Tata Technologies Ltd(TATATECH)

NSE: TATATECHBSE: 544028

₹ 656.85-4.67%refreshed 23 Oct, 03:55 pm ISTMarket cap: ₹ 26,672 crWebsite: www.tatatechnologies.comUpdated: 24 Oct 2026

About

Tata Technologies is a global engineering services provider serving the automotive, aerospace and industrial machinery sectors; it was founded in 1989 as the automotive design unit of Tata Motors and became independent in 1994. It reported FY26 revenue of 5505.57 (Rs Cr), and Services made up 77.3% of FY26 segment revenue. It partners with seven of the top ten and twelve of the top twenty automotive ER&D spenders globally, and it runs the BMW TechWorks India joint venture with BMW.^[1][2][3]

Business segments

Services segment: 77.3% of FY26 revenue (Rs 4,256.3 Cr) at a 28.9% EBIT margin; covers engineering R&D, digital engineering and embedded software services.^[3]
Technology Solutions segment: 22.7% of FY26 revenue (Rs 1,249.27 Cr) at an 18.6% EBIT margin; covers PLM/CAD software resale and Education.^[3]
In Q2 FY27, Services revenue grew 33.9% YoY, or 22.1% organic in constant currency (USD).^[4]
In Q2 FY27, Technology Solutions revenue was ₹3,431 mn, down 6.7% QoQ but up 10.5% YoY; segment margin rose to 19.1%.^[4]

Services and platforms

The portfolio spans ER&D, Digital Enterprise Solutions, Embedded Engineering Solutions, Education Solutions and Software Products (FY25).^[1]
Its proprietary platforms (FactoryMagix, CxSuite, Visimatic, AMP.IoT, Discoveria, Optick) power more than 40 standardised AI/ML applications (FY25).^[1]
Embedded software and services revenue grew at a 60% CAGR over the three years to Q4 FY26, and rose 8.5% QoQ in USD in Q1 FY27.^[5][6]
Aerospace revenue was about $10.2 million in Q1 FY27 (+38.1% YoY). In Q2 FY27 management said aerospace is growing faster than automotive.^[6][4]

Key operating numbers

Organic constant-currency revenue growth was 19.1% YoY in Q2 FY27, against 25.2% YoY CC total growth in Q1 FY27.^[4][6]
LTM voluntary attrition was 15.6% in Q2 FY27, against 16.0% in Q1 FY27.^[4][6]
Offshore revenue mix was 65% in Q2 FY27, against 67% in Q4 FY26.^[4][5]
Headcount was 12,895 in Q2 FY27, against 12,579 in Q1 FY27.^[4][6]
DSO was 102 days in Q2 FY27, against 97 days in Q1 FY27.^[4][6]

Customers and concentration

Clients worth $10-50M rose to 6 in Q2 FY27 from 3 a year earlier; $1-5M clients rose to 37 from 33. Clients above $50M fell to 2 from 3 QoQ.^[4]
The anchor account (Tata Motors/JLR group) was 48.9% of Services revenue in Q1 FY27.^[6]
Top-20 customers made up about 88% of the business as of Q4 FY26.^[5]
Named customers include JLR, Tata Motors, BMW, Volkswagen, Tenneco, Airbus, Boeing and Air India.^[5][1]
Exports made up 31.4% of turnover, and customers were in more than 30 countries (FY25).^[1]

Operations and joint ventures

It runs 20 global delivery centres, including near-shore centres in the UK, US, Germany, Sweden and China (FY25).^[1]
The BMW TechWorks India JV (50:50) passed 2,000 engineers in Q1 FY27 and operates hubs in Pune, Bangalore and Chennai.^[6]
European revenue was about $67.9 million in Q1 FY27, up 10.1% QoQ, helped by the ES-Tec integration.^[6]

Recent deals

In Q2 FY27 it won a $138 million full-vehicle programme spanning two platforms with a leading European luxury automotive OEM.^[4]
Other Q2 FY27 wins included a North American commercial-vehicle platform, an SDV deal and an engineering-centre takeover.^[4]
A multi-year $100 million engagement with Tenneco was signed in Q1 FY27.^[6]
A Japanese automotive OEM picked the company for a full-vehicle engineering programme in Q1 FY27, its first scaled entry into Japan.^[6]

Acquisitions

It acquired ES-Tec Group (Germany) in November 2025 for up to €75 million in cash, adding 300+ engineers in ADAS, connected driving and embedded software.^[7]
After the ES-Tec integration, Volkswagen became its third-largest client relationship.^[8]
Management has indicated 1-2 further acquisitions over 2-3 years from FY26 as part of a $1 billion revenue target.^[5]

Market Cap

₹26,672 Cr

High / Low

₹890 / 508

Stock P/E

47.4

Price / Book

7.0

Book Value

₹97

EPS

₹13.5

No. of Shares

40.6 Cr

ROCE

20.8%

ROE

14.6%

OPM

15.5%

Debt / Equity

0.17

Sales

₹5,506 Cr

Net Profit

₹547 Cr

Promoter holding

55.2%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials

Tata Technologies Ltd(TATATECH)

About

Business segments

Services and platforms

Key operating numbers

Customers and concentration

Operations and joint ventures

Recent deals

Acquisitions

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

Product Segments

Corporate Actions