Mumbai, July 29 -- Tata Sons' chairman N. Chandrasekaran was all praises for Tata Motors Ltd in his letter to shareholders included in the 2024-25 annual report of Tata Sons, the privately held parent company of the Tata group, released last week.

Deservedly so.

Chandrasekaran shared the performance record of both listed and privately held group companies for the last five fiscal years, which showed the carmaker recorded a 69% revenue increase between 2019-20 and 2024-25.

The top commercial vehicle maker's 955% stock-market return ranks among the best within the group. Tata Power Co. Ltd was the top-performing entity, with its shares delivering a return of 1,250%.

That makes Tata Steel's impressive 529% return look a shade paler.

But...