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Tata Motors Passenger Vehicles Q3 Results 2026 LIVE: Tata Motors Passenger Vehicles (TMPV) will report its earnings for the third quarter of the financial year 2025-26 (FY26) today, February 5.

“We wish to inform you that a Meeting of the Board of Directors of Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) is scheduled to be held on Thursday, February 5, 2026, inter alia, to consider and approve the Audited Standalone Financial Results and Unaudited Consolidated Financial Results (with Limited Review) for the third quarter and nine months ended December 31, 2025,” the company said in an exchange filing last month.

Ahead of the Q3 results announcement, Tata Motors Passenger Vehicles' stock was trading with a 3% cut as expectations remain that the company will likely post a loss for the December quarter despite strong sales growth.

Domestic brokerages expect sales to grow 22% year-on-year, driven by festive buying and the wedding season, although bottomline will be impacted. The Q3 loss for Tata Motors is seen in the range of ₹900 to ₹3200 crore.

Kotak Institutional Equities (KIE) expects domestic PV business revenues to increase by 33% YoY in Q3 FY26, led by (1) 22% YoY increase in volumes and (2) 9-10% YoY increase in ASPs driven by a richer product mix.

“Overall, we expect EBITDA margin to increase by 140 bps qoq, driven by (1) operating leverage benefits and (2) favourable net pricing,” it said.

After the cyber incident in Q2, Motilal Oswal expects Jaguar Land Rover (JLR) to post a steady recovery in volumes. Given this, it expects JLR’s margins to improve to 5.4%, from -1.6% QoQ.

Watch this space for LIVE updates on Tata Motors Passenger Vehicles Q3 results

The performance continued to be impacted significantly by the cyber incident at JLR, as indicated earlier. The domestic performance improved QoQ on account of higher volumes and incentives, the company said.

TMPVL delivered revenues of ₹69,605 crore, down 25.8% YoY and EBIT of ₹(3300) crore as against ₹11,000 crore in the same period last year.

Tata Motors on Thursday announced a ₹3,486 crore consolidated loss for the quarter ended December 2025 as against a profit of ₹5,406 crore impacted by expenses arising out of cyber hit at JLR, and changes in Labour code.

Shares of Tata Motors PV ended the day marginally lower by 0.33% at ₹374.15 apiece on the BSE today. The stock had fallen as much as 3% during intraday deals.

Consolidated revenue is likely to plunge 27% YoY owing to production hit at JLR due to cyber attack incident despite robust growth in the India PV division.

Nuvama recently upgraded TMPV to ‘BUY’ (TP: ₹430) from ‘REDUCE’ supported by reasonable valuations (4x/3x FY27E/28E EV/EBITDA) following a ~8% correction since its recent listing, and expectations of robust prospects for JLR and India PV in FY27E/28E.

Tata Motors PV share price rebounded from day's low ahead of the Q3 results announcement today. The stock had declined almost 3% in intraday deals. As of 2.35 pm, Tata Motors PV share price was trading at ₹373.50, down 0.5%.

Overall, KIE expects EBITDA margin to increase by 140 bps QoQ, driven by (1) operating leverage benefits and (2) favorable net pricing.

KIE expects reported EBITDA margin to decline by 15.3% yoy to negative 1.1%, driven by (1) negative operating leverage, (2) higher tariffs pertaining to US sales and (3) adverse FX (GBP appreciation versus USD), partly offset by a richer product mix. Overall, we expect JLR EBIT margin to come in at (-)9% in 3QFY26 (-40 bps qoq).

After the cyber incident in 2Q, we expect JLR to post a steady recovery in volumes (+18% QoQ). Given this, we expect JLR’s margins to improve to 5.4%, from -1.6% QoQ, said MOSL.

JLR volumes (excluding China JV) declined by 43% YoY led by weakness in China markets and production-related challenges due to the cyberattack in October. Overall, KIE expects revenues (ex-China JV) to decline by 41% YoY in 3QFY26, driven by decline in volumes. We expect ASP to increase by 3% YoY, driven by a richer model mix, partly offset by higher discounts.

India PV volumes grew 22% YoY, fueled by the strong festive and marriage season demand. Led by operating leverage benefits, we expect the India margin to improve 160bp QoQ to 7.3%, said Motial Oswal Financial Services.

Kotak Institutional Equities (KIE) expects domestic PV business revenues to increase by 33% YoY in 3QFY26, led by (1) 22% YoY increase in volumes and (2) 9-10% YoY increase in ASPs driven by a richer product mix.

Following the demerger of Tata Motors and Tata Motors Passenger Vehicles, analysts said there is unavailability of historical data. As a result, most brokerages have given their absolute profit/sales expectations without comparing it with past trends.

Tata Motors PV share price declined nearly 3% to ₹364.25 on the BSE ahead of the Q3 results today. Analysts expect Tata Motors PV to post steady growth in sales but bottomline could take a hit.

Tata Motors Passenger Vehicles will announce its Q3 results later today.

“We wish to inform you that a Meeting of the Board of Directors of Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) is scheduled to be held on Thursday, February 5, 2026, inter alia, to consider and approve the Audited Standalone Financial Results and Unaudited Consolidated Financial Results (with Limited Review) for the third quarter and nine months ended December 31, 2025,” the company said in an exchange filing last month.

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