Tata Motors
Tata Motors
IndustrialsKey Fundamentals
LargecapCommercial VehiclesAutomobilesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
1- Stock is trading at 12.6 times its book value
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoTata Motors' commercial vehicle (TMCV) division operates at a market cap of ₹1,58,623 Cr with a PE of 38.7x and a price-to-book of 12.71x. TTM sales growth stands at 15% while TTM profit growth is a robust 53%, and the last reported ROE is 34%. The company has been reducing debt, though several historical growth metrics remain undisclosed.
- TTM profit growth of 53% signals strong earnings momentum and improving operational leverage in the commercial vehicle segment
- Last year ROE of 34% indicates highly efficient capital deployment relative to shareholder equity
- TTM sales growth of 15% reflects healthy top-line expansion amid a recovering CV cycle in India
- Active debt reduction improves the balance sheet and lowers interest burden, freeing up cash flows for reinvestment
- Market cap of ₹1,58,623 Cr reflects the market's recognition of TMCV's dominant position in Indian commercial vehicles
- Dividend yield of 0.91% provides a modest income floor, suggesting the company is returning some capital to shareholders
- Profit growth of 53% significantly outpaces sales growth of 15%, pointing to meaningful margin expansion and cost discipline
- Price-to-book of 12.71x is elevated and well above typical industrial sector averages, leaving limited margin of safety
- PE of 38.7x is rich for a cyclical commercial vehicle business, pricing in substantial future growth that may not materialize
- Key historical metrics such as 3-year, 5-year, and 10-year compounded sales and profit growth are unavailable, making long-term trend analysis difficult
- Debt-to-equity ratio is undisclosed, preventing a full assessment of financial leverage risk despite reported debt reduction
- 52-week high and low data are both reported as 0, offering no visibility on recent price range or volatility
- Dividend yield of only 0.91% suggests limited shareholder returns relative to the premium valuation demanded by the market
- Commercial vehicle demand is inherently cyclical and tied to GDP growth, infrastructure spending, and freight rates — a downturn could compress the 53% profit growth sharply
- Absence of EPS data limits per-share profitability analysis and makes it harder to assess whether the 38.7x PE is justified by underlying earnings quality
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- JLR profit collapses 69% YoY Sep 5
JLR revenue fell 9.6% to £6.0B in Q1 FY27 with pre-tax profit down 69% to £109M. Cyberattack cost ~£200M, break-even rose to 350K units, and 4,000 UK job cuts planned over two years to save £1.7B.
- Kotak cuts PV target, Sell rating Sep 1
Kotak lowered Tata Motors PV fair value to ₹285 from ₹310 with a Sell rating, citing JLR competitive threats from Chinese EVs, ~GBP400M US tariff costs, and PLI expiry risk from 2028 (25% of EBITDA in FY26).
- Q1 FY27 net profit plunges 80% Aug 21
Consolidated net profit crashed 80.25% to ₹775 crore in Q1 FY27 despite 9.3% revenue growth to ₹95,799 crore. EBITDA margin contracted 210bps to 6.60% as commodity inflation hit ~4.5% of PV revenue.
- Commodity costs force third price hike Aug 21
TMPV announced its third 2026 price hike of up to ₹25,000 from Sep 1, following 1.5% in July and 0.5% in April. Cell costs rose ~10% sequentially, with further commodity pressure expected in Q2.
- Chinese EV competition intensifies Sep 5
Chinese brands captured 15% UK market share in H1 2026 with 175,000 vehicles (121% YoY increase). Denza B5 entering UK at near parity to JLR Defender, threatening JLR's key franchise.
- China battery cell supply bottleneck Aug 30
EV commercial vehicle production constrained by Chinese battery cell import lead times, limiting ability to fulfill 3,400+ order backlog. Resolution expected by end of Q1-Q2 FY27.
- CV sales surge 49% in August Sep 1
Total CV sales hit 44,411 units in Aug 2026 (vs 29,863 YoY), beating estimates by 14.5%. International volumes surged 227% to 7,792 units while domestic grew 33% to 36,619 units.
- €3.82B Iveco deal fully cleared Sep 2
All regulatory approvals secured for €3.82B Iveco acquisition. Tender offer opens Sep 7-Oct 26 at €14.10/share, creating a 590K+ unit global CV powerhouse with €21B+ combined revenue.
- PV market share jumps to 14.29% Aug 30
Tata became the biggest PV market share gainer in Jan-Aug 2026, rising to 14.29% from 12.62%. Registrations surged 37.2% to 494,370 units with EV registrations up 85.5% to 86,182 units.
- Electric CV bookings triple Aug 30
Secured 3,400+ electric CV orders across freight, logistics and passenger segments. EV SCV penetration reached 10% in May-June 2026 with 70%+ electric bus market share.
- ₹10,000 crore expansion plan Aug 23
Investment of 7-9% of PV revenue annually for capacity and new products including Avinya premium EV platform on JLR's EMA architecture. FCF remains strong at ₹9,186 crore in FY26 with ₹13,500 crore net cash.
- Aggressive EV discounts boost demand Aug 20
August discounts of up to ₹3.5L on Curvv EV and ₹1.45L on Punch EV driving volumes ahead of festive season, supporting the 114% YoY EV sales growth seen in July.
- NCLT amalgamation notices issued Sep 9
Tata Motors issued notices to shareholders and creditors for NCLT-approved amalgamation of TMF Holdings and TMF Business Services.
- TATA.CARS brand identity launched Aug 27
TMPV implemented TATA.CARS as its new consumer-facing brand across dealerships and digital platforms, with Ambition Blue color and Parallel Pathways design philosophy.
- 89,048 ESOP shares allotted Sep 7
Allotted 89,048 equity shares under ESOP on Sep 7, increasing paid-up capital to ₹7,36,55,78,704 divided into 3,68,27,89,352 shares of ₹2 each.
- Multiple analyst meets scheduled Sep 4
Investor and analyst meetings scheduled for Sep 2, Sep 10, and Sep 22 to discuss company plans with major AMCs, insurers, and pension funds.
- JLR UK sales dip in August Sep 4
JLR UK sales fell to 2,196 units in August from 2,284 units YoY. Range Rover Electric orders opened at £150,000+ with 600km range.
- India EV market grows 24% YoY Aug 29
India EV registrations reached 242,191 units in 8 months, already surpassing full FY25 total of 195,802 units. Tata remains market leader.
- Sustainability key for global access Sep 2
Tata Motors PV executive highlighted sustainability as essential for global market access, with large-scale workforce upskilling needed as automotive technology advances.
TL;DR: Tata Motors CV division is firing on all cylinders with 49% sales growth and the transformative €3.82B Iveco acquisition cleared, while PV market share gains and EV leadership (40%+ share) show strong domestic execution. However, JLR remains the key drag with a 69% profit collapse, cyberattack fallout, Chinese competition, and US tariff headwinds causing an 80% consolidated profit decline in Q1 FY27. The near-term outlook hinges on JLR's £1.7B cost-cutting execution, Iveco integration risk on a leveraged balance sheet, and whether festive season demand can offset persistent commodity inflation pressuring PV margins.
Quarterly Results
| Particulars | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 17,535 | 18,819 | 21,863 | 17,324 | 18,585 | 21,847 | 26,098 | 20,667 |
| Expenses | 15,828 | 16,786 | 19,432 | 15,248 | 16,553 | 19,260 | 22,771 | 17,395 |
| Operating Profit | 1,707 | 2,033 | 2,431 | 2,076 | 2,032 | 2,587 | 3,327 | 3,272 |
| OPM % | 10% | 11% | 11% | 12% | 11% | 12% | 13% | 16% |
| Other Income | 206 | 407 | 72 | 332 | -1,865 | -981 | -28 | 341 |
| Interest | 408 | 352 | 319 | 254 | 256 | 198 | 166 | 135 |
| Depreciation | 541 | 557 | 592 | 480 | 472 | 483 | 510 | 508 |
| PBT | 964 | 1,531 | 1,592 | 1,674 | -561 | 925 | 2,623 | 2,970 |
| Tax % | 48% | 12% | 16% | 17% | 55% | 24% | 32% | 14% |
| Net Profit | 498 | 1,355 | 1,340 | 1,397 | -867 | 705 | 1,793 | 2,556 |
| EPS in Rs | — | — | — | — | — | 1.91 | 4.87 | 6.95 |
Profit & Loss
| Particulars | Mar 2025 10m | Mar 2026 | TTM |
|---|---|---|---|
| Sales | 58,217 | 83,855 | 87,197 |
| Expenses | 52,045 | 76,238 | 75,979 |
| Operating Profit | 6,172 | 7,617 | 11,218 |
| OPM % | 11% | 9% | 13% |
| Other Income | 685 | -135 | -2,533 |
| Interest | 1,079 | 874 | 755 |
| Depreciation | 1,690 | 1,945 | 1,973 |
| PBT | 4,088 | 4,663 | 5,957 |
| Tax % | 22% | 35% | — |
| Net Profit | 3,195 | 3,030 | 4,187 |
| EPS in Rs | — | 8.23 | — |
| Div. Payout % | 0% | 49% | — |
Balance Sheet
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Equity Capital | 0 | 736 |
| Reserves | 10,533 | 11,998 |
| Borrowings | 9,925 | 5,615 |
| Other Liabilities | 26,393 | 33,960 |
| Total Liabilities | 46,851 | 52,309 |
| Fixed Assets | 13,664 | 13,962 |
| CWIP | 1,875 | 2,026 |
| Investments | 5,282 | 13,283 |
| Other Assets | 26,030 | 23,038 |
| Total Assets | 46,851 | 52,309 |
Cash Flow
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | 8,547 | 14,981 |
| Investing | 456 | -3,892 |
| Financing | -7,970 | -5,223 |
| Net Cash Flow | 1,033 | 5,866 |
| Free Cash Flow | 7,005 | 12,878 |
| CFO/OP | 139 | 209 |
Ratios
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Debtor Days | 19 | 12 |
| Inventory Days | 43 | 35 |
| Days Payable | 134 | 101 |
| Cash Conversion Cycle | -72 | -54 |
| Working Capital Days | -44 | -89 |
| ROCE % | — | 36% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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49 extracted metrics + investor summaries across FY23–FY26.
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Company Information
Founded in 1945, Tata Motors Ltd is one of India's largest automobile manufacturers and a part of the Tata Group.[1]
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