Tata Motors PV hopes to top INR-5-tln revenue by FY29, INR 6 tln by FY31
This story was originally published at 15:14 IST on 23 June 2026
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--Tata Motors PV expects consol revenue to cross INR 5 tln in FY29
--Tata Motors PV expects consol revenue to cross INR 6 tln in FY31
--Tata Motors PV expects consol EBIT margin to be 7% in FY29, 10% in FY31
--Tata Motors PV expects adjusted profit before tax to cross INR 300 bln FY29
--Tata Motors PV expects adjusted profit before tax to cross INR 500 bln FY31
--Tata Motors PV: See consol ops generate significant free cash flow by FY31
MUMBAI – Tata Motors Passenger Vehicles Ltd. Tuesday said it expects the group's consolidated top line to top INR 5 trillion in 2028-29 (Apr-Mar) and INR 6 trillion in FY31 from INR 3.36 trillion in FY26. The company aspires to be an integrated global auto major over the next five years through the mainstream brands centred in India, including Avinya--the company's upcoming line of premium, born-electric vehicles--and through global luxury brands housed under Jaguar Land Rover Automotive Plc, the company said in a presentation to the investors.
In its presentation, Tata Motors PV used FY25 as its base year because its UK-based subsidiary Jaguar Land Rover's operations were affected significantly by the cyber attack in late August. Jaguar Land Rover contributed roughly 81% to Tata Motors PV's top line in FY26.
The company expects its consolidated earnings before interest and tax margin to rise to 7% in FY29 and 10% in FY31. In FY26, Tata Motors PV's consolidated EBIT margin had sharply contracted to 1.1% from 7.7% in FY25. Tata Motors PV expects its profit before tax, before exceptional items, to surge to over INR 300 billion in FY29 and INR 500 billion in FY31.
The automotive major went from a net cash position of INR 10.18 billion in FY25 to a net debt position of INR 307.10 billion in FY26, primarily because of the crippling cyber incident in the UK, which caused production stoppage. Tata Motors PV expects to be net debt-free by FY29 and generate "significant" free cash flow by FY31.
For the March quarter, Tata Motors PV's consolidated net profit was INR 57.83 billion on revenues of INR 1.05 trillion. At 1457 IST, its shares traded 1.4% lower at INR 356.30 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Anand JC
Edited by Akul Nishant Akhoury
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