Tata Electronics and Nexperia Forge Semiconductor Alliance to Drive Innovation and Supply Chain Resilience

Nexperia and Tata Electronics have entered into a wide-ranging partnership covering wafer fabrication, assembly and testing, technology collaboration, and innovation. This alliance sets the stage for long-term cooperation across the semiconductor value chain, supporting both companies’ growth ambitions while advancing India’s role as a globally competitive hub.

Nexperia is a Netherlands headquartered global semiconductor company, known for producing essential components that power virtually every electronic design worldwide. It ships over 100 billion units annually and plays a critical role in automotive, industrial, consumer, and mobile applications.

Through their front‑end manufacturing collaboration, Nexperia and Tata Electronics are preparing to produce Nexperia’s MOSFET portfolio at Tata’s upcoming 300mm semiconductor Fab in Dholera, Gujarat.

Nexperia is a cornerstone of the global semiconductor industry, combining European engineering heritage with worldwide manufacturing capacity. Its partnership with Tata Electronics leverages this expertise to strengthen India’s semiconductor ecosystem.

🗣️ Leadership Perspectives

• Achim Kempe, COO, Nexperia: “This collaboration goes beyond manufacturing. By combining Nexperia’s semiconductor expertise with Tata Electronics’ expanding capabilities, we are building a long-term partnership that drives innovation, growth, and supply resilience.”
• Dr. Randhir Thakur, CEO & MD, Tata Electronics: “We are delighted to partner with Nexperia to manufacture their products at our facilities in Dholera and Jagiroad. This comprehensive partnership represents a major step in building a globally competitive semiconductor ecosystem in India.”
• Stefan Tilger, Interim CEO, Nexperia: “Our collaboration with Tata Electronics merges complementary strengths in technology, manufacturing, and innovation, reinforcing our commitment to a resilient and globally balanced network.”

Strategic Importance

• India’s Semiconductor Leap: Tata Electronics is investing USD 14 billion to establish India’s first commercial 300mm Fab in Dholera, Gujarat and an indigenous assembly and test facility in Jagiroad, Assam.
• Global Supply Chain Resilience: The alliance diversifies production and strengthens supply chain flexibility.
• EU–India Cooperation: Aligns with growing technology and trade ties between India and the European Union.

Partnership Scope Overview

Focus Area	Details	Impact
Front-end Wafer Fabrication	Production of Nexperia’s MOSFET portfolio at Dholera Fab	Anchors India’s semiconductor manufacturing
Back-end Assembly & Test	Jagiroad, Assam packaging facility	Strengthens indigenous back-end capability
Technology Development	Joint R&D and innovation initiatives	Accelerates ecosystem growth

Industry Impact

• Global Demand Alignment: Addresses rising semiconductor needs in automotive, industrial, consumer, energy, communications, and infrastructure sectors.
• India’s Positioning: Reinforces India’s emergence as a semiconductor hub within the global value chain.
• Customer Benefits: Ensures scalable production pathways and resilient supply chains for Nexperia’s global customers.

About the Companies

• Nexperia: Netherlands-based, shipping over 100 billion products annually, specializing in discrete, power, and analog semiconductors.
• Tata Electronics: Established in 2020, with operations across Gujarat, Assam, Tamil Nadu, and Karnataka, plus offices in the US, Taiwan, and Singapore.

 In summary: This $14 billion partnership combines Nexperia’s global expertise with Tata Electronics’ manufacturing ambitions, creating a resilient, innovation-driven semiconductor ecosystem in India.

Tata Trusts Proposes ₹25,000 Crore Liquidity Plan for SP Group Stake in Tata Sons

At the Board meeting of Tata Sons Private Limited ("Tata Sons") held today, Chairman, Tata Trusts, Mr. Noel N. Tata, tabled a proposal received from the Shapoorji Pallonji Group ("SP Group") regarding monetization of a portion of the Tata Sons shareholding held by Sterling Investments Corporation Private Limited ("SICPL") and Cyrus Investments Private Limited ("CIPL"). This was in the context of meetings and discussions held earlier between Mr. Noel N Tata, Mr. N. Chandrasekaran and Mr. Shapoor Mistry.

The transaction envisages a sale of such number of Tata Sons shares held by SICPL and CIPL as would, at a minimum valuation, as determined in accordance with Rule 11UA of the Income Tax Rules 1962, yield a gross consideration of Rs. 25,000 crores. It was also indicated that the following structure would be acceptable to the SP Group:

• The share buyout would be carried out in two tranches over an eighteen-month period;
• Tata Sons would initiate a selective capital reduction process through the NCLT;
• Valuation of Tata Shares would be done as per Income-tax fair value.

Mr. Noel N. Tata suggested that various avenues could be used for the purpose of raising the funds required for this purpose, including from internal cashflows; sale of listed shares; bringing in an investor into some of the newer businesses and listing, upon an offer for sale, of some of the businesses. He requested the Board to take the necessary steps for initiating the NCLT process and authorise the operating team of Tata Sons and the Tata Trusts to continue discussions with the SP Group, and the bankers, and report to the Board.

This is in continuation and reaffirmation of the Tata Trusts' desire to offer a fair and equitable solution to the SP Group in respect of their holdings in Tata Sons.

About Tata Trusts

Since its inception in 1892, Tata Trusts, India's oldest philanthropic organisation, have played a pioneering role in bringing about an enduring difference in the lives of the communities it serves. Guided by the principles and the vision of proactive philanthropy of the Founder, Jamsetji Tata, the Trusts' purpose is to catalyse development in the areas of health, nutrition, education, water, sanitation and hygiene, livelihood, digital transformation, migration and urban habitat, social justice and inclusion, environment and energy, skill development, sports and arts and culture. The Trusts' programmes,

achieved through direct implementation, partnerships and grant making, are marked by innovations relevant to the country.

For more information please visit: www.tatatrusts.org

Tata Motors Unveils CPCB IV+ Gensets, Engines and Axles at Bauma CONEXPO

Showcases wide range of new-age Gensets, industrial engines and live axles for diverse industries

Tata Motors, India's largest commercial vehicle manufacturer and mobility solutions provider, showcased a comprehensive portfolio of next-generation aggregates at Bauma CONEXPO India 2026. The exhibits include CPCB IV+ (Central Pollution Control Board IV+) compliant Tata Motors Gensets ranging from 10 kVA to 125 kVA, high-performance industrial engines spanning from 0.7L to 3.3L, and the HR 210 Live Axle- India's first hub reduction axle with high localised content. The solutions are designed to address the evolving needs of material handling, construction equipment, industrial applications and logistics segments, and are engineered for reliability, high efficiency and durability in demanding construction environments.

Speaking about the showcase, Mr. Vikram Agrawal, Head – Parts and Aggregates Business, Tata Motors Commercial Vehicles, said, "Bauma CONEXPO is a prominent platform to demonstrate the depth of Tata Motors aggregates portfolio. We have built world-class engineering capabilities in India: engines, gensets, axles that are designed, developed and manufactured in India to perform under the most demanding operating conditions. As the industry is shifting towards continuous, high-intensity project cycles, our customers need solutions they can count on. Our focus is on strengthening our aggregates portfolio and expanding our presence across applications, delivering safer products with better efficiency."

Tata Motors Aggregates at Bauma Conexpo 2026

• Genset Engines: 0.7L 2-cylinder Engine (10-15 kVA), 1.5L 4-cylinder (20-35 kVA), compact, fuel-efficient, and highly dependable
• Industrial Engines: 497 Naturally A (41 kW), 497 TC (74 kW) and 3.3L TC (101.5 kW) - construction, material handling and other industrial applications.
• Tata Motors Gensets: CPCB IV+ compliant with intelligent Remote Monitoring System - 10 kVA to 125 kVA range.
• HR 210 Live Axle: India's first hub reduction axle; indigenous design with high localised content; built for reliable operation in demanding construction environment

Tata Motors aggregates are distinguished by their high durability, efficiency and performance. The industrial engine range is engineered to deliver optimum performance under variable, high-load duty cycles typical of Indian construction environments, while the genset lineup comes fully integrated with intelligent Remote Monitoring Systems (optional for less than 55 kW variants) for real-time diagnostic tracking and remote cost optimisation. These gensets are powered by proven Tata Motors vehicular engine platforms, bringing road-tested reliability to stationary power applications.

About Tata Motors Ltd (Formerly TML Commercial Vehicles Ltd):

Part of the USD 180 billion Tata Group, Tata Motors Ltd., (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest and a globally renowned manufacturer of utility vehicles, pick-ups, trucks, and buses. With over eight decades of leadership in commercial mobility, the company is known for its innovation, reliability, and performance. Its advanced powertrains, connected technologies, and intelligent fleet solutions support a wide range of applications—from last-mile delivery to public transport while seamlessly driving the wheels of the nation’s economy. Guided by its brand promise Better Always, Tata Motors delivers future-ready solutions that enhance customer experience and drive sustainable growth. The company operates in India and South Korea, with a global presence across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.

As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench—amongst Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited—the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the NSE Ltd.

Tata Steel Harnesses AI to Reinvent Industrial Safety

Tata Steel is aggressively scaling up artificial intelligence (AI), connected workforce systems, and remote operations to transform industrial safety, repoored news agency PTI. already deploying over 10,000 AI-enabled CCTV cameras and achieving a 38% reduction in workplace injuries over the past 15 years.

In April this year, Tata steel inked a strategic partnership with Google Cloud to deploy a unified agentic AI across its global value chain, supporting industrial safety and efficiency.

Tata Steel’s achieved of a 38% reduction in Lost Time Injury Frequency Rate (LTIFR) over 15 years, and the steel major attributes it to AI surveillance, connected workforce tracking, and logistics safety systems. 

Key Highlights

• AI Surveillance: More than 10,000 CCTV cameras equipped with AI and computer vision proactively detect unsafe acts and alert supervisors in real time.
• Connected Workforce: AI-enabled gate passes and beacons track personnel movement, ensuring workers remain in authorized safe zones.
• Remote Operations (iRoCs): Integrated Remote Operation Centres consolidate CCTV feeds, machinery data, and environmental inputs, allowing hazardous tasks to be monitored and controlled remotely.
• Safety Record: Tata Steel has achieved a 38% reduction in Lost Time Injury Frequency Rate (LTIFR) across its global operations in the past 15 years.
• Logistics Safety: Around 8,000–10,000 trucks enter Tata Steel plants daily; driver-fatigue monitoring systems detect drowsiness or mobile phone use, triggering alerts.
• Future Vision (2035): Plans include digital twins, autonomous inspections, wearables, and GenAI-enabled safety observation systems.

Safety Technologies in Action

Technology	Application
AI Surveillance	Detects unsafe behavior via 10,000+ cameras; generates instant alerts
Connected Workforce	Gate passes & beacons track worker movement, flagging deviations
Remote Operations	iRoCs monitor hazardous tasks remotely, reducing exposure
Logistics Safety	Driver-fatigue monitoring, overhead cable clearance sensors
Future Tech	Digital twins, autonomous inspections, wearables by 2035

Broader Impact

• Proactive vs. Reactive: Unlike traditional CCTV use for post-incident reviews, Tata Steel’s AI systems aim to prevent accidents before they occur.
• Workforce Appeal: Remote monitoring reduces exposure to hot, noisy environments, making steel industry jobs more attractive to younger workers.
• Sustainability & Compliance: Tata Steel invested over ₹800 crore in FY2025–26 on environment, safety, and compliance projects.

Risks & Challenges

• Data Overload: Managing thousands of camera feeds requires robust AI models; false positives could overwhelm supervisors.
• Privacy Concerns: Tracking worker movements raises questions about surveillance ethics.
• Implementation Costs: Scaling AI and IoT systems across vast industrial sites demands significant capital investment.

Conclusion

Tata Steel’s AI-driven safety transformation marks a paradigm shift in industrial safety, moving from reactive post-incident analysis to predictive, real-time prevention. With connected workforce systems, remote operations, and logistics monitoring, the company is setting a benchmark for global heavy industries — and its 2035 roadmap promises even deeper integration of digital twins and autonomous safety systems.

Tata Power Strengthens NCR Grid with 162 KM Jalpura‑Khurja Transmission Corridor

Tata Power, one of India’s largest integrated power companies has successfully commissioned the second element of its Jalpura-Khurja Transmission Project in Uttar Pradesh, further strengthening the state’s power transmission infrastructure and enhancing connectivity to the growing electricity demand centres across NCR and Western Uttar Pradesh.

Executed through TP Jalpura Khurja Power Transmission Limited (TPJKPTL), a wholly owned subsidiary of Tata Power, the second element comprises a 400 kV double-circuit transmission line from Khurja to Jalpura spanning 162 circuit kilometres (CKM) and a 400/220 kV GIS substation at Jalpura with 1,000 MVA transformation capacity.

The 162 CKM transmission corridor comprises two circuits of approximately 81 km each and establishes a critical high-voltage link between Khurja and Jalpura. Khurja is an important power node in Western Uttar Pradesh, playing a strategic role in enabling efficient transmission of power towards NCR and Noida.

The newly commissioned 400/220 kV GIS substation at Jalpura, with 1,000 MVA transformation capacity, will serve as a major power gateway, enabling the transfer of power from the 400 kV high-voltage grid to the 220 kV network. This will support the region’s increasing power requirements while enhancing the reliability, resilience and efficiency of the transmission network.

With the commissioning of this transmission corridor and substation, Tata Power further strengthens the infrastructure required to support the next phase of growth in NCR and Western Uttar Pradesh, while contributing to the broader objective of building a robust and future-ready electricity grid for India. The project reinforces Tata Power’s capabilities in developing large-scale, critical power infrastructure and its commitment to supporting India’s transition towards a reliable, resilient and future-ready power transmission network.

Tata Power’s transmission portfolio now stands at 7900 circuit kilometres of lines operational and under execution across India, further reinforcing the company’s role in strengthening the nation’s electricity transmission network

Tata Chemicals Secures $110M Soda Ash Contracts via SVM Acquisition in US Bankruptcy Deal

Tata Chemicals Limited ("TCL") today announced that its wholly owned subsidiary, Tata Chemicals North America Inc. ("TCNA"), has been declared the successful bidder in the Chapter 11 bankruptcy proceedings of Searles Valley Minerals Inc. ("SVM"), USA, for the acquisition of North American soda ash customer contracts representing over 500,000 metric tonnes to be serviced from September 2026 through December 2028. These contracts are expected to generate revenues of more than USD 110 million over the contract period.

The acquisition strengthens TCNA's position in the North American soda ash market by expanding its domestic customer base and enhancing long-term customer relationships. The transaction is expected to improve demand visibility, support customer retention, and drive sustainable value creation.

TCNA has entered into an Assignment and Assumption Agreement ("ASA") with Searles Valley Minerals Inc. for the acquisition of certain soda ash customer contracts and related commercial rights. The transaction has been approved by the United States Bankruptcy Court for the District of Delaware with cash consideration payment of USD 21.16 million and remains subject to customary closing conditions under the ASA.

Mr. R. Mukundan, CEO & Managing Director, Tata Chemicals Limited, said: "This acquisition represents a strategic opportunity to strengthen our presence in the North American soda ash market and expand our customer base. The acquired contracts secure over 500,000 metric tonnes of demand and are expected to generate revenues exceeding USD 110 million through December 2028. The transaction enhances our portfolio of long-term customer relationships, improves demand visibility, and reinforces our commitment to delivering reliable supply and superior service. It is aligned with our strategy of driving profitable growth and creating sustainable value for all stakeholders."

About Tata Chemicals Ltd

A part of over US$ 180 billion Tata Group, Tata Chemicals Limited, is a leading supplier of choice to Glass, Detergent, Industrial and Chemical sectors. The company has a strong position in the crop protection business through its subsidiary company, Rallis India Limited. Tata Chemicals has world class R&D facilities in Pune and Bengaluru.

Tata Power Powers Rajasthan With 190 MW Renewable + Storage Breakthrough

Tata Power Renewable Energy Limited (TPREL) has commissioned a landmark 190.5 MW Firm and Dispatchable Renewable Energy (FDRE) project at Kalasar, Bikaner, Rajasthan. Integrated with a 115 MWh Battery Energy Storage System (BESS), the project ensures reliable, round-the-clock renewable power supply to key state discoms.

Firm and Dispatchable Renewable Energy (FDRE) is renewable power engineered to behave like conventional electricity — combining solar, wind, and battery storage to deliver reliable, schedulable supply that utilities can depend on, including during peak demand hours.

FDRE represents the second phase of India’s renewable energy journey: moving from capacity addition to dependability. With installed solar capacity crossing 150 GW in March 2026, FDRE ensures that this massive renewable base can be harnessed in a way utilities can plan around. It is now one of the defining procurement formats in India’s utility‑scale renewable energy market.

Project Overview

• Capacity: 190.5 MW FDRE (part of a larger 460 MW FDRE initiative under SJVN FDRE Tranche-1)
• Location: Kalasar, Bikaner, Rajasthan
• Technology: Advanced Battery Energy Storage System (115 MWh), Harmonic Filter Bank, and Static Var Generator systems
• Beneficiaries: Haryana Power Purchase Centre (HPPC), Maharashtra State Electricity Distribution Company (MSEDCL), and Noida Power Company Limited (NPCL)

Strategic Significance

• Reliable Renewable Supply: FDRE projects overcome intermittency by combining solar with storage, ensuring dispatchable clean energy
• Portfolio Expansion: TPREL’s renewable capacity now stands at 12.4 GW (6.9 GW operational: 5.6 GW solar + 1.3 GW wind; 5.5 GW under implementation)
• National Targets: Supports India’s 500 GW non-fossil fuel capacity goal by 2030 and Tata Power’s Net Zero by 2045 commitment
• Execution Excellence: Despite global supply chain challenges, Tata Power completed the switchyard in 3 months and harmonic filter bank in 1 month

Key Features

Aspect	Details
Capacity	190.5 MW FDRE (part of 460 MW)
Storage	115 MWh Battery Energy Storage System
Location	Kalasar, Bikaner, Rajasthan
Discoms Supplied	HPPC, MSEDCL, NPCL
Operational Portfolio	6.9 GW (5.6 GW solar, 1.3 GW wind)
Future Pipeline	5.5 GW under implementation
Execution Speed	Switchyard in 3 months, Harmonic Filter Bank in 1 month

Challenges Faced

• Global Supply Chain Disruptions: Shortages of transmission materials and mounting structures
• Compressed Timelines: Required accelerated execution and testing
• Grid Integration: Advanced technologies like harmonic filters and static var generators were critical to ensure stability

Broader Context

This commissioning strengthens Tata Power’s role as a leading renewable energy player in India, showcasing innovation in FDRE projects that combine solar with storage for reliability. It highlights India’s growing reliance on dispatchable renewable energy to meet climate goals while ensuring grid stability.

Tata Motors, Drivn Partner to Accelerate EV Fleet Adoption with Custom Leasing Solutions

The partnership will offer customised leasing solutions to speed up EV adoption across commercial fleets

Drivn, an EV leasing platform focused on heavy commercial fleets has signed a Memorandum of Understanding (MoU) with Tata Motors, India’s largest commercial vehicle manufacturer, to explore leasing-based deployment of electric commercial vehicles in India for fleet operators. Under this partnership, Drivn will offer customised leasing solutions for Tata Motors’ electric commercial vehicle portfolio, enabling fleet operators to transition to electric vehicles through simpler and customised financing solutions.

Drivn offers bespoke operating lease solutions tailored to commercial fleet operators. By bridging long-standing gaps across financing, deployment and charging infrastructure, it is helping make the shift to electric simpler and more practical, accelerating fleet electrification across India.

Tata Motors is leading the commercial mobility transition with the widest electric CV portfolio and an ecosystem that makes electrification both practical and profitable. The company works closely with fleet owners to optimise performance, uptime, charging and financing across the lifecycle. As adoption deepens, Tata Motors remains focused on delivering end-to-end solutions that help customers transition confidently to zero-emission mobility.

Speaking on the occasion, Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Ltd., said, “Tata Motors is committed to democratising clean mobility and accelerating India’s transition towards sustainable transportation. Together with Drivn, we aim to make electric trucks more accessible to our customers. Our electric trucks portfolio has been engineered to deliver performance, reliability and operating economics that meet the evolving needs of our customers, while helping them confidently transition to zero-emission technologies.”

Manav Bansal, CEO and Co-founder of Drivn, said, “Making electric fleets commercially viable is key to driving adoption at scale. While there is growing interest from operators, the shift ultimately depends on how practical and accessible these solutions are. Partnering with Tata Motors allows us to combine a strong vehicle portfolio with our leasing model, addressing key barriers such as upfront costs and deployment timelines. Through this partnership, we intend to deploy over 1,000 electric trucks over the next two years, offering fleet operators a clearer and more scalable path to electrification while contributing to the broader growth of the EV ecosystem in India.”

Alpna Jain, Co-founder and Chief Business Officer at Drivn, said, “Electric fleet adoption scales when the right ecosystem comes together for support. With Tata Motors’ strong market presence, fleet operators gain trust and access as we are getting the elements of maintenance of vehicles, uptime as a joint commitment from OEM and combining technology to monitor efficiencies.”

Tata Motors continues to lead the nation’s electric commercial vehicle transition with a robust portfolio. The company newly-introduced a comprehensive portfolio of electric trucks ranging from 7 to 55 tonnes, built on the new I‑MOEV (Intelligent Modular Electric Vehicle) Architecture under the Tata Trucks.ev brand. Engineered for sustainable, efficient and high‑performance operations, these trucks address a wide spectrum of applications including e‑commerce logistics, construction material movement and port operations. Backed by the rapidly growing EV charging infrastructure and a nationwide service network, Tata Motors remains steadfast in its commitment to advancing sustainable mobility and strengthening India’s green transportation ecosystem.

About Drivn:

Drivn is building India’s operational and financial backbone for commercial electric mobility. The company acquires, owns, and leases electric buses and trucks, supported by an integrated tech stack model that includes planning charging infrastructure, battery lifecycle management, fleet operations, and end-of-life solutions. Its OEM-agnostic approach is purpose-built for intercity transport operators, logistics providers, and asset-intensive industries transitioning to electric fleets at scale.

Backed by global institutional investors, Drivn combines institutional capital with deep tech capability. Its proprietary platform and on-ground operating data better asset utilisation, efficiency, and performance that large fleets demand, supporting customers across sectors such as intercity bus transportation, logistics, ecommerce, cement, and steel.

About Tata Motors Ltd (Formerly TML Commercial Vehicles Ltd):

Part of the USD 180 billion Tata Group, Tata Motors Ltd., (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest and a globally renowned manufacturer of utility vehicles, pick-ups, trucks, and buses. With over eight decades of leadership in commercial mobility, the company is known for its innovation, reliability, and performance. Its advanced powertrains, connected technologies, and intelligent fleet solutions support a wide range of applications—from last-mile delivery to public transport while seamlessly driving the wheels of the nation’s economy. Guided by its brand promise Better Always, Tata Motors delivers future-ready solutions that enhance customer experience and drive sustainable growth. The company operates in India and South Korea, with a global presence across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.

As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench—amongst Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited—the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the National Stock Exchange of India Limited.

Tata Power Plans First Solar Exports To Europe, As EU Seeks Shift Beyond China

Tata Power is preparing to export solar equipment to Europe for the first time taking advantage of the European Union’s push to reduce dependence on Chinese suppliers under the Net-Zero Industry Act, reported Reuters citing CEO Praveer Sinha. In 2023, nearly 94 percent of the EU’s solar modules and cells were imported from China, but new diversification policies and trade agreements have opened the door for Indian manufacturers. Italy has already created space for non-Chinese solar projects, making it a key entry point for Tata Power.

The company currently has 4.9 GW of integrated cell and module capacity and is working toward expanding to 10 GW of ingot and wafer production. Its initial export target is between 2 and 3 GW of solar cells and panels to Italy, with potential expansion across Europe. India’s broader solar manufacturing base, with 200 GW of module capacity and 30 GW of cell capacity, positions the country as a credible alternative supplier.

While this marks a significant opportunity for India’s renewable sector, challenges remain. Chinese modules are still cheaper, and EU certification requirements could slow entry. Tata Power’s ability to scale production quickly will be critical to meeting demand. If successful, this move strengthens India’s role as a global renewable hub and aligns with its domestic clean energy ambitions while opening new export revenue streams.

The India-EU Trade Deal

India and the European Union concluded negotiations for a landmark Free Trade Agreement (FTA) in January 2026, with formal signing scheduled by the end of 2026 and implementation in early 2027. The deal grants duty‑free access to 93% of Indian exports to the EU and significantly lowers tariffs on European goods entering India.

Key Features of the India–EU Trade Deal 2026

Market Access

• Indian exports: About 93% of shipments will enter the EU with zero duties, covering textiles, leather, marine products, gems, jewellery, and other labour‑intensive sectors.
• EU exports: Tariffs will be eliminated or reduced on 96.6% of EU goods exports to India, saving European exporters an estimated €4 billion annually.

Tariff Reductions

• Luxury cars: Import duties in India will drop from 110% to as low as 10% over time.
• Wines: Tariffs reduced from 150% to 75% initially, eventually reaching 20%.
• Olive oil: Duties cut from 45% to zero within five years.
• Processed foods: Tariffs up to 50% eliminated.

Strategic Impact

• Creates one of the world’s largest trade partnerships, covering nearly 2 billion people and about 25% of global GDP.
• Strengthens supply chain resilience, technology collaboration, and investment flows under the India–EU Trade and Technology Council.
• Positions India as a major hub for clean energy, biotech, semiconductors, and services exports, while giving EU firms privileged access to India’s fast‑growing market.

Comparison: Benefits for India vs EU

Benefit	India	EU
Export Access	93% duty‑free entry into EU	Wider access to Indian services market
Tariff Savings	Boost for textiles, gems, marine products	€4 billion annual savings on duties
Luxury Goods	Cheaper imports of cars, wines, olive oil	Expanded consumer base in India
Strategic Position	Integration into EU value chains	Doubling of goods exports to India by 2032

Tata Enters Shipbuilding with ₹10,000 Cr Kerala Yard

Tata Group is set to make its first-ever entry into shipbuilding with a massive ₹10,000 crore investment in Kerala, anchored around the Vizhinjam International Seaport, reported Deccan Herald and other local media outlets. The Kerala government has confirmed land allocation and expects to approve the project within a month, marking a historic expansion of Tata’s industrial portfolio.

According to the report, Kerala CM V.D. Satheesan said the state is looking at the proposal positively and aims to clear approval within a month.

The Kerala government has committed to providing land for the project, calling it a crucial investment in the state’s maritime future. Tata Group has submitted a proposal to establish a shipyard, though the exact location has not been disclosed. The company has yet to issue an official statement, while the government has asked Tata to furnish a detailed project report.

Notably, Vizhinjam International Seaport is owned and operated by Adani Vizhinjam Port Pvt. Ltd., a subsidiary of Adani Ports and Special Economic Zone (APSEZ). The project was developed under a Public‑Private Partnership (PPP) model with the Government of Kerala.

Adani Ports’ Vizhinjam International Seaport in Kerala is at the center of a major controversy after announcing a proposed 49% stake sale to Mediterranean Shipping Company (MSC) for $1.4 billion, triggering political backlash and government scrutiny. The Kerala government insists that such a transfer requires its prior approval.

Key Highlights of the Tata's Kerala Shipyard Deal

• Investment Size: ₹10,000 crore (~$1 billion)
• Sector Entry: Tata’s first venture into shipbuilding, diversifying beyond steel, autos, and aviation
• Location: Likely near Vizhinjam International Seaport, though final site not disclosed
• Government Role: Kerala will provide land and act as a proactive facilitator
• Approval Timeline: Expected within one month
• Strategic Context: Boosted by Vizhinjam port’s operationalization, part of Kerala’s Mission Samudra 2026

Strategic Importance

• National Maritime Push: India aims to be among the top five shipbuilding nations by 2047
• Kerala’s Vision: Mission Samudra integrates 600 km coastline, 2 international seaports, 17 mini ports
• Global Competition: South Korea’s HD Hyundai investing ₹38,000 crore in Tamil Nadu
• Complementary Industries: Tata Steel already supplies high-strength shipbuilding steel

Risks & Challenges

• Approval Dependencies: Final clearance needed from both state and central government
• Execution Timeline: No production start date announced; delays could slow rollout
• Competitive Landscape: Adani’s Vizhinjam port and MSC’s $1.4 billion stake add pressure
• Global Market: India faces stiff competition from China, South Korea, and Japan

Comparison: Tata vs Existing Players

Company	Investment	Location	Focus	Status
Tata Group	₹10,000 cr	Kerala (Vizhinjam)	Commercial shipbuilding	Awaiting approval
Cochin Shipyard	PSU	Kochi	Defence & commercial vessels	Operational (INS Vikrant built)
Adani Vizhinjam Port	$1.4 bn (MSC stake)	Kerala	Transshipment hub	Operational, expansion ongoing
HD Hyundai	₹38,000 cr	Tamil Nadu	Global shipbuilding hub	Announced
AP Shipbuilding Hub	₹30,000 cr	Andhra Pradesh	Defence & commercial	In planning

Outlook

• If approved, Tata’s Kerala shipyard will be a game-changer for India’s maritime ambitions
• It positions Kerala as a maritime powerhouse alongside Tamil Nadu and Andhra Pradesh
• Diversifies Tata’s portfolio into a sector critical for India’s global trade strategy

Tata Power Launches Vidyut Dhaara, a Social Impact Expression, With a Vision to Empower a Billion Lives

• Vidyut Dhaara embodies the Company's commitment to creating meaningful social impact deeply embedded into its business purpose of providing sustainable, affordable, and innovative energy solutions.
• Created in collaboration with Swarathma and Music Boutique, the film is a sparkling musical mosaic of inclusion, opportunity, livelihoods epitomising the endless possibilities unlocked by flowing energy.

Where does the energy we generate truly flow? For most people, the journey of energy ends when a light turns on, a machine starts running, or a home is powered. For Tata Power, that journey continues much further. It continues into classrooms where young minds discover new possibilities. Into livelihoods that help families build a better future. Into communities that become more inclusive, resilient, and empowered. And into collective efforts that create a more sustainable tomorrow.

As Tata Power's footprint expanded across geographies and businesses over its century-long legacy, so did the stories of impact emerge from the energy ecosystem it powers every day.

Vidyut Dhaara was conceived as a unified expression of these stories - a reflection of Tata Power's vision to empower a billion lives through sustainable, affordable and innovative energy solutions, and of its promise to power not just homes and industries, but a billion aspirations, every hour, every day, for life.

Rooted in the belief that social impact is not separate from business but a natural extension of it, Vidyut Dhaara carries the same conviction that runs through every part of the Company's operations and reflects how the flow of energy creates value beyond electricity: through learning, livelihoods, inclusion, entrepreneurship, and sustainability.

Through Vidyut Dhaara, Tata Power reaffirms its commitment to powering not just homes, industries, and businesses, but also aspirations, opportunities, and sustainable futures, carrying forward its Founder Jamsetji Tata's belief that a business holds its wealth in trust for the community it serves. The film marks a new chapter in the Company's purpose led storytelling journey, bringing alive the transformative role of energy in shaping lives and communities across India.

Vidyut Dhaara reflects how energy powers aspirations beyond the grid. The expression is introduced through an original film and title song that weave together stories of opportunity, resilience, inclusion, and sustainable progress.

At the heart of the film is Dhaara, a young protagonist whose journey threads through classrooms, workshops, fields, and communities - tracing, quite literally, where energy goes once it leaves the grid. As she moves from one story to the next, her journey becomes a lens into the many ways energy transforms lives: opening doors to skill and opportunity, turning entrepreneurship into independence, making space for inclusion, and inspiring a generation to protect the planet they will inherit.

Set against the backdrop of Tata Power's legacy hydro landscapes and the renewable future being built through solar, hydro, and wind energy, the film seamlessly weaves together stories from some of the Company's flagship initiatives. These include Tata Power Skill Development Institute (TPSDI), which equips youth with green jobs and power sector skills; Anokha Dhaaga, Tata Power's flagship micro collective capacity building and entrepreneurship initiative that creates sustainable livelihoods; Pay Autention, a pioneering initiative focused on neurodiversity awareness, inclusion, and empowerment; and Club Enerji, Tata Power's long standing energy and sustainability literacy programme that inspires young minds to become champions of conservation and climate action.

To bring Vidyut Dhaara to life as an immersive experience, Tata Power partnered with Swarathma, the contemporary folk-rock band known for blending storytelling with social consciousness. The collaboration resulted in an original composition that serves as the narrative thread of the film, carrying viewers through stories of hope, resilience, and transformation.

Tata Power’s commitment to sustainable progress extends directly into its clean energy roadmap. The Company has committed to increasing the share of clean and green capacity in its portfolio to 70% by 2030 - a goal that makes the language of sustainable progress something the Company can be held to, not just something it speaks to. Vidyut Dhaara is the human face of that same transition, a reminder that the shift toward cleaner energy and the shift toward more inclusive, empowered communities are, in fact, the same journey.

At its core, Vidyut Dhaara embodies Tata Power's belief that sustainable progress is created when business purpose and community aspirations move forward together.

Link of the video: https://webappsprd.tatapower.com/content/video/links/vindex715.html

Tata Sons Pumps ₹5,166 Crore Into Tata Teleservices to Tackle AGR Dues, Stake Rises to 94.3%

Tata Sons has infused ₹5,166 crore into its loss-making telecom arm, Tata Teleservices, during FY26, raising its stake to 94.3% and enabling the company to pay ₹3,517 crore in adjusted gross revenue (AGR) dues to the government. This move underscores Tata’s continued financial support for struggling group businesses like Air India, Tata Digital, and Tata Teleservices.

This news of funds infusion was first reported by The Financial Express on June 5, 2026, based on company filings and a Tata Sons spokesperson’s confirmation. There was no official Tata Sons press release, only media disclosure backed by direct confirmation.

Key Details of the Infusion

• Amount infused: ₹5,166 crore (March 2026, via preferential allotment of shares at ₹10 face value)
• Purpose: Payment of AGR dues — first instalment of ₹3,517 crore paid by March 31, 2026
• Stakeholding: Tata Sons’ stake in Tata Teleservices increased to 94.3%
• Financials (FY26):
  • Standalone income: ₹2,322 crore
  • Standalone net loss: ₹1,907 crore
  • Consolidated income: ₹3,641 crore
  • Consolidated net loss: ₹1,482 crore

Context & Background

• AGR liabilities: Tata Tele faces six instalments of AGR dues, part of a cumulative liability exceeding ₹19,000 crore
• Past support: Tata Sons repaid Tata Tele’s loans and bought back NTT Docomo’s stake for $1.18 billion in 2017
• Business model today: Operates under Tata Tele Business Services (TTBS), offering enterprise voice, data, and managed services
• Wireless exit: Tata Tele exited consumer wireless services in 2019, transferring operations to Bharti Airtel

Strategic Implications

• Group-wide revival focus: Tata Sons’ board is reviewing revival plans for Air India, Tata Digital, and Tata Electronics alongside Tata Tele
• Profit outlook: Air India and Tata Digital expected to remain loss-making for three years; Tata Electronics may turn marginally profitable
• Telecom industry strain: AGR dues continue to weigh heavily on Indian telcos, with Supreme Court rejecting waiver pleas

Risks & Challenges

• Persistent losses: Despite infusion, Tata Tele remains deeply loss-making with negative net worth
• AGR burden: Long-term liabilities (₹19,000+ crore) could require further capital support
• Sectoral headwinds: Telecom industry faces high regulatory costs, intense competition, and limited profitability

Quick Comparison: Tata Group’s Loss-Making Arms

Company	FY26 Loss	Revival Outlook
Tata Teleservices	₹1,907 crore (standalone)	Enterprise services focus; AGR dues repayment ongoing
Air India	Losses projected for 3 years	Fleet expansion, operational restructuring
Tata Digital	Losses projected for 3 years	Pivot away from super-app model
Tata Electronics	Marginal profit expected	Supported by semiconductor subsidies

Tata Technologies Gains SAP PartnerEdge Sell Authorization in India and US to Drive Cloud ERP Transformation

• Strengthens Tata Technologies’ position within the SAP ecosystem with end-to-end capabilities spanning advisory, implementation, and value realization. 
• Enables enterprises to accelerate SAP Cloud ERP adoption and modernize digital core for real-time, data-driven decision-making. 
• Enhances ability to embed SAP Business AI and intelligent automation across enterprise workflows for improved productivity and scalability

Tata Technologies Limited (BSE: 544028, NSE: TATATECH), a leading global product engineering and digital services company, today announced that it has secured SAP PartnerEdge Sell authorization across India and the United States, strengthening its strategic role within the SAP ecosystem.

This authorization marks a significant evolution in Tata Technologies’ go-to-market strategy, transitioning from a services-led model to a solution-led, outcome-driven approach. Under this model, Tata Technologies will lead customer engagements across the full lifecycle, including solution advisory, cloud ERP transformation, solution design, and value realization.

With this authorization, Tata Technologies enhances its ability to accelerate enterprise-wide transformation powered by the SAP Business Suite portfolio. Tata Technologies will support enterprises in modernizing their digital core with SAP Cloud ERP, enabling real-time, data-driven decision-making and scalable operations aligned with SAP’s vision of the Autonomous Enterprise.

Leveraging its deep expertise in manufacturing, Tata Technologies enables global OEMs and enterprises to reduce implementation risks and accelerate SAP Cloud ERP adoption. By serving as a single partner across the SAP journey, from advisory and business case development to implementation and value realization, Tata Technologies ensures seamless and outcome-focused transformation.

As part of this collaboration, Tata Technologies will help organizations harness SAP Business AI to embed intelligent capabilities into enterprise workflows. This includes leveraging Joule, SAP’s AI-enabled business assistant, to enhance productivity, automate processes, and accelerate decision-making.

Through integration with the SAP Business Technology Platform, Tata Technologies enables enterprises to extend and innovate across their SAP landscapes, unlocking actionable insights while maintaining a resilient and scalable digital core.

Aligned with SAP’s Clean Core strategy, Tata Technologies supports enterprises in adopting innovation without disrupting legacy systems, ensuring standardized, upgrade-stable environments that are agile and future-ready.

Mr. Warren Harris, MD & CEO, Tata Technologies, said, “The future belongs to enterprises that innovate faster, operate smarter, and scale sustainably. Expanding our SAP PartnerEdge partnership with a Sell authorization enables us to deliver transformative solutions that help customers reimagine their businesses and stay ahead in an increasingly digital world.”

This authorization reinforces Tata Technologies’ position as a trusted global partner for enterprise and AI-led transformation.

Tata Electronics to Launch Chip Packaging at ₹27,120 Cr Assam Facility by 2026

Tata Electronics is set to begin semiconductor chip packaging at its upcoming ₹27,120 crore OSAT facility in Jagiroad, Assam, with early qualification already underway to fast-track operations reported media outlets including the Economic Times. The plant is expected to start large-scale production by the end of 2026, serving global automotive and industrial clients.

Key Highlights of the Assam Unit

• Location: Jagiroad, Assam
• Investment: ₹27,120 crore
• Facility Size: ~1 million sq. ft. of cleanroom space
• Production Capacity: Up to 48 million chips per day once fully operational
• Timeline: Early qualification underway; full-scale operations targeted by end of 2026
• Sectors Served: Automotive, industrial, telecom, consumer electronics, AI-driven devices

Strategic Importance

• Global Trust Building: Tata Electronics is shifting a product line from its Vemagal, Karnataka OSAT unit to Assam to showcase scalability and reliability to overseas clients.
• Technology Transfer: A team from Vemagal will relocate to Jagiroad to replicate operations and accelerate readiness.
• National Push: Strengthens India’s semiconductor ecosystem under the India Semiconductor Mission, aligning with PM Modi’s vision of technological self-reliance.

Technical Features

• Packaging Technologies: Wire Bond, Flip Chip, and Integrated Systems Packaging (ISP) with plans for advanced packaging expansion.
• Cleanroom Qualification: Early validation ensures compliance with global standards, reducing risks of costly re-engineering.
• Partnerships: MoU signed with ASML for lithography systems, strengthening India’s semiconductor supply chain.

Comparison: Karnataka vs Assam Facilities

Facility	Location	Scale	Focus	Status
Vemagal OSAT	Karnataka	Small-scale	Initial shipments	Operational
Jagiroad OSAT	Assam	Large-scale (₹27,120 cr)	Automotive & industrial	Early qualification, full ops by end-2026

Risks & Challenges

• Execution Timeline: Early qualification helps, but delays in equipment installation could push back full-scale rollout.
• Global Competition: Competing with established OSAT giants in Taiwan and South Korea.
• Supply Chain Dependence: Smooth integration with upstream wafer fabs and downstream electronics manufacturers is critical.

Tata Power, DGPC Launch Training Ecosystem to Support Bhutan’s 5,000 MW Clean Energy Vision

• Aim to build a future-ready workforce to support the operation and maintenance of large-scale clean energy assets under the strategic partnership
• Hon’ble Prime Minister of Bhutan, Lyonchhen Tshering Tobgay, graced the MoU signing ceremony at Thimphu
• Training programmes will be delivered through Tata Power Skill Development Institute

Tata Power, one of India’s largest integrated power utilities, and Druk Green Power Corporation (DGPC), the sole power generation utility of Bhutan, signed a Memorandum of Understanding (MoU) in Thimphu, Bhutan, to establish a comprehensive skill development ecosystem.

The MoU lays the foundation for a structured training framework aimed at building a future-ready workforce to address both immediate and long-term requirements under the ongoing partnership between Tata Power and DGPC to jointly develop clean energy projects.

The MoU signing ceremony, was graced by the Hon’ble Prime Minister of Bhutan, Lyonchhen Tshering Tobgay. The MoU was formally signed by Dr Praveer Sinha, CEO & Managing Director, Tata Power, and Dasho Chhewang Rinzin, Managing Director, DGPC. Ms Anjali Pandey, President- Generation, Tata Power, along with other senior representatives from Tata Power, DGPC, and relevant institutions, were also present at the ceremony.

Training programmes will be delivered through the Tata Power Skill Development Institute (TPSDI), leveraging its expertise in power sector skilling.

Dr Praveer Sinha, CEO & Managing Director, Tata Power, said “This partnership with DGPC underscores our collective vision of creating a future-ready talent ecosystem for Bhutan’s growing clean energy sector. Leveraging its strong credentials in power sector training, Tata Power Skill Development Institute (TPSDI) will help nurture industry-ready professionals with comprehensive expertise in safe operations, emerging technologies, and operations & maintenance.”

Tata Power will provide technical expertise, training infrastructure, courseware, and accreditation support through TPSDI for the effective implementation of the programmes. DGPC will facilitate the mobilisation and deployment of trainees, ensuring seamless execution under the MoU and subsequent definitive agreements.

DGPC will also be responsible for securing all necessary approvals from the Government of Bhutan and relevant Bhutanese authorities, while Tata Power will obtain the requisite approvals from the Government of India.

Dasho Chhewang Rinzin, Managing Director, DGPC, said, “This MoU is a practical step towards strengthening local capabilities required under the ongoing partnership to develop 5,000 MW of clean energy capacity. DGPC will work with relevant Bhutanese authorities and stakeholders to identify training needs, mobilise trainees where appropriate, and ensure that the programme supports national priorities and complements the Royal Government of Bhutan’s broader workforce development efforts.”

The proposed skill development initiatives under this MoU will be implemented in a phased manner:

• Phase 1: Focus on immediate deployment of safety training to ensure workforce readiness prior to site entry, including mandatory safety induction programmes for project workers.
• Phase 2: Expansion into technical skill development covering construction, material handling, and earth-moving equipment operations, tailored to project construction requirements.
• Phase 3: Development of specialised capabilities for the long-term operation and maintenance of clean energy assets.

Tata Power Skill Development Institute (TPSDI) was established to bridge the skill gap in the power sector by delivering industry-relevant, modular training and certification programmes. TPSDI is accredited by the National Safety Council of India (NSC) to conduct safety training, administer assessments, and issue joint certifications. As an approved training partner of the National Skill Development Corporation (NSDC) and a Dual Awarding Body recognised by the National Council for Vocational Education and Training (NCVET), TPSDI operates a robust training network across India, offering hands-on training across the power value chain, including thermal, hydel, and renewable energy technologies such as solar, wind, and green hydrogen.

This MoU reflects a collaborative and practical approach to developing the skills required for Bhutan’s clean energy growth, with DGPC working alongside relevant Bhutanese authorities and Tata Power providing technical training support.

Tata Motors Q4 FY26 Results: Record Revenue, Strong Margins, Landmark Growth

• CV Standalone Financials: Focus on profitable growth drives robust financial results
• Q4: Revenue ₹24.5K Cr (+22%), EBITDA at ₹3.4K Cr (+35%), PBT (bei) ₹3.0K Cr (up ₹1,089 Cr)
• FY26: Revenue ₹77.4K Cr (+11%), EBITDA at ₹10.2K Cr (+22%), PBT (bei) ₹8.7K Cr (up ₹2,721 Cr), FCF ₹9.2K Cr (up ₹2.2K Cr)

Tata Motors Ltd. (TML) announced its results for quarter and year ending March 31, 2026.

STANDALONE INCLUDING JOINT OPERATIONS TATA CUMMINS - KEY FINANCIALS

	Q4 FY25	Q4 FY26	FY25*	FY26	Q4 vs Q4 YoY	FY26 vs FY25 YoY
Revenue (Rs. Cr.)	19,999	24,452	69,419	77,399	4,453 (+22%)	7,980 (+11%)
EBITDA %	12.60%	13.90%	12.0%	13.20%	130 bps	120 bps
EBIT %	9.90%	12.10%	9.20%	11.00%	220 bps	180 bps
PBT (bei) (Rs. Cr.)	1,883	2,972	5,961	8,682	1,089 (+58%)	2,721 (+46%)
FCF (Rs. Cr.)	5,352	4,016	7,007	9,186	(1,336)	2,179

*Q1 FY25 numbers included within FY25 numbers are derived

Summary:

Tata Motors Standalone delivered a record Q4 FY26 performance and a strong full year, underpinned by disciplined execution and focus on profitable growth. Quarterly revenue stood at ₹24.5K Cr (+22%), with EBITDA at ₹3.4K Cr (+35%). The Company achieved teens EBITDA margin at 13.9% (+130 bps), ahead of its mid-term guidance. EBIT margin expanded to 12.1% (+220 bps). PBT (bei) for the quarter stood at ₹3.0K Cr (+58%). Profit after tax for the quarter was ₹2.4K Cr (+70%).

For the full year FY26, revenue stood at ₹77.4K Cr (+11%), with EBITDA of ₹10.2K Cr (+22%) and EBITDA margin at 13.2% (+120 bps). EBIT margin for FY26 stood at 11.0% (+180 bps). PBT (bei) for the full year came in at ₹8.7K Cr (+46%). Profit after tax for the year was ₹3.4K Cr (-23%) including the impact of ₹3.7K Cr on account of exceptional items.

Strong operational performance and efficient working capital management through the year resulted in consistent growth in full year Free Cash Flow of ₹9.2K Cr (+₹2.2K Cr). Net cash for the domestic business stood at ₹7.5K Cr as of March 31, 2026. Auto ROCE of 72% in FY26 (vs. 61% in FY25).

Consolidated financials:  Consolidated revenues for Q4 FY26 stood at ₹26.1K Cr (+19%). EBITDA margin stood at 13.1% (+150 bps) while EBIT margin came in at 11.5% (+230 bps). PBT (bei) for the quarter was ₹2.4K Cr (+29%) and Profit after tax stood at ₹1.8K Cr (+35%). As at March 31, 2026, the Company was Net Cash positive at ₹13.7K Cr. This included TMF Holdings gross debt less market value of TMF Holdings investments in Tata Capital Ltd.

For the full year FY26, consolidated revenues stood at ₹83.9K Cr. EBITDA margin was 12.3% and EBIT margin was 10.2%. Full year PBT (bei) was ₹6.1K Cr (+7%) while Profit after tax stood at ₹3.0K Cr (-24%), including the impact of ₹1.4K Cr. on account of exceptional items pertaining to New Labor Code, demerger related costs etc.

Dividends: The Board of Directors has recommended a final dividend of ₹4/- per share.

Corporate Actions:

Iveco update: Regulatory approvals for the proposed acquisition of Iveco are underway. Tata Motors expects to complete the transaction by Q2 FY27.

Business Highlights for the year:

• CV segment wholesales for Q4 FY26 stood at 132K units (+25%). For FY26, total wholesales were 428K units (+14%).
• Domestic & Export volumes up by 12% and 54% YoY respectively.
• Overall domestic CV VAHAN market share for FY26 stood at 35.7%. HCV 55.0%, ILMCV 39.5%, SCV 26.8%, Passenger 36.4%
• Launched 17 Next-Generation Trucks
• Launched Ace Pro range
• Secured order for 70,000 Yodha and Ultra T.7 Vehicles for Indonesia
• Won pan-India orders of over 5,000 buses
• Pantnagar plant wins Golden Peacock award
• Won Top honours at Apollo CV Awards 2026

Leadership Commentary:

FY26 marked a clear inflection point for the commercial vehicles industry, with volumes surpassing the pre-FY19 peak, supported by GST 2.0 reforms and sustained infrastructure spending.

— Girish Wagh, MD & CEO, Tata Motors Ltd.

FY26 marked a strong financial performance with robust EBITDA, profit and free cash flow. EBITDA margins in Q4 FY26 crossed 'teens' at 13.9% while full year FCF translated to ~12% of revenue.

— GV Ramanan, CFO, Tata Motors Ltd.

Additional Commentary on Financials (Consolidated Numbers, IND AS)

• Finance Costs dropped to ₹166 Cr in Q4 FY26 vs ₹319 Cr in Q4 FY25.
• Free Cash Flow for Q4 FY26 was ₹8.0K Cr and full year ₹12.4K Cr.
• Net cash as at 31st March 2026 was ₹13.7K Cr (including leases ₹798 Cr).

How Tata and JSW Partnership Will Reduce Reliance on China

Tata and JSW’s recent ~ $1 billion EV and battery R&D investments are aimed at building domestic capabilities in India—developing local battery chemistries, intellectual property, and EV systems—to reduce dependence on Chinese technology, which currently dominates global supply chains.

Why This Partnership Matters

• China’s dominance:   China controls over 70% of global EV battery production and is tightening restrictions on technology exports.
• India’s vulnerability: Most advanced chemistries (like LFP and LMFP) are sourced from China, leaving India exposed to supply chain shocks.
• Strategic response: Tata and JSW are investing in domestic R&D hubs to secure “chemistry sovereignty” and indigenize EV platforms.

Tata’s Role

• Agratas Ltd. (Battery Arm):
  • Investing $400M+ in Bengaluru R&D.
  • Focus: Lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) chemistries.
  • Goal: Develop in‑house IP and manufacture cells domestically, reducing reliance on Chinese imports.
• Global R&D footprint: Labs in Oxford and Bengaluru to accelerate innovation.

JSW’s Role

• JSW Motors Ltd.:
  • Investing $500M in Maharashtra R&D hub over 5–6 years.
  • Focus: Localized EV designs, proprietary software, and connected vehicle technologies.
  • Goal: Build indigenous EV systems tailored to Indian conditions, reducing dependence on foreign tech.

Comparative Snapshot

Company	Investment	Location	Focus	China Reliance Reduced By
Tata Agratas	$400M+	Bengaluru	LFP & LMFP battery chemistries	Domestic R&D → local cell manufacturing
JSW Motors	$500M	Maharashtra	EV localization & software	Indigenous EV platforms → less dependence on foreign tech

Strategic Impact

• Supply Chain Resilience: India gains control over critical EV components.
• Intellectual Property Creation: Prevents reliance on Chinese licensing.
• Export Potential: Localized EV systems could be adapted for other emerging markets.

Risks & Challenges

• Critical minerals: India still imports lithium, cobalt, and manganese.
• Scaling R&D: Moving from lab innovation to mass production is capital‑intensive.
• Global competition: China, South Korea, and Europe remain ahead in advanced EV technologies.

In summary: Tata and JSW’s partnership is India’s most ambitious EV R&D push yet, designed to reduce reliance on China by creating local battery chemistries, proprietary EV systems, and intellectual property—laying the foundation for long‑term supply chain independence.

Tata and JSW Pledge $1 Billion to Power India’s EV and Battery Future

Tata Group and JSW Group are jointly planning nearly $1 billion in investments to build India’s domestic EV and battery technology capabilities, with Tata’s Agratas unit focusing on advanced lithium chemistries in Bengaluru and JSW Motors establishing a $500 million R&D hub in Maharashtra.

Key Details

• Total Investment: ~$1 billion (₹8,300 crore).
• Tata Group (Agratas Ltd.):
  • Spending $400+ million on a new R&D facility in Bengaluru.
  • Focus: Lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) chemistries.
  • Goal: Reduce reliance on Chinese imports, build domestic IP, and support Tata’s upcoming gigafactory in Gujarat.
• JSW Group (JSW Motors Ltd.):
  • Investing $500 million over 5–6 years in a Maharashtra research hub.
  • Focus: Localizing EV designs, proprietary software, and connected vehicle technologies.
  • Aim: Strengthen India’s EV ecosystem and reduce dependence on foreign tech.

Strategic Significance

• Reducing China Dependence: Both conglomerates are targeting chemistries and systems currently sourced from China, aligning with India’s push for “chemistry sovereignty.”
• Domestic Capability: Batteries are the costliest and most complex EV component; local R&D will help India secure supply chains and intellectual property.
• Global Context: China is tightening controls on advanced tech exports amid trade tensions, making domestic innovation critical for India’s EV future.

Comparison of Tata vs JSW Plans

Company	Investment	Location	Focus Areas	Strategic Goal
Tata Agratas Ltd.	$400M+	Bengaluru	LFP & LMFP battery chemistries	Build IP, support gigafactory, reduce China reliance
JSW Motors Ltd.	$500M	Maharashtra	EV localization, software, connected vehicles	Domestic EV systems, exportable designs

Risks & Challenges

• Technology Scaling: Transitioning lab R&D into mass manufacturing is capital-intensive and risky.
• Supply Chain: Securing critical minerals (lithium, cobalt, manganese) remains a challenge.
• Global Competition: India must compete with established EV hubs in China, South Korea, and Europe.

Why This Matters

• Strengthens India’s EV supply chain resilience.
• Supports India’s 2030 target of 500 GW non‑fossil fuel capacity.
• Positions Tata and JSW as leaders in domestic EV innovation, reducing vulnerability to external shocks.

JSW Group has forged multiple partnerships in the EV and automotive space, including a joint venture with MG Motor India (SAIC), a technology transfer agreement with China’s Chery Automobile, and a strategic alliance with Tata Elxsi to build connected, software‑defined mobility solutions. These collaborations position JSW as a new challenger in India’s fast‑growing EV market.

Tata Group has built a wide EV ecosystem through partnerships across charging, components, and battery technology—working with Tata Power, Tata AutoComp Systems, and Agratas—while also collaborating with global players like Jaguar Land Rover (JLR) to accelerate electrification.

Tata Chemicals Posts ₹3,438 Cr Q4 Revenue, Recommends ₹11 Dividend Amid Global Soda Ash Headwinds

• Consolidated revenue from operations for the quarter ended March 31, 2026 at ₹ 3,438 Cr and EBITDA at ₹ 274 Cr
• Mithapur facility (India) achieved production of 1 MTPA of Soda Ash in FY26
• Board recommends dividend of ₹ 11 per share

Tata Chemicals Limited today declared its financial results for the quarter and year ended March 31, 2026.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals Limited, said, "During Q4FY26 the global soda ash markets remained adequately supplied and the supply overhang continue to exert pressure on pricing. The challenging external environment amid ongoing geopolitical tensions in the Middle East led to uncertainty and limited visibility on any immediate change in market conditions.

Despite the challenging external environment, the Company's standalone performance has been supported by higher volumes and disciplined cost management, resulting in a resilient operating performance. Mithapur facility (India) achieved production of 1 MTPA of Soda Ash during FY26. However, the Company's consolidated performance has been sharply impacted by continuing unsustainable unremunerative prices across geographies particularly in Southeast Asia. In US, impairment charge of ₹ 1,837 Cr of goodwill & ₹ 182 Cr of deferred tax assets write-off recognized amidst the current soda ash export market conditions.

We successfully completed the acquisition of Novabay Pte. Limited, Singapore during the quarter, as announced earlier. This acquisition aligns with our strategy of expanding high-margin specialty chemicals and strengthening our presence in key global markets. It enhances our ability to offer differentiated, value-added solutions and supports our long-term growth agenda.

The Board also approved a ₹100 crore investment to debottleneck salt capacity at our Mithapur plant by 82,500 TPA. This will strengthen our core consumer products portfolio and support long-term, sustainable growth while meeting rising demand for high-quality iodised salt.

In the midst of a challenging and volatile operating environment, our focus remains resolutely on safeguarding margins, preserving cash flows, and maintaining a strong and resilient balance sheet. We are navigating this phase with prudence and disciplined capital deployment. These actions are aimed at reinforcing the Company's financial strength and positioning us to emerge from the current cycle with sustained stability and long-term value creation for our investors.

Consolidated Highlights Q4 FY26

• Revenue from operations at ₹ 3,438 Cr, down by 2% compared to Q4FY25, driven by lower realization (mainly due to lower exports from US), offset by higher volumes in India.
• EBITDA at ₹ 274 Cr as compared to ₹ 327 Cr in Q4FY25, mainly on account of subdued pricing across all geographies and increase in fixed cost (also due to steep depreciation of Indian Rupee) as compared to Q4FY25.
• An exceptional charge of ₹ 1,837 Cr is provided on account of impairment of goodwill in US & ₹159 Cr of deferred tax assets write off.
• Profit After Tax (before exceptional items and NCI) at ₹ (279) Cr compared to ₹ (12) Cr for Q4FY25.
• Net debt (without leases) as on March 31, 2026, stood at ₹ 5,961 Cr.
• 50 kT Electric calciner soda ash plant in Kenya was operationalized.
• Acquisition of Novabay Pte. Limited, Singapore completed on 19th March 2026.

Standalone Highlights Q4 FY26

• Revenue from operations stood at ₹ 1,254 Cr, up by 3% compared to Q4FY25 due to higher volumes.
• EBITDA at ₹ 216 Cr, down by 6% compared to Q4FY25, lower realization and increase in fixed costs.
• Profit After Tax from continuing operations was ₹ 48 Cr, down by 51% compared to Q4FY25.
• Mithapur Gujarat facility achieved production of 1 MTPA of Soda Ash in FY26.

Consolidated Highlights FY26

• Revenue from operations at ₹ 14,584 Cr, down by 2% compared to FY25, due to pricing pressure in all regions and lower volumes except India & Kenya.
• EBITDA at ₹ 1,805 Cr as compared to ₹ 1,953 Cr in FY25, on account of lower realization but supported by lower fixed cost (despite steep depreciation of Indian Rupee) including due to cessation of Lostock operations in UK.
• An exceptional charge of ₹ 1,956 Cr is provided on account of impairment of goodwill in US, impact of labour code in India and costs on account of UK Soda ash plant.
• ₹ 182 Cr of deferred tax assets write off in US.
• Profit After Tax (before exceptional items and NCI) at ₹ 241 Cr compared to ₹ 479 Cr for FY25.
• Non-Soda Ash revenue grown by 14% over FY25 in line with Company's focus to grow non-cyclical business.
• During the year, Pearl Silica facility with a capacity of 3,000 MTPA at Cuddalore, Tamil Nadu, and FOS L55 facility with a capacity of 4,500 MTPA at Mambattu were commissioned.
• 5 MW solar plant, Solar Pond and 50 kT Electric calciner soda ash plant in Kenya was operationalized.

Standalone Highlights FY26

• Revenue from operations stood at ₹ 4,831 Cr, up by 9% compared to FY25 due to higher volumes, however realisations impacted due to pricing conditions in markets.
• EBITDA at ₹ 954 Cr, up by 17% compared to FY25, effect of higher volumes and cost control measures taken.
• Profit After Tax (before exceptional items) from continuing operations was ₹ 620 Cr, up by 18% compared to FY25.

About Tata Chemicals Ltd.

A part of over US$ 180 billion Tata Group, Tata Chemicals Limited, is a leading supplier of choice to Glass, Detergent, Industrial and Chemical sectors. The company has a strong position in the crop protection business through its subsidiary company, Rallis India Limited. Tata Chemicals has world class R&D facilities in Pune and Bangalore.
Website: https://www.tatachemicals.com

Statement of Consolidated Financial Results for the quarter and year ended 31 March, 2026

Particulars	Quarter ended 31 Mar 2026 (Audited)	Quarter ended 31 Dec 2025 (Unaudited)	Quarter ended 31 Mar 2025 (Audited)	Year ended 31 Mar 2026 (Audited)	Year ended 31 Mar 2025 (Audited)
a) Revenue from operations	3,438	3,550	3,509	14,584	14,887
b) Other income	44	38	42	316	225
Total income (1a + 1b)	3,482	3,588	3,551	14,900	15,112

Tata Chemicals Limited Consolidated Segment wise Revenue, Results, Assets and Liabilities
a. Basic chemistry products	2,933	2,887	3,037	11,521	12,080
b. Specialty products	505	667	472	3,076	2,815

Particulars	As at 31 Mar 2026	As at 31 Mar 2025
Property, plant and equipment	9,920	8,073
Capital work-in-progress	1,014	1,879

Sr.No.	Particulars	Q4FY26	Q3FY26	Q4FY25	FY26	FY25
1	Operating Margin (%)	(2.01%)	1.46%	0.97%	4.14%	5.58%