Tata Tech expects 35% biz growth with increasing EV demand in India
POWER & RENEWABLE ENERGY

Tata Tech expects 35% biz growth with increasing EV demand in India

Tata Technologies (Tata Tech), the Tata Group's engineering services and product development arm, has announced that its business will grow by more than 35% in the current financial year 2021-22, or FY22, owing to recovery-driven investments in the automotive sector and companies laying out long-term plans for electric vehicles (EVs) around the world.

The company's revenue for 2020-21 fell 16.5% to Rs 2,380.9 crore due to the Covid-19 pandemic, compared to the previous financial year. The company has also set a revenue goal of becoming a half-billion-dollar company by the end of this fiscal year.

The rise in interest in the electric vehicle segment by various companies, according to Tata Tech, will likely add to its business portfolio in FY22. The company's electric vehicle modular platform is likely to be the driving force.

A delay in launch could cost an original equipment manufacturer around $1 million per day, according to estimates.

Harris said that even though demand in other segments, such as industrial, is increasing.

Tata Tech is owned by Tata Motors to the tune of 72%, and Alpha TC Holdings to the tune of 9%.

Harris informed that the company is financially sound, but declined to comment on the company's plans for an initial public offering.

Before the pandemic, Tata Motors was in talks with Warburg Pincus LLC, a private equity firm, about investing $360 million in Tata Tech. The deal, however, was cancelled due to a delay in receiving regulatory approvals.

Despite the pandemic, the company partnered with GKN Automotive, a global leader in driveline systems and advanced ePowertrain technologies, and in October 2020 opened an advanced, global e-mobility software engineering centre in Bengaluru. The company intends to expand this facility, according to reports.

Image Source


Also read: Tamil Nadu govt to issue revised EV policy with special features

Tata Technologies (Tata Tech), the Tata Group's engineering services and product development arm, has announced that its business will grow by more than 35% in the current financial year 2021-22, or FY22, owing to recovery-driven investments in the automotive sector and companies laying out long-term plans for electric vehicles (EVs) around the world. The company's revenue for 2020-21 fell 16.5% to Rs 2,380.9 crore due to the Covid-19 pandemic, compared to the previous financial year. The company has also set a revenue goal of becoming a half-billion-dollar company by the end of this fiscal year. The rise in interest in the electric vehicle segment by various companies, according to Tata Tech, will likely add to its business portfolio in FY22. The company's electric vehicle modular platform is likely to be the driving force. A delay in launch could cost an original equipment manufacturer around $1 million per day, according to estimates. Harris said that even though demand in other segments, such as industrial, is increasing. Tata Tech is owned by Tata Motors to the tune of 72%, and Alpha TC Holdings to the tune of 9%. Harris informed that the company is financially sound, but declined to comment on the company's plans for an initial public offering. Before the pandemic, Tata Motors was in talks with Warburg Pincus LLC, a private equity firm, about investing $360 million in Tata Tech. The deal, however, was cancelled due to a delay in receiving regulatory approvals. Despite the pandemic, the company partnered with GKN Automotive, a global leader in driveline systems and advanced ePowertrain technologies, and in October 2020 opened an advanced, global e-mobility software engineering centre in Bengaluru. The company intends to expand this facility, according to reports. Image SourceAlso read: Tamil Nadu govt to issue revised EV policy with special features

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?