Tata Motors’ commercial vehicles shone in Q4 FY26, with standalone revenue +22% YoY to Rs 24,500 crore. EBITDA surged 35% to Rs 3,400 crore (13.9% margin-first “teens” cross). PAT rocketed 70% to Rs 2,400 crore.
Consolidated: Revenue +19% to Rs 26,100 crore (13.1% EBITDA margin).
FY26 standalone: Revenue +11% to Rs 77,400 crore; EBITDA +22% to Rs 10,200 crore (13.2% margin, +120 bps); EBIT margin 11%.
Wholesales: Q4 +25% to 132,000 units; FY26 +14% to 428,000. Domestic volumes +12%; exports +54%.
MD-CEO Girish Wagh: “Looking ahead, the underlying demand fundamentals remain resilient despite geopolitical uncertainties signaling some moderation in the near term. With strong business fundamentals, proactive risk mitigation, disciplined execution and a refreshed portfolio offering industry, we remain agile and well positioned.”
CFO GV Ramanan: “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 nearly 12% of revenue, well ahead of our 2027 target. These deliverables reflect sustained structural improvements and efficient capital and cost management.”
Strong volumes, margins signal CV resilience amid global risks.
