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 ₹ 1,45,217 Cr.
- Current Price ₹ 342
- High / Low ₹ 368 / 315
- Stock P/E 32.8
- Book Value ₹ 85.5
- Dividend Yield 0.00 %
- ROCE 9.58 %
- ROE 12.9 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 4.00 times its book value
- Company has low interest coverage ratio.
* 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.
Peer comparison
Financial Services Financial Services Finance Non Banking Financial Company (NBFC)
Part of BSE IPO BSE Allcap BSE Financial Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 9,835 | 10,162 | 13,631 | 18,178 | 28,324 | 30,856 | |
| Interest | 5,213 | 4,889 | 6,601 | 9,568 | 15,030 | 15,928 |
| 2,826 | 2,908 | 3,018 | 3,951 | 8,032 | 8,505 | |
| Financing Profit | 1,797 | 2,364 | 4,013 | 4,659 | 5,263 | 6,422 |
| Financing Margin % | 18% | 23% | 29% | 26% | 19% | 21% |
| 152 | 260 | 150 | 21 | 46 | 34 | |
| Depreciation | 334 | 276 | 226 | 288 | 390 | 504 |
| Profit before tax | 1,615 | 2,348 | 3,937 | 4,392 | 4,919 | 5,952 |
| Tax % | 23% | 23% | 25% | 24% | 26% | |
| 1,245 | 1,801 | 2,946 | 3,327 | 3,655 | 4,424 | |
| EPS in Rs | 3.20 | 4.69 | 8.51 | 8.41 | 9.64 | 10.93 |
| Dividend Payout % | 0% | 3% | 2% | 2% | 4% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 41% |
| TTM: | 56% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 31% |
| TTM: | 17% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 16% |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3,464 | 3,463 | 3,507 | 3,703 | 3,762 | 4,007 |
| Reserves | 6,509 | 8,250 | 13,833 | 19,714 | 29,429 | 32,277 |
| Borrowing | 69,166 | 86,343 | 113,541 | 148,512 | 208,851 | 213,294 |
| 3,792 | 4,319 | 4,745 | 4,765 | 6,422 | 6,649 | |
| Total Liabilities | 82,930 | 102,376 | 135,626 | 176,694 | 248,465 | 256,228 |
| 901 | 719 | 733 | 1,190 | 2,003 | 2,506 | |
| CWIP | 8 | 11 | 20 | 8 | 16 | 2 |
| Investments | 4,653 | 7,846 | 13,254 | 8,733 | 9,866 | 9,337 |
| 77,368 | 93,798 | 121,619 | 166,763 | 236,580 | 244,383 | |
| Total Assets | 82,930 | 102,376 | 135,626 | 176,694 | 248,465 | 256,228 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 3,137 | -14,387 | -23,190 | -37,999 | -29,872 | |
| -2,626 | -2,614 | -2,263 | 5,758 | 3,167 | |
| -2,787 | 17,056 | 26,430 | 35,952 | 29,412 | |
| Net Cash Flow | -2,275 | 55 | 977 | 3,712 | 2,707 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| ROE % | 11% | 15% | 21% | 15% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Analyst/institutional investor meeting on February 9, 2026 in Mumbai (physical).
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
23 Jan - Tata Capital Limited has informed about Transcript of Earnings Conference Call for the quarter and nine months ended December 31, 2025.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
19 Jan - Monitoring report: Rs.6,846 crore IPO proceeds; Rs.5,200 crore repayment, Rs.1,497 crore onward lending; Rs.128 crore unutilized (31-Dec-2025).
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Audio Recording Of Earnings Conference Call For The Quarter And Nine Months Ended December 31, 2025
19 Jan - Audio recording of earnings conference call for quarter and nine months ended Dec 31, 2025 posted on website.
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Reg. 32 (1), (3) - Statement Of Deviation & Variation
19 Jan - Q3/9M results to Dec 31, 2025: Q3 PAT Rs 789.86cr; 9M PAT Rs 2,018.55cr; IPO Rs 6,846cr.
Concalls
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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]
Tata Capital is the 3rd largest and one of the fastest-growing diversified NBFCs in India, with a loan book of 2.33 lakh crore as of June 2025. It serves 7.3 Mn customers, offering over 25 lending products catered to individuals, SMEs, and corporates. The company benefits from strong group synergy as the flagship financial services arm of the Tata group, with a heritage of over 150 years.