Tata Motors Q4FY23 PAT turns around to Rs5,408 crore on 210 bps expansion in EBITDA margins

Tata Motors reported 35.05% growth in total revenues for the March 2023 quarter on consolidated basis at Rs105,932cr. On a sequential basis, the revenues were up 19.71%. While Jaguar Land Rover reported 49% growth in sales revenues in Q4FY23, the Tata Commercial Vehicles business reported sales growth of 14.6% and the Tata Passenger Cars business reported revenues of 15.3%.

For the quarter, the EBITDA margins expanded by 210 bps to 13.3% overall. Out of this, the EBITDA margins of Jaguar Land Rover expanded by 200 bps, Tata Commercial vehicles business by 420 bps and the Tata Passenger cars business by 40 bps. EBIT margins also expanded across the board for all segments. Q4Fy23 was one of the strongest quarters for Tata Motors with net auto debt reduction of Rs13,800 crore. Pricing action and richer mix helped.

Financial highlights for Mar-23 compared yoy and sequentially

 Tata Motors

Rs in CroreMar-23Mar-22YOYDec-22QOQ
Total Income (Rs cr)₹ 1,05,932₹ 78,43935.05%₹ 88,48919.71%
Operating Profit (Rs cr)₹ 6,079₹ 2,302164.05%₹ 3,50573.42%
Net Profit (Rs cr)₹ 5,408₹ -1,033N.A.₹ 2,95882.84%
      
Diluted EPS (Rs)₹ 14.10₹ -2.70 ₹ 7.71 
OPM5.74%2.93% 3.96% 
Net Margins5.10%-1.32% 3.34% 

 

Net profits are not comparable since the company has turned around from a loss in the year ago quarter. The growth has been aided by superior performance of all the 3 segments even as the JLR business has been seeing better traction on the back of reduced supply chain constraints, especially on the chip availability front. The company declared final dividend of Rs2 per share to ordinary shareholders and Rs2.10 per share to DVR shareholders.

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