Tata Motors Q2 FY27 Results: Revenue ₹96.9K Cr, JLR Posts Profit, PV Sales Surge 51%
Tata Motors Passenger Vehicles Limited reported Q2 FY27 consolidated revenue of ₹96,920 crore, up 34.0% YoY. JLR posted a PBT of ₹57 crore, while Tata Passenger Vehicles (India) revenue surged 51.1% to ₹20,423 crore, achieving breakeven PBT. The company aims for FY27 revenue of c. ₹25,000 crore and double-digit EBITDA in FY28.
The announcement details significant financial performance improvements, strategic product launches, and positive future outlooks for both JLR and the Indian PV business, which are material to the company's valuation and investor sentiment.
The company reported strong revenue growth for both consolidated and individual segments, with JLR returning to profitability and Tata Passenger Vehicles showing significant sales increases and market share gains, particularly in EVs. The outlook for FY27 and FY28 is also positive.
Tata Motors Passenger Vehicles Limited (TMPV) has announced its financial results for the second quarter and half-year ended September 30, 2026. The company reported a consolidated revenue of ₹96,920 crore for Q2 FY27, marking a significant YoY increase of 34.0%. The Jaguar Land Rover (JLR) segment contributed ₹75,420 crore in revenue, with an EBITDA margin of 6.7% and EBIT of 1.1%. JLR reported a Profit Before Tax (PBT) before exceptional items of ₹57 crore for the quarter.
The Tata Passenger Vehicles (TPV) India business demonstrated robust performance with revenue of ₹20,423 crore, a substantial YoY growth of 51.1%. This segment achieved an EBITDA margin of 4.0% and reported breakeven PBT before exceptional items. The company highlighted record quarterly sales for TPV, exceeding 200,000 units, driven by strong demand across its portfolio, with the Punch emerging as the #1 model in India for the quarter.
EV penetration within the TPV business reached 23%, with industry-beating growth of 90% YoY in EVs, contributing to a 380 bps QoQ increase in EV market share. New launches like the Tata Sierra & Sierra.ev, Punch & Punch.ev facelift, Tiago & Tiago.ev facelift, and Tata Aeris have been key drivers of this performance.
Consolidated PBT before exceptional items for the group was ₹403 crore. The company's outlook for FY27 projects revenue of approximately ₹25,000 crore and an EBIT margin of 2-3%, targeting double-digit EBITDA and positive free cash flow in FY28. JLR's outlook includes targeting approximately £25 billion in revenue and an EBIT margin of 2-3% in FY27, with a plan to achieve double-digit EBITDA and positive free cash flow in FY28.
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See the model portfoliosA plain-language summary of a public exchange filing by Tata Motors Passenger Vehicles Limited. Read the original for the full detail.