Tata Motors’ Q2 FY26 results were affected by a cyber incident at Jaguar Land Rover (JLR), though domestic performance remained strong. Revenue reached ₹72.3K Cr, while EBITDA was slightly negative at (0.1)%. The company experienced resurgence in domestic demand following GST cuts, but the cyber incident significantly hampered overall results. Efforts are underway to recover and enhance operational resilience.
Financial Overview
Tata Motors reported revenue of ₹72.3K Cr for Q2 FY26, impacted by a cyber incident affecting Jaguar Land Rover (JLR). EBITDA was reported at (0.1)% and PBT(bei) at ₹(5.5)K Cr. Domestic performance showed resilience with demand resurgence post GST cuts. The results are consolidated and in accordance with IndAS.
Segment Performance
The Tata Passenger Vehicles segment saw revenue of ₹13.5K Cr and EBITDA of 5.8%. Upswing in demand reflecting improved performance QoQ. The JLR segment experienced a cyber incident in September, impacting the overall metrices with revenue of £4.9bn and EBIT margin of (8.6)%.
Key Highlights
Despite the cyber incident, Tata Motors re-entered the South Africa market and Punch became India’s fastest SUV to cross 6 Lakh milestone. Launched Adventure X Persona of Harrier & Safari; Nexon.ev with ADAS. There was also a cyber incident which impacted Q2 performance; production restarted from October 8.
Net Auto Debt
Net auto debt stood at ₹20.1K Cr, with the cyber incident increasing net debt. Domestic PV+EV business maintains a healthy net cash position. The company also has plans on Domestic, EV and JLR businesses.
Future Outlook
Tata Motors anticipates a stronger H2, focusing on recovery actions at JLR and product actions in the domestic PV business. Key priorities include leveraging growth momentum, improving profitability through operating leverage, and driving EV mainstreaming. The company expects global demand to remain challenging.
JLR Performance Details
JLR volumes reduced in Q2 following production stoppages in September after a cyber incident and the planned wind down of legacy Jaguar models ahead of the launch of new Jaguar. Q2 revenue of £4.9bn, down 24.3% YoY and operating loss for the period of (8.6)%. The cyber incident related costs of £196m and voluntary redundancy programme costs of £42m.
Source: BSE
