Auto major Tata Motors declared its Q4FY23 results and declared final dividend on 12 May 2 per ordinary share and Ordinary share of face value of 2.10 per ‘A’ 2 to each of its shareholders for the financial year ending March 31, 2023 – which is a first by a Tata group auto firm since FY 2015-16.
“We wish to inform that the Board of Directors at its meeting held today has recommended the declaration of Final Dividend 2 per ordinary share 2 each (@100 percent) and 2.10 per ‘A’ Ordinary Share 2 each (@105 per cent) for the financial year ending March 31, 2023,” Tata Motors said in a regulatory filing to the stock exchanges.
It added, “The dividend, if declared at the AGM, will be paid to the eligible shareholders with effect from August 14, 2023.”
In the January-March quarter, Tata Motors beats estimates in consolidated net profit 5,407.79 crore as against a net loss of Rs. 1,032.84 crore in the same quarter a year ago. Sequentially, Q4FY23 PAT saw a growth of around 83 per cent. The company’s top-line front is also strong with over 35 per cent growth in revenue.
“Passenger vehicles sales grew exponentially in FY23 to set a new record for the Indian auto industry. Tata Motors registered its third consecutive year of industry leading growth to register its highest ever annual domestic sales and achieve a strong sales growth of 46 per cent in FY22.
Tata Motors has crossed the important milestone of 50,000 annual sales in EVs, the highest ever to register a growth of 154 per cent in FY22,” Shailesh Chandra, Managing Director Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Limited said.
Tata Motors shares closed up 0.78 per cent on March 12. 515.65 per share on BSE.
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