Tata Motors Posts ₹867 Crore Loss in Q2 Despite Solid 6% Revenue Growth

Mumbai, November 14, 2025: Tata Motors Limited announced its financial results for the quarter ended September 30, 2025, posting a consolidated loss of ₹867 crore. This is a sharp decline from a profit of ₹498 crore in the same period last year, reflecting a challenging quarter for the company.

While the Commercial Vehicles (CV) division showed strong growth, the company faced a mark-to-market valuation loss on its recently listed investment, contributing to the overall loss.

Commercial Vehicles Segment: Strong Operating Momentum

Driven by higher volumes and reasonable pricing, the company’s CV business has delivered steady results. For the September quarter, the company reported a revenue of ₹18,370 crore. This is a 6.6% surge compared to the ₹17,237 crore recorded a year earlier. EBITDA margins improved to 12% from 10.7%. EBIT margin was up at 9.8% from 7.8%.

PBT increased to ₹1,694 crore from ₹1,225 crore. Free cash flow jumped to ₹2,211 crore. This is up ₹1,227 crore year-on-year. During the H1 FY26 period, the company’s revenue was ₹35,378 crore.

Consolidated Performance: Revenue Grows but Profitability Declines

The company reported a consolidated revenue of ₹18,585 crore, marking a 6% increase from ₹17,535 crore in the same period last year. Despite this growth, profitability declined, resulting in a net loss of ₹867 crore. Tata Motors’ EBITDA margin stood at 11.4%, while the EBIT margin was 8.8%. The company maintained a healthy liquidity position, with net cash of ₹1,200 crore.

Segment & Market Highlights

The company’s CV wholesale segment saw a 12% year-on-year increase to 96,800 units. The company’s domestic volume grew 9%. Exports surged 75%. The company maintained a 35.3% share in the domestic CV market. Recently, Tata Motors signed a memorandum of understanding to supply 100 Magna EV intercity coaches.

Management Commentary

MD & CEO of Tata Motors, Girish Wagh, noted that festive demand and GST 2.0 contributed to the company’s strong operating momentum. Supported by improved product availability and robust activation programs, the company recorded a 12% year-on-year growth.

CFO GV Ramanan added that Tata Motors delivered its highest-ever H1 free cash flow, driven by double-digit EBITDA margins and efficient working capital management.

Share Price Update

As of 9:36 AM, the share price of Tata Motors Limited was trading at ₹396, a 0.34% decline. In the last one year, the company’s shares have dipped 48%, 43% in the last six months, and marginally up 0.32% in the last month.

Tata Motors Limited is a publicly listed automotive manufacturer. The company has a leading presence in commercial vehicles, passenger mobility, and next-generation EV platforms. Its newly listed Commercial Vehicles entity serves both domestic and international markets with a diversified product portfolio.

REF: https://nsearchives.nseindia.com/corporate/TMLCOMMERCIAL_13112025171536_NSEBSELETTERFINAL.pdf

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