Mumbai, Nov. 14 -- The reported profits adversely impacted by mark-to-market losses on account of recently listed investments in Tata Capital (around Rs 2,000 crore).

Total revenue from operations increased 5.99% YoY Rs 18,585 crore in Q2 FY26. EBITDA margin (including impact of acquisition related due diligence spends) improved 140 bps to 14.02%, while EBIT margin expanded 170 bps to 8.8% during the quarter.

As of September 30, 2025, the company was net cash positive at Rs 1,200 crore (Including TMF Holdings gross debt less market value of TMF Holdings investments in Tata Capital).

The Commercial Vehicles (CV) segment delivered strong Q2 FY26 results driven by a 12% YoY increase in volumes and continued focus on profitable growth. In ...