Tata Motors Q4 FY26: Domestic PV Revenue Up 49%, JLR Revenue Down 11%
Tata Motors' passenger vehicle business posted a 49% revenue surge in Q4 FY26, while JLR faced an 11% decline due to cyber incident and tariffs.
- ₹18.7K Cr (+49% YoY)
- £6.9bn (-11.1% YoY)
- ₹105.4K Cr (+7.2% YoY)
What Happened
Tata Motors Passenger Vehicles Ltd. reported consolidated Q4 FY26 revenues of ₹105.4K Cr, up 7.2% year-on-year, and EBIT of ₹8.9K Cr, down ₹0.6K Cr. The performance improved significantly quarter-on-quarter due to normalized JLR production and record domestic volumes, leading to healthy Q4 free cash flow of ₹11.4K Cr.
₹105.4K Cr
up 7.2% YoY
JLR, the British subsidiary, reported Q4 revenue of £6.9bn, down 11.1% YoY, with EBITDA margin at 14.0% (-130 bps). Full-year revenue was £22.9bn, down 20.9%, impacted by US tariffs, China challenges, and the planned wind-down of outgoing Jaguar models ahead of the new Jaguar launch, as well as production stoppages from a cyber incident.
Tata Motors' domestic passenger vehicle business (PV+EV) reported Q4 revenue of ₹18.7K Cr, up 49% YoY, with EBITDA margin improving to 9.4% (+150 bps). The company achieved its highest-ever annual sales of over 640,000 units, with EV volumes exceeding 92,000 units, up 43% YoY. Vahan market share grew to 14.2% in Q4, securing the #2 position in H2 FY26.
“Overall, FY26 was a tale of two halves. While domestic business witnessed a strong momentum post GST 2.0, at JLR we witnessed several headwinds including tariffs and the cyber incident. In Q4 FY26, all the consolidated financial metrics improved significantly as JLR operations recovered post the cyber incident and domestic business continued its positive trajectory.”
Why this matters
The results show Tata Motors' domestic resilience amid global headwinds, while JLR's struggles underscore the impact of geopolitical and operational disruptions on profitability.
Terms in This Story
- EBITDA
- Earnings Before Interest, Taxes, Depreciation, and Amortization; a measure of operating profitability.
- EBIT
- Earnings Before Interest and Taxes; operating profit excluding interest and tax expenses.
- PBT
- Profit Before Tax; earnings before income tax expense.
- FCF
- Free Cash Flow; cash generated after capital expenditures, used for dividends or debt reduction.
Summarised from the linked release; details can be imperfect — always verify against the original source.