Tata Passenger Vehicles records its highest-ever quarterly revenue, while EV volumes grow 90% year-on-year and total sales cross 2 lakh units.
Tata Motors Passenger Vehicles Limited (TMPVL) reported its highest-ever quarterly revenue of Rs 20,423 crore for the second quarter of FY2027, registering a 50.9% year-on-year increase. The domestic passenger vehicle business also recorded more than 2 lakh units in quarterly sales, with volumes growing 40% compared with the corresponding period last year.
The company’s electric vehicle (EV) business remained a key growth driver, with volumes increasing 90% year-on-year during the quarter. However, higher commodity costs and foreign exchange impacts continued to put pressure on profitability.
Tata Motors PV Q2 FY27 Financial Performance
Tata Passenger Vehicles reported an EBITDA margin of 4.0% in Q2 FY27, down 180 basis points year-on-year. The EBIT margin stood at -0.3%, compared with a year-on-year decline of 50 basis points. Profit before tax and exceptional items was at breakeven, against a profit of around Rs 200 crore in the same quarter last year.
Despite the margin pressure, the business generated positive free cash flow of Rs 825 crore during the quarter. Its first-half free cash flow stood at Rs 1,945 crore.
At the end of September 2026, Tata PV reported a cash balance of Rs 11,000 crore and gross debt of Rs 3,100 crore, resulting in a net cash position of Rs 7,900 crore.
At the consolidated level, TMPVL reported revenue of Rs 96,920 crore, up 34% year-on-year. Consolidated EBITDA margin improved to 6.2%, while EBIT margin stood at 1.1%. The improvement compared with the year-ago period was largely attributed to the recovery from the cyber incident that affected Jaguar Land Rover (JLR) last year. Consolidated profit before tax and exceptional items stood at Rs 403 crore, while the company reported a net loss of Rs 5,500 crore after exceptional items and deferred tax recognition.
EV Sales Grow 90%, Market Share At 43%
Tata Motors continued to strengthen its position in India’s electric passenger vehicle market, with EV volumes rising 90% year-on-year in Q2 FY27. The company reported an EV market share of 43%, despite increasing competition and the entry of new players.
The overall Vahan market share stood at 14.3%, retaining the company’s second position in the passenger vehicle market. Alternative powertrains accounted for more than 50% of the company’s portfolio mix during the quarter, with EV penetration at 23% and CNG at 28%.
Tata Motors also extended its Battery-as-a-Service (BaaS) offering across its entire electric vehicle portfolio during the quarter.
New Products And Brand Identity
During Q2 FY27, Tata Motors unveiled TATA.CARS, its new consumer-facing global brand identity, accompanied by the brand promise ‘Nothing’s Too Far’.
The company also launched the all-new Tata Aeris, which it said received a strong market response. Other product interventions included the Curvv Series X, Sierra Legend Series and Sierra #Dark edition. The company also launched the Tata Osprey, known internationally as the Tata Nexon, in South Africa.
Tata Motors signed a memorandum of understanding with Stellantis to provide access to its advanced product technology and vehicle architecture for global products.
Tata Motors PV Outlook
Shailesh Chandra, Managing Director and CEO of Tata Motors Passenger Vehicles Limited, said the company recorded more than 2 lakh units in quarterly sales, reflecting strong customer demand across its portfolio. He added that the business would focus on sustaining growth, capitalising on rising EV adoption, ramping up production capacity and improving profitability.
The company entered the third quarter of FY27 on a strong footing, having recorded its highest-ever monthly sales of 75,400 units in October 2026.
