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Tata Motors Limited
(TMCV)
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Rating:68Neutral
Price Target:
₹418.00
▼(-10.34% Downside)
Action:N/A
Date:08/17/26
The score is primarily supported by improving financial strength (notably deleveraging) and generally solid profitability, alongside a strong upward technical trend. Offsetting this are (1) volatility and reduced visibility around earnings durability and cash conversion, and (2) a relatively expensive valuation with limited dividend support.
Positive Factors
Balance-sheet deleveraging
Meaningful deleveraging from 2024’s elevated debt-to-equity base to moderate in 2025 and stronger in 2026 improves financial resilience. It can reduce balance-sheet pressure and give Tata Motors more flexibility to fund products, operations, and future investment through the cycle.
Negative Factors
Uneven earnings durability
Although margins and profitability remain positive, the 2026 annual period shows a material revenue and profit step-down after modest 2025 growth. This uneven pattern reduces confidence that current earnings power is durable and makes medium-term planning more dependent on operating recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet deleveraging
Meaningful deleveraging from 2024’s elevated debt-to-equity base to moderate in 2025 and stronger in 2026 improves financial resilience. It can reduce balance-sheet pressure and give Tata Motors more flexibility to fund products, operations, and future investment through the cycle.
Read all positive factors
Tata Motors Limited (TMCV) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.47T
Dividend Yield1.01%
Average Volume (3M)424.34K
Price to Earnings (P/E)23.3
Beta (1Y)1.82
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees20,635
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)11.38
Shares Outstanding3,682,789,300
10 Day Avg. Volume457,456
30 Day Avg. Volume424,340
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)11.41
Price to Sales (P/S)1.73
P/FCF Ratio10.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹530.00Price Target Upside13.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)20.59
Revenue Forecast (FY)₹937.02B
Tata Motors Limited Business Overview & Revenue Model
Company Description
Tata Motors Limited is a leading manufacturer specializing in commercial vehicles, offering a comprehensive range that includes utility vehicles, pickup trucks, heavy-duty trucks, and buses. The company's operations span India and South Korea, com...
How the Company Makes Money
Tata Motors makes money primarily by selling vehicles and associated products and services across its automotive businesses. Its core revenue streams include (1) sales of commercial vehicles (CV): revenue from the sale of trucks, buses, and other ...
Tata Motors Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
76
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 871.97B | 838.55B | 4.37T | 4.31T |
| Gross Profit | 201.85B | 185.85B | 1.63T | 1.56T |
| EBITDA | 71.95B | 74.82B | 621.19B | 632.93B |
| Net Income | 41.91B | 30.30B | 229.59B | 320.45B |
Balance Sheet | ||||
| Total Assets | 0.00 | 523.09B | 3.79T | 3.71T |
| Cash, Cash Equivalents and Short-Term Investments | 130.48B | 130.50B | 674.37B | 597.25B |
| Total Debt | 0.00 | 56.15B | 715.40B | 1.07T |
| Total Liabilities | -127.34B | 395.75B | 2.56T | 2.78T |
| Stockholders Equity | 127.34B | 127.34B | 1.16T | 849.18B |
Cash Flow | ||||
| Free Cash Flow | 4.27B | 133.86B | 250.60B | 365.01B |
| Operating Cash Flow | 7.67B | 147.07B | 631.02B | 679.15B |
| Investing Cash Flow | 8.23B | -40.61B | -475.94B | -228.28B |
| Financing Cash Flow | -7.58B | -43.39B | -187.86B | -370.06B |
Tata Motors Limited Technical Analysis
Negative
466.20
Price Trends
441.72
Negative
427.94
Negative
428.58
Negative
Market Momentum
-10.32
Positive
29.10
Positive
24.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TMCV, the sentiment is Negative. The current price of 466.2 is above the 20-day moving average (MA) of 418.12, above the 50-day MA of 441.72, and above the 200-day MA of 428.58, indicating a bearish trend. The MACD of -10.32 indicates Positive momentum. The RSI at 29.10 is Positive, neither overbought nor oversold. The STOCH value of 24.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TMCV.
Tata Motors Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ₹1.96T | 34.05 | ― | 1.15% | 28.07% | 19.24% | |
74 Outperform | ₹228.21B | 18.29 | ― | 0.29% | 8.44% | 45.33% | |
72 Outperform | ₹3.60T | 25.11 | ― | 1.22% | 26.61% | -1.37% | |
69 Neutral | ₹1.51T | 30.55 | ― | 1.13% | 3.55% | -10.31% | |
68 Neutral | ₹1.47T | 23.29 | ― | 1.01% | ― | ― | |
63 Neutral | ₹3.56T | 17.29 | ― | 3.63% | 25.93% | 34.37% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:TMCV
Tata Motors Limited
399.05
75.06
23.17%
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IN:FORCEMOT
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IN:HYUNDAI
Hyundai Motor India Limited
1,854.00
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2,860.00
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IN:MARUTI
Maruti Suzuki India Limited
11,454.85
-4,695.73
-29.07%
Tata Motors Limited Corporate Events
Tata Motors Nears Control of Iveco Group After Successful Tender Offer
Oct 26, 2026
Tata Motors’ wholly owned subsidiary TML CV Holdings B.V. has secured 89.42 percent of Iveco Group N.V.’s common share capital, net of treasury shares, through a voluntary tender offer that closed on October 26, 2026. The offer, whose ...
Tata Motors Releases Q2 FY2026 Investor Presentation
Oct 23, 2026
Tata Motors Limited has submitted an investor presentation to stock exchanges, outlining its financial results and operations for the second quarter and half year ended September 30, 2026. The presentation, prepared for analysts and investors, has...
Tata Motors to Host Global Investor Call on Q2 FY27 Results
Oct 5, 2026
Tata Motors Limited has scheduled an investor and analyst conference call on October 23, 2026, to discuss its financial results and operations for the quarter ended September 30, 2026. Senior management, including the managing director and chief f...
Tata Motors unit buys 26% in Hyderabad e-mobility firm to bolster electric bus operations
Sep 28, 2026
Tata Motors, via its wholly owned subsidiary TML Smart City Mobility Solutions, has acquired a 26% stake in Mateshwari E-Smart Mobility (Hyderabad) Private Limited for ₹2,60,000, making the newly incorporated firm an associate company. The m...
Tata Motors Subsidiary Launches Tender Offer for Iveco Group Shares
Sep 4, 2026
Tata Motors has disclosed that its indirect wholly owned subsidiary, TML CV Holdings B.V., has published the offer document for a voluntary tender offer to acquire all common shares of Iveco Group N.V. The document has been approved by Italian reg...
Tata Motors Launches All-Cash Tender Offer for Iveco Group Shares
Sep 4, 2026
Tata Motors has launched an all-cash voluntary tender offer for all issued common shares of Iveco Group at EUR 14.1 per share, marking a significant move to acquire the international commercial vehicle and mobility leader. The offer, running from ...
Tata Motors Subsidiary Wins Consob Nod for Iveco Takeover Offer
Sep 3, 2026
Tata Motors’ indirect wholly owned subsidiary TML CV Holdings B.V. has received approval from the Italian regulator Consob for its voluntary tender offer to acquire all common shares of Iveco Group N.V. The approved offer document enables th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.