| Market Cap | ₹1,02,737 CrLarge Cap |
|---|---|
| P/E TTM | 1.3xSector 31.65x |
| TTM Revenue | ₹3,43,703 CrAutomobiles |
| Promoter Holding | 42.51%Stable |
Key highlights
- Definitive Agreement signed on October 12, 2026, building on a February 2026 Memorandum of Understanding
- TMPV to provide access to its advanced product technology and vehicle architecture capabilities
- Stellantis to apply global product development expertise to adapt vehicles for diverse regulatory requirements
- Manufacturing will be centralized at the 50:50 FIAPL joint venture facility in Ranjangaon, Pune
- Collaboration targets domestic demand and export potential across more than 50 global markets
Leveraging Architecture for Global Expansion
Tata Motors Passenger Vehicles and Stellantis formalised their expanded partnership on October 12, 2026, transitioning a previous preliminary agreement into a specific technology and product collaboration. Under this definitive agreement, TMPV will grant Stellantis access to its advanced product technology and vehicle architecture. Stellantis intends to build upon these foundations using its global engineering capabilities to adapt vehicles for more than 50 international markets.
The partnership aims to utilise India's competitive engineering strengths and manufacturing scale to accelerate export ambitions, anchoring the country as a critical node within the global production network for both automotive giants.
The FIAPL Manufacturing Core
- Manufacturing will occur at Fiat India Automobiles Private Limited (FIAPL), a 50:50 joint venture in Ranjangaon, Pune
- The state-of-the-art facility currently produces premium Stellantis models including the Jeep Compass and Meridian
- The plant handles CKD assembly for high-end models like the Jeep Grand Cherokee and Wrangler
- TMPV best-sellers such as the Nexon, Altroz, and Curvv are also produced at this integrated site
- In-house production at the facility includes advanced engines, transmissions, and traction motors
- The site already serves as a strategic export hub for key international markets including Japan and South Africa
Financial Performance and Strategic Targets
This strategic tie-up follows a period of financial adjustment for TMPV, which reported a quarterly net profit of ₹775 crore for the period ended June 30, 2026, marking an 86.6 percent decline from the previous quarter. However, quarterly operating revenue remained resilient at ₹95,799 crore, up 9.26 percent year-on-year. The company is pursuing a long-term consolidated aspiration to reach annual revenues exceeding ₹600,000 crore and a 10 percent EBIT margin by FY31.
Recent sales figures show positive momentum, with the group achieving record quarterly volumes of 201,723 units in Q2 FY27, representing a 40 percent year-on-year increase.
Strengthening a Two-Decade Partnership
Our partnership with Stellantis has grown steadily over more than two decades, built on mutual trust and complementary strengths. This Agreement marks an important next step, extending our relationship into advanced vehicle technology and architecture, reflecting the strength and competitiveness of TMPV’s capabilities in these areas.
| Date | Announcement | Amount |
|---|---|---|
| 25 Aug 2026 | Partnership with Tata Communications to deploy in-built 5G cellular connectivity in the Sierra.evSource: foliopulse.in | – |
| 26 Jun 2026 | Strategic MoU with UCO Bank to provide customized inventory funding solutions for authorized passenger vehicle and EV dealersSource: cars.tatamotors.com | – |
| 24 Feb 2026 | Collaboration with Shell India Mobility to roll out 21 TATA.ev x Shell Mega EV Charging Hubs across key citiesSource: evtechnews.in | – |
| 10 Feb 2026 | Memorandum of Understanding with Stellantis to evaluate expanded collaboration in manufacturing, engineering, and supply chains under their 50:50 FIAPL joint ventureSource: cars.tatamotors.com | – |
| 10 Jan 2025 | Partnership MoU with Saraswat Bank to offer customized retail vehicle financing solutions for ICE and EV buyersSource: tatamotors.com | – |
What to watch next
- Board meeting to review and approve Q2 FY27 financial results on October 23, 2026
- Implementation of in-built 5G cellular connectivity in the Sierra.ev following the August 2026 agreement
- Progress toward the FY31 consolidated revenue target of ₹600,000+ crore
“By combining Tata Motors' strong capabilities in India with Stellantis' global product development and market reach, this Agreement will help us develop competitive vehicles in India and expand our export potential across international markets.”
| Share price | ₹278.95 |
|---|---|
| Market capitalisation | ₹1.03L Cr |
| Revenue (annual) | ₹3.36L Cr |
| Net profit (annual) | ₹82,390.00 Cr |
| Revenue (latest quarter) | ₹95,799.00 Cr-9.15% vs previous quarter |
| Net profit (latest quarter) | ₹775.00 Cr-86.60% vs previous quarter |
| P/E (TTM) | 1.3×Sector 31.65× |
| Promoter holding | 42.51%-0.05% QoQ |
| FII holding | 17.11%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Tata Motors Passenger Vehicles Limited announcing a definitive technology and product collaboration agreement with Stellantis. Market figures from a third-party data provider.
Track Tata Motors Passenger Vehicles live
Get the next Tata Motors Passenger Vehicles filing on Telegram seconds after it lands. 15 days free.
