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Tata Motors' Commercial Vehicles (CV) segment delivered a strong Q3. Wholesales grew 20% YoY to 116.8K units, fueled by GST2.0 and festive demand across all categories, notably Passenger Carriers up 70% and Exports up 15%. Domestic market share reached 35.5%.
The company reported Q3 revenue up 17% YoY to ₹21,500 Cr, with EBITDA margin at 12.7% (+30 bps YoY) and PBT (before exceptional items) at ₹2,300 Cr (+36% YoY). Free Cash Flow was robust at ₹4,752 Cr, enhancing the net cash position to ₹3,900 Cr. Consolidated figures also impressed with revenue at ₹21,800 Cr (+16% YoY) and PBT (before exceptional items) at ₹2,600 Cr (+65% YoY), boosting consolidated net cash to ₹6,100 Cr.
Recent developments include launching 17 Next-Gen Trucks, India's widest electric truck range (Tata Trucks.ev), and a partnership for LNG trucking. Over 3,600 e-buses are deployed, running 47 Cr Kms with >95% uptime. Management expects Q4 demand to strengthen from government infrastructure push and aims for sustained financial performance.