Tata Motors Limited (formerly TML Commercial Vehicles Limited) Wednesday reported a 69.6% year-on-year rise in standalone net profit to Rs 2,406 crore for the March quarter of FY26, driven by strong growth in its commercial vehicles (CV) business. The company had posted a profit of Rs 1,419 crore in the corresponding quarter last year.
Revenue from operations during the quarter rose 22.3% year-on-year to Rs 24,452 crore, compared to Rs 19,999 crore in Q4 FY25. Sequentially, revenue was up nearly 20% from Rs 20,404 crore reported in the December quarter.
Ebitda for the quarter increased 35% to Rs 3,400 crore, while Ebitda margins improved 130 basis points year-on-year to 13.9%. The company also outperformed Bloomberg estimates, which had pegged revenue at Rs 23,971 crore and net profit at Rs 2,056 crore.
Tata Motors said its commercial vehicles business delivered its strongest-ever quarterly and annual performance, with revenues, margins and free cash flows reaching record highs.
Record-Breaking Performance
CV wholesale volumes for Q4 FY26 stood at 1.32 lakh units, up 25% year-on-year, while full-year volumes rose 14% to 4.28 lakh units. Domestic volumes grew 12%, while exports surged 54% during the quarter.
The company’s domestic commercial vehicle market share for FY26 stood at 35.7%. In individual segments, heavy commercial vehicle market share was 55%, intermediate and light commercial vehicles stood at 39.5%, small commercial vehicles at 26.8%, and passenger carriers at 36.4%. For the full year FY26, Tata Motors reported an 11% rise in revenue to Rs 77,399 crore. However, annual net profit declined 3.4% year-on-year to Rs 3,362 crore.
Strategic Expansion
During the year, Tata Motors launched 17 next-generation trucks and the Ace Pro mini-truck range. The company also secured an order for 70,000 Yodha and Ultra T.7 vehicles for deployment in Indonesia.
Girish Wagh, Managing Director and CEO, said FY26 marked an inflection point for the commercial vehicles industry, supported by infrastructure spending and GST reforms, though geopolitical uncertainties could moderate near-term demand. CFO GV Ramanan said commodity cost pressures remain a challenge, but the company remains confident of sustaining profitability through operational efficiencies and pricing discipline.