Tata Motors reported a 31.7% decline in consolidated net profit to Rs 5,783 crore for the quarter ended March 31, 2026, weighed down by higher raw material costs and continued pressure at luxury vehicle arm Jaguar Land Rover (JLR). Revenue from operations rose 7.2% year-on-year to Rs 1.05 lakh crore.
The company’s revenue came in below Bloomberg estimates of Rs 1.09 lakh crore, while consolidated EBITDA of Rs 13,900 crore was significantly ahead of street estimates of Rs 8,987 crore. Net profit also exceeded Bloomberg estimates of Rs 4,351 crore. Tata Motors had posted a consolidated net profit of Rs 8,470 crore in the corresponding quarter last year.
Consolidated EBIT stood at Rs 8,900 crore during the quarter. The company said profitability improved sequentially as production at JLR normalised following a cyber incident, while domestic passenger vehicle volumes touched record highs.
Tata Motors Passenger Vehicles reported revenue of Rs 18,700 crore in Q4 FY26, up 49% YoY, while quarterly passenger vehicle and EV volumes rose 37% to 201,800 units. EBITDA margin improved 150 basis points to 9.4%. For FY26, Tata PV revenue rose 20.7% to Rs 58,500 crore. The company reported profit before tax and exceptional items of Rs 1,400 crore for the year.
Domestic Dominance
“FY26 has been a landmark year for the company, marked by multiple defining milestones. We achieved our highest ever annual sales of over 6.4 lakh units, delivering industry-beating growth of 15% YoY and emerging as the #2 ranked player in H2 FY26,” said Shailesh Chandra, Managing Director and CEO, Tata Motors Passenger Vehicles.
Tata PV said its Vahan market share improved to 14.2% in Q4 FY26 and 13.6% for the full year. The company maintained leadership in electric vehicles with a 40.2% EV market share during FY26. EV penetration in Tata’s portfolio stood at 14%, while CNG vehicles accounted for 27% of annual sales. The automaker crossed cumulative EV sales of 250,000 units during the year, while annual EV volumes grew 43% to more than 92,000 units.
“In electric vehicles, we further reinforced our leadership position, resulting in robust 43% year-on-year growth and our highest ever annual EV volumes of over 92,000 units,” Chandra added.
JLR Recovery
JLR reported revenue of £6.9 billion in Q4 FY26, down 11.1% year-on-year, while quarterly profit before tax and exceptional items fell 47.7% to £458 million. For FY26, JLR revenue declined 20.9% to £22.9 billion and the company reported a net loss of £244 million compared with a profit in FY25.
Tata Motors attributed the weakness to higher US tariffs, weak China demand, commodity inflation and disruption caused by the cyber incident. The planned wind-down of outgoing Jaguar models ahead of the new Jaguar electric model launch also impacted performance.
Despite geopolitical uncertainties, Tata Motors said domestic demand remains healthy across SUVs, EVs and CNG vehicles. Chandra said demand in April and May remained strong despite geopolitical tensions. “No changes in long term product plans due to geopolitical tensions, growth in FY27 can still be around 10 percent broadly,” he said.