Tata Motors posted a strong set of numbers for the quarter that ended March on Friday on the back of a record-breaking year in terms of revenues and profits.

What Happened: Another major development the company reported was that its India businesses were now debt-free. The company said that the India business had a net cash position of ₹1,000 crore at the end of March 2024. This is a major turnaround from the ₹6,200 crore debt posted at the end of March 2023.

Talking about the development, PB Balaji, CFO, Tata Motors said, “The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25.” The company’s net automotive debt is around ₹16,000 crore. Out of that, ₹7,700 crore is from Jaguar Land Rover, a massive reduction from the ₹30,000 crore posted at the end of March 2023.

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The luxury car maker said that its free cash flow for the quarter was at £892 million and £2.3 billion for the full year, the highest-ever full-year cash flow. The company ended the year with a cash balance of £4.2 billion and total liquidity was at £5.7 billion, including the £1.5 billion undrawn revolving credit facility maturing April 1, 2026.

Talking about the year ahead, the global car brand said that it will continue to focus on brand activation to maintain its order book. “We expect EBIT margins in FY25 to be around the FY24 level. We anticipate a modest increase in investment spending to £3.5b but still expect to become net debt zero during FY25,” the company said in a press release.

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