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Tata Motors Passenger Vehicles
(TMPV)
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Rating:64Neutral
Price Target:
₹335.00
▼(-2.67% Downside)
Action:Reiterated
Date:06/18/26
The score is driven by improved multi-year profitability and materially better leverage, supported by a very low P/E valuation. Offsetting these positives are weaker latest-year fundamentals (sharp revenue decline, near-breakeven EBIT margin) and deteriorating cash generation with negative free cash flow, alongside mixed-to-soft technical signals.
Positive Factors
Multi-year return to profitability
The shift from losses to sustained positive net margins indicates that the business has improved its earnings base over several years. This provides a stronger foundation for funding operations and investment, although the latest operating deterioration limits confidence in near-term durability.
Negative Factors
Sharp revenue contraction
A major revenue contraction weakens scale benefits across manufacturing, distribution, and after-sales operations. If sustained, lower volumes can reduce supplier leverage, dilute fixed-cost absorption, and make it harder for the company to maintain margins while funding vehicle development.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year return to profitability
The shift from losses to sustained positive net margins indicates that the business has improved its earnings base over several years. This provides a stronger foundation for funding operations and investment, although the latest operating deterioration limits confidence in near-term durability.
Read all positive factors
Tata Motors Passenger Vehicles (TMPV) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.17T
Dividend Yield0.96%
Average Volume (3M)1.16M
Price to Earnings (P/E)1.5
Beta (1Y)1.35
Revenue Growth-21.70%
EPS Growth267.29%
CountryIN
Employees60,332
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)223.76
Shares Outstanding3,682,891,600
10 Day Avg. Volume1,553,168
30 Day Avg. Volume1,162,158
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.97
Price to Sales (P/S)0.33
P/FCF Ratio-4.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹301.67Price Target Upside-12.36% Downside
Rating ConsensusStrong Sell
Number of Analyst Covering3
EPS Forecast (FY)28.09
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 new passenger vehicles to customers through its dealership network, generating revenue from the invoice price of vehicles sold (including sales of ICE vehicles and EVs). Beyond initial vehicle sales, it earns ...
Tata Motors Passenger Vehicles Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
68
Positive
Cash Flow
45
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.33T | 4.40T | 4.34T | 3.46T | 2.78T |
| Gross Profit | 1.19T | 1.99T | 1.88T | 1.38T | 1.13T |
| EBITDA | 214.57B | 466.39B | 468.25B | 217.59B | 132.67B |
| Net Income | 823.90B | 278.30B | 313.99B | 24.14B | -114.41B |
Balance Sheet | |||||
| Total Assets | 3.82T | 3.79T | 3.71T | 3.36T | 3.31T |
| Cash, Cash Equivalents and Short-Term Investments | 478.28B | 615.48B | 599.29B | 513.76B | 634.45B |
| Total Debt | 813.95B | 715.40B | 1.10T | 1.37T | 1.48T |
| Total Liabilities | 2.63T | 2.56T | 2.78T | 2.83T | 2.82T |
| Stockholders Equity | 1.12T | 1.16T | 849.18B | 453.22B | 445.61B |
Cash Flow | |||||
| Free Cash Flow | -232.41B | 250.60B | 365.02B | 172.92B | -8.86B |
| Operating Cash Flow | 130.41B | 631.02B | 679.15B | 353.88B | 142.83B |
| Investing Cash Flow | -248.10B | -475.94B | -228.28B | -168.04B | -47.75B |
| Financing Cash Flow | -13.44B | -187.86B | -370.06B | -262.43B | -33.80B |
Tata Motors Passenger Vehicles Technical Analysis
Negative
344.20
Price Trends
341.22
Negative
347.55
Negative
352.20
Negative
Market Momentum
-5.95
Positive
31.49
Neutral
3.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TMPV, the sentiment is Negative. The current price of 344.2 is above the 20-day moving average (MA) of 335.10, above the 50-day MA of 341.22, and below the 200-day MA of 352.20, indicating a bearish trend. The MACD of -5.95 indicates Positive momentum. The RSI at 31.49 is Neutral, neither overbought nor oversold. The STOCH value of 3.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TMPV.
Tata Motors Passenger Vehicles Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹4.27T | 29.87 | ― | 1.00% | 26.61% | -1.37% | |
69 Neutral | ₹1.80T | 36.22 | ― | 1.07% | 3.55% | -10.31% | |
64 Neutral | ₹1.17T | 1.46 | ― | 1.00% | -21.70% | 267.29% | |
63 Neutral | ₹4.25T | 20.65 | ― | 2.97% | 25.93% | 34.37% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:TMPV
Tata Motors Passenger Vehicles
314.00
-24.18
-7.15%
IN:HYUNDAI
Hyundai Motor India Limited
2,226.40
-241.28
-9.78%
IN:M&M
Mahindra & Mahindra Ltd.
3,438.55
142.29
4.32%
IN:MARUTI
Maruti Suzuki India Limited
13,650.00
-914.16
-6.28%
Tata Motors Passenger Vehicles Corporate Events
Tata Motors Passenger Vehicles to Hike Car and SUV Prices from September 2026
Aug 21, 2026
Tata Motors Passenger Vehicles Ltd. will increase prices across its portfolio of cars and SUVs, covering both internal combustion engine and electric models, by up to Rs 25,000 from 1 September 2026. The company says price hikes will vary by model...
Tata Motors Passenger Vehicles posts Investor Day recordings for market access
Jun 23, 2026
Tata Motors Passenger Vehicles Limited has notified stock exchanges that the audio and video recordings of its Investor Day held on June 23, 2026, are now available on the company’s website. By making these materials publicly accessible, the...
Tata Motors Passenger Vehicles outlines TDS rules on proposed FY26 dividend
Jun 9, 2026
Tata Motors Passenger Vehicles has notified shareholders and stock exchanges that its board has recommended a final dividend of ₹3 per fully paid equity share of face value ₹2 for the financial year ended 31 March 2026, subject to appr...
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...
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.