Pursuant to Regulations 33 and 52 of the SEBI LODR Regulations 2015, we are enclosing herewith the Audited Standalone and Consolidated Financial results for the period ended March 31, 2026.
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Tata Motors (CV standalone) reported record Q4 FY26 with revenue of Rs 24,452 crore (+22% YoY) and EBITDA margin expanding to 13.9% (+130 bps), crossing the 'teens' guidance ahead of schedule. Q4 PAT grew 70% to Rs 2,406 crore. For FY26, standalone revenue was Rs 77,399 crore (+11%), EBITDA Rs 10,200 crore (+22%), with margin at 13.2%. However, FY26 PAT declined 3% to Rs 3,362 crore due to Rs 3,700 crore of exceptional items (including Rs 2,355 crore impairment of TMF Holdings investments, Rs 962 crore stamp duty on demerger, and Rs 363 crore new labor code impact). The company generated strong free cash flow of Rs 9,186 crore in FY26. This is the first results filing after the demerger from Tata Motors Passenger Vehicles Ltd (effective October 2025), with prior periods restated. Unmodified audit opinions issued with an Emphasis of Matter on the demerger accounting. Board recommended dividend of Rs 4 per share.
Strong operational performance with margin expansion ahead of guidance and robust FCF generation. The demerger complexity and exceptional items create some noise in PAT, but underlying business momentum is strong. Net cash position of Rs 13,700 crore provides flexibility for the proposed Iveco acquisition.