Tata Motors Ltd, the commercial vehicle arm of Tata Group, reported a standalone profit after tax (PAT) of ₹2,400 crore for the fourth quarter of FY26, marking a sharp 70% year-on-year increase, driven by strong operational performance and profitable growth.
Quarterly revenue stood at ₹24,500 crore, up 22%, while EBITDA rose 35% to ₹3,400 crore. The company said the record Q4 performance was supported by disciplined execution, operational efficiencies and a continued focus on profitability.
FY26 revenue up 11%
For the full year FY26, standalone revenue increased 11% to ₹77,400 crore. EBITDA climbed 22% to ₹10,200 crore, with EBITDA margin improving to 13.2%.
However, annual PAT declined 23% to ₹3,400 crore due to exceptional items amounting to ₹3,700 crore. These included mark-to-market losses related to listed investments in Tata Capital, costs linked to the new labour code and demerger-related expenses.
Sees sustained growth momentum
Tata Motors Managing Director and CEO Girish Wagh said the company remains well positioned to sustain growth momentum despite external challenges.
“With strong business fundamentals, proactive risk mitigation, disciplined execution and a refreshed portfolio offering industry-leading TCO and smart digital solutions, we remain agile and well positioned to sustain momentum through customer-centric solutions to create long-term stakeholder value,” he said.
Strong free cash flow generation
The company also reported strong free cash flow generation during the year. Efficient working capital management helped Tata Motors deliver full-year free cash flow of ₹9,200 crore, while net cash for the domestic business stood at ₹7,500 crore as of March 31, 2026.
Chief Financial Officer GV Ramanan said the company’s healthy balance sheet provides flexibility for future investments and shareholder returns.
To pursue disciplined capital allocation
“Our robust cash position gives us the flexibility to pursue disciplined capital allocation while continuing to deliver meaningful returns to shareholders. While near-term headwinds including commodity cost pressures are expected to persist, we remain confident in our ability to navigate these challenges through operational efficiency, pricing discipline, and proactive supply chain management,” he said.
Wholesales drive growth
CV wholesales for Q4 FY26 stood at 132,000 units, up 25% year-on-year. For the full fiscal, total CV wholesales rose 14% to 428,000 units. Domestic and export volumes increased 12% and 54%, respectively.
The company’s domestic CV VAHAN market share for FY26 stood at 35.7%, with strong positioning across segments including HCV at 55%, ILMCV at 39.5%, SCV at 26.8% and passenger carriers at 36.4%.
Launches 17 trucks in FY26
During the year, Tata Motors launched 17 next-generation trucks aimed at improving safety, profitability and operational efficiency. It also introduced the Ace Pro range, positioned as India’s most affordable four-wheel mini-truck targeting small entrepreneurs.
The company secured its largest-ever international order for 70,000 Yodha and Ultra T.7 vehicles for deployment in Indonesia. It also won pan-India orders exceeding 5,000 buses from multiple state transport undertakings. In manufacturing excellence, the Pantnagar plant received the prestigious Golden Peacock award for quality.
Iveco acquisition progressing
On the proposed acquisition of Iveco Group, Tata Motors said most regulatory approvals have already been received, while the remaining approvals are being actively pursued. The company expects the transaction to be completed by Q2 FY27.
Board recommends dividend
The Board of Directors has recommended a final dividend of ₹4 per share for FY26, subject to shareholder approval.