Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Tata Motors — Shareholder Meeting (June 2024)
27 slides from Tata Motors Passenger Vehicles's shareholder meeting presentation, Jun 24, 2024
Slide 1: Tata Motors Group Annual General Meeting
Tata Motors Group Annual General Meeting June 24, 2024
Slide 2: Safe harbour statement
Other Details Safe harbour statement • Presentation format : The results provided represent the details on consolidated segment level. The operating segment comprise of Automotive segment and Statements in this presentation describing the objectives, projections, estimates others. and expectations o
Slide 3: FY24 – Tata Motors Business highlights
FY24 – Tata Motors Business highlights BS6 Phase 2 transition completed Unveiled state of art facilities Fleet edge digitally connects Intra V70 pickup, Intra V20 Gold successfully for development of hydrogen over 600,000 vehicles pickup and Ace HT+, Magic Bi-fuel propulsion technologies launched Po
Slide 4: FY24 – JLR Business highlights
FY24 – JLR Business highlights Consistently strong financial Reimagine transformation strategy Sustainable projects continue Ratings upgrades from S&P and performance progressing Moody’s Higher production volumes during Further strengthening of Tata JLR products continue to win awards £1.8bn of debt
Slide 5: We have also simplified the business through corporate actions
We have also simplified the business through corporate actions SIMPLIFICATION NET DEBT ZERO JOURNEY • Businesses generating strong free cash • ADR’s delisted. flows • DVR simplification – shareholder • Successful monetization of part stake in approval recd. TTL through IPO • Tata Motors Finance to b
Slide 6: Demerger of Tata Motors – a logical progression
Demerger of Tata Motors – a logical progression 1 Both CV and PV businesses have grown sizably in the past few years. 2 Limited synergies between CV and PV business. Considerable synergies to be harnessed across PV, EV and JLR in areas of EV’s, autonomous vehicles and vehicle software. 3 Demerger sh
Slide 7: Rating agencies affirm independent strong credit profiles of both businesses
Rating agencies affirm independent strong credit profiles of both businesses Rating Agencies FY23 rating Current rating Improvement S&P BB- / Stable BB+ / Watch Positive CRISIL AA- / Stable AA+ / Stable CARE AA- / Stable AA +/ Stable ICRA AA- / Positive AA / Stable Moody’s B1 /Stable Ba3 / Positive
Slide 8: FY24 Revenue ₹ 438K Cr, EBITDA ₹ 63K Cr, Auto FCF ₹ 27K Cr
Robust performance continues FY24 Revenue ₹ 438K Cr, EBITDA ₹ 63K Cr, Auto FCF ₹ 27K Cr F Y 2 4 | C o n s o l i d a t e d | IndAS, ₹ K C r Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q4 FY23 Y-o-Y FY24 FY23 Y-o-Y Global wholesales (K units) 322.2 342.5 338.4 377.1 348.9 8.1% 1,378.1 1,284.9 7.3% Revenue 102.2 1
Slide 9: Dividend ₹ 3+3 per share recommended
Dividend ₹ 3+3 per share recommended • The Board has recommended a dividend of • ₹ 3 per share for Ordinary share holders (150% of face value) and • ₹ 3.10 per share for DVR share holders • The Board has also recommended a special dividend of • ₹ 3 per share for Ordinary share holders (150% of face
Slide 10: FY24: The best-ever performance delivered
FY24: The best-ever performance delivered HIGHEST EVER HIGHEST EVER INDIA BUSINESS REVENUE EBITDA TURNS NET CASH ₹ 437.9K Cr ₹ 62.8K Cr ₹ 1.0K Cr HIGHEST EVER PBT HIGHEST EVER FCF HIGHEST EVER (bei) (auto) DIVIDEND^ ₹ 28.9K Cr ₹ 26.9K Cr ₹ 2,310 Cr payout * Represents data on consolidated basis unle
Slide 11: Consolidated trends
Consolidated trends Revenue (₹ K Cr) EBITDA (₹ K Cr) EBIT % PBT (bei) (₹ K Cr) 62.8 15.0% 438 60.0 11.7% 13.0% 10.9% 28.9 346 50.0 8.1% 11.0% 21.9 8.3% 19.8 291 302 40.0 9.0% 14.4 16.6 263 273 270 261 250 278 11.5 233 3.7% 0.0% 0.7% 7.0% 10.3 189 30.0 5.0% 14.4 -1.5 2.9 1.8 166 9.7 -1.8 93 122 20.0
Slide 12: Jaguar Land Rover Automotive plc
JAGUAR LAND ROVER AUTOMOTIVE PLC 12
Slide 13: FY24 Revenue £29b, EBIT 8.5%, PBT(bei) £2.2b. Significantly improved v FY23
FY24 Revenue £29b, EBIT 8.5%, PBT(bei) £2.2b. Significantly improved v FY23 F Y 2 4 | J a g u a r L a n d R o v e r | I F RS , £ m Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q4 FY23 Y-o-Y FY24 FY23 Y-o-Y Wholesale (K units) 93.3 96.8 101.0 110.2 94.6 16.4% 401.3 321.4 24.9% Revenue (£m) 6,903 6,857 7,375 7,860
Slide 14: FY24 volumes up 25% y-o-y, with the highest ever full year Defender volumes
FY24 volumes up 25% y-o-y, with the highest ever full year Defender volumes FY24 | Wholesales | Brands | Units in 000’s TOTAL 401.3 201.1 321.4 158.4 114.6 86.5 42.7 49.6 33.8 36.0 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 *Wholesale volumes exclude sales from unconsolidated Chinese joint ve
Slide 15: Model developments – coming soon
Model developments – coming soon RANGE ROVER SPORT - RANGE ROVER ELECTRIC DEFENDER- OCTA STEALTH 15
Slide 16: Reimagine will deliver
REIMAGINE WILL DELIVER FY25 FY26 Long-term vision REVENUE £30b > c. £38b EBIT MARGIN ≥8.5% 10% c. 15% INVESTMENT £3.5b > c. £4.0b FREE CASHFLOW c. £1.8b = c. £3.0b Strong balance NET CASH POSITIVE Net cash positive = sheet ROCE FOCUS INTRODUCED Investment discipline Maximise profit FY24 ROCE > 21.3%
Slide 17: Tata Commercial Vehicles
Tata Commercial Vehicles (Includes Tata CV India, Tata Cummins JO results and Tata CV International) 17
Slide 18: Pivot to demand pull strategy delivering results; highest ever Revenues and PBT (bei)
Pivot to demand pull strategy delivering results; Business clocks the highest ever Revenues and PBT (bei) in FY24 F Y 2 4 | T a t a C o m m e r c i a l V e h i c l e s | IndAS, ₹ K C r Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q4 FY23 Y-o-Y FY24 FY23 Y-o-Y Global wholesales ( K units) 88.6 106.8 98.8 111.3 11
Slide 19: Products & technology demonstrators
Products & technology demonstrators Alternate Fuelled Zero Emission (BEVs & H2 Powered) ACE EV Ace Gold CNG Intra Bi-Fuel SCV 407g SFC CNG LCV Country’s First LNG Truck Ultra 9m & Starbus 12m (AC/Non- LPT 1009g – CNG ILCV Starbus LP913/52 CNG (AC) AC) EV Bus Prima 49 T (2014 Auto Expo) Prima E.28K E
Slide 20: In Summary
In Summary WIN DECISIVELY IN CV However, we remain hungry… • HCV and ILMCV trucks continue to win on a • Need to win back SCV shares strong base • Accelerate growth further leveraging the • Pivot to demand pull results in double digit government’s infra investments backed by EBITDA and strong FCF. i
Slide 21: Tata Passenger Vehicles
Tata Passenger Vehicles (Includes Tata PV, EV India, FIAPL JO results and International business(PV+EV)) 21
Slide 22: Our growth has been driven by the success of our products
Our growth has been driven by the success of our products We have been able to win Top 2 ranks in nearly all addressable segments Sub Compact SUV Compact SUV High SUV PUNCH NEXON HARRIER & SAFARI Rank #1 Rank #1 Rank #2 (40% MS) (28% MS) (26% MS) Mid Hatch Premium Hatch Entry Sedan TIAGO ALTROZ TIGO
Slide 23: Consistently delivering volumes growth, positive EBIT margins and PBT
Consistently delivering volumes growth, positive EBIT margins and PBT F Y 2 4 | T a t a P a s s e n g e r V e h i c l e s | IndAS, ₹ K C r Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q4 FY23 Y-o-Y FY24 FY23 Y-o-Y Global wholesales ( K units) 140.4 139.0 138.6 155.6 135.5 14.8% 573.5 541.0 6.0% Revenue 12.8 12.2
Slide 24: Future market share growth through expanding EV portfolio and new nameplates
Future market share growth through expanding EV portfolio and leveraging new nameplates New aspirational nameplates to grow EV market We will increase our addressable market to 80% of TIV with new nameplates FY25 Launches of Curvv & Sierra will help Curvv.ev Harrier.ev capture Mid SUV segment Additi
Slide 25: In Summary
In Summary WIN SUSTAINABLY IN PV WIN PROACTIVELY IN EV • Podium finish in PV secured • #1 EV player with 73% market share • Third consecutive year of highest ever • Completed milestone of 150k EV sales volumes • Product portfolio continues to expand • Business delivers double digit EBITDA margins •
Slide 26: Market beating growth with strong free cash flows
Business aims to deliver Market beating growth with strong free cash flows Area CV PV EV Volume growth well ahead of market Gradually increasing shares; Continued leadership Market Shares / Growth 16% market share by FY27 Market beating revenue growth Penetration of EV – 30%+ by FY30 18-20% in anoth
Slide 27: Thank you
TATA MOTORS Thank you