Tata Motors Q4 PAT slides 32% to ₹5,783 cr as JLR drags, but India PV revenue surges 49%
Consolidated Q4 FY26 profit fell 32% YoY to ₹5,783 cr on JLR weakness, even as revenue rose 7.2% to ₹1.05 lakh cr. India PV business outperformed with revenue up 49.4% to ₹18,742 cr and volumes up 37% to 201,800 units. EBITDA margin compressed to 13.1% from 14.4%.
What happened
Tata Motors Q4 PAT fell 32% to ₹5,783 cr on JLR weakness, but India PV revenue jumped 49% to ₹18,742 cr with volumes up 37%. Management sees resilient demand
Key facts
- PAT ₹5,783 cr (-32% YoY)
- Revenue ₹1,05,447 cr (+7.2%)
- EBITDA ₹13,851 cr
- margin 13.1% vs 14.4%
- India PV revenue ₹18,742 cr (+49.4%)
- PV/EV volumes 201,800 (+37%)
Why this matters
JLR's weakness opens the door to strategic options—partnership, capital realignment, or structural separation—while the India PV outperformance strengthens our standalone valuation case.