Tata Motors - Well Placed To Capitalise On Emerging Trends: Motilal Oswal

Motilal Oswal Report

Tata Motors Ltd. India Investor Day 2024 highlighted the clear targets that it has set out for individual business segments, which include:

1. Commercial vehicle business: target for free cash flow of 6-8% of revenue, resulting in strong return on capital employed, by growing ahead of the industry and achieving strong double digit Ebitda margin

2. Personal vehicle ICE business: positive and growing cash flows by improving market share to 16% by FY27 and target for double digit Ebitda margin

3. Electric vehicle business: achieve Ebitda break-even by FY26. While Tata Motors Ltd. India business has already become net debt free in FY24, it has set a target for JLR to become net debt free by FY25. Now, Tata Motors individual businesses are self-sustaining and investment spending is well funded.

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