Tata Motors Announced Q1FY23 Result :
- Revenue Rs 71.9KCr, EBITDA at Rs 5.3KCr, PBT (bei) Rs (5.0)KCr, Auto FCF Rs (9.8) KCr
- Consolidated Revenue Rs 71.9KCr, up 8.3%, EBITDA at 7.4% (- 90 bps), EBIT at -0.7% ( +60 bps)
- JLR Revenue £ 4.4b, down 11.3%, EBITDA at 6.3% (-270 bps), EBIT at -4.4% (-350 bps)
- Tata CV Revenue Rs 16.3KCr, up 107.2%, EBITDA at 5.5% (+430 bps), EBIT at 2.8% (+690 bps)
- Tata PV Revenue Rs 11.6 KCr, up 122.5%, EBITDA at 6.1% (+200 bps), EBIT at 0.9% (+750 bps)
- Segment wise:
- Commercial Vehicles:
- Q1 revenue at Rs 16.3KCr, (+107%), EBITDA 5.5% (+430 bps), EBIT 2.8% (+690 bps), PBT (bei) 0.3 K Cr.
- Q1 Tata CV global wholesales stood at 103.7K units (+100.3%).
- Q1 CV domestic wholesales at 95.9 K units (+124%), domestic retails at 90.5K units in (+119%).
- Domestic CV market share at 42.5% in Q1’FY23 (-240 bps vs FY 22); expect to improve in coming quarters.
- TML Smart City Mobility Limited incorporated for undertaking mass mobility under an own, operate and maintain mode.
- Q1 FCF negative at Rs (4.1)K Cr, primarily due to adverse working capital.
- Private Vehicles:
- Q1 revenue at Rs 11.6KCr, (+122%), EBITDA 6.1% (+200 bps), EBIT 0.9% (+750 bps), PBT (bei) breakeven.
- Q1 Tata PV global wholesales at 130.4K units (+102%).
- Q1 PV domestic wholesales at 130.1 K units (+102%), domestic retails at 124.8K units (+ 132%).
- Q1 EV volumes highest at 9.3 K units (+444%). EV penetration at 7%.
- CNG penetration increased to 11% in Q1 FY23. Tiago and Tigor CNG well received by the market.
- Domestic PV market share strengthened further by 220 bps to 14.3% in Q1 FY23.
- EV Fleet segment witnessed strong demand, signed MOU with Lithium Urban Technologies for 5,000 EVs, BluSmart Electric Mobility for 10,000 XPRES T EVs.
- Q1 FCF positive at Rs 1.2KCr. Cash profits funding investments
- Commercial Vehicles:
Shailesh Chandra, Managing Director Tata Motors Passenger Vehicles Ltd & Tata Passenger Electric Mobility Limited said: Demand for passenger vehicles continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted. Overcoming all challenges, Tata Motors consistently set new sales records every month in passenger vehicle to record the highest ever wholesales and production of ~130,000 vehicles, twice as compared to Q1FY22. Electric vehicle sales too scaled new peaks month-on-month to deliver over 440% growth in Q1 FY23 versus Q1 FY22.
During the quarter, we presented two new, future oriented, sustainable mobility concepts- ‘Curvv’ and ‘AVINYA’ that will introduce India to new vehicle typographies and experiences. While the ‘Curvv’, will be launched first as an EV and thereafter with internal combustion engine, ‘AVINYA’ is our vision of a pure electric vehicle that offers unparalleled roominess and comfort; delivers wellness with a premium experience; and comes packed with new age technology. We also launched the Nexon EV Max in Q1 FY23 and are seeing a robust demand for this extension of India’s best-selling EV. Going forward, we expect the supply side, including that of critical electronic components to progressively improve. We continue to monitor the evolving demand and supply situation and will stay nimble to take necessary actions swiftly.”