Peer Comparison: (Source: https://m.moneycontrol.

com/stock/tatamotors/TM03/peer-
comparison)

Company Price Market Cap(cr)

Ashok Leyland 85.50 25,098.76

0.71%

Eicher Motors 18,833.05 51,383.10

-0.60%

Force Motors 1,262.60 1,663.63

-1.77%

SML Isuzu 662.65 958.96

-2.62%

Tata Motors (TML) 160.95 46,471.88

1.04%

 TML (Tata Motors Limited) is the leader in India’s CV market with a market share of 45.1%
and sales of 4,68,788 vehicles in FY 2018-19 and has gained market share in the Medium and
Heavy Commercial Vehicle (MHCV), Intermediate Light Commercial Vehicle (ILCV) and Small
Commercial Vehicle (SCV) segments.
 TML outperformed the market with a growth of 13.9%. Market share for the year was 6.3%,
an improvement of 60bps from the last year.
 Market growth rate for the CV segment: 17.1%
 TML’s CV division grew at 17.2%
 Market share was gained across three of the four segments: MHCV at 55% (70bps growth
year on year), ILCV at 45.4% (50bps growth year on year) and SCV and PUs at 40.1% (70bps
growth year on year).
 Market share CV segment FY 2018-19

5%
20%
45%

29%

TML Eicher Mahindra Others

M&HCV market share FY 2018-19

4.6%

41.2%
55.0%

TML Ashok Leyland Mahindra

(Source: Company Annual Reports)