TMCVNSETata Motors Limited· Agricultural Commercial & Construction VehiclesHighNeutral

Announced Thu, 13 Nov, 2025 · 17:16 IST

Tata Motors (TMCV) Q2 FY26: CV revenue up 6.6%, EBITDA margin at 12.2%

Emphasis of matterExceptional itemResults restatedNet loss reportedEBITDA margin expansionResults View source PDF Explain this filing

TMCV · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+3.4%Reaction day

₹320.10

prior close

₹310.00

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.1%+3.3% vs market

Agricultural Commercial & Construction Vehicles peers, median of 10sector · industry level-1.2%+4.6% vs sector

On the reaction day the stock moved 3.3 pts more than Nifty 100 and 4.6 pts more than its Agricultural Commercial & Construction Vehicles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.3

10m

+0.0

15m

+0.2

30m

+2.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.4+0.1+3.3-1.2+4.6

Next day

+0.9+0.5+0.4-0.0+0.9

+1.2+0.1+1.2-1.4+2.6

+2.2+0.5+1.7-1.8+4.1

+1.1+0.9+0.1-1.6+2.7

+0.9+0.3+0.6-4.1+5.0

-0.8-0.4-0.4-2.9+2.1

15d

+12.0+0.7+11.3+0.3+11.7

+17.8+0.2+17.6+2.3+15.4

+35.3-0.9+36.2-3.0+38.3

+49.7-0.7+50.5-5.4+55.1

UpDownMarket · Nifty 100Sector · Agricultural Commercial & Construction Vehicles peers, median of 10Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Tata Motors (formerly TML CV, now TMCV) reported Q2 FY26, its first standalone quarter post-demerger. CV revenue rose 6.6% YoY to Rs 18,370 Cr; EBITDA margin expanded 150 bps to 12.2%. PBT before exceptions grew to Rs 1,694 Cr; FCF was Rs 2,211 Cr; ROCE at 45%. Consolidated posted a Rs 900 Cr net loss due to Rs 2K Cr MTM loss on Tata Capital and Rs 2,355 Cr non-cash impairment in subsidiary. Net cash of Rs 1.2K Cr. IVECO deal on track for April 2026.

Likely market impact

Strong CV operations with margin expansion and robust cash flows; consolidated loss driven by non-cash MTM and impairment items, not core business.