Tata Motors Q3 FY26: Revenue ₹21,533 Cr (+17%), PBT ₹2,290 Cr, Approves Amalgamation Scheme
Tata Motors reported Q3 FY26 results with revenue at ₹21,533 crore (+17% YoY) and EBITDA at ₹2,700 crore (+19% YoY). PBT stood at ₹2,290 crore. The company approved a Composite Scheme of Amalgamation to merge its subsidiaries TMF Holdings and TMF Business Services with itself. Free Cash Flow was ₹4,752 crore for the quarter.
The strong financial performance, particularly in the Commercial Vehicles segment, and the strategic corporate action of merging subsidiaries are significant developments that will likely have a considerable impact on the company's future performance and structure.
The company reported strong financial results with significant year-on-year growth in revenue and EBITDA, alongside a robust free cash flow. The approval of the amalgamation scheme is also a positive step towards streamlining operations.
Tata Motors Limited announced its financial results for the third quarter and nine months ended December 31, 2025. The company's Commercial Vehicles segment reported a strong performance, with revenue reaching ₹21,533 crore, a 17% increase year-on-year. EBITDA stood at ₹2,700 crore, up 19%, and EBITDA margin was 12.7%, marking the tenth consecutive quarter of double-digit EBITDA. EBIT margin also crossed the double-digit milestone at 10.6%. Profit Before Tax (PBT) before exceptional items was ₹2,290 crore, a 36% increase. Free Cash Flow (FCF) for the quarter was robust at ₹4,752 crore, and for the nine months, it stood at ₹5,169 crore.
Consolidated revenues were ₹21,800 crore, with EBITDA margin at 12.5% and EBIT margin at 10.4%. Consolidated PBT was ₹2,600 crore, and Profit After Tax (PAT) was ₹700 crore. The company reported a net cash positive position of ₹6,100 crore as of December 31, 2025.
Exceptional items for the quarter amounted to ₹1,545 crore in standalone financials and ₹1,600 crore in consolidated financials, including impacts from the New Labor Code, demerger, and acquisition costs.
In a significant corporate action, the Board of Directors approved a Composite Scheme of Amalgamation to merge its wholly-owned subsidiaries, TMF Holdings Limited and TMF Business Services Ltd, with Tata Motors Limited. This move aims to create a simplified and streamlined group structure and is subject to necessary approvals.
The company highlighted business achievements, including a 20% increase in CV segment wholesales to 116,800 units and a sequential market share growth to 35.5% in the domestic CV VAHAN market. Tata Motors also launched 17 Next-Generation Trucks and showcased its electric truck range.
Looking ahead, the company expects demand to strengthen in Q4FY26, driven by government infrastructure initiatives and expansion in end-use sectors. Management expressed confidence in sustaining momentum and driving continued growth.
What to do with a filing like this
Tata Motors Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Tata Motors Limited. Read the original for the full detail.