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Revenue
₹1,572 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹252 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Tata Technologies delivered a strong Q4 FY26, with total revenue of ₹1,572 crore (up 12.4% QoQ CC) and EBITDA margin of 16% (+200bps QoQ), exceeding guidance of >10% revenue growth and >16% margin. The inflection was driven by broad-based growth across automotive (13.6% QoQ), aerospace/IHM (4.6%), and technology solutions (12%), with organic services revenue up 8.8% CC. Management guided for double-digit organic revenue growth in FY27 and an exit margin run rate exceeding 18%, supported by operating leverage, AI deployment, and a strong deal pipeline including multiple full-vehicle programs. Key wins include a Japanese OEM full-vehicle program and a European luxury OEM PLM transformation. Risks include potential tightening of discretionary spend if the Middle East crisis persists, though management believes this is factored into guidance.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects double-digit organic topline growth in constant currency for FY27, excluding inorganic contribution from Aztec.
- The company expects to exit FY27 with an operating margin run rate above 18%, driven by operating leverage, mix improvement, and AI deployment.
- Management expects to close at least two additional full-vehicle programs over the next 8 to 12 weeks, adding to the two closed in Q4 and two in April.
Risks flagged
- The Middle East crisis could tighten commodity supply (aluminium, plastics) and reduce discretionary spend among customers, though management believes it is factored into guidance.
- Recent large EV project writedowns at Stellantis, Ford, GM, and Renault could signal reduced R&D spending, but management views this as balance sheet cleaning and not indicative of broader trend.
- Tariffs and trade actions had previously caused customers to pause product plans; any escalation could again delay decision-making.
Key quotes
- We continue to expect double-digit organic topline growth excluding any inorganic contribution from Aztec and we expect to exit FY27 with an operating margin run rate that exceeds 18%.
- The fact that we've been entrusted to take on the responsibility for a full vehicle program that includes a top hat and adjustments that we need to make to an existing platform... I think it's proof positive that our value proposition is resonating across the market.
- Our view and I think increasingly this is the view of our customers is that they have to invest in order to be able to resist the competition that is absolutely going to come from the Chinese.
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