Tata Motors Passenger Vehicles Limited (TMPVL) announced its financial results for the second quarter and half-year ended September 30, 2026. The company reported consolidated revenue of ₹96.9K crore, a significant increase of 34% year-on-year. This performance was driven by robust demand across both its domestic and Jaguar Land Rover (JLR) businesses, with notable growth in EV volumes and record quarterly revenues for the domestic business. The company also unveiled new luxury electric vehicles and highlighted strategic plans for future growth and profitability.
| Key Financial Highlights (Q2 FY27) | Amount | YoY Growth |
| Consolidated Revenue | ₹96.9K crore | +34% |
| EBITDA | ₹6.0K crore | N/A |
| Profit Before Tax (bei) | ₹0.4K crore | +₹5.9K crore |
| Consolidated Free Cash Flow (FCF) | ₹(6.3)K crore | N/A |
Strong Revenue Growth and Profitability
Tata Motors Passenger Vehicles Limited (TMPVL) has announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company showcased a strong performance with consolidated revenues reaching ₹96,920 crore for the quarter, marking a substantial increase of 34.0% compared to the same period last year. This growth was attributed to the robust demand momentum across its entire portfolio, significantly outperforming the industry.
The company reported an EBITDA of ₹6.0K crore for the quarter. Profit Before Tax (bei) stood at ₹0.4K crore, showing an improvement of ₹5.9K crore compared to the previous year. Despite these positive results, margins were impacted sequentially by an adverse mix and continuing commodity cost pressures.
Segment Performance
Jaguar Land Rover (JLR)
JLR demonstrated strong performance with revenue for the second quarter at £5.9 billion, up 20.3% YoY. The EBITDA margin for JLR was 6.6%, an improvement of 820 basis points. The business unveiled three new luxury electric vehicles, signaling a strategic push towards electrification and premium offerings. However, market-specific challenges and commodity pressures weighed on margins.
Tata Passenger Vehicles (Tata PV)
The domestic business recorded its highest ever quarterly revenues at ₹20.4K crore, a remarkable growth of 51% YoY. EV volumes saw a significant increase of 90% YoY, further strengthening TMPV’s market leadership. The company launched the new Tata Aeris and introduced multiple smart product interventions, responding well to market demands and competition.
Strategic Initiatives and Future Outlook
TMPV continues to focus on its medium-term priorities, including driving growth through new launches, accelerating cost reductions, and improving cash generation. The company unveiled its new consumer-facing global brand identity, TATA.CARS, with the brand promise “Nothing’s Too Far.” Looking ahead, the company remains focused on sustaining industry-beating growth and strengthening profitability amidst global geopolitical volatilities and evolving market trends.
Key Financial Data Summary
| Particulars | Q2 FY27 | Q2 FY26 (YoY) |
| Consolidated Revenue (₹ crore) | 96,920 | +34.0% |
| Jaguar Land Rover Revenue (£m) | 5,894 | +20.3% |
| Tata PV Revenue (₹ crore) | 20,423 | +50.9% |
| Consolidated EBITDA Margin (%) | 6.2% | +630 bps |
| JLR EBITDA Margin (%) | 6.6% | +820 bps |
| Tata PV EBITDA Margin (%) | 4.0% | -180 bps |
| Consolidated PBT (bei) (₹ crore) | 403 | +5,865 Cr |
| Consolidated FCF (₹ crore) | (6,300) | N/A |
| Net Debt (₹ crore) | 50,800 (as at Sep 30, 2026) | N/A |
The audited standalone financial results and the limited review report on unaudited consolidated financial results are enclosed herewith. The information is also available on the company’s website at tata.cars.
Source: BSE
