Services Revenue (QoQ CC Growth)
12%
+12% QoQ
Services revenue grew 12% quarter-on-quarter in constant currency, driving total revenue growth.
TATATECHNOLOGIES
Information Technology
15 May 2026
Tata Technologies Ltd — Q4 FY26
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.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Full Vehicle Program Deal Value
Tens of billions of dollars
N/A
Multiple full-vehicle programs won, each with deal values in the tens of billions of dollars, spanning 18-36 months.
Aerospace Revenue Run Rate
$40M+
8x in 4 years
Aerospace revenues have grown 8x over the last four years to over $40 million annual run rate.
Headcount
12,646
+66 QoQ
Total headcount stood at 12,646, with net addition of 66 employees sequentially, reflecting deliberate capacity investment.
Management Guidance
Double-digit organic revenue growth in FY27
Management expects double-digit organic topline growth in constant currency for FY27, excluding inorganic contribution from Aztec.
Management guidance revenueExit FY27 with operating margin exceeding 18%
The company expects to exit FY27 with an operating margin run rate above 18%, driven by operating leverage, mix improvement, and AI deployment.
Management guidance marginsAt least two more full-vehicle program closures in 8-12 weeks
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.
Management guidance growthKey Risks
Middle East crisis impact on commodity supply and discretionary spend
The Middle East crisis could tighten commodity supply (aluminium, plastics) and reduce discretionary spend among customers, though management believes it is factored into guidance.
medium · analyst_questionEuropean OEM writedowns and EV project cancellations
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.
medium · analyst_questionGeopolitical uncertainty and tariff impact on customer decision-making
Tariffs and trade actions had previously caused customers to pause product plans; any escalation could again delay decision-making.
high · management_commentaryNotable 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.
Frequently Asked Questions
What was Tata Technologies's revenue in Q4 FY26?
Tata Technologies reported revenue of ₹1,572 Cr in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did Tata Technologies management give for FY27?
Double-digit organic revenue growth in FY27: Management expects double-digit organic topline growth in constant currency for FY27, excluding inorganic contribution from Aztec. Exit FY27 with operating margin exceeding 18%: The company expects to exit FY27 with an operating margin run rate above 18%, driven by operating leverage, mix improvement, and AI deployment. At least two more full-vehicle program closures in 8-12 weeks: 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.
What are the key risks for Tata Technologies in FY27?
Key risks include Middle East crisis impact on commodity supply and discretionary spend — The Middle East crisis could tighten commodity supply (aluminium, plastics) and reduce discretionary spend among customers, though management believes it is factored into guidance.; European OEM writedowns and EV project cancellations — 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.; Geopolitical uncertainty and tariff impact on customer decision-making — Tariffs and trade actions had previously caused customers to pause product plans; any escalation could again delay decision-making..
Did Tata Technologies meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Tata Technologies Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.