Mumbai, India, August 13, 2026: Tata Motors Passenger Vehicles Limited (TMPVL) has reported a strong performance for the first quarter of FY27, with its domestic passenger vehicle business recording significant growth in revenue, volumes and electric vehicle sales. The company reported consolidated revenue of ₹95,799 crore, up 9.3% year-on-year, while Tata Passenger Vehicles revenue jumped 64.8% to ₹17,930 crore in Q1 FY27.

The results cover the quarter ended June 30, 2026.

Tata Passenger Vehicles revenue rises 64.8%

Tata Passenger Vehicles recorded a 46% year-on-year increase in volumes during Q1 FY27, significantly outperforming the industry. Revenue rose 64.8% to ₹17,930 crore, compared with ₹10,877 crore in the corresponding quarter last year.

The company’s EBITDA margin improved to 4.3% from 4.0%, while EBIT margin improved substantially to -0.5% from -2.8% a year earlier. Tata Passenger Vehicles also reported PBT (before exceptional items) of ₹11 crore, compared with a loss of ₹123 crore in Q1 FY26.

Free cash flow for the domestic passenger vehicle business stood at ₹1,100 crore, while the business ended the quarter with a closing cash balance of ₹10,900 crore, gross debt of ₹2,900 crore and net cash of ₹8,000 crore.

Tata Motors EV sales grow 112%

Electric vehicles remained a key growth driver for Tata Motors. EV volumes increased 112% year-on-year, with quarterly EV volumes crossing 34,000 units.

The company’s EV Vahan market share stood at 39%, allowing Tata Motors to retain its leadership position in India’s electric passenger vehicle market. Overall Vahan market share stood at 14.3%, retaining the company’s number-two position during the quarter.

EV penetration reached 19%, while CNG penetration stood at 27%, highlighting the continued contribution of alternative powertrains to Tata Motors’ passenger vehicle business.

New Tata Tiago, Tiago.ev and Sierra.ev strengthen portfolio

Tata Motors attributed the strong performance to robust customer demand and the success of its recent product launches.

During the quarter, the company launched the next-generation Tiago and Tiago.ev, aimed at strengthening its presence in the hatchback segment. Tata Motors also launched the all-new Sierra.ev, positioned as the latest and most advanced interpretation of the iconic Sierra nameplate.

The company said the new avatars of the Tiago and Punch have received a strong customer response, with robust bookings across powertrains. Supply constraints, however, affected Sierra volumes during the quarter despite strong customer interest.

Consolidated performance impacted by JLR headwinds

At the consolidated level, TMPVL reported revenue of ₹95,799 crore, up 9.3% year-on-year. Consolidated EBITDA stood at ₹7,128 crore, with an EBITDA margin of 7.4%, while PBT before exceptional items stood at ₹1,606 crore.

Jaguar Land Rover (JLR) reported revenue of £5.97 billion, down 9.6% year-on-year. Wholesale volumes declined 9.2%, with the business affected by temporary supply constraints, including a fire at a major component supplier, disruption linked to the Middle East conflict and the planned wind-down of outgoing Jaguar models ahead of the Jaguar Type 01.

JLR’s EBITDA margin stood at 8.1%, while adjusted EBIT margin was 2.8%. Despite the challenges, JLR remained profitable in the quarter, reporting PBT before exceptional items of £109 million and PAT of £66 million.

Four new JLR products planned

JLR is preparing for a significant product transition, with four new products expected to be launched in the coming months: Range Rover Electric, Range Rover Sport Electric, Range Rover GT and Jaguar Type 01.

The company said it continues to see strong demand for its brands despite near-term industry challenges. JLR is also targeting operating efficiencies through its Enterprise Missions, with £1.7 billion in savings anticipated over two years.

Tata Motors targets nearly double volumes over five years

Looking ahead, Tata Motors Passenger Vehicles has outlined an ambitious five-year strategy aimed at nearly doubling volumes, achieving 20% market share, delivering double-digit EBITDA margins and generating strong free cash flow.

The company expects demand to remain healthy in the domestic market, supported by rising EV penetration. At the same time, elevated commodity prices and foreign exchange pressures remain key challenges.

Dhiman Gupta, Chief Financial Officer, Tata Motors Passenger Vehicles, said the company remains focused on driving growth through new launches, resolving supply constraints and taking focused actions to improve margins.

Shailesh Chandra, Managing Director & CEO, Tata Motors Passenger Vehicles Limited, said Q1 FY27 marked a strong start to the year, driven by industry-beating volume growth and robust demand for the company’s recent launches.

He also highlighted the company’s record quarterly EV volumes of more than 34,000 units and 112% year-on-year growth in EV volumes, adding that Tata Motors remains confident of maintaining its growth momentum through the rest of FY27.

Key Tata Motors Passenger Vehicles Q1 FY27 numbers

• Tata PV revenue: ₹17,930 crore, up 64.8% YoY
• Tata PV volume growth: 46% YoY
• EV volume growth: 112% YoY
• Quarterly EV volumes: More than 34,000 units
• EV Vahan market share: 39%
• Overall Vahan market share: 14.3%
• Tata PV EBITDA margin: 4.3%
• Tata PV EBIT margin: -0.5%
• Tata PV free cash flow: ₹1,100 crore
• Tata PV net cash: ₹8,000 crore
• Consolidated revenue: ₹95,799 crore, up 9.3% YoY
• Consolidated PBT (bei): ₹1,606 crore
• JLR revenue: £5.97 billion
• JLR PBT (bei): £109 million

Overall, Tata Motors Passenger Vehicles has entered FY27 on a strong footing in the domestic market, with rapid EV growth, strong volume expansion and improving profitability metrics. The company’s new product pipeline, rising EV penetration and planned JLR launches are expected to remain key factors shaping its performance during the remainder of the financial year.