Tata Motors Passenger Vehicles Ltd

₹ 354 1.09%

16 Jan 3:40 p.m.

🔗 Website | BSE: 500570 | NSE: TMPV

Market Cap1,30,207

Current Price354

High / Low475

Stock P/E19.7

Book Value66.7

Dividend Yield1.70

ROCE20.3

ROE17.9

ABOUT

Tata Motors Group is a leading global automobile manufacturer. Part of the illustrious multi-national conglomerate, the Tata group, it offers a wide and diverse portfolio of cars, sports utility vehicles, trucks, buses and defence vehicles to the world.It has operations in India, the UK, South Korea, South Africa, China, Brazil, Austria and Slovakia through a strong global network of subsidiaries, associate companies and Joint Ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.[1]

Stock Analysis

Description

Tata Motors Passenger Vehicles Limited is a leading Indian multinational automotive manufacturer, part of the Tata Group. The company designs, manufactures, and sells a wide range of passenger vehicles, including SUVs, sedans, and electric vehicles, serving domestic and international markets.

Key Growth Triggers

Currently no data available for Key Growth Triggers.

Order Book

Currently no data available for Order Book.

Key Red Flags

Currently no data available for Key Red Flags.

Key Dates To Watch

Currently no data available for Key Dates To Watch.

Peer Comparison

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Maruti Suzuki	15856.55	33.83	498534.02	0.84	3349.00	7.95	42344.20	13.07	21.70	160633.80	12.22	14779.40	3349.00	5.02	11.69	0.00
2.	M & M	3660.00	32.06	455131.54	0.68	3963.75	15.85	46105.67	21.57	13.93	175704.22	18.95	14232.39	3673.32	5.49	5.51	1.53
3.	Hyundai Motor I	2340.20	33.89	190150.83	0.91	1570.25	17.38	17061.03	1.10	54.25	66889.41	13.20	5612.65	1570.25	11.26	19.97	0.05
4.	Tata Motors PVeh	353.60	19.69	130207.26	1.70	82081.00	-1680.00	12955.00	7.47	20.26	61032.00	8.75	6620.63	-237.00	5.27	8.65	0.12
5.	Force Motors	20455.00	32.92	26952.03	0.20	350.70	159.72	2081.40	7.22	29.99	8624.15	14.46	820.18	350.67	7.63	11.53	0.00
6.	Olectra Greentec	1112.60	63.87	9132.26	0.04	49.43	4.18	656.62	25.39	20.52	1968.13	13.68	142.91	49.55	8.16	7.46	0.33
7.	Mercury EV-Tech	32.48	69.97	617.03	0.00	1.72	7.50	34.01	74.59	5.16	122.86	8.41	8.82	1.72	2.27	3.17	0.03

Quarterly Results

Figures in Cr.

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	14,874	14,947	15,794	20,142	15,833	18,542	18,669	20,260	16,862	12,055	17,040	19,999	11,038	12,955
YOY Sales Growth %	—	35.93%	27.86%	16.17%	6.44%	24.05%	18.2%	0.59%	6.5%	-34.99%	-8.73%	-1.29%	-34.54%	7.47%
Expenses	14,272	14,394	14,473	18,087	14,554	16,599	16,693	17,842	14,957	11,306	15,031	17,547	10,663	12,448
Material Cost %	—	77%	74%	74%	72%	72%	70%	71%	69%	82%	69%	69%	82%	83%
Employee Cost %	—	6%	6%	5%	7%	6%	6%	5%	7%	4%	7%	6%	4%	4%
Operating Profit	603	553	1,321	2,055	1,279	1,943	1,976	2,418	1,905	749	2,009	2,452	375	507
OPM %	4%	4%	8%	10%	8%	10%	11%	12%	11%	6%	12%	12%	3%	4%
Other Income	209	191	173	-35	-349	454	3,815	37	1,951	938	282	-23	6,466	82,650
Exceptional items	—	-4	-0	-277	-648	-126	3,669	-87	-38	646	-24	-230	1,411	82,318
Other income normal	—	195	173	242	299	580	146	124	1,989	292	306	207	5,055	332
Interest	529	549	503	466	412	471	412	410	344	89	265	252	69	65
Depreciation	423	446	430	468	496	509	513	499	477	634	497	542	637	636
Profit before tax	-140	-252	560	1,086	22	1,417	4,866	1,546	3,035	964	1,529	1,635	6,135	82,456
Tax %	30%	16%	10%	-148%	391%	10%	6%	-38%	28%	31%	8%	15%	14%	0%
Net Profit	-181	-293	506	2,696	-64	1,270	4,570	2,126	2,190	661	1,404	1,382	5,266	82,081
EPS in Rs	-0.55	-0.88	1.52	8.12	-0.19	3.82	13.75	6.4	6.59	1.8	3.81	3.75	14.3	222.91

Profit & Loss

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	34,288	36,302	42,845	44,316	57,897	69,203	43,928	30,175	47,264	65,757	73,303	69,419	61,032
Sales Growth %	—	—	—	—	—	—	—	—	—	—	—	—	—
Expenses	35,184	37,539	40,460	42,706	55,523	64,263	44,579	28,821	45,765	61,226	65,688	61,408	55,689
Material Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Raw material cost	—	—	—	—	—	—	—	—	—	—	—	—	—
Change in inventory	—	—	—	—	—	—	—	—	—	—	—	—	—
Manufacturing Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Employee Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating Profit	-895	-1,237	2,385	1,611	2,374	4,940	-651	1,354	1,499	4,531	7,615	8,011	5,343
OPM %	-3%	-3%	6%	4%	4%	7%	-1%	4%	3%	7%	10%	12%	9%
Other Income	3,293	1,478	1,469	642	1,526	2,352	-1,128	112	1,092	538	3,959	2,471	89,375
Exceptional items	—	—	—	—	—	—	—	—	—	—	—	—	—
Other income normal	—	—	—	—	—	—	—	—	—	—	—	—	—
Interest	1,353	1,612	1,592	1,569	1,744	1,794	1,973	2,111	2,122	2,048	1,706	1,122	651
Depreciation	2,070	2,603	2,329	3,037	3,102	3,099	3,375	1,731	1,761	1,767	2,017	2,008	2,312
Profit before tax	-1,026	-3,975	-67	-2,353	-947	2,399	-7,127	-2,375	-1,292	1,255	7,851	7,352	91,755
Tax %	-133%	19%	-7%	3%	9%	16%	2%	1%	8%	-117%	-1%	26%	—
Net Profit	335	-4,739	-62	-2,430	-1,035	2,021	-7,290	-2,395	-1,391	2,728	7,902	5,452	90,133
Exceptional items AT	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit excl Excep	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit for PE	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit for EPS	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS in Rs	1.16	-16.41	-0.22	-8.41	-3.58	7	-23.6	-7.21	-4.19	8.21	23.77	14.81	244.77
Dividend Payout %	192%	0%	-109%	0%	0%	0%	0%	0%	0%	28%	29%	40%	—

Balance Sheet

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	644	644	679	679	679	679	720	766	766	766	767	736	737
Reserves	18,533	14,219	22,583	20,483	19,492	21,483	17,668	18,290	19,178	21,704	29,376	32,706	23,825
Borrowings	15,053	21,134	16,473	19,357	18,464	18,640	26,050	22,439	23,529	19,279	14,190	9,006	3,001
Long term Borrowings	9,746	12,319	10,600	13,686	13,156	13,915	14,777	16,327	14,103	10,446	5,236	3,626	1,668
Short term Borrowings	4,769	7,762	3,655	5,159	3,100	3,618	6,121	2,542	9,130	8,427	8,535	4,982	750
Lease Liabilities	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Borrowings	537	1,053	2,219	512	2,208	1,098	4,547	2,879	0	0	0	0	—
Other Liabilities	15,505	13,946	16,941	18,359	20,577	20,107	18,152	23,565	20,427	19,971	21,701	22,972	12,933
Trade Payables	9,672	8,853	9,028	11,462	14,226	13,502	10,844	15,988	13,986	13,002	13,335	13,267	8,007
Advance from Customers	548	499	729	850	0	0	0	0	0	0	0	0	—
Other liability items	5,285	4,594	7,183	6,046	6,352	6,605	7,308	7,577	6,441	6,969	8,366	9,705	4,926
Total Liabilities	49,734	49,943	56,676	58,878	59,212	60,910	62,590	65,060	63,900	61,720	66,034	65,420	40,496
Fixed Assets	15,241	15,783	21,076	20,773	21,604	22,287	25,208	26,423	14,076	14,542	14,345	14,115	15,011
Land	641	641	4,575	4,575	4,575	4,575	4,961	4,961	4,138	4,127	4,111	4,180	—
Building	2,967	3,077	3,283	3,416	3,555	3,620	4,152	4,264	3,007	3,047	3,049	3,060	—
Plant Machinery	18,350	19,609	22,481	24,804	26,219	27,535	30,478	31,983	16,807	17,281	17,974	18,685	—
Equipments	50	50	0	0	0	0	0	0	0	0	0	0	—
Furniture & fittings	—	—	—	—	—	—	—	—	—	—	—	—	—
Vehicles	164	160	177	187	242	272	303	305	276	339	402	445	—
Intangible Assets	276	276	7,245	448	490	459	577	577	478	565	597	446	4,351
Other fixed assets	5,647	7,087	513	5,390	6,988	8,112	10,181	12,193	4,955	3,601	4,457	4,896	—
Gross Block	28,791	31,814	39,305	39,886	43,166	45,397	51,750	55,235	30,439	29,658	31,352	32,485	—
Accumulated Depreciation	13,551	16,031	18,230	19,113	21,562	23,110	26,542	28,812	16,363	15,116	17,007	18,370	—
CWIP	6,355	6,041	5,687	7,271	5,197	6,287	4,495	3,006	1,467	1,085	1,234	1,824	980
Investments	18,458	16,987	16,963	17,296	16,764	16,867	16,616	17,693	34,399	32,325	32,309	34,284	14,192
Other Assets	9,680	11,132	12,950	13,539	15,648	15,469	16,271	17,937	13,957	13,768	18,146	15,197	10,313
Inventories	3,863	4,802	5,118	5,553	5,670	4,662	3,832	4,552	3,718	3,028	3,470	3,154	3,024
Trade receivables	1,217	1,114	2,046	2,128	3,480	3,251	1,978	2,088	2,112	2,308	2,765	2,280	295
Receivables under 6m	942	928	2,678	2,821	4,023	3,852	2,618	2,672	2,542	1,625	2,067	1,616	—
Receivables over 6m	786	759	0	0	0	0	0	0	0	1,237	1,239	1,251	—
Prow for Doubtful	—	—	—	—	—	—	—	—	—	—	—	—	—
Cash Equivalents	226	945	788	327	795	1,307	3,532	4,319	2,605	1,415	5,151	1,601	2,001
Loans & Advances	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Assets items	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Assets	49,734	49,943	56,676	58,878	59,212	60,910	62,590	65,060	63,900	61,720	66,034	65,420	40,496

Cash Flows

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	2,463	-2,214	2,703	1,453	4,134	6,293	-1,455	6,680	5,282	4,775	8,662	9,795
Profit from operations	-563	-620	3,502	1,662	4,091	6,167	439	1,961	2,683	5,010	8,523	8,615
Receivables	381	-20	-678	-199	-1,217	164	1,168	-142	-1,016	-306	-553	388
Inventory	592	-940	-235	-572	-278	966	730	-765	-1,201	658	-541	257
Payables	1,213	-843	76	2,314	2,764	-725	-2,689	4,965	5,285	-957	315	-56
Loans Advances	0	0	-55	0	0	0	0	0	0	0	0	0
Other WC items	896	286	115	-1,636	-1,217	-97	-1,011	725	-314	539	1,164	583
Working capital changes	3,082	-1,517	-776	-93	52	308	-1,801	4,783	2,755	-67	385	1,172
Direct taxes	-56	-78	-24	-115	-8	-182	-93	-63	-156	-168	-246	8
Cash from Investing Activity	2,563	246	-3,264	-2,860	-710	-3,822	-4,637	-2,988	-4,681	917	1,492	-3,821
Fixed assets purchased	-3,105	-3,079	-3,284	-3,514	-2,823	-4,783	-4,669	-1,856	-1,831	-1,697	-1,991	-2,043
Fixed assets sold	11	25	34	17	28	30	155	178	100	123	39	113
Investments purchased	0	0	-1,669	-537	0	0	0	-673	-3,560	0	-33	-793
Investments sold	4,424	1,871	832	0	1,026	952	359	4	0	2,079	1,282	35
Interest received	182	80	254	259	399	327	471	154	301	185	180	346
Redeemp Cnce of Shares	—	—	—	—	—	—	—	—	—	—	—	—
Acquisition of companies	0	0	0	0	0	-0	0	0	0	0	0	0
Other investing items	241	-48	-301	361	-111	-1,076	-736	-740	917	160	-1,513	593
Cash from Financing Activity	-5,034	2,632	-79	1,209	-3,106	-2,530	7,749	-3,472	-516	-7,021	-7,930	-8,932
Redemption of debentures	—	—	—	—	—	—	—	—	—	—	—	—
Proceeds from borrowings	9,385	12,817	3,587	10,687	6,406	8,805	15,462	6,985	10,408	887	783	2,262
Repayment of borrowings	-10,912	-6,890	-9,013	-7,473	-7,410	-8,977	-9,128	-10,438	-8,517	-5,852	-6,031	-7,281
Interest paid fin	-1,750	-1,845	-2,086	-1,936	-2,098	-2,355	-2,270	-2,427	-2,272	-2,008	-1,839	-1,159
Dividends paid	-649	-649	0	-73	-3	-3	-4	-2	-2	0	-770	-2,304
Financial liabilities	0	0	0	0	0	0	-194	-192	-152	-68	-155	-422
Other financing items	-1,108	-801	0	0	0	0	-7	-0	0	0	0	-1,136
Net Cash Flow	-7	663	-639	-198	318	-59	1,658	220	85	-1,329	2,224	-2,958

Ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	13	11	17	18	22	17	16	25	16	13	14	12
Inventory Days	54	65	64	65	48	34	43	77	37	22	24	24
Days Payable	136	119	113	133	122	97	122	270	141	96	93	102
Cash Conversion Cycle	-69	-43	-32	-51	-51	-47	-62	-168	-87	-61	-55	-66
Working Capital Days	-132	-128	-80	-95	-79	-66	-138	-197	-148	-105	-96	-74
ROCE %	-3%	-6%	4%	-1%	4%	11%	-6%	0%	1%	8%	16%	20%

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	46.39%	46.39%	46.39%	46.38%	46.37%	46.36%	46.36%	42.58%	42.58%	42.58%	42.57%	42.57%
915 Labs Inc	—	—	—	—	—	—	—	—	—	—	0	0
AFCL Ghana Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
AFCL Premium Services Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
AFCL RSA (Pty) Limited	—	—	—	—	—	—	—	—	—	—	0	0
AFCL Zambia Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
AI Fleet Services IFSC Limited	—	—	—	—	—	—	—	—	—	—	0	0
APTOnline Limited	—	—	—	—	—	—	—	—	—	—	0	0
Actve Digital Services Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Agratas Energy Storage Solutions Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Agratas LLC	—	—	—	—	—	—	—	—	—	—	0	0
Agratas Limited	—	—	—	—	—	—	—	—	—	—	0	0
Air India Express Limited	—	—	—	—	—	—	—	—	—	—	0	0
Air India Limited	—	—	—	—	—	—	—	—	—	—	0	0
Akashastha Technologies Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Alliance Finance Corporation Limited	—	—	—	—	—	—	—	—	—	—	0	0
Alliance Leasing Limited	—	—	—	—	—	—	—	—	—	—	0	0
Alliance Leasing Uganda Limited	—	—	—	—	—	—	—	—	—	—	0	0
Apex Realty Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Ardent Properties Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Arrow Infraestate Pvt Limited	—	—	—	—	—	—	—	—	—	—	0	0
Artifex Interior Systems Limited	—	—	—	—	—	—	—	—	—	—	0	0
Artifex Systems AB (formerly known as Vintara AB)	—	—	—	—	—	—	—	—	—	—	0	0
Artson Limited	—	—	—	—	—	—	—	—	—	—	0	0
Automotive Stampings and Assemblies Limited	—	—	—	—	—	—	—	—	—	—	0	0
BUC Mobile Inc	—	—	—	—	—	—	—	—	—	—	0	0
Blackwood Hodge Zimbabwe (Private) Limited	—	—	—	—	—	—	—	—	—	—	0	0
C-Edge Technologies Limited	—	—	—	—	—	—	—	—	—	—	0	0
Calsea Footwear Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Campaign Registry Inc	—	—	—	—	—	—	—	—	—	—	0	0
Campaign Registry Inc (Canada)	—	—	—	—	—	—	—	—	—	—	0	0
Changshu Tata AutoComp Systems Limited	—	—	—	—	—	—	—	—	—	—	0	0
Concept Developers & Leasing Limited	—	—	—	—	—	—	—	—	—	—	0	0
Dailyninja Delivery Services Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Dharamshala Ropeway Limited	—	—	—	—	—	—	—	—	—	—	0	0
Diligenta (Europe) B_V_	—	—	—	—	—	—	—	—	—	—	0	0
Diligenta Limited	—	—	—	—	—	—	—	—	—	—	0	0
Durg Shivnath Expressways Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Ecofirst Services Limited	—	—	—	—	—	—	—	—	—	—	0	0
Ewart Investments Limited	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Fastighetsbolaget Färgelanda Assarbyn 1:15 AB (for___	—	—	—	—	—	—	—	—	—	—	—	0
Fastighetsbolaget Skara Sporren 20 AB (formerly kn___	—	—	—	—	—	—	—	—	—	—	—	0
Ferbine Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Goldcup 37220 AB	—	—	—	—	—	—	—	—	—	—	0	—
Goldcup 37221 AB	—	—	—	—	—	—	—	—	—	—	0	—
Gurgaon Constructwell Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Gurgaon Realtech Limited	—	—	—	—	—	—	—	—	—	—	0	0
HL Promoters Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
HLT Residency Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Hampi Expressways Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
ITXC IP Holdings S_A_R_L_	—	—	—	—	—	—	—	—	—	—	0	0
Impetis Biosciences Limited	—	—	—	—	—	—	—	—	—	—	0	0
Indian Rotorcraft Limited	—	—	—	—	—	—	—	—	—	—	0	0
Industrial Minerals and Chemicals Company Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Infiniti Retail Limited	—	—	—	—	—	—	—	—	—	—	0	0
Infopark Properties Limited	—	—	—	—	—	—	—	—	—	—	0	0
Innovative Retail Concepts Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
International Infrabuild Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
J R D Tata Trust - Mr V Srinivasan, Mr V Singh	0	—	0	0	0	0	0	0	0	0	0	0
Kaleyra Africa (Pty) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Kaleyra Dominicana SRL	—	—	—	—	—	—	—	—	—	—	0	0
Kaleyra Inc	—	—	—	—	—	—	—	—	—	—	0	0
Kaleyra SPA	—	—	—	—	—	—	—	—	—	—	0	0
Kaleyra UK Limited	—	—	—	—	—	—	—	—	—	—	0	0
Kaleyra US Inc_	—	—	—	—	—	—	—	—	—	—	0	0
Kolkata-One Excelton Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Kriday Realty Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
LFS Healthcare Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Lady Tata Memorial Trust - Mr_ F_K_ Kavarana, Dr_ ___	0	—	0	0	0	0	0	0	0	0	0	0
Land kart Builders Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Leanluxe Hospitality Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
MP Online Limited	—	—	—	—	—	—	—	—	—	—	0	0
MahaOnline Limited	—	—	—	—	—	—	—	—	—	—	0	0
Matheran Rope-Way Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Mgage Athens PC	—	—	—	—	—	—	—	—	—	—	0	0
Mgage SA de CV	—	—	—	—	—	—	—	—	—	—	0	0
Mgdc, S_C_	—	—	—	—	—	—	—	—	—	—	0	0
Mikado Realtors Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Motor-Hub East Africa Limited	—	—	—	—	—	—	—	—	—	—	0	0
Mr_ F_K_ Kavarana, Dr_ P_B_ Desai, Dr_ M_ Chandy	—	0	—	—	—	—	—	—	—	—	—	—
Mr_ R_N_ Tata, Mr_ V_ Srinivasan , Mr_ V_ Singh, M___	—	0	—	—	—	—	—	—	—	—	—	—
Mr_ R_N_ Tata, Mr_ V_ Srinivasan, Mr_ V_ Singh	—	0	—	—	—	—	—	—	—	—	—	—
Mr_ R_N_ Tata, Mr_ V_ Srinivasan, Mr_ V_ Singh, Mr___	—	0	—	—	—	—	—	—	—	—	—	—
MuCoso B_V_	—	—	—	—	—	—	—	—	—	—	0	—
Nanjing Tata AutoCompTechnology Company Limited	—	—	—	—	—	—	—	—	—	—	0	0
Nanjing Tata Autocomp Systems Limited	—	—	—	—	—	—	—	—	—	—	0	0
Newshelf 1369 Proprietary Limited	—	—	—	—	—	—	—	—	—	—	—	0
Newshelf 1369 Pty Ltd_	—	—	—	—	—	—	—	—	—	—	0	—
Niskalp Infrastructure Services Limited	—	—	—	—	—	—	—	—	—	—	0	0
Nova Integrated Systems Limited	—	—	—	—	—	—	—	—	—	—	0	0
Novamesh Limited	—	—	—	—	—	—	—	—	—	—	0	0
OASIS Smart SIM Europe SAS	—	—	—	—	—	—	—	—	—	—	0	0
Oasis Smart E-Sim Pte Ltd	—	—	—	—	—	—	—	—	—	—	0	0
One Bangalore Luxury Projects LLP	—	—	—	—	—	—	—	—	—	—	0	0
One-Colombo Project (Private) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Panatone Finvest Limited	—	—	—	—	—	—	—	—	—	—	0	0
Princeton Infrastructure Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Promont Hillside Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Promont Hilltop Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Protraviny Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Pune IT City Metro Rail Limited	—	—	—	—	—	—	—	—	—	—	0	0
Qubit Investments Pte_ Limited	—	—	—	—	—	—	—	—	—	—	0	0
Ranata Hospitality Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Real Stochastics Institute Of Data Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Ryhpez Holding (Sweden) AB	—	—	—	—	—	—	—	—	—	—	0	0
SEPCO Communications (Pty) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Saankhya Labs Inc	—	—	—	—	—	—	—	—	—	—	0	0
Savis Retail Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Sector 113 Gatevida Developers Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Simto Investment Company Limited	0	0	0	0	0	0	0	0	0	0	0	0
Sir Dorabji Tata Trust , MrRNT,MrVSrinivasan,MrVSi___	0	—	0	0	0	—	—	—	—	—	—	—
Sir Dorabji Tata Trust- VSingh, VSrinivasan, NNTat___	—	—	—	—	—	0	0	0	0	0	0	0
Sir Ratan Tata Trust-RNT,VSrinivasan,VSingh,JNTata___	0	—	0	0	0	—	—	—	—	—	—	—
Sir Ratan Tata Trust-V Singh, VSrinivasan, M Mistr___	—	—	—	—	—	0	0	0	0	0	0	0
Smart Value Homes (Boisar) Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Smart Value Homes (New Project) LLP	—	—	—	—	—	—	—	—	—	—	0	0
Smart Value Homes (Peenya Project) Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Société Financière Décentralisé Alliance Finance C___	—	—	—	—	—	—	—	—	—	—	0	0
Sohna City LLP	—	—	—	—	—	—	—	—	—	—	0	0
Solutions Infini FZ LLC	—	—	—	—	—	—	—	—	—	—	0	0
Solutions Infini Technologies(India) Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Strategic Energy Technology Systems Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Stryder Cycle Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Supermarket Grocery Supplies Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Synergizers Sustainable Foundation	—	—	—	—	—	—	—	—	—	—	0	0
TACO EV Component Solutions Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TACO Engineering Services GmbH	—	—	—	—	—	—	—	—	—	—	0	0
TACO Prestolite Electric Private Limited	—	—	—	—	—	—	—	—	—	—	0	—
TACO Punch Powertrain Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TACO Sasken Automotive Electronics Limited	—	—	—	—	—	—	—	—	—	—	0	0
TASL Aerostructures Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TATA Africa Holdings (Kenya) Limited	—	—	—	—	—	—	—	—	—	—	0	0
TC (Shanghai) Network Services Company Limited	—	—	—	—	—	—	—	—	—	—	0	0
TC Networks Switzerland SA	—	—	—	—	—	—	—	—	—	—	0	0
TCC Construction Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TCE Delaware Corp_	—	—	—	—	—	—	—	—	—	—	0	0
TCPOP Communication GmbH	—	—	—	—	—	—	—	—	—	—	0	0
TCS Business Services GmbH	—	—	—	—	—	—	—	—	—	—	0	0
TCS FNS Pty Limited	—	—	—	—	—	—	—	—	—	—	0	0
TCS Financial Solutions Australia Pty Limited	—	—	—	—	—	—	—	—	—	—	0	0
TCS Foundation	—	—	—	—	—	—	—	—	—	—	0	0
TCS Iberoamerica S_A_	—	—	—	—	—	—	—	—	—	—	0	0
TCS Inversiones Chile Limitada	—	—	—	—	—	—	—	—	—	—	0	0
TCS Solution Center SA	—	—	—	—	—	—	—	—	—	—	0	0
TCS Technology Solutions GmbH	—	—	—	—	—	—	—	—	—	—	0	0
TCS Uruguay S_A_	—	—	—	—	—	—	—	—	—	—	0	0
TCS e-Serve International Limited	—	—	—	—	—	—	—	—	—	—	0	0
TCTS Senegal Limited	—	—	—	—	—	—	—	—	—	—	0	0
TEL Components Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TESS Services Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
THDC Management Services Limited	—	—	—	—	—	—	—	—	—	—	0	0
TIGAL Autoleather Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TIL Motor Hub Trading FZE	—	—	—	—	—	—	—	—	—	—	0	0
TIL Motor-Hub Nigeria LFZ Enterprise (formerly kno___	—	—	—	—	—	—	—	—	—	—	—	0
TISPL Trading Company Limited	—	—	—	—	—	—	—	—	—	—	0	0
TP Luminaire Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TPL Services Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TPL-Asara Engineering South Africa (Proprietary) Limited	—	—	—	—	—	—	—	—	—	—	0	0
TPL-CIL Construction LLP	—	—	—	—	—	—	—	—	—	—	0	0
TQ Cert Services (Shanghai) Limited	—	—	—	—	—	—	—	—	—	—	0	0
TQ Cert Services LLC	—	—	—	—	—	—	—	—	—	—	0	0
TQ Cert Services Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TQ Services Europe GmbH	—	—	—	—	—	—	—	—	—	—	0	0
TRIL Bengaluru Consultants Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TRIL Bengaluru Real Estate One Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TRIL IT4 Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TRIL Roads Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TRIL Urban Transport Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TS Investments Limited	—	—	—	—	—	—	—	—	—	—	0	0
TSBB Voice Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
TTL Mobile Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Taj Air Limited	—	—	—	—	—	—	—	—	—	—	0	0
Talakrit Foundation	—	—	—	—	—	—	—	—	—	—	0	0
Tata 1mg Healthcare Solutions Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata 1mg Technologies Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Advanced Systems Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Advanced Systems Maroc Sarlau	—	—	—	—	—	—	—	—	—	—	0	0
Tata Africa (Cote D’Ivoire) SARL	—	—	—	—	—	—	—	—	—	—	0	0
Tata Africa Holdings (Ghana) Ltd	—	—	—	—	—	—	—	—	—	—	0	0
Tata Africa Holdings (SA) (Proprietary) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Africa Holdings (Tanzania) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Africa Services (Nigeria) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata America International Corporation	—	—	—	—	—	—	—	—	—	—	0	0
Tata Asset Management (Mauritius) Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Asset Management Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata AutoComp Europe Limited (Formerly Jaguar Land___	—	—	—	—	—	—	—	—	—	—	0	0
Tata AutoComp Gotion Green Energy Solutions Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Autocomp Hendrickson Suspensions Private Limited	—	—	—	—	—	—	—	—	—	—	0	—
Tata Autocomp Systems Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Business Hub Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Capital Advisors Pte_ Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Capital Housing Finance Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Capital Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Capital Pte_ Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Chemicals Limited	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.05	0.05	0.05	0.05
Tata ClassEdge Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (America) Inc_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Australia) Pty Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Beijing) Technology Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Belgium) Srl	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Brazil) Participacoes Limitada	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Canada) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (France) SAS	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Guam) L_L_C_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Hong Kong) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Hungary) KFT	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (International) Pte Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Ireland) DAC	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Italy) SRL	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Japan) KK_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Malaysia) Sdn_ Bhd_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Middle East) FZ-LLC	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Netherlands) B_V_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (New Zealand) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Nordic) AS	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Poland) SP_Z_O_O_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Portugal) Instalacao E Manute___	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Portugal) Unipessoal LDA	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Russia) LLC	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (South Korea) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Spain) S_L_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Sweden) AB	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Switzerland) GmbH	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Taiwan) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (Thailand) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications (UK) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Collaboration Services Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Comunicacoes E Multimídia (Bra___	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Deutschland GMBH	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Lanka Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Middle East Technology Services L_L_C	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications SVCS Pte Ltd	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Services (International) Pte_ Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Transformation Services (Hungary) Kft_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Transformation Services (US) Inc	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Transformation Services Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Transformation Services Pte Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Communications Transformation Services South ___	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services (Africa) (Proprietary) Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services (China) Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services (Philippines) Inc_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services (Portugal), Unipessoal LDA	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services (South Africa) (Proprietary) Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services (Thailand) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Argentina Sociedad Anonima	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Asia Pacific Pte_ Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Belgium	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Bulgaria EOOD	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Canada Inc_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Chile S_A_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services De Espana, S_A_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services De Mexico, S_A_ De C_V_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Deutschland GmbH	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Do Brasil Ltda_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services France	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Guatemala, S_A_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Indonesia, PT	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Ireland Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Italia S_R_L_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Japan, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Luxembourg S_A_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Malaysia Sdn_ Bhd_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Netherlands B_V_	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Osterreich GmbH	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Qatar	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Saudi Arabia	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Sverige Aktiebolag	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services Switzerland Ltd	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consultancy Services UK Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consulting Engineers Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consulting Engineers USA, LLC (Formerly CDI E___	—	—	—	—	—	—	—	—	—	—	0	0
Tata Consumer Products Limited	0	0	0	0	0	0	0	0	0	0	0	0
Tata Digital Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Electronics America Inc	—	—	—	—	—	—	—	—	—	—	0	0
Tata Electronics Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Electronics Products and Solutions Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Electronics Singapore Pte_ Ltd	—	—	—	—	—	—	—	—	—	—	0	0
Tata Electronics Systems Solutions Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Electronics Taiwan Co_ Ltd	—	—	—	—	—	—	—	—	—	—	0	0
Tata Elxsi Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Engineering Consultants Saudi Arabia Company	—	—	—	—	—	—	—	—	—	—	0	0
Tata Fintech Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Holdings Mocambique Limitada	—	—	—	—	—	—	—	—	—	—	0	—
Tata Holdings Mozambique, Lda	—	—	—	—	—	—	—	—	—	—	—	0
Tata Housing Development Company Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Incorporated	—	—	—	—	—	—	—	—	—	—	0	0
Tata Industries Limited	2.17	2.17	2.17	2.17	2.17	2.17	2.17	1.96	1.96	1.96	1.96	1.96
Tata International AG, Zug	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Canada Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Metals (Americas) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Metals (Asia) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Metals (Guangzhou) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Nigeria LFZ Enterprise	—	—	—	—	—	—	—	—	—	—	0	—
Tata International Senegal S_A_	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Singapore Pte Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Vehicle Applications Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International Vietnam Company Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata International West Asia DMCC	—	—	—	—	—	—	—	—	—	—	0	0
Tata Investment Corporation Limited	0.33	0.33	0.33	0.33	0.33	0.33	0.33	0.3	0.3	0.3	0.3	0.3
Tata Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Medical and Diagnostics Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Motors (SA) (Proprietary) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Neu Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Payments Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Pension Management Fund Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Play Broadband Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Play Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Projects Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Realty and Infrastructure Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Securities Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Semiconductor Assembly And Test Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Semiconductor Manufacturing Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Sons Private Limited	43.72	43.72	43.72	43.71	43.7	43.69	43.69	40.16	40.16	40.16	40.15	40.15
Tata South East Asia (Cambodia) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Steel Limited	0	0	0	0	0	0	0	0	0	0	0	0
Tata Tele NXTGEN Solutions Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Teleservices (Maharashtra) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Teleservices Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Toyo Radiator Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Trustee Company Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Uganda Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Unistore Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Value Homes Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata West Asia FZE	—	—	—	—	—	—	—	—	—	—	0	0
Tata Zambia Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tata Zimbabwe (Private) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tatasolution Center S_A_	—	—	—	—	—	—	—	—	—	—	0	0
Technopolis Knowledge Park Limited	—	—	—	—	—	—	—	—	—	—	0	—
Tejas Communication Pte Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tejas Communications (Nigeria) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tejas Networks Limited	—	—	—	—	—	—	—	—	—	—	0	0
The Indian Hotels Company Limited	—	—	—	—	—	—	—	—	—	—	0	0
The Switch Enterprises, Llc	—	—	—	—	—	—	—	—	—	—	0	0
The Tata Power Company Limited	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Titan Company Limited	—	—	—	—	—	—	—	—	—	—	0	0
TitanX Engine Cooling AB	—	—	—	—	—	—	—	—	—	—	0	0
TitanX Engine Cooling Inc_	—	—	—	—	—	—	—	—	—	—	0	0
TitanX Engine Cooling Kunshan Co_ Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
TitanX Engine Cooling SRL	—	—	—	—	—	—	—	—	—	—	0	0
TitanX Engine Cooling, Sp_z_o_o	—	—	—	—	—	—	—	—	—	—	0	0
TitanX Holding AB	—	—	—	—	—	—	—	—	—	—	0	0
TitanX Refrigeracão de Motores LTDA	—	—	—	—	—	—	—	—	—	—	0	0
Trent Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tril Bengaluru Real Estate Five Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tril Bengaluru Real Estate Six Limited	—	—	—	—	—	—	—	—	—	—	0	0
Tril Real Estate Balewadi Limited	—	—	—	—	—	—	—	—	—	—	0	0
Uchit Expressways Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Ujjwal Pune Limited	—	—	—	—	—	—	—	—	—	—	0	0
VSNL SNOSPV Pte_ Limited	—	—	—	—	—	—	—	—	—	—	0	0
Vidiyal Residency Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Voltas Limited	—	—	—	—	—	—	—	—	—	—	0	0
World-One (Sri Lanka) Projects Pte_ Limited	—	—	—	—	—	—	—	—	—	—	0	0
World-One Development Company Pte_ Limited	—	—	—	—	—	—	—	—	—	—	0	0
FIIs	13.89%	15.34%	17.72%	18.4%	18.62%	19.2%	18.18%	20.54%	18.66%	17.84%	17.17%	17.13%
Government Of Singapore	—	1.01	1.06	—	—	—	—	—	—	—	—	—
DIIs	15.21%	17.69%	17.38%	17.37%	17.25%	16.01%	15.93%	16.08%	16.54%	16.88%	16.93%	17.03%
Axis Mutual Fund Trustee Limited A/C Axis Mutual F___	—	—	—	1.22	1.26	1.2	—	—	—	—	—	—
Hdfc Trustee Company Ltd_ A/C Hdfc Large Cap Fund	—	—	—	—	—	—	—	—	—	1.38	1.34	1.24
Hdfc Trustee Company Ltd_ A/C Hdfc Top 100 Fund	—	1.21	—	—	—	—	1.17	1.1	1.25	—	—	—
ICICI Prudential Value Discovery Fund	—	—	—	—	—	—	—	1.31	1.49	1.82	1.85	—
Icici Prudential Value Fund	—	—	—	—	—	—	—	—	—	—	—	2.16
Life Insurance Corporation Of India	5.22	5.21	5.07	3.89	3.07	3.01	2.94	2.54	2.54	3.15	3.89	4.65
Sbi Long Term Equity Fund	—	—	—	—	2.57	—	—	—	—	—	—	—
Sbi Nifty 50 Etf	1.93	2.16	2.25	2.49	—	2.35	2.45	2.67	2.87	2.82	2.79	2.78
UTI - Nifty Exchange Traded Fund	—	1.02	—	—	—	1.03	1	—	—	—	—	—
UTI Large Cap Fund	—	—	—	—	1.05	—	—	—	—	—	—	—
Government	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.29%	0.31%	0.31%	0.31%	0.31%
Public	24.36%	20.41%	18.38%	17.7%	17.6%	18.31%	19.39%	20.49%	21.91%	22.39%	23.01%	22.97%
Others	—	—	—	—	—	—	—	—	—	—	—	—
No. of Shareholders	39,93,043	38,14,831	35,02,408	37,73,314	41,84,369	46,16,908	50,98,550	57,27,234	64,62,123	67,28,246	67,52,775	66,55,776

News & Updates

BSE Announcements

Direct from BSE filings, AI summarised

Tata Motors Passenger Vehicles Limited Reaffirms ESG Rating of 71 ('Aspiring') by NSE Sustainability

16 Jan 2026

Tata Motors Limited Announces Board Meeting for Q3 FY26 Results and Trading Window Closure

12 Jan 2026

Tata Motors Passenger Vehicles Announces Board Meeting for Q3 FY26 Results Approval and Closes Trading Window

12 Jan 2026

Tata Motors Subsidiary Acquires 26% Stake in E-Mobility Firm Traveltime E-Mobility Chennai Private Limited

8 Jan 2026

Tata Motors Passenger Vehicles Limited Announces Stake Reduction in TP Paarthav Limited, Ceases Associate Status

8 Jan 2026

Other Websites

External media mentions

Indian Car Wars: Taxi Segment Explodes, Carmakers Vie for Dominance

18 Jan 2026

Delhi EV Retrofit Drive Sparks Automaker Safety, Business Wars

18 Jan 2026

Commercial Vehicle Sales Surge 10% Driven by GST 2.0 and Festival Demand

16 Jan 2026

ICICI Direct Flags Tata Motors CV for ₹500 Target on Strong Outlook

16 Jan 2026

Mercedes-Benz India Sales Dip 3% in 2025, First Fall in 5 Years

15 Jan 2026

News Articles

Editorial & research coverage

Indian Car Wars: Taxi Segment Explodes, Carmakers Vie for Dominance

18 Jan 2026

Delhi EV Retrofit Drive Sparks Automaker Safety, Business Wars

18 Jan 2026

Commercial Vehicle Sales Surge 10% Driven by GST 2.0 and Festival Demand

16 Jan 2026

ICICI Direct Flags Tata Motors CV for ₹500 Target on Strong Outlook

16 Jan 2026

Mercedes-Benz India Sales Dip 3% in 2025, First Fall in 5 Years

15 Jan 2026

Documents

Announcements

Board Meeting Intimation for Considering And Approving The Audited Standalone Financial Results And Unaudited Consolidated Financial Results With Limited Review For The Third Quarter And Nine Months Ended December 31, 2025.

12 Jan - Board meeting on Feb 5, 2026 to approve Q3 and nine-month results for Dec 31, 2025; analyst call.

Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015

8 Jan - Tata Motors PV stake in TPPL reduced to 12.89%; TPPL ceased being associate effective Jan 8, 2026.

SIAM Report - October To December 2025

6 Jan - SIAM Oct–Dec 2025 report: Tata Motors PV production and sales; Nexon/Punch 114,393 produced, domestic sales detailed.

Announcement under Regulation 30 (LODR)-Press Release / Media Release

5 Jan - JLR Q3 FY26 wholesales 59,200 (-43.3% YoY), retail 79,600 (-25.1%); cyber incident disrupted production.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

5 Jan - Certificate under Regulation 74 of the SEBI (DP) Regulations, 2018 for the quarter ended December 31, 2025

Annual Reports

FY Financial Year 2025

(from bse)

FY Financial Year 2024

(from bse)

FY Financial Year 2023

(from bse)

FY Financial Year 2022

(from bse)

FY Financial Year 2021

(from bse)

FY Financial Year 2020

(from bse)

FY Financial Year 2019

(from bse)

FY Financial Year 2018

(from bse)

FY Financial Year 2017

(from bse)

FY Financial Year 2016

(from bse)

FY Financial Year 2015

(from bse)

FY Financial Year 2014

(from bse)

FY Financial Year 2013

(from nse)

FY Financial Year 2013

(from bse)

FY Financial Year 2012

(from bse)

Credit Ratings

Rating update

27 Nov 2025 from crisil

Rating update

25 Nov 2025 from icra

Rating update

20 Oct 2025 from crisil

Rating update

16 Oct 2025 from icra

Rating update

10 Oct 2025 from care

Rating update

10 Oct 2025 from care

Concalls

Nov 2025

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Aug 2025

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Jul 2025

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Jun 2025

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Jun 2025

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Jun 2024

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Dec 2023

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Dec 2022

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Nov 2021

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Oct 2021

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Jul 2021

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May 2021

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Feb 2021

PPT

Jan 2021

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Oct 2020

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Jul 2020

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Jan 2017

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Tata Motors Passenger Vehicles Ltd

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