{"id":178499,"date":"2026-01-30T06:33:26","date_gmt":"2026-01-30T11:33:26","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=178499"},"modified":"2026-01-30T06:33:28","modified_gmt":"2026-01-30T11:33:28","slug":"tata-motors-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/tata-motors-q3-fy26-earnings-results\/","title":{"rendered":"Tata Motors Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>Tata Motors Group is a leading global automobile manufacturer. Part of the illustrious multi-national conglomerate, the Tata group, it offers a wide and diverse portfolio of cars, sports utility vehicles, trucks, buses and defence vehicles to the world. It has operations in India, the UK, South Korea, South Africa, China, Brazil, Austria and Slovakia through a strong global network of subsidiaries, associate companies and Joint Ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.<\/p>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q3 FY26 Earnings Results<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations: \u20b921,847 crore, up 16% YoY vs \u20b918,819 crore; topline supported by strong CV volumes (wholesales 1,16,800 units, +20% YoY, domestic +18%, exports +70%) and stable demand through the festive period.<\/li>\n\n\n\n<li>EBITDA: Consolidated EBITDA margin 12.5%, up 30 bps YoY; EBIT margin 10.4%, up 100 bps YoY, reflecting operating leverage and favourable realizations despite cost headwinds and exceptional items.<\/li>\n\n\n\n<li>PAT: Consolidated PAT \u20b9705 crore, down 48% YoY vs \u20b91,355 crore, mainly due to exceptional charges of about \u20b91,643 crore related to demerger stamp duty (\u20b9962 crore), new Labour Codes (\u20b9603 crore), and acquisition expenses (\u20b982 crore); profit margin 3.23%.<\/li>\n\n\n\n<li>Other key metrics: Profit before tax <strong>before<\/strong> exceptional items \u20b92,600 crore; the company remained net cash-positive at about \u20b96,100 crore as of Dec 31, 2025, including TMF Holdings\u2019 debt netted against Tata Capital investment value; domestic CV VAHAN market share rose 100 bps QoQ to 35.5% in Q3 FY26.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary &amp; Strategic Decisions<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management highlighted that <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/32817018-58ca-4e63-b5b2-30910abd0f7e.pdf\" target=\"_blank\" rel=\"noopener\">operational performance stayed steady<\/a> with healthy revenue growth and margin expansion, and that the sharp PAT decline was purely due to one-time exceptional provisions for Labour Code implementation and demerger-related costs, not underlying business weakness.<\/li>\n\n\n\n<li>The company pointed to strong CV demand, aided by GST 2.0, infrastructure spending, and festive-season tailwinds, and expects demand to strengthen further in Q4 FY26 across most CV segments.<\/li>\n\n\n\n<li>Strategic moves: launch of 17 next-generation trucks under the \u201cBetter Always\u201d philosophy, focusing on improved safety, total cost of ownership, and emission-free mobility; continued focus on optimized portfolio, decisive pricing strategy, and deeper customer engagement to unlock demand across segments; ongoing demerger and capital-structure optimisation while staying net-cash positive.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q2 FY26 Earnings Results<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations (CV segment): around \u20b918,400 crore, up 6.6% YoY, driven by 12% YoY volume growth and continued focus on profitable growth; on a consolidated basis, revenues stood near \u20b918,600 crore, up 6% YoY.<\/li>\n\n\n\n<li>EBITDA: CV EBITDA margin 12.2%, up 150 bps YoY; consolidated EBITDA margin 11.4%, EBIT margin 8.8% (CV EBIT 9.8%, +200 bps YoY), supported by higher volumes and favourable realizations.<\/li>\n\n\n\n<li>PAT \/ PBT: CV PBT (before exceptional items) \u20b91,700 crore; consolidated profitability was impacted by about \u20b92,000 crore mark-to-market losses on recently listed Tata Capital investments, leading to consolidated PBT (before exceptional) of about \u2212\u20b9600 crore and net income around \u2212\u20b9900 crore, despite the operating strength.<\/li>\n\n\n\n<li>Other key metrics: The group still remained net cash-positive at about \u20b91,200 crore at that time, including TMF Holdings\u2019 gross debt and Tata Capital investment value; Q2 performance set a strong base operationally heading into the festive-heavy Q3 for CVs.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary Q2<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management described Q2 FY26 CV performance as \u201crobust,\u201d with double-digit volume growth, better realizations, and improved margins; reiterated focus on profitable growth rather than just volume expansion.<\/li>\n\n\n\n<li>Strategic moves: continued push on premium, feature-rich CVs, tighter cost control, and capital discipline; at group level, mark-to-market volatility from investments was acknowledged as non-core, while operational focus remains on strengthening core automotive, CV, and PV businesses.<\/li>\n<\/ul>\n\n\n\n<p>To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>&nbsp; to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tata Motors Group is a leading global automobile manufacturer. Part of the illustrious multi-national conglomerate, the Tata group, it offers a wide and diverse portfolio of cars, sports utility vehicles, trucks, buses and defence vehicles to the world. It has operations in India, the UK, South Korea, South Africa, China, Brazil, Austria and Slovakia through [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,6351],"tags":[80],"class_list":["post-178499","post","type-post","status-publish","format-standard","hentry","category-infographics","category-consumer-stocks","tag-automobile"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":169943,"url":"https:\/\/alphastreet.com\/india\/tata-motors-q1-fy26-earnings-results\/","url_meta":{"origin":178499,"position":0},"title":"Tata Motors Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"August 8, 2025","format":false,"excerpt":"Tata Motors Group is a leading global automobile manufacturer. Part of the illustrious multi-national conglomerate, the Tata group, it offers a wide and diverse portfolio of cars, sports utility vehicles, trucks, buses and defence vehicles to the world. Presenting below are its Q1 FY26 earnings results. \u00a0 Q1 FY26 Earnings\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Tata Motors Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/5-5.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/5-5.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/5-5.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/5-5.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/5-5.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/5-5.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171447,"url":"https:\/\/alphastreet.com\/india\/tata-elxsi-q2-fy26-earnings-results\/","url_meta":{"origin":178499,"position":1},"title":"Tata Elxsi Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 10, 2025","format":false,"excerpt":"Tata Elxsi is amongst the world\u2019s leading providers of design and technology services across industries including Automotive, Media, Communications and Healthcare. Tata Elxsi provides integrated services from research and strategy, to electronics and mechanical design, software development, validation and deployment, and is supported by a network of design studios, global\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Tata Elxsi Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/2.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/2.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/2.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":139194,"url":"https:\/\/alphastreet.com\/india\/tata-motors-posted-a-22-rise-in-its-net-profit-for-q3fy23\/","url_meta":{"origin":178499,"position":2},"title":"Tata motors posted a 22% rise in its net profit for Q3FY23","author":"Chirag Gupta","date":"January 25, 2023","format":false,"excerpt":"Tata Motors on January 25 reported a consolidated net profit of INR 2,957.71 crore for the quarter ended December 2022, against a loss of INR 1,516.14 crore in the same quarter last year. 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It is the second largest tea company globally and has significant market presence and leadership in many markets. 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Services Segment Revenue: \u20b910,602\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Tata Technologies Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tata-Technologies-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tata-Technologies-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tata-Technologies-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tata-Technologies-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tata-Technologies-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tata-Technologies-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/178499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=178499"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/178499\/revisions"}],"predecessor-version":[{"id":178500,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/178499\/revisions\/178500"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=178499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=178499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=178499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}