Tata Motors Passenger Vehicles Ltd reported total sales of 59,790 units in May 2026, a 42% increase from 42,040 units in the same period last year. The company maintained its position as the No. 2 player in the passenger vehicle market based on VAHAN registrations, with domestic sales driving the bulk of the growth. Electric vehicle (EV) sales reached a new monthly high of 10,517 units, surging 85% year-on-year. This information was disclosed to the exchanges on June 1, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sales Performance

The domestic market remained the primary growth engine, with sales rising 42% to 59,090 units from 41,557 units in May 2025. International business sales grew 45% to 700 units compared to 483 units in the prior year. The company highlighted that VAHAN registrations surged over 50% year-on-year, indicating robust retail demand alongside wholesale growth.

Electric Vehicle Momentum

The company's electric mobility segment continued to accelerate, with EV sales (including domestic and international business) reaching 10,517 units in May 2026. This figure represents an 85% jump from 5,685 units sold in May 2025. The sales include figures from Tata Passenger Electric Mobility Limited, a subsidiary of Tata Motors Passenger Vehicles Ltd.

Corporate Background

Tata Motors Passenger Vehicles Ltd is part of the USD 180 billion Tata Group and operates as one of India's leading automobile manufacturers. The company changed its name from Tata Motors Limited to Tata Motors Passenger Vehicles Limited effective October 13, 2025, following a Composite Scheme of Arrangement sanctioned by the National Company Law Tribunal, Mumbai Bench. Its equity shares are listed on BSE Ltd and NSE Ltd.

Tata Motors has fixed Friday, June 12, 2026, as the record date to determine shareholder eligibility for a final dividend of ₹4.00 per equity share for the financial year ended March 31, 2026. The dividend, recommended by the Board at its meeting on May 13, 2026, translates to a 200% payout on the face value of ₹2 and is subject to shareholder approval at the 2nd Annual General Meeting scheduled for June 29, 2026. Upon approval, the dividend will be paid on or before Thursday, July 2, 2026, after the deduction of tax at source as applicable under the Income Tax Act, 2025.

The company has detailed the tax deduction norms, noting that dividend is taxable in the hands of shareholders. For resident shareholders with a valid Permanent Account Number (PAN), tax will be deducted at 10%, while those without a valid PAN or with non-operative PAN due to non-linkage with Aadhaar will face a 20% deduction. Resident individuals are exempt from tax deduction if the total dividend does not exceed ₹10,000 or if they furnish Form 121. Non-resident shareholders will face a withholding tax of 20%, plus surcharge and cess, unless they provide a valid Tax Residency Certificate and other documents to claim benefits under Double Tax Avoidance Agreements.

Shareholders must submit relevant documents, such as Form 121 or declarations for lower withholding, on or before Monday, June 15, 2026, to ensure appropriate tax deduction. The company has specified that documents received after the cut-off period may not be accepted. Additionally, shareholders holding shares in physical form must ensure their bank details, PAN, and nomination details are updated to facilitate electronic payment, as mandated by SEBI regulations effective from April 1, 2024.

Key Dividend Details