Tata Motors Q1 revenue rises 19 per cent to Rs 20,667 crore

MUMBAI: Tata Motors has put its foot on the accelerator, with commercial vehicles driving a stronger first quarter as consolidated revenue climbed 19 per cent year-on-year to Rs 20,667 crore in Q1 FY27. The performance was backed by higher vehicle volumes, rising electric commercial vehicle demand and a sharp improvement in cash generation, even as margins came under pressure.

Consolidated EBITDA rose 10 per cent to Rs 2,300 crore, while the EBITDA margin narrowed to 10.9 per cent from 11.8 per cent in Q1 FY26, a decline of 90 basis points.

Profit growth was considerably stronger. Consolidated PBT before exceptional items rose 81 per cent to Rs 3,049 crore from Rs 1,684 crore a year earlier, while profit after tax jumped 83 per cent to Rs 2,600 crore. Tata Motors attributed the increase in consolidated profit to a mark-to-market gain on investments in Tata Capital Ltd.

The commercial vehicle business remained the main engine of the quarter. Total CV wholesales rose 26 per cent year-on-year to 108.7K units, with domestic volumes also increasing 26 per cent and exports climbing 35 per cent.

The stronger volumes also translated into a higher domestic CV VAHAN market share, which stood at 36.8 per cent in Q1 FY27, up 100 basis points sequentially.

Electric commercial vehicles added another charge to the quarter. Tata Motors received more than 3,400 EV orders across segments, while its electric small commercial vehicle business recorded its strongest-ever performance.

EV salience in the eSCV segment reached around 10 per cent during May and June, while Tata Motors reported approximately 47 per cent market share in the segment for Q1 FY27.

Girish Wagh, MD & CEO, Tata Motors Ltd., said the commercial vehicle industry remained resilient during the quarter, supported by demand across key sectors and fleet utilisation.

“Tata Motors delivered a strong quarter, with volumes growing 26 per cent year-on-year,” Wagh said, pointing to the company’s portfolio, market interventions and execution as key factors behind the performance.

He also highlighted the company’s growing EV order pipeline, saying its “ecosystem-led approach to electrification continued to gain momentum”. The eSCV segment’s approximately 10 per cent EV salience in May and June and 47 per cent Q1 market share were among the indicators cited by the company.

The balance sheet also moved into a healthier gear. Consolidated free cash flow stood at Rs 359 crore in Q1 FY27, compared with negative Rs 1,954 crore in Q1 FY26. Tata Motors was net cash positive at Rs 13,500 crore as of 30 June 2026.

The company also expanded its commercial vehicle line-up during the quarter with the launch of the Ace Gold+ XL, Intra V40 and Intra EV, covering ICE, CNG and electric powertrains.

With volumes rising across domestic and export markets, a stronger CV market position and EV orders gaining momentum, Tata Motors’ first-quarter performance shows a business shifting up a gear on both volume and electrification, even as profitability continues to navigate margin pressure.