Tata Technologies Limited has released the transcript of its conference call concerning the unaudited financial results for the quarter and nine months ended December 31, 2025. The call was conducted following a Board of Directors meeting on January 16, 2026. The transcript is available on the company's website, www.tatatechnologies.com.

During the call, CEO and Managing Director Warren Harris highlighted a sequential revenue growth of 3.2% in Indian rupees for Q3 FY26, driven by a 4.7% increase in the Services business. Despite headwinds such as fewer billing days due to holidays and a temporary disruption at a major customer following a cybersecurity incident, the company achieved growth. The Aerospace and IHM verticals saw 10% QoQ revenue growth in USD terms, and the Products business within Technology Solutions grew by 30% sequentially. The company secured six large deals across automotive, industrial, software-led engineering, and education sectors.

EBITDA margin for the quarter was 14.1%, impacted by annual wage revisions and the customer disruption. The company anticipates stronger momentum in Q4 FY26, expecting sequential revenue growth exceeding 10% and improved EBITDA margins. Significant operational milestones included the completion of an enterprise modernization program for an Asian automotive customer and the deployment of an AI-enabled Smart Helmet solution in Aerospace.

The joint venture with BMW has grown to over 1,500 engineers, with Tata Technologies' share of profit increasing by 37% sequentially. The company is strategically strengthening its revenue base by reducing concentration risk and improving its portfolio mix, with a growing share of revenue linked to Embedded, SDV, and validation-led engineering.

Financially, revenues from operations grew 3.2% sequentially to ₹1,366 crores in Q3 FY26, including one month of contribution from the ES-TEC acquisition. Services segment revenue was ₹1,060 crores, up 4.7% QoQ. Technology Solutions segment delivered ₹306 crores, with a 30% growth in the products business. EBITDA margin was 14.1%, impacted by wage hikes and customer disruption, with expectations to exceed the Q2 margin run-rate in Q4. Exceptional one-time expenses of ₹164 crores were recorded, primarily for employee benefits under new labor legislation and acquisition costs for ES-TEC.

Looking ahead, Tata Technologies is targeting double-digit growth in FY27, with organic growth expected to be strong. The company's Aerospace business is emerging as a significant growth pillar, with revenues expected to reach close to $40 million in FY26. The company is also exploring opportunities in defense spending and industrial automation.