Tata Motors Passenger Vehicles Ltd (TMPVL) for the fourth quarter ended March 31, 2026 reported 32% fall in consolidated Profit After Tax (PAT) at ₹5,783 crore as compared with ₹8,470 crore in the year ago period.

During the quarter the company delivered revenues of ₹105,447 crore, up 7.2% Year on Year (YoY). 

For the FY26 the company reported profit after tax of ₹82,390 crore as compared with ₹27,830 crore a year ago, up 196% YoY. FY26 revenues stood at ₹335.582 crore down 8.3% YoY. 

“On a full year basis, the profitability was impacted by several headwinds at Jaguar Land Rover (JLR), including cyber incident, tariffs, China luxury tax, VME pressures and adverse commodities prices,” the company said in a filing. 

The consolidated net debt stood at ₹30,700 crore, on account of adverse free cash flows primarily owing to production stoppages at JLR.

The Board has recommended a final dividend of ₹3 per share.

Looking ahead the company said global geopolitical and regulatory challenges would need to be monitored for supply-chain risks and cost headwinds.

“We will leverage on healthy demand and continue to deliver profitable and industry-beating growth in domestic business, whilst mitigating the margin headwinds through structural cost reductions. We will continue to step-up growth at JLR, by leveraging House of Brands in focused markets, with flawless delivery of exciting launches over next 18 months,” the company said.

Dhiman Gupta, chief financial officer, TMPVL said, “Overall, FY26 was a tale of two halves. While domestic business witnessed a strong momentum post GST 2.0, at JLR we witnessed several headwinds including tariffs and the cyber incident. In Q4 FY26, all the consolidated financial metrics improved significantly as JLR operations recovered post the cyber incident and domestic business continued its positive trajectory.”

“Going ahead, we will continue to build on our resilience through a slew of product interventions, and cost-side actions, while the global geopolitical environment and commodity prices continue to remain key monitorable,” he added.

JLR’s revenue for the quarter was £6.9 billion, down 11% versus Q4 FY25 and £22.9 billion for FY26, down 21% YoY.

Volumes and profitability were impacted YoY by the continued planned wind down of outgoing Jaguar models ahead of the new Jaguar launch, and the competitive environment the automotive industry is facing in China. Profitability was impacted by ongoing incremental U.S. tariffs, the company said.

PAT in the quarter was £365 million, compared to a profit of £640 million in the same quarter a year ago. For the full year, the loss after tax was £ 244 million compared to a profit of £1.8 billion last year.

PB Balaji, chief executive officer, said, “JLR faced a challenging year with revenue and profit impacted by multiple headwinds, including a pause in production following the cyber incident. We recovered well in the fourth quarter as production returned to normal levels, demonstrating the commitment of our people, suppliers and retail partners.”

“As we look ahead into FY27, we are focused on driving growth through our well differentiated House of Brands and reducing our break-even volumes, whilst we launch a slew of exciting products starting with the New Range Rover Electric, the unveiling of the first of our EMA products and the eagerly awaited new Jaguar,” he added.

On a stand alone basis the company reported Q4 revenue of ₹18,598 crore, up 43% YoY. Net profit was more than halved to ₹455 crore. The FY26 revenue was ₹58,500 crore.

Shailesh Chandra, managing director & CEO, TMPVL said, “FY26 has been a landmark year for the company marked by multiple defining milestones. We achieved our highest ever annual sales of over 6.4 lakh units, delivering industry beating growth of 15% YoY and emerging as the number second ranked player in H2 FY26.”

“In electric vehicles, we further reinforced our leadership position with a sustained focus on strengthening the overall value proposition of our vehicles and holistically addressing adoption barriers, accelerating the journey towards EVs becoming a mainstream choice for customers. This resulted in robust 43% year on year growth and our highest ever annual EV volumes of over 92,000,” he said. 

“Q4 FY26 was an outstanding quarter, in which we registered 37% year on year growth to record our highest ever quarterly sales of over 200,000 units. During the quarter, we delivered c.30,000 units of the Sierra and launched the new versions of the popular Punch and Punch.ev, to strong customer acclaim. This consistent growth has helped us drive sequential margin improvement throughout the year. Going ahead, we will continue to build on this strong momentum, deliver industry beating growth and enhance profitability through focused actions, while closely monitoring geopolitical developments to mitigate supply-side risks,” he added.