Key Metrics of Tata Motors
About Tata Motors
Outlets operated by Sri Lakshmi Motors.
Sectors
Company details
- Website
- tatamotors.com
- Founded
- 1945
- Registered office
- Bombay House, 24 Homi Mody Street,, Mumbai, In-mh, 400001
- Listed
- NSE: TMCV · ₹401.40
Operational Areas of Tata Motors
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.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
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 |
|---|---|---|---|---|---|---|---|
| 29 Sep 2026 | ICRA | Reaffirmed | AA+ | A1+ | Stable | ₹19,818 Cr | View |
| 09 Jul 2026 | CARE | Reaffirmed | AA+ | A1+ | Stable | ₹14,700 Cr | View |
| 01 Oct 2025 | CARE | Assigned | AA+ | A1+ | Stable | ₹14,700 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Healthy financial risk profile
TML has a strong financial profile characterised by healthy revenues, robust cash flow generation and a net cash-surplus position.
Credit challenges
− Exposure to cyclicality in the CV industry
CV players, including TML, remain exposed to cyclicality in the CV industry as industry sales volumes are strongly correlated to the level of economic activity, industrial growth and infrastructure investments.
Could lead to an upgrade
The long-term rating may be upgraded if the company is able to significantly grow and geographically diversify its revenues while strengthening its market share and profitability and maintaining comfortable debt protection metrics.
Could lead to a downgrade
The ratings may be downgraded in case of a material weakening in TML’s performance, with a continued impact on the company’s earnings or debt protection metrics. A specific credit metric that could cause a ratings downgrade includes an increase in total debt (including acceptances)/OPBDITA to above 1.5 times on a sustained basis. Weakening of linkages with Tata Sons will also be a negative rating factor. www.icra.in Sensitivity Label : Public Page |3
Agency-reported financials (ICRA, 29 Sep 2026)
| Metric | FY2025 | FY2026 | Q1FY2027 |
|---|---|---|---|
| Operating income (OI) | ₹58,541 Cr | ₹84,379 Cr | ₹20,667 Cr |
| PAT | ₹3,070 Cr | ₹2,861 Cr | ₹2,532 Cr |
| OPBDIT/OI | 11.1% | 12.5% | 10.3% |
| PAT/OI** | 5.2% | 3.4% | 12.3% |
| Total outside liabilities/Tangible net worth (times) | 3.40× | 3.10× | — |
| Total debt/OPBDIT (times) | 1.10× | 0.50× | — |
| Interest coverage (times) | 6.00× | 12.00× | 15.80× |
| Revenue growth (YoY) | — | 44.1% | — |
| EBITDA (margin × income) | ₹6,498 Cr | ₹10,547 Cr | ₹2,129 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹7,148 Cr | ₹5,274 Cr | — |
| Implied interest cost (EBITDA ÷ coverage) | ₹1,083 Cr | ₹879 Cr | ₹135 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term term loan facilities | Term loans | ₹1,000 Cr | ₹1,000 Cr | 0.0% | AA+ (Stable) | Reaffirmed | ICRA |
| Long-term fund-based facilities Non-convertible debenture | Debentures & bonds | ₹4,000 Cr | ₹4,000 Cr | 0.0% | AA+ (Stable) | Reaffirmed | ICRA |
| programme | Other | ₹1,100 Cr | ₹1,100 Cr | 0.0% | AA+ (Stable) | Reaffirmed | ICRA |
| Short-term debt programme | Working capital & bank lines | ₹1,000 Cr | ₹1,000 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
| Commercial paper programme | Commercial paper | ₹6,000 Cr | ₹6,000 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
| Non-fund based facilities | Non-fund based limits | ₹4,500 Cr | ₹4,500 Cr | 0.0% | AA+ / A1+ (Stable) | Other | ICRA |
| Unallocated limits | Other | — | ₹2,218 Cr | — | AA+ / A1+ (Stable) | Reaffirmed | ICRA |
CARE ratings on record (checked 21 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Commercial Paper (Standalone) | ₹6,000 Cr | CARE A1+ |
| Daylight Overdraft Credit Facility | ₹1,200 Cr | CARE A1+ |
| Non Convertible Debentures | ₹2,000 Cr | CARE AA+; Stable |
| Term loan | ₹1,000 Cr | CARE AA+; Stable / CARE A1+ |
| Working Capital Limits | ₹1,000 Cr | CARE A1+ |
| Working Capital Limits | ₹3,500 Cr | CARE AA+; Stable |
Lenders
| Fund-based - LT | Working Capital Limits | Proposed |
| Fund-based - LT/ ST | Term loan | Proposed |
| Fund-based - ST | Daylight Overdraft Credit Facility | Citibank N A |
| Non-fund-based - ST | Working Capital Limits | Proposed |
Credit assessment · Commercial vehicles
Rating Methodology – Commercial Vehicles (Sep 2026) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 80% |
| Information on file | 67% · missing: Annual results history (3+ years), 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: 78% chance the next rating action is stable or better
- Current rating AA+ (investment grade)
- Interest coverage 15.8×
- ₹2,218 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
The company had a net cash position of around Rs. 13,500 crore as on June 30, 2026 (including market value of TMF Holdings’ investments in Tata Capital Ltd.).
From the report
Iveco acquisition remains key monitorable FY26 performance reflects significant strengthening in profitability and cash generation, with revenue of ₹77,399 crore, EBITDA of ~₹10,200 crore, EBITDA margin of 13.2%, earnings before interest and taxation (EBIT) margin of 11.0%, profit before tax (PBT) before exceptional items of ₹8,682 crore, free cash flow of ₹9,186 crore and domestic-business net cash of ~₹7,500 crore.
From the report
Liquidity: Strong TML’s liquidity profile is strong, supported by healthy gross cash accruals in FY26, business cash and liquid investment stood ~₹10,332 crore as on March 31, 2026.
From the report
Rating sensitivities: Factors likely to lead to rating actions Positive factors: • Substantially improving profit before interest, lease rentals, depreciation and taxation (PBILDT) margin, supported by significantly improving its market share across business segments, leading to significant generation of free cashflows and net debt-free status on a sustained basis.
From the report
Liquidity: Strong TMLCV’s liquidity profile remains strong, supported by cash and liquid investments of ~₹4,455 crore as on June 30, 2025.
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 Motors
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Tata Motors Passenger Vehicles |
Gears, Steering, Brakes & Systems · Auto Components, Forging & Casting | tata.cars | 1945 | Mumbai, India |
 Mahindra and Mahindra |
Manufacturing · Automobile and Tractor Manufacturing | mahindra.com | 1945 | Mumbai, India |
 Maruti Suzuki India |
Passenger Cars · Automobile Manufacturers | marutisuzuki.com | 1981 | New Delhi, India |
 Hyundai Motor India |
Part of Hyundai Motor Company. | hyundai.com/in/en | — | Kanchee- -puram, India |
 Ashok Leyland |
Commercial Vehicles & Buses · Automobile Manufacturers | ashokleyland.com | 1948 | Chennai, India |
 Skoda Auto Volkswagen India |
Part of Volkswagen Group. | skoda-vw.co.in | 2007 | Pune, India |
 Force Motors |
Commercial Vehicles & Buses · Automobile Manufacturers | forcemotors.com | 1958 | Pune, India |
| V.s.t.motors Private Limited | Passenger Cars · Automobile Manufacturers | — | — | Chennai, Tamil Nadu, India |
| Jaika Automobiles Private Limited | Passenger Cars · Automobile Manufacturers | — | — | Nagpur, Maharashtra, India |
| Progressive Automobiles Private Limited | Passenger Cars · Automobile Manufacturers | — | — | Agartala, Tripura, 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
Passenger, electric and commercial vehicles
Filings
No filings on record yet.