Tata Motors Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Tata Motors reported Q1 FY26 consolidated revenue of ₹104,407 crore, down 2.5% year-on-year, with EBITDA falling 35.8% to around ₹9,700 crore and EBIT margin contracting 370 basis points to 4.3%. JLR revenue declined 9.2% to £6.6 billion, hit by US tariffs, with EBITDA margin down 650 bps to 9.3% and EBIT margin at 4.0%. Tata Commercial Vehicles revenue fell 4.7% to ₹17,009 crore, but EBITDA margin expanded 60 bps to 12.2% on better pricing and cost savings. Tata Passenger Vehicles revenue dropped 8.2% to ₹10,877 crore with EBIT slipping to a negative 2.8%. Standalone profit after tax jumped to ₹5,350 crore (from ₹2,190 crore), helped by a ₹4,913 crore dividend from subsidiaries. Automotive free cash flow was a negative ₹12,300 crore due to seasonal working capital and tariff impacts. The NCLT reserved its order on the CV-PV demerger scheme with October 1, 2025 as the expected effective date, and the Iveco acquisition (€3.8 billion) was announced, expected to close by April 2026.
Weak operational numbers and negative free cash flow may pressure the stock near term, particularly given JLR's tariff exposure. However, the strong subsidiary dividend lifted standalone profits, and near-term catalysts such as the demerger effective date, new product launches, and easing tariff impact from the UK-US trade deal could support a gradual recovery.