Tata Motors Limited has released the transcript of their earnings discussion/conference call conducted on January 29, 2026, following the Board of Directors meeting. The call focused on the Audited Standalone Financial Results and Unaudited Consolidated Financial Results for the third quarter ended December 31, 2025. During the quarter, the company reported several exceptional items impacting financials. These include ₹603 crore due to the new labor code, ₹960 crore for demerger costs, and ₹82 crore for acquisition costs related to the IVECO acquisition. The total impact of these exceptional items was ₹1,500 crore on standalone financials and ₹1,600 crore on consolidated financials. The company highlighted the progress of the Iveco acquisition, with regulatory approvals anticipated by the end of March and finalization expected by Q1 FY'27. Tata Motors also launched 17 new next-generation trucks, including electric trucks developed on an Intelligent Modular Electric Vehicle architecture. Notable business updates include the introduction of the Prima 3540.K tipper, showcasing the new Euro 6 range, and partnerships to strengthen the LNG trucking ecosystem. For Q3 FY26, wholesale volumes reached 116.8K units, a 20% year-on-year increase, with all product lines showing growth. Revenue for the quarter stood at ₹21,533 crore, a 17% year-on-year increase. EBITDA margin rose by 30 basis points to 10.6% for the CV segment, marking its first double-digit EBIT margin. Profit before tax and exceptional items increased to ₹2,300 crore. Free cash flow was strong at approximately ₹4,800 crore, and net cash stood at ₹3,900 crore as of December 2025. Year-to-date, revenue reached approximately ₹57,000 crore (a 6% Y-o-Y increase), with EBITDA margins improving to 12.4% and EBIT margins to 10.1%. YTD free cash flow was around ₹5,200 crore. The company also addressed commodity inflation, stating a 1% price increase implemented from January 1, 2026, to mitigate the impact of precious group metals and copper prices. Management expressed confidence in continued growth and strong financial performance for Q4 and the upcoming year.
