TMPV

TATA MOTORS PASSENGER VEHICLES LTD

Financial statements & historical fundamentals analysis

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Borrowings	+78,604	+88,950	+106,175	+124,788	+142,131	+146,449	+134,113	+107,264	+71,540	+79,109
Capital Work in Progress	+33,699	+40,034	+31,884	+35,622	+20,964	+10,251	+14,275	+35,698	+65,806	+102,654
Debtor Days	+19	+25	+23	+16	+19	+16	+17	+14	+13	+14
Debtors	+14,076	+19,893	+18,996	+11,173	+12,679	+12,442	+15,738	+16,952	+13,248	+12,619
Equity Share Capital	+679	+679	+679	+720	+766	+766	+766	+767	+736	+737
Inventory	+35,085	+42,138	+39,014	+37,457	+36,089	+35,240	+40,755	+47,788	+47,269	+50,126
Inventory Turnover	+8	+7	+8	+7	+7	+8	+8	+9	+8	+7
Investments	+20,338	+20,813	+15,771	+16,308	+24,620	+29,380	+26,379	+22,971	+35,656	+26,313
Net Block	+95,944	+121,414	+111,234	+127,107	+138,708	+138,855	+132,080	+121,285	+115,697	+104,656
Other Assets	+122,600	+144,932	+146,814	+141,141	+157,278	+150,575	+161,941	+189,567	+159,814	+145,566
Other Liabilities	+135,914	+142,813	+139,349	+132,313	+144,193	+138,051	+155,239	+177,339	+189,289	+188,012
Reserves	+57,383	+94,749	+59,500	+62,359	+54,481	+43,795	+44,556	+84,151	+115,408	+111,331
Return on Capital Emp	—	+0	0	0	0	+0	+0	+0	+0	+0
Return on Equity	+0	+0	0	0	0	0	+0	+0	+0	+1
Total	+272,580	+327,192	+305,703	+320,179	+341,570	+329,061	+334,674	+369,521	+376,973	+379,189
Working Capital	-13,315	+2,118	+7,466	+8,828	+13,085	+12,524	+6,702	+12,228	-29,475	-42,446

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Financing Activity	+6,205	+2,012	+8,830	+3,390	+9,904	-3,380	-26,243	-37,006	-18,786	-1,344
Cash from Investing Activity	-39,571	-25,139	-20,878	-33,115	-25,673	-4,444	-15,417	-22,781	-49,982	-23,166
Cash from Operating Activity	+30,199	+23,857	+18,891	+26,633	+29,001	+14,283	+35,388	+67,915	+63,102	+13,041
Net Cash Flow	-3,167	+730	+6,843	-3,092	+13,232	+6,459	-6,272	+8,128	-5,666	-11,469

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Depreciation	+17,905	+21,554	+23,591	+21,425	+23,547	+24,836	+24,860	+27,239	+21,102	+19,784	+19,812
Dividend Payout	0	0	0	0	0	0	+0	+0	+0	+0	—
EPS	+26	+31	-100	-39	-41	-34	+7	+94	+76	+224	+215
Expenses	+240,104	+260,093	+277,274	+243,081	+217,507	+253,734	+314,151	+376,207	+318,101	+316,863	+326,793
Interest	+4,238	+4,682	+5,759	+7,243	+8,097	+9,312	+10,225	+7,594	+3,901	+2,827	+2,970
Net profit	+7,454	+8,989	-28,826	-12,071	-13,451	-11,441	+2,414	+31,399	+27,830	+82,390	+79,242
Operating Profit	+29,589	+31,458	+24,664	+17,987	+32,287	+24,720	+31,816	+57,809	+47,993	+18,719	+16,910
OPM	+0	+0	+0	+0	+0	+0	+0	+0	+0	+0	+0
Other Income	+1,869	+5,933	-26,686	+102	-11,118	+2,424	+6,664	+4,807	+14,219	+86,291	+84,536
Price	+281	+197	+105	+43	+182	+262	+254	+600	+407	+296	+301
Price to earning	+11	+6	-1	-1	-5	-8	+35	+6	+5	+1	+1
Profit before tax	+9,315	+11,155	-31,371	-10,580	-10,474	-7,003	+3,394	+27,783	+37,209	+82,399	+78,664
Sales	+269,693	+291,550	+301,938	+261,068	+249,795	+278,454	+345,967	+434,016	+366,094	+335,582	+343,703
Tax	+3,251	+4,342	-2,437	+395	+2,542	+4,231	+704	-4,024	+9,060	-246	-838

Metric	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Depreciation	+7,143	+6,565	+5,467	+4,863	+4,717	+4,851	+4,871	+4,969	+5,092	+4,880
Expenses	+102,348	+91,854	+73,742	+84,070	+83,990	+79,515	+73,753	+69,229	+94,188	+89,623
Interest	+1,645	+1,471	+1,094	+843	+828	+692	+686	+682	+767	+835
Net profit	+17,407	+10,514	+3,446	+5,406	+8,470	+3,924	+76,170	-3,486	+5,783	+775
Operating Profit	+16,685	+15,248	+9,914	+10,402	+14,387	+8,162	-1,404	+879	+11,259	+6,176
OPM	+0	+0	+0	+0	+0	+0	0	+0	+0	+0
Other Income	+1,412	+6,553	+1,920	+2,730	+2,361	+2,690	+81,507	+39	+1,877	+1,113
Profit before tax	+9,309	+13,765	+5,273	+7,426	+11,203	+5,309	+74,546	-4,733	+7,277	+1,574
Sales	+119,033	+107,102	+83,656	+94,472	+98,377	+87,677	+72,349	+70,108	+105,447	+95,799
Tax	-8,219	+3,178	+1,752	+1,942	+2,647	+1,306	-1,702	-1,250	+1,399	+715