Tata Motors CV Q2 Results FY27 Preview: Tata Motors’ commercial vehicle business is set to announce its financial results for the second quarter of FY27 today, October 23. The company’s standalone net profit is expected to rise 44 per cent year-on-year (YoY) to Rs 1,934 crore, compared with Rs 1,345 crore in the corresponding quarter of the previous financial year.
Revenue from operations is estimated to increase 46 per cent YoY to Rs 24,690 crore in the July-September quarter, against Rs 16,861 crore in Q2 FY26. On a sequential basis, revenue is expected to grow 28 per cent from Rs 19,329 crore reported in Q1 FY27.
Tata Motors CV Q2 FY27 Results Preview: EBITDA and margins
Tata Motors’ standalone earnings before interest, taxes, depreciation and amortisation (EBITDA) are projected to rise 36 per cent YoY to Rs 2,831 crore, compared with Rs 2,077 crore in the year-ago period. Sequentially, EBITDA is expected to increase 30 per cent from Rs 2,176 crore in the June quarter.
However, EBITDA margins are estimated to decline by 80 basis points YoY to 11.5 per cent from 12.3 per cent in Q2 FY26. On a quarter-on-quarter (QoQ) basis, margins are expected to improve by 20 basis points from 11.3 per cent in Q1 FY27.
Standalone profit after tax (PAT) is projected to increase 19 per cent sequentially from Rs 1,628 crore in the previous quarter.
Tata Motors CV Q2 FY27: Key earnings estimates
| Particulars | Q2 FY27 estimates | Q2 FY26 | YoY change |
| Revenue | Rs 24,690 cr | Rs 16,861 cr | +46% |
| EBITDA | Rs 2,831 cr | Rs 2,077 cr | +36% |
| EBITDA margin | 11.5% | 12.3% | -80 bps |
| PAT | Rs 1,934 cr | Rs 1,345 cr | +44% |
Tata Motors CV Q2 Results: Factors likely to influence earnings
The company’s commercial vehicle volumes in India surged 43 per cent YoY during the quarter, supported by growth across vehicle categories.
Light commercial vehicle volumes increased 53 per cent YoY, while medium and heavy commercial vehicle volumes grew 31 per cent.
The strong volume performance is expected to support revenue growth during the quarter.
Tata Motors has also implemented a net price increase of 2.5 per cent since July to protect realisations.
However, commodity inflation is expected to put pressure on margins. Higher input costs remain a key factor for the company’s profitability, although a higher mix of heavy commercial vehicles and operating leverage could partly offset these pressures.
Tata Motors CV Q2 Results: Key factors to watch
Investors will closely monitor management commentary on commercial vehicle demand during the second half of FY27.
Updates on the proposed Iveco acquisition will also remain in focus.
Other important factors include the company’s margin trajectory amid rising commodity costs, potential additional price increases and movements in average selling prices.
Tata Motors CV Q1 FY27 Results
In August, Tata Motors reported an 83 per cent increase in consolidated net profit to Rs 2,556 crore for the quarter ended June 30, 2026, compared with Rs 1,397 crore in the corresponding period of the previous financial year.
Consolidated revenue from operations rose to Rs 20,667 crore in Q1 FY27 from Rs 17,324 crore in the year-ago quarter.
Vehicle wholesales during the quarter stood at 1,08,700 units, registering a growth of 26 per cent YoY.
Meanwhile, total expenses increased to Rs 18,038 crore from Rs 15,982 crore in the corresponding quarter of the previous financial year.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)