Tata Motors Passenger Vehicles Ltd (TMPVL) shares will be in focus on Monday, 16 November, after the automaker reported its September quarter results, with a sharp increase in revenue and a narrowing of operational pressures but a substantial consolidated loss due to exceptional charges.
The stock has declined nearly 22% so far in 2026, raising the question of whether the recent correction offers investors an opportunity to accumulate the auto stock. However, brokerages remain divided on its prospects, with Motilal Oswal Financial Services reiterating its 'Sell' rating and setting a target price of ₹240, while Nuvama Institutional Equities has maintained its 'Buy' rating, albeit with a reduced target price of ₹360 from ₹450.
TMPVL reported a consolidated net loss of ₹5,531 crore for Q2 FY27, compared with a profit of ₹76,170 crore in the corresponding quarter last year. The loss included exceptional items worth ₹6,738 crore, primarily comprising employee separation costs of ₹3,776 crore and asset impairment charges of ₹2,856 crore.
Despite the reported loss, consolidated revenue from operations rose 34% year-on-year to ₹96,920 crore. EBITDA margin improved by 630 basis points to 6.2% during the quarter.
The company's luxury brand Jaguar Land Rover (JLR) reported exceptional items of £530 million, largely linked to restructuring, employee separation costs and the write-down of intangible assets under development. JLR's revenue increased 20.3% to £5,894 million, while its EBITDA margin expanded 820 basis points to 6.6%.