magazine Awards
  • Coveted National Energy Conservation Award from President of India
  • Golden Peacock National Quality Award
  • CII Industrial Innovation Award
  • Gunsan Grand Commerce & Industry Award to TDCV
Passenger Vehicle
  • Forbes India Leadership Award 2024 Turnaround Star (Tata Motors)
  • IAA Leadership Awards 2023 Marketer of the Year – Auto (Tata Motors)
  • ACKO Awards 2024 Google most searched car in India (Nexon)
  • IPRCC Awards Best use of PR by brand (Punch)
  • TopGear Awards SUV of the Year (Safari)
Electric Vehicle
  • Jagran Hi-Tech EV Conclave Best Electric Vehicle Manufacturing (Tata Motors)
  • ACKO Awards 2024 Viewer’s Choice Car of the Year (Nexon.ev)
  • ACKO Awards 2024 Best Creative Film of the Year (Sierra.ev)
  • Businessworld Future of Design Awards 2023 Best Concept Design (Avinya)
  • Autocar India Awards 2024 Facelift of the Year (Nexon.ev)
Jaguar and Land Rover
  • Range Rover Sport Named the Auto Express Large Premium SUV of the year 2023.
  • Jaguar and Land Rover (Range Rover, Defender, Discovery) brands placed top of J.D. Power US ‘Automotive Performance, Execution and Layout (APEAL)’
  • Land Rover Defender wins the Large SUV Autovista Group Residual Value Award 2023 JLR is a category award winner for Environmental, Innovation and Investments in the 2023 Awards. This is due to its efforts in investments into research and staff training, attempts to improve the environmental impact of its supply chain, and the implementation of navigation innovations into its vehicles.

Sustainability strategy

As a responsible business, we are adopting ways to reduce our impact on the planet while delivering sustainable solutions to our customers. Our strategy to improve planet resilience is interconnected with our efforts to drive impactful change for our people and communities, and our emphasis on ethical governance.

Planet

Driving net zero

We understand the urgency of the climate crisis. The world is shifting towards new energy sources, cleaner fuels, and sustainable business practices that minimise environmental harm.

293

EV Dealerships

5

Recycling With Respect

72,000

Annual vehicle scrappage capacity

2600+

EV buses operationalised

16 mn KMs

Clocked by ACE EV vehicles

56,488 GJ

Energy saved through Energy Conservation Measures

Tata UniEVerse

Synchronised efforts to develop a holistic ....

Increasing renewable energy usage

Pioneering circular economies

We have developed a comprehensive framework – ‘Tatva’ – that reaffirms our dedication to be a circular business.

Operational waste generated

1,59,483 MT (10% ↓)

Operational Water withdrawal (m3 )

50,34,479 (14% ↓)

Preserving nature and biodiversity

In response to the global biodiversity crisis, Tata Motors is committed to investing in Flagship Biodiversity projects that promise transformative change.

Science-based targets

Setting science-based goals for nature conservation across our entire value chain

OECM integration

Managing habitats around our operations using the Other Effective Area-Based Conservation Measures (OECM) framework to promote ecosystem health and resilience

Flagship projects

Leading large-scale transformation by championing innovative biodiversity conservation projects beyond our immediate footprint

Read more

People and culture

Diversity, equity and inclusion

Tata Motors continues its steadfast dedication to fostering equal opportunities within the organisation and beyond.

8.3%

Share of women in all management positions

9.3%

Share of women in junior management

5.3%

Share of women in top management positions

6,646

Total women workforce

empowHER:

Empowering Women at Tata Motors

17

Transgender individuals employed for facility management services

Wellness at Tata Motors

Tata Motors provided comprehensive wellness services to employees through secondary health prevention measures , primary prevention & primordial prevention.

01

Secondary prevention programs

02

Primary prevention programs

03

Primordial prevention programs

04

Business partner dignity program

05

Emotional Well-being

TML received a Platinum award for healthy workplace programme by ‘Arogya World’

Attaining leadership in health and safety

Tata Motors places utmost importance on quality and safety in its strategic roadmap, ensuring employee well-being despite external challenges. We invest in safety technologies and R&D to deliver the safest vehicles across segments. Our facilities uphold standardised systems, certified for ISO TS 16949 (QMS standard for the automotive industry), ISO 9001 and ISO 14001 (Environmental Management System), as well as for ISO 45001:2018 Occupational health and safety management systems.

Safety governance framework
Every TML plant has a zero incident plan
Read more

Community resilience

Reaching one million and more

In our quest to create a meaningful impact, Tata Motors, in FY 24, through its CSR interventions, could serve one million plus underserved community members across the country.

42.6 lakh

Health

11 lakh

Education

6.5 lakh

Employability

7.5 lakh

Environment

2 lakh

Rural development

1 lakh

Disaster response

` 21.59 crore

CSR spend

10.03 +lakh

Lives impacted

1.17 lakh

Hours volunteered by employees

Planet regenerate

Planet regenerate is our strategy to positively transform the impact of our business on the climate, on resource use and on nature and biodiversity.

Carbon net zero
Circular economy and resource efficiency
Nature and biodiversity
Read more

Governance

In consonance with the Tata Group’s enduring legacy of ethical governance, Tata Motors’ corporate philosophy derives and exercises its commitment of ethical, transparent and accountable governance practices through its Corporate Governance framework. Its commitment to upholding accountability and transparent governance practices. The Board, together with its committees, ensures that the Company is able to conduct its business responsibly and uphold the best interests of its diverse stakeholders.

Sustainability governance

With sustainability becoming central to our organisational ethos, it has ceased to be a top-down initiative and become more embedded in our everyday operations. This shift reflects our commitment to integrating sustainable practices across all levels of the organisation.

Our sustainability governance framework

Responsible value chain

We have initiated a transformative journey alongside our suppliers known as ‘AIKYAM’, derived from the Sanskrit word for ‘Unity’.

Articles of AIKYAM

Article I:

Collaborative Approach to complex challenges

Article II:

Innovation in Sustainability Practices

Article III:

Synergy in our Resources from Sustainable Objective

Article IV:

Capability Enhancement for Sustainability

Article V:

Empowerment for Sustainable Transformation

Read more

TATA Technologies

Tata Technologies is a global product engineering and digital services Company. Since 2019, it has consistently held the top position among India-based automotive R&D service providers in Zinnov Zone. Notably, in FY24, the Company achieved its highest-ever revenue of ₹5,117 crore, marking a substantial 15.9% increase vis-à-vis FY23, along with an operating EBITDA of I941 crore. Over the past three years, revenue from operations has demonstrated a robust 29% CAGR, while operating EBITDA has shown an even stronger growth rate of 35% CAGR. This growth is attributed to significant demand across both services and technology solution sectors. As of March 31, 2024, Tata Technologies had a headcount of 12,688 talented professionals.

#1

India-based, global automotive ER&D service providers in Zinnov Zones since 2019

Among top 2

Global engineering service providers in electrification

12,688

Employees

₹5,117 crore

Highest-ever revenue in FY24

Card Image

Tata Technologies closed with the highest-ever listing day gains*

₹475 to ₹500 per share

Issue price band

7.35 million+

IPO with highest overall applications*

203.4x

Issue with highest QIB subscription*

* All IPOs sized $100 million and above since 2003

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