Tata Motors Q3 Results 2026 LIVE: Tata Motors Commercial Vehicles (Tata Motors) is scheduled to announce its December quarter (Q3FY26) results on Thursday, January 29, marking its second set of earnings since the demerger. Expectations are upbeat, with brokerages penciling in a strong performance led by sharp volume growth in the standalone commercial vehicle (CV) business, operating leverage benefits and margin expansion.
Analysts largely expect double-digit sequential growth across revenue, Ebitda and profit for the quarter, reflecting an improvement in demand conditions and cost efficiencies.
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Motilal Oswal highlighted the strength in India’s CV market during the quarter, supported by GST cuts and a favorable base. “Commercial vehicle volumes rose 21% year-on-year, with MHCV volumes growing 24% YoY compared with 18% YoY growth in LCVs,” the brokerage said. The faster growth in medium and heavy trucks points to a recovery in construction, mining and infrastructure activity.
On the financial front, the brokerage expects Tata Motors’ operating margin to expand by 100 basis points year-on-year to 13.2%, driven by operating leverage. Revenue is estimated at ₹20,798.8 crore, up 23.4% quarter-on-quarter, while EBITDA is projected to rise 32.1% QoQ to ₹Rs 2,751.8 crore. Profit after tax is seen increasing 37% QoQ to ₹₹1,842.4 crore.
Operationally, Tata Motors recorded double-digit sales growth in Q3FY26, aided by a post-monsoon rebound in construction and mining activity, along with steady demand from core industries and auto logistics.
Ahead of the results, Tata Motors’ shares hit a fresh high of ₹460.20 on Wednesday, rising 4% intraday on the BSE. The stock has climbed 40% since its listing, up from ₹327.65 on November 12, 2025.
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