Tata Motors Passenger Vehicles Limited reported a 13.5% drop in consolidated revenue to ₹72.3K Cr for Q2 FY26. The results were impacted by a cyber incident at Jaguar Land Rover (JLR). Tata PV revenue increased by 15.6% to ₹13.5K Cr. The company expects overall performance improvement in H2 FY26, focusing on production stabilization and enhanced savings.
Financial Performance Overview
For Q2 FY26, Tata Motors Passenger Vehicles Limited (TMPVL) reported consolidated revenues of ₹72.3K Cr, a 13.5% decrease. The company faced an EBIT loss of ₹4.9K Cr. PBT (bei) stood at -₹5.5K Cr. However, automotive free cash flow remained positive at ₹8.3K Cr. These results were announced on November 14, 2025.
JLR Performance Impacted
Jaguar Land Rover’s (JLR) revenue decreased by 24.3% to £4.9b. EBITDA margin was -1.6%, and the EBIT margin was -8.6% due to a significant cyber incident. JLR’s Q2 FY26 PBT (bei) was £(485)m. Despite these challenges, operations have recovered, returning to normal production levels. The company expects the revised EBIT guidance between 0% to 2% for FY26.
Tata PV Growth
Tata Passenger Vehicles (Tata PV) saw revenue increase by 15.6% to ₹13.5K Cr. The EBITDA margin was 5.8%, and the EBIT margin was 0.2%. The growth was supported by strong festive demand and the impact of GST 2.0. Punch became India’s fastest SUV to reach the 6 Lakh milestone in under four years.
Key Highlights and Developments
- Vahan registration market share reached 12.8% in Q2 FY26, and EV market share hit 41.4%.
- Alternative powertrain options continue to gain traction, with EV penetration at 17% and CNG at 28%.
- The all-new Altroz achieved a 5-Star Bharat NCAP Rating.
Future Outlook
Tata Motors aims to stabilize production and enhance supply chain resilience. The company plans to amplify brand-led initiatives to boost demand and accelerate savings. Domestic business is expected to grow, driven by GST 2.0 and new product launches. Overall improvement is anticipated in H2 FY26.
JLR’s Strategic Actions
JLR is fast-tracking a £500m financing solution for qualifying suppliers to enhance liquidity. It is focused on cost savings through its transformation program and is committed to investing £18b over five years from FY24.
Source: BSE