Tag Tata Group

Voltas Ltd
Voltas Ltd: Market Leadership, Growth Strategies & Bearish Short-Term Stock Outlook in 2025

Business and Industry Overview:  

Voltas Ltd is a big Indian company that makes and sells home appliances like air conditioners, refrigerators, washing machines, dishwashers, air coolers, microwaves, air purifiers, and water dispensers. It is India’s largest air conditioning company and was started on 6 September 1954 as a partnership between Tata Sons and Volkart Brothers. The company is based in Mumbai and is led by Noel Tata as the chairman and Pradeep Bakshi as the CEO and Managing Director. Voltas has two main businesses. The Projects Business works on big projects like cooling systems for shopping malls, offices, airports, and hotels. The Products Business makes and sells air conditioners, refrigerators, washing machines, air coolers, and water dispensers. It also sells mining and textile machinery. Voltas was the first company in India to make air conditioners. It introduced DC Inverter Technology, which helps air conditioners save electricity. Voltas has completed many big projects around the world, including air conditioning for Burj Khalifa in Dubai, Ferrari World in Abu Dhabi, RMS Queen Mary 2, the Palace of the Sultanate of Oman, Bahrain City Centre Mall, Sidra Medical and Research Centre in Qatar, and the Mall of Emirates in Dubai. In 2017, Voltas joined with Arçelik, a Turkish company, to start Voltas Beko. This joint venture makes refrigerators, washing machines, dishwashers, and other kitchen appliances for the Indian market. Voltas also works with Elgi Equipments to make compressors. The company sells its products in India and also in the Middle East, Southeast Asia, and Africa. Voltas is listed on the NSE and BSE under the symbol VOLTAS and competes with brands like Blue Star, Daikin, LG, and Samsung. The company is well known for its cooling solutions, energy-saving products, and strong service network. It is one of the most trusted brands in India and has a strong presence in the global market. 

India’s consumer electronics industry is growing fast. More people are buying modern appliances because incomes are rising, cities are growing, and technology is improving. The air conditioner market in India will reach ₹50,000 crore (US$ 5.6 billion) by 2029. This is because of hot weather, better living conditions, and affordable prices. The smartphone market is also expanding. It is expected to reach US$ 90 billion by 2032 as people buy better phones. The wireless headset market is growing too. It will reach US$ 77 million by 2027, with a yearly growth rate of 4.7%. India’s wearable market is also increasing. In 2023, companies sold 134 million wearable devices, which is 34% more than in 2022. Electronics exports are rising. From April to December in FY25, exports reached ₹2,25,869 crore (US$ 26.1 billion). The government wants the electronics industry to be worth US$ 300 billion by FY26. It also aims to export US$ 120 billion worth of electronic products. The Indian government is supporting this growth. It allows 100% Foreign Direct Investment (FDI) in electronics manufacturing. The Production Linked Incentive (PLI) scheme helps companies that make air conditioners and LED lights. This scheme has attracted US$ 814 million (₹6,766 crore) in investments. Global brands like Samsung are building more factories in India. They are also using smart technology in production. Investments in electronics are increasing. From April 2000 to September 2024, foreign investors put ₹39,416 crore (US$ 5.67 billion) into electronic manufacturing. The electronics industry now contributes 0.6% to India’s GDP. It is growing at 11% per year and will reach ₹3 lakh crore (US$ 34.5 billion) by 2029. 

Voltas is a well-known brand in India, especially for air conditioners. It is part of the Tata Group, which is trusted by many. Voltas makes affordable and good-quality air conditioners, air coolers, and other appliances. It offers products at different prices, so people from all income groups can buy them. Voltas’ air conditioners are known for being energy-efficient. They use technology like DC Inverter, which helps save electricity while keeping the room cool. This is one of the reasons why many people choose Voltas. The company also focuses on customer service. It has many service centers and dealers across India, making it easy for customers to get repairs or maintenance for their products. Voltas is also successful in the commercial sector. It provides cooling systems for big places like airports, malls, and metro stations. This shows the company can handle large projects and is trusted by businesses. Voltas competes with brands like LG, Samsung, Daikin, and Blue Star. While these brands offer similar products, Voltas stands out by being more affordable and offering better customer service. It also has the advantage of being part of the Tata Group, which adds trust to the brand. However, it still faces strong competition from global brands like Daikin and Mitsubishi, which offer premium products. To stay competitive, Voltas keeps adding new features and expanding its product range. For example, Voltas has teamed up with Beko to sell home appliances like refrigerators, washing machines, and dishwashers in India. 

In short, Voltas stays competitive by offering reliable, affordable, and energy-saving products. It focuses on good customer service and uses its strong connection with the Tata Group to maintain its position in the market. 

Latest Stock News: 

On March 21, 2025, Voltas’ stock dropped by 2.5%. This happened because Prabhudas Lilladher, a company that tracks stocks, changed its advice on Voltas from “buy” to “accumulate.” However, they still think the stock can go up and set a target price of Rs 1,593, which is 11% higher than the current price. Earlier, on March 17, 2025, Voltas’ stock went up by 3.17%. This was better than the market, which only went up by 1.25%. The stock reached Rs 1,445 during the day, showing good performance. Voltas’ stock is above its 5-day and 20-day averages, but below its 50-day, 100-day, and 200-day averages. This means the stock has had some ups and downs in the short and long term. 

In the last quarter, Voltas made a profit of Rs 132 crore. This is much better than last year, when it had a loss of Rs 30 crore. Voltas’ revenue also grew by 18% to Rs 3,105 crore. But, even with these good results, the stock dropped by 12.21% on the day the results came out. It ended the day at Rs 1,296 on the Bombay Stock Exchange. In the future, Voltas is expected to do well because people will likely buy more air conditioners in the summer. While the company might face some challenges with profits, it is working on expanding and cutting costs to keep growing. 

Potentials: 

Voltas is focused on growing its air conditioner business. They believe that as summers become hotter, more people will need air conditioners. They are expanding in India and other countries to meet this demand. Voltas wants to make products more efficiently. To do this, they are improving their factories and processes. This will help them lower costs and make more products. The company aims to be the top brand in air conditioning. They are also working to use better technology. This will make their products more energy-efficient and eco-friendly. Voltas plans to become a stronger brand worldwide. They are investing in new products and markets to grow even more.  

Analyst Insights: 

  • Market capitalisation: ₹ 44,504 Cr. 
  • Current Price: ₹ 1,345 
  • 52-Week High/Low: ₹ 1,946 / 1,135 
  • P/E Ratio: 62.8 
  • Dividend Yield: 0.41%
  • Return on Capital Employed (ROCE): 8.51% 
  • Return on Equity (ROE): 4.40% 

Voltas Ltd. is a big name in air conditioning and refrigeration. It has a strong position in the market. It holds 21.2% of the room AC market and 36% of the window AC market. The company has a wide reach with over 30,000 touchpoints across India. It also has 330+ exclusive brand outlets and 5 experience zones. In a short time, Voltas sold 1 million units in 88 days. This shows strong customer demand. However, there are some concerns. The stock is expensive. The price-to-earnings (P/E) ratio is 62.8. This means the stock price is high compared to its earnings. The company’s return on equity (ROE) is low at 4.4%. This means it is not earning a lot of profit from its investments. The operating margin (OPM) is not stable, averaging around 5%. This could worry investors looking for stable returns. Voltas has been paying a good dividend of 70.8%, which is attractive to investors. But the stock is trading at 7.09 times its book value. This suggests that the stock might be overpriced. On the positive side, the company has improved its working capital. It reduced the number of days from 46.8 to 32.4. This means the company is managing its resources better. In conclusion, Voltas is a strong company in the market. But its stock is expensive. The profit growth has been inconsistent. The low ROE is also a concern. It is better to hold the stock for now and monitor its performance before deciding to buy or sell. 

Tata Elxsi Ltd
Tata Elxsi Faces Continued Decline Amid Market Volatility– A Closer Look at Underperformance and Future Prospects

Business and Industry Overview: 

Tata Elxsi is a company that helps businesses improve their products using modern technology and design. It works in industries like automobiles, healthcare, media, and communication. It helps companies create smarter, more advanced, and user-friendly products. The company is part of the Tata Group, which is a trusted name in India and around the world. It has been growing steadily and is known for its high-quality technology and design solutions. The company uses modern technologies like Artificial Intelligence (AI), the Internet of Things (IoT), cloud computing, and virtual reality. It focuses on making products simple, smart, and future-ready. It helps businesses upgrade old systems and bring them into the digital world. The company works with automobile companies, hospitals, media companies, and telecom providers to improve their technology and customer experience. Tata Elxsi believes in providing opportunities for people to learn, grow, and explore new ideas. It encourages innovation and creativity. It supports employees in developing new skills and building the future of technology. The company is a leader in software, design, and digital transformation. It helps industries keep up with new technology trends and create better products. It improves customer experience by making products smarter and more efficient. The company focuses on AI, IoT, and 5G to create better, faster, and more connected solutions. It is helping shape the future of many industries by developing advanced and user-friendly technology. 

India’s technology industry is growing very fast. Many big companies like TCS, Wipro, and Infosys are hiring more people. These companies plan to hire about 1.05 lakh workers because they need more skilled workers. The IT services market in India will be worth $20 billion by 2025. IT spending is also increasing. It is expected to grow by 11.1% in 2024, which means $138.6 billion will be spent on IT. The Indian government is helping the industry. In the 2024-25 budget, the government has allocated ₹1,16,342 crore ($13.98 billion) for IT and telecom. The government is focusing on areas like cybersecurity, AI, blockchain, and hyper-scale computing. These are all very important for the future. India also has very cheap data costs, which makes the internet affordable for more people. Indian IT companies are not just in India. They have offices all around the world. They work with many industries like banking, telecom, and retail. These companies offer technology solutions to improve businesses. They also work with companies from other countries to offer services globally. India’s technology industry has a big advantage. The country plans to double its tech revenue to $500 billion by 2030. India is also improving its digital skills. This helps the country stay competitive in the world. The industry is creating many jobs and making technology better for everyone. To sum up, India’s technology industry is growing fast. The government is supporting it, and companies are working all around the world. This will bring more jobs, growth, and new technology in the future. 

Tata Elxsi is a top company that mixes creative design with advanced technology to help businesses in many industries. In automobiles, it works on self-driving cars, electric vehicles, and smart car features. The company helps car makers create safety systems and infotainment systems that make driving easier and safer. 

In healthcare, Tata Elxsi makes smart medical devices and robotic tools that help doctors do surgeries more precisely. It also works on telemedicine, allowing doctors to treat patients remotely. Tata Elxsi also uses artificial intelligence (AI) to help doctors detect diseases early and improve patient care. 

For media and broadcast, Tata Elxsi provides video streaming solutions to companies like Netflix and Hotstar. This ensures that users can watch videos smoothly without interruptions. The company helps improve video quality and build better systems to deliver content faster. 

Tata Elxsi is special because it combines creativity and technology to solve real-world problems. The company works all over the world with big brands. It is part of the Tata Group, a trusted name, which makes the company more reliable. Tata Elxsi is also keeping up with the latest technologies like AI, Internet of Things (IoT), Cloud, and Virtual Reality. This makes it a leader in providing innovative solutions and keeps it ahead of other companies in the market. 

Latest Stock News: 

As of March 31, 2025, Tata Elxsi’s stock is trading at ₹5,578.45 per share. Recently, the company released its earnings report for the quarter ending December 31, 2024. The company reported a net profit of ₹199 crore, but this was a 13.3% decrease compared to the previous quarter. The revenue for this quarter was ₹939.2 crore, which was a 1.7% decrease from the last quarter. Because of this report, Tata Elxsi’s stock price dropped significantly by 7.89%, falling to ₹5,935.05 during intraday trading. Despite this recent drop, Tata Elxsi’s stock has also experienced moments of strong performance. For example, in August 2024, the stock price surged by 16.26% over two days, reaching an intraday high of ₹8,970.35. This shows that while the stock has had some setbacks, it has also had times of strong growth. Investors who bought the stock during the growth periods likely saw good returns. 

In recent months, Tata Elxsi’s stock price has fluctuated between ₹5,174 and ₹7,235. This movement can be seen as an opportunity for investors to buy the stock at a lower price. Right now, the stock is trading at ₹5,215, and the question investors may ask is whether this price is a fair reflection of the company’s true value or if the stock is undervalued, offering a potential buying opportunity. 

Furthermore, the stock has a low beta, which means that its price does not move as drastically as some other stocks. This stability could mean that, while the stock may not drop quickly, it also might not see a quick rise in price. If investors expect the price to eventually fall more in line with industry peers, the low beta suggests that this could take some time. 

Potentials: 

Tata Elxsi has big plans for the future. They are partnering with Qualcomm, a major tech company. Together, they want to make cars smarter. They will use new technology to improve safety and assist drivers. The company is also focusing on Software-Defined Vehicles (SDVs). SDVs are cars that use software to control things like speed and safety, instead of mechanical parts. Tata Elxsi wants to help car makers build better and safer cars using this technology. Tata Elxsi is investing in research and development. They have started a project with a global car company to create green vehicles. This project will focus on making cars more eco-friendly. Tata Elxsi also plans to hire 200 more workers for this project. These workers will work on green technologies to help the environment. The company is exploring new technologies like Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT). These technologies will help Tata Elxsi improve efficiency in many areas. Experts believe Tata Elxsi will grow quickly in the coming years. The company’s earnings and sales are expected to rise. Tata Elxsi is also expected to become more profitable. This shows that the company is ready for long-term success. They are working on new ideas, technology, and partnerships to achieve this. 

Analyst Insights: 

Market capitalisation: ₹ 32,479 Cr. 

Current Price: ₹ 5,215 

52-Week High/Low: ₹ 9,083 / 5,158 

Stock P/E: 40.1 

Dividend Yield: 1.34 % 

Return on Capital Employed (ROCE): 42.7 %% 

Return on Equity: 34.5 % 

Tata Elxsi has been growing well in recent years. Over the last 5 years, its sales have grown by 17% every year, and in the last 3 years, they grew by 25%. This shows that the company is getting bigger and stronger. One of the good things about Tata Elxsi is that it has very little debt. This means it does not rely much on loans, which is safer for the company. Also, the company earns well. It has a high return on equity (ROE) of 34.5%, which means it is good at making profits with its investors’ money. The return on capital employed (ROCE) is 42.7%, showing that the company uses its capital well to generate profits. Tata Elxsi also makes a good profit. Its operating profit margin is 30%, which means it keeps ₹30 for every ₹100 in sales. This shows that the company runs its business efficiently. The company’s earnings per share (EPS) have grown. In December 2022, it was ₹24.24, and in December 2024, it increased to ₹36.84. This is a good sign as it means the company is making more money over time. Tata Elxsi is also focusing on new technology. It is working on Software-Defined Vehicles (SDV) and Advanced Driver Assistance Systems (ADAS). These technologies are expected to grow a lot in the future, and Tata Elxsi is ready to take advantage of this. The company is also investing in green mobility and has set up an innovation hub to explore new ideas. Even though the stock price has been a bit volatile, the company’s profit growth rate is strong at 22.4% each year over the last 5 years. The company’s stock is also priced at 13.1 times its book value, which means it is still an attractive option for growth in the tech industry. In summary, Tata Elxsi is a strong company with good profits, little debt, and a focus on future technologies. These qualities make it a good investment for long-term growth. 

Tata Investment Corporation ltd
Tata Investment Corporation Q3 Results: Net Income Falls to ₹196.1 Million, Profit Declined

Business and Industry Overview: 

The Tata Investment Corporation Limited (TICL) is a non-banking financial company (NBFC) which is mainly engaged in long-term investments in various industries. East known as India’s Investment Corporation, the company invests in equity shares, loan equipment and equity-related securities, both listed and unlisted. The TICL was promoted by Tata Sons Private. Limited in 1937 and a closely held unit until 1959 remained one of the publicly listed investment companies on the Bombay Stock Exchange. Initially focused on supporting new enterprises, the TICL gradually turned into an investment company with a diverse portfolio. For decades, it has played an important role in the development of many famous Indian companies including SKF Bairing (India) Limited, Ceat Ltd., and National Ryan Corporation. The TICL is currently a subsidiary of Tata Sons, with other TATA companies, 73.38% of its paid capital. The company’s leadership of Noel Tata and F.N. As Vice Chairman is supported by a team of subdaras, financial and investment experts. Non-Banking Financial Companies (NBFCs) have seen significant growth in India’s financial ecosystem, which play an important role in credit expansion and financial inclusion. Their market share in credit distribution increased from 12% in 2008 to 18% in 2019, before 2022 increased competition from banks to 16%. And TICL is one of the famous NBFCs, which has played an important, important role in financing new businesses. 

Latest Stock News: 

The Tata Investment Corporation Limited (TICL) recorded a sharp decline in financial performance for the Q3 FY25, with the revenue fell from ₹ 43.76 million to ₹ 31.68 million a year ago. Per share (EPS) per share from ₹ 10.52 to ₹ 3.88 per share. For nine months, the revenue decreased from ₹ 3,284.9 million to ₹ 2,896.1 million, while net income fell from ₹ 2,743.7 million to ₹ 3,244.9 million, decreased from ₹ 64.13 to ₹ 54.23 with EPS to ₹ 64.13 to ₹ 54.23 with EPS. , Which indicates recession in earnings and revenue. 

Segmental information: 

Equity Investment: TICL mainly invests in a diverse portfolio of equity shares and securities of companies listed and unlisted in various industries including TATA group companies.  

Loans and definite-income investment: The company also invests in loan equipment, including bonds and other certain-oriented securities, providing a stable stream of interest income.  

Dividend and interest income: A important part of TICL’s revenue comes from dividends and interest earned on its investment, ensuring stable returns over time.  

Asset Management: TICL is a co-consent of Tata Asset Management Private Limited, who manages mutual funds and investment portfolio for institutional and retail investors. 

Subsidiary Investments: 

  1. Simto Investment Company Limited (Assistant) – TICL increased its investment portfolio by Simto Investment Company Ltd. It has a majority stake in. 
  1. Tata Asset Management Private Limited (Associate Company)-TICL is a co-commotor of Tata Asset Management, which manages Tata Mutual Fund and provides investment management services.  
  1. Tata Trustee Company Private Limited (Associate Company) – This unit oversees the Tata Mutual Fund schemes, which ensure governance and compliance in property management.  
  1. AMALGAMATED Plantation Private Limited (Associate Company) – TICL has an investment in tea plantation company, the largest in India, which supports its diverse portfolio. 

Q3 Highlights: 

  • Revenue is recorded as ₹38 million, down from ₹516.2 million in Q3 FY24. 
  • Net income is reported as ₹196.1 million, down from ₹532.4 million a year ago. 
  • EPS is ₹3.88, compared to ₹10.52 in the previous year. 

Financial Summary: 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 31.68 43.76 277 325 
Expenses 6.29 9 32 33 
EBITDA 25.39 34.76 245.00 292.00 
OPM 87% -19% 88% 91% 
Other Income 17 26 36 65 
Net Profit 24.08 34.33 252 284 
NPM 76.01 78.45 90.97 87.27 
EPS 10.52 3.88 49.78 76.09 
Tata Motors Q3 Results
Tata Motors Q3 Results: Profit Declines 23% to ₹5,451 Crore and Highest EBIT Margin

Tata Motors Ltd: Overview 

Tata Motors Ltd. is one of India’s largest automobile manufacturers, engaged in the design, manufacturing, and sales of a diverse range of vehicles, including passenger cars, commercial vehicles, electric vehicles (EVs), and luxury vehicles. A subsidiary of Tata Group, the company operates in both domestic and international markets, with a strong presence in the UK, South Korea, Thailand, South Africa, and other global regions. The Indian automotive industry, in which Tata Motors plays a crucial role, is witnessing rapid transformation with increasing demand for electric vehicles (EVs), connected car technologies, and sustainable mobility solutions. With government initiatives such as FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles), the push towards EV adoption is accelerating. Tata Motors has positioned itself at the forefront of this transition, leveraging its advanced research & development capabilities and extensive manufacturing infrastructure. 

Latest Stock News 

In Q3 FY25, Tata Motors reported a revenue of ₹113.6K crore with an EBITDA margin of 13.7% and a profit before tax (PBT) before exceptional items of ₹7.7K crore. Despite challenging market conditions, the company remains on track for a strong full-year performance, with a year-to-date (YTD) PBT of ₹22.3K crore. Net auto debt stood at ₹19.2K crore, with the deleveraging plan progressing well, leading to a significant reduction in net auto finance costs. The TML Group received a sanction letter from the Ministry of Heavy Industries (MHI) on December 31, 2024, approving the entire FY24 claim of ₹142 crore, which has now been received. For FY25, the Group assessed its product eligibility under the scheme and accrued an income of ₹209 crore, with the required Techno-Commercial Audit (TCA) completed. 

In the luxury segment, Jaguar Land Rover (JLR) saw an improved sales mix, with Range Rover, Range Rover Sport, and Defender accounting for 70% of total wholesales. Market share improved across all segments except for Small Commercial Vehicles (SCVs), where efforts are underway to enhance competitiveness. The overall industry volume remained flat in Q3 FY25, marking a recovery from the 11% YoY decline seen in Q2. During the quarter, the Passenger Carrier segment grew by 11%, SCVPU by 3%, while ILMCV remained stable, and HCV declined by 9%. Electric mobility continued to gain traction, with over 200 EV buses registered in Q3 FY25, bringing the total number of EV buses registered to over 3,500. Tata Motors’ Fleet Edge platform now has over 760,000 active vehicles, with strong user engagement—81% monthly active users and 61% weekly active users—demonstrating its growing influence in fleet management and digital solutions. 

Business Segments

  • Passenger Vehicles (PV): This segment includes hatchbacks, sedans, SUVs, and electric vehicles under the Tata brand. Key models: Tata Safari, Harrier, Nexon, Tiago, and electric models like Nexon EV, Tigor EV, and Tiago EV. The company has seen strong demand for EVs, making it a market leader in the Indian EV space. 
  • Commercial Vehicles (CV): Tata Motors is a market leader in the commercial vehicle segment, including trucks, buses, and small commercial vehicles (SCVs). The company offers a range of products, from light-duty to heavy-duty trucks, along with electric and alternative fuel-based commercial vehicles. Recent launches include electric buses and CNG-powered trucks to support sustainability. 
  • Jaguar Land Rover (JLR): A wholly owned subsidiary, JLR is a premium automotive brand with iconic models like the Range Rover, Defender, and Jaguar F-PACE. JLR contributes significantly to Tata Motors’ revenue, with strong demand from Europe, the US, and China. The company is focusing on electrification, with upcoming EV models and hybrid variants. 

Subsidiary Information

  • Jaguar Land Rover (JLR): It is a prestigious UK-based luxury automobile manufacturer and a wholly owned subsidiary of Tata Motors. It plays a crucial role in the company’s global presence, significantly contributing to its overall revenue. With a strong brand reputation, advanced engineering, and a diverse portfolio of premium vehicles, JLR remains one of Tata Motors’ most valuable assets. 
  • Tata Passenger Electric Mobility Ltd: It is a dedicated subsidiary focused on the research, development, and manufacturing of electric vehicles. As the Indian EV market continues to expand, this subsidiary has positioned Tata Motors as a leader in the country’s electric mobility space. Through innovation and a growing portfolio of electric vehicles, it plays a vital role in the company’s sustainability and future growth strategy. 
  • Tata Technologies Ltd: It is a prominent provider of engineering and design services, specializing in automotive product development, digital transformation, and manufacturing solutions. It supports Tata Motors and other global clients in optimizing vehicle design, enhancing efficiency, and integrating cutting-edge technologies into the automotive sector. 
  • TML Holdings Pte Ltd: Headquarter is in Singapore, serves as the international investment arm of Tata Motors. It oversees and manages the company’s overseas subsidiaries and investments, including operations in Thailand, South Korea, and other global markets. This entity plays a critical role in Tata Motors’ international expansion and strategic growth initiatives. 
  • Tata Marcopolo Motors Ltd: It is a joint venture between Tata Motors and the Brazilian bus manufacturer Marcopolo S.A. The company specializes in producing high-quality buses, catering primarily to mass public transportation needs. By leveraging Tata Motors’ automotive expertise and Marcopolo’s bus manufacturing know-how, the venture has become a key player in the commercial vehicle sector, supplying buses to both domestic and international markets.  

Q3 FY25 Earnings 

  • Revenue of ₹113575 crore in Q3 FY25 down by 3.012.71% YoY from ₹110577 crore in Q3 FY24.  
  • EBITDA of ₹13043 crore in this quarter at a margin of 11% compared to 14% in Q3 FY24. 
  • Profit of ₹5578 crore in this quarter compared to a ₹7145 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 110577 113575 345967 437928 
Expenses 95159 100532 314151 378389 
EBITDA 15418 13043 31816 59538 
OPM 14% 11% 9% 14% 
Other Income 1604 1764 6664 5673 
Net Profit 7145 5578 2690 31807 
NPM 6.5% 4.9% 0.8% 7.3% 
EPS 21.1 14.8 7.3 94.5 
Tata Steel Q3 Results
Tata Steel Q3 Results: Surprise Profit of ₹327 Crore, Beating Market Estimates

Tata Steel Ltd: Overview 

Tata Steel Ltd, a flagship company of the Tata Group, is one of the world’s largest steel manufacturers with a global presence spanning over 50 countries. Established in 1907, Tata Steel is a pioneer in the Indian steel industry, with its operations encompassing mining, steel production, and distribution. Tata Steel is one of the most diversified integrated steel producers in the world, with an annual crude steel production capacity of 35 MTPA. The Company’s manufacturing assets are spread across India, the Netherlands, the UK, and Thailand. The company’s products serve diverse industries, including construction, automotive, infrastructure, engineering, and consumer goods. 

Tata Steel has been a key player in driving India’s industrial growth and is renowned for its commitment to sustainability, innovation, and operational excellence. The global steel industry is poised for growth, supported by infrastructure development, rising urbanization, and demand for advanced automotive materials. With a production capacity of over 34 million tonnes per annum (MTPA) globally (as of FY25), Tata Steel has an integrated value chain that includes raw material mining, steelmaking, and value-added products. The global steel industry is driven by infrastructure development, urbanization, and demand from the automotive and construction sectors. Tata Steel, with its diversified product portfolio and strong brand equity, is well-positioned to capitalize on these opportunities. The company is also focusing on decarbonization and aims to achieve carbon neutrality by 2045, aligning with global sustainability trends. 

Latest Stock News 

India’s largest blast furnace at Kalinganagar is making great strides, with production steadily ramping up. In December 2024, the plant successfully produced its first annealed coil from the 2.2 MTPA Cold Roll Mill. That same month, the Coke Oven Battery #3A was commissioned, marking another milestone in the 5 MTPA capacity expansions at Kalinganagar. This expansion is set to boost production of high-strength hot-rolled steel, catering to key sectors such as Oil & Gas, Lift & Escalator, and Engineering. Deliveries were higher by 2% and include volumes to UK operations. Excluding transfers to UK, External deliveries were up 7% on QoQ basis. 

Tata Steel’s India operations continue to perform strongly, reporting an impressive EBITDA margin of about 24%, with Indian volumes contributing nearly 70% of total deliveries. The company also invested ₹3,868 crores in capital expenditure during the quarter to further its growth plans. Raw material cost decreased upon cessation of liquid steel production partly offset by higher purchases. Globally, steel prices remained under pressure between October and December 2024. In the U.S., prices dipped by 2%, while in the EU, they fell by around 5%. Meanwhile, raw material prices showed mixed trends—coking coal prices dropped by 7%, settling below $200 per ton, while iron ore prices remained steady, fluctuating between $100 and $110 per ton. 

Business Segments

  • Steel Manufacturing: Tata Steel operates an extensive network of steel plants in India and internationally, producing flat and long steel products. Its advanced manufacturing facilities in Jamshedpur, Kalinganagar, and Angul are benchmarks in productivity and efficiency. The company’s Indian operations contribute significantly to its overall production and profitability. 
  • Mining and Raw Materials: To ensure a stable supply of critical raw materials, Tata Steel has backward integrated operations with captive mines for coal, iron ore, and chrome. These mines are strategically located to support the company’s steel plants, reducing dependency on external suppliers and enhancing cost competitiveness. 
  • International Operations: Tata Steel has a strong international footprint, with operations in Europe (Tata Steel Europe), Southeast Asia, and the Middle East. Tata Steel Europe focuses on high-value products for automotive and construction industries, while the Southeast Asian operations are focused on cost-effective steelmaking for regional markets. 
  • Others: This includes a variety of niche products and solutions, such as automotive maintenance products, waterproofing services, and wood finishes. The company also operates in the animal health and crop care segment through specialty chemicals. 

Subsidiary Information

  • Tata Steel Long Products Ltd: Tata Steel Long Products (TSLP) is a critical subsidiary of Tata Steel, focusing on the production of long steel products that cater primarily to the automotive and construction sectors. These products are essential for infrastructure development and automobile manufacturing, making TSLP a significant contributor to Tata Steel’s portfolio of value-added offerings. With its robust capabilities, TSLP plays an instrumental role in strengthening Tata Steel’s position in the long steel segment, ensuring high-quality solutions for its customers. 
  • Tata Steel Mining Ltd: Tata Steel Mining Ltd. oversees the company’s mining operations, ensuring a steady and reliable supply of key raw materials such as iron ore and ferroalloys for steel production. This vertical integration strategy allows Tata Steel to maintain cost efficiency and reduce dependency on external suppliers. The subsidiary’s operations are vital for supporting the company’s production processes, aligning with Tata Steel’s commitment to operational excellence and raw material security. 
  • Tata Metaliks Ltd: Tata Metaliks specializes in the production of pig iron and ductile iron pipes, catering to the burgeoning needs of India’s water infrastructure and construction sectors. The subsidiary’s products play a crucial role in facilitating the development of water supply systems, urban infrastructure, and housing projects across the country. Tata Metaliks contributes significantly to Tata Steel’s diversified product portfolio, ensuring the company’s presence in niche yet essential market segments. 
  • Tinplate Company of India Ltd: The Tinplate Company of India Ltd. is a leading manufacturer of tin-coated and tin-free steel products, serving the packaging industry. This subsidiary provides high-quality tinplate solutions that are widely used in packaging applications, including food and beverage containers. With a strong focus on quality and innovation, the subsidiary enhances Tata Steel’s value chain and strengthens its presence in the growing packaging sector. 
  • Tata Steel BSL Ltd: Acquired in 2018, Tata Steel BSL Ltd. significantly enhances Tata Steel’s capacity in the flat steel segment, catering to diverse industries such as automotive, consumer durables, and general engineering. This acquisition has enabled Tata Steel to expand its product offerings, address a wider range of customer requirements, and strengthen its market presence. The subsidiary plays a crucial role in supporting Tata Steel’s growth ambitions and delivering high-quality solutions to its customers.  

Q3 FY25 Earnings 

  • Revenue of ₹53648 crore in Q3 FY25 down by 3.01% YoY from ₹55312 crore in Q3 FY24.  
  • EBITDA of ₹2903 crore in this quarter at a margin of 11% compared to 11% in Q3 FY24. 
  • Profit of ₹295 crore in this quarter compared to a ₹522 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 55312 53648 243353 229171 
Expenses 49048 47745 211053 206923 
EBITDA 6264 5903 32300 22248 
OPM 11% 11% 13% 10% 
Other Income -33 142 1569 -6005 
Net Profit 522 295 8075 -4910 
NPM 0.9% 0.5% 3.3% -2.1% 
EPS 0.42 0.26 7.2 -3.6 

Tata Technologies Q3 FY25 Results
Tata Technologies Q3 FY25 Results: Net Profit Marginally Declines to ₹169 Crore, Revenue Growth of 2%

Tata Technologies Ltd: Overview 

Tata Technologies is a leading global engineering and product development digital services company, specializing in providing end-to-end solutions for the automotive, aerospace, industrial machinery, and other manufacturing sectors. Founded in 1989 and headquartered in Pune, India, the company delivers services in product engineering, manufacturing engineering, and IT solutions, helping clients enhance product innovation, reduce time-to-market, and optimize costs. Tata Technologies leverages advanced technologies such as AI, IoT, and Industry 4.0 to support its clients in achieving digital transformation. With a global footprint and a focus on sustainable solutions, the company plays a pivotal role in driving innovation across the industrial landscape. The total employee headcount is 12680 employees as of Q2 FY25. The automotive segment contributes about 85% to the revenues. Tata Technologies has done Joint Venture with BMW Group. The automotive sector, a key area of focus for Tata Technologies, is undergoing a transformative phase with the rise of electric vehicles (EVs), autonomous driving, and connected vehicle technologies. Companies are investing heavily in developing EV platforms, lightweight materials, and next-generation mobility solutions, creating robust opportunities for ER&D players like Tata Technologies to support innovation and product design. The aerospace and defense industry is also contributing to growth, with increasing investments in advanced technologies such as additive manufacturing, digital twin solutions, and AI-driven design optimization. Additionally, the industrial and manufacturing sectors are adopting Industry 4.0 solutions, such as IoT-enabled machinery, predictive maintenance, and digital factories, driving demand for digital engineering services. With its strong capabilities in product lifecycle management (PLM) and smart manufacturing, Tata Technologies is well-positioned to address these needs. 

Latest Stock News 

Tata Technologies has been making significant strides in advancing its capabilities and expanding its market presence through key partnerships and contracts. The company has been selected by a prominent European firm to drive innovation in cost-efficient and sustainable solutions for next-generation vehicles, focusing on software development for embedded systems, infotainment platforms, and advanced engineering and simulation solutions. This reflects its growing expertise in the automotive sector, particularly in the areas of electric and software-defined vehicles (SDVs). In addition, Tata Technologies has entered into a multi-year contract with a European luxury automotive Original Equipment Manufacturer (OEM) to provide testing and development services for their upcoming range of electric vehicles. This deal underscores the company’s pivotal role in supporting the global shift towards electrification and sustainable mobility. 

Domestically, Tata Technologies has partnered with the Government of Tripura to enhance vocational training by upgrading 19 Industrial Training Institutes (ITIs). This initiative highlights the company’s commitment to skill development and fostering a future-ready workforce in India. At CES 2025, Tata Technologies announced a strategic partnership with Telechips to co-develop cutting-edge solutions for software-defined vehicles. This collaboration emphasizes its focus on next-gen automotive technologies and its ambition to lead in the SDV space through innovation and global partnerships. These initiatives collectively position Tata Technologies as a key player in engineering and digital transformation, enabling its clients to adopt sustainable and technologically advanced solutions across industries. 

Business Segments

  • Engineering, Research, and Development (ER&D) Services: This segment focuses on providing end-to-end product design, engineering, and development services to clients in industries such as automotive, aerospace, and industrial machinery. Tata Technologies specializes in product innovation, lightweight materials, and next-generation mobility solutions like electric vehicles and autonomous technologies. 
  • Product Lifecycle Management Solutions: Tata Technologies provides PLM consulting and implementation services, helping businesses manage the entire lifecycle of a product from conception to disposal. Its PLM solutions enable clients to streamline processes, improve collaboration, and enhance product quality. 
  • Enterprise IT Solutions: This segment offers IT solutions tailored to meet the specific needs of manufacturing enterprises. Services include ERP implementation, data analytics, smart manufacturing solutions, and Industry 4.0 initiatives. These services support digital transformation and enhance operational efficiency for global clients. 

Subsidiary Information: 

  • Tata Technologies Pte Ltd (Singapore): This subsidiary acts as a hub for Tata Technologies’ operations in the Asia-Pacific region, catering to the needs of regional clients. It focuses on providing ER&D services and digital transformation solutions, helping businesses stay competitive in emerging markets. 
  • Tata Technologies Europe Ltd (United Kingdom): This entity manages Tata Technologies’ presence in Europe, serving automotive and aerospace clients with cutting edge engineering and digital solutions. It plays a key role in expanding the company’s reach in the European market, where demand for EV and sustainability-focused engineering is growing. 
  • Tata Technologies (Thailand) Ltd: Established to serve the Southeast Asian market, this subsidiary provides engineering services and supports industries like automotive and manufacturing. It helps regional businesses adopt advanced technologies and improve product development cycles. 
  • Cambridge Technology Partners Inc. (USA): This U.S. based subsidiary focuses on delivering digital and IT services to clients in North America. It specializes in ERP solutions, cloud integration, and advanced analytics, helping businesses drive operational efficiency and digital transformation. 
  • Tata Technologies de México, S.A. de C.V. (Mexico): This subsidiary supports the company’s operations in Latin America, focusing on the automotive and manufacturing sectors. It offers a wide range of engineering and IT services tailored to meet the needs of regional clients. 

Q3 FY25 Earnings 

  • Revenue of ₹1289 crore in Q3 FY25 up by 2.2% YoY from ₹1317 crore in Q3 FY24.  
  • EBITDA of ₹234 crore in this quarter at a margin of 18% compared to 18% in Q3 FY24. 
  • Profit of ₹169 crore in this quarter compared to a ₹170 crore profit in Q3 FY24. 

Financial Summary 

INR Cr. Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 1289 1317 4414 5117 
Expenses 1053 1084 3593 4176 
EBITDA 237 234 821 941 
OPM 18% 18% 19% 18% 
Other Income 31 28 88 116 
Net Profit 170 169 624 679 
NPM 13.2% 12.8% 14.1% 13.3% 
EPS 4.2 4.16 15.4 16.8