TATATECH
Tata Technologies share price & financials
- Price
- ₹758.05
- Market cap
- ₹28.9k Cr
- Sector
- Information Technology
- Calls analysed
- 8
Tata Technologies Limited Q1 FY27
What went well
- Total revenue increased by 5.9% QoQ in INR and 4.3% QoQ in constant currency to INR 1,665 crores, with YoY constant currency growth of 25.2%.
- Operating EBITDA margin expanded by 10 basis points sequentially to 16.1%, reaching INR 267 crores.
- Secured a significant $100 million strategic engagement with Tenneco, a 5-year deal expanding beyond traditional engineering services into business process transformation.
What to watch
- Temporary headwinds in parts of the Germany business due to customer restructuring and cost optimization initiatives.
- Upfront investments for large strategic engagements and full vehicle programs led to near-term margin dilution.
What Tata Technologies Limited does
Tata Technologies is a global product engineering and digital services company that helps automotive, aerospace and industrial heavy-machinery manufacturers design, develop and deliver products, from full-vehicle/full-product engineering to embedded software and PLM-led digital enterprise transformation. It earns primarily by deploying engineers on outsourced R&D and engineering-services programs for global OEMs and Tier-1 suppliers (its Services segment), supplemented by a smaller Technology Solutions business selling PLM software, education and digital-product offerings. It also runs Global Engineering Centres (GECs) that combine onshore client-facing teams with offshore delivery out of India and Romania, and has expanded into software-defined-vehicle engineering through the ES-Tec Group acquisition and a BMW TechWorks India joint venture.
Segments
- Services Segment
- Technology Solutions segment
- Global Engineering Centres (GECs) established since 1997
- 30+
- Vehicle programs delivered since inception
- 250+
- Global PLM implementation programs delivered
- 400+
- OEMs and Tier-1 suppliers served globally
- 77 OEMs and 39 Tier-1 suppliers
- Employee headcount (FTEs + contractors)
- 12,646
- Large accounts (LTM revenue >$10 million)
- 8 customers (3 above $50M, 5 in the $10-50M band)
Guidance record · Q1 FY27
what the last two calls moved 16 tracked 5 delivered 3 missed 8 open- BMW JV Headcount delivered said Q2 FY25 Promised: Achieve a 4-digit (1,000+) workforce in the BMW JV by the end of calendar year 2025. Q1 FY27: Promise remains achieved. The JV, now BMW TechWorks, has crossed 2,000 engineers, further exceeding the original target.
- FY26 Revenue Growth missed said Q1 FY26 Promised: Achieve double-digit revenue growth for FY26. Q1 FY27: Promise relates to FY26 and is complete. The verdict remains 'missed'.
- BMW JV Revenue on track said Q2 FY25 Promised: BMW JV to surpass $100 million revenue run rate within a few years. Q1 FY27: Headcount in the JV crossed 2,000 engineers, indicating strong operational scaling which supports the long-term revenue target. Promise remains on track.
All 16 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 33.8%, net profit up 6.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,296 | 1,317 | 1,286 | 1,244 | 1,323 +2% | 1,366 +4% | 1,572 +22% | 1,665 +34% |
| EBITDA | 236 | 234 | 233 | 200 | 208 −12% | 193 −18% | 252 +8% | 267 +34% |
| Net profit | 157 | 169 | 189 | 170 | 166 +6% | 7 −96% | 204 +8% | 181 +6% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +8.1% 1Y
1Y: ₹704.85 on 10 Sept 2025 → ₹762.15. High ₹879.15 (10 Aug 2026), low ₹509.2 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.0%
- 17 Jul
- Q4 FY26
- +1.7%
- 4 May
- Q3 FY26
- +0.6%
- 16 Jan
- Q2 FY26
- −1.0%
- 17 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 3.7% a year over 2 years, FY24 to FY26. Operating margin narrowed to 15.5%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹5.1k Cr | ₹5.2k Cr | ₹5.5k Cr |
| Operating profit | ₹941 Cr | ₹934 Cr | ₹853 Cr |
| Operating margin | 18.4% | 18.1% | 15.5% |
| Interest | ₹19 Cr | ₹21 Cr | ₹35 Cr |
| Depreciation | ₹106 Cr | ₹121 Cr | ₹145 Cr |
| Net profit | ₹679 Cr | ₹677 Cr | ₹547 Cr |
| Net margin | 13.3% | 13.1% | 9.9% |
| ROCE | 28.0% | 26.0% | 21.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹42 Cr | ₹42 Cr | ₹81 Cr | ₹81 Cr | ₹81 Cr | ₹81 Cr |
| Reserves | ₹2.1k Cr | ₹2.2k Cr | ₹2.9k Cr | ₹3.1k Cr | ₹3.5k Cr | ₹3.8k Cr |
| Borrowings | ₹266 Cr | ₹261 Cr | ₹255 Cr | ₹257 Cr | ₹247 Cr | ₹938 Cr |
| Other liabilities | ₹1.2k Cr | ₹1.7k Cr | ₹2.0k Cr | ₹2.1k Cr | ₹3.3k Cr | ₹4.0k Cr |
| Total liabilities | ₹3.6k Cr | ₹4.2k Cr | ₹5.2k Cr | ₹5.6k Cr | ₹7.2k Cr | ₹8.9k Cr |
| Fixed assets | ₹1.1k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.2k Cr | ₹2.1k Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹15 Cr |
| Investments | ₹497 Cr | ₹528 Cr | ₹30 Cr | ₹150 Cr | ₹565 Cr | ₹823 Cr |
| Other assets | ₹2.0k Cr | ₹2.6k Cr | ₹4.1k Cr | ₹4.3k Cr | ₹5.4k Cr | ₹6.0k Cr |
| Total assets | ₹3.6k Cr | ₹4.2k Cr | ₹5.2k Cr | ₹5.6k Cr | ₹7.2k Cr | ₹8.9k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −2.54 pp while FIIs added +1.43 pp. The shareholder count shrank 12% to 12,39,124.
- Promoters
- 55.2%
- FIIs
- 6.3%
- DIIs
- 4.5%
- Public
- 34.0%
Since Jun 2025
- Public −2.54 pp
- FIIs +1.43 pp
- DIIs +1.17 pp
How it drifted, 11 quarters
Over this window the public fell from 40.1% to 34.0% — −6.0 pp.
Ownership split by quarter, oldest first. Dec '23: Promoters 55.4%, FIIs 2.0%, DIIs 2.5%, Public 40.1%.Mar '24: Promoters 55.4%, FIIs 1.1%, DIIs 1.5%, Public 42.0%.Jun '24: Promoters 55.4%, FIIs 1.6%, DIIs 1.8%, Public 41.2%.Sep '24: Promoters 55.2%, FIIs 3.6%, DIIs 3.4%, Public 37.7%.Dec '24: Promoters 55.2%, FIIs 3.1%, DIIs 3.1%, Public 38.6%.Mar '25: Promoters 55.2%, FIIs 3.1%, DIIs 2.5%, Public 39.2%.Jun '25: Promoters 55.2%, FIIs 4.9%, DIIs 3.3%, Public 36.6%.Sep '25: Promoters 55.2%, FIIs 5.3%, DIIs 2.9%, Public 36.6%.Dec '25: Promoters 55.2%, FIIs 5.5%, DIIs 2.9%, Public 36.3%.Mar '26: Promoters 55.2%, FIIs 5.8%, DIIs 3.4%, Public 35.6%.Jun '26: Promoters 55.2%, FIIs 6.3%, DIIs 4.5%, Public 34.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund Mutual fund newly disclosed 1.51% held
- Tata Motors (Thailand) Limited (under Liquidation w.e.f. December 27, 2024) newly disclosed 0.00% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Tata Technologies Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Tata Motors Passenger Vehicles Limited (Formerly Tata Motors Limited) | 53.34% | unchanged |
| Tata Capital Limited | 1.84% | unchanged |
| Tata Enterprises Overseas Limited | 1.74% | unchanged |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund Mutual fund | 1.51% | newly disclosed |
| Life Insurance Corporation Of India Insurer | 1.35% | unchanged |
| Patrick Raymon Mcgoldrick | 1.13% | unchanged |
| TitanX Engine Cooling Inc. | 0.00% | unchanged |
| TitanX Engine Cooling Kunshan Co. Ltd. | 0.00% | unchanged |
| TitanX Engine Cooling SRL | 0.00% | unchanged |
| TitanX Holding AB | 0.00% | unchanged |
| TitanX Refrigeracão de Motores LTDA | 0.00% | unchanged |
| Changshu Tata AutoComp Systems Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in TATATECH
Filings to Aug 2026
0 new, 5 added, 1 trimmed, 0 sold out — net +0.05 L shares (+1.1%).
- Held by funds
- ₹36 Cr
- 6 schemes
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹23 Cr · 0.7% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹23 Cr | +0.03 L | Mar '26 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹12 Cr | +0.02 L | Mar '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹1 Cr | −0.00 L | Sep '24 |
| Nippon India Nifty 500 Low Volatility 50 Index Fund Nippon India Mutual Fund | ₹0 Cr | +0.00 L | Jun '25 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 1 trimmed — net +4,908 shares (+1.1%)
- Funds are sitting on
- +40%
- vs est. average cost
- Held by funds
- ₹36 Cr
- 6 schemes · ≈ 0.11% of the company
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹23 Cr · 0.7% of that fund
- Longest holder
- Nippon India Nifty 500 Equal Weight Index Fund
- 2y · since Sep '24
Shares held by these funds −81%
Nov '23 4.30 L shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹762, this stock must grow earnings at 35% every year for 7 years. Our analysis caps realistic growth at ~-16%. At that growth it is worth ₹54 — downside of 93%.
- Growth the price implies
- 34.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -15.6% a year
- net profit, FY24–FY26 · EPS -15.7%
- The gap
- 0.5 pp
- -93% downside if it only repeats history
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Tata Technologies Limited
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