Tata Motors / Q1-FY25

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Positive2024-07-25Back to TATAMOTORS

Revenue

Pending

verification pending

Revenue YoY

5.7%

reported change

EBITDA

Pending

latest reported figure

Source

bse pending

record provenance

Actual signal trajectory

Where this quarter sits.

source records only
Revenue (₹ Cr)PositiveWatchNegative
9 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q2 FY24: 1,05,000 · Positive source sentiment · 2023-11-03Q2 FY24Q4 FY24: 1,20,000 · Positive source sentiment · 2024-05-10Q4 FY24Q2 FY25: 17,535 · Negative source sentiment · 2024-10-30Q2 FY25Q3 FY25: 18,819 · Watch source sentiment · 2025-01-29Q3 FY25Q4 FY25: 21,863 · Watch source sentiment · 2025-05-15Q4 FY25Q1 FY26: 17,324 · Negative source sentiment · 2025-07-31Q1 FY26Q2 FY26: 18,585 · Negative source sentiment · 2025-10-30Q2 FY26Q3 FY26: 21,847 · Negative source sentiment · 2026-02-10Q3 FY26Q4 FY26: 26,098 · Positive source sentiment · 2026-05-15Q4 FY261,20,00017,324
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Tata Motors reported a decent Q1 FY25 with revenue growth of 5.7% YoY, driven by volume and mix, though volume grew only 2.5%. EBITDA margin was flat at 14.4%, while PBT before exceptional items surged to INR 8,800 crore, aided by favorable commodities. JLR delivered a record Q1 revenue of GBP 7.27 billion and EBIT of 8.9%, marking the sixth consecutive quarter above 6%. The India CV business posted highest-ever Q1 revenue of INR 17,849 crore with EBITDA margin expansion of 220 bps to 11.6%. PV business saw flat wholesale volumes but maintained market share at 13.7%, with EV margins improving 6% YoY. Management expects gradual demand recovery in India driven by infrastructure spending and festive season, while JLR faces near-term aluminum supply disruption but maintains full-year EBIT and net cash guidance. Key risk: aluminum supply disruption could constrain JLR production in Q2-Q3.

Colored figures show movement against the previous available record.

Guidance to track

  • JLR reaffirms full-year EBIT guidance of greater than or equal to 8.5%, despite aluminum supply disruption.
  • JLR targets achieving net cash position by end of FY25, consistent with prior guidance.
  • JLR expects full-year capital expenditure to be close to GBP 3.5 billion, with engineering spend peaking in Q1.
  • The demerger of CV and PV businesses is targeted to be effective from July 1, 2025, with 1:1 share entitlement and 60:40 asset ratio.

Risks flagged

  • A key aluminum supplier was impacted by a flood, expected to constrain JLR production in Q2 and Q3 FY25.
  • JLR's China wholesale volumes declined YoY; demand is muted and requires close monitoring.
  • Dealer inventory for PV business is at 35-40 days, above the 30-day target, which could pressure wholesales.
  • Post-FAME II expiry, EV fleet demand dropped 45-50% in Q1, impacting EV volumes and mix.

Key quotes

  • We are convinced the best is still to come.
  • New Jaguar will be a copy of nothing. It will be exuberant, modernist, unique, fearless, and very progressive.
  • We are confident of sustaining the performance in the coming quarters and delivering a strong year.

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