Tata Motors PV shares jump over 8% after automaker turns in ₹5,783 crore PAT in Q4 results; margin risk ahead?

Shares of Tata Motors PV surged 8.3% to hit its intraday high of ₹366.95 on Friday, compared to ₹338.75 at the previous market close, according to NSE data.

The consolidated financial statements showed that Tata Motors PV’s net profit after tax (PAT) was at ₹5,783 crore in the fourth quarter, compared quarter-on-quarter against a net loss of ₹3,486 crore in the third quarter of the year ended 2025-26.

The automaker turning in profits was primarily driven by the strong rise in core revenues to the tune of 50% to ₹1.05 lakh crore, compared to ₹70,108 crore in the third quarter of the fiscal year.

The data further showed that Tata Motors PV’s earnings before interest, tax, depreciation and amortisation (EBITDA) margin advanced by 960 basis points to 10.7%, compared to its previous levels, while the operational level EBITDA was at ₹11,259 crore after a multifold jump.

As of 10:38 pm, Tata Motors PV shares were trading 4.97% higher at ₹355.55 on Friday, compared to ₹338.75 at the previous market close, according to NSE data. As the company carried out a demerger in October 2025, the year-on-year numbers can not be taken into account.

How did JLR perform?

Tata Motors PV luxury car arm, Jaguar Land Rover (JLR), recorded a 59% hike in revenue from operations to ₹85,625 crore in the March quarter, compared sequentially with ₹53,849 crore in the same period a year ago.

The luxury car brand’s net profits were at ₹7,387 crore in the March quarter, compared against a net loss of ₹3,344 crore in the third quarter of the fiscal year ended 2025-26.

"JLR remains resilient and well placed to address the geopolitical, inflationary and regulatory challenges the industry faces," the company said in its investors presentation released on Thursday evening.

With 18 billion pounds of investment planned for the five year period which started from the fiscal year ended 2024, the company said that it will share the upcoming guidance for the financial year ending 2026-27 on June 17, 2026.

What analysts say

Experts from the global investment giant, Citigroup, said that Tata Motors PV Q4 results exceeded their expectations with the healthy demand from India’s passenger vehicle business, but concerns remain on Jaguar Land Rover’s (JLR) margins.

“Q4 Results above estimates, but JLR margins face headwinds,” said the analysts at Citigroup. “Not certain on the sustainability of margins for JLR, where hedging gains were the key driver of EBITDA beat,” they said.

Australian investment firm, Macquarie Group, analysts also said that the company’s margin increase across both businesses in Q4 results was a positive surprise on the backdrop of the upbeat domestic growth for Tata Motors PV. However, the analysts also flagged the risk to margins ahead.

Tata Motors PV share price trend

Tata Motors PV shares have delivered over 13% returns in the last five years, and are down 33% in the last three years. The stock lost 51% in the last one year period, and is down 3.2% so far in 2026.

The company carried out a demerger last year in October 2025, splitting the company into a passenger vehicle arm and a commercial vehicle business.

Over the past one month, the shares of the automaker are down 0.63%, and trading flat over the last five market sessions, according to NSE data. The company’s market capitalisation (M-Cap) was at over ₹1.31 lakh crore as of Friday’s trading session.