Tata Motors PV Q2 FY27: Revenue ₹96.9K Cr (+34%), PV Domestic Revenue ₹20.4K Cr (+51%)
Tata Motors Passenger Vehicles Limited reported Q2 FY27 consolidated revenue of ₹96.9 K Cr (+34% YoY) and domestic PV revenue of ₹20.4 K Cr (+51% YoY). Consolidated PAT was ₹(5.5) K Cr. JLR revenue was £5.9bn (+20.3% YoY). The company launched three new luxury EVs and revised full-year guidance.
The announcement includes key financial results, significant revenue growth figures, strategic product launches (EVs), and revised full-year guidance, all of which are material information for investors and have a substantial impact on the company's valuation and future outlook.
The company reported significant year-on-year revenue growth in both consolidated and domestic passenger vehicle segments, along with positive developments in JLR's performance and new EV launches, indicating a strong operational performance despite market challenges.
Tata Motors Passenger Vehicles Limited (TMPVL) announced its financial results for the second quarter and half year ended September 30, 2026. The company reported consolidated revenues of ₹96.9 K Crore, a 34% increase year-on-year, with an EBITDA margin of 6.2% and an EBIT margin of 1.1%. The year-on-year improvement was primarily attributed to the recovery from a cyber incident at JLR in the prior year period. Sequentially, margins were impacted by an adverse mix and ongoing commodity cost pressures.
The domestic business achieved its highest ever quarterly revenues at ₹20.4 K Crore, a 51% increase year-on-year. Consolidated Profit Before Tax (before exceptional items) stood at ₹0.4 K Crore. Exceptional items for Q2 FY27 included provisions for employee separation costs and asset impairment, totaling ₹6.7 K Crore (₹3.8 K Crore and ₹2.9 K Crore respectively). This resulted in a consolidated Profit Before Tax of ₹(6.3) K Crore. The Profit After Tax for Q2 FY27 was ₹(5.5) K Crore after recognizing a deferred tax asset. Consolidated Free Cash Flow for the quarter was ₹(6.3) K Crore, leading to a Net Debt of ₹50.8 K Crore as of September 30, 2026.
Dhiman Gupta, Chief Financial Officer, TMPVL, stated that the company continued to build momentum in the domestic business while JLR delivered resilient volumes despite challenges. He added that adverse mix and commodity pressures weighed on margins, but both businesses remain fundamentally strong, with a focus on driving growth, accelerating cost reductions, and improving cash generation.
JLR reported revenues of £5.9 billion, up 20.3% year-on-year, with an EBITDA margin of 6.6% and an EBIT margin of 1.1%. JLR launched three new luxury electric vehicles: Range Rover Electric, Range Rover Sport Electric, and Jaguar Type 01. The company revised its full-year guidance to an adjusted EBIT margin of 2-3% and a free cash outflow of approximately £1.25 billion, citing ongoing market challenges and geopolitical risks.
Tata Motors Passenger Vehicles (Tata PV) recorded robust demand, with volumes growing 40% year-on-year and outperforming the industry. EV volumes grew by 90% year-on-year. Tata PV achieved its highest-ever quarterly revenue of ₹20.4 K Crore in Q2 FY27, a 51% growth year-on-year. EBITDA margin was 4.0% and EBIT margin was -0.3%. Free Cash Flow for Q2 FY27 was positive at ₹825 Crore. The company unveiled its new consumer-facing global brand identity, TATA.CARS, and maintained its #2 position in the Vahan market share at 14.3%. EV market share stood at 43%.
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