Tata Motors Passenger Vehicles Limited reported consolidated revenue of ₹72.3K Cr for Q2 FY26, a decrease of 13.5%. JLR revenue declined due to a cyber incident, while the Tata PV business saw revenue increase by 15.6% to ₹13.5K Cr. The company anticipates overall performance improvements in H2 FY26, driven by domestic growth and new product introductions.
Consolidated Financial Performance
Tata Motors Passenger Vehicles Limited (TMPVL) reported consolidated revenues of ₹72.3K Cr for Q2 FY26, a 13.5% decrease year-over-year. Earnings Before Interest and Taxes (EBIT) was -₹4.9K Cr. The performance was significantly impacted by a cyber incident affecting Jaguar Land Rover (JLR).
For the first half of the fiscal year (H1 FY26), consolidated revenue reached ₹160.0K Cr, a 7.6% decline. Profit Before Tax (PBT) (bei) stood at -₹1.5K Cr.
Jaguar Land Rover (JLR) Results
JLR’s revenue for Q2 FY26 was £4.9b, a 24.3% decrease. The cyber incident significantly impacted JLR’s metrics, resulting in an EBIT margin of -8.6%, down 1370 bps. The company expects to recover with production returning to normal levels.
Tata Passenger Vehicles (PV) Performance
The Tata PV business showed positive momentum, with revenues up by 15.6% to ₹13.5K Cr. EBIT margins were at 0.2%, a 10 bps increase. The growth was supported by strong festive demand and the rollout of GST 2.0.
Key Highlights for Tata PV
- Q2 FY26 revenue at ₹13.5K Cr, up 15.6%, with EBITDA at 5.8%.
- Vahan registrations secured the #2 rank in market share across both Sep 2025 and Oct 2025.
- Punch became India’s fastest SUV to cross the 6 Lakh unit milestone in under 4 years.
Strategic Outlook
Tata Motors aims to stabilize production, enhance supply chain resilience, and intensify brand-led initiatives. The company anticipates an all-around performance improvement in H2 FY26.
Leadership Commentary
According to PB Balaji, Group CFO, Tata Motors is committed to emerging stronger from the cyber incident. With the demerger completed, both JLR and domestic PV businesses are well-positioned to leverage opportunities.
Source: BSE
