Tata Motors Passenger Vehicles Limited has informed the Exchange about Transcript
TMPV · price
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Tata Motors PV reported consolidated Q4 FY26 revenue of ~Rs. 1.05 lakh crore, up 7% year-on-year, with PBT before exceptionals of Rs. 7,200 crore and free cash flow of Rs. 11,000 crore. The India PV business hit a record 6.42 lakh units (15% YoY growth), with Q4 volumes crossing 2 lakh units for the first time and market share rising above 14%, making it the #2 player. EVs grew 43% to 92,000 units with 40% market share. Full-year PBT was Rs. 2,500 crore, excluding ~Rs. 4,100 crore in exceptionals related to cyberattack, labor code, and demerger stamp duty. A dividend of Rs. 3 per share (Rs. 1,100 crore outflow) was announced. JLR delivered Q4 EBIT of 9.2% but full-year EBIT of just 0.7%, and is targeting GBP 1.7 billion in cost savings over two years to bring breakeven volume back to 300,000 units. Management flagged 5-6% commodity headwind and is considering price increases, with formal FY27 guidance to come at the Investor Day in June.
Strong H2 recovery in India PV and EV volumes is positive, but commodity headwinds, JLR's weak full-year margins, and ongoing geopolitical risks (Middle East) may weigh on sentiment. Investors should watch the June Investor Day for formal FY27 guidance and details on the GBP 1.7 billion cost-saving plan.