Revenue increased 19.4% year-on-year to ₹26,098 crore from ₹21,863 crore. EBITDA rose 8.6% to ₹2,640 crore versus ₹2,431 crore in the corresponding quarter last year, while EBITDA margin stood at 10.12% compared with 11.12% a year earlier.
The company reported a record standalone performance in Q4 FY26 and a strong full-year showing, driven by disciplined execution and focus on profitable growth. Quarterly standalone revenue stood at ₹24,500 crore, up 22%, while EBITDA rose 35% to ₹3,400 crore.
Standalone EBITDA margin came in at 13.9%, up 130 basis points, ahead of mid-term guidance. EBIT margin expanded to 12.1%, rising 220 basis points, supported by higher volumes, improved realisations and cost efficiencies, partially offset by higher input costs. Profit before tax (before exceptional items) stood at ₹3,000 crore, up 58%, while profit after tax rose 70% to ₹2,400 crore.
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For FY26, standalone revenue increased 11% to ₹77,400 crore. EBITDA rose 22% to ₹10,200 crore, with margins at 13.2%, up 120 basis points. EBIT margin stood at 11.0%, up 180 basis points. Profit before tax (before exceptional items) increased 46% to ₹8,700 crore.
However, profit after tax declined 23% to ₹3,400 crore due to ₹3,700 crore exceptional items, including mark-to-market losses on listed investments in Tata Capital Limited, new labour code impact and demerger-related costs.
Standalone free cash flow for FY26 improved to ₹9,200 crore, up ₹2,200 crore, while net cash for the domestic business stood at ₹7,500 crore as of March 31, 2026. The company reported an auto ROCE of 72% in FY26 versus 61% in FY25.
For FY26, consolidated revenue stood at ₹83,900 crore. EBITDA margin was 12.3% and EBIT margin 10.2%. Profit before tax (before exceptional items) rose 7% to ₹6,100 crore, while profit after tax fell 24% to ₹3,000 crore due to ₹1,400 crore exceptional items related to the new labour code and demerger costs.
As of March 31, 2026, the company remained net cash positive at ₹13,700 crore, including TMF Holdings’ gross debt net of the market value of investments in Tata Capital Ltd.
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Tata Motors said its board of directors, at a meeting, has recommended a final dividend of ₹4.00 per equity share of ₹2 each, equivalent to 200%, for the financial year ended March 31, 2026. The dividend will be subject to the approval of shareholders at the upcoming annual general meeting. If approved, the payout will be made to eligible shareholders on or before July 2, 2026.
Girish Wagh, MD & CEO, Tata Motors Ltd, said, “FY26 marked a clear inflection point for the commercial vehicles industry, with volumes surpassing the pre-FY19 peak, supported by GST 2.0 reforms and sustained infrastructure spending.
For Tata Motors Commercial Vehicles, FY26 was a landmark year as we delivered milestones of revenues and profits, reinforced industry leadership and strengthened our market position. Looking ahead, the underlying demand fundamentals remain resilient despite geopolitical uncertainties signalling some moderation in the near term.”
GV Ramanan, CFO, Tata Motors Ltd, said, “FY26 marked a strong financial performance with robust EBITDA, profit and free cash flow. EBITDA margins in Q4 FY26 crossed ‘teens’ at 13.9% while full-year FCF translated to ~12% of revenue, well ahead of our 2027 target. These deliverables reflect sustained structural improvements and efficient capital and cost management.
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.”
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Shares of Tata Motors Ltd ended at ₹336.70, down by ₹0.25, or 0.074%, on the BSE.
