Tata Motors Passenger Vehicles Financial Statements

Name: Tata Motors Passenger Vehicles Financials — historical data
Creator: StockeZee

For Mar 2026, Tata Motors Passenger Vehicles reported revenue of ₹3,35,582 crore and net profit of ₹82,390 crore. Return on equity stands at 75.70%. Profit & loss, balance sheet and cash flow across 9 reported years are below.

Updated 31 Jul 2026Source: NSE & BSE company filingsNifty 50 constituent

Latest year revenue: ₹3,35,582 Cr
EBITDA: ₹18,897 Cr
Operating margin: 5.63%
Profit after tax: ₹82,390 Cr
Net margin: 24.55%
EPS: ₹223.74
Latest year: Mar 2026
Years reported: 9

Tata Motors Passenger Vehicles profit & loss

Reported annual performance for Tata Motors Passenger Vehicles, oldest to newest. Figures in ₹ crore unless a row states otherwise.

Tata Motors Passenger Vehicles annual profit and loss statement. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue from Operations	2,95,409	3,01,938	2,61,068	2,49,795	2,78,454	3,45,967	4,37,928	4,39,695	3,35,582
Sales Growth YoY %	—	2.21%	-13.54%	-4.32%	11.47%	24.25%	26.58%	0.4%	-23.68%
Other Income	889	2,965	2,973	2,643	3,054	4,633	5,950	6,244	5,787
Total Income	2,96,298	3,04,904	2,64,041	2,52,438	2,81,507	3,50,600	4,43,878	4,45,939	3,41,369
Cost of Goods Sold (COGS)	1,85,850	1,96,321	1,67,131	1,58,292	1,80,886	2,26,470	2,72,756	2,71,786	2,14,082
Cost of Materials Consumed	1,71,993	1,81,009	1,52,671	1,41,357	1,60,921	2,08,944	2,49,278	2,41,148	1,95,585
Purchases of Stock-in-Trade	15,904	13,259	12,228	12,250	18,375	22,307	25,043	27,802	16,836
Changes in Inventories	-2,047	2,053	2,231	4,684	1,590	-4,782	-1,566	2,836	1,661
Gross Profit	1,09,559	1,05,617	93,937	91,503	97,568	1,19,497	1,65,172	1,67,909	1,21,500
Gross Margin %	37.09%	34.98%	35.98%	36.63%	35.04%	34.54%	37.72%	38.19%	36.21%
Total Operating Expenses	75,033	80,953	75,950	59,216	72,848	87,578	1,05,634	1,11,771	1,02,603
Employee Benefit Expense	30,300	33,244	30,439	27,648	30,809	33,655	42,487	47,767	45,150
Other Expenses	44,733	47,709	45,511	31,567	42,039	53,923	63,147	64,004	57,453
EBITDA	34,526	24,664	17,987	32,287	24,720	31,920	59,538	56,138	18,897
OPM %	11.69%	8.17%	6.89%	12.93%	8.88%	9.23%	13.6%	12.77%	5.63%
Total Non-Operating Expenses	28,211	-302	25,797	17,883	33,518	36,676	36,279	27,789	18,469
Depreciation & Amortisation	21,554	23,591	21,425	23,547	24,836	24,860	27,270	23,256	19,784
Finance Costs	4,682	5,759	7,243	8,097	9,312	10,225	9,986	5,083	2,827
Exceptional Items (Before Tax)	1,975	-29,652	-2,871	-13,761	-630	1,591	-977	-550	-4,142
Profit Before Tax (PBT)	11,155	-31,371	-10,580	-10,474	-7,003	3,058	27,255	33,493	-2,069
Tax Expense	4,342	-2,437	395	2,542	4,231	704	-3,852	10,502	-246
Current Tax	3,303	2,225	1,893	1,710	2,670	3,258	4,937	5,023	3,621
Deferred Tax	1,038	-4,663	-1,498	832	1,561	-2,554	-8,789	5,479	-3,867
Effective Tax %	38.92%	7.77%	-3.74%	-24.27%	-60.42%	23.03%	-14.13%	31.36%	11.89%
Profit/Loss from Discontinued Operations	0	0	0	0	0	0	0	4,871	84,022
Total Profit for Period	9,091	-28,724	-11,975	-13,395	-11,309	2,690	31,807	28,149	82,645
Less: Non-controlling Interests	129	102	96	56	133	276	408	319	255
Net Profit (Owner's PAT)	8,962	-28,826	-12,071	-13,451	-11,441	2,414	31,399	27,830	82,390
Net Profit Margin %	3.03%	-9.55%	-4.62%	-5.38%	-4.11%	0.7%	7.17%	6.33%	24.55%
PAT Growth YoY %	—	-421.65%	58.13%	-11.44%	14.94%	121.1%	1,200.55%	-11.37%	196.05%
Earnings Per Share (EPS)	₹31.04	₹-99.84	₹-39.08	₹-40.51	₹-34.46	₹7.27	₹94.47	₹75.6	₹223.74
Diluted Shares Outstanding (Cr.)	289	289	309	332	332	332	332	368	368
Profit/Loss from Associates	2,278	210	-1,000	-379	-74	336	700	287	446
Other Comprehensive Income (Net of Tax)	29,563	-5,576	11,504	2,919	-455	-1,915	6,324	6,462	9,662
Expenses	2,85,143	3,36,275	2,74,621	2,62,912	2,88,511	3,47,543	4,16,622	4,12,446	3,43,438
Material Cost %	58.22%	59.95%	58.48%	56.59%	57.79%	60.39%	56.92%	54.84%	58.28%
Employee Cost %	10.26%	11.01%	11.66%	11.07%	11.06%	9.73%	9.7%	10.86%	13.45%
Other Cost %	15.14%	15.8%	17.43%	12.64%	15.1%	15.59%	14.42%	14.56%	17.12%
Interest Coverage (x)	2.77	0.19	-0.47	1.08	-0.01	0.69	3.23	6.47	-0.31

Tata Motors Passenger Vehicles revenue and profit trend

Reported annual revenue and net profit, oldest to newest. Two panels because the two measures live on different scales — one shared axis would distort both.

Tata Motors Passenger Vehicles balance sheet

Assets, liabilities and shareholders' equity as reported, in Schedule III order. Figures in ₹ crore unless a row states otherwise.

Tata Motors Passenger Vehicles annual balance sheet with assets, liabilities and equity. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Equity	60,703	63,892	56,820	48,832	52,600	93,094	1,22,754	1,18,842
Equity Share Capital	679	720	766	766	766	767	736	737
Reserves & Surplus	59,500	62,359	54,481	43,795	44,556	84,152	1,15,408	1,11,331
Equity Method Investments	4,743	4,419	4,201	4,349	4,676	5,340	5,534	5,480
Total Equity	60,703	63,892	56,820	48,832	52,600	93,094	1,22,754	1,18,842
Non-Current Liabilities	1,01,034	1,17,775	1,28,556	1,31,105	1,28,455	1,03,953	89,204	98,775
Long-term Borrowings	70,974	83,316	93,113	97,759	88,696	62,149	40,217	44,248
Deferred Tax Liabilities	1,491	1,942	1,556	1,558	1,407	1,143	1,669	2,733
Non-Current Provisions	11,855	14,737	13,607	12,956	13,197	16,537	20,935	23,425
Other Non-Current Liabilities	13,922	8,760	12,313	7,535	9,264	12,234	15,376	16,282
Non-Current Financial Liabilities	73,766	92,337	1,01,081	1,09,055	1,04,587	74,039	51,224	56,335
Current Liabilities	1,45,457	1,40,454	1,57,749	1,50,680	1,55,027	1,73,617	1,66,684	1,64,305
Short-term Borrowings	20,150	16,363	21,663	41,918	36,965	36,352	22,282	25,705
Trade Payables	68,514	66,398	76,040	69,750	72,056	93,979	97,368	92,780
Current Financial Liabilities	1,24,697	1,20,119	1,33,372	1,26,898	1,30,929	1,46,808	1,35,367	1,32,181
Other Current Financial Liabilities	36,033	37,358	35,669	15,230	21,909	16,478	15,717	13,696
Other Current Liabilities	9,546	8,966	10,443	11,762	11,033	12,990	13,340	14,262
Current Provisions	10,197	10,329	12,848	10,766	11,811	12,291	15,831	16,265
Liabilities Held for Sale	—	—	—	3	—	—	—	—
Current Tax Liabilities	1,018	1,040	1,086	1,254	1,254	1,527	2,146	1,597
Total Liabilities	2,46,492	2,58,229	2,86,306	2,81,788	2,83,482	2,77,570	2,55,888	2,63,080
Total Non-Current Assets	1,83,763	2,02,534	1,96,238	1,83,642	1,84,553	2,02,272	2,18,317	2,43,174
Property, Plant & Equipment (PPE)	72,620	84,158	86,131	87,586	84,442	81,184	81,012	73,329
Capital Work-in-Progress	8,538	8,600	8,377	3,529	5,220	10,937	17,624	26,500
Intangible Assets	37,867	42,172	51,773	50,462	46,797	39,241	33,790	29,899
Non-Current Investments	1,498	1,028	1,368	2,321	2,865	3,378	2,923	2,248
Loans – Non-Current	407	783	1,205	843	871	442	99	19
Other Non-Current Assets	2,939	5,382	2,612	6,836	10,158	7,850	8,897	6,136
Non-Current Financial Assets	27,812	24,546	25,234	19,480	18,180	18,998	15,207	9,272
Net Fixed Assets	1,19,025	1,34,930	1,46,281	1,41,577	1,36,459	1,31,363	1,32,426	1,29,728
Total Current Assets	1,22,677	1,19,393	1,46,667	1,46,454	1,51,528	1,67,718	1,59,811	1,37,857
Inventories	39,014	37,457	36,089	35,240	40,755	47,788	47,269	50,126
Trade Receivables	18,996	11,173	30,547	34,537	15,738	16,952	13,248	12,619
Cash & Cash Equivalents	21,560	18,468	31,700	38,159	31,887	40,015	34,349	22,880
Current Investments	8,938	10,862	19,051	22,709	18,838	14,253	27,199	18,585
Loans – Current	1,269	935	1,749	1,672	2,303	197	72	134
Current Financial Assets	76,617	75,528	1,03,415	1,03,388	1,00,099	1,09,399	1,00,337	72,287
Other Current Assets	6,862	6,265	6,298	7,566	10,415	10,429	11,794	14,640
Other Current Financial Assets	14,765	18,832	5,274	3,800	26,204	32,191	18,984	11,265
Assets Held for Sale	754	194	221	524	—	674	514	891
Current Tax Assets	184	143	865	260	259	101	411	804
Net Working Capital	-22,780	-21,061	-11,082	-4,226	-3,499	-5,899	-6,873	-26,448
Additional Asset Fields	5,674	6,271	6,094	8,142	12,462	21,275	13,786	21,750
Def Tax Assets	5,151	5,458	4,520	3,871	5,185	13,099	7,176	14,976
Non Controlling Int	523	814	1,573	4,271	7,278	8,176	6,610	6,774
Total Assets	3,07,195	3,22,121	3,43,126	3,30,620	3,36,081	3,70,664	3,78,642	3,81,922
Total Borrowings	91,124	99,678	1,14,776	1,39,677	1,25,660	98,500	62,499	69,953
Net Debt	69,564	81,210	83,076	1,01,518	93,774	58,485	28,150	47,073
Debt to Equity (x)	1.5	1.56	2.02	2.86	2.39	1.06	0.51	0.59
Current Ratio (x)	0.84	0.85	0.93	0.97	0.98	0.97	0.96	0.84

Tata Motors Passenger Vehicles cash flow statement

Cash generated and used across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.

Tata Motors Passenger Vehicles annual cash flow statement across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Net Cash from Operating Activities	14,283	35,388	67,915	63,102	13,041
Profit Before Tax	-7,003	3,058	27,255	33,493	-2,069
Depreciation & Amortisation	24,836	24,860	27,270	23,256	20,253
Finance Costs	9,326	10,239	9,986	5,083	3,073
Working Capital Changes	-10,474	-3,127	7,325	8,156	-9,038
Tax Paid	-1,910	-3,179	-4,516	-3,991	-3,314
Net Cash from Investing Activities	-4,775	-16,804	-22,828	-47,594	-24,810
Purchase of PPE	-9,039	-8,493	-12,975	-15,189	-13,583
Sale of Fixed Assets	230	285	231	974	46
Interest Received	653	973	2,493	2,420	1,940
Net Cash from Financing Activities	-3,380	-26,243	-37,006	-18,786	-1,344
Proceeds from Borrowings	52,401	44,441	21,824	13,384	26,425
Repayment of Borrowings	-44,890	-63,418	-47,332	-21,443	-18,110
Interest Paid	-9,251	-9,336	-9,332	-5,814	-5,111
Dividend Paid	-100	-141	-769	-2,303	-2,203
Buyback / Redemption of Shares	0	-296	0	-63	0
Lease Liabilities Paid	-1,559	-1,517	-1,924	-2,393	-2,145
Net Change in Cash	6,459	-6,272	8,128	-5,666	-11,469
Effect of Foreign Exchange Changes	331	1,387	47	-2,388	1,644
Free Cash Flow	5,243	26,895	54,941	47,913	-542
CFO / PBT (x)	-2.04	11.57	2.49	1.88	-6.3

Tata Motors Passenger Vehicles key ratios

Valuation, profitability, return, leverage and per-share measures computed from reported statements — not from adjusted or normalised earnings.

Tata Motors Passenger Vehicles trades at a P/E of 1.49× against a sector median of 31.58× — a 95% discount. Sector comparisons can mislead for conglomerates with mixed business lines.

Tata Motors Passenger Vehicles valuation, profitability, return and leverage ratios
Ratio	Category	Value
P/E (TTM)	Valuation	1.49
Forward P/E	Valuation	6.92
P/B	Valuation	1.1
PEG (TTM)	Valuation	0.27
EV / EBITDA (TTM)	Valuation	4.22
P/S (TTM)	Valuation	0.36
Operating margin	Profitability	5.58%
Net margin (TTM)	Profitability	23.54%
Return on equity	Return ratios	75.7%
Return on capital employed	Return ratios	2.73%
Return on assets	Return ratios	0.64%
Debt to equity	Leverage & liquidity	71
Beta	Leverage & liquidity	1.29
EPS (TTM)	Per share	₹224
Book value	Per share	₹304
Revenue / share (TTM)	Per share	₹950.51
Cash flow / share	Per share	₹35.41
Dividend yield	Shareholder returns	0.89%
Dividend payout (TTM)	Shareholder returns	56.44%

How this is calculated

Statements are as filed with the exchanges. Consolidated figures are shown where reported. Figures are in rupees crore unless the table states otherwise. Ratios are computed from the same reported statements, not from adjusted or normalised earnings.

Index membership reflects the Nifty 100 as published by NSE Indices, effective 2026-03-30.

Tata Motors Passenger Vehicles: frequently asked questions

What is Tata Motors Passenger Vehicles's annual revenue?

Tata Motors Passenger Vehicles reported revenue of ₹3,35,582 crore in Mar 2026, down 23.7% on the previous financial year.

Is Tata Motors Passenger Vehicles profitable?

Tata Motors Passenger Vehicles reported a net profit of ₹82,390 crore in Mar 2026, up 196.0% on the previous financial year.

What is Tata Motors Passenger Vehicles's EPS?

Tata Motors Passenger Vehicles reported earnings per share of ₹223.74 for Mar 2026.

What is Tata Motors Passenger Vehicles's operating margin?

Tata Motors Passenger Vehicles's operating margin for Mar 2026 was 5.63%.

What is Tata Motors Passenger Vehicles's return on equity?

Tata Motors Passenger Vehicles's return on equity stands at 75.70%. ROE measures profit generated per rupee of shareholder equity.

How many years of Tata Motors Passenger Vehicles financials are shown?

9 reported financial years are tabulated on this page, the most recent being Mar 2026.

Are these figures consolidated or standalone?

Consolidated figures are shown wherever the company reports them, and standalone otherwise. The basis in use is labelled on the statement table.

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Disclaimer

The data, ratios and commentary about Tata Motors Passenger Vehicles Ltd (TMPV) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.