Key Metrics of Tata Capital Limited
About Tata Capital Limited
Sectors
Company details
- Website
- tatacapital.com
- Registered office
- 11th Floor, Tower A, Peninsula Business Park Ganpatrao Kadam Marg Lower Parel, Mumbai, In-mh, 400013
- Listed
- NSE: TATACAP · ₹319.90
Operational Areas of Tata Capital Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 21 Jul 2026 | ICRA | Reaffirmed | AAA | A1+ | Stable | ₹2,76,409 Cr | View |
| 19 Jun 2026 | ICRA | Reaffirmed | AAA | A1+ | Stable | ₹2,66,784 Cr | View |
| 08 Apr 2026 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹61,755 Cr | View |
| 28 May 2025 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹62,748 Cr | View |
| 08 Jan 2025 | CARE | Reaffirmed | AAA | — | Stable | ₹11,308 Cr | View |
| 14 Jun 2024 | CARE | Other | — | — | — | — | View |
| 09 Feb 2024 | CARE | Other | — | — | — | — | View |
| 09 Jan 2024 | CARE | Assigned | AAA | — | Stable | ₹11,976 Cr | View |
| 19 Apr 2012 | CARE | Other | — | — | — | — | View |
| 25 Jul 2011 | CARE | Other | — | — | — | — | View |
| 13 May 2011 | CARE | Other | — | — | — | — | View |
| 22 Dec 2010 | CARE | Other | — | — | — | — | View |
| 04 Nov 2010 | CARE | Other | — | — | — | — | View |
| 08 Sep 2010 | CARE | Other | — | — | — | — | View |
| 30 Apr 2010 | CARE | Other | — | — | — | ₹14,418 Cr | View |
| 02 Feb 2010 | CARE | Other | — | — | — | ₹68,247 Cr | View |
| 29 Dec 2009 | CARE | Other | — | — | — | — | View |
| 30 Nov 2009 | CARE | Other | — | — | — | ₹68,247 Cr | View |
| 17 Jun 2009 | CARE | Other | — | — | — | — | View |
| 11 Jun 2009 | CARE | Other | — | — | — | — | View |
| 12 May 2009 | CARE | Other | — | — | — | — | View |
| 30 Jan 2009 | CARE | Other | — | — | — | — | View |
Credit strengths (ICRA, Jul 2026)
+ Strong parentage and strategic importance to the Tata Group; supports financial flexibility
TCL is a majority-owned subsidiary of TSPL (78.8% stake in TCL’s equity shares as on March 31, 2026) and is strategically important to the Tata Group (85.4% stake in TCL’s equity shares as on March 31, 2026) as it is the sole financial services business ofthe Tata Group.
+ Diverse product mix; majority share of retail portfolio
The consolidated net assets under management (AUM) for the TCL Group increased by 20% year on year (YoY) to Rs. 2,77,275 as on March 31, 2026 from Rs. 2,30,455 crore as on March 31, 2025 and grew lower than previous years because of the decline in the motor finance book and calibrated approach in unsecured retail segments.
+ Good asset quality and healthy provision cover
The consolidated GS3 and NS3 stood comfortable at 2.0% and 0.9%, respectively, as on March 31, 2026 compared to 1.9% and 0.8%, respectively, as on March 31, 2025, supported by lower slippages in the unsecured retail segment.
+ Adequate earnings profile
On a consolidated basis, the TCL Group’s earnings were adequate, supported by the decline in operating expenses and reduction in credit costs despite compression in net interest margin (NIM).
Credit challenges
− Maintaining adequate capital buffers key in view of growth plans
The fresh issue of ~Rs. 6,700 crore during the IPO in October 2025 strengthened the consolidated net worth to Rs. 45,904 crore as on March 31, 2026 compared to Rs. 32,417 crore as on March 31, 2025.
Could lead to a downgrade
Pressure on the ratings could emerge due to a deterioration in TCL’s consolidated capitalisation profile on a sustained basis and/or weakening of the asset quality leading to a deterioration in solvency (NS3/Net worth more than 20%) on a sustained basis. A significant change in the likelihood of support from the parent or a deterioration in the parent’s credit profile could warrant a rating revision. www.icra .in Sensitivity Label : Public Page |3
Agency-reported financials (ICRA, 21 Jul 2026)
| Metric | FY2024 | FY2025 | FY2026 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Total income | ₹13,309 Cr | ₹21,940 Cr | ₹23,089 Cr | ₹18,198 Cr | ₹28,370 Cr | ₹31,583 Cr |
| Profit after tax (reported) | ₹2,492 Cr | ₹2,594 Cr | ₹3,201 Cr | ₹3,327 Cr | ₹3,655 Cr | ₹4,891 Cr |
| Total managed assets | ₹1,33,507 Cr | ₹1,91,893 Cr | ₹2,18,046 Cr | ₹1,87,162 Cr | ₹2,61,511 Cr | ₹3,05,134 Cr |
| Return on average managed assets | 2.1% | 1.6% | 1.6% | 2.0% | 1.6% | 1.7% |
| Managed Gearing (times) | 5.60× | 6.00× | 4.50× | 6.30× | 6.80× | 5.40× |
| Gross stage | 1.7% | 2.3% | 2.6% | 1.5% | 1.9% | 2.0% |
| CRAR | 16.7% | 16.9% | 19.0% | — | — | — |
| Revenue growth (YoY) | — | 64.9% | 5.2% | −21.2% | 55.9% | 11.3% |
| PAT margin | 18.7% | 11.8% | 13.9% | 18.3% | 12.9% | 15.5% |
Borrowings & rated debt
Rated limits over time
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Non-convertible debenture programme | Debentures & bonds | ₹0 | ₹10,000 Cr | — | AAA (Stable) | Assigned | ICRA |
| Non-convertible debenture programme | Debentures & bonds | ₹59,366 Cr | ₹59,366 Cr | 0.0% | AAA (Stable) | Reaffirmed | ICRA |
| Non-convertible debenture programme | Debentures & bonds | ₹1,025 Cr | ₹1,025 Cr | 0.0% | AAA (Stable) | Reaffirmed | ICRA |
| Subordinated debt programme | Subordinated debt | ₹5,580 Cr | ₹5,580 Cr | 0.0% | AAA (Stable) | Reaffirmed | ICRA |
| Subordinated debt programme | Subordinated debt | ₹400 Cr | ₹400 Cr | 0.0% | AAA (Stable) | Reaffirmed | ICRA |
| Retail bonds programme (incl. subordinated debt) | Subordinated debt | ₹5,000 Cr | ₹5,000 Cr | 0.0% | AAA (Stable) | Reaffirmed | ICRA |
| Perpetual debt programme | Subordinated debt | ₹2,038 Cr | ₹2,038 Cr | 0.0% | AA+ (Stable) | Reaffirmed | ICRA |
| Long term/Short term – Fund-based/Non-fund based | Non-fund based limits | ₹1,62,500 Cr | ₹1,62,500 Cr | 0.0% | AAA / A1+ (Stable) | Other | ICRA |
| Commercial paper programme | Commercial paper | ₹30,500 Cr | ₹30,500 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
| Non-convertible debenture programme | Debentures & bonds | ₹325 Cr | ₹0 | −100.0% | AAA (Stable) | Reaffirmed | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| INE306N07LL7 | Non | Debentures & bonds | — | 26 Aug 2019 | 26 Aug 2027 | ₹92.5 Cr | AAA | Outstanding |
| INE306N07LM5 | Non | Debentures & bonds | — | 26 Aug 2019 | 26 Aug 2027 | ₹600 Cr | AAA | Outstanding |
| INE306N08284 | Non | Debentures & bonds | — | 27 Sep 2018 | 27 Sep 2028 | ₹29.6 Cr | AAA | Outstanding |
| INE306N08292 | Non | Debentures & bonds | — | 27 Sep 2018 | 27 Sep 2028 | ₹342 Cr | AAA | Outstanding |
| INE306N08334 | Non | Debentures & bonds | — | 26 Aug 2019 | 26 Aug 2029 | ₹4.65 Cr | AAA | Outstanding |
| INE306N08342 | Non | Debentures & bonds | — | 26 Aug 2019 | 26 Aug 2029 | ₹173 Cr | AAA | Outstanding |
| INE306N07NO7 | Non convertible Debentures Aug Dec | Debentures & bonds | 7.91% | — | — | ₹3,000 Cr | AAA | Not stated |
| INE306N07NS8 | Non convertible Debentures Nov Jan | Debentures & bonds | 8.10% | — | — | ₹1,500 Cr | AAA | Not stated |
| INE976I07DC3 | @ Non convertible Debentures Mar Mar | Debentures & bonds | 8.30% | — | — | ₹2,000 Cr | AAA | Not stated |
| INE976I07CT9 | Non convertible Debentures Feb May | Debentures & bonds | 8.29% | — | — | ₹1,640 Cr | AAA | Not stated |
| INE306N07MX0 | Non convertible Debentures Jul Jul | Debentures & bonds | 7.89% | — | — | ₹475 Cr | AAA | Not stated |
| INE306N07NA6 | Non convertible Debentures Sep Sep | Debentures & bonds | 7.68% | — | — | ₹206 Cr | AAA | Not stated |
| INE976I07CY9 | & Non convertible Debentures Nov Sep | Debentures & bonds | — | — | — | ₹1,500 Cr | AAA | Not stated |
| INE306N07ND0 | Non convertible Debentures Oct Oct | Debentures & bonds | 8.00% | — | — | ₹500 Cr | AAA | Not stated |
| INE306N07NQ2 | Non convertible Debentures Aug Dec | Debentures & bonds | 7.91% | — | — | ₹3,000 Cr | AAA | Not stated |
| INE306N07NI9 | Non convertible Debentures Feb Feb | Debentures & bonds | 7.95% | — | — | ₹110 Cr | AAA | Not stated |
| INE306N07NP4 | Non convertible Debentures Jul Jul | Debentures & bonds | 7.97% | — | — | ₹610 Cr | AAA | Not stated |
| INE306N07NT6 | Non convertible Debentures Oct Oct | Debentures & bonds | 8.07% | — | — | ₹244 Cr | AAA | Not stated |
| INE976I07DB5 | Non convertible Debentures Nov Nov | Debentures & bonds | 7.12% | — | — | ₹800 Cr | AAA | Not stated |
| INE306N07KL9 | Non convertible Debentures Dec Dec | Debentures & bonds | 9.25% | — | — | ₹112 Cr | AAA | Not stated |
| INE976I07CS1 | Non convertible Debentures Feb Feb | Debentures & bonds | 7.99% | — | — | ₹115 Cr | AAA | Not stated |
| INE976I07DE9 | Non convertible Debentures May Feb | Debentures & bonds | — | — | — | ₹2,950 Cr | AAA | Not stated |
| INE976I07CV5 | Non convertible Debentures May Mar | Debentures & bonds | 8.14% | — | — | ₹416 Cr | AAA | Not stated |
| INE976I07DF6 | Non convertible Debentures Jun Jun | Debentures & bonds | 8.15% | — | — | ₹2,030 Cr | AAA | Not stated |
| INE306N07LF9 | Non convertible Debentures Jun Jun | Debentures & bonds | 8.70% | — | — | ₹273 Cr | AAA | Not stated |
| INE306N07LO1 | Non convertible Debentures Nov Nov | Debentures & bonds | 8.50% | — | — | ₹100 Cr | AAA | Not stated |
| INE306N07LS2 | Non convertible Debentures Mar Mar | Debentures & bonds | 7.85% | — | — | ₹1,000 Cr | AAA | Not stated |
| INE976I07CZ6 | Non convertible Debentures Apr Apr | Debentures & bonds | 7.62% | — | — | ₹1,500 Cr | AAA | Not stated |
| INE976I07DA7 | Non convertible Debentures Nov Nov | Debentures & bonds | 7.30% | — | — | ₹750 Cr | AAA | Not stated |
| INE976I07DD1 | Non convertible Debentures May May | Debentures & bonds | 7.97% | — | — | ₹505 Cr | AAA | Not stated |
| INE976I07DG4 | Non convertible Debentures Jul Jul | Debentures & bonds | 7.88% | — | — | ₹2,750 Cr | AAA | Not stated |
| INE306N07MN1 | Non convertible Debentures Sep Sep | Debentures & bonds | 7.10% | — | — | ₹95.0 Cr | AAA | Not stated |
| INE306N07MO9 | Non convertible Debentures Jan Jan | Debentures & bonds | 7.55% | — | — | ₹1,250 Cr | AAA | Not stated |
| INE306N07MQ4 | Non convertible Debentures Apr Apr | Debentures & bonds | 7.65% | — | — | ₹181 Cr | AAA | Not stated |
| INE306N07MS0 | Non convertible Debentures Jun Jun | Debentures & bonds | 8.00% | — | — | ₹250 Cr | AAA | Not stated |
| INE306N07MZ5 | Non convertible Debentures Aug Aug | Debentures & bonds | 7.95% | — | — | ₹188 Cr | AAA | Not stated |
| INE306N07NJ7 | Non convertible Debentures Feb Feb | Debentures & bonds | 8.05% | — | — | ₹81.0 Cr | AAA | Not stated |
| INE306N07NU4 | Non convertible Debentures Dec Dec | Debentures & bonds | 8.11% | — | — | ₹2,500 Cr | AAA | Not stated |
| INE306N07NN9 | Non convertible Debentures Feb Feb | Debentures & bonds | 7.99% | — | — | ₹242 Cr | AAA | Not stated |
| INE976I07CX1 | Non convertible Debentures Jul Jul | Debentures & bonds | 8.01% | — | — | ₹630 Cr | AAA | Not stated |
CARE ratings on record (checked 27 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Commercial Paper (Standalone) | ₹10,500 Cr | CARE A1+ |
| Long Term | ₹37,500 Cr | CARE AAA; Stable |
| Non Convertible Debentures | ₹10,510 Cr | CARE AAA; Stable |
| Perpetual Bonds | ₹350 Cr | CARE AA+; Stable |
| Perpetual Debt | ₹140 Cr | CARE AA+; Stable |
| Subordinate Debt | ₹1,280 Cr | CARE AAA; Stable |
| Subordinated | ₹1,475 Cr | CARE AAA; Stable |
Lenders
| Term Loan | Long Term | Proposed |
Credit assessment · Non-banking finance companies
Rating Methodology – Non-Banking Finance Companies (Feb 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Instrument ratings
| Instrument | Type | Rated | Per criteria | Basis |
|---|---|---|---|---|
| Subordinated debt programme | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Retail bonds programme (incl. subordinated debt) | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Perpetual debt programme | Perpetual debt | AA+ ICRA | AA+ | senior − 1 |
| Non convertible Debentures Dec Dec | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Nov Nov | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Dec Dec | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Mar Mar | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Jun Apr | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Jul Apr | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme May May | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Jan Nov | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Sep Sep | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Oct Sep | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Mar Sep | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Subordinated debt programme Jun Jun | Subordinated debt | AAA ICRA | AAA | senior − 0 |
| Perpetual bonds | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Subordinated debt | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Mar Mar | Subordinated debt | AA+ CARE | AAA1 notch lower than criteria | senior − 0 |
| Jan Jan | Subordinated debt | AA+ CARE | AAA1 notch lower than criteria | senior − 0 |
| Jun Jun | Subordinated debt | AA+ CARE | AAA1 notch lower than criteria | senior − 0 |
| Bonds Subordinated Jul | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Oct Jul | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Jul Jul | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Feb Nov | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Nov | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Jun May | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated May | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Jul Apr | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Jun Apr | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Apr Apr | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Oct Oct | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Aug | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Mar Mar | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Long Term Instruments-Debt-Perpetual Debt Long Term Instruments-Debt-Subordinate | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Perpetual Bonds | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Subordinated Debt | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Perpetual Mar Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Perpetual Jul Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Perpetual Jan Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Non-Convertible Debentures Perpetual Bonds | Perpetual debt | AAA CARE | AA+1 notch higher than criteria | senior − 1 |
| Bonds Perpetual Bonds Mar Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Bonds Perpetual Bonds Jul Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Bonds Perpetual Bonds Jan Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Bonds Perpetual Bonds Feb Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Bonds Perpetual Bonds Jun Perpetual | Perpetual debt | AA+ CARE | AA+ | senior − 1 |
| Bonds Subordinated Debt Sep Sep | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Debt Jan Jan | Subordinated debt | AAA CARE | AAA | senior − 0 |
| Bonds Subordinated Debt Mar Mar | Subordinated debt | AAA CARE | AAA | senior − 0 |
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 61% |
| Information on file | 67% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 61% chance the next rating action is stable or better
- Current rating AAA (investment grade)
What happened, step by step
- Apr 2026 — Rated term loans fell from ₹37,500 cr to ₹0 cr
- Jul 2026 — ₹2,500 cr raised through equity from TSPL
“The demonstrated support to the TCL Group from TSPL is also highlighted by the capital infusions of Rs. 2,500 crore in FY2019 and Rs. 1,000 crore in FY2020 along with Rs. 594 crore in FY2023, ~Rs. 2,000 crore in FY2024 and ~Rs. 1,400 crore (total rights issue of Rs. 1,504 crore) in FY2025.”
- Apr 2026 — Rated term loans fell from ₹37,500 cr to ₹0 cr
- Jul 2026 — ₹93 cr raised through equity
“The transaction is based on a pre-money equity valuation of YLL not exceeding Rs. 318 crore (net worth of Rs. 115 crore as on March 31, 2026) and includes a primary capital infusion of ~Rs. 93 crore.”
- Apr 2026 — ₹1,500 cr raised from TSPL
- Apr 2026 — Rated term loans fell from ₹37,500 cr to ₹0 cr
“Comfortable capitalisation levels TCL’s consolidated tangible net worth (TNW) stood at ₹32,892 crore as on March 31, 2025 (March 31, 2024: ₹24,069 crore), with gearing improving to 6.04x from 6.16x, supported primarily by a ₹1,500 crore capital infusion by TSPL in FY25.”
- May 2025 — ₹7,500 cr raised
- Apr 2026 — Rated term loans fell from ₹37,500 cr to ₹0 cr
“Press Release In the last seven years, TCL has received capital infusion of ₹7,500 crore, of which ₹1,500 crore was infused in FY25, ₹2000 crore was infused in FY24, ₹500 crore was infused in FY23, ₹1,000 crore was infused in FY20, ₹2,500 crore was infused in FY19.”
Rated limits by facility
Timeline
From the report
The demonstrated support to the TCL Group from TSPL is also highlighted by the capital infusions of Rs. 2,500 crore in FY2019 and Rs. 1,000 crore in FY2020 along with Rs. 594 crore in FY2023, ~Rs. 2,000 crore in FY2024 and ~Rs. 1,400 crore (total rights issue of Rs. 1,504 crore) in FY2025.
From the report
The transaction is based on a pre-money equity valuation of YLL not exceeding Rs. 318 crore (net worth of Rs. 115 crore as on March 31, 2026) and includes a primary capital infusion of ~Rs. 93 crore.
From the report
Credit challenges Maintaining adequate capital buffers key in view of growth plans – The fresh issue of ~Rs. 6,700 crore during the IPO in October 2025 strengthened the consolidated net worth to Rs. 45,904 crore as on March 31, 2026 compared to Rs. 32,417 crore as on March 31, 2025.
From the report
The demonstrated support to the TCL Group from TSPL is also highlighted by the capital infusions of Rs. 2,500 crore in FY2019 and Rs. 1,000 crore in FY2020 along with Rs. 594 crore in FY2023, ~Rs. 2,000 crore in FY2024 and ~Rs. 1,400 crore (total rights issue of Rs. 1,504 crore) in FY2025.
From the report
Going forward, the TCL Group’s profitability profile is expected to improve from current levels , supported by higher-yielding retail segments. www.icra .in Sensitivity Label : Public Page |2 Credit challenges Maintaining adequate capital buffers key in view of growth plans – The fresh issue of ~Rs. 6,700 crore during the IPO in October 2025 strengthened the consolidated net worth to Rs. 45,904 crore as on March 31, 2026 compared to Rs. 32,417 crore as on March 31, 2025.
From the report
In the last three years, TCL has received equity infusion of ~₹12,000 crore in the last three years, comprising ₹2,000 crore in FY24, ₹1,500 crore in FY25, and ₹8,350 crore in FY26, with the FY26 infusion being raised through a combination of a rights issue and IPO-related proceeds in connection with the merger.
From the report
Comfortable capitalisation levels TCL’s consolidated tangible net worth (TNW) stood at ₹32,892 crore as on March 31, 2025 (March 31, 2024: ₹24,069 crore), with gearing improving to 6.04x from 6.16x, supported primarily by a ₹1,500 crore capital infusion by TSPL in FY25.
From the report
The subsequent IPO in October 2025 led to primary infusion of ₹6,846 crore in TCL, further strengthening the net worth to ₹43,153 crore.
From the report
As on December 31, 2025, the company maintained consolidated cash and liquid investments of ₹7,512 crore, undrawn bank lines of ₹30,346 crore, and anticipated collections from advances of ₹77,618 crore, which together provide comfortable coverage against one-year debt obligations of ₹56,530 crore.
From the report
Press Release In the last seven years, TCL has received capital infusion of ₹7,500 crore, of which ₹1,500 crore was infused in FY25, ₹2000 crore was infused in FY24, ₹500 crore was infused in FY23, ₹1,000 crore was infused in FY20, ₹2,500 crore was infused in FY19.
From the report
Comfortable capitalisation levels TCL’s consolidated tangible net worth stood at ₹32,892 crore as of March 2025 (PY: ₹24,069 crores) with gearing of 6.04x (PY: 6.16x), primarily driven by capital infusion of ₹1500 crore by TSPL in FY25.
From the report
As of March 2025, TCL’s cash and liquid investments on consolidated basis stood at ₹ 29,841 crore against next four months against debt obligations of ₹ 29,020 crore.
From the report
In the last six years, TCL has received capital infusion to the tune of ₹6000 crores, out of which ₹2000 crore and ₹500 crore was infused during FY24 and FY23 respectively, while ₹1,000 crore was infused during FY20 and ₹2,500 crore was infused during FY19.
From the report
Comfortable capitalisation levels TCL’s consolidated tangible net worth stood at ₹ 24,069 crores as of March 31, 2024, [PY.: ₹17,726 crores] with gearing of 6.16 times [PY.: 6.39 times], primarily driven by capital infusion of ₹2000 crore by TSPL during FY24.
From the report
As of September 2024, TCL’s cash and liquid investments on consolidated basis stood at ₹ 33,978 Crore as against next 4 months against debt obligations of ₹ 26,796 Crore.
From the report
Cash and liquid investments for next 12 months stood at ₹ 5,797 crore and loan receivables stood at ₹50,045 crores against debt obligations of ₹ 41,402 crore; thereby providing sufficient buffers.
From the report
In the last five years, TCL has received capital infusion to the tune of ₹5,000 crore, out of which ₹500 crore and ₹1,000 crore was infused during FY23 and H1FY24 respectively while ₹1,000 crore was infused during FY20, and ₹2,500 crore was infused during FY19.
From the report
As of September 30, 2023, TCL’s cash and liquid investments on consolidated basis stood at ₹7,142 crore as against the next four months against debt obligations of ₹21,362 crore.
From the report
In the last five years, TCL has received capital infusion to the tune of ₹500 crore in FY23, ₹1,000 crorein FY20 and ₹2,500 crore in FY19.
From the report
CARE has assigned ‘CARE AA+’ [Double A Plus] rating to the proposed NCD issue of Tata Capital Ltd. aggregating to Rs.500 crore.
From the report
(FOR ENHANCED AMOUNT) CARE has assigned ‘CARE AA+’ [Double A Plus] rating to the proposed NCD issue of Tata Capital Ltd. for an enhanced amount of Rs.500 crore (enhanced from Rs.100 crore).
From the report
CARE has assigned ‘CARE AA+’ [Double A Plus] rating to the proposed NCD issue of Tata Capital Ltd. aggregating to Rs.100 crore.
From the report
CARE has assigns ‘CARE AA’ [Double A] rating to the proposed Subordinated debt issue of Tata Capital Limited for an aggregate amount of Rs.1,000 crores.
From the report
CARE has assigned a ‘CARE AA+’ [Double A plus] rating to the proposed Non Convertible debenture issue of Tata Capital Limited (TCL) up to an amount of Rs.1,500 crs having maturity between 1-7 years.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Tata Capital Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Bajaj Finserv |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | bajajfinserv.in | 2007 | Pune, India |
 Power Finance Corporation |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | pfc.gov.in | 1986 | New Delhi, India |
| Bajaj Finance |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | bajajfinserv.in | — | Pune, India |
 REC Limited |
Maharatna & Navratna PSUs · Public Sector (PSU) & Government | recindia.nic.in | 1997 | New Delhi, India |
 Shri Ram Finance Corporation Private Limited |
NBFC, Lending & Housing Finance · Finance | shriramfinance.in | — | Raipur, Chhattisgarh, India |
 Aditya Birla Capital Limited |
General Insurance · Insurance | adityabirlacapital.com | — | Gujarat, India |
| Cholamandalam Financial Holdings Limited | · Finance | — | — | Chennai, Tamil Nadu, India |
 Muthoot Finance |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | muthootfinance.com | — | Ernakulam, India |
| NBFC, Lending & Housing Finance · Banking & Financial Services | irfc.co.in | — | Delhi, India | |
| Abans Financial Services Limited | Fintech, Broking & Market Infrastructure · Banking & Financial Services | — | — | Mumbai, Maharashtra, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Personal, home and business loans
Filings
No filings on record yet.