Tata Capital Ltd
Tata Capital Limited ("TCL"), the flagship financial services company of the Tata Group, is a subsidiary of Tata Sons Private Limited and is carrying on business as a NBFC. It is engaged in providing/supplying a wide array of services/products in the financial services sector and operates across various areas of business: Commercial Finance, Consumer Loans, Wealth Services and distribution and marketing of Tata Cards.[1]
- Market Cap ₹ 1,55,108 Cr.
- Current Price ₹ 365
- High / Low ₹ 380 / 296
- Stock P/E 42.4
- Book Value ₹ 91.9
- Dividend Yield 0.16 %
- ROCE 8.13 %
- ROE 9.62 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.98 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 11.2% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 5.62% of profits over last 3 years
- Working capital days have increased from 144 days to 512 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 452 | 501 | 10,173 | 13,293 | 21,897 | 23,052 | 23,811 | |
| Interest | 255 | 290 | 4,557 | 6,646 | 10,889 | 11,023 | 11,169 |
| 127 | 112 | 2,366 | 3,211 | 7,335 | 7,290 | 7,264 | |
| Financing Profit | 70 | 99 | 3,250 | 3,436 | 3,673 | 4,739 | 5,378 |
| Financing Margin % | 15% | 20% | 32% | 26% | 17% | 21% | 23% |
| 1 | 11 | -3 | 16 | 43 | 2 | -21 | |
| Depreciation | 7 | 7 | 198 | 244 | 340 | 483 | 520 |
| Profit before tax | 63 | 103 | 3,049 | 3,209 | 3,375 | 4,257 | 4,837 |
| Tax % | 26% | 19% | 24% | 22% | 23% | 25% | |
| 47 | 83 | 2,321 | 2,492 | 2,594 | 3,201 | 3,633 | |
| EPS in Rs | 0.13 | 0.24 | 6.52 | 6.65 | 6.83 | 7.54 | 8.64 |
| Dividend Payout % | 0% | 68% | 3% | 3% | 6% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 120% |
| 3 Years: | 31% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 133% |
| 3 Years: | 12% |
| TTM: | 38% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 11% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3,516 | 3,516 | 3,560 | 3,746 | 3,800 | 4,245 |
| Reserves | 3,413 | 3,502 | 11,181 | 15,706 | 24,299 | 34,768 |
| Borrowing | 3,449 | 4,091 | 78,881 | 101,125 | 147,650 | 161,849 |
| 137 | 154 | 3,180 | 3,136 | 4,489 | 6,030 | |
| Total Liabilities | 10,514 | 11,263 | 96,802 | 123,713 | 180,237 | 206,892 |
| 90 | 85 | 605 | 998 | 1,801 | 2,447 | |
| CWIP | 0 | 0 | 10 | 7 | 14 | 1 |
| Investments | 9,083 | 10,140 | 12,010 | 9,493 | 11,501 | 11,240 |
| 1,341 | 1,038 | 84,177 | 113,215 | 166,922 | 193,204 | |
| Total Assets | 10,514 | 11,263 | 96,802 | 123,713 | 180,237 | 206,892 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -62 | 454 | -16,484 | -23,977 | -17,191 | -22,875 | |
| -30 | -1,018 | -1,932 | 3,189 | 2,866 | 85 | |
| 116 | 541 | 19,413 | 23,409 | 15,985 | 19,155 | |
| Net Cash Flow | 23 | -23 | 996 | 2,621 | 1,660 | -3,635 |
| Free Cash Flow | -62 | 453 | -16,584 | -24,587 | -18,183 | -23,812 |
| CFO/OP | -10% | 125% | -201% | -229% | -111% | -140% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| ROE % | 1% | 1% | 21% | 15% | 11% | 10% |
Insights
In beta| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| TCHFL (Housing Finance Subsidiary) AUM ₹ crore |
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| Customer Base millions |
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| Disbursements ₹ crore |
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| Number of Branches Number |
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| On-roll Employee Count Number |
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| Collection Efficiency - Home Loan % |
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| Core Business (ex-Motor Finance) % of Net AUM % |
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| Unsecured Retail % of Net AUM % |
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Extracted by Screener AI
Documents
Announcements
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 2d
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
2d - Members approved issuance of Non-Convertible Debentures on private placement basis via postal ballot on July 31, 2026.
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Audio Recording Of Earnings Call For The Quarter Ended June 30, 2026
28 Jul - Audio recording of July 28, 2026 media and earnings call for Q1 FY27 posted online.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
28 Jul - CARE report says Tata Capital used IPO proceeds as planned for quarter ended June 30, 2026.
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Reg. 32 - Statement Of Deviation / Variation
28 Jul - Board approved Q1 FY27 results and reappointed Sarita Kamath as CCO from October 1, 2026.
Concalls
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Jul 2026TranscriptPPT REC
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Jul 2026TranscriptAI SummaryPPT
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Apr 2026Transcript PPT REC
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Jan 2026Transcript PPT REC
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Dec 2025TranscriptAI SummaryPPT
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Nov 2025Transcript PPT REC
Business Profile:[1][2]
Tata Capital is the 3rd largest and one of
the fastest-growing diversified NBFCs in
India with a 100% owned housing finance subsidiary with a loan book of 2.77 lakh crore as of FY26. It serves 7.3 Mn customers, offering over 25 lending products catered to individuals, SMEs, and corporates.
The company benefits from group synergy as the flagship financial services arm of the Tata group, with a heritage of 150+ years.