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India
Reported ownership for FY2027-Q1 as of 2026-06-30.
As of 06 Nov 2026, 03:30 pm
Tata Motors has acquired an 89.42% controlling stake in Iveco Group for nearly €3.43 billion, transforming it into an indirect subsidiary. However, the unit reported a €45 million loss in the July-September quarter, marking its second consecutive quarterly deficit, which presents a significant turnaround challenge alongside the acquisition debt.
Total commercial vehicle sales reached 47,652 units in October 2026, up 27% year-over-year from 37,530 units in October 2025. Domestic sales grew 13% to 39,784 units, while international business sales surged 225% to 7,868 units.
On October 31, 2026, the Board appointed Deloitte Haskins & Sells LLP as the new Statutory Auditor, replacing B S R & Co. LLP. The resignation was driven by the completion of the Iveco acquisition, aiming to align audit firms within the group for synergies and consistency. No concerns were raised by the resigning auditor regarding management.
The stock closed at ₹425.60 with a market capitalization of approximately ₹1,58,010 crore. Immediate resistance sits at ₹428.63 (pivot) and ₹433.26 (high), while support levels are located at ₹423.94 (low) and ₹417.37 (low). The daily trend is bearish, though the monthly trend remains bullish.
As of 06 Nov 2026, 03:30 pm
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The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹18,585 crore | ₹20,667 crore | PEAK₹25,338 crore |
| Expenses | ₹19,296 crore | ₹18,038 crore | PEAK₹24,037 crore |
| Profit Before Exceptional Items And Tax | -₹539 crore | PEAK₹3,025 crore | ₹1,737 crore |
| Profit Before Tax | -₹549 crore | PEAK₹2,946 crore | ₹1,955 crore |
| Profit Loss For Period | -₹867 crore | PEAK₹2,556 crore | ₹1,254 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | -₹2.35 per share | PEAK₹6.95 per share | ₹3.41 per share |
Tata Motors Limited reported Q2 FY2026-27 revenue from operations of ₹25,338 crore, up 22.6% quarter on quarter and 36.3% year on year. Expenses rose 33.3% from Q1, while profit for the period fell 50.9% to ₹1,254 crore and earnings per share declined to ₹3.41 from ₹6.95.
Segment revenue from operations was ₹25,338 crore in Q2. Segment profit before tax declined 32.7% quarter on quarter to ₹1,998 crore from ₹2,970 crore in Q1. Segment finance costs fell to ₹100 crore from ₹135 crore.
Quarterly EPS was ₹3.41 and trailing twelve-month EPS was ₹17.14. The reported price-to-earnings ratio was 24.17 times.
Q2 delivered strong revenue growth, but the faster rise in expenses and higher tax expense accompanied a sharp quarter-on-quarter decline in profit and EPS. Positive operating cash flow and reported free cash flow supported the quarter, while higher inventories, receivables and payables marked notable balance-sheet movements since 31 March.
Disclosed bulk and block transactions involving Tata Motors, shown for the latest 90 days.
Exchange disclosures and regulatory announcements for Tata Motors.
TML CV Holdings B.V., acting through its parent TML CV Holdings Pte. Ltd., reported provisional results for the reopening of its voluntary tender offer for all common shares of Iveco Group N.V. The reopening ended November 6, 2026, with 18,309,029 shares tendered (approximately 6.75%), for aggregate consideration of EUR 263,650,017.60. If confirmed, the offeror will hold 256,466,241 shares, or approximately 96.29% of Iveco’s common share capital net of treasury shares. The offer price is EUR 14.40 per share (cum dividend), and payment for shares tendered during the reopening is scheduled for November 13, 2026. If the provisional results are confirmed, the offeror said it will commence a Dutch legal squeeze-out for the remaining outstanding shares; timing and terms will be announced separately. Final reopening results are to be announced by 7:29 a.m. CET on November 12, 2026.
Tata Motors Limited reported total commercial-vehicle sales of 47,652 units in October 2026 across domestic and international markets, up 27% year over year from 37,530 units in October 2025. Domestic sales were 39,784 units, up 13%, while international business sales were 7,868 units, up 225%.
Tata Motors Limited’s Board of Directors, in a meeting held on October 31, 2026, approved the appointment of M/s. Deloitte Haskins & Sells LLP as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s. B S R & Co. LLP. The change is effective from October 31, 2026, subject to member approval at the next Annual General Meeting. The resignation of B S R & Co. LLP, which had been appointed for a five-year term ending in 2030, was driven by the completion of Tata Motors' acquisition of Iveco Group N.V., with the aim of aligning audit firms within the group for synergies and consistency.
On October 31, 2026, the Board of Directors of Tata Motors Limited approved the appointment of M/s. Deloitte Haskins & Sells LLP as Statutory Auditors to fill a casual vacancy caused by the resignation of M/s. B S R & Co. LLP, effective October 31, 2026, subject to member approval. The resignation of B S R & Co. LLP took effect on October 30, 2026, following the completion of the Company's acquisition of Iveco Group N.V., with the stated reason being the alignment of auditors within the group for synergies and consistency. No concerns were raised by the resigning auditor regarding management.
Tata Motors Limited (NSE: TMCV) informed the National Stock Exchange on October 31, 2026, of a change in its Statutory Auditor following a Board Meeting held that day. B S R & Co. LLP resigned from the position effective October 30, 2026, having been appointed on September 26, 2025, with a scheduled term expiration of August 31, 2030. The resigning auditor completed and issued audit reports for the quarter ended September 30, 2026, dated October 23, 2026. Deloitte Haskins & Sells LLP was appointed as the new Statutory Auditor for a term of 10 months.
Tata Motors Limited has informed the Exchange about Resignation of Statutory Auditor |SUBJECT: Resignation of Statutory Auditor
Tata Motors Limited reported that its step-down subsidiary, TML CV Holdings B.V., acquired shares in Iveco Group N.V. through a tender offer, with the event dated 30 October 2026. The filing reports cash consideration of INR 363,866,100,000, paid to shareholders who tendered shares. It states that the acquisition was conducted at arm’s length and that the transaction would be in tranches. The filing identifies required governmental or regulatory approvals but refers to earlier materials for details.
On October 30, 2026, Tata Motors Limited’s Allotment Committee approved allotment of 41,981 fully paid equity shares of ₹2 each to eligible employees under the Tata Motors Limited Share-based Long Term Incentive Scheme, following exercise of 41,981 Performance Share Units at an exercise price of ₹2 per share. The allotment increased paid-up equity share capital from ₹7,36,55,78,704 (3,68,27,89,352 shares) to ₹7,36,56,62,666 (3,68,28,31,333 shares). The new shares rank pari passu with existing equity shares.
Recent market and company developments associated with Tata Motors.
Major automakers including Maruti Suzuki, Tata Motors, and Hyundai reported strong vehicle deliveries on Dhanteras, building on robust Navratri sales with demand holding across two-wheeler, passenger, and commercial segments. Industry executives noted that festive momentum is expected to continue through Diwali, supported by positive market sentiment and significant year-on-year growth in both new and pre-owned car markets.
Major Indian automakers including Maruti Suzuki, Tata Motors, Mahindra & Mahindra, and Hyundai reported robust vehicle deliveries on Dhanteras, signaling strong festive season demand. Maruti Suzuki delivered over 30,000 units while Tata Motors crossed 12,000, with both companies noting significant year-on-year retail growth since Ganesh Chaturthi. Mahindra & Mahindra highlighted its position as the fastest-growing SUV brand during the period, operating at full capacity with near-zero physical inventory.
Jewellers anticipate a 20-30% rise in gold and silver sales value for Dhanteras 2026, driven by price corrections from January peaks and festive demand, though volume growth is expected to remain flat as consumers shift toward lightweight jewellery. Industry leaders note that while younger buyers are increasingly favoring silver due to affordability, wedding-related purchases and salary inflows are supporting overall market activity despite concerns over inflation and geopolitical uncertainties.
Tata Motors has assumed control of Iveco, which reported a €45 million loss in the July-September quarter, marking its second consecutive quarterly deficit this year. This development presents a significant challenge for Tata as it must manage the turnaround while carrying acquisition debt and adhering to conditions that restrict immediate restructuring.
Karvy Stock Broking has advised traders to buy Tata Motors shares around the Rs 745-750 price range, setting a stoploss at Rs 735 and targeting levels between Rs 765 and Rs 775. This trading recommendation is valid for a short-term period of one to two days.
CERT-In has flagged security vulnerabilities in Tata Motors' iRA 2.0 and iRA.ev mobile applications, citing risks such as hardcoded credentials and improper SSL pinning that could allow unauthorized access to vehicle-related data. Tata Motors stated that these issues were addressed through mandatory software updates rolled out in August and September 2026, with no evidence of actual data compromise or unauthorized access.
Tata Sons Chairman N Chandrasekaran met Italian Prime Minister Giorgia Meloni to discuss the strategic industrial ties between India and Italy following Tata Motors' acquisition of an 89.42 per cent controlling stake in Iveco Group for nearly 3.43 billion euros. The meeting highlighted the Indian government's gratitude for the support received from Italian authorities during the transaction, which transforms Iveco into an indirect subsidiary of Tata Motors. This development positions the combined entity as a global commercial vehicle powerhouse with operations in over 130 countries and combine
Tata Sons Chairman N Chandrasekaran met Italian Prime Minister Giorgia Meloni in Rome to discuss the strategic industrial ties strengthened by Tata Motors' acquisition of an 89.42% stake in Iveco Group for €3.43 billion. The meeting highlighted the Indian conglomerate's gratitude for government support during the transaction, which positions the combined entities as a global commercial vehicle powerhouse with operations in over 130 countries and combined revenues of €21 billion.
Comprehensive Section Breakdown for Tata Motors
Strategic Vision: Manufactures and sells commercial and passenger vehicles globally.
• Engineering capabilities and manufacturing operations
• Ecosystem of services and solutions for commercial vehicles
• Diverse product portfolio catering to various mobility needs
Revenue from operations increased from ₹20,667 crore in Q1 FY2026-27 to ₹25,338 crore in Q2. Total expenses rose to ₹24,037 crore from ₹18,038 crore. Q2 expenses included ₹14,826 crore of materials consumed, ₹2,994 crore of purchases of stock in trade, ₹1,580 crore of employee benefit expense and ₹539 crore of depreciation and amortisation.
The faster quarter-on-quarter increase in expenses than revenue coincided with lower pre-exceptional profit, despite the substantial revenue growth.
Profit before exceptional items and tax declined 42.6% quarter on quarter to ₹1,737 crore from ₹3,025 crore. Q2 included an exceptional gain of ₹218 crore, compared with an exceptional charge of ₹79 crore in Q1. Profit before tax was ₹1,955 crore, down from ₹2,946 crore.
Tax expense increased to ₹744 crore from ₹414 crore, while finance costs declined to ₹100 crore from ₹135 crore. Profit for the period was ₹1,254 crore; profit attributable to owners of the parent was ₹1,257 crore. EPS was ₹3.41, versus ₹6.95 in Q1.
Operating cash flow was ₹4,464 crore in Q2. Investing activities used ₹1,573 crore and financing activities used ₹3,829 crore; reported free cash flow was ₹2,891 crore.
At 30 September 2026, cash and cash equivalents stood at ₹5,828 crore, compared with ₹6,899 crore at 31 March 2026. Current investments were ₹4,337 crore at quarter-end. Inventories rose to ₹8,217 crore from ₹5,448 crore and trade receivables to ₹3,620 crore from ₹2,721 crore over the same dates. Trade payables increased to ₹20,265 crore from ₹15,704 crore, and current liabilities reached ₹33,369 crore.
Total equity was ₹15,363 crore at 30 September, up from ₹12,734 crore at 31 March; total liabilities were ₹42,090 crore at quarter-end.
Category: Manufacturing
This segment focuses on manufacturing trucks and buses, serving cargo and public transportation needs, and supporting national commerce and infrastructure.
Category: Manufacturing
This segment encompasses passenger cars, utility vehicles, and electric vehicles, known for their design, features, and safety standards.
Key Products & Services: Jaguar Land Rover
Core Thesis: The company offers a diverse portfolio of mobility solutions across commercial and passenger vehicles, including electric and luxury segments.
• Commercial Vehicles Operations: Underpinned by engineering capabilities, manufacturing operations, and an ecosystem of services and solutions designed to enhance efficiency and reliability. • Passenger Vehicles Offerings: Includes passenger cars, utility vehicles, and electric vehicles known for their design, features, and safety standards. • Luxury Automotive Brand: Owns Jaguar Land Rover, contributing to its premium passenger vehicle offerings.