Q3 2026 Tata Motors Passenger Vehicles Ltd Earnings Call Transcript
Key Points
- Tata Motors Passenger Vehicles Ltd (BOM:500570) achieved its best-ever quarterly performance with wholesales of 171,000 units and retails crossing the 200,000 mark, reflecting a 22% year-on-year growth.
- The company recorded a significant market share improvement, reaching the number two position in the Indian market with a 13.8% share.
- Electric vehicle sales showed strong growth, with a 50% year-on-year increase, and the company achieved its highest-ever EV retails in Q3.
- The launch of new models like the Sierra and Punch Facelift received a positive market response, with Sierra securing 70,000 bookings on the first day.
- Tata Motors Passenger Vehicles Ltd (BOM:500570) is well-positioned to maintain growth momentum with a healthy order book, disciplined inventory levels, and recent product introductions.
- The company faced a significant impact from a cyber incident at Jaguar Land Rover, which resulted in a loss of almost a month of production and affected consolidated revenue.
- Consolidated revenue was down 26% year-on-year, and the EBIT margin remained negative at -4.7% for the quarter.
- The company reported a loss before tax of 3,100 crore, excluding exceptional provisions related to the cyber incident and other factors.
- Jaguar Land Rover's performance was impacted by a challenging market environment, including increased tariffs and a weaker dollar, leading to higher costs.
- The luxury car market in China is facing structural challenges, with a 26% reduction in volume year-over-year, affecting Jaguar Land Rover's sales.
Good day, and welcome to Tata Motors Passenger Vehicles Limited Q3 FY26 earnings call. Today, we have with us Mr. Shailesh Chandra, MD and CEO of Tata Motors Passenger Vehicles Limited; Mr. P.B. Balaji, CEO Jaguar Land Rover; Mr. Dhiman Gupta, CFO Tata Motors Passenger Vehicles Limited; and Mr. Richard Molyneux, CFO Jaguar Land Rover, and we also have our colleagues from the Investor Relations team.
Today, we plan to walk you to the results presentation followed by Q&A. (Event Instructions)
I now hand over to Mr. Dhiman Gupta to take over. Over to you, sir.
Thank you, Anish.
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