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Tata Chemicals Q3 Results: Consolidated PAT Slips to Loss; ₹515 Cr Salt Plant Investment Approved
Tata Chemicals reported a weak consolidated performance for Q3FY26, with revenue dipping 1% YoY to ₹3,550 crore and EBITDA falling 20.5% to ₹345 crore due to global soda ash oversupply. The company posted a consolidated loss of ₹15 crore (before exceptional items) compared to a profit of ₹49 crore in the previous year. Despite global headwinds, the standalone India business showed resilience with a 21% growth in PAT before exceptional items. To drive future growth, the Board approved a ₹515 crore greenfield investment for a 210 KTPA salt facility in Tamil Nadu.
Key Highlights
Consolidated EBITDA declined to ₹345 Cr from ₹434 Cr YoY due to pricing pressure in export markets, especially Southeast Asia.
Standalone PAT (before exceptional items) rose 21% to ₹87 Cr, supported by higher volumes and disciplined cost management.
Board approved ₹515 Cr investment for a 210 KTPA greenfield Iodised Vacuum Salt facility in Tamil Nadu.
Net debt stood at ₹5,596 Cr as of December 31, 2025, excluding lease liabilities of ₹772 Cr.
Exceptional charge of ₹54 Cr (consolidated) and ₹14 Cr (standalone) provided for the new labour code.
💼 Action for Investors
Investors should exercise caution as the global soda ash market remains oversupplied with limited near-term visibility on price recovery. While the standalone India business is resilient, the consolidated performance remains under pressure from international pricing dynamics.
Tata Chemicals Q3 FY26 Net Loss Widens to ₹69 Crore as Revenue Declines to ₹3,550 Crore
Tata Chemicals reported a consolidated net loss of ₹69 crore for Q3 FY26, widening from a loss of ₹21 crore in the same quarter last year. Revenue from operations saw a marginal decline of 1.1% YoY to ₹3,550 crore, while falling 8.4% on a sequential basis. The bottom line was impacted by higher raw material and freight costs, alongside an exceptional loss of ₹54 crore. However, a significant fair value gain on equity investments led to a positive total comprehensive income of ₹884 crore for the period.
Key Highlights
Revenue from operations fell to ₹3,550 crore from ₹3,590 crore in the year-ago period.
Net loss attributable to equity shareholders widened to ₹93 crore from ₹53 crore YoY.
Freight and forwarding expenses rose 18.9% YoY to ₹767 crore.
Power and fuel costs dropped significantly to ₹444 crore from ₹690 crore YoY, providing some relief.
EPS for the quarter stood at negative ₹3.65 compared to negative ₹2.08 in Q3 FY25.
💼 Action for Investors
The widening operational loss and rising logistics costs are concerning; investors should wait for signs of margin stabilization in the chemical segment. Monitor global soda ash pricing and demand trends closely as they remain the primary drivers for the company's recovery.
Tata Consumer Q3 FY26: Revenue Crosses ₹5,000 Cr Milestone with 26% EBITDA Growth
Tata Consumer Products Limited reported a strong Q3 FY26, with consolidated revenue growing 15% YoY to ₹5,112 crores, surpassing the ₹5,000 crore quarterly milestone. EBITDA margins expanded by 120 bps YoY to 14.2%, driven by moderating tea prices and strong performance in India Foods. The company's 'Growth Businesses' (Sampann, RTD, etc.) now account for 30% of India revenue, growing at 29% YoY. Additionally, the company is nearing 100% completion of its Go-To-Market restructuring to enhance distribution focus.
Key Highlights
Consolidated Revenue grew 15% YoY to ₹5,112 crores; EBITDA increased 26% to ₹728 crores.
India Branded business delivered 15% underlying volume growth, with Salt volume up 15%.
Tata Sampann recorded a robust 45% growth, while the Ready-to-Drink (RTD) segment grew 26% YoY.
International business saw 11% constant currency growth, led by a 31% revenue surge in US Coffee.
Tata Starbucks achieved 3% same-store sales growth (SSSG) and expanded its footprint to 504 stores.
💼 Action for Investors
Investors should maintain a positive outlook as the company successfully scales its high-margin 'Growth Businesses' and improves operational efficiency through GTM restructuring. The recovery in tea margins and strong volume growth in the salt and foods segments provide a solid foundation for near-term earnings growth.
Tata Consumer Q3FY26 Revenue Up 15% to ₹5,112 Cr; Net Profit Surges 36% YoY
Tata Consumer Products reported a strong Q3FY26 with consolidated revenue growing 15% YoY to ₹5,112 crore, driven by robust performance in India Foods and International segments. EBITDA margins expanded by 120 bps to 14.2%, resulting in a 36% jump in Group Net Profit to ₹385 crore. The 'Growth' businesses, including Tata Sampann and RTD, crossed the ₹1,000 crore quarterly revenue milestone with a 29% YoY increase. While the salt business saw 15% volume growth, the tea segment remained modest with 3% growth amid stable input costs.
Key Highlights
Consolidated EBITDA grew 26% YoY to ₹728 crore with margins expanding 120 bps to 14.2%
India Foods segment revenue rose 19% YoY, led by a 45% surge in Tata Sampann sales
Salt business delivered 14% revenue growth on the back of 15% volume growth
International business revenue grew 18% YoY, supported by strong US Coffee performance
Ready-to-Drink (RTD) portfolio maintained momentum with 26% revenue and 27% volume growth
💼 Action for Investors
Investors should focus on the successful scaling of 'Growth' businesses and margin expansion as the company diversifies beyond tea. The stock remains a strong play on the Indian FMCG premiumization and distribution expansion story.
Tata Consumer Q3 Net Profit Jumps 36% to Rs 385 Cr; Revenue Up 15% on Strong Volumes
Tata Consumer Products reported a strong Q3 FY26 with a 36% YoY increase in net profit to Rs 385 crores and a 15% rise in revenue to Rs 5,112 crores. The performance was driven by 15% volume growth in the India Branded business and a robust 29% growth in its emerging 'Growth' businesses. EBITDA margins improved significantly, growing 26% YoY to Rs 728 crores, aided by lower input costs in the tea segment. The company also reached a major milestone with Tata Starbucks crossing the 500-store mark during the quarter.
Key Highlights
Revenue from operations grew 15% YoY to Rs 5,112 Crores with 15% India Branded volume growth.
Consolidated EBITDA rose 26% to Rs 728 Crores, while Group Net Profit surged 36% to Rs 385 Crores.
Tata Sampann recorded 45% growth, and the Ready-to-Drink (RTD) segment grew 26%.
India Coffee business revenue increased by 40%, and Salt revenue grew 14% with strong volumes.
Tata Starbucks reached a milestone of 504 stores across 81 cities after adding 12 new stores.
💼 Action for Investors
Investors should view this as a strong performance indicating successful premiumization and expansion into high-growth categories like RTD and Sampann. The stock remains a solid long-term play in the FMCG sector given the margin expansion and volume-led growth.
Tata Consumer Explores Sale of Property and Stake in Subsidiary TRIL Constructions Limited
Tata Consumer Products Limited (TCPL) has announced that its Board is exploring the potential sale of property held by its subsidiary, TRIL Constructions Limited (TRILC). The proposal also includes the possibility of selling TCPL's entire shareholding in TRILC to monetize assets. Currently, the process is in an exploratory stage, and no definitive agreements have been signed as of January 27, 2026. This move aligns with a strategy to potentially streamline the portfolio and unlock value from non-core assets.
Key Highlights
Board discussed potential sale of property held by subsidiary TRIL Constructions Limited
Proposal includes the potential sale of the Company's entire shareholding in TRILC
No definitive agreement has been executed as of the announcement date January 27, 2026
The proposal is currently exploratory in nature with further disclosures expected upon finalization
💼 Action for Investors
Investors should monitor future updates regarding the valuation and execution of this sale, as it could result in a one-time cash infusion. This divestment may signal a focus on core FMCG operations by exiting construction-related holdings.
Tata Consumer Q3 Standalone Revenue Up 15% to ₹3,684 Cr; Operating Margins Expand to 11.5%
Tata Consumer Products reported a robust 15% YoY growth in standalone revenue for Q3 FY26, reaching ₹3,684 crore, driven by strong performance in both branded and non-branded segments. Although standalone net profit decreased to ₹320.6 crore from ₹569.8 crore YoY, this was primarily due to a high base effect from a ₹390 crore dividend received from subsidiaries in the previous year's quarter. Operating efficiency improved significantly, with margins rising to 11.52% from 8.49% YoY, supported by tapering tea cost inflation. The company maintains a very healthy balance sheet with a debt-equity ratio of 0.05.
Key Highlights
Standalone Revenue from operations grew 15% YoY to ₹3,684.02 crore for the quarter ended December 31, 2025.
Operating margins improved to 11.52% from 8.49% YoY, reflecting better cost management and lower tea inflation.
Standalone Net Profit of ₹320.64 crore was impacted by the absence of a ₹390 crore one-time dividend income present in the base year.
Exceptional items for the quarter included a ₹35 crore profit from non-core asset sales, offset by a ₹17 crore provision for new labour codes.
Interest Service Coverage Ratio remains strong at 21.05, indicating high financial stability.
💼 Action for Investors
Investors should look past the optical decline in net profit, which was caused by a one-time dividend in the previous year, and focus on the strong 15% revenue growth and expanding operating margins. The company's core business performance remains healthy, making it a solid long-term FMCG pick.
Tata Consumer Q3 Standalone Revenue Up 15% to ₹3,684 Cr; Operating Margins Improve to 11.5%
Tata Consumer Products reported a 15% YoY growth in standalone revenue for Q3 FY26, reaching ₹3,684 crore, driven by strong performance in both branded and non-branded segments. While standalone net profit fell to ₹321 crore from ₹570 crore YoY, this was primarily due to a high base effect from a ₹390 crore dividend received from subsidiaries in the previous year. Operating margins showed healthy improvement, rising to 11.52% from 8.49% YoY, aided by lower tea cost inflation. The company also accounted for a ₹17 crore impact from new labor codes, offset by a ₹35 crore gain from selling non-core assets.
Key Highlights
Standalone Revenue from Operations grew 15% YoY to ₹3,684.02 crore.
Operating Margin improved significantly to 11.52% compared to 8.49% in the same quarter last year.
Standalone Net Profit stood at ₹320.64 crore, impacted by the absence of a one-time ₹390 crore subsidiary dividend seen in Q3 FY25.
Exceptional gain of ₹18.43 crore recorded, including a ₹35 crore profit from non-core asset sales.
Debt-Equity ratio remains very low at 0.05, indicating a strong balance sheet.
💼 Action for Investors
Investors should look past the YoY profit decline, which is purely due to accounting base effects, and focus on the robust 15% revenue growth and margin expansion. The stock remains a solid play in the FMCG sector with improving efficiency in the tea business.
CreditAccess Grameen Q3 FY26: PAT Doubles QoQ to ₹252 Cr as Asset Quality Normalizes
CreditAccess Grameen reported a strong recovery in Q3 FY26, with PAT doubling sequentially to INR 252 crore and NIM expanding by 60 bps to 13.9%. Asset quality showed significant improvement as monthly PAR 15+ accretion dropped sharply to 18 bps in December from 47 bps in September. The company maintained robust growth with disbursements of INR 5,767 crore and a 13.4% YoY increase in Net Interest Income. Management highlighted the successful implementation of MFIN guardrails, which significantly reduced exposure to highly indebted borrowers.
Key Highlights
PAT doubled QoQ to INR 252 crore, translating to an ROA of 3.5% and ROE of 13.8%.
Asset quality improved significantly with X bucket collection efficiency at 99.71% and PAR 15+ accretion falling to 18 bps in December.
Net Interest Margin (NIM) expanded by 60 bps QoQ to 13.9%, aided by a 26 bps reduction in average cost of borrowings to 9.4%.
Retail finance portfolio share increased to 14.1% of AUM, up from 11.1% in the previous quarter.
Exposure to borrowers with more than 3 lenders dropped to 4.9% in December 2025 from 25.3% in August 2024.
💼 Action for Investors
Investors should note the sharp decline in PAR accretion and the normalization of the Karnataka market as strong indicators of a turnaround. The company's ability to lower borrowing costs and diversify into retail finance provides a positive outlook for long-term profitability.
Tata Capital Q3 FY26 PAT Rises 39% YoY to ₹1,285 Cr; AUM Grows 26% to ₹2.34 Lakh Cr
Tata Capital reported a strong Q3 FY26 with consolidated AUM reaching ₹2.61 lakh crores, driven by robust retail and SME demand. Excluding the Motor Finance merger impact, PAT grew 39% YoY to ₹1,285 crores, supported by a 26% growth in AUM and improving asset quality. The company benefited from a 14 bps reduction in cost of funds and maintained a stable Net NPA of 0.6%. Management remains optimistic about achieving 18-20% AUM growth for the full year while expanding the high-yield unsecured retail segment.
Key Highlights
AUM (excluding Motor Finance) grew 26% YoY to ₹2.34 lakh crores, with retail and SME segments comprising 87% of total AUM.
Net Profit After Tax (excluding Motor Finance) increased 39% YoY to ₹1,285 crores, with RoA improving to 2.3%.
Asset quality remained stable with Net NPA at 0.6% and credit costs declining 10 bps QoQ to 1.0%.
Cost of funds decreased by 14 bps to 7.2%, while NIM improved to 6.6% aided by IPO proceeds and lower borrowing costs.
Capital adequacy remains strong at 20.3% with a significantly reduced debt-to-equity ratio of 5.1x.
💼 Action for Investors
Investors should view the strong AUM growth and improving margins as a positive sign of execution post-merger. The focus on high-yield unsecured retail and declining credit costs suggests a healthy trajectory for return ratios.
Tata Communications Q3 FY26 PAT Jumps 99% QoQ to ₹364 Cr; Revenue Up 6.7% YoY
Tata Communications reported a strong sequential recovery in Q3 FY26, with consolidated profit after tax (PAT) nearly doubling to ₹364.23 crore from ₹183.21 crore in the previous quarter. Revenue from operations grew 6.7% year-on-year to ₹6,188.97 crore, led by the core Data Services segment which contributed ₹5,379.81 crore. The company managed a significant profit increase despite booking ₹76.78 crore in exceptional charges related to staff optimization and new Indian Labour Code provisions. Operational efficiency improved as profit before exceptional items rose to ₹534.69 crore compared to ₹275.64 crore in Q2 FY26.
Key Highlights
Consolidated revenue from operations increased 6.7% YoY to ₹6,188.97 crore.
Net Profit (PAT) surged 98.8% sequentially to ₹364.23 crore from ₹183.21 crore in Q2 FY26.
Data Services revenue grew to ₹5,379.81 crore, representing approximately 87% of total income.
Exceptional items included a ₹60.98 crore provision for the implementation of new Government of India Labour Codes.
Basic Earnings Per Share (EPS) for the quarter rose to ₹12.82 from ₹6.42 in the preceding quarter.
💼 Action for Investors
Investors should take note of the sharp recovery in margins and the steady growth in the high-margin Data Services segment. While the DoT demand notices remain a contingent liability, the strong operational performance suggests a positive outlook for the core business.
Tata Communications Appoints Ganesh Lakshminarayanan as MD & CEO (Designate)
Tata Communications has selected Mr. Ganesh Lakshminarayanan as the MD & CEO (Designate) to succeed the retiring A. S. Lakshminarayanan on April 13, 2026. Mr. Lakshminarayanan brings over 30 years of experience, notably leading Airtel Business to 50% growth over three years and increasing its market share from 30% to 33%. His background includes leadership roles at ServiceNow India and Dell India, where he scaled operations to 15,000 employees. The appointment is subject to regulatory approvals and signals a continued focus on AI and digital transformation.
Key Highlights
Mr. Ganesh Lakshminarayanan selected as MD & CEO (Designate) effective upon regulatory approvals.
Current MD & CEO A. S. Lakshminarayanan to retire on April 13, 2026, ensuring a clear succession timeline.
Appointee previously achieved 50% growth over 3 years and increased market share to 33% at Airtel Business.
Extensive experience in scaling operations, including growing Dell India's workforce to 15,000 employees.
Strong background in AI and digital transformation from recent leadership at ServiceNow India.
💼 Action for Investors
Investors should view this as a positive leadership transition given the appointee's proven track record in the Indian enterprise and telecom sectors. No immediate action is required, but monitor the transition process leading up to April 2026.
CreditAccess Grameen Q3 FY26 PAT Doubles QoQ to ₹252 Cr; 9.12 Lakh ESOPs Granted
CreditAccess Grameen reported a significant sequential recovery with Net Profit (PAT) doubling to ₹252.09 crore in Q3 FY26, up from ₹125.81 crore in Q2 FY26. While year-on-year PAT declined by 42.5% from ₹438.09 crore, the sharp reduction in impairment costs from ₹525.67 crore in the previous quarter to ₹342.57 crore indicates improving asset quality. Total revenue from operations grew 8% YoY to ₹1,490.41 crore. Additionally, the board approved the grant of 9,12,500 stock options to employees at an exercise price of ₹1,344.97.
Key Highlights
Net Profit (PAT) surged 100.4% quarter-on-quarter to ₹252.09 crore.
Impairment on financial instruments (provisions) decreased by 34.8% QoQ to ₹342.57 crore.
Total revenue from operations stood at ₹1,490.41 crore, an 8% increase over Q3 FY25.
Board approved 9,12,500 ESOPs at an exercise price of ₹1,344.97 per share.
Basic EPS improved significantly to ₹15.76 from ₹7.87 in the preceding quarter.
💼 Action for Investors
The strong sequential rebound in profitability and cooling credit costs suggest the worst of the asset quality stress may be subsiding. Investors should maintain a watch on the collection efficiency and the long-term impact of the newly notified Labour Codes on operating expenses.
CreditAccess Grameen Q3 PAT Surges 153% YoY to ₹252 Cr; Asset Quality Improves
CreditAccess Grameen reported a strong recovery in Q3 FY26 with PAT doubling sequentially to INR 252.1 crore, driven by a 54.4% YoY reduction in credit costs. Asset quality showed significant improvement as PAR 0+ dropped to 4.4% and collection efficiency rose to 95.5% in December 2025. The company's AUM grew 7.1% YoY to INR 26,566 crore, supported by a 13.4% increase in disbursements. Management highlighted a sharp decline in new PAR accretion, particularly in Karnataka, signaling a return to historical stability.
Key Highlights
PAT surged 153.3% YoY and 100.4% QoQ to INR 252.1 crore, with RoA improving to 3.5%
Asset quality improved with PAR 0+ at 4.4% vs 4.7% QoQ and GNPA/NNPA at 4.04%/1.36%
AUM reached INR 26,566 crore (up 7.1% YoY) with disbursements growing 13.4% YoY to INR 5,767 crore
Added 2.06 lakh new borrowers in Q3, with 39% being New-to-Credit (NTC)
Strong capital position with CRAR at 26.4% and liquidity of INR 2,397.4 crore
💼 Action for Investors
Investors should view the sharp recovery in profitability and stabilizing asset quality as a positive sign of the MFI cycle bottoming out. Monitor the sustainability of collection efficiency and credit cost reductions in the upcoming quarters.
CreditAccess Grameen Q3 FY26: Adjusted PAT at ₹266 Cr; Asset Quality Normalizes
CreditAccess Grameen reported a Gross Loan Portfolio (GLP) of ₹26,566 crore for Q3 FY26, a 7.1% YoY increase, driven by robust disbursements of ₹5,767 crore. The company demonstrated a strong recovery in asset quality, with monthly PAR 15+ accretion dropping to 0.18% in December 2025 from 0.47% in September. Adjusted PAT reached ₹266 crore, while credit costs continued their downward trajectory to ₹343 crore. The firm has successfully aligned with MFI guardrails, significantly reducing exposure to over-leveraged borrowers.
Key Highlights
Gross Loan Portfolio (GLP) reached ₹26,566 crore, up 7.1% YoY, with Retail Finance share increasing to 14.1%.
Monthly PAR 15+ accretion improved significantly to 0.18% in Dec-25 compared to 0.47% in Sep-25.
Quarterly credit costs declined to ₹343 crore from ₹526 crore in Q2 FY26, marking a normalization trend.
Adjusted Return on Assets (ROA) stood at 3.7% and Adjusted Return on Equity (ROE) at 14.6% for the quarter.
Exposure to borrowers with >3 lenders reduced drastically to 4.9% of GLP from 25.3% in August 2024.
💼 Action for Investors
The significant reduction in incremental stress (PAR accretion) and credit costs indicates a turnaround in operational performance. Investors may view this as a positive signal for earnings stability heading into FY27.
CreditAccess Grameen Q3 FY26 PAT Doubles Sequentially to ₹252 Cr; Impairments Decline
CreditAccess Grameen reported a strong recovery in Q3 FY26 with a Standalone Profit After Tax (PAT) of ₹252.09 crore, a significant jump from ₹125.81 crore in the previous quarter. This performance marks a major turnaround from the ₹99.52 crore loss reported in the same quarter last year. The improvement is primarily attributed to a sharp reduction in impairment costs, which fell to ₹342.57 crore from ₹525.67 crore in Q2 FY26. Additionally, the board approved the grant of 9,12,500 stock options to employees at an exercise price of ₹1,344.97.
Key Highlights
Net Profit for Q3 FY26 reached ₹252.09 crore, up 100.3% from ₹125.81 crore in Q2 FY26.
Impairment on financial instruments decreased significantly to ₹342.57 crore compared to ₹525.67 crore in the previous quarter.
Total Income for the quarter stood at ₹1,491.31 crore, maintaining stability despite a slight sequential dip from ₹1,509.02 crore.
Basic Earnings Per Share (EPS) improved to ₹15.76 for the quarter, doubling from ₹7.87 in Q2 FY26.
Board approved 9,12,500 ESOPs at an exercise price of ₹1,344.97, with a 4-year vesting schedule.
💼 Action for Investors
The significant reduction in credit costs and the sequential doubling of profits suggest a recovery in asset quality; investors should maintain a positive outlook while monitoring the sustainability of lower impairment levels.
Tata Capital Q3 FY26 Net Profit Rises 10% to ₹790 Crore; Capital Adequacy Strengthens to 20.26%
Tata Capital Limited reported a steady performance for Q3 FY26 with a standalone net profit of ₹789.86 crore, a 10% increase from ₹718.76 crore in the same period last year. Total revenue from operations grew by 7.7% YoY to ₹5,783.28 crore. While asset quality saw a slight dip with Gross NPA rising to 2.90% from 2.29% YoY, the company's Capital Adequacy Ratio improved significantly to 20.26%. The company also reported nil deviation in the utilization of proceeds from its IPO and NCD issuances.
Key Highlights
Standalone Net Profit for Q3 FY26 grew 10% YoY to ₹789.86 crore.
Total Revenue from operations increased to ₹5,783.28 crore from ₹5,367.74 crore in Q3 FY25.
Capital Adequacy Ratio (CAR) improved to 20.26% compared to 16.26% in the previous year.
Gross NPA stood at 2.90% and Net NPA at 1.37%, showing a slight uptick in bad loans YoY.
Net Worth reached ₹37,359.37 crore as of December 31, 2025, following the Tata Motors Finance merger.
💼 Action for Investors
Investors should focus on the company's improving capital base and revenue growth post-merger with Tata Motors Finance. While there is a slight increase in NPAs, the strong capital adequacy provides a significant buffer for future expansion.
Tata Capital Q3FY26: PAT Jumps 39% YoY to ₹1,285 Cr; Net AUM Reaches ₹2.6 Lakh Cr
Tata Capital reported a robust performance for Q3FY26, with Profit After Tax (excluding Motor Finance) growing 39% YoY to ₹1,285 crore. The total Net AUM, including the recently merged Motor Finance business, reached ₹2,60,698 crore, marking a 7% QoQ increase. Asset quality remained stable with GNPA at 1.6% for the core business, while the consolidated cost of funds improved by 23bps to 7.2%. The company maintains a diversified, retail-heavy book with Retail and SME segments constituting 87% of the total AUM.
Key Highlights
Net AUM grew 26% YoY to ₹2,34,114 Cr (excluding Motor Finance) and reached ₹2,60,698 Cr on a consolidated basis.
Profit After Tax (PAT) surged 39% YoY to ₹1,285 Cr with an improved Return on Assets (ROA) of 2.3%.
Asset quality remains strong with GNPA at 1.6% and NNPA at 0.6% for the core lending business.
Consolidated cost of funds declined by 23bps QoQ to 7.2%, reflecting efficient liability management.
Retail and SME segments now represent 87% of the total portfolio, with unsecured retail loans at a controlled 10.4%.
💼 Action for Investors
Investors should take note of the strong double-digit growth in AUM and PAT alongside improving ROA and ROE metrics. The successful integration of the Motor Finance business and stable asset quality suggest a positive outlook for this Tata Group NBFC.
Tata Capital Q3FY26: Consolidated PAT Up 18% QoQ to ₹1,290 Cr; Motor Finance Hits Breakeven
Tata Capital reported a strong Q3FY26 with consolidated Assets Under Management (AUM) growing 7% QoQ to ₹2,60,698 crore. Consolidated PAT (excluding non-recurring items) rose 18% QoQ to ₹1,290 crore, significantly supported by the Motor Finance segment reaching profitability breakeven. The core business, excluding Motor Finance, showed robust momentum with 26% YoY AUM growth and 39% YoY PAT growth. Asset quality remains manageable with a consolidated Net Stage 3 ratio of 1.0% and a high capital adequacy of 20.3%.
Key Highlights
Consolidated AUM reached ₹2,60,698 crore, up 7% QoQ, with Retail and SME making up 87% of the portfolio.
Consolidated PAT (excl. non-recurring items) grew 18% QoQ to ₹1,290 crore as Motor Finance achieved breakeven.
Excluding Motor Finance, PAT surged 39% YoY to ₹1,285 crore with a healthy ROA of 2.3%.
Housing Finance subsidiary (TCHFL) reported 30% YoY AUM growth to ₹81,585 crore and 25% YoY PAT growth.
Capital Adequacy Ratio remains strong at 20.3% with a Pan-India network of 1,505 branches.
💼 Action for Investors
The results demonstrate strong execution in core segments and a successful integration/turnaround of the Motor Finance business. Investors should monitor the continued stabilization of asset quality in the Motor Finance book and the scaling of the high-growth housing finance segment.
Tata Capital Q3 PAT Rises 10% YoY to ₹790 Crore; Revenue Hits ₹5,783 Crore
Tata Capital reported a steady performance for Q3 FY26 with standalone Profit After Tax (PAT) growing 9.9% YoY to ₹789.86 crore. Total revenue from operations increased to ₹5,783.28 crore, supported by the successful integration of Tata Motors Finance Limited. While profitability remains healthy, asset quality saw a slight decline with Gross NPA rising to 2.90% from 2.29% YoY. The company's capital position remains strong with a Capital Adequacy Ratio of 20.26% and a net worth of ₹37,359 crore.
Key Highlights
Standalone Profit After Tax (PAT) increased to ₹789.86 crore in Q3 FY26 from ₹718.76 crore in Q3 FY25.
Total Revenue from operations grew to ₹5,783.28 crore compared to ₹5,367.74 crore in the previous year's corresponding quarter.
Gross NPA stood at 2.90% and Net NPA at 1.37%, reflecting a year-on-year increase in stressed assets.
Capital Adequacy Ratio (CAR) remains robust at 20.26% as of December 31, 2025.
Net worth significantly strengthened to ₹37,359.37 crore following the amalgamation of Tata Motors Finance Limited.
💼 Action for Investors
Investors should focus on the company's ability to manage asset quality post-merger, as NPAs have shown an upward trend. The strong capital adequacy and backing of the Tata Group continue to make it a stable long-term financial play.