TMCV

Tata Motors delivered outstanding Q3 FY2026 results with revenue growing 17% YoY to ₹21,533 crores and wholesale volumes reaching 116.8K units (up 20% YoY). The company achieved its 10th consecutive quarter of double-digit EBITDA margins and recorded its first-ever double-digit EBIT margin of 10.6%. All product segments registered growth with HCV at 23%, ILMCV at 26%, SCV at 15%, and CV passenger at 4%. Strong cash generation of ₹4,800 crores in Q3 contributed to a robust net cash position of ₹3,900 crores.

The company launched 17 new next-generation trucks including 5 electric vehicles, covering the entire range from 7-ton to 55-ton vehicles. The new Azura series addresses the ILMCV segment from 7-19 tons with state-of-the-art features. Market share recovered 100 bps from Q2 to Q3, primarily driven by strong performance in heavy commercial vehicles and tippers. The launches include European safety standard R29 03 compliant cabins and improved payload/fuel efficiency features.

The company showcased significant progress in electrification with the launch of electric trucks using Intelligent Modular Electric Vehicle architecture. In the bus segment, Tata Motors won tenders totaling 6,000 units for delivery over the next 10-12 months, while maintaining a disciplined approach to electric bus tenders focusing on payment security, asset-light models, and financial prudence. The company increased bus bodybuilding capacity by 15% through debottlenecking initiatives.

International business delivered exceptional 70% YoY growth, driven by recovery in Sri Lanka and expansion in Middle East and North Africa markets. The company's Fleet Edge digital platform doubled subscription renewals through new Lite and Prime subscription plans, becoming the most attractive value proposition in the logistics industry. Parts and services business maintained healthy double-digit growth while Smart City operations covered 50 crore kilometers with 95% uptime.