Tata Capital Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Financing Activity: 96.2% • Others: 2.7% • Investment Activity: 1.0%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 132.9% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 19.0%
- Solid return on assets for a lender - ROA of 1.7%
- Company has delivered good sales growth of 128.5% CAGR over last 5 years
- Latest quarter profit grew 75.9% YoY, showing strong momentum
CONS
- Promoter holding has decreased over last 2 years: -9.1pp
- Company has a low return on capital employed of 9.0%
- Free cash flow has been persistently negative
- Equity base is being diluted - shares outstanding up 19.2%
- Operating margins have contracted to 68.4% from 76.9%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCE | 1046.00 | 32.08 | 651234.82 | 0.57 | 6080.60 | 27.60 | 23165.45 | 20.37 | 10.87 | 70.70 |
| SHRIRAMFIN | 1038.00 | 21.58 | 244239.69 | 1.04 | 3452.77 | 59.90 | 13400.43 | 17.46 | 11.49 | 74.63 |
| CHOLAFIN | 1849.10 | 27.46 | 157925.34 | 0.11 | 1656.22 | 45.56 | 8856.29 | 21.89 | 9.70 | 70.07 |
| TATACAP | 362.95 | 28.51 | 154067.52 | 0.16 | 16281.80 | 1464.16 | 88219.30 | 1051.00 | 8.66 | 75.72 |
| JIOFIN | 231.15 | 73.86 | 152631.62 | 0.26 | 830.25 | 155.73 | 2004.47 | 227.28 | 2.11 | 69.71 |
| BAJAJHLDNG | 10971.00 | 13.79 | 122100.11 | 1.78 | 2708.08 | -92.27 | 394.33 | 23.34 | 14.81 | 684.72 |
| MUTHOOTFIN | 2840.00 | 10.03 | 114017.05 | 1.06 | 2824.84 | 43.08 | 8671.60 | 36.25 | 15.87 | 83.76 |
| ABCAPITAL | 400.00 | 26.68 | 109501.94 | 0.00 | 1223.85 | 43.85 | 12179.54 | 137.84 | 8.82 | 41.91 |
| LTF | 311.25 | 24.51 | 78010.22 | 0.88 | 915.99 | 30.70 | 5212.92 | 22.38 | 8.54 | 62.13 |
| SBICARD | 666.00 | 27.86 | 63379.43 | 0.38 | 664.44 | 19.51 | 5040.55 | 7.60 | 11.75 | 29.83 |
| HDBFS | 676.50 | 25.83 | 56201.25 | 0.59 | 785.20 | 38.31 | 4937.90 | 18.71 | 9.09 | 57.98 |
| SUNDARMFIN | 4702.35 | 23.54 | 52244.92 | 0.85 | 636.19 | 33.88 | 2644.13 | 23.37 | 9.35 | 80.61 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| 5,359 | 5,291 | 5,591 | 5,575 | 5,464 | 5,658 | 5,980 | 6,334 | |
| 1,747 | 1,569 | 1,876 | 4,837 | 1,835 | 1,882 | 1,711 | 4,994 | |
| Operating Profit | 3,681 | 3,799 | 3,790 | 3,714 | 3,749 | 3,829 | 4,398 | 4,499 |
| OPM % | 68.69% | 71.80% | 67.79% | 66.62% | 68.62% | 67.67% | 73.55% | 71.03% |
| Other Income | 6 | 8 | 30 | 26 | 8 | 3 | 1 | 3 |
| Interest | 2,680 | 2,765 | 2,836 | 2,871 | 2,742 | 2,678 | 2,732 | 3,017 |
| Depreciation | 80 | 87 | 95 | 105 | 122 | 128 | 129 | 142 |
| 927 | 955 | 889 | 763 | 893 | 1,062 | 1,540 | 1,343 | |
| Tax % | 23.76% | 24.71% | 26.35% | 25.53% | 26.05% | 25.60% | 23.18% | 25.58% |
| Net Profit | 707 | 719 | 655 | 568 | 661 | 790 | 1,183 | 999 |
| 2 | 2 | 2 | 0 | 2 | 2 | 3 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 391 | 371 | 331 | 366 | 370 | 435 | 10,171 | 13,290 | 21,884 | 23,052 | 23,436 | |
| 245 | 125 | 386 | 86 | 127 | 113 | 2,348 | 3,190 | 7,276 | 7,292 | 10,423 | |
| Operating Profit | 147 | 246 | -54 | 280 | 243 | 322 | 7,823 | 10,100 | 14,608 | 15,760 | 13,013 |
| OPM % | 37.50% | 66.31% | -16.39% | 76.49% | 65.72% | 73.93% | 76.91% | 76.00% | 66.75% | 68.37% | 55.53% |
| 169 | 112 | 447 | 54 | 82 | 78 | 3 | 41 | 59 | 70 | -22 | |
| Interest | 119 | 306 | 317 | 272 | 255 | 290 | 4,579 | 6,688 | 10,951 | 11,090 | 11,169 |
| Depreciation | 7 | 8 | 8 | 8 | 7 | 7 | 198 | 244 | 340 | 483 | 520 |
| Profit before Tax | 189 | 43 | 68 | 54 | 63 | 103 | 3,049 | 3,209 | 3,375 | 4,257 | 4,837 |
| Tax % | 4.70% | 15.72% | 59.57% | 46.31% | 25.96% | 19.28% | 23.88% | 22.32% | 23.14% | 24.81% | 24.91% |
| Net Profit | 180 | 37 | 28 | 29 | 47 | 83 | 2,321 | 2,492 | 2,594 | 3,201 | 3,633 |
| EPS | 0.15 | 0.13 | 0.09 | 0.09 | 0.13 | 0.24 | 6.47 | 6.65 | 6.83 | 7.54 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 67.70% | 2.42% | 3.16% | 6.15% | 7.56% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 53%
- 5 Years:
- 129%
- 3 Years:
- 31%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 36%
- 5 Years:
- 133%
- 3 Years:
- 11%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 12%
- 3 Years:
- 12%
- Last Year:
- 10%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2,826 | 2,826 | 3,320 | 3,516 | 3,516 | 3,516 | 3,560 | 3,746 | 3,800 | 4,245 | |
| 426 | 480 | 2,509 | 3,347 | 3,402 | 3,484 | 11,069 | 15,656 | 19,925 | 34,689 | |
| 1,476 | 3,771 | 3,519 | 3,274 | 3,509 | 4,090 | 79,438 | 1,01,715 | 1,48,266 | 1,61,931 | |
| Trade Payables | 18 | 10 | 29 | 21 | 20 | 23 | 902 | 976 | 1,326 | 1,375 |
| 1,962 | 176 | 182 | 48 | 65 | 149 | 1,572 | 1,202 | 5,348 | 3,242 | |
| Total Liabilities | 6,708 | 7,263 | 9,560 | 10,207 | 10,513 | 11,263 | 96,542 | 1,23,295 | 1,78,664 | 2,05,481 |
| 115 | 47 | 45 | 42 | 38 | 35 | 590 | 998 | 1,801 | 2,416 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 4 | 1 | 1 |
| 5,918 | 6,780 | 8,267 | 9,001 | 9,083 | 10,140 | 12,010 | 9,493 | 11,501 | 11,240 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 97 | 148 | |
| Cash & Bank | 1 | 0 | 582 | 2 | 25 | 2 | 2,504 | 4,985 | 7,217 | 2,915 |
| 674 | 435 | 665 | 1,163 | 1,368 | 1,085 | 81,437 | 1,07,685 | 1,58,048 | 1,88,762 | |
| Total Assets | 6,708 | 7,263 | 9,560 | 10,207 | 10,513 | 11,263 | 96,542 | 1,23,295 | 1,78,664 | 2,05,481 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 399 | 305 | -244 | -489 | -208 | 319 | -19,474 | -29,029 | -24,938 | -32,517 | |
| Cash from Investing | -882 | -826 | -1,312 | -739 | -30 | -1,018 | -1,932 | 3,189 | -338 | 85 |
| Cash from Financing | 294 | 307 | 2,030 | 596 | 116 | 541 | 19,413 | 23,409 | 15,985 | 19,155 |
| -10 | -0 | 582 | -580 | 23 | -23 | 996 | 2,621 | -1,545 | -3,635 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Tata Capital Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI LODR Regulations - Change in Senior Management Personnel of the Company
2026-09-08 - Tata Capital Limited has informed the Exchange regarding allotment of 300000 securities pursuant to Non Convertible Securities
2026-08-20 - Tata Capital Limited has informed the Exchange regarding grant of stock options under the ESOP Scheme of the Company.
2026-08-19 - Tata Capital Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-19 - Tata Capital Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 19, 2026. Further, the Company has submitted the Exchange a copy of Scrutinizers report along with voting results.
2026-08-12 - Tata Capital Limited has informed the Exchange regarding Schedule of Analyst / Institutional Investor Meeting.
2026-08-03 - Tata Capital Limited has informed the Exchange about Transcript
2026-07-31 - Tata Capital Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
2026-07-28 - Tata Capital Limited has informed the Exchange about Audio Recording of Media call and Earnings Conference Call held on July 28, 2026.
News
Recent coverage and analyst commentary for TATACAP
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