Trent, TCPL, Tata Capital, Tata Motors PV shine in Q4; Tata Group firms that impressed the Street

Although a clearer trend will emerge once the remaining companies declare their earnings, the results so far have already highlighted distinct sectoral winners and losers.

The IT pack, for instance, has largely remained under pressure due to cautious management commentary and weak guidance, barring a few outliers such as Mphasis. On the other hand, FMCG companies have delivered a relatively stronger performance, aided by improving demand trends and resilient earnings.

Amid this, a look at the Tata Group shows that the conglomerate’s companies have delivered a mixed set of numbers. While Tata Consultancy Services and Tata Elxsi reported subdued earnings, companies such as Trent, Tata Consumer Products, and Tata Capital posted impressive results.

Trent Ltd

Tata Group retail firm Trent Ltd reported a 32.57% year-on-year increase in consolidated net profit to ₹413.1 crore for the March quarter of FY26 (Q4 FY26).

The company posted a consolidated net profit of ₹311.6 crore in the January-March quarter a year ago, according to a regulatory filing by Trent Ltd, which operates retail stores under the brand names Westside, Zudio, and Star.

Trent's consolidated revenue from operations was up 19.23% to ₹5,027.99 crore in the March quarter. It was ₹4,216.94 crore in the year-ago period.

The company's total expenses increased 16.7% in the March quarter to ₹4,520.95 crore in FY26.

The total consolidated income, which includes other income, was at ₹5,055.90 crore, up 17.8% in the March quarter.

Meanwhile, the board of Trent approved a bonus issue of 1 equity share for every 2 equity shares held and recommended a dividend of 600%, which is ₹6 per equity share of ₹1 each.

Commenting on the results, Chairman Noel N. Tata said, "In FY26, the business delivered encouraging performance while navigating multiple macroeconomic and geopolitical developments with resilience."

"We believe that the consumer sentiment will recover further in the coming months once the geopolitical environment settles down," Tata added.

Tata Technologies

Tata Technologies reported its earnings for the January-March quarter of the 2025-26 financial year, posting an 8.1% YoY surge in its consolidated net profit to ₹204.17 crore.

In the corresponding period of the previous fiscal year, the Tata Group firm had logged a profit of ₹188.87 crore, according to a regulatory filing.

Its revenue from operations advanced by 22.29% YoY to ₹1,572.22 crore during the quarter under review, compared to ₹1,285.65 crore in the fourth quarter of the 2024-25 fiscal year (Q4 FY25). Sequentially, the revenue surged 15.1% quarter-on-quarter (QoQ) from ₹1,365.73 crore.

Segment-wise, the company’s revenue from the service division jumped 19.1% YoY and 15% QoQ to ₹1,219.6 crore in Q4 FY26. Furthermore, its revenue from the technology solutions segment stood at ₹352.6 crore, up by 34.8% YoY and 15.4% QoQ.

It recorded an operating EBITDA (earnings before interest, tax, depreciation, and amortisation) of ₹252.1 crore for the reporting quarter, marking an 8% YoY increase from ₹233.4 crore in the March FY25 quarter. It was up 30.7% QoQ from ₹192.9 crore in the December quarter of FY26.

The company’s EBITDA margin stood at 16% in Q4 FY26, down from 18.2% in the year-ago period. However, it improved sequentially from 14.1% in Q3 FY26.

According to news reports, the company's earnings were above analysts' estimates.

Tata Teleservices (Maharashtra)

Tata Teleservices (Maharashtra), according to reports, posted a net profit of ₹580.9 crore, compared to a net loss of ₹306.4 crore last year. The profitability was aided by an exceptional gain of ₹662.8 crore.

Earnings before interest, tax, depreciation and amortisation (EBITDA) during the quarter grew by 7% year-on-year to ₹162.7 from ₹151.8 crore.

However, the company's revenue from operations for the quarter declined by 4% from the year-ago period to ₹295.5 crore.

Tata Consumer Products (TCPL)

Tata Consumer Products Ltd (TCPL) reported a 21.6% increase in its consolidated net profit to ₹424.02 crore in the March quarter of FY26 (Q4 FY26), led by volume growth from domestic business.

The company had posted a consolidated net profit of ₹348.72 crore in the January-March quarter a year ago, the Tata Group's FMCG arm said in a regulatory filing.

Revenue from operations rose by 18% to ₹5,433.62 crore in the March quarter of FY26. It was at ₹4,608.22 crore in the year-ago period.

Total expenses of TCPL in the March quarter were at ₹4,844.81 crore, up 15.9%.

Tata Consumer's total income, which includes other income, was at ₹5,486.18 crore, up 17.6%.

In the reporting quarter, TCPL's overall branded business went up 14.9% to ₹4,746 crore. It was at ₹4,130.4 crore in the corresponding quarter last fiscal year.

"Our India-branded business delivered robust underlying volume growth driven by strengthening distribution, portfolio expansion, and innovation," said Managing Director & CEO Sunil D'Souza.

"We delivered a strong finish to FY26 with another quarter of consistent double-digit topline growth. Performance was broad-based across our core and growth businesses, reflecting sustained momentum in execution, innovation, and brand building," said D'Souza.

Tata Capital

Tata Capital reported a 42.82% year-on-year (YoY) increase in its consolidated net profit (attributable to the owners of the company) to ₹1,502.02 crore in the January-March quarter of the 2025-26 financial year (Q4 FY26).

In the corresponding period last year, it had logged a profit of ₹1,051.70 crore, according to a regulatory filing.

Its net interest income (NII) advanced 28% YoY to ₹3,127 crore for the quarter under review, compared to ₹2,438 crore in the fourth quarter of the 2024-25 fiscal year (Q4 FY25).

The NBFC’s assets under management (AUM) climbed 28% YoY to ₹2.52 lakh crore in the March FY26 quarter, as against ₹1.97 lakh crore in the year-ago period.

Its annualised operating expense on average net loan book was stable at 2.3% during the reporting quarter in comparison with 2.3% in Q4 FY25.

Indian Hotels Company Ltd (IHCL)

Tata Group-owned Indian Hotels Company Ltd (IHCL) reported a 14.71% year-on-year (YoY) rise in its consolidated net profit for the fourth quarter ended March at ₹645.43 crore.

The country's largest hospitality player had a net profit of ₹562.66 crore a year ago, a regulatory filing showed. Its revenue from operations increased to ₹2,765.29 crore during the fourth quarter of FY 2025-26, from ₹2,425.14 crore in the same period of the preceding fiscal.

However, the company's total expenses also rose to ₹2,014.91 crore in the quarter under review from ₹1,764.26 crore in Q4FY25.

The Board of Directors of the company also recommended a dividend of ₹3.25 per share, subject to the approval of the members at the ensuing annual general meeting (AGM).

Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL, said, "IHCL Consolidated clocked a double-digit revenue growth this fiscal, reflective of a broad-based performance – led by RevPAR growth of 9% from same-store hotels, 16% in airline and institutional catering, 25% in new businesses and 22% in management fees."

Tata Motors Passenger Vehicles

Tata Motors Passenger Vehicles, the parent of luxury car maker Jaguar Land Rover (JLR), said on Thursday that it turned profitable in the January-March quarter as its performance significantly improved quarter-on-quarter (QoQ) on account of normalised JLR production and record domestic volumes, leading to healthy Q4 free cash flow (FCF) of ₹11,400 crore.

Tata Motors PV said that it earned a consolidated net profit of ₹5,783 crore in the fourth quarter of the financial year 2025-26, as against a loss of ₹3,486 crore in the previous quarter.

The Mumbai-based carmaker's revenue from operations jumped 50% to ₹1.05 lakh crore compared with ₹70,108 crore in the previous quarter.

The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA), also known as operating profit, jumped multi-fold to ₹11,259 crore, and its EBITDA margin improved by 9.6 percentage points to 10.7%.