Tata Motors Passenger Vehicles Limited announced its audited standalone and consolidated financial results for the fourth quarter and full year ended March 31, 2026. The Board of Directors, meeting on May 14, 2026, approved the results and recommended a final dividend of ₹3 per equity share of ₹2 each (150%) for FY26, subject to shareholder approval. The company fixed July 8, 2026 as the date for its 81st Annual General Meeting, with dividend payment scheduled on or before July 14, 2026. Statutory auditor BSR & Co. LLP issued an unmodified opinion on the financial results. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has also informed the exchanges that the audio recording of the earnings conference call discussing these results is now available on the company's website.

Consolidated Financial Performance

On a consolidated basis, the company reported revenues of ₹105.4K Cr for Q4 FY26, up 7.2% versus the prior year, driven by normalised Jaguar Land Rover (JLR) production and record domestic volumes. Consolidated net profit attributable to shareholders for Q4 FY26 stood at ₹57.83B, compared to ₹84.70B in the same quarter of the prior year. Q4 EBITDA came in at ₹13.9K Cr versus ₹14.4K Cr in the prior year, with the EBITDA margin contracting to 13.1% from 14.4% year-on-year. For the full year FY26, consolidated revenues stood at ₹335.6K Cr, a decrease of 8.3% YoY. The EBITDA margin for the year was 6.8%, while the EBIT margin was 1.1%. Profit before tax (bei) was ₹2.5K Cr for FY26. Post exceptional items of ₹4.1K Cr, the profit before tax from continuing operations was ₹(1.6)K Cr. Free cash flows for Q4 FY26 were ₹11.4K Cr, and consolidated net debt stood at ₹30.7K Cr. CFO Dhiman Gupta noted that FY26 was a tale of two halves — strong domestic momentum post GST 2.0, offset by JLR headwinds including tariffs and a cyber incident — while Q4 saw significant sequential improvement as JLR operations recovered.

Jaguar Land Rover Performance

JLR's Q4 FY26 revenue was £6,870 million, down 11.1% versus the prior year, while full-year FY26 revenue was £22,911 million, down 20.9% YoY. The EBITDA margin for Q4 was 14.0% (-130 bps), and the EBIT margin was 9.2% (-150 bps). Profit before tax (bei) was £458 mn for the quarter and £14 mn for the full year. Profit after tax in the quarter was £365 mn, compared to a profit of £640 mn in the same quarter a year ago; for the full year, the loss after tax was £(244) mn compared to a profit of £1.8 bn last year. Total liquidity as of March 31, 2026 was £6.9 bn, including the undrawn £1.7 bn RCF, an undrawn £1.0 bn bridge facility, and an undrawn £1.5 bn UKEF guaranteed commercial loan. Closing cash balance was £2.8 bn with net debt of £2.6 bn and gross debt of £5.4 bn. Profitability was impacted by the planned wind-down of outgoing Jaguar models, the competitive environment in China, and ongoing US tariffs. Looking ahead, JLR plans to boost growth with new launches over the next 18 months, reduce breakeven volumes towards 300K units within two years through £1.7 bn in savings, and maintain planned investment of £18 bn over the five-year period from FY24.

Tata Passenger Vehicles — Domestic Business

The domestic Tata Passenger Vehicles business delivered a strong performance in Q4 FY26, with volumes of 201.8K units (+37.3% YoY) and quarterly revenues of ₹18.7K Cr (+49.4% YoY), outpacing the broader industry. For the full year, revenues were ₹58.5K Cr (+20.7% YoY). The EBITDA margin for Q4 was 9.4% (+150 bps), and the EBIT margin was 4.7% (+310 bps). The business reported a Free Cash Flow of ₹1.7K Cr in Q4 FY26, with a closing cash balance of ₹9.6K Cr and gross debt of ₹2.9K Cr, resulting in net cash of ₹6.7K Cr. The Vahan market share grew to 14.2% in Q4 FY26, with the overall Vahan market share at 13.6% and EV Vahan market share at 40.2% for FY26. EV penetration stood at 14% and CNG at 27% in FY26. The company surpassed 250,000 cumulative EV sales and achieved its highest ever annual sales of over 6.4 lakh units, delivering 15% YoY growth. Managing Director & CEO Shailesh Chandra highlighted the company's highest ever quarterly sales of over 200,000 units in Q4 FY26, with 43% YoY growth in EV volumes reaching over 92,000 units for the full year.

Standalone Financial Highlights

On a standalone basis, total revenue from operations for Q4 FY26 stood at ₹18,598 crore, compared to ₹12,977 crore in Q4 FY25. For the full year ended March 31, 2026, total revenue from operations was ₹57,859 crore versus ₹49,358 crore in FY25. Profit for the year (including discontinued operations) stood at ₹87,569 crore for FY26, which includes an exceptional gain on disposal of discontinued operations of ₹82,318 crore arising from the demerger of the commercial vehicles business. Standalone basic EPS from continuing operations for FY26 was ₹10.43, while basic EPS from continuing and discontinued operations was ₹14.26.

Scheme of Arrangement

The Board of Directors had approved a Composite Scheme of Arrangement on August 1, 2024, providing for the demerger of the commercial vehicles business into Tata Motors Limited and the amalgamation of Tata Motors Passenger Vehicles Limited with the company. The NCLT approved the Scheme on August 25, 2025, with an appointed date of July 1, 2025, and the Scheme became effective from October 1, 2025. Assets, liabilities, and reserves valuing ₹11,590 crore pertaining to the demerged undertaking were transferred at their respective carrying amounts. The company recognised land transfer premium, stamp duty, and legal charges of ₹398 crore as an exceptional item in connection with the Scheme. On a consolidated basis, assets, liabilities, and reserves valuing ₹11,220 crore pertaining to the Commercial Vehicle undertaking were transferred, with an exceptional gain on disposal of discontinued operations of ₹82,616 crore recognised in the consolidated results.

Earnings Call Recording

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Tata Motors Passenger Vehicles Limited informed the stock exchanges on May 14, 2026 that the audio recording of the earnings conference call on the financial results for the fourth quarter and full year ended March 31, 2026 is available on the company's website. The disclosure was signed by Maloy Kumar Gupta, Company Secretary & Chief Legal Officer.

Tata Motors Passenger Vehicles Limited has announced the schedule for its Group Investor Day events to be held in June 2026. The company will host a dedicated session for its India business in Mumbai, while its subsidiary, Jaguar Land Rover Automotive Plc, will conduct a separate event at its facility in the United Kingdom.

Tata Motors Passenger Vehicles India Investor Day

The India-focused Investor Day is scheduled for Tuesday, June 23, 2026. The event aims to provide insights into the company's domestic operations and strategic direction. Interested investors and analysts must express their intent to attend through a designated registration portal.

The deadline for submitting expressions of interest is Saturday, May 30, 2026. Due to limited seating capacity at the venue, the company will confirm registrations via email by Monday, June 15, 2026. Admission to the event is at the sole discretion of the company.

Jaguar Land Rover Investor Day

Jaguar Land Rover Automotive Plc, a wholly owned subsidiary of Tata Motors Passenger Vehicles Limited, will host its Investor Day on Wednesday, June 17, 2026. The event will take place at the company's site in Gaydon, Warwickshire. Registration for this event must be completed separately through the JLR website.

Event Details and Contacts

The company has provided specific contact details for queries regarding the two events. Presentations and recordings of both sessions will be made available on the respective company websites following the events.