Archive · 5 Nov 2025
Tata Motors Passenger Vehicles to Announce First Earnings Post-Demerger
Tata Motors, a company that makes both cars and trucks, recently split into two separate companies.
One company, called Tata Motors Passenger Vehicles (TMPV), now handles all the cars, including the fancy Jaguar and Land Rover ones, and electric cars.
The other company, which used to be called Tata Motors Commercial Vehicles, will handle only trucks and other heavy vehicles, and has now been renamed Tata Motors Ltd.
This split became official on October 1, 2025.
Now, TMPV, the car company, will share its first-ever financial report on November 14, 2025, covering the period from July to September.
This report will show how the car business, including JLR, did.
The truck company is also expected to start trading on the stock market sometime in November.
This split is meant to make it easier for investors to understand and invest in each part of the business separately.
Tata Motors Passenger Vehicles (TMPV) to announce its first quarterly earnings as a separate entity on November 14, 2025.
TMPV now encompasses passenger vehicles, EVs, and Jaguar Land Rover (JLR) businesses following the demerger.
In Q1FY26, JLR revenue decreased by 9.2% to £6.6 billion, and domestic PV revenue fell 8.2% to ₹10,877 crore.
The Tata Motors demerger officially created two listed entities: TMPV and Tata Motors Commercial Vehicles Ltd (now Tata Motors Ltd).
The commercial vehicles arm is expected to be listed in November 2025, with shareholders receiving one share of the CV arm for every share held.
- Who
- Tata Motors Passenger Vehicles Ltd (TMPV), formerly Tata Motors Limited, and Tata Motors Commercial Vehicles Ltd, now renamed Tata Motors Ltd.
- What
- TMPV will announce its first quarterly earnings as an independent entity for Q2FY26. The Tata Motors demerger has officially split the company into two listed entities: TMPV (housing passenger vehicles, EV, and JLR) and the commercial vehicles arm.
- When
- The TMPV board meeting to approve Q2FY26 results is scheduled for November 14, 2025. The demerger was effective October 1, 2025, and the commercial vehicles arm is expected to list in November 2025.
- Where
- India
- Why
- To enhance value discovery and allow for sector-specific investor participation by creating distinct listed entities for passenger and commercial vehicle businesses.
Impact on JLR
Impact on Domestic PV
Revenue and Profitability
Impact on JLR
JLR revenue fell 9.2% to £6.6 billion in Q1FY26, with PBT down 49.4% to £351 million and EBIT margin at 4.0%, due to higher US tariffs on UK/EU exports and planned wind-down of old Jaguar models.
Impact on Domestic PV
Domestic passenger vehicles segment revenue decreased 8.2% to ₹10,877 crore in Q1FY26 due to lower volumes. EBIT margins declined 310 basis points YoY to 2.8%, and PBT was a loss of ₹129 crore, impacted by volumes, realizations, and leverage effects, partially offset by cost savings.
- Demerger Effective Date
- October 1, 2025
- TMPV Board Meeting Date
- November 14, 2025
- Q2FY26 Period End Date
- September 30, 2025
- Trading Window Closure
- September 24, 2025, until 48 hours after earnings release
- JLR Q1FY26 Revenue
- £6.6 billion (down 9.2%)
- JLR Q1FY26 PBT
- £351 million (down 49.4%)
- Domestic PV Q1FY26 Revenue
- ₹10,877 crore (down 8.2%)
- Domestic PV Q1FY26 PBT
- Loss of ₹129 crore
