Tata Motors Commercial Vehicles Q1 FY 2026-27 Results: Net Profit Jumps 83% To Rs 2,560 Crore, Revenue Rises 20%
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Tata Motors CV Q1 FY 2026-27 Results: Tata Motors Commercial Vehicles reported a sharp rise in June quarter consolidated net profit, led by a mark-to-market gain on its investments in Tata Capital. Consolidated revenue also grew nearly 20% during the quarter, reflecting stronger operating performance.
Tata Motors Commercial Vehicles Q1 FY 2026-27 Results: The auto major Tata Motors Commercial Vehicles (TMCV) after market hours, with consolidated revenue of Rs 20,700 crore for Q1 FY27, up 19% year-on-year. Consolidated EBITDA stood at Rs 2,300 crore, rising 10%, while EBITDA margin came in at 10.9%, down 90 basis points.
Profit before tax rose 81% to Rs 3,000 crore, while profit after tax increased 83% to Rs 2,600 crore, led by mark-to-market gains on investments in Tata Capital Ltd. As of June 30, 2026, Tata Motors was net cash positive at Rs 13,500 crore. The company said this included TMF Holdings' gross debt less the market value of its investments in Tata Capital Ltd.
On a standalone basis, revenue from operations rose 23% year-on-year to Rs 19,329 crore, compared with Rs 15,682 crore in Q1 FY26. Standalone EBITDA increased 9.5% to Rs 2,176 crore, compared with Rs 1,987 crore in the corresponding period last year, while EBITDA margin contracted to 11.26% from 12.67% a year earlier.
Tata Motors said it delivered another strong quarter on a standalone basis, with healthy revenue and profitability growth. Despite severe commodity headwinds, the business maintained resilient profitability, supported by disciplined pricing, cost-efficiency measures and improved operating leverage.
The company said strong operational performance and continued efficient working capital management resulted in positive free cash flow of Rs 1,100 crore in Q1 FY27, an improvement of Rs 2,900 crore. Net cash for its domestic business stood at Rs 7,100 crore as of June 30, 2026, after a dividend payout of Rs 1,473 crore during the quarter.
Auto ROCE remained robust at 68% for the quarter, compared with 72% in FY26.
Business Performance
For Q1 FY27, total wholesale volumes stood at 108,700 units, up 26% year-on-year. Domestic and export volumes increased 26% and 35%, respectively.
Overall domestic CV VAHAN market share stood at 36.8%, up 100 basis points sequentially.
Category-wise market share stood at 56.3% for HCV, 36.9% for ILMCV, 27.7% for SCV PU and 41.3% for CV Passenger. Tata Motors said it received over 3,400 electric vehicle orders across segments during the quarter, strengthening its position in the eCV segment.
Management Commentary
GV Ramanan, CFO, Tata Motors, said, "While commodity pressure continues to persist, we remain confident in our ability to navigate the environment through operational efficiencies, pricing discipline, and proactive supply chain management to deliver resilient margins and profitable growth."
Girish Wagh, MD & CEO, Tata Motors, said, "The commercial vehicle industry remained resilient in Q1 FY27, supported by India's strong economic fundamentals, healthy fleet utilisation, and sustained demand across key sectors. Tata Motors delivered a strong quarter, with volumes growing 26% year-on-year, driven by a winning portfolio, focused market interventions, and disciplined execution. These efforts helped us strengthen customer preference and further consolidate our market position."
Tata Motors Share Price
Tata Motors shares settled 1.56% higher at Rs 457.05 apiece on the National Stock Exchange on Wednesday. The earnings were announced after market hours.
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Rochelle Britto is a business journalist with 8+ years of experience in financial journalism. She covers equity markets, corporate earnings, IPOs, commodities and the economy.
As a reporter with leading business publications, she has tracked financial markets and covered sectors including banking and financial services, retail, consumer goods, advertising and e-commerce.
Outside work, she enjoys travelling, discovering local cultures and spending time in nature.
