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Tata Motors Limited (TMCV) · mywealthgrid

Tata Motors Limited

NSE:TMCV BSE:TMCV

IndustrialsAgricultural, Commercial & Construction VehiclesNIFTY NEXT 50 +4 tatamotors.com· Mumbai

₹415.5

-1.46%1 Oct close

Mkt cap

₹1,53,008 Cr

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About

Tata Motors manufactures Commercial Vehicles in Industrials sector with ₹1,74,660.98 Cr market cap. ROE 23.96% reflects capital efficiency across agriculture, construction, commercial vehicle segments.

Founded: 1945
Face value: ₹2

Market cap

₹1,53,008 Cr

P/E

36.5×

P/B

12.0×

Dividend yield

ROE

24%

ROCE

31.3%

Debt / equity

0.38

OPM

9.1%

EPS (TTM)

₹11.4

Book value

₹34.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression: OPM fell to 0.09% Sep 2025 from 12.32% prior quarter. Verify root cause — cost shock, demand drop, or capacity utilization.

PE 41.68 elevated for CV sector; assumes margin recovery sustains. If Sep 2025 shocks recur or clear slowly, significant revaluation risk.

Quarterly volatility: Revenues ₹16,861–₹26,098 Cr; profits ranged -₹1,021 to +₹2,556 Cr (Sep–Dec 2025 losses). Verify cycle position via order books, registrations, capex.

D/E 0.38 moderate but working capital sensitive in cyclical business. Verify near-term capex and inventory cycles vs. liquidity headroom.

Generated analysis · source review pending

Growth drivers

ROE 23.96% sustains dividend (Jun 2026 payout) and reinvestment-led growth if maintained.

OPM recovered 0.09% (Sep 2025) → 15.83% (Jun 2026) across recent quarters. Verify driver (volume, cost deflation, pricing) and momentum persistence.

Dividend Jun 2026 signals cash confidence; verify sustainability against CV demand recovery and cost trends.

D/E 0.38 preserves debt capacity for capex if company pursues segment expansion or capacity growth in high-demand CV categories.

Generated analysis · source review pending

217 historical price candles were omitted because the exchange source has not been verified.

₹415.5-3.4%1Y

Quick read

rule-based

Pros

+Strong return on equity of 24% (3-yr avg)
+High return on capital employed of 31.3%
+Dividend payout of 35.1% of profit

Cons

−Trading at 12× book value

Research score

Structured signal from quality, growth, valuation and momentum.

46/100

Business quality: 61
Valuation: 30

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY NEXT 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Tata Motors LimitedTMCVTMCV	₹1,53,008 Cr	₹1,57,825 Cr	₹87,197 Cr	₹8,812 Cr	9.1%	₹4,191 Cr	3.6%	31.3%	24%	-54
Ashok Leyland LimitedASHOKLEYASHOKLEY	₹88,390 Cr	₹1,52,326 Cr	₹57,723 Cr	₹10,982 Cr	19.1%	₹3,476 Cr	6.6%	16.6%	26.2%	-30
Sml Mahindra LimitedSMLMAHSMLMAH	₹9,064 Cr	₹9,344 Cr	₹2,950 Cr	₹273 Cr	9.8%	₹156 Cr	5.6%	41.4%	35.4%	78
Keto Motors LtdKETOMOTORSKETOMOTORS	₹1,753 Cr	₹1,791 Cr	₹2 Cr	₹1 Cr	23.9%	₹-0 Cr	-8.5%	-0.3%	-0.5%	5,652
Atul Auto LimitedATULAUTOATULAUTO	₹1,181 Cr	₹1,326 Cr	₹890 Cr	₹91 Cr	10.2%	₹47 Cr	5.2%	12.6%	9.1%	38

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2026
Revenue	83,855
COGS	56,732
Gross profit	27,123
	19,337
	7,786
OPM %	9.3%
Depreciation	1,945
Interest	874
	-304
Profit before tax	4,663
Tax	1,633
Tax %	35%
PAT	3,030
PAT margin %	3.6%
EPS (₹)	8.2
EPS adjusted (₹)	8.3
	48.6%
Annual report	Annual report for Mar 2026

₹ Cr	Mar 2026
Equity capital	736
Reserves	11,998
	4,817
	34,758
Total equity & liabilities	52,309
	13,962
CWIP	712
Investments	13,283
	24,352
Total assets	52,309

₹ Cr	Mar 2025	Mar 2026
	8,547	14,981
	-3,884	-3,451
	-7,970	-6,090
Net cash flow	-3,307	5,440
Free cash flow	—	13,660
CFO / Operating profit %	—	196.7%

Return on equity

7 years: —
5 years: —
3 years: —
Last year: 24%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Commercial Vehicle	82,611	8,727	36,635	32,876	3,759	232.16
Others	968	135

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2026
Margins
Gross margin %	32.3%
EBITDA margin %	9.1%
EBIT margin %	6.8%
PAT margin %	3.6%
Working capital
Receivable days	12
Inventory days	35
Payable days	101
NWC days	-54
Leverage
Current ratio	0.76
Debt to EBITDA	0.63
Debt to equity	0.38
Interest coverage	7.8
Asset turnover	1.6
Return ratios
Return on assets %	5.8%
Return on capital employed %	31.3%
Return on equity %	23.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	42.56%	42.56%	42.56%	42.56%
	17.82%	18.29%	19.03%	18.58%
	15.96%	16.91%	17.58%	18.19%
	0.31%	0.31%	0.31%	0.31%
	23.35%	21.93%	20.52%	20.36%
No. of shareholders	66,47,799	61,03,194	57,05,074	55,45,816

Promoter holding up 0 percentage points since Sep 2025.

8 deals · 20 Jan 2026 – 18 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
18 Sept 2026	BOFA SECURITIES EUROPE SA	Block	NSE	Buy	7,06,512	₹438.00	₹30.95 Cr
18 Sept 2026	BANK OF AMERICA NATIONAL ASSOCIATION	Block	NSE	Sell	7,06,512	₹438.00	₹30.95 Cr
4 May 2026	GOLDMAN SACHS BANK EUROPE SE	Block	BSE	Sell	7,18,034	₹405.80	₹29.14 Cr
4 May 2026	BNP PARIBAS FINANCIAL MARKETS	Block	BSE	Buy	7,18,034	₹405.80	₹29.14 Cr
18 Mar 2026	CITIGROUP GLOBAL MARKETS SINGAPORE PTE LIMITED	Block	NSE	Buy	10,51,591	₹450.00	₹47.32 Cr
18 Mar 2026	CITIGROUP GLOBAL MARKETS MAURITIUS PVT LTD	Block	NSE	Sell	10,51,591	₹450.00	₹47.32 Cr
20 Jan 2026	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Sell	35,43,080	₹429.30	₹152.10 Cr
20 Jan 2026	BNP PARIBAS FINANCIAL MARKETS	Block	NSE	Buy	35,43,080	₹429.30	₹152.10 Cr

1–8 of 8

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Chandrasekaran NatarajanNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Al-Noor RamjiNon-Executive - Independent Director
Mr. Bharat Tilakraj PuriNon-Executive - Independent Director
Mr. Pathamadai Balachandran BalajiNon-Executive - Non Independent Director
Mr. Kosaraju Veerayya ChowdaryNon-Executive - Independent Director
Ms. Varsha Vasant PurandareNon-Executive - Independent Director
Mr. Guenter Karl ButschekNon-Executive - Independent Director
Mr. Girish Arun WaghExecutive Director
Mr. Ranjan KumarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

147

across 20 fund houses

Held by these funds

7.14%

of the company's equity

All mutual funds

11.28%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

147 schemes · 20 fund houses

		Shares
Large Cap Fund	SBI Mutual Fund	3.8 Cr	1,790.18	3.25%	1.032%	-0
Large and Midcap Fund	SBI Mutual Fund	2.13 Cr	1,004.98	2.37%	0.579%	-0
India Opportunities Fund	ICICI Prudential Mutual Fund	2.11 Cr	992.53	2.59%	0.572%	-0
Value Fund	ICICI Prudential Mutual Fund	1.94 Cr	916.24	1.53%	0.528%	-30.1 L
Contra Fund	SBI Mutual Fund	1.24 Cr	583.9	1.23%	0.337%	-0
Large Cap Fund	ICICI Prudential Mutual Fund	1.19 Cr	562.47	0.7%	0.324%	-17 L
Balanced Advantage Fund	SBI Mutual Fund	1.06 Cr	497.82	1.19%	0.287%	-0
ELSS- Tax Saver Fund	Axis Mutual Fund	90.47 L	426.21	1.3%	0.246%	+7.69 L

1–8 of 147

1 / 19

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results23 Oct 2026 · in 22 daysresults

1

Final dividend12 Jun 2026 · ex-date₹4

2

Board meeting to consider results23 Oct 2026
Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

25 announcementsExport CSV

1 Oct 2026, 1:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

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Ratio	Mar 2026
Margins
Gross margin %	32.3%
EBITDA margin %	9.1%
EBIT margin %	6.8%
PAT margin %	3.6%
Working capital
Receivable days	12
Inventory days	35
Payable days	101
NWC days	-54
Leverage
Current ratio	0.76
Debt to EBITDA	0.63
Debt to equity	0.38
Interest coverage	7.8
Asset turnover	1.6
Return ratios
Return on assets %	5.8%
Return on capital employed %	31.3%
Return on equity %	23.8%

Date	Category	Subject	Filing
1 Oct 2026, 1:38 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
28 Sept 2026, 10:33 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF
21 Sept 2026, 6:40 pm	Board Meeting	Board Meeting Intimation for Considering And Approving The Audited Standalone Financial Results And Unaudited Consolidated Financial Results (With Limited Review) For The Second Quarter And Half Year Ended September 30, 2026.	PDF
21 Sept 2026, 5:08 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
17 Sept 2026, 11:54 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
9 Sept 2026, 11:16 pm	Company Update General	Notices To Shareholders And Creditors Regarding Composite Scheme Of Amalgamation Amongst Tata Motors Limited, TMF Holdings Limited And TMF Business Services Limited	PDF
9 Sept 2026, 6:03 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
7 Sept 2026, 2:17 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF

Tata Motors Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Return on equity

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

1

2

Announcements

Not in the F&O segment

1

1

2

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Return on equity

Segment results

Commercial Vehicle · revenue

Tata Motors Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Return on equity

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Upcoming and recent1

Dividends1

Board meetings2

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Upcoming and recent1

Dividends1

Board meetings2

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Return on equity

Segment results

Commercial Vehicle · revenue

1

1

2

1

1

2