Tata Motors Q2 FY27 Revenue Rises 36% to ₹25,338 Cr

Tata Motors Limited has posted the audio recording of its earnings conference call for the second quarter and first half ended September 30, 2026. The call, held on October 23 at 6:30 PM IST, covered the company’s Q2 FY27 financial performance, operating trends and product updates. Managing Director and CEO Girish Wagh and Chief Financial Officer GV Ramanan addressed investors and analysts. The company reported higher revenue, volume growth and a sharp improvement in free cash flow during the quarter. However, EBITDA margins were lower than the year-ago period on the standalone basis. The results were supported by sales volumes, operating efficiencies and cost management, according to the company’s reported call highlights.

Earnings Call Audio Available

The exchange filing on October 23 said Tata Motors had made the audio recording of the earnings call available through the company’s platform. The call related to the quarter and half year ended September 30, 2026. It was also available as a live webcast, with a text box for questions and answers. The recording allows investors to review management commentary alongside the Q2 FY27 investor presentation. The company’s filing was made under Regulation 30 of the Listing Obligations and Disclosure Requirements regulations. Tata Motors also released its investor presentation on the same date.

Consolidated Revenue Increased 36%

Consolidated revenue for Q2 FY27 was reported at ₹25,338 crore, compared with ₹18,585 crore in Q2 FY26. That represents year-on-year growth of 36%. Call highlights rounded consolidated revenue to ₹25,300 crore. The increase reflected stronger volumes across the business. Tata Motors reported consolidated EBITDA of ₹2,770 crore for the quarter, compared with ₹2,113 crore a year earlier. Consolidated EBITDA increased 31% year-on-year and the EBITDA margin was 10.9%.

Standalone Business Recorded Higher Sales

Standalone revenue was ₹23,900 crore in Q2 FY27, up 42% year-on-year, according to the earnings call. Another reported result figure placed standalone revenue from operations at ₹23,930 crore, against ₹16,861 crore in the comparable quarter. Standalone EBITDA was about ₹2,800 crore, up 31% year-on-year. The standalone EBITDA margin was 11.7%. This was 90 basis points lower than the corresponding period of FY26. Management linked the revenue growth to volume momentum, while the reported margin movement reflected cost pressures, including commodities.

Profit Returned to Positive Territory

Tata Motors reported consolidated profit after tax of ₹1,253 crore in Q2 FY27, against a loss of ₹867 crore in Q2 FY26. Other reported figures placed the quarterly consolidated profit at ₹1,257 crore. The company’s standalone net profit was ₹2,138 crore, compared with a loss of ₹1,021 crore in the year-ago quarter. Profit before tax before exceptional items stood at ₹2,700 crore, up 51% year-on-year, according to the call. The shift from loss to profit followed higher revenue and improved operating performance. These figures marked a material improvement in the company’s quarterly financial position compared with Q2 FY26.

Wholesales and Market Share Improved

Q2 wholesales were 135,100 units, up 42% from a year earlier and 24% sequentially. Tata Motors said its overall first-half market share was 36.2%. This was 110 basis points higher than the FY26 level. The company linked the improvement to its market position across relevant commercial vehicle categories. Volume growth was a key contributor to the rise in standalone revenue. The quarterly performance also included export momentum, as referenced in management’s operational commentary.

Free Cash Flow More Than Doubled

Free cash flow for Q2 FY27 was ₹4,600 crore, compared with ₹2,210 crore in Q2 FY26. For the first half, free cash flow was ₹5,721 crore. The improvement in cash generation accompanied the rise in operating profit and sales volumes. Free cash flow is important for investors because it reflects cash available after operating and capital expenditure requirements. The reported quarterly number was more than double the year-ago level. Tata Motors did not provide further numerical guidance in the supplied call material.

Product Updates During the Quarter

Tata Motors used the call to highlight product activity during the period. At Prawaas 5.0, it unveiled its next-generation passenger mobility offering, including the Ultra Prime and Starbus Prime range. The company also displayed its next-generation aggregates portfolio at bauma CONEXPO INDIA 2026. Tata Motors said it was named Best Truck of the Year at the Logistics and Transport Award 2026 in the UAE. Management connected this recognition with a strong quarter for exports. These updates show that the company continued product and market-development activity alongside financial execution.

Key Q2 FY27 Figures

What the Results Mean for Investors

The Q2 FY27 update shows that Tata Motors combined higher volumes with revenue expansion and improved cash generation. Consolidated revenue growth of 36% outpaced the 31% increase in EBITDA, which kept attention on margins. The 11.7% standalone EBITDA margin was 90 basis points below the year-ago period, while the consolidated margin was reported at 10.9%. Commodity costs were identified among the near-term factors affecting investor attention in coverage of the results. At the same time, the company’s return to consolidated profitability and higher free cash flow were important changes from Q2 FY26. Investors can use the published call audio and investor presentation to track management’s discussion of volume, cost and product developments through the remainder of FY27.

Outlook Based on Disclosed Information

Tata Motors has completed its Q2 FY27 results call and published the related audio recording. The disclosed material covers results through September 30, 2026, rather than providing additional numerical forecasts. The company’s next formal financial update will be its subsequent quarterly results and related exchange disclosures. Until then, the reported indicators to monitor include sales volumes, market share, commodity-cost effects, EBITDA margins and free cash flow. The Q2 outcome establishes a higher revenue and profit base compared with the corresponding quarter last year.