Brokerages decode Tata Motors' Q1 results; is the stock still worth buying?

Nuvama Institutional Equities flagged the sharp miss in Tata Motors' JLR and India PV earnings, reducing its FY26E/FY27E Ebitda estimates by 6-7 per cent.

Analysts on Tata Motors Q1 results: Automaker Tata Motors’ June quarter (Q1FY26) performance has prompted brokerages to lower their target prices and maintain a cautious stance on the stock, citing a combination of weaker-than-expected earnings, tariff challenges at Jaguar Land Rover (JLR), muted demand in key markets, and headwinds across its domestic businesses.

 

The company’s consolidated Ebitda for the quarter fell 35 per cent year-on-year (Y-o-Y) to ₹9,720 crore, missing estimates due to a steep drop in Jaguar Land Rover (JLR) profitability and pressure on the India passenger vehicle (PV) segment. 

 

JLR revenues declined 9.2 per cent to £6.6