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]
Weaknesses
- −Stock is trading at 3.32 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 3.10% of profits over last 3 years
- −Working capital days have increased from 144 days to 512 days
Shareholding Pattern
| Category | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoters | 85.41% | 85.41% |
| FIIs | 4.63% | 4.88%▲0.3 |
| DIIs | 3.33% | 3.6%▲0.3 |
| Public | 5.97% | 5.43%▼0.5 |
Financial Statements
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 1,747 | 1,569 | 1,876 | 1,861 | 1,835 | 1,882 | 1,711 |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| OPM % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | 707 | 719 | 655 | 568 | 661 | 790 | 1,183 |
| EPS ₹ | 1.89 | 1.92 | 1.72 | 1.43 | 1.64 | 1.86 | 2.79 |
AI Insights
Mar 2026 revenue at ₹0Cr, up 0% YoY. OPM at 0%.
Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.
CWIP at ₹1Cr (0% of fixed assets). Moderate ongoing capital expenditure.
ROCE improving from 0% (Mar 2021) to 0% (Mar 2026). Working capital days: 0.
PE 39.9x with 8.13% ROCE. Price is 230% above book value of ₹91.9. Dividend yield: 0%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Allotment 12 May - Tata Capital allotted secured NCDs worth Rs.765 crore on private placement basis on May 12, 2026.
- Announcement under Regulation 30 (LODR)-Allotment 12 May - Tata Capital allotted 50,500 secured NCDs worth Rs.505 crore on private placement basis on May 12, 2026.
- Announcement under Regulation 30 (LODR)-Change in Management 9 May - Tata Capital designates three officials as senior management personnel effective May 11, 2026.
- Announcement under Regulation 30 (LODR)-Change in Management 6 May - Manish Chourasia, COO–Corporate and Cleantech Finance, resigns effective May 11, 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 6 May
- Rating update 8 Apr from care
- Rating update 23 Oct 2025 from fitch
- Rating update 20 Jun 2025 from crisil