Concern
Thinner margins than peers
EBITDA margin of 10.4% is below the commercial vehicles median of 15.3%.
Importance 47 / 95 · profitability
Tata Motors Limited · Research view
Tata Motors Limited
NSE: TMCVBSE: 544569ISIN INE1TAE01010Face value ₹2consolidated
₹415
−3.47% · 2026-10-01 · 52-wk ₹318–₹505
Financials to FY2026 · 1 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
Watch
Reported profit carries a one-off
FY2026 pre-tax profit includes a ₹1,428 exceptional charge (31.8% of PBT) — the underlying trend differs from the reported number.
Importance 45 / 95 · anomaly
Watch
Unusual tax rate
Effective tax rate of 36.3% (FY2026) is well above the ~25% corporate norm — a one-off tax item may be flattering or depressing reported profit.
Importance 37 / 95 · anomaly
Section 03 · The company
Who is this company?
Classified by the exchange under Industrials › Capital Goods › Agricultural, Commercial & Construction Vehicles › Commercial Vehicles.
- Market cap
- ₹1.53 L cr
- FY2026 revenue
- ₹83,855 cr
- FY2026 net profit
- ₹3,030 cr
- Net worth
- ₹12,734 cr
- Total debt
- ₹4,817 cr
- EPS (basic)
- ₹8.23
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 2 commercial vehicles.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Revenue and profit over the loaded history are shown above.
- Revenue growth per year
- —over 0 years
- Revenue growth
- —vs last year
- Net profit growth
- —vs last year
- Change in net profit since FY26
- 0%
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 net profit of ₹2,556 cr is the highest of the 4 quarters on record for this company.
Rule QTR_PROFIT_AT_RECORD
Strength
Q1 FY27 net profit was ₹2,556 cr, up 42.6% from ₹1,793 cr in the previous quarter (Q4 FY26).
Rule QTR_PROFIT_SEQUENTIAL_CHANGE
Watch
Q1 FY27 revenue was ₹20,667 cr, down 20.8% from ₹26,098 cr in the previous quarter (Q4 FY26).
Rule QTR_REVENUE_SEQUENTIAL_CHANGE
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY26 | 18,585 | — | −867 | — | −4.7% |
| Q3 FY26 | 21,847 | — | 705 | — | 3.2% |
| Q4 FY26 | 26,098 | — | 1,793 | — | 6.9% |
| Q1 FY27 | 20,667 | — | 2,556 | — | 12.4% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹87,197 crTTM
- EBITDA
- ₹10,029 crTTM
- EBIT
- ₹8,056 crTTM
- PBT
- ₹5,804 crTTM
- Net profit
- ₹4,187 crTTM
C. Corporate actions
12 Jun 2026DividendFinal Dividend - Rs. - 4.0000 — ₹4.00/share
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Concern
EBITDA margin of 10.4% is below the commercial vehicles median of 15.3%.
Rule MARGIN_BELOW_PEER_MEDIAN
- EBITDA margin now
- 10.4%
- 1-year range
- 10.4–10.4%
- ROE FY2026
- 23.8%
- ROCE FY2026
- 38.7%
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Leverage and cash generation over the loaded history are shown above.
- Total debt
- ₹4,817 cr
- Operating cash flow ÷ net profit
- 4.94×FY2026
- Free cash flow
- ₹13,805 cr
- Current ratio
- 0.76×
Section 08 · Relative position
How does it compare with peers?
Ranked against 2 commercial vehicles (FY2026, consolidated). No peer-relative rule fired for this company.
Not enough peers in this set report the underlying metrics yet for a ranking.
- P / E
- 36.5×TTM to Jun 26
- P / B
- 12.0×latest book
- P / S
- 1.8×TTM sales
- Earnings yield
- 2.7%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 50.4× · P/S 1.8× · ROE 23.8%. TTM and full-year profit differ by more than 15% — a one-off in a recent quarter is moving the trailing figure; weigh it against the full year.
Section 09 · The stock
How has the stock performed?
Long-term price performance is shown above.
- 1-year return
- —
- 3-year return
- —
- 5-year return
- —
- From 52-wk high
- −17.7%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹447
- vs 200-day avg
- Below₹430
- RSI (14)
- 35.2neutral
- MACD histogram
- -2.2
- From 52-wk high
- −17.7%
- From 52-wk low
- +30.4%
- 30-day volatility
- 27.5%ann.
- 6-month return
- −2.9%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- ConcernThinner margins than peersEBITDA margin of 10.4% is below the commercial vehicles median of 15.3%.MARGIN_BELOW_PEER_MEDIAN · conviction 47
- WatchReported profit carries a one-offFY2026 pre-tax profit includes a ₹1,428 exceptional charge (31.8% of PBT) — the underlying trend differs from the reported number.PROFIT_INCLUDES_EXCEPTIONALS · conviction 45
- WatchUnusual tax rateEffective tax rate of 36.3% (FY2026) is well above the ~25% corporate norm — a one-off tax item may be flattering or depressing reported profit.EFFECTIVE_TAX_UNUSUAL · conviction 37
- Only 1 annual year(s) of financials loaded — multi-year trend analysis is limited.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY26 |
|---|---|
| Revenue | 83,855 |
| Total income | 84,979 |
| EBITDA | 8,741 |
| Profit before tax | 4,494 |
| Net profit | 3,030 |
| EPS (₹) | 8.2 |
| Net worth | 12,734 |
| Total debt | 4,817 |
| Operating cash flow | 14,981 |
| Free cash flow | 13,805 |
| Ratio | FY26 |
|---|---|
| Growth | |
| Revenue growth YoY | — |
| Profit growth YoY | — |
| Profitability | |
| EBITDA margin % | 10.4 |
| Net margin % | 3.6 |
| Return on equity % | 23.8 |
| Return on capital % | 38.7 |
| Leverage & cash | |
| Debt to equity | 0.38 |
| Cash flow ÷ profit | 4.94 |
| Current ratio | 0.76 |