India's Most Valuable Companies 2025 edition · Source: Hurun India
- Valuation
- ₹1,25,780 Cr
- Revenue
- ₹3,62,665 Cr
Tata Motors Passenger Vehicles Limited - automotive in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Active Listed - NSE: TMPV · BSE: 500570 Public Limited Company automotive India's Most Valuable Nifty 50
Market Cap
₹99,441 Cr
TMPV · NSE
Share Price
₹264.60
-2.00% today
Revenue
₹3,35,582 Cr
FY 2025-26 · -8.3% YoY
EBITDA
₹14,228 Cr
Margin 4.2%
Net Profit
₹86,350 Cr
FY 2025-26 · +208.6% YoY
P/E (TTM)
111.0x
P/B 0.9x
ROE
75.9%
ROCE 2.3%
Debt / Equity
0.66
Interest cover -50.9x
About Tata Motors Passenger Vehicles Limited
Data last updated:
Tata Motors Passenger Vehicles Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the commercial vehicles and fleet segment of the automotive sector. It was incorporated on 01 September 1945 and has been in existence for over 81 years.
Tata Motors Passenger Vehicles is part of the Nifty 50, Nifty 500 and BSE 500 indices.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L28920MH1945PLC004520. Its GSTIN is 27AAACT2727Q1ZW (Maharashtra). The company holds 27 GST registrations, of which 21 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 500570 and NSE: TMPV.
The company has an authorised share capital of ₹24,000 Cr and a paid-up capital of ₹736.52 Cr. It was formerly known as Tata Locomotive and Engineering Company Ltd. It is led by directors including Vedika Bhandarkar and Chandrasekaran Natarajan.
Its last annual general meeting (AGM) was held on 20 June 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Bombay House 24 Homi Mody Street, Mumbai, Maharashtra, India – 400001.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹3,35,582 Cr, a decline of 8.3% compared to the previous year. For the same year it recorded a net profit of ₹86,350 Cr (net margin 25.7%) and EBITDA of ₹14,228 Cr (EBITDA margin 4.2%). The net worth stands at ₹1,12,068 Cr (down 3.5% YoY). Total assets are valued at ₹2,41,972 Cr (up 3.4% YoY).
The company has about 24,380 employees on its provident fund (EPFO) records. Its group structure includes 15 subsidiaries.
The company is associated with 3 brands: Financial Friend, Tata Motors and Jaguar. As per MCA filings, the company has open charges of ₹3,387.08 Cr and satisfied charges of ₹35,541 Cr on record. Court records list 49,745 cases involving the company, including 48,963 filed by the company and 785 filed against it; 148 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website tatamotors.com.
Company details
CIN L28920MH1945PLC004520
Registration Number 004520
Incorporation Date 01 September 1945
ROC Mumbai
Listing Status Listed - Listed on NSE (TMPV); Listed on BSE (500570)
Company Status Active
Date of Last AGM 20 June 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
Name history
Tata Motors Passenger Vehicles has undergone 2 name changes throughout its history. The company was previously known as Tata Locomotive And Engineering Company Ltd, and Tata Motors Passenger Vehicles Limited. The current legal name is Tata Motors Passenger Vehicles Limited.
| Company Name | Status |
|---|---|
| Tata Motors Passenger Vehicles Limited | Current |
| Tata Locomotive And Engineering Company Ltd | Previous |
Recognitions & Rankings of Tata Motors Passenger Vehicles
Stock market indices
Nifty 50 Nifty 500 BSE 500
Contact details
Tata Motors Passenger Vehicles Limited's registered office is in Mumbai, Maharashtra. Its website is tatamotors.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressBombay House 24 Homi Mody Street, Mumbai, Maharashtra, India – 400001
- IndustryAutomotive, Commercial Vehicles & Fleet, Passenger Vehicles
To see the full contact details of Tata Motors Passenger Vehicles Limited, buy the company report.
Comprehensive company report
Tata Motors Passenger Vehicles Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Tata Motors Passenger Vehicles operates multiple associated brands including Financial Friend, Tata Motors, and Jaguar. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers financial planning, wealth management, and investment advice services. | financialfriend.in | |
| Cars, trucks, buses, and electric vehicles are manufactured. | tatamotors.com | |
| Luxury vehicles including SUVs and saloons are manufactured by Jaguar. | jaguar.in |
Business activity
The main business activity of Tata Motors Passenger Vehicles is manufacturing. In detail, this covers motor vehicles, trailers, semi trailers and other transport vehicles.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C11 | Motor vehicles, trailers, semi trailers and other Transport Vehicles |
To see the full business activity and turnover split of Tata Motors Passenger Vehicles Limited, buy the company report.
Financials of Tata Motors Passenger Vehicles Limited
FY 2025-26 filings availableTata Motors Passenger Vehicles Limited reported revenue of ₹3,35,582 Cr (down 8.3% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹3,35,582 Cr
-8.3% YoY
EBITDA
₹14,228 Cr
-70.1% YoY
Profit After Tax
₹86,350 Cr
+208.6% YoY
Net Worth
₹1,12,068 Cr
-3.5% YoY
Total Assets
₹2,41,972 Cr
+3.4% YoY
Total Debt
₹79,109 Cr
+10.6% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,35,582 | 3,66,094 | 4,34,016 | 3,45,967 | 2,78,454 | 2,49,795 | 2,61,068 |
| Revenue growth | -8.3% | -15.7% | +25.5% | +24.3% | +11.5% | -4.3% | - |
| EBITDA | 14,228 | 47,623 | 56,224 | 31,575 | 23,980 | 17,817 | 14,977 |
| EBITDA margin | +4.2% | +13.0% | +13.0% | +9.1% | +8.6% | +7.1% | +5.7% |
| Profit before tax | 82,399 | 37,209 | 27,783 | 3,394 | (7,003) | (10,474) | (10,580) |
| Net profit | 86,350 | 27,978 | 32,171 | 2,351 | (11,278) | 2,657 | (9,867) |
| Net profit margin | +25.7% | +7.6% | +7.4% | +0.7% | -4.1% | +1.1% | -3.8% |
| EPS (₹) | 223.58 | 75.63 | 81.87 | 6.30 | (29.88) | (35.13) | (33.55) |
| Balance sheet | |||||||
| Total assets | 2,41,972 | 2,33,970 | 2,33,350 | 2,17,496 | 2,21,106 | 2,27,426 | 2,16,034 |
| Net worth | 1,12,068 | 1,16,144 | 84,918 | 45,322 | 44,561 | 55,247 | 63,079 |
| Total debt | 79,109 | 71,540 | 1,07,264 | 1,34,113 | 1,46,449 | 1,42,131 | 1,24,788 |
| Cash & bank | 29,684 | 40,834 | 45,807 | 37,016 | 40,669 | 46,792 | 33,727 |
| Net working capital | (17,945) | (10,391) | 17,968 | 14,684 | 16,313 | 13,693 | 4,581 |
| Cash flow | |||||||
| Cash from operations | 13,041 | 63,102 | 67,915 | 35,388 | 14,283 | 29,001 | 26,633 |
| Cash from investing | (23,166) | (49,982) | (22,781) | (15,417) | (4,444) | (25,672) | (33,115) |
| Cash from financing | (1,344) | (18,786) | (37,006) | (26,243) | (3,380) | 9,904 | 3,390 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 95,799 | 1,05,447 | 70,108 | 72,349 | 87,677 | 98,377 | 1,12,608 | 83,656 |
| Revenue growth (YoY) | +9.3% | +7.2% | -37.7% | -13.5% | -18.1% | - | - | - |
| Other income | 1,145 | 1,877 | 1,636 | 84,115 | 2,737 | 2,671 | 1,726 | 1,920 |
| EBITDA | 6,144 | 11,259 | (718) | (4,012) | 8,115 | 14,077 | 12,397 | 9,914 |
| EBITDA margin | +6.5% | +10.7% | -1.0% | -5.6% | +9.3% | +14.4% | +11.1% | +12.0% |
| Depreciation | 4,880 | 5,092 | 4,969 | 4,871 | 4,851 | 4,717 | 5,399 | 5,467 |
| Interest | 835 | 767 | 682 | 686 | 692 | 828 | 1,119 | 1,094 |
| Profit before tax | 1,574 | 7,277 | (4,733) | 74,546 | 5,309 | 11,203 | 7,605 | 5,273 |
| Tax | 715 | 1,399 | (1,250) | (1,702) | 1,306 | 2,647 | 2,120 | 1,752 |
| Net profit | 859 | 5,878 | (3,483) | 76,248 | 4,003 | 8,556 | 5,485 | 3,521 |
| EPS (₹) | 2.10 | 15.70 | (9.47) | (17.50) | 10.65 | 23.00 | 14.72 | 10.01 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 57,859 | 49,358 | 73,303 | 65,757 | 47,264 | 30,175 | 43,928 |
| Revenue growth | +17.2% | -32.7% | +11.5% | +39.1% | +56.6% | -31.3% | - |
| EBITDA | 2,107 | 3,009 | 6,673 | 4,248 | 1,441 | 1,047 | (3,235) |
| EBITDA margin | +3.6% | +6.1% | +9.1% | +6.5% | +3.1% | +3.5% | -7.4% |
| Profit before tax | 88,726 | 6,712 | 7,851 | 1,255 | (1,292) | (2,375) | (7,127) |
| Net profit | 88,085 | 5,900 | 5,130 | 2,986 | (1,594) | (2,163) | (4,904) |
| Net profit margin | +152.2% | +12.0% | +7.0% | +4.5% | -3.4% | -7.2% | -11.2% |
| EPS (₹) | 237.64 | 15.96 | 20.60 | 7.12 | (3.63) | (6.26) | (20.26) |
| Balance sheet | |||||||
| Total assets | 28,674 | 47,674 | 47,366 | 44,444 | 45,922 | 44,060 | 47,332 |
| Net worth | 24,960 | 33,226 | 30,143 | 22,470 | 19,944 | 19,056 | 18,388 |
| Total debt | 2,873 | 10,415 | 14,190 | 19,279 | 23,529 | 22,439 | 26,050 |
| Cash & bank | 4,466 | 4,292 | 5,151 | 1,415 | 2,605 | 4,319 | 3,532 |
| Net working capital | (3,341) | (10,753) | (5,454) | (8,919) | (7,328) | (6,457) | (2,376) |
| Cash flow | |||||||
| Cash from operations | 2,991 | 13,578 | 8,662 | 4,775 | 5,282 | 6,680 | (1,455) |
| Cash from investing | 1,391 | (10,731) | 1,492 | 917 | (4,681) | (2,988) | (4,637) |
| Cash from financing | (4,071) | (4,883) | (7,930) | (7,021) | (516) | (3,472) | 7,749 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17,535 | 18,598 | 15,268 | 12,955 | 11,038 | 12,977 | 17,040 | 12,055 |
| Revenue growth (YoY) | +58.9% | +43.3% | -10.4% | +7.5% | -34.5% | - | - | - |
| Other income | 458 | 382 | 198 | 82,650 | 6,467 | 1,608 | 306 | 938 |
| Total expenses | 17,122 | 17,539 | 15,201 | 12,448 | 10,664 | 12,187 | 15,055 | 11,306 |
| EBITDA | 413 | 1,059 | 67.00 | 507 | 374 | 790 | 1,985 | 749 |
| EBITDA margin | +2.4% | +5.7% | +0.4% | +4.0% | +3.4% | +6.1% | +11.7% | +6.2% |
| Depreciation | 696 | 734 | 725 | 636 | 637 | 734 | 497 | 634 |
| Interest | 53.00 | 77.00 | 35.00 | 65.00 | 69.00 | 53.00 | 265 | 89.00 |
| Profit before tax | 122 | 630 | (495) | 82,456 | 6,135 | 1,611 | 1,529 | 964 |
| Tax | 47.00 | 175 | (262) | 375 | 869 | 18.00 | 125 | 303 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 25 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 95,799 | 1,05,447 | 70,108 | 72,349 | 87,677 | 98,377 | 1,12,608 | 83,656 |
| Revenue growth (YoY) | +9.3% | +7.2% | -37.7% | -13.5% | -18.1% | - | - | - |
| Other income | 1,145 | 1,877 | 1,636 | 84,115 | 2,737 | 2,671 | 1,726 | 1,920 |
| EBITDA | 6,144 | 11,259 | (718) | (4,012) | 8,115 | 14,077 | 12,397 | 9,914 |
| EBITDA margin | +6.5% | +10.7% | -1.0% | -5.6% | +9.3% | +14.4% | +11.1% | +12.0% |
| Depreciation | 4,880 | 5,092 | 4,969 | 4,871 | 4,851 | 4,717 | 5,399 | 5,467 |
| Interest | 835 | 767 | 682 | 686 | 692 | 828 | 1,119 | 1,094 |
| Profit before tax | 1,574 | 7,277 | (4,733) | 74,546 | 5,309 | 11,203 | 7,605 | 5,273 |
| Tax | 715 | 1,399 | (1,250) | (1,702) | 1,306 | 2,647 | 2,120 | 1,752 |
| Net profit | 859 | 5,878 | (3,483) | 76,248 | 4,003 | 8,556 | 5,485 | 3,521 |
| EPS (₹) | 2.10 | 15.70 | (9.47) | (17.50) | 10.65 | 23.00 | 14.72 | 10.01 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,35,582 | 3,66,094 | 4,34,016 | 3,45,967 | 2,78,454 | 2,49,795 | 2,61,068 |
| Revenue growth | -8.3% | -15.7% | +25.5% | +24.3% | +11.5% | -4.3% | - |
| Other income | 90,782 | 14,589 | 6,392 | 6,904 | 3,164 | 3,353 | 3,112 |
| Total expenses | 3,21,354 | 3,18,471 | 3,77,792 | 3,14,392 | 2,54,473 | 2,31,978 | 2,46,091 |
| Employee cost | 45,150 | 42,110 | 41,990 | 33,655 | 30,809 | 27,648 | 30,439 |
| EBITDA | 14,228 | 47,623 | 56,224 | 31,575 | 23,980 | 17,817 | 14,977 |
| EBITDA margin | +4.2% | +13.0% | +13.0% | +9.1% | +8.6% | +7.1% | +5.7% |
| Depreciation | 19,784 | 21,102 | 27,239 | 24,860 | 24,836 | 23,547 | 21,425 |
| Interest | 2,827 | 3,901 | 7,594 | 10,225 | 9,312 | 8,097 | 7,243 |
| Profit before tax | 82,399 | 37,209 | 27,783 | 3,394 | (7,003) | (10,474) | (10,580) |
| Tax | (246) | 9,060 | (4,024) | 704 | 4,231 | 2,542 | 395 |
| Net profit | 86,350 | 27,978 | 32,171 | 2,351 | (11,278) | 2,657 | (9,867) |
| Net profit margin | +25.7% | +7.6% | +7.4% | +0.7% | -4.1% | +1.1% | -3.8% |
| EPS (₹) | 223.58 | 75.63 | 81.87 | 6.30 | (29.88) | (35.13) | (33.55) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 737 | 736 | 767 | 766 | 766 | 766 | 720 |
| Reserves & surplus | 1,11,331 | 1,15,407 | 81,788 | 41,746 | 43,795 | 54,481 | 61,491 |
| Shareholders' funds (net worth) | 1,12,068 | 1,16,144 | 84,918 | 45,322 | 44,561 | 55,247 | 63,079 |
| Minority interest | 6,774 | 6,610 | 8,176 | 7,278 | 4,271 | 1,573 | 814 |
| Secured loans | 17,111 | 7,867 | 28,950 | 30,262 | 27,677 | 32,644 | 25,966 |
| Unsecured loans | 61,998 | 63,673 | 78,314 | 1,03,852 | 1,18,772 | 1,09,487 | 98,822 |
| Total debt | 79,109 | 71,540 | 1,07,264 | 1,34,113 | 1,46,449 | 1,42,131 | 1,24,788 |
| Total liabilities | 2,41,972 | 2,33,970 | 2,33,350 | 2,17,496 | 2,21,106 | 2,27,426 | 2,16,034 |
| Assets | |||||||
| Gross block | 3,14,342 | 3,20,000 | 3,34,479 | 3,31,141 | 3,24,096 | 3,13,692 | 2,70,579 |
| Net block | 1,04,656 | 1,15,697 | 1,21,285 | 1,32,080 | 1,38,855 | 1,38,708 | 1,27,107 |
| Capital work in progress | 1,02,654 | 65,806 | 35,698 | 14,274 | 10,251 | 20,964 | 35,622 |
| Investments | 26,313 | 35,656 | 22,971 | 26,379 | 29,380 | 24,620 | 16,308 |
| Inventories | 50,126 | 47,269 | 47,788 | 40,755 | 35,240 | 36,089 | 37,457 |
| Sundry debtors | 12,619 | 13,248 | 16,952 | 15,738 | 12,442 | 12,679 | 11,173 |
| Cash & bank balances | 29,684 | 40,834 | 45,807 | 37,016 | 40,669 | 46,792 | 33,727 |
| Loans & advances | 26,843 | 31,261 | 43,592 | 38,353 | 35,917 | 32,276 | 26,369 |
| Total current assets | 1,19,272 | 1,32,612 | 1,54,139 | 1,31,862 | 1,24,268 | 1,27,836 | 1,08,726 |
| Total current liabilities | 1,37,217 | 1,43,003 | 1,36,171 | 1,17,178 | 1,07,955 | 1,14,143 | 1,04,145 |
| Net working capital | (17,945) | (10,391) | 17,968 | 14,684 | 16,313 | 13,693 | 4,581 |
| Total assets | 2,41,972 | 2,33,970 | 2,33,350 | 2,17,496 | 2,21,106 | 2,27,426 | 2,16,034 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 34,349 | 40,015 | 31,887 | 38,159 | 31,700 | 18,468 | 21,560 |
| Net cash from operating activities | 13,041 | 63,102 | 67,915 | 35,388 | 14,283 | 29,001 | 26,633 |
| Net cash from investing activities | (23,166) | (49,982) | (22,781) | (15,417) | (4,444) | (25,672) | (33,115) |
| Net cash from financing activities | (1,344) | (18,786) | (37,006) | (26,243) | (3,380) | 9,904 | 3,390 |
| Net change in cash | (11,469) | (5,666) | 8,128 | (6,272) | 6,459 | 13,232 | (3,092) |
| Closing cash | 29,684 | 40,834 | 45,807 | 37,016 | 40,669 | 46,792 | 33,727 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -8.3% | -15.7% | +25.5% | +24.3% | +11.5% | -4.3% | - |
| EBITDA growth | -70.1% | -15.3% | +78.1% | +31.7% | +34.6% | +19.0% | - |
| PBT growth | +121.5% | +33.9% | +718.6% | +9998.0% | +33.1% | +1.0% | +66.3% |
| Net income growth | +208.6% | -13.0% | +1268.6% | +120.8% | -524.4% | +126.9% | - |
| Revenue CAGR (3Y) | -1.0% | +9.6% | +20.2% | +9.8% | -2.7% | -5.0% | -1.1% |
| EBITDA CAGR (3Y) | -23.3% | +25.7% | +46.7% | +28.2% | - | -15.8% | -20.2% |
| Profitability & leverage | |||||||
| Net income margin | +24.6% | +7.7% | +7.3% | +0.8% | -4.0% | -5.2% | -4.2% |
| Return on capital employed | +2.3% | +14.4% | +16.3% | +5.6% | +1.0% | +5.1% | -0.3% |
| Return on net worth | +75.9% | +28.2% | +48.8% | +5.8% | -22.5% | +5.2% | -14.2% |
| Debt / equity | 0.66 | 0.89 | 1.85 | 3.12 | 2.89 | 2.26 | 1.87 |
| Long-term debt / equity | 0.44 | 0.59 | 1.28 | 2.22 | 2.03 | 1.58 | 1.29 |
| Interest cover | -50.88 | 14.71 | 26.20 | 152.28 | -1,088.56 | -141.31 | -112.33 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.06 | 1.12 | 1.30 | 1.06 | 0.87 | 0.86 | 1.04 |
| Inventory turnover | 6.89 | 7.70 | 9.80 | 9.10 | 7.81 | 6.79 | 6.83 |
| Debtors turnover | 25.95 | 24.24 | 26.55 | 24.55 | 22.17 | 20.95 | 17.31 |
| EPS (₹) | 223.58 | 75.63 | 81.87 | 6.30 | (29.88) | (35.13) | (33.55) |
| Dividend per share (₹) | 3.00 | 6.00 | 6.00 | 2.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 304.12 | 315.61 | 215.27 | 110.99 | 116.37 | 144.28 | 172.92 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17,535 | 18,598 | 15,268 | 12,955 | 11,038 | 12,977 | 17,040 | 12,055 |
| Revenue growth (YoY) | +58.9% | +43.3% | -10.4% | +7.5% | -34.5% | - | - | - |
| Other income | 458 | 382 | 198 | 82,650 | 6,467 | 1,608 | 306 | 938 |
| Total expenses | 17,122 | 17,539 | 15,201 | 12,448 | 10,664 | 12,187 | 15,055 | 11,306 |
| EBITDA | 413 | 1,059 | 67.00 | 507 | 374 | 790 | 1,985 | 749 |
| EBITDA margin | +2.4% | +5.7% | +0.4% | +4.0% | +3.4% | +6.1% | +11.7% | +6.2% |
| Depreciation | 696 | 734 | 725 | 636 | 637 | 734 | 497 | 634 |
| Interest | 53.00 | 77.00 | 35.00 | 65.00 | 69.00 | 53.00 | 265 | 89.00 |
| Profit before tax | 122 | 630 | (495) | 82,456 | 6,135 | 1,611 | 1,529 | 964 |
| Tax | 47.00 | 175 | (262) | 375 | 869 | 18.00 | 125 | 303 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 57,859 | 49,358 | 73,303 | 65,757 | 47,264 | 30,175 | 43,928 |
| Revenue growth | +17.2% | -32.7% | +11.5% | +39.1% | +56.6% | -31.3% | - |
| Other income | 89,597 | 6,667 | 4,901 | 821 | 1,150 | 420 | 1,456 |
| Total expenses | 55,752 | 46,349 | 66,630 | 61,509 | 45,823 | 29,128 | 47,163 |
| Employee cost | 2,066 | 1,729 | 4,308 | 4,022 | 3,602 | 3,342 | 4,384 |
| EBITDA | 2,107 | 3,009 | 6,673 | 4,248 | 1,441 | 1,047 | (3,235) |
| EBITDA margin | +3.6% | +6.1% | +9.1% | +6.5% | +3.1% | +3.5% | -7.4% |
| Depreciation | 2,732 | 2,642 | 2,017 | 1,767 | 1,761 | 1,731 | 3,375 |
| Interest | 246 | 322 | 1,706 | 2,048 | 2,122 | 2,111 | 1,973 |
| Profit before tax | 88,726 | 6,712 | 7,851 | 1,255 | (1,292) | (2,375) | (7,127) |
| Tax | 1,157 | 838 | (51.00) | (1,473) | 99.18 | 20.72 | 162 |
| Net profit | 88,085 | 5,900 | 5,130 | 2,986 | (1,594) | (2,163) | (4,904) |
| Net profit margin | +152.2% | +12.0% | +7.0% | +4.5% | -3.4% | -7.2% | -11.2% |
| EPS (₹) | 237.64 | 15.96 | 20.60 | 7.12 | (3.63) | (6.26) | (20.26) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 737 | 736 | 767 | 766 | 766 | 766 | 720 |
| Reserves & surplus | 24,223 | 32,490 | 29,374 | 21,701 | 19,172 | 18,290 | 16,801 |
| Shareholders' funds (net worth) | 24,960 | 33,226 | 30,143 | 22,470 | 19,944 | 19,056 | 18,388 |
| Secured loans | 281 | 1,954 | 65.00 | 1,046 | 4,003 | 6,027 | 4,288 |
| Unsecured loans | 2,592 | 8,461 | 14,125 | 18,233 | 19,527 | 16,412 | 21,762 |
| Total debt | 2,873 | 10,415 | 14,190 | 19,279 | 23,529 | 22,439 | 26,050 |
| Total liabilities | 28,674 | 47,674 | 47,366 | 44,444 | 45,922 | 44,060 | 47,332 |
| Assets | |||||||
| Gross block | 40,036 | 65,332 | 31,352 | 29,658 | 30,439 | 55,235 | 51,750 |
| Net block | 15,346 | 25,614 | 14,345 | 14,542 | 14,076 | 26,423 | 25,208 |
| Capital work in progress | 1,385 | 3,619 | 1,234 | 1,085 | 1,467 | 3,006 | 4,495 |
| Investments | 13,917 | 24,892 | 32,309 | 32,325 | 34,399 | 17,693 | 16,616 |
| Inventories | 3,261 | 5,735 | 3,470 | 3,028 | 3,718 | 4,552 | 3,832 |
| Sundry debtors | 454 | 2,394 | 2,765 | 2,308 | 2,112 | 2,088 | 1,978 |
| Cash & bank balances | 4,466 | 4,292 | 5,151 | 1,415 | 2,605 | 4,319 | 3,532 |
| Loans & advances | 1,672 | 5,652 | 1,828 | 1,607 | 2,041 | 3,318 | 3,341 |
| Total current assets | 9,853 | 18,073 | 13,214 | 8,357 | 10,477 | 14,276 | 12,683 |
| Total current liabilities | 13,194 | 28,826 | 18,668 | 17,276 | 17,804 | 20,733 | 15,059 |
| Net working capital | (3,341) | (10,753) | (5,454) | (8,919) | (7,328) | (6,457) | (2,376) |
| Total assets | 28,674 | 47,674 | 47,366 | 44,444 | 45,922 | 44,060 | 47,332 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 982 | 3,018 | 1,121 | 2,450 | 2,366 | 2,145 | 487 |
| Net cash from operating activities | 2,991 | 13,578 | 8,662 | 4,775 | 5,282 | 6,680 | (1,455) |
| Net cash from investing activities | 1,391 | (10,731) | 1,492 | 917 | (4,681) | (2,988) | (4,637) |
| Net cash from financing activities | (4,071) | (4,883) | (7,930) | (7,021) | (516) | (3,472) | 7,749 |
| Net change in cash | 311 | (2,036) | 2,224 | (1,329) | 84.69 | 220 | 1,658 |
| Closing cash | 4,466 | 4,292 | 5,151 | 1,415 | 2,605 | 4,319 | 3,532 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +17.2% | -32.7% | +11.5% | +39.1% | +56.6% | -31.3% | - |
| EBITDA growth | -30.0% | -54.9% | +57.1% | +194.9% | +37.6% | +132.4% | - |
| PBT growth | +1221.9% | -14.5% | +525.7% | +9998.0% | +45.6% | +66.7% | - |
| Net income growth | +1392.9% | +15.0% | +71.8% | +287.3% | +26.3% | +55.9% | - |
| Revenue CAGR (3Y) | -4.2% | +1.5% | +34.4% | +14.4% | -11.9% | -19.5% | -0.3% |
| EBITDA CAGR (3Y) | -20.8% | +27.8% | +85.4% | - | -31.1% | -9.4% | - |
| Profitability & leverage | |||||||
| Net income margin | +151.4% | +11.9% | +10.8% | +4.2% | -2.9% | -7.9% | -16.6% |
| Return on capital employed | +15.1% | +5.7% | +14.7% | +7.9% | +0.6% | 0.0% | 0.0% |
| Return on net worth | +302.8% | +18.6% | +19.5% | +14.1% | -8.2% | 0.0% | 0.0% |
| Debt / equity | 0.23 | 0.39 | 0.64 | 1.01 | 1.18 | 1.29 | 1.10 |
| Long-term debt / equity | 0.11 | 0.16 | 0.31 | 0.59 | 0.80 | 0.86 | 0.72 |
| Interest cover | -39.36 | 87.74 | 36.64 | 82.52 | -663.06 | -308.66 | -29.85 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.10 | 1.02 | 2.40 | 2.19 | 1.10 | 0.56 | 0.90 |
| Inventory turnover | 12.86 | 10.72 | 22.56 | 19.49 | 11.43 | 7.20 | 10.34 |
| Debtors turnover | 40.63 | 19.13 | 28.90 | 29.76 | 22.51 | 14.84 | 16.80 |
| EPS (₹) | 237.64 | 15.96 | 20.60 | 7.12 | (3.63) | (6.26) | (20.26) |
| Dividend per share (₹) | 3.00 | 6.00 | 6.00 | 2.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 67.73 | 90.29 | 78.59 | 58.66 | 52.06 | 49.77 | 48.70 |
To see the full year-wise statements and ratios of Tata Motors Passenger Vehicles Limited, buy the company report.
Board of directors of Tata Motors Passenger Vehicles Limited
Tata Motors Passenger Vehicles has 8 current directors and 34 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vedika Bhandarkar | Director | 26 Jun 2019 | 7 Years 4 Months | Current |
| Chandrasekaran Natarajan Also directs: Tata Consumer Products Limited, Tata Consultancy Services Limited, Tata Steel Limited and 5 more | Director | 17 Jan 2017 | 9 Years 9 Months | Current |
| Al Noor Ramji Also directs: Tata Consultancy Services Limited, Tata Motors Limited | Director | 01 May 2022 | 4 Years 5 Months | Current |
| Pathamadai Balachandran Balaji Also directs: Tata Passenger Electric Mobility Limited, Tata Motors Limited, Agratas Energy Storage Solutions Private Limited and 1 more | Additional Director | 17 Nov 2025 | 0 Years 11 Months | Current |
| Shailesh Chandra | Additional Director | 01 Oct 2025 | 1 Years 0 Months | Current |
| Sudha Krishnan Also directs: Graphite India Limited, Vertis Fund Advisors Private Limited, Sbi Funds Management Limited and 1 more | Additional Director | 01 Oct 2025 | 1 Years 0 Months | Current |
Showing 6 of 8 current directors. View all directors
Peer comparison
Tata Motors Passenger Vehicles Limited is compared with the 5 companies closest to it by revenue in the Automobiles industry (Four Wheelers), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Tata Motors Passenger Vehicles Limitedthis company | ₹3,35,582 Cr (FY 2026) | ₹86,350 Cr | 25.7% | -8.3% | 24,380 | Mumbai, Maharashtra, India |
| Hyundai Motor India Limited | ₹70,063 Cr (FY 2025) | -2.0% | Sriperumbudur, Tamil Nadu, India | |||
| Toyota Kirloskar Motor Private Limited | ₹65,567 Cr (FY 2025) | 16.0% | Bangalore, Karnataka, India | |||
| Tata Motors Passenger Vehicles Limited | ₹49,284 Cr (FY 2025) | -4.0% | Mumbai, Maharashtra, India | |||
| Suzuki Motor Gujarat Private Limited | ₹40,982 Cr (FY 2025) | 3.0% | Hansalpur, Gujarat, India | |||
| Kia India Private Limited | ₹33,794 Cr (FY 2025) | -5.0% | Andhra Pradesh, India |
To see the full peer comparison of Tata Motors Passenger Vehicles Limited, buy the company report.
Auditor
Tata Motors Passenger Vehicles Limited is audited by B S R & Co. LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & Co. LLP | FY 2024 | 101248W/W-100022 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 42.50%, foreign institutional investors hold 17.10%, domestic institutional investors hold 17.30% and retail and other public shareholders hold 23.10%.
Sep 2026
QUARTER
42.50% Promoters
17.30% DII (Domestic Institutional)
17.10% FII (Foreign Institutional)
23.10% Retail & Others
Promoter holding - history
Now 42.50% · Sep 2026High 42.60% · Dec 2025Low 42.50% · Sep 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 42.50% | 42.60% | 42.60% | 42.60% |
| Public | 57.50% | 57.40% | 57.40% | 57.40% |
Charges & borrowings
Open charges
₹3,387.08 Cr
Satisfied charges
₹35,541 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Sep 2024 | 101013467 | Government of Gujarat | ₹587.08 Cr | Open | |
| 28 Dec 2021 | 100525996 | Sbicap Trustee Company Limited | ₹2,800 Cr | Open | |
| 29 Oct 2020 | 100399908 | Others | ₹1,800 Cr | Satisfied | |
| 22 Aug 2020 | 100391373 | Others | ₹1,000 Cr | Satisfied | |
| 23 Dec 2015 | 10613778 | Tata Motors Finance Solutions Limited | ₹2,500 Cr | Satisfied |
To see the full charge records of Tata Motors Passenger Vehicles Limited, buy the company report.
Total charge records: 46 View all charges
Legal cases
Tata Motors Passenger Vehicles Limited has 49,745 court cases on record: 48,963 filed by Tata Motors Passenger Vehicles, 785 filed against it. 148 cases are pending and 49,597 are disposed.
Total cases
49,745
Filed by the company
48,963
Filed against the company
785
Pending
148
Disposed
49,597
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 49,576 | 706 | 130 |
| High courts | 129 | 58 | 18 |
| Supreme Court | 34 | 18 | 0 |
| NCLT | 4 | 1 | 0 |
| NCLAT | 2 | 2 | 0 |
Cases on record (5 of 49,745)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Court case (SJ) | Filed by the company against Balaji Cars Pvt Ltd and 3 others | Pending |
| High Court, CHHATTISGARH | Motor accident claim | Filed against the company by The New India Assurance Company Limited | Pending |
| High Court, KARNATAKA | Court case (MFA) | Filed by the company against The New India Assurance Company Ltd and 1 other | Pending |
| High Court | Arbitration matter | Filed by the company against I.S.M Automobiles Pvt. Ltd. and 6 others | Disposed |
| High Court, MAHARASHTRA | Arbitration matter | Filed by the company against I.S.M. Automobiles Pvt. Ltd. and 6 Ors. and 6 others | Disposed |
To see the full case history of Tata Motors Passenger Vehicles Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Tata Motors Passenger Vehicles Limited was last rated by Care on 17 Aug 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 17 Aug 2022 |
To see the full credit ratings and regulatory alerts of Tata Motors Passenger Vehicles Limited, buy the company report.
MSME payment delays
Tata Motors Passenger Vehicles Limited has 79 MSME Form 1 returns on record between 2004 and 2024, listing 1,541 overdue payments to 213 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 213)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Micro Auto Industries | |||
| Pritam Automech Private Limited | |||
| Apollo Coated Products Unit II Private Limited | |||
| Marks Technosystems Private Limited | |||
| Vivek Engineers |
To see the full MSME payment records of Tata Motors Passenger Vehicles Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Tata Motors Passenger Vehicles has 15 subsidiary companies and 4 associated companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
15
Subsidiary companies
4
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Brabo Robotics and Automation Limited | U29309MH2019PLC328152 | |
| Tata Passenger Electric Mobility Ltd | U34100MH2021PLC373648 | |
| Tata Motors Body Solutions Limited | U34101MH2006PLC164771 | |
| Jaguar Land Rover Technology and Business Services India Private Limited (Formerly Known As JT Special Vehicles Pvt. Limited) | U34102MH2016PTC339515 | |
| Jaguar Land Rover India Limited | U34200MH2012FLC237194 | |
| TML Smart City Mobility Solutions (J&K) Private Limited | U34300JK2022PTC013897 |
To see the full group structure of Tata Motors Passenger Vehicles Limited, buy the company report.
Employees & EPFO
Tata Motors Passenger Vehicles Limited has a workforce of 24,380 employees on its EPFO records as of Mar 29, 2024, across 6 active EPFO establishments.
Employee count
24,380
Active EPFO establishments
6
Employee growth
-2.66%
GST
Tata Motors Passenger Vehicles has 27 GST registrations: 21 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
27
Active
21
Cancelled / inactive
6
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACT2727Q1ZW | Maharashtra | Active | 01 Jul 2017 |
| 02AAACT2727Q1Z8 | Himachal Pradesh | Active | 01 Jul 2017 |
| 03AAACT2727Q1Z6 | Punjab | Active | 01 Jul 2017 |
| 04AAACT2727Q1Z4 | Chandigarh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Tata Motors Passenger Vehicles Limited, buy the company report.
Recent activity
Tata Motors Passenger Vehicles Limited has 73 board changes on record since 1981: 42 appointments and 31 cessations. The latest: Dhiman Gupta was appointed as CFO on 22 Nov 2025.
Filing
Tata Motors Passenger Vehicles Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Charges
A charge registered on 01 Sep 1997 via Charge ID 90229254 with Sbicap Trustee Company Limited was fully satisfied on 16 Jan 2026.
Charges
A charge registered on 16 Jul 1993 via Charge ID 90228661 with Industrial Development Bank Of India was fully satisfied on 05 Dec 2025.
Appointed
Dhiman Gupta was appointed as CFO.
Appointed
Pathamadai Balachandran Balaji was appointed as Additional Director.
Ceased
Girish Arun Wagh ceased to be Whole-Time Director.
Ceased
Guenter Karl Butschek ceased to be Director.
Appointed
Shailesh Chandra was appointed as Additional Director.
Appointed
Sudha Krishnan was appointed as Additional Director.
Ceased
Veerayya Chowdary Kosaraju ceased to be Director.
Ceased
Hanne Birgitte Breinbjerg Sorensen ceased to be Director.
Charges
A charge with Sbicap Trustee Company Limited of Rs. 2,800.00 Cr registered on 28 Dec 2021 with Charge ID 100525996 was modified on 29 Sep 2025.
187 earlier events are in the company report.
News
Tata Motors: Expands Partnership With Stellantis For Advanced Technology And Product Collaboration, Boosting Vehicle Development For Global Markets, Manufacturing To Happen At Fiat India Automobiles Joint Venture.
EU Is Preparing So-called Safeguard Measures That Would Limit Imports Of Chinese Hybrid Vehicles Into The Bloc In A Bid To Improve The Trade Relationship. (TMPV)
TATA MOTORS PASSENGER: SEPTEMBER TOTAL SALES 70,210 UNITS VS 60,907 UNITS (YOY); EST 67,010
Tata Motors PV: Co MD Expresses Optimism For The Festive Season Due To Strong Order Book And Good Customer Interest.
Tata Motors PV: Co's EV IB + Domestic 15,384 Units Vs 9,191 Units (YoY), Q2 FY27 Growth Of 67% And 47150 Units Vs 24855 Units (YoY), Growth Of 90%
From our blog
Frequently asked questions
Tata Motors Passenger Vehicles is an active public limited company based in Mumbai, Maharashtra, India. The company works in commercial vehicles and fleet, within the automotive industry. It was incorporated on 01 September 1945 (81+ years old) and is registered under CIN L28920MH1945PLC004520. Listed on BSE: 500570 and NSE: TMPV.
Tata Motors Passenger Vehicles reported revenue of ₹3,35,582 Cr for FY 2025-26 (down 8.3% YoY) based on consolidated financials.
Tata Motors Passenger Vehicles has 8 current directors:
- Vedika Bhandarkar - Director
- Chandrasekaran Natarajan - Director
- Al Noor Ramji - Director
- Pathamadai Balachandran Balaji - Additional Director
- Shailesh Chandra - Additional Director
- Sudha Krishnan - Additional Director
- Bharat Tilakraj Puri - Director
- Usha Sangwan - Director
The latest financial statements of Tata Motors Passenger Vehicles on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 20 June 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Tata Motors Passenger Vehicles is 27AAACT2727Q1ZW, registered in Maharashtra. The company has 27 GST registrations in all, of which 21 are active and 6 are cancelled or inactive. Other active GSTINs include 02AAACT2727Q1Z8 (Himachal Pradesh), 03AAACT2727Q1Z6 (Punjab), 04AAACT2727Q1Z4 (Chandigarh).
The CIN (Corporate Identification Number) of Tata Motors Passenger Vehicles is L28920MH1945PLC004520. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Tata Motors Passenger Vehicles is a listed company as per MCA records. Its shares are listed on both BSE (code: 500570) and NSE (symbol: TMPV).
Tata Motors Passenger Vehicles has 49,745 court cases on record: 48,963 filed by the company and 785 filed against it. 148 are pending. Most are in the district courts.
Tata Motors Passenger Vehicles was incorporated on 01 September 1945, making it 81+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Tata Motors Passenger Vehicles by revenue are Hyundai Motor India Limited, Toyota Kirloskar Motor Private Limited, Tata Motors Passenger Vehicles, Suzuki Motor Gujarat Private Limited, Kia India Private Limited, all in the Automobiles industry (Four Wheelers), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles).
Dhiman Gupta was appointed as CFO on 22 Nov 2025. Pathamadai Balachandran Balaji was appointed as Additional Director on 17 Nov 2025. Girish Arun Wagh ceased to be Whole-Time Director on 01 Oct 2025. Tata Motors Passenger Vehicles has 73 board changes on record in total.
Tata Motors Passenger Vehicles has 79 MSME Form 1 returns on record between 2004 and 2024, listing 1,541 overdue payments to 213 micro and small suppliers. The latest return was filed on 01 May 2024.