Tata Capital (TATACAP) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated loan book of ₹2,21,950 crore, up 41% YoY, driven by the merger with Tata Motors Finance Limited (TMFL) and robust retail/SME growth.

• Net interest income rose 62% YoY to ₹13,036 crore; profit after tax increased 16% YoY to ₹3,665 crore.

• Successfully completed the merger of TMFL, expanding presence in vehicle financing and enhancing operational scale.

• Filed draft offer document for IPO as per RBI guidelines for upper layer NBFCs.

Financial highlights

• Consolidated total income: ₹28,369.87 crore, up 55.9% YoY.

• Net interest margin and other income: ₹13,340.23 crore, up 54.6% YoY.

• Profit after tax: ₹3,664.66 crore (₹3,712 crore excluding TMFL merger impact).

• Gross NPA: 1.9% (1.5% excluding TMFL); Net NPA: 0.8% (0.5% excluding TMFL).

• Capital adequacy ratio: 16.9%.

• ROA: 1.8% (2.1% excluding TMFL); ROE: 12.6% (14.2% excluding TMFL).

• Retail + SME advances: >85% of loan book.

Outlook and guidance

• Optimistic outlook for FY26, supported by monetary policy stimulus, investment cycle, and robust economic fundamentals.

• Focus on scaling digital capabilities, expanding into deeper markets, and maintaining disciplined margin management.

• IPO to strengthen capital base and support long-term growth.