Makes and sells passenger cars and SUVs, operating through two distinct businesses — a wholly-owned UK luxury subsidiary, Jaguar Land Rover, and an India passenger vehicle business covering mass-market and premium hatchbacks, sedans and SUVs. In FY26, consolidated revenue was ₹3,35,582 crore, with Jaguar and Land Rover contributing 81% of segment revenue and India PV 17.3%. Both businesses ran on thin margins (JLR 1.0% segment EBIT, India PV 1.4%), with India PV returning to growth in the second half after GST 2.0 and regaining the #2 position in Vahan market share, while its electric vehicles retained leadership of the India EV segment. JLR is in a transition phase, launching a product renewal cycle including the Range Rover EV and a new Jaguar, supported by a cost-out programme to lower its breakeven volumes. Materials at 58.3% of revenue are the largest cost line, followed by other operating expenses at 17.1% and employee costs at 13.5%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Jaguar and Land Rover (81%), Passenger Vehicle (India) (17%), Others (2%). Cyclical, capital-intensive passenger vehicle OEM spanning India mass-market and global premium luxury.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,78,454 | 3,45,967 | 4,37,928 | 4,39,695 | 3,35,582 |
| EBITDA (ex other income) | 24,091 | 33,510 | 58,561 | 55,588 | 14,755 |
| margin % | 8.7 | 9.7 | 13.4 | 12.6 | 4.4 |
| Owners' profit | (11,441) | 2,414 | 31,399 | 27,830 | 82,390 |
| EPS, as reported (₹) | (29.88) | 6.29 | 81.95 | 78.80 | (0.61) |
| ROE % · ROCE % | (23.2) · 1.3 | 5.1 · 7.3 | 34.2 · 18.9 | 22.9 · 18.2 | 69.5 · 0.3 |
| Debt / equity (x) | 2.86 | 2.39 | 1.06 | 0.51 | 0.59 |
| Cash from operations | 14,283 | 35,388 | 67,915 | 63,102 | 13,041 |
| Capex | (9,039) | (8,493) | (12,975) | (15,189) | (13,583) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,01,450 | 1,13,575 | 1,19,503 | 1,04,407 | 72,349 | 70,108 | 1,05,447 | 95,799 |
| Profit before tax | 5,685 | 7,712 | 11,390 | 5,429 | (8,108) | (4,902) | 7,143 | 1,558 |
| Net profit | 3,450 | 5,578 | 8,556 | 4,003 | 76,248 | (3,483) | 5,878 | 859 |
| EPS (₹) | 9.72 | 14.81 | 23.40 | 10.66 | (17.50) | (9.47) | 15.71 | 2.10 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| (a) Passenger Vehicle | 34,059 | 9.6 |
| (b) Corporate/Unallocable | 27 | 0.0 |
| - Jaguar and Land Rover | 2,73,303 | 77.2 |
| Others | 5,699 | 1.6 |
| (a) Commercial Vehicle | 17,009 | 4.8 |
| (b) Passenger Vehicle | 24,406 | 6.9 |
| (c) Corporate/Unallocable | 264 | 0.1 |
| Total, before eliminations | 3,54,767 | 100.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Tata Motors PV to hold investor meetings on September 11 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · NSE Sustainability assigns ESG rating of 72 under Leader category | business updates | medium | — | — |
| 7 Sept 2026 · JLR plans 4,000 job cuts and 1.7B pound savings under transformation plan | business updates | medium | — | — |
| 1 Sept 2026 · Tata Motors PV August 2026 sales up 56% YoY at 67,753 units | business updates | medium | — | — |
| 28 Aug 2026 · Analysts and Institutional Investors Meeting on September 2, 2026 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · TMPV and Tata Communications partner for 5G in Sierra.ev | compliance | low | — | — |
| 21 Aug 2026 · RBI compounding order on historical FEMA non-compliance, penalty Rs 2 lakh | regulatory legal | medium | — | — |
| 21 Aug 2026 · Tata Motors PV to hike car and SUV prices by up to Rs 25,000 from Sept 1, 2026 | business updates | medium | — | — |
| 20 Aug 2026 · Tata Motors PV: Sanand plant operations restored after flood disruption | capex operations | high | — | — |
| 19 Aug 2026 · Transcript of investor call shared with exchange | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|
| MARUTI SUZUKI INDIA LTD. | 3,89,856 | 27.2 | 3.64 | 15.1 | 13.7 | 16.8 | 21.1 | 11.8 |
| MAHINDRA & MAHINDRA LTD | 3,73,579 | 18.8 | 3.41 | 12.4 | 17.0 | 11.5 | 21.7 | 19.9 |
| HYUNDAI MOTOR INDIA LTD | 1,76,646 | 35.7 | 8.83 | 17.7 | 27.1 | 32.2 | — | 10.9 |
| TATA MOTORS PASS VEH LTD ◆ | 1,10,955 | — | 0.93 | 7.7 | 69.5 | (1.0) | 6.1 | 7.6 |
| FORCE MOTORS LIMITED | 23,335 | 18.6 | 5.56 | 12.5 | 28.9 | 33.7 | 35.4 | 15.0 |
| OLECTRA GREENTECH LIMITED | 9,905 | 55.9 | 8.03 | 29.2 | 14.6 | 16.8 | 52.4 | 12.2 |
| HINDUSTAN MOTORS LTD. | 289 | 23.1 | 9.02 | — | (0.1) | (0.2) | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.9 | 4.8 | 3 of 17 | 88% |
| ROCE | (0.9) | 10.9 | 17 of 20 | 16% |
| ROE | 69.5 | 14.6 | 1 of 17 | 100% |
| Debt / Equity | 0.6 | 0.6 | 10 of 17 | 44% |
| EBITDA margin | 7.6 | 10.9 | 10 of 17 | 44% |
| Revenue growth | (8.2) | 29.7 | 15 of 16 | 7% |
| Profit growth | (78.5) | 16.9 | 14 of 17 | 19% |
| Market cap | 110955 | 17824 | 7 of 21 | 70% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
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This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
