Tata Capital Ltd.
TATACAPFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
4 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 4 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20251103 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260123 | 2025-12-31 | yes | |
| ANALYST_MEET | 20260429 | 2026-03-31 | yes | |
| ANALYST_MEET | 20260803 | 2026-06-30 | yes |
TATACAP
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 336.25 |
| 52-week range | not reported for this period |
| Return 1M | -7.56% |
| Return 3M | -7.53% |
| Return 1Y | not reported for this period |
| Return 3Y | not reported for this period |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 8,822.00 |
| Other income | 3.00 |
| Total income | 8,825.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 758.00 |
| Finance costs | 4,370.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.85 | 0.00 |
| institutions foreign | 0.05 | 0.00 |
| institutions domestic | 0.04 | -0.00 |
| mutual funds | 0.02 | -0.00 |
| public | 0.14 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2026-06-30 | 2 |
| TRANSCRIPT | 2025-12-31 | 2 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|
| Revenue from operations | 7,737.00 | 7,975.00 | 8,160.00 | 8,822.00 |
| Other income | 12.00 | 3.00 | 2.00 | 3.00 |
| Total income | 7,750.00 | 7,979.00 | 8,162.00 | 8,825.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 722.00 | 734.00 | 737.00 | 758.00 |
| Finance costs | 3,976.00 | 3,928.00 | 4,017.00 | 4,370.00 |
| Depreciation and amortisation | 135.00 | 142.00 | 143.00 | 154.00 |
| Other expenses | 640.00 | 679.00 | 706.00 | 706.00 |
| Total expenses | 6,246.00 | 6,241.00 | 6,185.00 | 6,667.00 |
| Profit before exceptional items and tax | 1,504.00 | 1,738.00 | 1,978.00 | 2,159.00 |
| Exceptional items | 0.00 | -44.00 | 0.00 | 0.00 |
| Profit before tax | 1,504.00 | 1,694.00 | 1,978.00 | 2,159.00 |
| Current tax | 422.00 | 463.00 | 345.00 | 600.00 |
| Deferred tax | -34.00 | -33.00 | 167.00 | -69.00 |
| Tax expense | 388.00 | 430.00 | 512.00 | 531.00 |
| Profit for the period | 1,119.00 | 1,265.00 | 1,466.00 | 1,628.00 |
| Profit attributable to owners | 1,097.00 | 1,257.00 | 1,502.00 | 1,547.00 |
| Profit attributable to non-controlling interests | 22.00 | 8.00 | -36.00 | 81.00 |
| Other comprehensive income | 77.00 | 24.00 | 167.00 | 41.00 |
| Total comprehensive income | 1,196.00 | 1,288.00 | 1,634.00 | 1,669.00 |
| Earnings per share, basic | 2.73 | 2.97 | 3.54 | 3.65 |
| Earnings per share, diluted | 2.73 | 2.97 | 3.54 | 3.65 |
| Interest earned | 6,980.00 | 7,242.00 | 7,494.00 | 7,941.00 |
| Fees and commission income | 435.00 | 462.00 | 454.00 | 454.00 |
| Net gain on fair value changes | 101.00 | 66.00 | -32.00 | 184.00 |
| Dividend income | 4.00 | 0.00 | 0.00 | 9.00 |
| Rental income | 115.00 | 120.00 | 123.00 | 142.00 |
Annual results, as filed
| Line | 2026-03-31 |
|---|---|
| Revenue from operations | 31,540.00 |
| Other income | 43.00 |
| Total income | 31,583.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 2,828.00 |
| Finance costs | 15,985.00 |
| Depreciation and amortisation | 538.00 |
| Other expenses | 2,607.00 |
| Total expenses | 24,981.00 |
| Profit before exceptional items and tax | 6,602.00 |
| Exceptional items | -44.00 |
| Profit before tax | 6,558.00 |
| Current tax | 1,641.00 |
| Deferred tax | 31.00 |
| Tax expense | 1,671.00 |
| Profit for the period | 4,891.00 |
| Profit attributable to owners | 4,846.00 |
| Profit attributable to non-controlling interests | 45.00 |
| Other comprehensive income | 282.00 |
| Total comprehensive income | 5,173.00 |
| Earnings per share, basic | 11.76 |
| Earnings per share, diluted | 11.76 |
| Interest earned | 28,652.00 |
| Fees and commission income | 1,696.00 |
| Net gain on fair value changes | 310.00 |
| Dividend income | 13.00 |
| Rental income | 445.00 |
Balance sheet, as filed
| Line | 2025-09-30 | 2026-03-31 |
|---|---|---|
| Total assets | 256,228.00 | 290,504.00 |
| Property, plant and equipment | 2,395.00 | 2,501.00 |
| Capital work-in-progress | 2.00 | 1.00 |
| Goodwill | 0.00 | 0.00 |
| Other intangible assets | 87.00 | 100.00 |
| Inventories | 0.00 | 0.00 |
| Cash and cash equivalents | 3,339.00 | 3,641.00 |
| Total equity and liabilities | 256,228.00 | 290,504.00 |
| Equity | 37,573.00 | 47,107.00 |
| Equity share capital | 4,007.00 | 4,217.00 |
| Other equity | 32,277.00 | 41,645.00 |
| Total liabilities | 218,655.00 | 243,396.00 |
Cash flow, as filed
| Line | 2025-09-30 | 2026-03-31 |
|---|---|---|
| Net cash from operating activities | -10,350.00 | -37,965.00 |
| Net cash from investing activities | 216.00 | 267.00 |
| Net cash from financing activities | 3,983.00 | 31,848.00 |
| Purchase of property, plant and equipment | 727.00 | 995.00 |
| Net increase in cash | -6,140.00 | -5,834.00 |
| con:CFO.BEFORE_TAX | -15,488.00 | -49,385.00 |
| con:INTEREST_RECEIVED.OPERATING | 13,001.00 | 27,262.00 |
| con:INTEREST_PAID.OPERATING | 7,266.00 | 14,451.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 13.00 | 13.00 |
| con:TAX_PAID.OPERATING | 611.00 | 1,403.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 94,787.00 | 164,630.00 |
| con:INVESTMENTS_SOLD | 95,514.00 | 164,814.00 |
| con:PPE_DISPOSALS | 11.00 | 31.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2025-10-13 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|
| Promoter and promoter group | 0.85 | 0.85 | 0.85 | 0.85 |
| Domestic institutions | 0.03 | 0.03 | 0.04 | 0.04 |
| Mutual funds | 0.02 | 0.02 | 0.02 | 0.02 |
| Insurance companies | 0.01 | 0.01 | 0.01 | 0.01 |
| Foreign institutions | 0.03 | 0.05 | 0.05 | 0.05 |
| Government | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 0.14 | 0.14 | 0.14 | 0.14 |
| Non-institutional | 0.07 | 0.06 | 0.05 | 0.05 |
| Shares outstanding | 4244869037 | 4244869037 | 4244869037 | 4244869037 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-03 | Q1FY27 | Read the call | |
| 2026-04-29 | Q4FY26 | Read the call | |
| 2026-01-23 | Q3FY26 | TATA CAPITAL LIMITED | Read the call |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | Read the call |
What they said about it, quarter by quarter
| Topic | Q1FY27 | Q2FY26 | Q3FY26 | Q4FY26 |
|---|---|---|---|---|
| Capital allocation | Mr. Sabharwal, I'll start off the question with the acquisition of Yogloans. | I will discuss the financial performance both on the consolidated basis and excluding Motor Finance business, the acquisition of which got completed o… | — | For the performance excluding Motor Finance business, which was the acquisition which we did of Tata Motor Finance, our AUM stood at INR2.52 lakh cror… |
| Costs | — | — | — | When we talk to clients who are there in the SME or the large corporate side, they have stocks of raw materials and which is helping them tide over th… |
| Debt and cash | — | So, the last question is because you have exposure to various industries and as we are seeing the Indian Corporate balance sheet deleveraging because … | As long as you have got your valuations right and you have funded it based on the cash flows which the borrower has, and not relied only on property a… | In terms of our assessment, we feel that we should be more careful in certain parts of the MSME business and this is where our messaging to our credit… |
| Demand | Credit demand continued to remain healthy in the first quarter of FY27 across both banking and non-banking channels, reflecting sustained underlying e… | October 28, 2025 demand over the next couple of quarters. | Overall, business sentiment remains constructive, supported by improving consumption, steady industrial activity and a gradual revival in rural demand… | March being the end of the year also saw peaking of credit demand with system credit expanding at 16% Y-o-Y. |
| Guidance | So, while we have applied to RBI and for seeking their approval for acquisition of this entity, we expect the approvals to come towards the end of thi… | October 28, 2025 I will share an update on our housing finance subsidiary and the Motor Finance business and conclude with our outlook, both for FY'26… | I will now take you through our performance across five key themes, highlighting progress against our guidance and providing deeper insights into the … | With sustained momentum across retail and housing, improving performance in the Motor Finance business, and adequate capital buffers, we are well-posi… |
| Margin | Our focus on affordable housing and loan against property continues to support margin expansion and portfolio diversification. | Looking ahead, we see potential for margin expansion over the medium term as we continue to further optimize our product mix with increased share of h… | Looking ahead, we see potential for margin expansion over the medium term, supported by further optimization of our product mix, with a rising contrib… | The investments made over the past few years across technology, data, and distribution are now translating into tangible operating leverage. |
| People | Since you've said you've not hired as much because of artificial intelligence, how much of a difference has AI made to your hiring if you have certain… | The senior team has been stable and with almost nil attrition over the last 6 years. | — | Productivity, turnaround times, and overall efficiency have improved while headcount growth has remained calibrated and aligned with business requirem… |
| Pricing | So, because our cost of funds is showing an increase, for all our incremental lending, we are looking at doing these deals at a better pricing so that… | — | — | Margins remain stable during the quarter with Net total income at 6.5% in quarter 4, supported by disciplined pricing, a calibrated shift towards high… |
| Revenue growth | FY26 was a strong year for the Indian economy with a real GDP growth at 7.7% supported by strong domestic consumption and investment activity. | Over the last 18 months, while the secured loan growth was strong, we witnessed moderation in credit offtake across unsecured loans, microfinance and … | I am pleased to report that we recorded our highest ever quarterly AUM growth of ~ INR16,800 crores driven by festive demand and benefits of GST reduc… | Our housing finance business continued its strong performance in quarter four of FY '26 with AUM growth at 29% year-on-year to INR86,653 crores and pr… |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | Looking ahead, we expect the growth momentum to strengthen in the second half of the year, targeting a full-year growth of 22% to 25% for Tata Capital excluding Motor Finance and about 18% to 20% on a merged basis. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | For Tata Capital, excluding Motor Finance, we anticipate a full year credit cost to be in the range of 1% to 1.1%. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | And including Motor Finance business, on a consolidated basis, we expect credit costs to be close to 1.2%. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | For the full year, we expect cost to income to reduce from 42% last year to 39% in this year, a reduction of approximately 300 plus basis points. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | Next year, we expect to be profitable over the full year with growing RoAs and we remain on track to achieve our targeted RoA of 2% by FY '28. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | We aim to close the year with credit costs at close to 1% to 1.1% excluding Motor Finance and around 1.2% on a merged basis. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | We expect consolidated PAT growth of around 35% with RoEs of 13% to 14%. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | Over the next 3 years, we expect AUM to grow at 23% to 25%, cost to income to come down to 33% to 34%, credit costs to be below 1% and RoAs to be in the range of 2.5% to 2.7%. |
| 2025-11-03 | Q2FY26 | TATA CAPITAL LIMITED | October 28, 2025 And thirdly, within your guidance of 22%-25%, what you have given the guidance of a 3 year, if you can explain how you wanted to see this growth between Retail, SME and Corporate. |
| 2026-01-23 | Q3FY26 | TATA CAPITAL LIMITED | Given the strong traction seen in Q3 in book growth and remaining conscious about the prepayment pressure, we are on track to meet our FY '26 guidance of 18%-20% AUM growth. |