Tata Motors becomes the second company after Reliance Industries to cross the Rs 1 lakh crore revenue mark

“The year ended on a strong note with all automotive verticals delivering robust performances leading to multiple all-time high achievements. The distinct strategy employed by each business is delivering, in unison, leading to a sharp improvement in overall results. We remain confident on growth with cash flow generation, to achieve our stated goals,” said PB Balaji, Group Chief Financial Officer, Tata Motors.

The other two large companies from the group — Tata Steel and TCS — posted revenues of about Rs 60,000 crore for the three months ended March 2023. While the Q4 net revenue of Tata Steel declined 9.2 percent to Rs 62,962 crore, the group’s cash churner — Tata Consultancy Services — posted a revenue of Rs 59,162, up 16.9 percent year-on-year. However, at Rs 5,408 crore, the March quarter net profit of Tata Motors is less than half the profit posted by TCS during the same quarter.

Shares of Tata Motors — the best performer on Nifty50 between January and now, have yielded a return of almost 37 percent, against 1.7 percent gains clocked by the benchmark Nifty50 over the same period. The stock, which traded at its 52-week high, has a consensus twelve-month target price of Rs 581.63, implying an upside of 9.6 percent.