TATA MOTORS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 938.2 INR | +0.89% |
|
+1.51% | +20.16% |
| Jun. 05 | Tata Motors Gets Board Nod to Merge Auto Finance Arm with Tata Capital | MT |
| Jun. 05 | Tata Motors Gets Board Nod to Form Wholly-Owned Commercial Vehicle Business Arm | MT |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 235,235 | 1,067,374 | 1,544,487 | 1,503,057 | 3,635,068 | 3,406,697 | - | - |
| Enterprise Value (EV) 1 | 740,267 | 1,747,205 | 2,534,566 | 2,389,506 | 4,249,626 | 3,838,621 | 3,621,927 | 3,268,721 |
| P/E ratio | -2.04 x | -8.16 x | -14.5 x | 66.9 x | 12.1 x | 14.2 x | 11.7 x | 10.3 x |
| Yield | - | - | - | - | 0.3% | 0.51% | 0.56% | 0.6% |
| Capitalization / Revenue | 0.09 x | 0.43 x | 0.55 x | 0.43 x | 0.83 x | 0.72 x | 0.66 x | 0.62 x |
| EV / Revenue | 0.28 x | 0.7 x | 0.91 x | 0.69 x | 0.97 x | 0.81 x | 0.7 x | 0.6 x |
| EV / EBITDA | 2.88 x | 5.72 x | 10.2 x | 7.15 x | 7.13 x | 5.66 x | 4.78 x | 3.97 x |
| EV / FCF | -24.1 x | 19.9 x | -286 x | 13.8 x | 11.6 x | 16.4 x | 11 x | 7.98 x |
| FCF Yield | -4.15% | 5.03% | -0.35% | 7.24% | 8.59% | 6.09% | 9.05% | 12.5% |
| Price to Book | 0.39 x | 2.09 x | 3.23 x | 3.55 x | 4.48 x | 3.35 x | 2.65 x | 1.93 x |
| Nbr of stocks (in thousands) | 3,597,474 | 3,828,811 | 3,829,165 | 3,829,847 | 3,832,242 | 3,832,482 | - | - |
| Reference price 2 | 71.05 | 301.8 | 433.5 | 420.6 | 993.0 | 929.9 | 929.9 | 929.9 |
| Announcement Date | 6/15/20 | 5/18/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,610,680 | 2,497,948 | 2,784,536 | 3,459,670 | 4,379,278 | 4,721,770 | 5,157,058 | 5,481,439 |
| EBITDA 1 | 256,721 | 305,573 | 247,988 | 334,063 | 595,622 | 677,969 | 757,358 | 823,092 |
| EBIT 1 | 42,467 | 70,086 | -369.2 | 85,460 | 322,920 | 375,859 | 429,011 | 482,534 |
| Operating Margin | 1.63% | 2.81% | -0.01% | 2.47% | 7.37% | 7.96% | 8.32% | 8.8% |
| Earnings before Tax (EBT) 1 | -105,800 | -104,743 | -70,034 | 30,576 | 279,551 | 338,384 | 396,043 | 427,742 |
| Net income 1 | -120,708 | -134,514 | -114,415 | 24,143 | 313,991 | 246,935 | 299,850 | 337,923 |
| Net margin | -4.62% | -5.38% | -4.11% | 0.7% | 7.17% | 5.23% | 5.81% | 6.16% |
| EPS 2 | -34.88 | -36.99 | -29.88 | 6.290 | 81.88 | 65.63 | 79.47 | 90.37 |
| Free Cash Flow 1 | -30,691 | 87,951 | -8,856 | 172,923 | 365,017 | 233,934 | 327,936 | 409,474 |
| FCF margin | -1.18% | 3.52% | -0.32% | 5% | 8.34% | 4.95% | 6.36% | 7.47% |
| FCF Conversion (EBITDA) | - | 28.78% | - | 51.76% | 61.28% | 34.51% | 43.3% | 49.75% |
| FCF Conversion (Net income) | - | - | - | 716.25% | 116.25% | 94.73% | 109.37% | 121.17% |
| Dividend per Share 2 | - | - | - | - | 3.000 | 4.742 | 5.173 | 5.552 |
| Announcement Date | 6/15/20 | 5/18/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 722,293 | 784,391 | 719,347 | 796,114 | 884,886 | 1,059,324 | 1,022,361 | 1,051,282 | 1,105,771 | 1,199,863 | 1,114,384 | 1,118,647 | 1,170,589 | 1,219,288 |
| EBITDA | 67,642 | 87,271 | 31,805 | 61,962 | 96,430 | 125,808 | 128,759 | 136,741 | 153,333 | 169,952 | - | - | - | - |
| EBIT 1 | 6,861 | 22,950 | -26,605 | 2,989 | 35,712 | 55,306 | 62,427 | 70,377 | 84,833 | 98,446 | 94,432 | 86,899 | 104,354 | 110,618 |
| Operating Margin | 0.95% | 2.93% | -3.7% | 0.38% | 4.04% | 5.22% | 6.11% | 6.69% | 7.67% | 8.2% | 8.47% | 7.77% | 8.91% | 9.07% |
| Earnings before Tax (EBT) | -6,121 | -3,411 | -34,680 | -14,612 | 32,026 | 47,841 | 46,527 | 59,859 | 74,940 | 93,693 | - | - | - | - |
| Net income | -15,161 | -10,328 | -50,066 | -9,446 | 29,577 | 54,078 | 32,028 | 37,640 | 70,251 | 174,072 | - | - | - | - |
| Net margin | -2.1% | -1.32% | -6.96% | -1.19% | 3.34% | 5.1% | 3.13% | 3.58% | 6.35% | 14.51% | - | - | - | - |
| EPS | -3.960 | -2.700 | -13.07 | -2.470 | - | 14.10 | 8.340 | 9.800 | 18.30 | 45.36 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | 3.000 | - | - | - | - |
| Announcement Date | 1/31/22 | 5/12/22 | 7/27/22 | 11/9/22 | 1/25/23 | 5/12/23 | 7/25/23 | 11/2/23 | 2/2/24 | 5/10/24 | - | - | - | - |
1INR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 505,032 | 679,831 | 990,079 | 886,449 | 614,558 | 431,924 | 215,229 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 137,977 |
| Leverage (Debt/EBITDA) | 1.967 x | 2.225 x | 3.992 x | 2.654 x | 1.032 x | 0.6371 x | 0.2842 x | - |
| Free Cash Flow 1 | -30,691 | 87,951 | -8,856 | 172,923 | 365,017 | 233,934 | 327,936 | 409,474 |
| ROE (net income / shareholders' equity) | -7.46% | -22.7% | -22.9% | 5.37% | 48.2% | 25.8% | 24.6% | 21.9% |
| ROA (Net income/ Total Assets) | -1.46% | -4.04% | -3.4% | 0.72% | 8.89% | 6.73% | 7.99% | 7.8% |
| Assets 1 | 8,257,468 | 3,326,259 | 3,368,705 | 3,333,734 | 3,533,725 | 3,667,560 | 3,754,123 | 4,331,483 |
| Book Value Per Share 2 | 182.0 | 144.0 | 134.0 | 118.0 | 222.0 | 278.0 | 351.0 | 481.0 |
| Cash Flow per Share 2 | 77.00 | 75.70 | 43.00 | 92.40 | 177.0 | 137.0 | 169.0 | 209.0 |
| Capex 1 | 297,020 | 202,054 | 151,684 | 180,957 | 314,136 | 344,008 | 347,499 | 345,238 |
| Capex / Sales | 11.38% | 8.09% | 5.45% | 5.23% | 7.17% | 7.29% | 6.74% | 6.3% |
| Announcement Date | 6/15/20 | 5/18/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
31
Last Close Price
929.9
INR
Average target price
1,070
INR
Spread / Average Target
+15.03%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +20.06% | 40.85B | |
| +26.35% | 278B | |
| +4.65% | 71.56B | |
| +2.19% | 66.7B | |
| -9.19% | 62.56B | |
| +14.50% | 51.5B | |
| +27.00% | 52.02B | |
| -0.98% | 48.19B | |
| +29.73% | 41.72B | |
| +55.22% | 36.6B |
- Stock Market
- Equities
- TATAMOTORS Stock
- Financials Tata Motors Limited
