TATA MOTORS LIMITED Financials Tata Motors Limited NSE India S.E.
Equities
TATAMTRDVR
IN9155A01020
Auto & Truck Manufacturers
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 635.5 INR | +1.19% |
|
-9.98% | +22.47% |
| May. 16 | Indian Equities Gain on Thursday on Renewed US Rate Cut Hopes | MT |
| May. 15 | Indian Equities Posts Mild Losses on Wednesday Ahead of US Consumer Inflation Data | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 546,894 | 235,235 | 1,067,374 | 1,544,487 | 1,503,057 | 3,431,675 | - | - |
| Enterprise Value (EV) 1 | 1,010,127 | 740,267 | 1,747,205 | 2,534,566 | 2,389,506 | 4,249,626 | 3,853,623 | 3,646,905 |
| P/E ratio | -2.05 x | -2.04 x | -8.16 x | -14.5 x | 66.9 x | 12.1 x | 14.2 x | 11.8 x |
| Yield | - | - | - | - | - | 0.3% | 0.49% | 0.52% |
| Capitalization / Revenue | 0.18 x | 0.09 x | 0.43 x | 0.55 x | 0.43 x | 0.83 x | 0.73 x | 0.67 x |
| EV / Revenue | 0.33 x | 0.28 x | 0.7 x | 0.91 x | 0.69 x | 0.97 x | 0.82 x | 0.71 x |
| EV / EBITDA | 4.1 x | 2.88 x | 5.72 x | 10.2 x | 7.15 x | 7.13 x | 5.68 x | 4.82 x |
| EV / FCF | -6.15 x | -24.1 x | 19.9 x | -286 x | 13.8 x | 11.6 x | 16.5 x | 11.4 x |
| FCF Yield | -16.2% | -4.15% | 5.03% | -0.35% | 7.24% | 8.59% | 6.07% | 8.76% |
| Price to Book | 0.98 x | 0.39 x | 2.09 x | 3.23 x | 3.55 x | 5.34 x | 3.42 x | 2.7 x |
| Nbr of stocks (in thousands) | 3,395,851 | 3,597,474 | 3,828,811 | 3,829,165 | 3,829,847 | 3,832,242 | - | - |
| Reference price 2 | 174.3 | 71.05 | 301.8 | 433.5 | 420.6 | 936.4 | 936.4 | 936.4 |
| Announcement Date | 5/20/19 | 6/15/20 | 5/18/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,019,384 | 2,610,680 | 2,497,948 | 2,784,536 | 3,459,670 | 4,379,278 | 4,718,436 | 5,140,532 |
| EBITDA 1 | 246,643 | 256,721 | 305,573 | 247,988 | 334,063 | 595,622 | 678,955 | 755,844 |
| EBIT 1 | 10,737 | 42,467 | 70,086 | -369.2 | 85,460 | 322,920 | 376,919 | 430,113 |
| Operating Margin | 0.36% | 1.63% | 2.81% | -0.01% | 2.47% | 7.37% | 7.99% | 8.37% |
| Earnings before Tax (EBT) 1 | -313,712 | -105,800 | -104,743 | -70,034 | 30,576 | 279,551 | 334,109 | 395,959 |
| Net income 1 | -288,262 | -120,708 | -134,514 | -114,415 | 24,143 | 313,991 | 247,895 | 299,692 |
| Net margin | -9.55% | -4.62% | -5.38% | -4.11% | 0.7% | 7.17% | 5.25% | 5.83% |
| EPS 2 | -84.89 | -34.88 | -36.99 | -29.88 | 6.290 | 81.88 | 66.02 | 79.48 |
| Free Cash Flow 1 | -164,128 | -30,691 | 87,951 | -8,856 | 172,923 | 365,017 | 233,934 | 319,581 |
| FCF margin | -5.44% | -1.18% | 3.52% | -0.32% | 5% | 8.34% | 4.96% | 6.22% |
| FCF Conversion (EBITDA) | - | - | 28.78% | - | 51.76% | 61.28% | 34.46% | 42.28% |
| FCF Conversion (Net income) | - | - | - | - | 716.25% | 116.25% | 94.37% | 106.64% |
| Dividend per Share 2 | - | - | - | - | - | 3.000 | 4.549 | 4.901 |
| Announcement Date | 5/20/19 | 6/15/20 | 5/18/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,268,989 | 756,538 | 886,279 | 664,064 | 613,788 | 722,293 | 784,391 | 719,347 | 796,114 | 884,886 | 1,059,324 | 1,022,361 | 1,076,522 | 1,083,666 | 1,216,091 | 1,114,384 |
| EBITDA 1 | 100,862 | 115,096 | 127,448 | 52,576 | 40,498 | 67,642 | 87,271 | 31,805 | 61,962 | 96,430 | 125,808 | 128,759 | 140,613 | 148,174 | 176,536 | - |
| EBIT 1 | -3,251 | 53,809 | 65,277 | -9,446 | -20,735 | 6,861 | 22,950 | -26,605 | 2,989 | 35,712 | 55,306 | 62,427 | 79,946 | 85,968 | 112,250 | 94,432 |
| Operating Margin | -0.26% | 7.11% | 7.37% | -1.42% | -3.38% | 0.95% | 2.93% | -3.7% | 0.38% | 4.04% | 5.22% | 6.11% | 7.43% | 7.93% | 9.23% | 8.47% |
| Earnings before Tax (EBT) 1 | - | 41,674 | -76,433 | -25,786 | -34,716 | -6,121 | -3,411 | -34,680 | -14,612 | 32,026 | 47,841 | 46,527 | 50,335 | 54,488 | 97,201 | - |
| Net income 1 | - | 29,064 | -76,054 | -44,509 | -44,416 | -15,161 | -10,328 | -50,066 | -9,446 | 29,577 | 54,078 | 32,028 | 42,439 | 47,925 | 71,774 | - |
| Net margin | - | 3.84% | -8.58% | -6.7% | -7.24% | -2.1% | -1.32% | -6.96% | -1.19% | 3.34% | 5.1% | 3.13% | 3.94% | 4.42% | 5.9% | - |
| EPS 2 | - | 8.040 | -20.24 | -11.62 | -11.60 | -3.960 | -2.700 | -13.07 | -2.470 | - | 14.10 | 8.340 | 11.70 | 15.13 | 21.70 | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4.428 | - |
| Announcement Date | 10/25/19 | 1/29/21 | 5/18/21 | 7/26/21 | 11/1/21 | 1/31/22 | 5/12/22 | 7/27/22 | 11/9/22 | 1/25/23 | 5/12/23 | 7/25/23 | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 463,232 | 505,032 | 679,831 | 990,079 | 886,449 | 614,558 | 421,948 | 215,229 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.878 x | 1.967 x | 2.225 x | 3.992 x | 2.654 x | 1.032 x | 0.6215 x | 0.2848 x |
| Free Cash Flow 1 | -164,128 | -30,691 | 87,951 | -8,856 | 172,923 | 365,017 | 233,934 | 319,581 |
| ROE (net income / shareholders' equity) | -1.9% | -7.46% | -22.7% | -22.9% | 5.37% | 48.2% | 26.4% | 25.1% |
| ROA (Net income/ Total Assets) | -0.46% | -1.46% | -4.04% | -3.4% | 0.72% | 8.89% | 6.73% | 7.99% |
| Assets 1 | 62,665,717 | 8,257,468 | 3,326,259 | 3,368,705 | 3,333,734 | 3,533,725 | 3,681,816 | 3,752,134 |
| Book Value Per Share 2 | 177.0 | 182.0 | 144.0 | 134.0 | 118.0 | 175.0 | 274.0 | 347.0 |
| Cash Flow per Share 2 | 55.60 | 77.00 | 75.70 | 43.00 | 92.40 | 177.0 | 137.0 | 169.0 |
| Capex 1 | 353,035 | 297,020 | 202,054 | 151,684 | 180,957 | 314,136 | 343,159 | 346,534 |
| Capex / Sales | 11.69% | 11.38% | 8.09% | 5.45% | 5.23% | 7.17% | 7.27% | 6.74% |
| Announcement Date | 5/20/19 | 6/15/20 | 5/18/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
30
Last Close Price
936.4
INR
Average target price
1,077
INR
Spread / Average Target
+14.97%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +31.21% | 296B | |
| +7.65% | 72.54B | |
| -4.29% | 70.48B | |
| +17.26% | 54.52B | |
| +27.70% | 51.88B | |
| +1.56% | 49.15B | |
| +21.38% | 39.63B | |
| +37.14% | 30.73B | |
| +45.17% | 27.95B |
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