Tata Motors Passenger Vehicles

TMPV.BO

Auto - Manufacturers · Consumer Cyclical

Exchange

Bombay Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Good

Dividends

Good

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Winston Score History

The full picture

Tata Motors Passenger Vehicles is the car-making division of Tata Motors, one of India's largest automakers. It sells passenger cars and SUVs — including popular models like the Nexon, Punch, and Harrier — primarily to everyday consumers in India. The company also owns the Jaguar Land Rover brand, which sells premium and luxury vehicles to wealthier buyers around the world.

The company earns money by selling vehicles directly to customers through dealerships, with additional revenue from financing, spare parts, and services. It operates mainly in India but has a global footprint through Jaguar Land Rover's presence in Europe, North America, and China. Tata has built a strong position in India's fast-growing electric vehicle market, with the Nexon EV among the country's top-selling electric cars. However, the thin operating margin of around 1% shows how much pressure the business faces from rising input costs, heavy investment in electrification, and intense competition from both domestic rivals and global automakers entering India.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-31.7% YoY

YoY Growth Rate

Earnings declining

Insider Activity

46.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

₹0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Tata Motors Passenger Vehicles's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

27.7%

Modest — 27.7% gross margin

Profit after running costs

Operating Margin

1.5%

Thin — 1.5% operating margin

Return on the money invested

ROCE

-13.9%

Weak — -13.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-22.1%

Shrinking sales (-22.1% YoY)

Profit growth

EPS YoY

+269.8%

Earnings growing fast (+269.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

-2%

Weak — only -2% of profit becomes cash

Spare cash per sale

FCF Margin

-2.4%

Burning cash (-2.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.62

Moderate — manageable debt (0.62)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

1.5x

no trend

Attractive valuation — P/E 1.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-4.9

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

0.92%

no trend

Small dividend — 0.92% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+107.3%

no trend

Dividend growing fast (107.3% YoY)

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