Tata Motors PV posts Rs 5,451 crore Q2 loss on Rs 6,738 crore exceptional items

Tata Motors Passenger Vehicles Ltd reported a consolidated net loss of Rs 5,451 crore for the quarter ended 30 September 2026, after exceptional items of Rs 6,738 crore, according to its results filed with the National Stock Exchange on 13 November 2026. Consolidated revenue from operations rose 34% to Rs 96,920 crore, the company said.

What Happened

The board approved the results for the second quarter of 2026-27 (Q2 FY27) on 13 November 2026. The consolidated figures were reviewed, not audited, by the statutory auditors, who issued an unmodified conclusion, the filing says.

The quarter's loss from continuing operations compares with a loss of Rs 6,368 crore from continuing operations in the same quarter a year earlier and a profit of Rs 859 crore in the April-June 2026 quarter, per the filing. Profit before exceptional items and tax was Rs 403 crore.

The exceptional items were mainly a provision of Rs 3,776 crore for employee separation costs and an impairment of assets of Rs 2,856 crore, the filing shows. At Jaguar Land Rover (JLR), a wholly owned subsidiary of the company, exceptional items in the quarter reflected restructuring activities, including separation costs and the write-down of assets, the filing says. JLR's revenue rose 20.3% in the quarter.

The domestic passenger vehicle business recorded revenue of Rs 20,423 crore, up 50.9% and its highest for any quarter, the company said, with an EBITDA margin (operating profit before depreciation, as a share of revenue) of 4.0%.

What It Means

For shareholders, the filing shows a loss per share of Rs 15.02 for the quarter, against earnings of Rs 2.10 per share in the previous quarter. For the six months to September, consolidated revenue rose 20.4% to Rs 1,92,719 crore and the loss was Rs 4,592 crore.

The group's consolidated free cash flow was an outflow of Rs 6,300 crore in the quarter, and its net debt stood at Rs 50,800 crore on 30 September 2026, the company said.

JLR has revised its guidance for the full year. It now expects an adjusted EBIT margin (operating profit as a share of revenue) of 2-3% and a free cash outflow for the year, citing ongoing market challenges, geopolitical risks and the exceptional costs recognised in the quarter. The company said its priorities are driving growth through new launches, accelerating cost reductions and improving cash generation.

Source: NSE filing: Q2 FY27 results