Tata Motors Passenger Vehicles Limited announced its financial results for the second quarter and half-year ended September 30, 2026. The company reported a consolidated revenue of ₹96.9K Cr, a significant increase of 34% year-on-year. This growth was driven by strong momentum across both its domestic and Jaguar Land Rover (JLR) businesses. The company also reported improved EBITDA margins and PBT.
Tata Motors PV Announces Strong Q2 FY27 Financials
Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) has announced robust financial results for the quarter and half-year ended September 30, 2026. The company showcased a commendable performance, with consolidated revenues reaching ₹96.9K Cr, marking a substantial year-on-year growth of 34%. This surge in revenue highlights the company’s sustained growth momentum across its diverse business segments.
Key Financial Highlights
Consolidated Performance
In the second quarter of FY27, Tata Motors Passenger Vehicles Limited achieved consolidated revenues of ₹96.9K Cr, up 34% YoY. The EBITDA margin stood at 6.2%, reflecting a 630 bps improvement YoY, while the EBIT margin saw a significant rise of 790 bps YoY to 1.1%. These improvements are largely attributed to the recovery from the cyber incident at JLR in the previous year. However, sequential margins were impacted by an adverse mix and persistent commodity cost pressures. Consolidated PBT (before exceptional items) was ₹0.4K Cr. The company also reported a consolidated Free Cash Flow (FCF) of (₹6.3)K Cr, resulting in a Net Debt of ₹50.8K Cr as of September 30, 2026.
Jaguar Land Rover (JLR) Performance
JLR demonstrated strong performance with revenue for Q2 FY27 at £5.9bn, up 20.3% YoY. The EBITDA Margin for JLR was 6.6%, an increase of 820 bps, and the EBIT Margin improved to 1.1%, up 970 bps. The company reported profit before tax and exceptional items of £6m for Q2. JLR unveiled three new luxury electric vehicles, including the Range Rover Electric, Range Rover Sport Electric, and Jaguar Type 01, signaling a strategic push towards electrification.
Tata Passenger Vehicles (Tata PV) Performance
The domestic business recorded its highest-ever quarterly revenue at ₹20.4K Cr, a significant 51% growth YoY. However, the EBITDA margin for Tata PV was 4.0%, a decrease of 180 bps YoY, and the EBIT Margin was (0.3)%, down 50 bps YoY. Despite strong growth, margins were compressed due to adverse commodities and FX impact. PBT (before exceptional items) for Q2 FY27 was at breakeven. The company launched the new Tata Aeris and introduced multiple smart product interventions, strengthening its market position.
Looking Ahead
The company anticipates that global geopolitical volatilities, luxury segment demand trends, EV adoption pace, and commodity costs will remain key monitorables. Tata Motors Passenger Vehicles Limited plans to continue driving industry-beating growth for its domestic business while improving margins through focused cost reductions and calibrated pricing. For JLR, the focus will be on building sales momentum from new EV launches and demonstrating progress in its Enterprise Missions plan.
Management Commentary
Shailesh Chandra, Managing Director & CEO, Tata Motors Passenger Vehicles Limited, stated, “Q2 FY27 was another quarter of strong execution for Tata Motors PV, with record quarterly sales of 200k+ units and industry-beating growth of 40% YoY reflecting robust customer demand across our portfolio. We maintained our leadership in electric mobility, recording industry-beating growth of 90% YoY in EV sales. Building on the momentum of our Q1 launches, we further strengthened our portfolio with new launchings including the all-new Tata Aeris. We also unveiled our new customer-facing identity, TATA.CARS, reflecting the evolution of our brand in step with the aspirations of today’s Indian car buyer. We registered a Y-o-Y revenue growth of 51% and our highest ever quarterly revenues of ₹20.4K Cr in Q2FY27. While steep commodity cost pressures remained a headwind, we responded through calibrated pricing and focused cost actions. Looking ahead, we remain focused on sustaining industry-beating growth, capitalizing on growing EV-penetration, ramping up production capacity and strengthening profitability.”
Source: BSE
