Tata Motors Passenger Vehicles Ltd
TMPV NSE
Tata Motors Passenger Vehicles Ltd
Consumer Discretionary F&ONSE: TMPV BSE: 500570 Automobiles
Key Fundamentals
LargecapCars & Utility VehiclesAutomobilesMarket Cap
1.3L Cr
Volatility
Moderate
P/E Ratio
1.55
EBITDA
₹24,684 Cr
Return on Equity
-1.16%
Debt to Equity
0.71
Book Value
₹304.29
EPS
₹102.18
52W High
₹447.79
52W Low
₹294.3
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Tata Motors Passenger Vehicles Ltd insights
47 extracted metrics + investor summaries across FY09–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
3- Stock is trading at 1.14 times its book value
- Company has delivered good profit growth of 101% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 52.4%
Weaknesses
6- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 6.08% over past five years.
- Tax rate seems low
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.86,291 Cr.
- Promoter holding has decreased over last 3 years: -3.88%
Growth Rate
Revenue Growth
-8.09% ↘
Net Income Growth
-107.10% ↘
Cash Flow Change
-79.33% ↘
ROE
-107.34% ↗
ROCE
-96.40% ↗
EBITDA Margin (Avg.)
-49.79% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 16h agoAI opinion · based on fundamentals
Risk high
Tata Motors Passenger Vehicles trades at a P/E of 1.5x and P/B of 1.13x with a market cap of ₹1,26,984 Cr. The company has delivered exceptional profit CAGR of 101% over 5 years and ROE of 52% over 3 years, but revenue growth remains tepid at 6% CAGR over 5 years with a TTM sales decline of 8%.
Bull Case 7
- Exceptional profit growth with 5-year compounded profit CAGR of 101% and TTM profit growth of 209%, indicating a strong earnings turnaround
- Outstanding return on equity track record with 3-year ROE of 52% and last year ROE of 76%, demonstrating efficient capital deployment
- Stock trades at just 1.13x book value, offering potential margin of safety relative to asset base
- Extremely low P/E ratio of 1.5x suggests earnings are substantially ahead of market valuation expectations
- 5-year stock CAGR of 14% shows the market has rewarded the turnaround story over a medium-term horizon
- 10-year compounded profit CAGR of 21% demonstrates long-term earnings compounding ability through cycles
- Dividend yield of 0.87% provides some income return to shareholders while the company reinvests for growth
Bear Case 8
- TTM sales declined 8% indicating near-term demand softness or market share pressure in the passenger vehicle segment
- Earnings include other income of ₹86,291 Cr which inflates reported profits and raises questions about core operating earnings quality
- Poor revenue growth of only 6% CAGR over 5 years and just 2% over 10 years suggests limited top-line scalability
- Promoter holding has decreased by 3.88% over the last 3 years, signaling potential dilution or reduced promoter confidence
- Low interest coverage ratio indicates stretched debt servicing capacity relative to operating earnings
- Company may be capitalizing interest costs, which would understate true expenses and overstate reported profitability
- 1-year stock return of -11% and 3-year CAGR of -2% show recent underperformance despite strong reported earnings
- Low effective tax rate raises concerns about sustainability of current after-tax earnings levels going forward
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Headwinds 2
- Sanand plants hit by flooding Jul 27
Severe flooding disrupted Tata Motors PV's Sanand, Gujarat plants, affecting production of Tiago, Tigor, Nexon, and Sierra models. Duration of production loss not yet quantified.
- India cuts duty on UK cars Jul 10
India reduced import duties on UK-built petrol and diesel cars with a 20,000-unit quota for year one, potentially increasing competition in the domestic PV segment.
Positives 2
- PV sales surge 59% in July Aug 1
Tata Motors PV reported total sales of 63,760 units in July 2026, up 59% YoY. EV sales more than doubled to 15,217 units, driving both domestic and international growth.
- JLR expands EV charger access Jul 14
JLR announced access to over one million EV chargers across Europe for its customers, strengthening its EV ecosystem and supporting luxury EV adoption.
Neutral 1
- JLR recalls 15,535 US vehicles Jul 22
Jaguar Land Rover North America announced a recall of 15,535 vehicles in the U.S. Specific affected models and remediation timeline not disclosed.
TL;DR: Tata Motors PV delivered exceptional volume growth in July with 59% YoY sales increase and EV sales more than doubling to 15,217 units, signalling strong demand momentum. Key risks include Sanand plant flooding disrupting multi-model production and potential increased import competition from UK-built cars under reduced duties. The EV growth trajectory is a standout positive, but near-term supply disruption from flooding could weigh on August volumes. Overall trend is improving on demand, with execution risk from weather-related supply shocks.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,05,932 | 1,02,236 | 1,05,129 | 1,10,577 | 1,19,033 | 1,07,102 | 83,656 | 94,472 | 98,377 | 87,677 | 72,349 | 70,108 | 1,05,447 |
| Expenses | 92,818 | 89,019 | 91,362 | 95,159 | 1,02,348 | 91,854 | 73,742 | 84,070 | 83,990 | 79,515 | 73,753 | 69,229 | 94,188 |
| Operating Profit | 13,114 | 13,217 | 13,767 | 15,418 | 16,685 | 15,248 | 9,914 | 10,402 | 14,387 | 8,162 | -1,404 | 879 | 11,259 |
| OPM % | 12% | 13% | 13% | 14% | 14% | 14% | 12% | 11% | 15% | 9% | -1.9% | 1.2% | 11% |
| Other Income | 1,453 | 895 | 1,557 | 1,604 | 1,412 | 6,553 | 1,920 | 2,730 | 2,361 | 2,690 | 81,507 | 39 | 1,877 |
| Interest | 2,642 | 2,615 | 2,652 | 2,485 | 1,645 | 1,471 | 1,094 | 843 | 828 | 692 | 686 | 682 | 767 |
| Depreciation | 7,050 | 6,633 | 6,637 | 6,850 | 7,143 | 6,565 | 5,467 | 4,863 | 4,717 | 4,851 | 4,871 | 4,969 | 5,092 |
| PBT | 4,875 | 4,864 | 6,035 | 7,687 | 9,309 | 13,765 | 5,273 | 7,426 | 11,203 | 5,309 | 74,546 | -4,733 | 7,277 |
| Tax % | -13% | 32% | 36% | 7% | -88% | 23% | 33% | 26% | 24% | 25% | -2% | -26% | 19% |
| Net Profit | 5,496 | 3,301 | 3,832 | 7,145 | 17,528 | 10,587 | 3,521 | 5,484 | 8,556 | 4,003 | 76,248 | -3,483 | 5,878 |
| EPS in Rs | 16.28 | 9.64 | 11.33 | 21.14 | 52.37 | 31.63 | 9.36 | 14.69 | 23.01 | 10.66 | 207 | -9.47 | 15.7 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,63,159 | 2,73,046 | 2,69,693 | 2,91,550 | 3,01,938 | 2,61,068 | 2,49,795 | 2,78,454 | 3,45,967 | 4,34,016 | 3,66,094 | 3,35,582 |
| Expenses | 2,23,920 | 2,34,650 | 2,40,104 | 2,60,093 | 2,77,274 | 2,43,081 | 2,17,507 | 2,53,734 | 3,14,151 | 3,76,207 | 3,18,101 | 3,16,863 |
| Operating Profit | 39,239 | 38,395 | 29,589 | 31,458 | 24,664 | 17,987 | 32,287 | 24,720 | 31,816 | 57,809 | 47,993 | 18,719 |
| OPM % | 15% | 14% | 11% | 11% | 8% | 7% | 13% | 9% | 9% | 13% | 13% | 6% |
| Other Income | 714 | -2,670 | 1,869 | 5,933 | -26,686 | 102 | -11,118 | 2,424 | 6,664 | 4,807 | 14,219 | 86,291 |
| Interest | 4,861 | 4,889 | 4,238 | 4,682 | 5,759 | 7,243 | 8,097 | 9,312 | 10,225 | 7,594 | 3,901 | 2,827 |
| Depreciation | 13,389 | 16,711 | 17,905 | 21,554 | 23,591 | 21,425 | 23,547 | 24,836 | 24,860 | 27,239 | 21,102 | 19,784 |
| PBT | 21,703 | 14,126 | 9,315 | 11,155 | -31,371 | -10,580 | -10,474 | -7,003 | 3,394 | 27,783 | 37,209 | 82,399 |
| Tax % | 35% | 21% | 35% | 39% | -8% | 4% | 24% | 60% | 21% | -14% | 24% | 0% |
| Net Profit | 14,073 | 11,678 | 7,557 | 9,091 | -28,724 | -11,975 | -13,395 | -11,309 | 2,690 | 31,807 | 28,149 | 82,645 |
| EPS in Rs | 48.44 | 40.11 | 25.82 | 31.13 | -99.84 | -39.08 | -40.51 | -34.45 | 7.27 | 94.47 | 75.6 | 224 |
| Div. Payout % | 0% | 1% | 0% | 0% | 0% | 0% | 0% | 0% | 32% | 7% | 8% | 1% |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 644 | 679 | 679 | 679 | 679 | 720 | 766 | 766 | 766 | 767 | 736 | 737 |
| Reserves | 55,618 | 78,273 | 57,383 | 94,749 | 59,500 | 62,359 | 54,481 | 43,795 | 44,556 | 84,151 | 1,15,408 | 1,11,331 |
| Borrowings | 73,610 | 69,360 | 78,604 | 88,950 | 1,06,175 | 1,24,788 | 1,42,131 | 1,46,449 | 1,34,113 | 1,07,264 | 71,540 | 79,109 |
| Other Liabilities | 1,07,442 | 1,14,872 | 1,35,914 | 1,42,813 | 1,39,349 | 1,32,313 | 1,44,193 | 1,38,051 | 1,55,239 | 1,77,339 | 1,89,289 | 1,88,012 |
| Total Liabilities | 2,37,315 | 2,63,184 | 2,72,580 | 3,27,192 | 3,05,703 | 3,20,179 | 3,41,570 | 3,29,061 | 3,34,674 | 3,69,521 | 3,76,973 | 3,79,189 |
| Fixed Assets | 88,479 | 1,07,232 | 95,944 | 1,21,414 | 1,11,234 | 1,27,107 | 1,38,708 | 1,38,855 | 1,32,080 | 1,21,285 | 1,15,697 | 1,04,656 |
| CWIP | 28,640 | 25,919 | 33,699 | 40,034 | 31,884 | 35,622 | 20,964 | 10,251 | 14,274 | 35,698 | 65,806 | 1,02,654 |
| Investments | 15,337 | 23,767 | 20,338 | 20,813 | 15,771 | 16,308 | 24,620 | 29,380 | 26,379 | 22,971 | 35,656 | 26,313 |
| Other Assets | 1,04,858 | 1,06,266 | 1,22,600 | 1,44,932 | 1,46,814 | 1,41,141 | 1,57,278 | 1,50,575 | 1,61,941 | 1,89,567 | 1,59,814 | 1,45,566 |
| Total Assets | 2,37,315 | 2,63,184 | 2,72,580 | 3,27,192 | 3,05,703 | 3,20,179 | 3,41,570 | 3,29,061 | 3,34,674 | 3,69,521 | 3,76,973 | 3,79,189 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 35,531 | 37,900 | 30,199 | 23,857 | 18,891 | 26,633 | 29,001 | 14,283 | 35,388 | 67,915 | 63,102 | 13,041 |
| Investing | -36,232 | -36,694 | -39,571 | -25,139 | -20,878 | -33,115 | -25,672 | -4,444 | -15,417 | -22,781 | -49,982 | -23,166 |
| Financing | 5,201 | -3,795 | 6,205 | 2,012 | 8,830 | 3,390 | 9,904 | -3,380 | -26,243 | -37,006 | -18,786 | -1,344 |
| Net Cash Flow | 4,500 | -2,589 | -3,167 | 730 | 6,843 | -3,092 | 13,232 | 6,459 | -6,272 | 8,128 | -5,666 | -11,469 |
| Free Cash Flow | 3,643 | 6,455 | 14,181 | -11,191 | -16,346 | -2,898 | 9,146 | -655 | 16,443 | 36,732 | 26,034 | -23,195 |
| CFO/OP | 101 | 104 | 108 | 85 | 87 | 158 | 96 | 66 | 121 | 125 | 140 | 87 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 17 | 18 | 19 | 25 | 23 | 16 | 19 | 16 | 17 | 14 | 13 | 14 |
| Inventory Days | 67 | 73 | 77 | 83 | 73 | 82 | 83 | 71 | 66 | 64 | 78 | 85 |
| Days Payable | 131 | 138 | 138 | 151 | 133 | 145 | 175 | 141 | 128 | 126 | 160 | 158 |
| Cash Conversion Cycle | -47 | -46 | -41 | -43 | -38 | -48 | -74 | -53 | -45 | -48 | -69 | -59 |
| Working Capital Days | -62 | -63 | -69 | -71 | -78 | -92 | -112 | -88 | -63 | -55 | -75 | -81 |
| ROCE % | 21% | 15% | 9% | 9% | 2% | 0% | 6% | 1% | 6% | 19% | 16% | 3% |
Documents
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
7 Aug - Q1 FY27 investor call with management and JLR on August 13, 2026. 7 Aug - Q1 FY27 investor call with management and JLR on August 13, 2026.
2
Announcement under Regulation 30 (LODR)-Press Release / Media Release
1 May - April 2026 sales rose 31.1% to 59,701 units, including 9,150 EVs. 1 May - April 2026 sales rose 31.1% to 59,701 units, including 9,150 EVs.
3
Disclosure Pursuant To Chapter XIV - Centralized Database For Debentures, Annexure XIV-B Of The SEBI Master Circular Dated October 15, 2025.
30 Apr - NCD disclosure filed; interest paid and ₹500 crore E-30B redeemed on March 31, 2026. 30 Apr - NCD disclosure filed; interest paid and ₹500 crore E-30B redeemed on March 31, 2026.
4
Board Meeting Intimation for Consideration And Approval Of The Audited Financial Results For The Period Ended March 31, 2026 And Recommendation Of Dividend, If Any.
28 Apr - Board to meet on May 14, 2026 for Q4/FY26 results, dividend recommendation, and analyst call. 28 Apr - Board to meet on May 14, 2026 for Q4/FY26 results, dividend recommendation, and analyst call.
5
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
5 May - Details of conference call on financial results for Q4FY26 of the Company. 5 May - Details of conference call on financial results for Q4FY26 of the Company.
Frequently Asked Questions about Tata Motors Passenger Vehicles Ltd
What does Tata Motors Passenger Vehicles Ltd do?
Tata Motors Group is a global automobile manufacturer. Part of the multi-national conglomerate, the Tata group, it offers a wide and diverse portfolio of cars, sports utility vehicles, etc.
It has operations in India, the UK, South Korea, South Africa, China, Brazil, Austria and Slovakia through ...
Where is Tata Motors Passenger Vehicles Ltd (TMPV) listed?
Tata Motors Passenger Vehicles Ltd is listed on the Indian stock exchanges. It is listed on NSE: TMPV and BSE: 500570. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Tata Motors Passenger Vehicles Ltd belong to?
Tata Motors Passenger Vehicles Ltd operates in the Consumer Discretionary sector within the Automobiles industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Tata Motors Passenger Vehicles Ltd?
Tata Motors Passenger Vehicles Ltd has a market capitalisation of approximately ₹126984.01 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Tata Motors Passenger Vehicles Ltd?
The Price-to-Earnings (PE) ratio of Tata Motors Passenger Vehicles Ltd is 1.55. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Tata Motors Passenger Vehicles Ltd?
Over the past 52 weeks, Tata Motors Passenger Vehicles Ltd has traded between a low of ₹294.3 and a high of ₹447.79. This range helps investors understand the stock's price volatility and recent trading levels.
Does Tata Motors Passenger Vehicles Ltd pay dividends?
Yes, Tata Motors Passenger Vehicles Ltd has a dividend yield of 0.87%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Tata Motors Passenger Vehicles Ltd?
Tata Motors Passenger Vehicles Ltd has a Return on Equity (ROE) of -1.16%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Tata Motors Passenger Vehicles Ltd on Tapetide?
On Tapetide, you can view Tata Motors Passenger Vehicles Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Tata Motors Group is a global automobile manufacturer. Part of the multi-national conglomerate, the Tata group, it offers a wide and diverse portfolio of cars, sports utility vehicles, etc. It has operations in India, the UK, South Korea, South Africa, China, Brazil, Austria and Slovakia through a strong global network of subsidiaries, associate companies and Joint Ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.[1]