Tata Motors Ltd

- Tata Motors has maintained prudent Capex spends within the guidance range of 2% to 4% of revenue. - Majority of current and planned Capex focuses on decarbonization and circularity initiatives. - The company has invested an additional ₹134 crores in Freight Tiger to accelerate AI-led freight transformation and digital logistics, bringing total investment to ₹284 crores. - For the Iveco acquisition, initial funding secured through a bridge loan; refinancing plans to balance equity and debt will be evaluated later. - Tata Motors is launching new ranges of products in FY'26 across heavy commercial vehicles and intermediate/light medium commercial vehicles to improve competitiveness. - Expansion in electric mobility with supply agreements and ecosystem growth, including public chargers in 150+ cities.

- Expect single-digit to higher single-digit growth across segments in H2 FY26, supported by positive demand momentum post-GST reduction. - Industry volumes grew 8% YoY in Q2; Tata Motors outgrew the industry across product lines with strong growth in IMCV and SCV. - Export business growing sharply (~75% YoY), driven by opening new geographies such as Sri Lanka, Middle East, and Africa. - Continued volume growth expected in MHCV and ILMCV segments; trucks’ market share rebounded strongly post-Q1. - New model launches in FY26 for heavy and medium commercial vehicles to further boost competitiveness and growth. - Electric mobility growing steadily with new EV launches (AcePro EV) and expanded market penetration. - Increasing utilization and freight demand supported by GST cuts and sectoral growth (mining, infrastructure). - Sustained focus on profitable growth, margin expansion, and operational efficiency to drive revenue and volume growth.

- Tata Motors expects sustained profitable growth with double-digit EBITDA margins and strong cash flows. - Focus on robust financial performance and strong Return on Capital Employed (ROCE) is emphasized. - Continuous margin expansion driven by higher volumes and favorable realizations. - Anticipates single-digit to higher single-digit growth across segments in H2 FY'26. - New product launches (model year '26) in heavy and medium commercial vehicles to drive competitiveness and market share. - Digital business and non-cyclical segments are expected to grow, enhancing revenue mix and margins. - Strong free cash flow generation expected to continue, reflecting operational strength and working capital discipline. - Overall positive demand outlook bolstered by GST cuts, improved fleet utilization, and increasing freight transport needs.

The provided transcript does not explicitly mention the current or expected order book or pending orders for Tata Motors Limited. However, some related insights include: - The company has won three good tenders in the recent quarter, which will help regain market share in buses for the rest of the year (Page 6-7). - Tata Motors is participating in the PM E-DRIVE tender, expected to be closed soon, through a consortium model (Page 5). - The delivery against tenders won in Q2 is expected to support market share recovery in CV Passenger segment (Page 4-5). - New product launches (model year '26) in heavy and medium commercial vehicles are planned to improve competitiveness and volume (Page 6). - Electric bus tenders won till now have been fully delivered, indicating no current pending orders in this segment (Page 4). No specific order book values or volume details were disclosed in the transcript.

- Tata Motors is in the process of acquiring Iveco and is securing the necessary regulatory approvals expected by February-March. - The initial funding for the Iveco acquisition has been secured through a bridge loan, which has been fully tied up. - Overwhelming response was received from banking partners for the bridge loan. - For refinancing the bridge loan, Tata Motors will evaluate all options, including equity and debt, and will balance them accordingly at the appropriate time. - No specific timelines or amounts for future fundraising through equity or additional debt were disclosed beyond the Iveco acquisition funding plan.