Tata Motors stock rises 2% on guidance of being net debt-free by 2025

Tata Motors shares have rallied nearly 10 percent in the past month.

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Shares of Tata Motors Limited traded 2 percent higher at Rs 991 apiece in morning trade on June 11 after the management gave a positive outlook for the coming quarters.

The country's largest EV player is confident of achieving financial stability by becoming net debt-free by fiscal year 2025. Additionally, the Nexon maker has set a targets of achieving a market share of over 25 percent across various segments.

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Looking ahead, Tata Motors is focused on electric vehicle (EV) development, with plans to reach EV EBITDA breakeven by fiscal year 2026. Moreover, the company aims for a consolidated 10 percent EBITDA for its passenger vehicle (PV) and EV operations by fiscal year 2030, emphasising a long-term commitment to profitability and sustainability. EBITDA is earnings before interest tax, depreciation and amortization.

On the other hand, its British subsidiary Jaguar Land Rover (JLR) May sales increased by 29 percent year-on-year, reaching 6,093 units as compared to 4,732 units sold in May last year.

In the fiscal fourth quarter, the Defender maker continued its strong financial performance. JLR's revenue for the quarter stood at 7.9 billion pounds, an 11 percent surge compared to Q4FY23 and a 6 percent rise compared to Q3FY24. Furthermore, JLR's revenues for FY24 reached 29 billion pounds, a 27 percent increase compared to the prior year.

India's largest four-wheeler electric vehicle manufacturer posted a staggering 222 percent growth in its consolidated net profit in Q4FY24 at Rs 17,407.18 crore. The company’s Profit after Tax (PAT) for the same period last year stood at Rs 5,407.79 crore.

At about 10:50 am, shares of the company were trading at Rs 990 apiece, up 1.5 percent from the last close on the NSE. Tata Motors shares have rallied nearly 10 percent in the past month.

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