Tata Motors CV Q4 revenue rises 22% to ₹24,452 crore; EBITDA jumps 35%

Tata Motors’ commercial vehicle business reported a strong performance for the fourth quarter of FY26, driven by higher volumes, improved realisations and operational efficiencies, even as the company maintained focus on profitable growth.

For Q4FY26, standalone revenue from the commercial vehicles business rose 22% year-on-year to ₹24,452 crore, compared to ₹19,999 crore in the corresponding quarter last year. EBITDA increased 35% to ₹3,402 crore from ₹2,314 crore, while EBITDA margin expanded 130 basis points to 13.9%.

Profit before tax (before exceptional items) for the quarter stood at ₹2,972 crore, up sharply from ₹1,883 crore a year ago. EBIT margin also improved to 12.1% from 9.9% in Q4FY25.

Tata Motors said the quarterly performance was supported by disciplined execution, better volumes, continued cost efficiencies and improved pricing, although partially offset by higher input costs. Profit after tax for the quarter came in at ₹2,400 crore, compared to ₹700 crore in the same quarter last year.

The company’s consolidated commercial vehicle revenue for Q4FY26 stood at ₹26,100 crore, up 19% year-on-year. Consolidated EBITDA margin improved to 13.1%, while consolidated profit after tax rose 35% to ₹1,800 crore.

For the full financial year FY26, Tata Motors’ standalone commercial vehicle revenue rose 11% year-on-year to ₹77,399 crore from ₹69,419 crore in FY25. EBITDA for the year climbed 22% to ₹10,195 crore, while EBITDA margin improved to 13.2% from 12%.

Profit before tax (before exceptional items) for FY26 stood at ₹8,682 crore, up from ₹5,961 crore in FY25. The company said strong operational performance and disciplined capital allocation helped it deliver a robust return on capital employed during the year.

The board of directors has recommended a final dividend of ₹4 per share, subject to shareholder approval.

During FY26, the commercial vehicles business recorded total wholesales of 428,000 units, up 14% year-on-year. Domestic and export volumes rose 12% and 54%, respectively. The company also highlighted multiple business milestones during the year, including the launch of 17 next-generation trucks, securing its largest-ever bus order of over 70,000 units for Indonesia, and winning orders for over 5,000 buses from multiple state transport undertakings.

Tata Motors also provided an update on the proposed acquisition of Iveco, stating that most regulatory approvals have already been received and the company expects to complete the transaction by Q2FY27.

Girish Wagh, MD & CEO, Tata Motors Ltd, said FY26 marked a landmark year for the commercial vehicle business as the company delivered milestone revenues and profits while strengthening market position despite geopolitical uncertainties.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice.