TATA MOTORS LIMITED
Regd.Office: Bombay House, 24, Homi Mody Street, Mumbai 400 001
CIN: L28920MH1945PLC004520
STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2025
Revenue from operations
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| (a) Revenue | 15,546 | 19,869 | 16,732 | 68,869 |
| (b) Other operating revenue | 136 | 130 | 130 | 550 |
| I. Total revenue from operations (a)+(b) | 15,682 | 19,999 | 16,862 | 69,419 |
Other Income
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| II. Other income (refer note 4) | 5,159 | 207 | 1,989 | 2,796 |
| III. Total Income (I+II) | 20,841 | 20,206 | 18,851 | 72,215 |
Expenses
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| IV. Expenses | ||||
| (a) Cost of materials consumed | 9,933 | 11,104 | 10,142 | 39,865 |
| (b) Purchases of products for sale | 1,763 | 2,054 | 2,015 | 7,367 |
| (c) Changes in inventories of finished goods, work-in-progress and products for sale | (1,175) | 555 | (601) | 284 |
| (d) Employee benefits expense | 1,163 | 1,110 | 1,151 | 4,513 |
| (e) Finance costs | 220 | 252 | 344 | 1,122 |
| (f) Foreign exchange (gain)/loss (net) | (92) | 46 | 11 | 71 |
| (g) Depreciation and amortisation expense | 431 | 542 | 477 | 2,008 |
| (h) Product development/engineering expenses | 173 | 266 | 225 | 1,033 |
| (i) Other expenses | 2,243 | 2,728 | 2,292 | 9,488 |
| (j) Amount transferred to capital and other accounts | (278) | (316) | (278) | (1,213) |
| Total expenses (IV) | 14,381 | 18,341 | 15,778 | 64,538 |
Profitability
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| V. Profit before exceptional items and tax (III-IV) | 6,460 | 1,865 | 3,073 | 7,677 |
| VI. Exceptional items-loss (net) (refer note 5) | 10 | 230 | 38 | 325 |
| VII. Profit before tax (V-VI) | 6,450 | 1,635 | 3,035 | 7,352 |
| VIII. Tax expense/(credit) (net) | ||||
| (a) Current tax | 482 | 19 | (15) | 53 |
| (b) Deferred tax | 618 | 234 | 860 | 1,847 |
| Total tax expense (net) | 1,100 | 253 | 845 | 1,900 |
| IX. Profit for the period (VII-VIII) | 5,350 | 1,382 | 2,190 | 5,452 |
Other comprehensive income/(loss)
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| X. Other comprehensive income/(loss) | ||||
| (A)(i) Items that will not be reclassified to profit or loss - gains (net) | 5 | 144 | 93 | 117 |
| (ii) Income tax (expense)/credit relating to items that will not be reclassified to profit or loss | 1 | (22) | (8) | (50) |
| (B)(i) Items that will be reclassified to profit or loss - gains/(losses) in cash flow hedges | (17) | 36 | 21 | 62 |
| (ii) Income tax (expense)/credit relating to items that will be reclassified to profit or loss | 5 | (9) | (5) | (16) |
| Total other comprehensive income/(loss) (net of tax) | (6) | 149 | 101 | 113 |
Total Comprehensive Income
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| XI. Total comprehensive income for the period (IX+X) | 5,344 | 1,531 | 2,291 | 5,565 |
Share Capital and Reserves
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| XII. Paid-up equity share capital (face value of ₹2 each) | 736 | 736 | 767 | 736 |
| XIII. Reserves excluding revaluation reserve | 32,706 |
Earnings per equity share (EPS)
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| (A) Ordinary shares (face value of ₹2 each) | ||||
| (i) Basic EPS | 14.53 | 3.75 | 5.70 | 15.44 |
| (ii) Diluted EPS | 14.52 | 3.75 | 5.70 | 15.43 |
| (B) 'A' Ordinary shares (face value of ₹2 each) | ||||
| (i) Basic EPS | NA | NA | 5.80 | NA |
| (ii) Diluted EPS | NA | NA | 5.80 | NA |
| Note: Not annualised | ||||
Notes to Financial Results
Note 1: These results were reviewed and recommended by the Audit Committee on August 7, 2025 and approved by the Board of Directors at its meeting held on August 8, 2025.
Note 2: These results include the Company's proportionate share of income and expenditure in its Joint Operation, namely Tata Cummins Private Limited and its subsidiary. Below are supplementary details of Tata Motors Limited on standalone basis excluding interest in the aforesaid Joint Operation:
| Sr No | Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|---|
| 1 | Revenue from operations | 15,453 | 19,785 | 16,663 | 68,571 |
| 2 | Profit before tax | 6,375 | 1,590 | 2,962 | 7,164 |
| 3 | Profit after tax | 5,308 | 1,371 | 2,150 | 5,382 |
Note 3: Additional Information pursuant to requirement of Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended and as at quarter ended June 30, 2025:
| Sr No | Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|---|
| a) | Debt Equity Ratio (number of times) [Total Debt(i)/ Equity(ii)] | 0.21 | 0.26 | 0.43 | 0.26 |
| b) | Debt Service Coverage Ratio (number of times) (not annualised) [(Profit after tax + Interest on borrowings + Depreciation and amortisation expenses)/ (Interest on Borrowings + repayment of borrowings(iii)+repayment of lease liabilities)] | 3.63 | 0.55 | 2.88 | 0.97 |
| c) | Interest Service Coverage Ratio (number of times) (not annualised) [(Profit/(loss) before exceptional items and tax+Interest on Borrowings)/Interest on Borrowings] | 35.67 | 9.65 | 12.95 | 9.58 |
| d) | Capital redemption reserve (In crores) | 2 | 2 | 2 | 2 |
| e) | Debenture redemption reserve (In crores) | ||||
| f) | Net worth (In crores)(iv) | 36,586 | 33,442 | 30,164 | 33,442 |
| g) | Net profit for the period (In crores) | 5,350 | 1,382 | 2,190 | 5,452 |
| h) | Earnings per share (EPS) (a) Ordinary shares (face value of ₹2 each) (i) Basic (*) (ii) Diluted (*) | 14.53 14.52 | 3.75 3.75 | 5.70 5.70 | 15.44 15.43 |
| (b) 'A' Ordinary shares (face value of ₹2 each) (i) Basic (*) (ii) Diluted (*) | NA NA | NA NA | 5.80 5.80 | NA NA | |
| i) | Current ratio (number of times) [Current assets / Current liabilities] | 0.60 | 0.61 | 0.53 | 0.61 |
| j) | Long term debt to working capital (number of times) [Long Term Borrowings(v)/Working capital(vi)] | (0.73) | (1.28) | (0.78) | (1.28) |
| k) | Bad debts to Account receivable ratio (%) [Bad debts(vii) / Average of trade and Other Receivables(viii)] | 0.51% | 0.60% | ||
| l) | Current liability ratio (number of times) [Current liabilities (excluding current maturities of long term debt, interest accrued on borrowings) / (Total liabilities)] | 0.68 | 0.64 | 0.69 | 0.64 |
| m) | Total debts to total assets (number of times) [(Non current borrowings + Current borrowings) / Total assets] | 0.11 | 0.13 | 0.20 | 0.13 |
| n) | Debtors turnover (number of times) (not annualised) [Revenue from operations / Average Trade receivables] | 6.08 | 6.72 | 5.46 | 27.52 |
| o) | Inventory turnover (number of times) (not annualised) [Raw material consumed(ix) / Average Inventory(x)] | 2.73 | 3.89 | 3.00 | 14.35 |
| p) | Operating margin (%) [(Profit/(loss) before tax +/(-) Exceptional Items + Net Finance Charges + Depreciation and amortisation - Other Income (excluding incentives)) / Revenue from operations] | 12.28% | 12.66% | 11.54% | 12.05% |
| q) | Net profit margin (%) [Net profit after tax / Revenue from operations] | 34.12% | 6.91% | 12.99% | 7.85% |
Note 4: The Company received dividend from subsidiary companies as below:
| Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|
| Dividend received from subsidiary companies | 4,913 | 10 | 1,806 | 1,831 |
Note 5: Exceptional Items
| Sr No | Particulars | June 30, 2025 | March 31, 2025 | June 30, 2024 | Year ended March 31, 2025 |
|---|---|---|---|---|---|
| a) | Provision for employee pension scheme on higher salary | 7 | 111 | 27 | 165 |
| b) | Employee separation cost | 3 | 11 | 12 | 55 |
| c) | Past Service cost- Post retirement medicare scheme | 108 | 108 | ||
| d) | Reversal of cost of closure of/provision for investment in subsidiary company | (1) | (2) | ||
| e) | Reversal of impairment of property, plant and equipment and provision for Intangible assets under development (net) | 230 | 38 | (1) | |
| Total exceptional loss (net) | 10 | 230 | 38 | 325 |
Note 6: The Board of Directors has, at its meeting held on August 1, 2024, approved (subject to the requisite and other approvals) a Composite Scheme of Arrangement involving the demerger of its Commercial Vehicle ("CV") business undertaking into TML Commercial Vehicles Limited (newly incorporated entity) and the merger of Tata Motors Passenger Vehicles Limited with the existing listed company thereby resulting in two separate listed companies for the CV and Passenger Vehicle businesses. The Scheme of Arrangement has been heard by National Company Law Tribunal on August 8, 2025 and the same has been reserved for order.
Note 7: Extended Producer Responsibility ("EPR") for End of Life of Vehicles for OEMs was notified in January 2025, w.e.f. April 1, 2025. EPR calls for OEMs to buy certificates from Registered Vehicle Scrapping Facility ("RVSFs") equivalent to 8% for the first 5 years and goes up to 18% by 2039 of steel used in its vehicles 15 years back in case of Commercial Vehicles. Central Pollution Control Board ("CPCB") is in the process of giving clarity of the EPR policy including a) Cost of the certificate b) Clear methodology for calculating steel content/liability targets for OEMs c) Process for transaction between OEMs and RVSFs and thus the cost of meeting the obligations under EPR cannot be reliably estimated as at June 30, 2025.
Note 8: On July 30, 2025, the Company and Iveco Group N.V. ("Iveco"), announced reaching an agreement to create a commercial vehicles group through all-cash voluntary tender offer for Iveco common shares. The completion of the offer, expected to be completed by April 2026, is conditional, inter alia, on the separation of Iveco's defence business and other regulatory approvals. The offer represents a total consideration of approximately 38,200 crores (€3.8 billion) for Iveco, excluding Iveco's defence business and the net proceeds from the defence business separation.
Note 9: The figures for the quarter ended March 31, 2025 represent the difference between the audited figures in respect of full financial year and the published figures for the nine months ended December 31, 2024.
Note 10: The Statutory Auditors have carried an audit of the above results for the quarter ended June 30, 2025 and have issued an unmodified opinion on the same.
