# TMPV (TMPV) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/tmpv

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹285.85
- Change: +0.49%
- As of: 2026-10-13
- 1D return: +0.49%
- 5D return: +0.02%
- 1M return: -5.06%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-12_

### Technical Outlook

As of October 12, 2026, the stock is exhibiting a mixed technical picture with a bearish daily and weekly trend structure conflicting with a bullish monthly trend. Daily and weekly timeframes show the price trading below key moving averages and the Supertrend indicator, suggesting short-term weakness. The daily trend strength, measured by ADX at 24.31, is developing, while the weekly ADX at 24.73 also indicates developing trend conviction. Momentum appears to be deteriorating, with negative slopes across daily and weekly moving averages and recent negative returns, including a -15.8% return over the last three months. The stock is positioned in the lower-middle part of its 20-day range (+25.5%) and near the lower end of its 50-day (+15.1%) and 252-day (+8.3%) ranges. This positioning, combined with a current drawdown of -31.8% and annualized volatility of +31.2%, highlights elevated risk.

The primary risk in the near term is the potential for further downside, with the nearest support at ₹282.37 (0.73% below the current price). A break below this level could signal further weakness. Conversely, a sustained move above the nearest resistance at ₹284.83 (0.13% above the current price) would be needed to challenge the bearish short-term setup. Confirmation of the bearish trend would involve a sustained break below ₹276.02, while a decisive move above ₹290.4 would suggest a potential shift in the short-term trend.

- Mixed daily/weekly bearish trend versus bullish monthly trend.
- Developing trend strength (ADX 24.31 daily, 24.73 weekly) with negative momentum and lower-range positioning.
- Elevated risk indicated by -31.8% drawdown and +31.2% annualized volatility.
- Nearest support at ₹282.37 (-0.73%) and resistance at ₹284.83 (+0.13%).
- Confirmation of bearish setup below ₹276.02; invalidation above ₹290.4.

- Inside Bar
- Doji
- Harami
- Hammer

### News Context

Ahead of anticipated second-quarter results, Tata Motors PV was mentioned in market discussions regarding potential share price targets. Separately, industry-wide concerns about price hikes potentially impacting sales momentum were noted. Dealers have flagged that price increases, alongside possible interest rate adjustments by the Reserve Bank of India, could influence the market outlook in the coming months. Live stock updates for Tata Motors PV were also available, providing access to quotes, news, and financial details.

- On 2026-10-08, Tata Motors PV was included in market discussions about share price targets in anticipation of Q2 results.
- Industry dealers expressed concern on 2026-10-06 that price hikes could pose a risk to sales, especially in light of potential Reserve Bank of India rate adjustments.
- Live stock market updates for Tata Motors PV were accessible on 2026-10-06, offering real-time quotes and company information.

- [Tata Motors PV, Ather Energy, Hyundai, M&M: Share price targets ahead of Q2 results](https://www.businesstoday.in/markets/stocks/story/tata-motors-pv-ather-energy-hyundai-mm-share-price-targets-ahead-of-q2-results-560271-2026-10-08)
- [Dealers flag price hikes as risk to GST-led sales boom | Mint](https://www.livemint.com/industry/dealers-car-price-hikes-gst-cuts-festive-season-11791265195880.html)
- [Tata Motors PV Share Price Today, Tata Motors PV Stock Price Live NSE/BSE Updates | The Economic Times](https://economictimes.indiatimes.com/tata-motors-passenger-vehicles-ltd/stocks/companyid-12934.cms)

### What Changed

As of October 12, 2026, Tata Motors Passenger Vehicles (TMPV) on the BSE has seen a slight increase in its stock price. The previous closing price was ₹279.9 on an unspecified prior date, and the current price is ₹284.45 as of October 12, 2026. The company's profile and exchange listing on the BSE remain unchanged from prior context.

- Stock price increased to ₹284.45 on October 12, 2026, from a previous price of ₹279.9.
- Company remains listed on the BSE.

### Official Filings

Tata Motors Passenger Vehicles Limited (TMPVL) has provided updates on its financial obligations and corporate governance. As of September 30, 2026, the company reported three outstanding private placements totaling ₹1,200 crore, with coupon rates ranging from 7.08% to 7.65% and maturities in March and May 2028. This disclosure was a routine periodic update on listed debt securities. Additionally, TMPVL confirmed that its Commercial Paper issuance and outstanding amounts were NIL as of September 30, 2026, with no material changes affecting its credit ratings or related-party investments. The company also disclosed its Compliance Officer, Mr. Maloy Kumar Gupta, and its Registrar and Share Transfer Agent, MUFG Intime India Private Limited. In other news, TMPVL informed the exchange about press releases concerning Jaguar Land Rover's (JLR) wholesale and retail sales for Q2 FY27 and TMPVL's total sales for Q2 FY27. Separately, the exchange sought clarification from TMPVL regarding a news item about trusts' proposals impacting Tata Sons' listing hopes, to which the company has provided a response.

- As of September 30, 2026, TMPVL had three outstanding private placements totaling ₹1,200 crore with coupon rates between 7.08% and 7.65%.
- TMPVL reported NIL Commercial Paper issuance and outstanding amounts as of September 30, 2026.
- Mr. Maloy Kumar Gupta continues as Compliance Officer; MUFG Intime India Private Limited is the Registrar and Share Transfer Agent.
- TMPVL announced press releases regarding Q2 FY27 sales for both Jaguar Land Rover and its own passenger vehicles division.
- The company responded to an exchange query concerning news about Tata Sons' listing prospects.

- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026134043_NSEBSEDebt-TMPVL-final.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about SIAM Report July to September 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_06102026151209_NSEBSESIAM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026164005_CP_Quarterly_Report__CFO__-_Q2_FY27_TMPVL_06102026.pdf)
- [Disclosure under Regulation 6(1) |SUBJECT: Disclosure under Regulation 6(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174237_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Disclosure under Regulation 7(1) |SUBJECT: Disclosure under Regulation 7(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174516_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_05102026175945_NSEBSEReg74.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange regarding a press release dated October 03, 2026, titled "Jaguar Land Rover Automotive plc ( JLR ) reports its Wholesale and Retail Sales for Q2 FY27". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_03102026162550_NSEBSEJLR.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange regarding a press release dated October 01, 2026, titled "Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) total sales in Q2 FY27". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_01102026131705_NSEBSEQ2FY27.pdf)
- [The Exchange has sought clarification from Tata Motors Passenger Vehicles Limited with respect to recent news item captioned Tata Chemicals, TMPV shares fall up to 3% after Trusts' proposal dims Tata Sons' listing hopes. The response from the Company is awaited. |SUBJECT: News Verification](https://nsearchives.nseindia.com/content/RSS/Online_announcements.xml)
- [The Exchange has sought clarification from Tata Motors Passenger Vehicles Limited with respect to recent news item captioned Tata Chemicals, TMPV shares fall up to 3% after Trusts' proposal dims Tata Sons' listing hopes. The response from the Company is attached. |SUBJECT: News Verification](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_29092026214058_NSE_PVRumourVerification.pdf)

### Fundamentals

Tata Motors Passenger Vehicles reported a sequential decrease in revenue from operations for Q1 FY2026-27, which stood at ₹95,799 crore, down from ₹1,05,447 crore in Q4 FY2025-26. This revenue decline was accompanied by a significant reduction in profit before tax, falling to ₹1,558 crore from ₹7,143 crore in the prior quarter. Consequently, net profit also saw a substantial sequential decrease, reaching ₹859 crore in Q1 FY2026-27 compared to ₹5,878 crore in Q4 FY2025-26. While expenses also decreased sequentially from ₹1,00,047 crore to ₹95,338 crore, the reduction in revenue outpaced expense cuts, leading to lower profitability. Finance costs saw a sequential increase from ₹767 crore to ₹835 crore.

- Revenue from operations decreased sequentially to ₹95,799 crore in Q1 FY2026-27.
- Net profit saw a significant sequential decline, falling to ₹859 crore from ₹5,878 crore.
- Profit before tax decreased to ₹1,558 crore in Q1 FY2026-27 from ₹7,143 crore in Q4 FY2025-26.
- The next checkpoint to monitor is the sustainability of revenue and profit margins in the upcoming reporting period.

### Bull Case

The company's monthly technical trend indicates a bullish SuperTrend direction, suggesting a potentially positive long-term outlook. However, daily and weekly trends are currently bearish, with negative slopes on moving averages and a bearish SuperTrend direction. The stock has experienced significant drawdowns, with a current drawdown of -31.8% and a maximum drawdown of -34.5% from its peak. Recent returns over various periods are also negative, including a -15.8% return over the last 3 months and -17.0% over the last 6 months. The stock is trading near its nearest support level of ₹282.37, which is 0.73% below the current price of ₹284.45.

- Monthly SuperTrend direction is bullish.
- Current drawdown stands at -31.8%.
- Nearest support level identified at ₹282.37.

- [Tata Motors PV Share Price Today, Tata Motors PV Stock Price Live NSE/BSE Updates | The Economic Times](https://economictimes.indiatimes.com/tata-motors-passenger-vehicles-ltd/stocks/companyid-12934.cms)
- [Tata Motors PV, Ather Energy, Hyundai, M&M: Share price targets ahead of Q2 results](https://www.businesstoday.in/markets/stocks/story/tata-motors-pv-ather-energy-hyundai-mm-share-price-targets-ahead-of-q2-results-560271-2026-10-08)
- [Dealers flag price hikes as risk to GST-led sales boom | Mint](https://www.livemint.com/industry/dealers-car-price-hikes-gst-cuts-festive-season-11791265195880.html)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026134043_NSEBSEDebt-TMPVL-final.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about SIAM Report July to September 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_06102026151209_NSEBSESIAM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026164005_CP_Quarterly_Report__CFO__-_Q2_FY27_TMPVL_06102026.pdf)
- [Disclosure under Regulation 6(1) |SUBJECT: Disclosure under Regulation 6(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174237_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Disclosure under Regulation 7(1) |SUBJECT: Disclosure under Regulation 7(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174516_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_05102026175945_NSEBSEReg74.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange regarding a press release dated October 03, 2026, titled "Jaguar Land Rover Automotive plc ( JLR ) reports its Wholesale and Retail Sales for Q2 FY27". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_03102026162550_NSEBSEJLR.pdf)

### Bear Case

The company's daily technical indicators suggest a bearish trend, with the Supertrend direction noted as bearish. This is further supported by a negative EMA 20 slope of -6.14 and an SMA 20 slope of -6.12 over a 5-day period. Over longer timeframes, the company has experienced significant negative returns, including a -15.8% return over 3 months and a -17.0% return over 6 months. The year-to-date return stands at -22.6%, and the return since the start of trading is -29.5%. Volatility remains a concern, with annualized volatility at +31.2% and a maximum drawdown of -34.5%. The current drawdown is -31.8%. Nearby support levels are identified at 282.37 (0.73% below current price) and 278.48 (2.10% below current price), while resistance is noted at 284.83 (0.13% above current price). Generic market commentary highlights potential risks from price hikes and possible interest rate increases by the Reserve Bank of India, which could impact sales.

- Daily technical trend is currently bearish, with negative slopes on short-term moving averages.
- Significant negative returns observed over 3-month (-15.8%) and 6-month (-17.0%) periods.
- Year-to-date return is -22.6%, with a cumulative return since inception of -29.5%.
- High annualized volatility of +31.2% and a maximum drawdown of -34.5% indicate elevated risk.
- Nearest support levels are at ₹282.37 and ₹278.48, with immediate resistance at ₹284.83.

- [Tata Motors PV Share Price Today, Tata Motors PV Stock Price Live NSE/BSE Updates | The Economic Times](https://economictimes.indiatimes.com/tata-motors-passenger-vehicles-ltd/stocks/companyid-12934.cms)
- [Tata Motors PV, Ather Energy, Hyundai, M&M: Share price targets ahead of Q2 results](https://www.businesstoday.in/markets/stocks/story/tata-motors-pv-ather-energy-hyundai-mm-share-price-targets-ahead-of-q2-results-560271-2026-10-08)
- [Dealers flag price hikes as risk to GST-led sales boom | Mint](https://www.livemint.com/industry/dealers-car-price-hikes-gst-cuts-festive-season-11791265195880.html)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026134043_NSEBSEDebt-TMPVL-final.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about SIAM Report July to September 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_06102026151209_NSEBSESIAM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026164005_CP_Quarterly_Report__CFO__-_Q2_FY27_TMPVL_06102026.pdf)
- [Disclosure under Regulation 6(1) |SUBJECT: Disclosure under Regulation 6(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174237_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Disclosure under Regulation 7(1) |SUBJECT: Disclosure under Regulation 7(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174516_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_05102026175945_NSEBSEReg74.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange regarding a press release dated October 03, 2026, titled "Jaguar Land Rover Automotive plc ( JLR ) reports its Wholesale and Retail Sales for Q2 FY27". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_03102026162550_NSEBSEJLR.pdf)

### FAQs

**What is the current technical trend for Tata Motors Passenger Vehicles (TMPV) based on daily and weekly indicators?**

As of October 12, 2026, the daily trend for TMPV indicates a 'bearish' direction, with the Super Trend indicator showing a bearish signal. This is supported by a negative EMA 20 slope of -6.14 and an ADX of 24.31. The weekly trend also shows a 'bearish' Super Trend direction, with a more pronounced negative EMA 20 slope of -19.82 and an ADX of 24.73.

**What are the key support and resistance levels for TMPV as of October 12, 2026?**

As of October 12, 2026, key support levels for TMPV are identified at ₹282.37 (0.73% below current price), ₹278.48 (2.10% below current price), and ₹276.02 (2.96% below current price). Key resistance levels are noted at ₹284.83 (0.13% above current price), ₹288.72 (1.50% above current price), and ₹320.20 (12.57% above current price).

**What was the status of TMPV's debt and commercial paper as of September 30, 2026?**

As of September 30, 2026, Tata Motors Passenger Vehicles Limited reported three outstanding private placements of listed debt securities totaling ₹1,200 crore. These include INE155A08456 (₹700 crore, 7.65% coupon, maturing March 24, 2028), INE155A08480 (₹300 crore, 7.08% coupon, maturing May 11, 2028), and INE155A08472 (₹200 crore, 7.08% coupon, maturing May 12, 2028). The company also reported NIL Commercial Paper issuance and outstanding amount for the period July to September 2026.

**What are TMPV's recent period returns as of October 12, 2026?**

As of October 12, 2026, TMPV's recent period returns include +1.6% for the last 1 day, -5.5% for the last 1 month, -15.8% for the last 3 months, and -22.6% year-to-date (YTD). Over longer periods, the returns are -2.1% for 10 days, -1.5% for 5 days, -17.0% for 6 months, and -29.5% since the start.

- [Tata Motors PV Share Price Today, Tata Motors PV Stock Price Live NSE/BSE Updates | The Economic Times](https://economictimes.indiatimes.com/tata-motors-passenger-vehicles-ltd/stocks/companyid-12934.cms)
- [Tata Motors PV, Ather Energy, Hyundai, M&M: Share price targets ahead of Q2 results](https://www.businesstoday.in/markets/stocks/story/tata-motors-pv-ather-energy-hyundai-mm-share-price-targets-ahead-of-q2-results-560271-2026-10-08)
- [Dealers flag price hikes as risk to GST-led sales boom | Mint](https://www.livemint.com/industry/dealers-car-price-hikes-gst-cuts-festive-season-11791265195880.html)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026134043_NSEBSEDebt-TMPVL-final.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about SIAM Report July to September 2026. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_06102026151209_NSEBSESIAM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026164005_CP_Quarterly_Report__CFO__-_Q2_FY27_TMPVL_06102026.pdf)
- [Disclosure under Regulation 6(1) |SUBJECT: Disclosure under Regulation 6(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174237_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Disclosure under Regulation 7(1) |SUBJECT: Disclosure under Regulation 7(1)](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174516_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_05102026175945_NSEBSEReg74.pdf)
- [Tata Motors Passenger Vehicles Limited has informed the Exchange regarding a press release dated October 03, 2026, titled "Jaguar Land Rover Automotive plc ( JLR ) reports its Wholesale and Retail Sales for Q2 FY27". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_03102026162550_NSEBSEJLR.pdf)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹282.67
- Risk regime: Higher Price Risk

### Support levels
- 272.6
- 279.58333333333337
- 274.7166666666667

### Resistance levels
- 290.4
- 320.2
- 330.1

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.49% |
| return_10 | +1.46% |
| return_1m | -5.06% |
| return_20 | -5.06% |
| return_3m | -16.48% |
| return_5 | +0.02% |
| return_6m | -17.26% |
| return_since_start | -29.12% |
| return_ytd | -22.23% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -34.53% |
| annualized_volatility | +31.14% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Decline Outpaces Expense Reduction, Driving Net Profit Down 78% Year-on-Year

Tata Motors Passenger Vehicles Limited (TMPV) opened its fiscal year with a sharp contraction in earnings, as a steep fall in revenue was only partially offset by lower expenses. Net profit fell to ₹859 crore in the June 2026 quarter, down 85% from the March 2026 quarter and 79% from the same period a year ago. The expense-to-revenue ratio climbed to nearly 100%, leaving only a thin cushion of profit.

## Revenue and Expenses

Revenue from operations was ₹95,799 crore in the quarter ended June 30, 2026. That was 9.2% lower than the ₹1,05,447 crore recorded in the March 2026 quarter and 8.2% below the ₹1,04,407 crore in the June 2025 quarter. Total expenses fell to ₹95,338 crore, down 4.7% sequentially and 5.1% year-on-year.

Because the revenue drop was larger than the expense reduction, the share of revenue absorbed by costs increased. In the June 2025 quarter, expenses used up 96.2% of revenue; in the latest quarter, that ratio rose to 99.5%, squeezing the room for profit.

## Profitability

Profit before tax was ₹1,558 crore, down 78.2% from ₹7,143 crore in the March 2026 quarter and down 71.3% from ₹5,429 crore a year earlier. After tax, net profit fell even more steeply: a sequential decline of 85.4% and a year-on-year drop of 78.5%. The net profit margin contracted from 3.8% in the June 2025 quarter to 0.9% in the June 2026 quarter, reflecting the pressure of a smaller revenue base against costs that did not shrink in proportion.

## Finance Costs and Tax

Finance costs rose to ₹835 crore, an 8.9% increase from ₹767 crore in the March 2026 quarter, though they were 11.0% lower than the ₹938 crore incurred in the year-ago period. Tax expense fell to ₹715 crore from ₹1,399 crore in the prior quarter and ₹1,558 crore a year ago, consistent with a much smaller pre-tax profit.

## Segment Performance

TMPV’s segment revenue matched total revenue at ₹95,799 crore. Segment profit before tax was ₹1,574 crore, very close to the overall pre-tax profit of ₹1,558 crore, indicating that almost all profits come from the main operating segment. Inter-segment revenue was ₹526 crore, up slightly from ₹497 crore in the March 2026 quarter but down from ₹575 crore a year earlier.

## Management Commentary

TMPVL delivered a resilient but mixed Q1 FY27. Consolidated revenue rose 9.3% YoY to ₹95.8K Cr, but EBITDA margin fell 130 bps to 7.4% and PBT(bei) was ₹1.6K Cr; consolidated FCF was negative ₹11.8K Cr due to seasonal working capital. JLR was the drag: wholesales fell 9.2% YoY on temporary supply constraints, the Middle East conflict and Jaguar wind-down, with retail VME jumping from 4.1% to 7.1%. Tata PV outperformed, with revenue up 64.8% to ₹17.9K Cr, volumes up 46% and record EV volumes.

Management's outlook is cautiously positive. They expect JLR's upcoming BEV launch pipeline to drive growth through a transition year, while Tata PV will lean on strong demand, rising EV/CNG penetration, debottlenecking and capacity expansion. Management acknowledged elevated commodities/FX and geopolitical/luxury trends as key monitorables, and outlined cost cuts, calibrated price actions and long-term targets of nearly doubling volumes, 20% market share and double-digit EBITDA margins.

## Key Takeaway

The June 2026 quarter saw a significant revenue decline that outpaced the reduction in expenses, pushing the expense-to-revenue ratio to near 100%. While the company remained profitable, the sharp drop in net profit relative to both the preceding quarter and the same quarter a year ago marks a substantial deterioration in quarterly earnings.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +42.51%
- FII holding: +17.11%
- DII holding: +16.97%
- Mutual fund holding: +10.05%
- Retail holding: +18.14%
- Promoter pledged: +0.00%

### Major reported shareholders

- Tata Sons Private Limited — +40.14% (Bodies Corporate)
- Life Insurance Corporation Of India — +4.75%
- Icici Prudential Value Fund — +2.86%
- Sbi Nifty 50 Etf — +2.27%
- Tata Industries Limited — +1.96% (Bodies Corporate)
- Rekha Jhunjhunwala — +1.33%
- Tata Investment Corporation Limited — +0.30% (Bodies Corporate)
- Ewart Investments Limited — +0.09% (Bodies Corporate)
- The Tata Power Company Limited — +0.01% (Bodies Corporate)

## Official filings

- 2026-10-12 — Press Release: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_12102026155833_NSEBSETraverse.pdf)
- 2026-10-06 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026134043_NSEBSEDebt-TMPVL-final.pdf)
- 2026-10-06 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_06102026151209_NSEBSESIAM.pdf)
- 2026-10-06 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_06102026164005_CP_Quarterly_Report__CFO__-_Q2_FY27_TMPVL_06102026.pdf)
- 2026-10-05 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174237_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- 2026-10-05 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/TATAMOTORSSJS_05102026174516_NSEBSELETTER_PV_Reg_6_and_7.pdf)
- 2026-10-05 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_05102026175945_NSEBSEReg74.pdf)
- 2026-10-03 — Press Release: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_03102026162550_NSEBSEJLR.pdf)
- 2026-10-01 — Press Release: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_01102026131705_NSEBSEQ2FY27.pdf)
- 2026-09-29 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/content/RSS/Online_announcements.xml)
- 2026-09-29 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_29092026214058_NSE_PVRumourVerification.pdf)
- 2026-09-22 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_211_WebXMLFile_20260922_113832784.xml)
- 2026-09-22 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_22092026113718_NSEBSELETTERtradingwindowPV.pdf)
- 2026-09-21 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_21092026170046_NSEBSEESOP.pdf)
- 2026-09-21 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_21092026173507_NSEESGRATING.pdf)
- 2026-09-21 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_211_WebXMLFile_20260921_181323925.xml)
- 2026-09-08 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_211_WebXMLFile_20260908_153604775.xml)
- 2026-09-07 — Press Release: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_07092026151058_NSEBSEJLR.pdf)
- 2026-09-07 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_07092026153638_NSEESGRATING.pdf)
- 2026-09-07 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_07092026205406_LetterNSEBSEAnalystMeet.pdf)
- 2026-09-01 — Press Release: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_01092026131220_AugSalesRelease.pdf)
- 2026-08-28 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_28082026183123_LetterNSEBSEAnalystMeet.pdf)
- 2026-08-28 — Generic Announcement: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_211_WebXMLFile_20260828_192631271.xml)
- 2026-08-25 — Press Release: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_25082026170822_NSEBSEPressRelease.pdf)
- 2026-08-21 — Press Release: Tata Motors Passenger Vehicles Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_21082026084714_NSEBSEPriceHike.pdf)

## News and market events

- 2026-10-13 — Economic Times: **Tata Motors PV Share Price Today, Tata Motors PV Stock Price Live NSE/BSE Updates | The Economic Times** — Tata Motors PV Share Price Today - Get live NSE/BSE quotes of Tata Motors PV with latest news, headlines and quick analysis. View forecasts, quarterly results, dividend details, balance sheet & more. — [Source](https://economictimes.indiatimes.com/tata-motors-passenger-vehicles-ltd/stocks/companyid-12934.cms)
- 2026-10-12 — The Hindu: **Stellantis and Tata Motors Passenger Vehicles broaden partnership to develop vehicles in Pune** — Stellantis and Tata Motors expand Pune-based collaboration to co-develop advanced vehicle tech for global markets. — [Source](https://www.thehindubusinessline.com/companies/stellantis-and-tata-motors-passenger-vehicles-broaden-partnership-to-develop-vehicles-in-pune/article71574881.ece)
- 2026-10-12 — The Hindu: **Tata Motors, Stellantis deepen partnership to develop global vehicles in India** — Stellantis and Tata Motors deepen India-based collaboration to develop and export advanced vehicles for over 50 global markets. — [Source](https://www.thehindu.com/business/Industry/tata-motors-stellantis-deepen-partnership-to-develop-global-vehicles-in-india/article71574776.ece)
- 2026-10-08 — BUSINESSTODAY: **Tata Motors PV, Ather Energy, Hyundai, M&M: Share price targets ahead of Q2 results** — Ather Energy share price, TMPV share price, M&M share price, Ashok Leyland share price, Auto stocks to but, Ather Energy price target 2026 — [Source](https://www.businesstoday.in/markets/stocks/story/tata-motors-pv-ather-energy-hyundai-mm-share-price-targets-ahead-of-q2-results-560271-2026-10-08)
- 2026-10-06 — Mint: **Dealers flag price hikes as risk to GST-led sales boom | Mint** — Price hikes and potential rate hikes by the Reserve Bank of India will shape the outlook in the coming months, says Fada president. — [Source](https://www.livemint.com/industry/dealers-car-price-hikes-gst-cuts-festive-season-11791265195880.html)
- 2026-10-01 — MONEYCONTROL: **Bajaj Auto crashes 8%, auto stocks slide on weak September sales; Maruti, M&M among top losers, Hyundai gains** — monthly auto sales, automobile stocks update, auto shares today, nifty auto falls, car and bike sales — [Source](https://www.moneycontrol.com/news/business/markets/bajaj-auto-crashes-8-auto-stocks-slide-on-weak-september-sales-maruti-m-m-among-top-losers-hyundai-gains-14042580.html)
- 2026-09-30 — DECCANCHRONICLE.COM: **CAFE-III Norms To Boost Fuel Efficiency, Green Cars** — The CAFE-III framework does away with a proposed special concession for small petrol cars: Reports — [Source](https://www.deccanchronicle.com/nation/cafe-iii-norms-to-boost-fuel-efficiency-green-cars-1992040)
- 2026-09-30 — Mint: **Mint Explainer: The catch behind BaaS-powered EVs with lower upfront costs | Mint** — Carmakers are offering batteries as a service (BaaS) to make electric vehicles cheaper. But does it have any real advantages for consumers? — [Source](https://www.livemint.com/auto-news/mint-explainer-the-catch-behind-cheaper-baas-powered-evs-11790764819890.html)
- 2026-09-30 — NEWS.WEBINDIA123.COM: **India auto sales gain momentum in September but tractors lag: Jefferies** — Indias automobile sector is expected to see broad-based growth in September, with passenger vehicles, two-wheelers and commercial vehicles recording strong sales momentum, while tractors are likely to lag behind, according to a Jefferies research report. — [Source](https://news.webindia123.com/news/Articles/Business/20260930/4505380.html)
- 2026-09-29 — NEWS.WEBINDIA123.COM: **Tata Sons IPO unlikely to affect group ratings immediately, but could change support outlook: S&P Global** — A potential initial public offering (IPO) of Tata Sons is unlikely to have any immediate impact on the credit ratings of Tata group companies, but a change in the holding company's ownership structure could influence how S&P Global Ratings assesses group support over the longer term, the ratings agency said. — [Source](https://news.webindia123.com/news/Articles/Business/20260929/4504912.html)
- 2026-09-29 — Economic Times: **Tata leadership transition, IPO unlikely to impact ratings, S&P Global says** — S&P Global said a potential Tata Sons leadership transition or listing would not immediately affect group company ratings, with financial policy changes likely to be gradual. The agency said a listing would be credit-neutral near term, though greater scrutiny of capital allocation, shareholder returns and support for weaker group companies could affect its longer-term assessment. — [Source](https://economictimes.indiatimes.com/news/company/corporate-trends/tata-leadership-transition-ipo-unlikely-to-impact-ratings-sp-global-says/articleshow/134559713.cms)
- 2026-09-29 — News18: **Tata Group Stocks Fall Up To 3%: Why Tata Motors, Tata Chemicals, Tata Power Are Under Pressure Today** — As of 11:15 am, Tata Motors Passenger Vehicles trades at Rs 275.80, down 2.11%. Tata Chemicals declines 3.33% to Rs 620.10, while Tata Power falls 1.52%, to Rs 356.40. — [Source](https://www.news18.com/business/markets/tata-group-stocks-slide-up-to-3-after-tata-sons-merger-plan-tata-motors-chemicals-power-fall-ws-l-10358629.html)
- 2026-09-29 — MONEYCONTROL: **Tata Chemicals, TMPV shares fall up to 3% after Trusts' proposal dims Tata Sons' listing hopes** — Tata Chemicals, Tata Sons, Tata Trusts, Noel Tata — [Source](https://www.moneycontrol.com/news/business/markets/tata-chemicals-tmpv-shares-fall-up-to-3-after-trusts-proposal-dims-tata-sons-listing-hopes-14040650.html)
- 2026-09-29 — BUSINESS: **Tata Motors Passenger Vehicles Ltd Slides 1.91%** — Tata Motors Passenger Vehicles Ltd has lost 12.98% over last one month compared to 8.62% fall in BSE Auto index and 5.99% drop in the SENSEX — [Source](https://www.business-standard.com/markets/capital-market-news/tata-motors-passenger-vehicles-ltd-slides-1-91-126092900226_1.html)
- 2026-09-29 — BUSINESSTODAY: **Tata Motors PV, Tata Investment, Tata Chemicals shares fall after Tata Trusts' latest proposal; key details** — Tata Chemicals share price, Tata Investment share price, Tata Power share price, Tata Steel share price, Tata stocks, Tata group stocks, Tata stocks news, Tata news — [Source](https://www.businesstoday.in/markets/trending-stocks/story/tata-motors-pv-tata-investment-tata-chemicals-shares-fall-after-tata-trusts-latest-proposal-key-details-558413-2026-09-29)
- 2026-09-29 — CNBC-TV18: **Nifty Outlook for September 29: Bears strengthen grip; 22,650-22,500 seen as next support zone** — The market’s short-term trend remains weak, although temporarily oversold conditions could trigger a pullback, analysts say. — [Source](https://www.cnbctv18.com/market/nifty-outlook-tuesday-september-29-bears-strengthen-grip-22650-22500-seen-as-next-support-zone-20000250.htm)
- 2026-09-28 — BUSINESSTODAY: **Tata makes its EVs cheaper to buy upfront, under BaaS scheme** — Tata Motors, Battery-as-a-Service, BaaS, electric vehicles, EV financing, Tata EV, Nexon EV, Curvv EV, Sierra EV, Harrier EV, Tiago EV, Punch EV, India electric cars, EV affordability, electric vehicle financing — [Source](https://www.businesstoday.in/auto/story/tata-makes-its-evs-cheaper-to-buy-upfront-under-baas-scheme-558383-2026-09-28)
- 2026-09-27 — MONEYCONTROL: **Tata Motors PV expects 15% market share 'very soon', eyes 20% by FY31: MD Shailesh Chandra** — Shailesh Chandra,Tata Motors PV — [Source](https://www.moneycontrol.com/news/business/companies/tata-motors-pv-expects-15-market-share-very-soon-eyes-20-by-fy31-md-shailesh-chandra-14039231.html)
- 2026-09-27 — Economic Times: **Tata Motors PV eyes 15% market share soon, targets 20% by FY31, says MD Shailesh Chandra** — Tata Motors Passenger Vehicles is approaching a 15% domestic market share and aims to reach 20% by FY31. The company plans to achieve substantial growth through product innovation and powertrain diversification. Focus areas include expanding into unentered segments and addressing evolving consumer affordability. — [Source](https://economictimes.indiatimes.com/industry/auto/cars-uvs/tata-motors-pv-eyes-15-market-share-soon-targets-20-by-fy31-says-md-shailesh-chandra/articleshow/134515725.cms)
- 2026-09-27 — The Hindu: **Tata Motors PV expects 15% market share ‘very soon’, eyes 20% by FY31: MD Shailesh Chandra** — "Our focus is going to be to drive double-digit growth. At the same time, we want to be leading the charge in sustainable or zero-emission powertrains and emission-friendly powertrains,” Chandra said. — [Source](https://www.thehindubusinessline.com/companies/tata-motors-pv-expects-15-market-share-very-soon-eyes-20-by-fy31-md-shailesh-chandra/article71515330.ece)
- 2026-09-27 — The Hindu: **Tata Motors PV expects 15% market share 'very soon', eyes 20% by FY31: MD Shailesh Chandra** — Tata Motors Passenger Vehicles targets 15% soon and 20% by FY31, driven by growth, new launches, and EV/CNG powertrains. — [Source](https://www.thehindu.com/business/tata-motors-pv-expects-15-market-share-very-soon-eyes-20-by-fy31-md-shailesh-chandra/article71515356.ece)
- 2026-09-26 — REDIFF.COM: **'Uncertainty bigger worry' than price rise for TaMo PV** — Shailesh Chandra, MD and CEO of Tata Motors Passenger Vehicles (TMPV), stated that the uncertainty surrounding how long commodity costs will remain elevated is a greater concern for the company than the actual price increases. He noted that commodity prices have risen significantly over the past five to six months, impacting margins and necessitating faster cost-reduction efforts, though no major production or supply-side issues are currently foreseen. — [Source](https://www.rediff.com/business/report/auto-tata-motors-pv-md-shailesh-chandra-on-commodity-cost-uncertainty-ev-demand-and-aeris-launch/20260926.htm)
- 2026-09-26 — REDIFF.COM: **Tata Motors PV: No concern over Tata Sons-Trusts tussle we are listed company** — Tata Motors Passenger Vehicles (TMPV) Managing Director and CEO Shailesh Chandra stated that the ongoing tussle between Tata Sons and Tata Trusts is 'of no concern' to TMPV, as it is an independently listed company focused on its own strategy. — [Source](https://www.rediff.com/business/report/auto-tata-motors-passenger-vehicles-md-shailesh-chandra-on-tata-sons-trusts-dispute/20260926.htm)
- 2026-09-25 — BUSINESSTODAY: **One-fourth of cars sold by Tata Motors Passenger Vehicles are now EVs** — One-fourth of cars sold by Tata Motors Passenger Vehicles are now EVs — [Source](https://www.businesstoday.in/auto/story/one-fourth-of-cars-sold-by-tata-motors-passenger-vehicles-are-now-evs-557940-2026-09-25)
- 2026-09-25 — Orissa POST: **Tata Motors weighs further price hikes as commodity costs pressure margins - OrissaPOST** — New Delhi: Tata Motors Passenger Vehicles Managing Director Shailesh Chandra Friday said the company is weighing further progressive price increases as rising commodity costs continue to put pressure on margins. In an interview to PTI, Chandra said the company is still absorbing a significant residual part of the rise in commodity costs, while also accelerating […] — [Source](https://www.orissapost.com/tata-motors-weighs-further-price-hikes-as-commodity-costs-pressure-margins/)

## Business profile

**Strategic vision:** Designs, manufactures, and markets passenger cars and EVs.

### Business segments
- **Internal Combustion Engine (ICE) Portfolio:** Manages the development, assembly, and sales of petrol, diesel, and compressed natural gas (CNG) passenger cars and SUVs.
- **Tata Passenger Electric Mobility Limited (TPEML):** The dedicated EV subsidiary developing bespoke electric architectures and marketing electric vehicle models.

### Competitive strengths
- Integration with a broad ecosystem of Tata Group companies for charging, components, financing, and engineering support.
- Flexible manufacturing capabilities allowing assembly of multiple drivetrain types on shared platforms.

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## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/tmpv
Markdown representation: https://faxioms.com/stocks/tmpv?render=md