Tata Motors Passenger Vehicles Limited

NSEI:TMPV Stock Report

Market Cap: ₹1.5t

Tata Motors Passenger Vehicles Valuation

Is TMPV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TMPV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

₹365.95
Fair Value
12.0% overvalued intrinsic discount
28
Number of Analysts

Below Fair Value: TMPV (₹410.05) is trading above our estimate of fair value (₹365.95)

Significantly Below Fair Value: TMPV is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TMPV?

Key metric: As TMPV is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TMPV. This is calculated by dividing TMPV's market cap by their current earnings.
What is TMPV's PE Ratio?
PE Ratio7.1x
Earnings₹212.40b
Market Cap₹1.51t

Price to Earnings Ratio vs Peers

How does TMPV's PE Ratio compare to its peers?

The above table shows the PE ratio for TMPV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.9x
HYUNDAI Hyundai Motor India
33.5x15.56%₹1.8t
M&M Mahindra & Mahindra
29.4x9.36%₹4.0t
MARUTI Maruti Suzuki India
35.5x12.38%₹5.2t
532343 TVS Motor
73.2x20.02%₹1.7t
TMPV Tata Motors Passenger Vehicles
7.1x8.69%₹1.5t

Price-To-Earnings vs Peers: TMPV is good value based on its Price-To-Earnings Ratio (7.1x) compared to the peer average (42.9x).

Price to Earnings Ratio vs Industry

How does TMPV's PE Ratio compare vs other companies in the Asian Auto Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TMPV 7.1xIndustry Avg. 21.3xNo. of Companies15PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TMPV is good value based on its Price-To-Earnings Ratio (7.1x) compared to the Asian Auto industry average (21.3x).

Price to Earnings Ratio vs Fair Ratio

What is TMPV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TMPV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.1x
Fair PE Ratio39.2x

Price-To-Earnings vs Fair Ratio: TMPV is good value based on its Price-To-Earnings Ratio (7.1x) compared to the estimated Fair Price-To-Earnings Ratio (39.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TMPV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹410.05
₹704.47
+71.80%
27.85%₹1,300.00₹375.00n/a28
Oct ’26₹718.35
₹761.11
+5.95%
19.01%₹1,300.00₹575.00n/a27
Sep ’26₹690.15
₹740.52
+7.30%
19.68%₹1,300.00₹575.00n/a27
Aug ’26₹648.85
₹765.23
+17.94%
19.04%₹1,300.00₹578.00n/a26
Jul ’26₹683.80
₹764.86
+11.85%
18.82%₹1,300.00₹578.00n/a29
Jun ’26₹719.50
₹797.33
+10.82%
17.78%₹1,300.00₹578.00n/a30
May ’26₹644.25
₹806.53
+25.19%
19.44%₹1,300.00₹578.00n/a30
Apr ’26₹671.85
₹848.23
+26.25%
16.28%₹1,300.00₹625.00n/a30
Mar ’26₹620.65
₹866.57
+39.62%
15.44%₹1,300.00₹625.00n/a30
Feb ’26₹706.55
₹887.87
+25.66%
16.27%₹1,300.00₹660.00n/a31
Jan ’26₹749.25
₹965.40
+28.85%
13.61%₹1,300.00₹767.00n/a30
Dec ’25₹786.45
₹974.58
+23.92%
14.23%₹1,300.00₹767.00n/a31
Nov ’25₹843.45
₹1,149.13
+36.24%
11.67%₹1,340.00₹825.00n/a30
Oct ’25₹965.20
₹1,176.58
+21.90%
10.76%₹1,340.00₹825.00₹718.3531
Sep ’25₹1,111.35
₹1,170.66
+5.34%
11.06%₹1,340.00₹825.00₹690.1532
Aug ’25₹1,144.40
₹1,127.06
-1.51%
11.23%₹1,340.00₹825.00₹648.8532
Jul ’25₹1,002.05
₹1,090.38
+8.81%
11.78%₹1,250.00₹650.00₹683.8032
Jun ’25₹923.00
₹1,086.45
+17.71%
12.04%₹1,250.00₹650.00₹719.5031
May ’25₹1,007.90
₹1,014.07
+0.61%
14.29%₹1,265.00₹596.00₹644.2530
Apr ’25₹992.25
₹996.40
+0.42%
13.51%₹1,265.00₹596.00₹671.8530
Mar ’25₹977.40
₹957.06
-2.08%
13.02%₹1,100.00₹596.00₹620.6531
Feb ’25₹878.50
₹826.75
-5.89%
13.53%₹1,000.00₹550.00₹706.5532
Jan ’25₹790.60
₹748.27
-5.35%
9.51%₹841.00₹550.00₹749.2533
Dec ’24₹705.45
₹743.79
+5.43%
9.22%₹841.00₹550.00₹786.4533
Nov ’24₹627.70
₹721.94
+15.01%
9.14%₹830.00₹525.00₹843.4533
Oct ’24₹630.20
₹715.48
+13.53%
9.93%₹830.00₹490.00₹965.2033
₹704.38
Fair Value
41.8% undervalued intrinsic discount
28
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/27 00:28
End of Day Share Price 2025/10/27 00:00
Earnings2025/06/30
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tata Motors Passenger Vehicles Limited is covered by 65 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Amey DargudeAmbit Capital
Jinesh GandhiAmbit Capital
Ashwin MehtaAmbit Capital