Tata Motors Passenger Vehicles (TMPV) AI Stock Analysis

Tata Motors Passenger Vehicles

(NSE:TMPV)

Select Model

Rating:56Neutral

Price Target:INR 273.00▲(0.22% Upside)

Action:reiterated

Date:09/18/26

The score is anchored by mixed financial performance: improved profitability and a de-risked balance sheet are offset by the latest year’s sharp revenue decline, near-breakeven operating margin, and negative free cash flow. Technicals are weak-to-neutral with price below key longer-term moving averages and a negative MACD. Valuation is the main positive, supported by a very low P/E and a modest dividend yield.

Positive Factors

Return to Positive ProfitabilityThe shift from losses to positive net margins indicates a meaningful multi-year profitability turnaround. If maintained, this improves internal funding capacity, supports reinvestment in products and distribution, and provides a stronger earnings base through the next several quarters.

Negative Factors

Sharp Revenue DeclineThe sharp revenue contraction signals weaker recent vehicle demand, volume, mix, or market execution and reduces operating scale. If the decline persists, it can limit fixed-cost absorption, weaken investment capacity, and make a durable recovery in earnings more difficult.

Tata Motors Passenger Vehicles (TMPV) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 977.47B
Dividend Yield: 1.10%
Average Volume (3M): 651.08K
Price to Earnings (P/E): 1.3
Beta (1Y): 1.41
Revenue Growth: -21.70%
EPS Growth: 267.29%
Country: India
Employees: 60,332
Sector: General
Sector Strength: 55
Industry: Auto - Manufacturers

Tata Motors Passenger Vehicles Business Overview & Revenue Model

Company Description

Tata Motors Passenger Vehicles Limited is an automotive enterprise involved in the entire lifecycle of vehicle production, from conception and engineering to manufacturing and distribution. Its diverse product line encompasses conventional passenger...

How the Company Makes Money

TMPV primarily makes money by selling new passenger vehicles to customers through its dealership network, generating revenue from the invoice price of vehicles sold (including sales of ICE vehicles and EVs). Beyond initial vehicle sales, it earns fro...

Tata Motors Passenger Vehicles Financial Statement Overview

Summary

Multi-year turnaround from losses to positive net margins and improved leverage is a clear positive, but the latest year shows an -18.5% YoY revenue decline, EBIT margin compressing to ~0.4% (from ~8% in 2024–2025), and free cash flow turning meaningfully negative (-232B). The disconnect between strong net income and weak cash conversion raises earnings-quality and funding-volatility concerns.

Income Statement

56Neutral

Balance Sheet

68Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	3.51T	3.33T	4.40T	4.34T	3.46T	2.78T
Gross Profit	1.33T	1.19T	1.99T	1.88T	1.38T	1.13T
EBITDA	223.15B	214.57B	585.90B	608.74B	347.43B	269.38B
Net Income	823.91B	823.90B	278.30B	313.99B	24.14B	-114.41B
Balance Sheet
Total Assets	3.82T	3.82T	3.79T	3.71T	3.36T	3.31T
Cash, Cash Equivalents and Short-Term Investments	478.28B	478.28B	615.48B	599.29B	513.76B	634.45B
Total Debt	791.09B	813.95B	715.40B	1.10T	1.37T	1.48T
Total Liabilities	2.63T	2.63T	2.56T	2.78T	2.83T	2.82T
Stockholders Equity	1.12T	1.12T	1.16T	849.18B	453.22B	445.61B
Cash Flow
Free Cash Flow	-82.81B	-232.41B	250.60B	365.02B	172.92B	-8.86B
Operating Cash Flow	-18.26B	130.41B	631.02B	679.15B	353.88B	142.83B
Investing Cash Flow	-53.66B	-248.10B	-475.94B	-228.28B	-168.04B	-47.75B
Financing Cash Flow	-40.06B	-13.44B	-187.86B	-370.06B	-262.43B	-33.80B

Tata Motors Passenger Vehicles Technical Analysis

Technical Analysis SentimentNegative

Last Price272.40

Price Trends

50DMA293.13Negative

100DMA319.03Negative

200DMA334.94Negative

Market Momentum

MACD-8.30Negative

RSI41.68Neutral

STOCH34.60Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TMPV, the sentiment is Negative. The current price of 272.40 is below the 20-day moving average (MA) of 275.99, below the 50-day MA of 293.13, and below the 200-day MA of 334.94, indicating a bearish trend. The MACD of -8.30 indicates Negative momentum. The RSI at 41.68 is Neutral, neither overbought nor oversold. The STOCH value of 34.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TMPV.

Tata Motors Passenger Vehicles Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:TMPV against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:MARUTI	73Outperform	INR 3.59T	27.28	―	1.20%	29.61%	-8.99%
IN:M&M	71Outperform	INR 3.54T	17.35	―	3.62%	25.93%	34.37%
IN:HYUNDAI	62Neutral	INR 1.55T	35.26	―	1.05%	7.97%	-19.97%
IN:TMPV	56Neutral	INR 976.73B	1.26	―	1.10%	-21.70%	267.29%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:TMPV and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:TMPV	Tata Motors Passenger Vehicles Ltd	271.50	-131.66	-32.66%
IN:HYUNDAI	Hyundai Motor India Limited	1985.00	-385.32	-16.26%
IN:M&M	Mahindra & Mahindra Ltd.	2869.95	-674.35	-19.03%
IN:MARUTI	Maruti Suzuki India Limited	11660.00	-3556.71	-23.37%

Tata Motors Passenger Vehicles Corporate Events

Tata Motors Passenger Vehicles Posts 23% Sales Surge in October on Strong EV and Export Growth

Nov 1, 2026

Tata Motors Passenger Vehicles Ltd. reported combined domestic and international sales of 75,426 units in October 2026, up 23% from 61,295 units a year earlier, underscoring strong momentum in its passenger vehicle business. Domestic passenger vehicl...

Tata Motors PV alerts investors to special window for physical share transfer deeds

Oct 30, 2026

Tata Motors Passenger Vehicles Limited has issued public communications to inform stakeholders about a Special Window for the re-lodgement of transfer deeds related to physical shares. Acting under SEBI’s Listing Obligations and Disclosure Requ...

Tata Motors, Stellantis Seal Technology Pact to Build Global Vehicles in India

Oct 12, 2026

Tata Motors Passenger Vehicles Limited and Stellantis have signed a definitive agreement that deepens their long-standing partnership by integrating advanced product technology and vehicle architecture from Tata with Stellantis’ global developm...

Tata Motors Passenger Vehicles Shuts Trading Window Ahead of Q2 Results

Sep 22, 2026

Tata Motors Passenger Vehicles Limited has notified the stock exchanges that its trading window for dealing in the company’s securities will be closed from September 23, 2026. The move is in line with its Code of Conduct for Prevention of Insid...

Tata Motors Passenger Vehicles posts 56% sales surge in August 2026

Sep 1, 2026

Tata Motors Passenger Vehicles Ltd. reported total sales of 67,753 passenger vehicles in August 2026 across domestic and international markets, up 56% from 43,315 units a year earlier, underscoring strong demand momentum. Domestic passenger vehicle s...

Tata Motors Passenger Vehicles to Hike Car and SUV Prices from September 2026

Aug 21, 2026

Tata Motors Passenger Vehicles Ltd. will increase prices across its portfolio of cars and SUVs, covering both internal combustion engine and electric models, by up to Rs 25,000 from 1 September 2026. The company says price hikes will vary by model an...

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.

Date of analysis: Sep 18, 2026

Tata Motors Passenger Vehicles AI Stock Analysis