MarketFriction

Tata Motors Passenger Vehicles Ltd

NSE TMPV · BSE 500570 · Passenger Cars & Utility Vehicles
₹279.40 -1.45%
NSE close2026-10-01
52 week range272.20 - 739.70
Market cap₹1,03,474 Cr.
P/E104
Nifty 50Nifty 100Nifty 200Nifty 500Nifty Auto No price band Delivery 50.7%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales105,129110,577119,033107,10283,65694,47298,37787,67772,34970,108105,44795,799
Expenses91,36295,159102,34891,85473,74284,07083,99079,51573,75369,22994,18889,623
Operating Profit13,76715,41816,68515,2489,91410,40214,3878,162-1,40487911,2596,176
OPM %13%14%14%14%12%11%15%9%-1.9%1.2%11%6%
Other Income1,5571,6041,4126,5531,9202,7302,3612,69081,507391,8771,113
Interest2,6522,4851,6451,4711,094843828692686682767835
Depreciation6,6376,8507,1436,5655,4674,8634,7174,8514,8714,9695,0924,880
Profit before tax6,0357,6879,30913,7655,2737,42611,2035,30974,546-4,7337,2771,574
Tax %36%7%-88%23%33%26%24%25%-2%-26%19%45%
Net Profit3,8327,14517,52810,5873,5215,4848,5564,00376,248-3,4835,878859
EPS in Rs11.3321.1452.3731.639.3614.6923.0110.66206.85-9.4715.702.10
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales273,046269,693291,550301,938261,068249,795278,454345,967434,016366,094335,582343,703
Expenses234,650240,104260,093277,274243,081217,507253,734314,151376,207318,101316,863326,793
Operating Profit38,39529,58931,45824,66417,98732,28724,72031,81657,80947,99318,71916,910
OPM %14%11%11%8%7%13%9%9%13%13%6%4.9%
Other Income-2,6701,8695,933-26,686102-11,1182,4246,6644,80714,21986,29184,536
Interest4,8894,2384,6825,7597,2438,0979,31210,2257,5943,9012,8272,970
Depreciation16,71117,90521,55423,59121,42523,54724,83624,86027,23921,10219,78419,812
Profit before tax14,1269,31511,155-31,371-10,580-10,474-7,0033,39427,78337,20982,39978,664
Tax %21%35%39%-8%4%24%60%21%-14%24%-0%
Net Profit11,6787,5579,091-28,724-11,975-13,395-11,3092,69031,80728,14982,64579,502
EPS in Rs40.1125.8231.13-99.84-39.08-40.51-34.457.2794.4775.60223.74215.18
Dividend Payout %1%0%0%0%0%0%0%32%7%8%1%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth2%6%-1%-6%
Compounded Profit Growth21%101%232%-94%
Stock Price CAGR-1%7%-10%-32%
Return on Equity20%37%52%76%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital644679679679679720766766766767736737
Reserves55,61878,27357,38394,74959,50062,35954,48143,79544,55684,151115,408111,331
Borrowings73,61069,36078,60488,950106,175124,788142,131146,449134,113107,26471,54079,109
Other Liabilities107,442114,872135,914142,813139,349132,313144,193138,051155,239177,339189,289188,012
Total Liabilities237,315263,184272,580327,192305,703320,179341,570329,061334,674369,521376,973379,189
Fixed Assets88,479107,23295,944121,414111,234127,107138,708138,855132,080121,285115,697104,656
CWIP28,64025,91933,69940,03431,88435,62220,96410,25114,27435,69865,806102,654
Investments15,33723,76720,33820,81315,77116,30824,62029,38026,37922,97135,65626,313
Other Assets104,858106,266122,600144,932146,814141,141157,278150,575161,941189,567159,814145,566
Total Assets237,315263,184272,580327,192305,703320,179341,570329,061334,674369,521376,973379,189
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity35,53137,90030,19923,85718,89126,63329,00114,28335,38867,91563,10213,041
Cash from Investing Activity-36,232-36,694-39,571-25,139-20,878-33,115-25,672-4,444-15,417-22,781-49,982-23,166
Cash from Financing Activity5,201-3,7956,2052,0128,8303,3909,904-3,380-26,243-37,006-18,786-1,344
Net Cash Flow4,500-2,589-3,1677306,843-3,09213,2326,459-6,2728,128-5,666-11,469
Free Cash Flow3,6436,45514,181-11,191-16,346-2,8989,146-65516,44336,73226,034-23,195
CFO/OP101%104%108%85%87%158%96%66%121%125%140%87%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days171819252316191617141314
Inventory Days677377837382837166647885
Days Payable131138138151133145175141128126160158
Cash Conversion Cycle-47-46-41-43-38-48-74-53-45-48-69-59
Working Capital Days-62-63-69-71-78-92-112-88-63-55-75-81
ROCE %21%15%9%9%2%-0%6%1%6%19%16%3%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters46.38%46.37%46.36%46.36%42.58%42.58%42.58%42.57%42.57%42.56%42.56%42.51%
FIIs18.40%18.62%19.20%18.18%20.54%18.66%17.84%17.17%17.13%17.88%17.29%17.11%
DIIs17.37%17.25%16.01%15.93%16.08%16.54%16.88%16.93%17.03%15.08%16.79%16.97%
Government0.14%0.14%0.14%0.14%0.29%0.31%0.31%0.31%0.31%0.31%0.31%0.31%
Public17.70%17.60%18.31%19.39%20.49%21.91%22.39%23.01%22.97%24.14%23.06%23.09%
No. of Shareholders37,73,31441,84,36946,16,90850,98,55057,27,23464,62,12367,28,24667,52,77566,55,77666,73,64663,78,03262,15,151

Fundamentals

Market Cap₹ 1,03,474 Cr.
Current Price₹ 281
Stock P/E104
Book Value₹ 304
ROCE2.73 %
ROE75.7 %
Dividend Yield1.07 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-6%
Compounded Profit Growth (TTM)-94%
Consolidated figures.
Valuation
Market capRs 102,886 Cr
Enterprise valueRs 152,311 Cr
P/E (TTM)1.30x
Price to book0.92x
Price to sales0.30x
EV / EBITDA1.50x
EV / EBIT1.87x
EV / sales0.44x
Price to cash flow7.89x
Earnings yield77.02%
Dividend yield1.07%
P/E, 3-year average4.68x
P/B, 3-year average1.66x
P/E, 5-year average13.59x
P/B, 5-year average1.87x
Profitability
Operating margin (excl. other income)5.58%
Operating margin (incl. other income)31.29%
EBITDA margin29.52%
Pre-tax margin22.89%
Net profit margin23.06%
Net margin, latest quarter0.81%
ROE72.20%
ROCE44.99%
ROA21.79%
ROE, 3-year average49.37%
ROCE, 3-year average28.56%
ROA, 3-year average12.72%
ROE, 5-year average26.11%
ROCE, 5-year average18.84%
ROA, 5-year average7.10%
ROIC (approx.)50.70%
Tax rate-0.30%
Other income / net worth77.00%
Growth
Sales growth (latest year)-8.33%
Profit growth (latest year)196.05%
Sales CAGR, 3 years-1.01%
Sales CAGR, 5 years6.08%
Profit CAGR, 3 years224.36%
Sales growth QoQ-9.15%
Profit growth QoQ-86.60%
Sales growth YoY (latest quarter)9.26%
Profit growth YoY (latest quarter)-80.25%
Per share
EPS (TTM)Rs 215.19
EPS (latest year)Rs 223.74
EPS (latest quarter)Rs 2.10
EPS, 3-year averageRs 127.09
EPS, 5-year averageRs 71.54
Book value per shareRs 304.34
Sales per shareRs 933.37
Cash flow per shareRs 35.41
Free cash flow per shareRs -62.99
Dividend per share (latest year)Rs 3.00
Dividend per share, 3-year averageRs 5.00
Dividend per share, 5-year averageRs 4.25
Dividends
Dividend payout1.34%
Dividend payout, 3-year average5.53%
Dividend payout, 5-year average12.08%
Efficiency
Asset turnover0.89x
Fixed asset turnover3.21x
Inventory turnover4.64x
Inventory days79 days
Debtor days14 days
Debtors turnover26.59x
Creditor days158 days
Cash conversion cycle-59 days
Working capital days-81 days
Leverage
Total debtRs 79,109 Cr
Cash and bankRs 29,684 Cr
Net debtRs 49,425 Cr
Debt to equity0.71x
Net debt / EBITDA0.49x
Interest coverage27.49x
Current ratio (filing 2026-03-31)0.84x
Quick ratio (filing 2026-03-31)0.53x
Trade payables (filing 2026-03-31)Rs 92,780 Cr
Owners' fund to total sources29.55%
Debt to assets20.86%
Cash flow
Cash from Operating Activity (latest year)Rs 13,041 Cr
Cash from Investing Activity (latest year)Rs -23,166 Cr
Cash from Financing Activity (latest year)Rs -1,344 Cr
Net Cash Flow (latest year)Rs -11,469 Cr
Free cash flow (latest year)Rs -23,195 Cr
FCFE (approx.: FCF + change in debt)Rs -15,626 Cr
Cash from ops / profit, 5 years1.45x
Sales to cash flow25.73x
Statement figures
Net sales (TTM)Rs 343,703 Cr
Net sales (latest year)Rs 335,582 Cr
Sales (latest quarter)Rs 95,799 Cr
Operating profit excl. other income (latest year)Rs 18,719 Cr
Operating profit (latest quarter)Rs 6,176 Cr
Other income (TTM)Rs 84,536 Cr
EBITDA (TTM)Rs 101,446 Cr
PBDT (TTM)Rs 98,476 Cr
Profit before tax (TTM)Rs 78,664 Cr
Tax (latest year)Rs -246 Cr
Net profit (TTM)Rs 79,242 Cr
Net profit (latest year)Rs 82,390 Cr
Net profit (latest quarter)Rs 775 Cr
Depreciation (TTM)Rs 19,812 Cr
Depreciation (latest quarter)Rs 4,880 Cr
Interest (TTM)Rs 2,970 Cr
Cost of goods sold (latest year)Rs 232,823 Cr
Total expenditure (latest year)Rs 316,863 Cr
Total income (latest year)Rs 421,873 Cr
Share capitalRs 737 Cr
ReservesRs 111,331 Cr
Shareholders' fundsRs 112,068 Cr
Total assetsRs 379,189 Cr
Net blockRs 104,656 Cr
Capital work in progressRs 102,654 Cr
InvestmentsRs 26,313 Cr
ReceivablesRs 12,619 Cr
InventoryRs 50,126 Cr
Other liabilitiesRs 188,012 Cr
Shares outstanding (crore)368.24
Ownership
Promoter holding42.51% (-0.06 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 1.3 is at the 2th percentile of its own 5.4-year range (median 6.6, low 1.3, high 92.2).
P/B 0.92 is at the 27th percentile (median 1.30).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodTMPVNifty 50Difference
1 week-5.3%-2.8% -2.5 pts
1 month-9.9%-6.8% -3.1 pts
3 months-18.8%-7.6% -11.2 pts
6 months-5.7%+0.4% -6.1 pts
1 year-29.9%-9.9% -20.0 pts
2 years-52.1%-13.6% -38.5 pts
3 years-26.1%+14.2% -40.3 pts
5 years+39.7%+27.9% +11.8 pts
262 mutual fund schemes hold about ₹9,002 Cr. Over three months 161 bought more and 56 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Balanced Advantage Fund1.67%704 +7%
ICICI Pru Value Fund1.15%692 +8%
ICICI Pru Multi Asset Allocation Fund0.60%525 +4%
SBI Contra Fund1.06%506 +42%
ICICI Pru India Opp Fund1.25%480 +10%
ICICI Pru Focused Fund2.57%461 +21%
ICICI Pru Large Cap Fund0.46%366 +43%
Kotak Arbitrage Fund(M0.43%323 +150%
ICICI Pru Large & Mid Cap Fund0.72%243 -0%
SBI Arbitrage Fund0.48%228 +31%
Mirae Asset Large & Midcap Fund0.48%222 -47%
HDFC Manufacturing Fund2.07%219 +4%
UTI Nifty 50 Index Fund0.59%173 +7%
Motilal Oswal BSE Enhanced Value Index Fund7.38%166 +12%
HDFC Large Cap Fund0.41%164 +6%
Old Bridge Focused Fund3.89%155 -9%
Tata Arbitrage Fund0.58%146 +81%
ICICI Pru Arbitrage Fund0.41%143 +27%
HDFC Nifty 50 Index Fund0.59%142 +7%
UTI Large Cap Fund1.03%125 +6%
ICICI Pru Innovation Fund1.55%122 +0%
HDFC Balanced Advantage Fund0.11%121 +7%
SBI Large & Midcap Fund0.26%109 +100%
ICICI Pru Nifty 50 Index Fund0.58%102 +7%
ICICI Pru Nifty 50 Index Fund0.58%101 +7%

Red flags

F-score 4 of 8
explainHigh accruals Profit exceeded operating cash by 18% of total assets in 2026
lookProfit leans on other income Other income was 105% of pre-tax profit in 2026
lookRegulator order or action Regulator order or action 2026-08-21: Tata Motors Passenger Vehicles Limited has informed the Exchange about Compounding Order received from the Reserve Bank of India.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2024-09-25Tata Sons Private LimitedPromoter Groupother26,149,740Rs 2906.15 CrScheme of Amalgamation/M
2024-09-25Ewart Investments LimitedPromoter Groupother440,645Scheme of Amalgamation/M
2024-09-25Ewart Investments LimitedPromoter Groupother299,204Rs 33.25 CrScheme of Amalgamation/M
2024-09-25The Tata Power Company LimitedPromoter Groupother51,022Scheme of Amalgamation/M
2024-09-25The Tata Power Company LimitedPromoter Groupother34,644Rs 3.85 CrScheme of Amalgamation/M
2024-09-25Tata Sons Private LimitedPromotersother38,511,281Scheme of Amalgamation/M
2021-03-25Tata Sons Private LimitedPromotersother23,666,500Rs 675.80 CrRevokation of Pledge
2021-01-29Tata Sons Private LimitedPromotersother231,333,871Rs 2602.51 CrPreferential Offer
2020-12-01Tata Sons Private LimitedPromotersbuy2,202,830Rs 17.18 CrMarket Purchase
2020-09-23Tata Sons Private LimitedPromotersbuy3,763,292Rs 22.52 CrMarket Purchase
2020-09-04Tata Sons Private LimitedPromotersbuy520,077Rs 0.00 CrMarket Purchase
2020-09-04Tata Sons Private LimitedPromotersbuy5,302,681Rs 0.00 CrMarket Purchase
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹95,799 Cr +9.3% vs Jun 2025. Net profit ₹859 Cr -78.5%.

Activity

Compare
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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-19Dividend - Rs 3 Per Share
2025-10-14Inferred from price: close fell to 0.598x overnight, no NSE action on record0.6000
2025-10-14Demerger
2025-06-04Dividend - Rs 6 Per Share
2024-06-11Dividend - Rs 3 Per Share & Special Dividend - Rs 3 Per Share
2023-07-28Dividend - Rs 2 Per Share
2016-07-18 Dividend - Re 0.20/- Per Share
2015-07-22Annual General Meeting
2015-04-06Rights 6:109 @ Premium Rs. 448/- Per Share
2014-07-09Annual General Meeting / Dividend - Rs 2/- Per Share
2013-07-30Annual General Meeting And Dividend Rs.2/- Per Share
2012-07-18Dividend Rs 4 Per Share
2011-09-12Face Value Split From Rs.10/- To Rs.2/-0.2000
2011-07-19Dividend-Rs.20/- Per Share
2010-08-10Dividend-Rs.15/- Per Share
2009-08-03Dividend-Rs.6/- Per Share
2008-09-09Rights Eq 1:6/Dif Vot 1:6
2008-06-16Dividend-Rs.15 Per Share Purpose Revised
2007-06-01Agm/Dividend-150%
2006-06-23Dividend-130%
DateTypeWhat it says
2026-10-01Press ReleaseA press release dated October 01, 2026, titled "Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) total sales in Q2 FY27".
2026-09-29News clarificationThe Exchange has sought clarification from Tata Motors Passenger Vehicles Limited with respect to recent news item captioned Tata Chemicals, TMPV shar...
2026-09-29News clarificationThe Exchange has sought clarification from Tata Motors Passenger Vehicles Limited with respect to recent news item captioned Tata Chemicals, TMPV shar...
2026-09-21General UpdatesESG Rating.
2026-09-21ESOPAllotment of 1,00,596 Shares.
2026-09-07Concall / analyst meetSchedule of meet
2026-09-07General UpdatesThe ESG Rating assigned to the Company.
2026-09-07Press ReleaseA press release dated September 07, 2026, titled "JLR update on strategic Transformation Programme" issued by Jaguar Land Rover Automotive PLC, Wholly...
2026-09-01Press ReleaseA press release dated September 01, 2026, titled "Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) Monthly Sales - August 2026".
2026-08-28Concall / analyst meetSchedule of meet
2026-08-25Press ReleaseA press release dated August 25, 2026, titled "Tata Motors Passenger Vehicles, Tata Communications join forces to accelerate Software-Defined Vehicle ...
2026-08-21Regulatory actionCompounding Order received from the Reserve Bank of India.
2026-08-21Press ReleaseA press release dated August 21, 2026, titled "Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) to increase prices of its Cars & ...
2026-08-20Disruption of OperationsAn update on the Temporary Disruption of Operations at Sanand Plants, Gujarat
2026-08-19Concall / analyst meetTranscript
2026-08-13Concall / analyst meetLink of Recording
2026-08-13Investor PresentationInvestor Presentation
2026-08-13Board meeting outcomeTata Motors Passenger Vehicles Limited has submitted to the Exchange, the financial results for the period ended June 30, 2026.
2026-08-07Concall / analyst meetSchedule of meet
2026-08-01Press ReleaseA press release dated August 01, 2026, titled "Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) Monthly Sales - July 2026".
2026-07-30ESOPAllotment of 308642 Shares.
2026-07-27Disruption of OperationsTemporary Disruption of Operations at Sanand Plants, Gujarat
2026-07-15General UpdatesESG Rating
2026-07-08Shareholder meetingProceedings of Annual General Meeting held on July 08, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with v...
2026-07-06General UpdatesSIAM Report April to June 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.68
Max pain (expiry 2026-10-27)295
Largest call open interest at300
Largest put open interest at280
Implied volatility, at the money31.1%
Underlying at snapshot279.40
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-30150
2026-09-2916,896
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Tata Motors Passenger Vehicles Ltd?

Tata Motors Passenger Vehicles Ltd (TMPV) has a market capitalisation of Rs 1,03,474 Cr. at the 2026-10-01 close.

What is the P/E ratio of Tata Motors Passenger Vehicles Ltd?

Tata Motors Passenger Vehicles Ltd trades at a P/E of 104 on trailing twelve-month profit, at the 2026-10-01 close.

What were Tata Motors Passenger Vehicles Ltd's latest quarterly results?

In the Jun 2026 quarter, Tata Motors Passenger Vehicles Ltd sales was Rs 95,799 Cr (+9.3% vs Jun 2025) and net profit was Rs 859 Cr.

What is the 52-week high and low of Tata Motors Passenger Vehicles Ltd?

The 52-week high is Rs 739.70 and the 52-week low is Rs 272.20.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03