Tata Motors PV Posts ₹95,799 Cr Q1 Revenue; Domestic Business Drives Growth
Tata Motors Passenger Vehicles Ltd. (TMPVL) reported ₹95,799 crore in consolidated revenue for Q1 FY27, up 9.3% year-on-year, as robust growth in its domestic passenger vehicle business helped cushion challenges at Jaguar Land Rover (JLR). Tata PV revenue surged 64.8%, while domestic volumes grew 46% during the quarter.
For the quarter ended June 30, 2026, consolidated EBITDA stood at ₹7,100 crore, with EBITDA margin at 7.4%, down 130 basis points year-on-year. EBIT margin stood at 2.4%, while consolidated PBT (before exceptional items) was ₹1,606 crore. Consolidated free cash flow was negative ₹11,800 crore, primarily due to seasonal working capital requirements, taking net debt to ₹42,200 crore.
The domestic passenger vehicle business emerged as the key growth engine. Tata PV volumes increased 46% year-on-year, significantly outperforming the industry, while revenue rose 64.8% to ₹17,930 crore. EBITDA margin improved to 4.3%, up 30 basis points, and EBIT margin improved by 230 basis points to -0.5%. PBT before exceptional items reached breakeven, compared with a loss of ₹100 crore in Q1 FY26.
Electric mobility continued to gain momentum. Tata PV’s EV volumes increased 112% year-on-year, crossing 34,000 units for the quarter. EV penetration reached 19%, while CNG penetration stood at 27%. The company retained the No. 2 position in the Vahan market with a 14.3% share and maintained its leadership in electric vehicles with a 39% EV market share.
Dhiman Gupta, Chief Financial Officer, Tata Motors Passenger Vehicles, said: “Q1 FY27 was a quarter where we focused on carrying forward the growth momentum in the domestic business and preparing for an important transition year at JLR. Some of the challenges of FY26 i.e. supply constraints and elevated commodities / FX continued to impact performance in Q1 FY27. We delivered a resilient quarter and are confident to drive growth through new launches, debottleneck supply constraints, and take focused actions to deliver margin improvements.”
During the quarter, Tata Motors launched the next-generation Tiago and Tiago.ev, along with the all-new Sierra.ev. The company has outlined a five-year strategy to nearly double volumes, achieve a 20% market share, deliver double-digit EBITDA margins and generate strong free cash flow.
JLR, however, faced a more challenging quarter. Wholesale volumes declined 9.2% year-on-year due to temporary supply constraints, including a fire at a major component supplier, disruption linked to the Middle East conflict and the planned wind-down of outgoing Jaguar models ahead of new launches. JLR revenue fell 9.6% to £6.0 billion, while adjusted EBIT margin declined to 2.8% from 4.0% a year earlier.
Despite these pressures, JLR remained profitable, reporting PBT of £109 million and PAT of £66 million. The business ended the quarter with total liquidity of £5.9 billion. It is also preparing to launch four new products in the coming months — Range Rover Electric, Range Rover Sport Electric, Range Rover GT and Jaguar Type 01.
Commenting on the JLR performance, PB Balaji, Chief Executive Officer, JLR, said: “JLR delivered first quarter profits of £109m and an adjusted EBIT margin of 2.8%.” He said that despite near-term industry challenges, JLR continues to see strong demand for its brands and is looking forward to the launch of four new products — Range Rover Electric, Range Rover Sport Electric, Range Rover GT and Jaguar Type 01.
Shailesh Chandra, Managing Director & CEO, Tata Motors Passenger Vehicles, said the company remains confident of sustaining growth momentum, supported by a strong order book, product pipeline and sustained demand, while working towards sequential improvement through the remainder of FY27.
Looking ahead, Tata Motors expects domestic demand to remain healthy, supported by rising EV penetration, while commodity costs are expected to remain elevated. The company will focus on revenue growth, cost reduction, calibrated pricing actions and margin improvement.
