Tata Motors Q2 preview: Auto giant to announce first results post-demerger

Tata Motors Q2 Results Preview: Tata Motors is set to release its first quarterly results after the demerger, marking a key milestone for the auto major. The company recently split into two separate listed entities — Tata Motors Commercial Vehicles (TMCV) and Tata Motors Passenger Vehicles (TMPV).

Tata Motors Limited (Commercial Vehicles) Q2 Results Today

Tata Motors Commercial Vehicles, which listed on the BSE and NSE on November 12, will announce its financial results for the quarter ended September 30, 2025 (Q2 FY26), on Thursday, November 13.

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Passenger vehicles division results on November 14

Tata Motors Passenger Vehicles Limited (TMPV), formerly Tata Motors Limited, will report its maiden financial results as a standalone passenger vehicle entity on Friday, November 14, 2025. The company’s board will meet to approve the audited standalone results and unaudited consolidated results for the quarter and half year ended September 30, 2025.

“A meeting of the Board of Directors of Tata Motors Passenger Vehicles Limited is scheduled on November 14, 2025, to consider and approve the audited standalone and unaudited consolidated financial results for the quarter and half-year ended September 30, 2025,” the company stated in its regulatory filing.

Tata Motors Q2 Results Preview

Consolidated performance

For Q2 FY26, Tata Motors’ consolidated revenue is estimated at Rs 97,198 crore, compared to Rs 1,01,450 crore in the same period last year, reflecting a 4.2 per cent decline. Adjusted EBITDA is expected to fall 15.1 per cent year-on-year to Rs 9,960 crore, while EBITDA margin may moderate to 10.2 per cent from 11.6 per cent.

Despite this, the company’s profit after tax (PAT) is projected to rise 6 per cent year-on-year to Rs 3,560 crore, aided by a forex gain of Rs 423 crore, which has been adjusted in EBITDA and margins.

Passenger Vehicles / JLR:

Jaguar Land Rover (JLR) volumes are expected to decline 24 per cent year-on-year, weighed down by weakness in the European and Chinese markets. Analysts expect JLR’s EBITDA margin to shrink from 11.7 per cent to 7.4 per cent, impacted by an unfavorable product mix.

Commercial Vehicles

The CV segment is likely to see an improvement in profitability, with EBITDA margins rising to 12.6 per cent from 10.7 per cent, driven by better pricing and cost control measures.

Tata Motors Q2 Results: Key Areas to Watch

- Updates on the JLR cyberattack and its operational impact.
- Post-tariff effects on global operations.
- The company’s outlook post-GST cut and demand trends across segments.