Company Overview

Tata Capital Limited (TCL), formerly known as Primal Investments & Finance Limited, is a non-deposit accepting Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). Established in 2007, it functions as the financial services arm of the Tata Group. Headquartered in Mumbai, Tata Capital Share offers a diverse portfolio of financial solutions catering to retail, corporate, and institutional clients.

Its offerings include:

• Vehicle loans (cars, two-wheelers, commercial vehicles)

• Home, personal, business, and consumer durable loans

• Loans against property and securities

• Commercial finance like term loans, working tata capital shares, equipment finance, lease rental discounting, bill/purchase order discounting, and project finance

• Other services such as travel and forex, Tata Cards, wealth management, investment banking, private equity advisory, and cleantech financing

TCL operates through 700+ branches and serves millions of customers across India, especially leveraging the Tata Capital Share brand’s trust and wide reach.

It emphasizes:

• Strong risk management and asset quality

• Diversified revenue streams

• Consistent profitability

• AAA credit ratings from top agencies

TCL has already raised capital through a rights issue and is planning a ₹17,200 crore IPO to support further expansion in both lending and non-lending services, reinforcing its strong market position under the Tata umbrella.

• Tata Capital Limited (TCL), a subsidiary of Tata Sons, is a leading Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India.

• Established in 2007 and headquartered in Mumbai, TCL serves as the financial services arm of the Tata Capital Share Group.

• The company offers a comprehensive range of financial products and services catering to retail, corporate, and institutional customers across India.

• These include home loans, personal loans, vehicle loans, business loans, loans against property and securities, as well as commercial finance solutions such as working tata capital shares loans, equipment finance, lease rental discounting, and project funding.

• Tata Capital Share also provides wealth management, investment banking, private equity advisory, credit cards (through Tata Cards), travel and forex services, and cleantech financing.

• The company operates through 700+ branches nationwide and maintains a strong digital presence, with over 90% of its processes digitized.

• Known for its robust risk management practices, stable asset quality, and diversified revenue streams, Tata Capital Share consistently maintains AAA credit ratings.

• With a growing customer base and strong brand trust under the Tata umbrella, Tata Capital Share is poised for continued expansion, supported by a planned ₹17,200 crore IPO in FY25.

Quick Company Overview

Financial Overview

In FY 2024–25, Tata Capital Share raised ₹85,069 crore via borrowings and ₹57,240 crore through debt issuance, resulting in a net cash inflow of ₹29,412 crore. Despite repaying ₹42,395 crore in debt, it maintained a healthy ₹9,478 crore closing cash balance. Dividends increased from ₹0.21 to ₹0.42 per share. The company also raised ₹1,489 crore in equity and ₹224.8 crore from minority investors. Strong tata capital Share infusion and sound risk management kept asset quality stable, earning a stable outlook from Fitch and CRISIL.

In FY 2024–25, Tata Capital Share demonstrated strong financial performance supported by robust funding strategies and prudent risk management. The company mobilized a total of ₹85,069 crore through borrowings, alongside ₹57,240 crore raised via debt instruments, ensuring ample liquidity for operations and growth. Despite a significant repayment of ₹42,395 crore in debt obligations, the company ended the year with a solid cash balance of ₹9,478 crore, indicating effective treasury management.

Tata Capital Share also secured ₹1,489 crore through equity infusion, further strengthening its capital base. In addition, ₹224.8 crore was raised from minority investors, reflecting investor confidence in its business model and future prospects. The company declared a dividend of ₹0.42 per share, doubling from the previous year’s ₹0.21, showcasing its commitment to shareholder value.

The sound financial planning and effective deployment of funds helped maintain stable asset quality despite market volatility. Both Fitch Ratings and CRISIL reaffirmed a ‘Stable’ outlook, highlighting Tata Capital Share strong governance, conservative credit practices, and sustainable funding profile. These developments position the company well for its upcoming ₹17,200 crore IPO and continued expansion in lending and non-lending services.

Tata Capital Share Financial Overview

• Loan book reached ₹2.22 lakh crore, growing ~41% year-on-year.
• Profit after tax (PAT) rose to ₹3,655 crore.
• Total income increased 56% to ₹28,370 crore.
• In FY25, Tata Capital Share Net Interest Income (NII) rose by 42.5% year-on-year to ₹11,500 crore, reflecting strong lending growth and effective interest margin management.
• Asset quality remained stable, with Gross Non-Performing Assets (GNPA) at 2.33% and Net NPA (NNPA) at 0.98%.
• NPA rise was due to Tata Motors Finance merger stress.
• EPS improved to ₹9.32; ROE stood at 10.6%.
• Capital base strengthened via ₹1,500 crore rights issue.
• IPO of ₹17,200 crore is planned in FY25.
• Over 90% processes are now fully digital.

Tata Capital – Business Segments

Why Invest in Tata Capital Shares – 12 Key Benefits

1. Strong Tata Group Backing :
Offers trust, brand credibility, and financial discipline across retail, SME, and institutional financial markets.

2. High Loan Book Growth :
Rapid expansion in loan book ensures scalable revenues across consumer, SME, and infrastructure financing verticals.

3. Pristine Asset Quality :
Gross NPA maintained under 1.5%, net NPA near 0.38%, reflecting excellent credit risk management.

4. Consistent Profitability :
PAT crossed ₹3,300 crore in FY 2024, with stable year-on-year earnings growth across all segments.

5. Top Credit Ratings :
AAA ratings from CRISIL, ICRA, and India Ratings lower funding cost and boost investor confidence.

6. Wide Distribution Network :
700+ branches ensure access to urban, semi-urban, and rural customers, driving deeper financial inclusion.

7. Diversified Business Model :
Operates in loans, wealth, insurance, forex, cleantech, and advisory, creating multiple revenue streams.

8. Strong Capital Base :
Recent rights issue and equity infusion strengthen balance sheet and strategic expansion capabilities.

9. Digital-First Operations :
90%+ onboarding and collections done digitally, improving efficiency, speed, and customer experience.

10. Upcoming IPO Opportunity :
Planned IPO offers exit opportunity, price discovery, and re-rating potential for early-stage investors.

11. Experienced Leadership Team :
Strong governance with Tata Capital Share values and expert management ensures regulatory compliance and operational prudence.

12. Growing Asset Base :
₹1.76 lakh crore asset size in FY 2024 provides economies of scale and market penetration benefits.

Expert Opinion

• Profit Growth: PAT rose from ₹1,851 cr (FY22) to ₹3,655 cr (FY25).

• Revenue Increase: Revenue nearly doubled to ₹28,313 cr by FY25.

• Loan Book Surge: Expanded from ₹90,121 cr to ₹2,21,950 cr.

• Asset Quality: GNPA at 2.33%, NNPA at 0.98%, mainly due to Tata Motors Finance merger.

• Provisions: PCR stayed above 70%, absorbing credit risk.

• Digital Focus: 90%+ onboarding and collections are digital.

• Branch Reach: 92% presence in non-metro areas.

• IPO Plan: ₹17,200 cr IPO to boost visibility and governance.

• Credit Rating: Maintains AAA rating.

• Tata Advantage: Strong brand trust and governance.

• Capital Buffer: Rights issue supports growth.

• Expert View: Considered a solid long-term NBFC investment.

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