Tata Motors Passenger Vehicles Limited announced Q3 FY26 results, revealing a revenue of ₹70.1K Cr, a decrease of 25.8%. The results were impacted by a cyber incident at JLR. Despite this, Tata PV revenue increased by 24% to ₹15.3K Cr. The company anticipates a notable recovery in Q4, driven by the normalization of JLR volumes and sustained growth in the domestic market. The consolidated free cash flow for the quarter was ₹(17.9)K Cr.
Financial Performance Overview
Tata Motors Passenger Vehicles Limited (TMPVL) reported consolidated Q3 FY26 revenue of ₹70.1K Cr, a 25.8% decrease year-over-year. EBITDA stood at ₹1.5K Cr. The results were affected by the carryover impact of a cyber incident at Jaguar Land Rover (JLR). However, Tata Passenger Vehicles (PV) demonstrated resilience, with revenue rising by 24% to ₹15.3K Cr.
JLR Performance
JLR’s revenue decreased to £4.5bn, down 39.4%, with an EBITDA margin of 0.7% (a decrease of 1350 bps) and an EBIT margin of -6.8% (a decrease of 1580 bps). Volumes were impacted by the cyber incident and a planned wind-down of legacy Jaguar models. The company anticipates improved performance in Q4 with the normalization of JLR volumes.
Tata Passenger Vehicles Performance
Tata PV revenue grew by 24%, reaching ₹15.3K Cr. EBITDA margin stood at 7.0%, a decrease of 80 bps. EBIT margin was 1.2%, a decrease of 50 bps. Domestic business continues to show robust demand, and the company aims to accelerate growth through new launches and innovations.
Key Highlights and Future Outlook
The company expects performance to improve significantly in Q4, driven by recovery at JLR and continued growth in the domestic market. TMPVL remains focused on leveraging its product portfolio and strategic approach to enhance margin improvement. Consolidated Free Cash Flow for the quarter was negative at ₹(17.9)K Cr.
Additional Details
Dhiman Gupta, Chief Financial Officer of TMPVL, noted that Q3 was challenging due to the cyber incident at JLR, while the domestic business showed robust revenue and margin improvement. The company is well-positioned to seize opportunities and drive growth with exciting products and a focused approach for margin improvement.
Standalone Financials
Standalone Q3 FY26 revenue from operations: ₹15,163 crores. Profit/(Loss) after tax for the period after tax from continuing operations (Q3 FY26): ₹(233) crores.
Source: BSE
