Tata Motors Passenger Vehicles Ltd (IN:TMPV)
:TMPV
Want to see IN:TMPV full AI Analyst Report?
Top Page
Tata Motors Passenger Vehicles
(TMPV)
Select Model
Select Model
Rating:58Neutral
Price Target:
₹414.00
▲(20.28% Upside)
Action:Reiterated
Date:05/21/26
The score is driven primarily by mixed financial performance: improved leverage and the broader profitability turnaround are offset by the latest year’s revenue drop, near-breakeven operating margin, and negative free cash flow. Technicals are modestly positive in the short-to-medium term but still below the 200-day trend, while valuation is supported by the dividend yield but clouded by a negative P/E.
Positive Factors
Profitability turnaround
TMPV’s multi-year move from losses to sustained positive net margins demonstrates a structural recovery in core operations. This improves resilience to cyclical downturns, supports reinvestment in product development and EV transition, and reduces the risk of equity dilution or emergency financing over the medium term.
Negative Factors
Revenue decline & weak operating margin
A steep revenue drop combined with near-breakeven EBIT indicates weakened demand or pricing/volume mix pressures and diminished operating leverage. Sustained top-line weakness can erode fixed-cost absorption, constrain margin recovery, and limit the firm’s ability to fund strategic investments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability turnaround
TMPV’s multi-year move from losses to sustained positive net margins demonstrates a structural recovery in core operations. This improves resilience to cyclical downturns, supports reinvestment in product development and EV transition, and reduces the risk of equity dilution or emergency financing over the medium term.
Read all positive factors
Tata Motors Passenger Vehicles (TMPV) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.38T
Dividend Yield1%
Average Volume (3M)1.16M
Price to Earnings (P/E)1.7
Beta (1Y)1.43
Revenue Growth-20.40%
EPS Growth264.59%
CountryIN
Employees86,259
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)30.98
Shares Outstanding3,682,435,500
10 Day Avg. Volume1,553,168
30 Day Avg. Volume1,162,158
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)1.00
Price to Sales (P/S)0.33
P/FCF Ratio-4.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹300.00Price Target Upside-12.84% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)37.55
Revenue Forecast (FY)₹4.04T
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 passeng...
How the Company Makes Money
TMPV primarily makes money by selling passenger vehicles to customers through Tata Motors’ distribution channels (dealers and other sales routes). Revenue is recognized from the sale of vehicles (including variants, trims, and factory-fitted optio...
Tata Motors Passenger Vehicles Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
68
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.09T | 3.33T | 4.40T | 4.34T | 3.46T | 2.78T |
| Gross Profit | 1.74T | 1.19T | 1.99T | 1.88T | 1.38T | 1.13T |
| EBITDA | 376.11B | 214.57B | 466.39B | 468.25B | 217.59B | 132.67B |
| Net Income | 940.15B | 823.90B | 278.30B | 313.99B | 24.14B | -114.41B |
Balance Sheet | ||||||
| Total Assets | 3.44T | 3.82T | 3.79T | 3.71T | 3.36T | 3.31T |
| Cash, Cash Equivalents and Short-Term Investments | 579.33B | 595.34B | 615.48B | 599.29B | 513.76B | 634.45B |
| Total Debt | 672.58B | 791.09B | 715.40B | 1.10T | 1.37T | 1.48T |
| Total Liabilities | 2.27T | 2.63T | 2.56T | 2.78T | 2.83T | 2.82T |
| Stockholders Equity | 1.11T | 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
Neutral
344.20
Price Trends
355.08
Positive
354.18
Positive
372.95
Positive
Market Momentum
9.37
Positive
51.31
Neutral
18.60
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TMPV, the sentiment is Neutral. The current price of 344.2 is below the 20-day moving average (MA) of 377.62, below the 50-day MA of 355.08, and below the 200-day MA of 372.95, indicating a neutral trend. The MACD of 9.37 indicates Positive momentum. The RSI at 51.31 is Neutral, neither overbought nor oversold. The STOCH value of 18.60 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:TMPV.
Tata Motors Passenger Vehicles Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹4.12T | 28.63 | ― | 0.81% | 19.88% | 1.24% | |
62 Neutral | ₹3.73T | 4.82 | ― | 3.05% | 24.55% | 32.09% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ₹1.58T | 29.78 | ― | 0.91% | 2.50% | -3.70% | |
58 Neutral | ₹1.38T | 1.74 | ― | 1.00% | -20.40% | 264.59% |
* Consumer Cyclical Sector Average
IN:TMPV
Tata Motors Passenger Vehicles
389.40
-40.48
-9.42%
IN:HYUNDAI
Hyundai Motor India Limited
1,989.85
67.92
3.53%
IN:M&M
Mahindra & Mahindra Ltd.
3,043.35
61.31
2.06%
IN:MARUTI
Maruti Suzuki India Limited
13,371.25
1,092.42
8.90%
Tata Motors Passenger Vehicles Corporate Events
Tata Motors Passenger Vehicles Posts 42% Sales Surge in May as EV Volumes Hit Record
Jun 1, 2026
Tata Motors Passenger Vehicles Ltd. reported total sales of 59,790 units in May 2026 across domestic and international markets, up 42% from 42,040 units a year earlier, with domestic passenger vehicle volumes rising 42% and international business ...
Tata Motors Passenger Vehicles to Join BofA India Conference Fireside Chat
May 28, 2026
Tata Motors Passenger Vehicles Limited has informed stock exchanges that it will participate in a fireside chat session at the 2026 BofA India Conference on June 2, 2026, from 10:00 a.m. to 11:00 a.m. IST. The company notes that the schedule is su...
Tata Motors Passenger Vehicles posts 31% sales growth in April 2026 on surging EV demand
May 1, 2026
Tata Motors Passenger Vehicles Ltd. reported total sales of 59,701 units in April 2026 across domestic and international markets, up from 45,532 units a year earlier, reflecting a 31.1% year-on-year growth. Domestic passenger vehicle sales rose 30...
Tata Motors Passenger Vehicles Announces Board Change as Independent Director Retires
Mar 8, 2026
Tata Motors Passenger Vehicles Limited has announced that Om Prakash Bhatt will cease to serve as a non-executive independent director with effect from March 8, 2026, following completion of his second consecutive term. The change is in line with ...
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.