Tata Technologies LimitedQuarter ended September 30, 2026 Results & Financial Update
Tata Technologies Limited: Quarter ended September 30, 2026 consolidated results and company financials – revenue ₹1,698.80 Cr, PAT ₹171.44 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Tata Technologies Quarter ended September 30, 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Tata Technologies posted consolidated operating revenue of INR 1,698.80 crore for the quarter ended September 30, 2026, marking an increase of 2.05% sequentially compared to INR 1,664.63 crore for the quarter ended June 30, 2026.
Total income for the second quarter of FY27 stood at INR 1,729.95 crore, up from INR 1,701.55 crore in the preceding quarter, supported by other income of INR 31.15 crore.
Profit before tax (PBT) came in at INR 241.72 crore, reflecting a 3.97% decline from INR 251.70 crore reported in the June 2026 quarter, impacted by higher finance costs and depreciation charges.
Net profit after tax (PAT) attributable to shareholders for the quarter was INR 171.44 crore, down 5.15% sequentially from INR 180.75 crore in Q1 FY27, resulting in basic and diluted EPS of INR 4.22 compared to INR 4.45 in the previous quarter.
Services segment revenue reached INR 1,355.65 crore during the quarter compared to INR 1,296.92 crore in the previous quarter, while Technology Solutions generated INR 343.15 crore against INR 361.11 crore sequentially.
Operating margins and profitability faced moderate sequential compression, with PAT margin moving from 10.86% in Q1 FY27 down to 10.09% in Q2 FY27, a decrease of approximately 77 basis points.
Total expenses for the quarter stood at INR 1,499.66 crore, encompassing employee benefit expenses of INR 823.31 crore, outsourcing and consultancy charges of INR 186.48 crore, and technology solution purchases of INR 264.57 crore.
01 · Business model
What does Tata Technologies do?
Tata Technologies Limited operates as a global product engineering and digital services company, partnering with original equipment manufacturers (OEMs) and Tier 1 enterprises across the automotive, aerospace, industrial heavy machinery, and other manufacturing sectors.
The company's core service offerings span outsourced engineering and design services, engineering research and development (ER&D), embedded systems, software solutions, and digital enterprise solutions including upskilling and reskilling platforms.
Revenue is generated primarily through design, development, and validation mandates for next-generation vehicle platforms, software-defined vehicle architectures, manufacturing modernization, and full-vehicle development programmes globally.
The group serves clients across major international geographies including North America, Europe, and Asia-Pacific, leveraging delivery centers and subsidiaries in multiple jurisdictions.
02 · Historical context
What shaped the business before this quarter
During the year ended March 31, 2026, the company completed the 100% acquisition of Es-Tec GmbH through its subsidiary Tata Technologies Pte. Limited, accounting for it under Ind AS 103.
During the half year ended September 30, 2026, the holding company paid a dividend of INR 11.70 per share for the financial year ended March 31, 2026, resulting in a total cash outflow of INR 475.08 crore.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Quarter ended September 30, 2026 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹1,698.80 Cr | ₹1,664.63 Cr |
| Total income | ₹1,729.95 Cr | ₹1,701.55 Cr |
| Profit before tax | ₹241.72 Cr | ₹251.70 Cr |
| Profit after tax | ₹171.44 Cr | ₹180.75 Cr |
| EPS | ₹4.22 | ₹4.45 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 10.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 14.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹31.15 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Services segment revenue grew to INR 1,355.65 crore in Q2 FY27 from INR 1,296.92 crore in Q1 FY27, driven by ongoing program ramp-ups and deal conversions.
Technology solutions contributed INR 343.15 crore to total operating revenue for the quarter, compared to INR 361.11 crore in the preceding quarter.
What drove margins
Employee benefit expenses formed the largest cost component at INR 823.31 crore for the quarter, compared to INR 815.12 crore in Q1 FY27.
Depreciation and amortisation expenses increased to INR 54.27 crore from INR 46.72 crore, while finance costs rose to INR 19.85 crore from INR 15.47 crore sequentially.
05 · Demand, customers & order book
Where demand is coming from
Secured a $138 million full vehicle program with a leading luxury European automotive OEM across two vehicle platforms, alongside vehicle platform development mandates from a North American commercial vehicle manufacturer.
Won engagements with global OEMs and Tier 1 suppliers in North America and Europe covering software-defined vehicle validation, digital transformation, and engineering center operations.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Reported segment revenue of INR 1,355.65 crore with segment results before other income, finance costs, and tax at INR 408.37 crore.
Reported segment revenue of INR 343.15 crore with segment results before other income, finance costs, and tax at INR 65.41 crore.
07 · Strategy & new businesses
How the company is trying to change its growth mix
During the quarter ended September 30, 2026, the company adjusted provisional acquisition amounts for Es-Tec GmbH, resulting in a reduction in earnout consideration by INR 28.98 crore, intangible assets by INR 10.35 crore, and goodwill by INR 18.63 crore.
08 · Reported developments
What changed operationally
Total workforce strength stood at 12,895 employees, with last-twelve-months (LTM) attrition moderating to 15.6%.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash used in operating activities for the half year ended September 30, 2026, stood at INR 316.00 crore, impacted by working capital changes including trade receivables and other current liabilities.
Net cash generated from investing activities for the half year ended September 30, 2026, was INR 563.90 crore, while net cash used in financing activities was INR 496.67 crore, largely driven by dividend payouts.
Capital allocation & funding
Non-current borrowings stood at INR 531.90 crore and current borrowings at INR 141.43 crore as of September 30, 2026, alongside non-current lease liabilities of INR 303.83 crore and current lease liabilities of INR 92.77 crore.
10 · Management guidance & targets
What management is targeting from here
Management expressed confidence in delivering strong double-digit growth for the full year FY27, supported by robust demand, ongoing program ramp-ups, and healthy pipeline conversion.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Leadership Commentary
Chief Executive Officer and Managing Director Warren Harris highlighted leadership in product realization and full-vehicle development capabilities as key drivers positioning the company in software-defined vehicle transformation.
12 · Previous-quarter changes
What changed since the previous quarter
Operating revenue grew by 2.05% from INR 1,664.63 crore in Q1 FY27 to INR 1,698.80 crore in Q2 FY27.
13 · Key Q&A
The quarter, answered directly
What does Tata Technologies do?
Tata Technologies Limited operates as a global product engineering and digital services company, partnering with original equipment manufacturers (OEMs) and Tier 1 enterprises across the automotive, aerospace, industrial heavy machinery, and other manufacturing sectors.
What is the clearest takeaway from Quarter ended September 30, 2026?
Tata Technologies posted consolidated operating revenue of INR 1,698.80 crore for the quarter ended September 30, 2026, marking an increase of 2.05% sequentially compared to INR 1,664.63 crore for the quarter ended June 30, 2026.
What drove revenue or demand?
Services segment revenue grew to INR 1,355.65 crore in Q2 FY27 from INR 1,296.92 crore in Q1 FY27, driven by ongoing program ramp-ups and deal conversions.
What mattered most for margins or profitability?
Employee benefit expenses formed the largest cost component at INR 823.31 crore for the quarter, compared to INR 815.12 crore in Q1 FY27.
What changed operationally beyond the headline numbers?
During the quarter ended September 30, 2026, the company adjusted provisional acquisition amounts for Es-Tec GmbH, resulting in a reduction in earnout consideration by INR 28.98 crore, intangible assets by INR 10.35 crore, and goodwill by INR 18.63 crore.
What is management guiding or targeting from here?
Management expressed confidence in delivering strong double-digit growth for the full year FY27, supported by robust demand, ongoing program ramp-ups, and healthy pipeline conversion.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Order Execution and Conversion: Monitor the conversion of the recently secured $138 million full-vehicle program and other North American and European platform wins into recognized revenue.
- 02
Margin Trajectory: Track the progression of operating and PAT margins following sequential moderation in Q2 FY27 against rising employee and finance expenses.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.