TMCVCapital Goods

Tata Motors Limited

Commercial Vehicles · ISIN INE1TAE01010 · BSE 544569 · NSE EQ · FV ₹2
Last price
₹403
-0.35%today
What this company does

Tata Motors Limited operates in Commercial Vehicles, part of the Capital Goods sector. It booked ₹25,338 cr of revenue in its latest quarter (Q2 FY27) and kept 5.0% of sales as profit. It is the largest of 4 Commercial Vehicles companies we track, by market value.

70out of 100
Equitytale Health Score
Solid

Healthier than 70% of companies in Capital Goods, on the 5 of 6 measures we could read for it. Each measure is ranked against the 105–127 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
44

At close. Not part of the score.

Profitability & returns73

How much profit it earns on the money it employs

Balance sheet41

How much it owes, and whether earnings cover the interest

Cash quality97

Whether reported profit actually arrives as cash

Valuation55

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 36% vs last year
✓ Promoters hold 43%
✓ No promoter shares pledged
✓ Strong 33% return on equity
✓ Turns profit into real cash
Watch-outs
! Thin 5.0% net margin

What if I invest in TMCV?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 5% a year, it would become
₹15.50 lakh

The slider starts at 5%, taken from a generic assumption, not this company's history. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹403▼ -0.35%
latest close · 2026-11-04
52-wk low ₹37974 sessions so far52-wk high ₹488
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio29.5Average
LowAverageHigh
P/B ratio9.71High
Below bookModerateHigh
EV / EBITDA14.0Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity32.9%Strong
WeakFairStrong ▸15%
Return on capital34.1%Strong
WeakFairStrong
Net margin5.0%Thin
ThinDecentStrong
EBITDA margin10.2%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.19Comfortable
LowModerateHigh ▸1
Interest cover20.6×Strong
RiskyOkayStrong ▸5×
Current ratio0.82Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹1.48 L cr
Book value
₹41
EPS
₹3.41
latest quarter
Net debt
₹-2,886 cr
more cash than debt
Enterprise value
₹1.46 L cr
EBITDA
₹10,376 cr
annualised
EBIT
₹8,220 cr
annualised
Operating margin
8.1%
Return on assets
8.8%
Earnings yield
3.39%
P/S
1.46
Sales / share
₹275.0
Tax rate
38.1%
Face value
₹2
Shares
368.5 cr
Working capital
₹-5,938 cr
Current assets
₹27,431 cr
Current liabilities
₹33,369 cr
Delivery %
47.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹550–₹550, midpoint ₹550

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹25,338 cr
Other Income₹436 cr
Total Income₹25,774 cr
Cost of Materials₹14,826 cr
Purchases of Stock-in-Trade₹2,994 cr
Inventory Change (±)₹-104 cr
Employee Benefit Expense₹1,580 cr
Finance Costs₹100 cr
Depreciation & Amortisation₹539 cr
Other Expenses₹4,102 cr
Total Expenses₹24,037 cr
Exceptional Items₹218 cr
Profit before Tax₹1,955 cr
Tax Expense₹744 cr
Share of JV / Associates₹43 cr
Net Profit₹1,254 cr
Net margin on total income4.9%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹17,716 cr68.0%
Employee benefit expense₹1,580 cr6.1%
Finance costs₹100 cr0.4%
Depreciation & amortisation₹539 cr2.1%
Other expenses₹4,102 cr15.8%
Tax expense₹744 cr2.9%
Profit for the period₹1,254 cr4.8%
Total income ₹25,774 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue26,098 cr20,667 cr25,338 cr
Total income26,415 cr21,063 cr25,774 cr
Expenses24,134 cr18,038 cr24,037 cr
Profit before tax2,516 cr2,946 cr1,955 cr
Tax830 cr414 cr744 cr
Net profit (owners' share)1,793 cr2,560 cr1,257 cr
Net margin (owners' share, on revenue)6.9%12.4%5.0%
EPS (₹)4.876.953.41
YoY (latest quarter): total income +37.4% · net profit —
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹57,453 cr
Shareholder equity
₹15,288 cr
parent shareholders
Total debt
₹2,942 cr
Cash
₹5,828 cr
Cash flow · H1 FY27
Operating
₹4,464 cr
Investing
₹-1,573 cr
Financing
₹-3,829 cr
Peer comparison
Commercial Vehicles · by market value
CompanyPriceMarket capP/E
Tata Motors Limitedthis company₹404₹1.49 L cr29.6
Ashok Leyland Limited₹153₹89,718 cr36.4
SML Mahindra Limited₹4,908₹7,107 cr151.7
Atul Auto Limited₹387₹1,073 cr40.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.99%
trailing 12 months
Dividend / share (TTM)
₹4
Last dividend
₹4
ex 12 Jun 2026
ActionDetailEx-date
Dividend₹4 / share12 Jun 2026
Who owns it · 2026-09-30
No pledge
Promoter
42.5%
FII / Foreign
19.0%
DII / Domestic
18.6%
Retail / others
19.9%
Promoter stake down 0.1% over the last 5 quarters.
Smart-money activity
Bulk / block deals
short— · NSE12 Nov 26
BoughtBOFA SECURITIES EUROPE SA · NSE13.00 L @ ₹39730 Oct 26
SoldBANK OF AMERICA NATIONAL ASSOCIATION · NSE13.00 L @ ₹39730 Oct 26
Stake changes
BoughtTata Sons Private Ltd · promoter→ 42.71% · 157.27 cr12 Nov 25
Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 369 named members
owning 42.5% between them · as of 2026-09-30
Tata Sons Private Limited40.14%
Tata Industries Limited1.96%
Tata Investment Corporation Limited0.30%
Ewart Investments Limited0.09%
The Tata Power Company Limited0.01%
3-101-951221 SOCIEDAD ANONIMAno shares
915 Labs Incno shares
Actve Digital Services Private Limitedno shares
Business done with them
FY2026 · 8 of the group
The company paid ₹1,824 cr to companies in the promoter group last year — about 2.2% of its ₹83,855 cr revenue and received ₹1,742 cr back from them.
Tata Capital Limited
Transfers Under Finance Agreements To Entity · Sale of investments, Bills discounted, Interest income, Interest expense, Finance given (including loans and equity), Borrowings towards lease liability, Repayment towards lease liability
₹1,248 cr
company paid
TIL Motor Hub Trading FZE
Sold goods to them · Sale of products
₹878 cr
company received
TATA ADVANCED SYSTEMS LIMITED
Sold goods to them · Sale of products, Services rendered
₹679 cr
company received
TATA CONSULTANCY SERVICES LIMITED
Paid them for services · Services received
₹244 cr
company paid
TATA SONS PRIVATE LIMITED
Paid them for services · Services received
also owns 40.14% of the company
₹212 cr
company paid
Tata Capital Limited
Transfers Under Finance Agreements From Entity · Sale of investments, Bills discounted, Interest income, Interest expense, Finance given (including loans and equity), Borrowings towards lease liability, Repayment towards lease liability
₹78 cr
company received
TATA ADVANCED SYSTEMS LIMITED
Paid them for services · Sale of products, Services rendered
₹70 cr
company paid
Tata Capital Limited
Other income from them · Sale of investments, Bills discounted, Interest income, Interest expense, Finance given (including loans and equity), Borrowings towards lease liability, Repayment towards lease liability
₹58 cr
company received
Tata Capital Limited
Contribution received from them · Sale of investments, Bills discounted, Interest income, Interest expense, Finance given (including loans and equity), Borrowings towards lease liability, Repayment towards lease liability
₹49 cr
company received
Tata Capital Limited
Other payments to them · Sale of investments, Bills discounted, Interest income, Interest expense, Finance given (including loans and equity), Borrowings towards lease liability, Repayment towards lease liability
₹23 cr
company paid
TATA AUTOCOMP SYSTEMS LIMITED
Bought property or assets from them · Purchase of property, plant and equipment
₹14 cr
company paid
Tata Consulting Engineers Limited
Bought property or assets from them · Purchase of property, plant and equipment
₹7 cr
company paid
Tata AutoComp Gotion Green Energy Solutions Private Limited
Bought property or assets from them · Purchase of property, plant and equipment
₹6 cr
company paid

The company also transacted with 10 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.