āagman

Tata Motors Passenger Vehicles Ltd

NSE: TMPVF&O
₹275.70
−₹2.30 (−0.83%)
NSE · 21 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,05,647 Cr
CMP
₹275.70
52-wk High / Low
₹419 / 272
P/E
106.0
P/B
0.9
Book Value
₹304.0
Div Yield
1.05%
ROCE
3.0%
ROE
75.7%
Face Value
₹2
D/E
0.71

Price−31.6% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 21 Oct 2026
How we compute these
Piotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹1,213
√(22.5 × EPS × book value per share)
ROIC
−0.6%
vs 11.5% sector median
Cash flow to profit
0.16
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−286
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
0.0%
ROE × earnings retention ratio
ROE stability
32.9
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.05FII −0.18DII +0.18
Latest quarter vs the previous one
Cash-accrual divergence
18.4%
of assets
Low = accruals track cash flow
Strengths
Watch-outs
−Latest ROCE of 3% trails the sector median of 18.5%
−Price trades below its 200-day moving average (0.8x)
−Price is 34.2% below its 52-week high
−Piotroski F-Score of 3/9 is in the weak band (≤3)
−Balance-sheet accruals of 18.4% of average assets — earnings are not cash-backed

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,02,2361,05,1291,10,5771,19,0331,07,10283,65694,47298,37787,67772,34970,1081,05,44795,799
Expenses89,01991,36295,1591,02,34891,85473,74284,07083,99079,51573,75369,22994,18889,623
Operating Profit13,21713,76715,41816,68515,2489,91410,40214,3878,162−1,40487911,2596,176
OPM %12.9%13.1%13.9%14.0%14.2%11.9%11.0%14.6%9.3%−1.9%1.3%10.7%6.4%
Other Income8951,5571,6041,4126,5531,9202,7302,3612,69081,507391,8771,113
Interest2,6152,6522,4851,6451,4711,094843828692686682767835
Depreciation6,6336,6376,8507,1436,5655,4674,8634,7174,8514,8714,9695,0924,880
Profit before tax4,8646,0357,6879,30913,7655,2737,42611,2035,30974,546−4,7337,2771,574
Net Profit3,3013,8327,14517,52810,5873,5215,4848,5564,00376,248−3,4835,878859
EPS (₹)9.6411.3321.1452.3731.639.3614.6923.0110.66206.85−9.4715.702.10

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,63,1592,73,0462,69,6932,91,5503,01,9382,61,0682,49,7952,78,4543,45,9674,34,0163,66,0943,35,5823,43,703
Expenses2,23,9202,34,6502,40,1042,60,0932,77,2742,43,0812,17,5072,53,7343,14,1513,76,2073,18,1013,16,8633,26,793
Operating Profit39,23938,39529,58931,45824,66417,98732,28724,72031,81657,80947,99318,71916,910
OPM %14.9%14.1%11.0%10.8%8.2%6.9%12.9%8.9%9.2%13.3%13.1%5.6%4.9%
Other Income714−2,6701,8695,933−26,686102−11,1182,4246,6644,80714,21986,29184,536
Interest4,8614,8894,2384,6825,7597,2438,0979,31210,2257,5943,9012,8272,970
Depreciation13,38916,71117,90521,55423,59121,42523,54724,83624,86027,23921,10219,78419,812
Profit before tax21,70314,1269,31511,155−31,371−10,580−10,474−7,0033,39427,78337,20982,39978,664
Net Profit14,07311,6787,5579,091−28,724−11,975−13,395−11,3092,69031,80728,14982,64579,502
EPS (₹)48.4440.1125.8231.13−99.84−39.08−40.51−34.457.2794.4775.60223.74215.18

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital644679679679679720766766766767736737—
Reserves55,61878,27357,38394,74959,50062,35954,48143,79544,55684,1511,15,4081,11,331—
Borrowings73,61069,36078,60488,9501,06,1751,24,7881,42,1311,46,4491,34,1131,07,26471,54079,109—
Other Liabilities1,07,4421,14,8721,35,9141,42,8131,39,3491,32,3131,44,1931,38,0511,55,2391,77,3391,89,2891,88,012—
Total Liabilities2,37,3152,63,1842,72,5803,27,1923,05,7033,20,1793,41,5703,29,0613,34,6743,69,5213,76,9733,79,189—
Fixed Assets88,4791,07,23295,9441,21,4141,11,2341,27,1071,38,7081,38,8551,32,0801,21,2851,15,6971,04,656—
CWIP28,64025,91933,69940,03431,88435,62220,96410,25114,27435,69865,8061,02,654—
Investments15,33723,76720,33820,81315,77116,30824,62029,38026,37922,97135,65626,313—
Other Assets1,04,8581,06,2661,22,6001,44,9321,46,8141,41,1411,57,2781,50,5751,61,9411,89,5671,59,8141,45,566—
Total Assets2,37,3152,63,1842,72,5803,27,1923,05,7033,20,1793,41,5703,29,0613,34,6743,69,5213,76,9733,79,189—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity36,15135,53137,90030,19923,85718,89126,63329,00114,28335,38867,91563,10213,041
Cash from Investing Activity−27,991−36,232−36,694−39,571−25,139−20,878−33,115−25,672−4,444−15,417−22,781−49,982−23,166
Cash from Financing Activity−3,8835,201−3,7956,2052,0128,8303,3909,904−3,380−26,243−37,006−18,786−1,344
Net Cash Flow4,2774,500−2,589−3,1677306,843−3,09213,2326,459−6,2728,128−5,666−11,469

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %22.021.015.09.09.02.00.06.01.06.019.016.03.0
ROE %————————————75.7
EPS (₹)48.4648.4440.1125.8231.13−99.84−39.08−40.51−34.457.2794.4775.60215.18
Book Value (₹)————————————304.0
Face Value (₹)————————————2
P/E————————————106.0
Div Yield %————————————1.05
NPM %6.05.34.32.83.1−10.4−4.6−5.6−4.00.87.27.419.6
OPM %15.015.014.011.011.08.07.013.09.09.013.013.06.0
D/E0.921.310.881.350.931.761.982.573.292.961.260.620.71
P/B————————————0.9

Growth

As of 18 Oct 2026
Compounded sales growth
10 years+2.0%
5 years+6.0%
3 years−1.0%
TTM−6.0%
Compounded profit growth
10 years+21.0%
5 years+101.0%
3 years+232.0%
TTM−94.0%
Stock price CAGR
10 years−1.0%
5 years+0.0%
3 years−11.0%
Last year−28.0%
Return on equity
10 years20.0%
5 years37.0%
3 years52.0%
Last year76.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters34.73%46.38%46.37%46.36%46.36%42.58%42.58%42.58%42.57%42.57%42.56%42.56%42.51%
FIIs23.24%18.40%18.62%19.20%18.18%20.54%18.66%17.84%17.17%17.13%17.88%17.29%17.11%
DIIs15.35%17.37%17.25%16.01%15.93%16.08%16.54%16.88%16.93%17.03%15.08%16.79%16.97%
Government0.13%0.14%0.14%0.14%0.14%0.29%0.31%0.31%0.31%0.31%0.31%0.31%0.31%
Public26.56%17.70%17.60%18.31%19.39%20.49%21.91%22.39%23.01%22.97%24.14%23.06%23.09%
No. of shareholders5,05,49537,73,31441,84,36946,16,90850,98,55057,27,23464,62,12367,28,24667,52,77566,55,77666,73,64663,78,03262,15,151
Change since Jun 2023 (pp)
Promoters +7.78FIIs −6.13DIIs +1.62Public −3.47

Documents

As of 18 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseSIAM Report - July To September 2026Compliances-Half Yearly Report (SEBI Circular No. CIR/IMD/DF-1/67/2017)Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Press Release / Media Release
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026PPTJun 2026RecordingJun 2026TranscriptJun 2026PPTMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026Recording

Corporate actions

As of 19 Jun 2026
19 Jun 2026DIVIDENDDividend - Rs 3 Per Share—
14 Oct 2025DEMERGERDemerger—
4 Jun 2025DIVIDENDDividend - Rs 6 Per Share—
11 Jun 2024DIVIDENDDividend - Rs 3 Per Share & Special Dividend - Rs 3 Per Share—
28 Jul 2023DIVIDENDDividend - Rs 2 Per Share—
18 Jul 2016DIVIDEND Dividend - Re 0.20/- Per Share—
6 Apr 2015RIGHTSRights 6:109 @ Premium Rs. 448/- Per Share—
9 Jul 2014DIVIDENDAnnual General Meeting / Dividend - Rs 2/- Per Share—
30 Jul 2013DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share—
18 Jul 2012DIVIDENDDividend Rs 4 Per Share—
12 Sep 2011SPLITFace Value Split From Rs.10/- To Rs.2/-10 : 2
19 Jul 2011DIVIDENDDividend-Rs.20/- Per Share—
10 Aug 2010DIVIDENDDividend-Rs.15/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges.© 2026 āagman