Tata Motors Q3 Results: Revenue ka toofani jump, Investors ki jeb garam!

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AuthorIshaan Verma|Published at:
Tata Motors Q3 Results: Revenue ka toofani jump, Investors ki jeb garam!
Overview

Arre yaar, Tata Motors ne Q3 FY26 mein dhamaka kar diya! Revenue seedha **17%** upar bhaga, pakad li **₹21,533 Crore** ki level. Wholesale volumes bhi **20%** zyada rahi aur company ne **₹4,800 Crore** ka zabardast free cash flow bhi generate kiya hai. Net cash position bhi ekdum solid hai.

Toh bhai, is quarter mein Tata Motors ne 116.8K units ki wholesale volumes deliver ki, jo pichhle saal se 20% zyada hai. Isse revenue 17% badh kar ₹21,533 Crore ho gaya. Company ka EBITDA margin 30 basis points badha hai, matlab yeh unka 10th quarter hai jab unhone double-digit EBITDA dikhaya hai. Especially Commercial Vehicles (CV) segment ne kamaal kar diya, unka EBIT margin 10.6% raha. Agar exceptional items hatadein toh profit before tax ₹2,300 Crore tak pahunch gaya, jo pichhle saal se ₹600 Crore zyada hai.

Haan, ek baat aur hai, is quarter mein kuch bade 'exceptional items' bhi the, jo consolidated basis par lagbhag ₹1,600 Crore ke the. Yeh mainly naye labor code ke chakkar mein (lagbhag ₹603 Crore), demerger activities ke liye (around ₹960 Crore) aur IVECO acquisition se related (around ₹82 Crore) kharch hue hain.

Cash flow ki baat karein toh company ne ₹4,800 Crore ka free cash flow generate kiya hai is quarter mein. December 2025 tak unki net cash position bhi ₹3,900 Crore pe maintain hai. Agar is saal ke figures dekhein, toh revenue ₹57,000 Crore ke aas paas hai (+6% YoY), EBITDA margin 12.4% aur EBIT margin 10.1% raha hai. Aur ROCE toh 53% hai YTD, matlab paisa bhi mast bana rahe hain ye log!

Yeh achha free cash flow isliye aaya kyunki operating profits strong the, working capital ko smartly manage kiya aur capital expenditure pe bhi control rakha. Commodity prices badhne ke bawajood margin badhna, yeh dikhata hai ki company andar se kaafi efficient ho gayi hai. Aur woh 53% ROCE toh keh raha hai ki ye log lagaye hue paison pe accha return kama rahe hain.

Management toh bade confident hain, keh rahe hain ki yeh growth Q4 FY26 aur aage bhi maintain rahegi. Iske peeche demand aur infrastructure activity chal rahi hai. Unka focus market share se zyada profitable growth pe hai. Company ne 17 naye generation trucks launch kiye hain, electric variants bhi included hain, aur bus bodybuilding capacity 15% badha di hai. IVECO deal bhi Q1 FY27 tak finalize ho jayegi.

Ab risks ki baat karein toh commodity prices ka badhna ek headwind hai, jise company ne January mein 1% price hike se manage karne ki koshish ki hai. Supply chain mein bhi kuch dikkatein hain, especially castings mein, lekin company usko bhi solve kar rahi hai. Vehicle financing mein jo default hone ka trend tha, woh bhi ab stabilise ho raha hai aur improve kar raha hai.

Aage dekha jaye toh Q4 FY26 aur FY27 ke liye outlook bahut positive hai. Bus segment mein higher single-digit growth aur exports mein strong double-digit growth ki umeed hai. Government ke bade tenders jeete hain buses ke liye, unki deliveries Q4 mein shuru hongi. Agle saal ka detailed guidance Q4 results ke baad milega. Company ko har segment mein demand badhne ki ummeed hai, aur naye models truck volume ko aur tez karenge.

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