Tata Motors Passenger Vehicles Limited has filed its 81st Integrated Annual Report for the financial year 2025-26 with the stock exchanges, along with the Notice convening the 81st Annual General Meeting scheduled for Wednesday, July 8, 2026 at 10:30 a.m. (IST) via Video Conference/Other Audio-Visual Means. The report, prepared under the International Integrated Reporting Framework and GRI Standards 2021, covers both financial and non-financial performance of the Company and its subsidiaries, including Jaguar Land Rover.

Standalone Passenger Vehicles Business Performance

The India passenger vehicles business delivered its highest-ever annual sales of 6,41,586 units in FY26, growing 15% year-on-year — nearly twice the industry average. The Company emerged as the second-largest OEM in the domestic market in H2 FY26, with a market share of 14.1% based on Vahan registrations. Standalone revenues reached ₹58,465 crore, registering a 20.7% increase over FY25, with EBITDA of ₹4,061 crore at a margin of 6.9%.

The EV business sustained market leadership with a 40.2% share of India's EV industry, crossing the cumulative milestone of 2.5 lakh EV sales since inception. Key launches during the year included the Harrier.ev, new Punch.ev, and the revival of the Tata Sierra nameplate, which garnered over 70,000 bookings on Day 1.

Consolidated Financial Performance

On a consolidated basis, the Company reported revenues of ₹3,35,582 crore for FY26, down 8.3% year-on-year, impacted by headwinds at Jaguar Land Rover including a cyber incident that paused production for five weeks and incremental US tariffs on UK and EU exports. Consolidated EBITDA margin stood at 6.8% and EBIT margin at 1.1%. The Board of Directors has recommended a final dividend of ₹3 per fully paid-up equity share of ₹2 each for FY26, subject to shareholder approval, involving a cash outflow of ₹1,105 crore.

Jaguar Land Rover Performance

JLR recorded revenues of £22.9 billion in FY26, compared to £29.0 billion in FY25, a decline of 20.9% in GBP terms. Wholesale volumes (excluding CJLR) decreased to 3,07,915 units, while retail sales fell 17.8% to 3,52,389 units. The EBITDA margin contracted to 6.7% from 14.3% in FY25, and PBT (BEI) stood at £14 million against £2.5 billion in the prior year. Despite these challenges, JLR delivered a stronger Q4 FY26 with quarterly revenues of £6.9 billion, PBT of £452 million, and EBIT of 9.2%, reflecting recovery post the cyber incident.

Sustainability and ESG Highlights

The Company's sustainability performance in FY26 included renewable electricity constituting 83% of total power consumption, achieved through onsite solar installations, off-site captive wind farms, and Power Purchase Agreements. The Sanand passenger vehicle plant was certified as "Water Neutral" by CII-GBC, while all three manufacturing facilities — Sanand PV, Chikhali PV, and Sanand TPEM — achieved Zero Waste to Landfill certification. The Sanand I plant also received the GreenCo Platinum Rating from CII-GBC, becoming the first passenger vehicle plant to earn this distinction.

The Company targets 100% renewable electricity across operations by 2030 and net-zero emissions across its passenger vehicle portfolio by 2040. CSR programmes reached over 18.1 lakh beneficiaries across 105 districts, with over 52% from marginalised communities.

Demerger and Corporate Restructuring

Pursuant to the Composite Scheme of Arrangement approved by the Hon'ble NCLT vide orders dated August 25, 2025 and September 10, 2025, the commercial vehicles business was demerged into Tata Motors Limited (formerly TML Commercial Vehicles Limited) effective October 1, 2025, with an appointed date of July 1, 2025. Concurrently, erstwhile Tata Motors Passenger Vehicles Limited was amalgamated with the Company, and the Company was renamed from Tata Motors Limited to Tata Motors Passenger Vehicles Limited with effect from October 13, 2025. The Company's long-term credit ratings from CRISIL, ICRA, and CARE remained unchanged at AA+/Stable.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE155A01022/682028cbe88a4eb7.pdf

Tata Motors Passenger Vehicles has outlined a multi-pronged strategy to address margin pressures while sustaining growth momentum. The company plans to implement structural cost cuts to offset margin challenges, targeting double-digit EBITDA margins alongside an ambitious market share goal in both the domestic passenger vehicle and electric vehicle segments.

Strategic Priorities

Tata Motors Passenger Vehicles aims to achieve an 18-20% market share in the domestic passenger vehicle and EV sectors. To support this objective, the company intends to pursue profitable growth and maintain its growth momentum in H2, with a clear focus on ensuring profitability in FY27.

Key Highlights

• Tata Motors Passenger Vehicles plans structural cost cuts to offset prevailing margin challenges.
• The company targets 18-20% market share in the domestic passenger vehicle and EV sectors.
• Double-digit EBITDA margins are a stated financial objective.
• The company aims to maintain growth momentum in H2 and ensure profitable growth in FY27.

The company's strategy reflects a balanced approach—pursuing volume growth through market share expansion while simultaneously addressing cost structures to protect and improve profitability. The focus on both the conventional passenger vehicle and electric vehicle segments underscores Tata Motors Passenger Vehicles' intent to compete across the evolving domestic automotive landscape.