Tata Capital Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1.31L Cr
- P/E
- 24.15
- ROE
- 12.36%
- PEG
- 1.40
- Price to sales
- 4.01
- Debt to equity
- 5.15
- 52W high / low
- ₹390 / ₹296
- Sales growth (5Y)
- 26.27%
- EBITDA margin
- 74.08%
- Net profit margin
- 15.59%
- Promoter holding
- 85.41%
- Sales (last year)
- ₹32,695 Cr
Tata Capital Limited ("TCL"), the flagship financial services company of the Tata Group, is a subsidiary of Tata Sons Private Limited and is carrying on business as a NBFC. It is engaged in providing/supplying a wide array of services/products in the financial services sector and operates across various areas of business: Commercial Finance, Consumer Loans, Wealth Services and distribution and marketing of Tata Cards.[1]
Guidance scorecard · Q2 FY27 call
What Tata Capital's management guided
and where it ranks in Finance
Finance
RevenueQ1 FY27 call
20–40%- Disbursement growth is strong, with unsecured products seeing a 38% increase in Q1 FY27 versus Q1 FY26; book growth follows with about 10% overall and 17% excluding Motor Finance.
- Expectation that book growth will catch up with disbursement growth over the next 2-3 quarters, leading to increased portfolio and higher margins.
- Focus on scaling high-margin and high-yielding segments, with unsecured retail and SME expected to constitute 85%-88% of the portfolio.
- Motor Finance book, currently shrinking, expected to start growing from Q3 FY27 onwards.
- Plan to grow margins by about 10 basis points in the current year through mix optimization and price resets on incremental lending.
2 more points from Tata Capital's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Tata Capital said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Tata Capital plans to add about 500 branches over the next two and a half to three years, aiming to grow the portfolio to Rs. 4000+ crores.
- Continued investment in technology and AI-led initiatives to improve operational efficiency, customer experience, and risk management is a key strategic focus.
- Expansion of gold loan product offering is considered a strategic initiative to aid growth and margins, including scaling up branch presence in southern states and beyond.
- Branch and workforce rationalization in Motor Finance business to enhance operating efficiency is underway.
2 more points from Tata Capital's call on capex
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FundraisingQ1 FY27 call
See what Tata Capital said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
RisingAsk what Tata Capital said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Finance
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Finance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹2,742 Cr | 71.8 | |
| 2 | 40%+ | Up 2%+ | ₹464 Cr | 23.9 | |
| 3 | 40%+ | Up 0–2% | ₹961 Cr | 32.7 | |
| 4 | 40%+ | Flat | ₹1.43L Cr | 83.4 | |
| 5 | 40%+ | Flat | ₹23,820 Cr | 21.1 | |
| 6 | 40%+ | Flat | ₹16,498 Cr | 72.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Finance rankingTata Capital announcements
All announcements →- Acquisition / mergerMajor developmentTata Capital approves Q2 and H1 results; MTN programme raised to USD 3 billion
Financials of Tata Capital
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Tata Capital
Shareholding breakup across reporting periods.
| Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|
| Promoters + | 85.41% | 85.41% | 85.41% | 85.41% |
| FIIs + | 4.63% | 4.88% | 5.17% | 5.06% |
| DIIs + | 3.33% | 3.60% | 3.57% | 3.87% |
| Public + | 5.97% | 5.43% | 5.19% | 4.99% |
| Others + | 0.66% | 0.66% | 0.65% | 0.64% |
| No. of Shareholders | 14,04,334 | 12,69,833 | 12,11,911 | 11,46,736 |
Pros & Cons
Tata Capital
Key positives and risks surfaced from the company insights section.
- Stock is trading at 2.68 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 13.2% over last 3 years.
- Company might be capitalizing the interest cost
- Stock is trading at 2.68 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 13.2% over last 3 years.
- Company might be capitalizing the interest cost
Financials of Tata Capital
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue + | 7,185 | 7,104 | 7,478 | 7,665 | 7,737 | 7,976 | 8,160 | 8,822 | 9,342 |
| Interest | 3,693 | 3,836 | 3,960 | 4,066 | 3,976 | 3,928 | 4,017 | 4,370 | 4,680 |
| Expenses + | 1,915 | 1,762 | 2,072 | 2,126 | 2,135 | 2,172 | 2,026 | 2,143 | 2,130 |
| Financing Profit | 1,576 | 1,506 | 1,447 | 1,473 | 1,626 | 1,876 | 2,118 | 2,309 | 2,532 |
| Financing Margin % | 22% | 21% | 19% | 19% | 21% | 24% | 26% | 26% | 27% |
| Other Income + | 9 | 8 | 31 | 27 | 16 | -40 | 3 | 4 | 17 |
| Depreciation | 92 | 99 | 109 | 118 | 135 | 142 | 143 | 154 | 165 |
| Profit before tax | 1,494 | 1,415 | 1,368 | 1,382 | 1,507 | 1,695 | 1,978 | 2,159 | 2,384 |
| Tax % | 24% | 26% | 27% | 25% | 26% | 25% | 26% | 25% | 23% |
| Net Profit + | 1,133 | 1,050 | 1,000 | 1,041 | 1,119 | 1,265 | 1,466 | 1,628 | 1,832 |
| EPS in Rs | 2.87 | 2.87 | 2.77 | 2.48 | 2.72 | 2.96 | 3.54 | 3.65 | 3.91 |
| Gross NPA % | 0.80% | ||||||||
| Net NPA % | 0.40% |
Financials of Tata Capital
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Revenue + | 9,835 | 10,162 | 13,631 | 18,178 | 28,322 | 31,566 | 34,300 |
| Interest | 5,213 | 4,889 | 6,601 | 9,568 | 15,030 | 15,985 | 16,994 |
| Expenses + | 2,826 | 2,908 | 3,018 | 3,951 | 8,032 | 8,458 | 8,471 |
| Financing Profit | 1,797 | 2,364 | 4,013 | 4,659 | 5,261 | 7,123 | 8,835 |
| Financing Margin % | 18% | 23% | 29% | 26% | 19% | 23% | 26% |
| Other Income + | 152 | 260 | 150 | 21 | 47 | -23 | -15 |
| Depreciation | 334 | 276 | 226 | 288 | 390 | 538 | 604 |
| Profit before tax | 1,615 | 2,348 | 3,937 | 4,392 | 4,919 | 6,562 | 8,216 |
| Tax % | 23% | 23% | 25% | 24% | 26% | 25% | |
| Net Profit + | 1,245 | 1,801 | 2,946 | 3,327 | 3,655 | 4,891 | 6,191 |
| EPS in Rs | 3.20 | 4.69 | 8.51 | 8.41 | 9.64 | 11.42 | 14.06 |
| Dividend Payout % | 0% | 3% | 2% | 2% | 4% | 5% |
Financials of Tata Capital
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 3,464 | 3,463 | 3,507 | 3,703 | 3,762 | 4,217 | 4,218 |
| Reserves | 6,509 | 8,250 | 13,833 | 19,714 | 29,284 | 41,645 | 44,763 |
| Borrowing | 69,166 | 86,343 | 113,541 | 148,512 | 208,851 | 236,376 | 261,226 |
| Other Liabilities + | 3,792 | 4,319 | 4,745 | 4,765 | 6,422 | 8,266 | 9,031 |
| Total Liabilities | 82,930 | 102,376 | 135,626 | 176,694 | 248,320 | 290,504 | 319,238 |
| Fixed Assets + | 901 | 719 | 733 | 1,190 | 2,003 | 2,604 | 2,845 |
| CWIP | 8 | 11 | 20 | 8 | 16 | 33 | 4 |
| Investments | 4,653 | 7,846 | 13,254 | 8,733 | 9,866 | 9,508 | 9,550 |
| Other Assets + | 77,368 | 93,798 | 121,619 | 166,763 | 236,434 | 278,358 | 306,839 |
| Total Assets | 82,930 | 102,376 | 135,626 | 176,694 | 248,320 | 290,504 | 319,238 |
Financials of Tata Capital
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 3,137 | -14,387 | -23,190 | -37,999 | -30,088 | -37,965 |
| Cash from Investing Activity + | -2,626 | -2,614 | -2,263 | 5,758 | 3,382 | 282 |
| Cash from Financing Activity + | -2,787 | 17,056 | 26,430 | 35,952 | 29,412 | 31,848 |
| Net Cash Flow | -2,275 | 55 | 977 | 3,712 | 2,706 | -5,834 |
| Free Cash Flow | 3,131 | -14,363 | -23,337 | -38,632 | -31,109 | -38,929 |
Financials of Tata Capital
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| ROE % | 11% | 15% | 21% | 15% | 13% | 12% |
Guidance history
How Tata Capital's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Up 0–2% | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
47 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −6.6% | 54% |
| Last 6 months | −4.9% | 47% |
| Last 3 months | −14.5% | 31% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Tata Capital: 0.4 × 54 + 0.4 × 47 + 0.2 × 31 = 47.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Tata Capital's management said in earlier quarters
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