Tata Motors Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1.46L Cr
- P/E
- 19.65
- ROE
- 34.02%
- Price to sales
- 1.66
- Debt to equity
- 0.44
- 52W high / low
- ₹505 / ₹318
- EBITDA margin
- 12.87%
- Net profit margin
- 4.72%
- Promoter holding
- 42.56%
- Sales (last year)
- ₹87,197 Cr
Guidance scorecard · Q2 FY27 call
What Tata Motors Ltd's management guided
and where it ranks in Agricultural, Commercial & Construction Vehicles
Agricultural, Commercial & Construction Vehicles
RevenueQ1 FY27 call
10–20%- Expectation of healthy double-digit YoY growth continuing into Q2 FY27, building on strong Q1 performance.
- Full-year double-digit domestic CV growth anticipated, subject to market dynamics post-September comparisons.
- Indonesia export order (70,000 units) to be supplied over FY27 and FY28, ramping up volumes significantly.
- Positive demand outlook for electric vehicles, including strong orders for electric buses (850+ units) and SCV EVs, with improving financing confidence.
- Growth supported by new product launches such as MY26 portfolio, higher payload trucks, and expanded EV offerings (Ace Gold+ XL, Intra V40, Intra EV).
2 more points from Tata Motors Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Tata Motors Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Q1 FY27 investment spending was ₹515 crore (~2.7% of revenue), within the guided 2-4% range.
- Capex in Q1 was ₹554 crore, lower than ₹639 crore in Q1 FY26.
- Investment increased in Freight Tiger acquisition (additional 18.1% stake for ₹96 crore in May 2026), now a subsidiary.
- Strategic focus on integrating FleetEdge and Freight Tiger for a comprehensive digital logistics ecosystem.
- Supply chain debottlenecking actions underway to improve part availability amid high demand.
2 more points from Tata Motors Ltd's call on capex
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FundraisingQ1 FY27 call
See what Tata Motors Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Tata Motors currently has around 4,500 government orders for CV passenger vehicles to be delivered during the ongoing quarter.
- There are 850 electric bus orders on hand, from both private customers and government tenders across Chennai, Ahmedabad, Hyderabad, and Odisha.
- The company has an Indonesia order of 70,000 units (Yodha and Ultra T.7 models), which will be supplied over FY27 and FY28.
- Newer tenders for electric buses under the PM-eBus Sewa scheme are underway, indicating potential additional orders.
2 more points from Tata Motors Ltd's call on the order book
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Ranges 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 Agricultural, Commercial & Construction Vehicles
on management's own guidance
- BEML LtdGood growth2
- TILGood growth1
- Indo Farm Equip.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Agricultural, Commercial & Construction Vehicles companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | TIL | 20–40% | Up 2%+ | ₹1,894 Cr | — |
| 2 | BEML Ltd | 20–40% | Flat | ₹16,396 Cr | 91.9 |
| 3 | Indo Farm Equip. | 20–40% | Flat | ₹630 Cr | 25.3 |
| 4 | 20–40% | Flat | ₹38 Cr | 6.2 | |
| 5 | Tata MotorsThis stock | 10–20% | Flat | ₹1.55L Cr | 20.9 |
| 6 | 10–20% | Flat | ₹87,468 Cr | 23.5 |
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Pro shows every company guiding 40%+ revenue growth →Full Agricultural, Commercial & Construction Vehicles rankingTata Motors Ltd announcements
All announcements →- Acquisition / mergerNotableTata Motors completes initial settlement of tender offer for Iveco Group
- Financial resultsMajor developmentTata Motors reports Q2 FY27 standalone audited and consolidated unaudited results
- Acquisition / mergerNotableTata Motors files notice on Composite Scheme of Amalgamation with subsidiaries
Financials of Tata Motors Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Tata Motors Ltd
Shareholding breakup across reporting periods.
| Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|
| Promoters + | 42.56% | 42.56% | 42.56% | 42.51% |
| FIIs + | 18.29% | 19.03% | 18.58% | 19.02% |
| DIIs + | 16.91% | 17.58% | 18.19% | 18.61% |
| Government + | 0.31% | 0.31% | 0.31% | 0.05% |
| Public + | 21.91% | 20.49% | 20.34% | 19.80% |
| No. of Shareholders | 61,03,194 | 57,05,074 | 55,45,816 | 53,14,442 |
Financials of Tata Motors Ltd
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 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 17,535 | 18,819 | 21,863 | 17,324 | 18,585 | 21,847 | 26,098 | 20,667 | 25,338 |
| Expenses + | 15,828 | 16,786 | 19,432 | 15,248 | 16,553 | 19,260 | 22,771 | 18,530 | 22,690 |
| Operating Profit | 1,707 | 2,033 | 2,431 | 2,076 | 2,032 | 2,587 | 3,327 | 2,137 | 2,648 |
| OPM % | 10% | 11% | 11% | 12% | 11% | 12% | 13% | 10% | 10% |
| Other Income + | 206 | 407 | 72 | 332 | -1,865 | -981 | -28 | 1,476 | -11 |
| Interest | 408 | 352 | 319 | 254 | 256 | 198 | 166 | 135 | 100 |
| Depreciation | 541 | 557 | 592 | 480 | 472 | 483 | 510 | 508 | 539 |
| Profit before tax | 964 | 1,531 | 1,592 | 1,674 | -561 | 925 | 2,623 | 2,970 | 1,998 |
| Tax % | 48% | 12% | 16% | 17% | 55% | 24% | 32% | 14% | 37% |
| Net Profit + | 498 | 1,355 | 1,340 | 1,397 | -867 | 705 | 1,793 | 2,556 | 1,254 |
| EPS in Rs | 1.91 | 4.87 | 6.95 | 3.41 |
Financials of Tata Motors Ltd
Profit & Loss
Annual income statement trend
| Mar 2025 10m | Mar 2026 | TTM | |
|---|---|---|---|
| Sales + | 58,217 | 83,855 | 93,950 |
| Expenses + | 52,045 | 76,238 | 83,251 |
| Operating Profit | 6,172 | 7,617 | 10,699 |
| OPM % | 11% | 9% | 11% |
| Other Income + | 685 | -135 | 456 |
| Interest | 1,079 | 874 | 599 |
| Depreciation | 1,690 | 1,945 | 2,040 |
| Profit before tax | 4,088 | 4,663 | 8,516 |
| Tax % | 22% | 35% | |
| Net Profit + | 3,195 | 3,030 | 6,308 |
| EPS in Rs | 8.23 | 17.14 | |
| Dividend Payout % | 0% | 49% |
Financials of Tata Motors Ltd
Balance Sheet
Capital structure and asset base
| Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|
| Equity Capital | 0.00 | 736 | 737 |
| Reserves | 10,533 | 11,998 | 14,551 |
| Borrowings + | 9,925 | 5,615 | 3,780 |
| Other Liabilities + | 26,393 | 33,960 | 38,385 |
| Total Liabilities | 46,851 | 52,309 | 57,453 |
| Fixed Assets + | 13,664 | 13,962 | 15,966 |
| CWIP | 1,875 | 2,026 | 674 |
| Investments | 5,282 | 13,283 | 12,467 |
| Other Assets + | 26,030 | 23,038 | 28,346 |
| Total Assets | 46,851 | 52,309 | 57,453 |
Financials of Tata Motors Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2025 | Mar 2026 | |
|---|---|---|
| Cash from Operating Activity + | 8,547 | 14,981 |
| Cash from Investing Activity + | 456 | -3,892 |
| Cash from Financing Activity + | -7,970 | -5,223 |
| Net Cash Flow | 1,033 | 5,866 |
| Free Cash Flow | 7,005 | 12,878 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 139% | 209% |
Financials of Tata Motors Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2025 | Mar 2026 | |
|---|---|---|
| Debtor Days | 19 | 12 |
| Inventory Days | 43 | 35 |
| Days Payable | 134 | 101 |
| Cash Conversion Cycle | -72 | -54 |
| Working Capital Days | -44 | -89 |
| ROCE % | 36% |
Guidance history
How Tata Motors Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Tata Motors Ltd's management said in earlier quarters
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