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Tata Capital Ltd Unlisted Shares
DRHP Status : Not Filed
785
Fundamentals About Tata Capital Ltd
Downloads & Investor Documents
All documents are provided for informational purposes and are subject to regulatory disclosures.
Key Financials of Tata Capital Ltd
P&L Statement
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Interest Earned | 8727 | 9090 | 11895 | 16366 |
| Other Income | 1260 | 1162 | 1741 | 1832 |
| Interest Expended | 5212 | 4889 | 6601 | 9568 |
| Operating Expenses | 1371 | 2041 | 2446 | 3346 |
| Provisions and contingencies | 1449 | 1080 | 574 | 592 |
| PAT | 1242 | 1851 | 2946 | 3327 |
| eps | 3.59 | 5.35 | 8.4 | 8.98 |
| Gross NPA | 2.2 | 1.9 | 1.71 | 1.71 |
| Net NPA | 0.5 | 0.6 | 0.4 | 0.38 |
| Financial Ratios | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Advances | 73626 | 90121 | 116756 | 157760 |
| Book Value | 28.8 | 33.82 | 48.35 | 66.38 |
| P / B | 15.97 | 13.6 | 21.71 | 15.82 |
| ROE (%) | 12.45 | 15.8 | 17.37 | 13.53 |
Balance Sheet
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 765 | 565 | 486 | 833 |
| Cash and Balances | 2026 | 2081 | 3058 | 6995 |
| Investments | 3823 | 7846 | 12658 | 7905 |
| Advances | 73626 | 90121 | 116756 | 157760 |
| Other Assets | 2690 | 1773 | 2604 | 3201 |
| Total Assets | 82930 | 102386 | 135562 | 176694 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 3463 | 3463 | 3507 | 3703 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 6509 | 8249 | 13451 | 20878 |
| Borrowings | 63157 | 79330 | 106309 | 139646 |
| Deposits | 0 | 0 | 0 | 0 |
| Other Liabilities | 9801 | 11344 | 12295 | 12467 |
| Total Liabilities | 82930 | 102386 | 135562 | 176694 |
About Company
The following table shows a 10-point analysis of Tata Capital Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue from Operations ~₹23,205 cr (ex-Motor Finance) / Total Income ~₹28,008–28,370 cr · PAT ~₹3,655 cr · PAT margin ~13% | Leading diversified NBFC (Tata Group flagship); offers retail (home loans, LAP, personal/business loans, consumer/vehicle finance), SME, corporate lending, and wealth management; strong retail/SME focus (~87% AUM); benefits from Tata brand trust, vast distribution (~1,500+ branches), and digital capabilities; AUM growth strong amid credit demand |
| Industry & Market Position | Top-tier NBFC by AUM · Retail/SME mix ~87% | Competitive in retail/SME lending vs. Bajaj Finance, HDFC, etc.; edge from brand, low-cost funding & cross-sell; resilient diversification & conservative underwriting; exposed to interest rates, asset quality & regulatory tightening on unsecured |
| Revenue Growth Trend | FY23–FY25 CAGR ~30%+ · Ex-Motor AUM from ~₹1.17 lakh cr to ~₹1.97 lakh cr · FY25 income up ~55–56% YoY | Explosive growth driven by retail/SME disbursement expansion and consumption/housing credit boom. FY25 momentum strong despite base effect, significantly outpacing industry average (~20% CAGR). |
| Profitability & Margins | ROA ~2.3% · ROE ~14–15% · PAT margin ~13% · Credit cost ~1% | Solid profitability supported by scale, low-cost funding, and fee income. PAT growth ~10% YoY despite provisioning. High-quality earnings with disciplined credit underwriting; profitability superior versus many NBFC peers. |
| Cash Flow Quality | Strong OCF from collections · Consistent dividend payouts | Operational inflows robust, supporting growth and shareholder returns. Diversified funding mix reduces volatility. Stable liquidity buffers enhance balance sheet confidence. |
| Balance Sheet Strength | Net AUM ~₹2.30 lakh cr (incl. Motor Finance) · Ex-Motor ~₹1.97 lakh cr · CRAR >15–16% | Well-capitalized with comfortable regulatory buffers. Diversified asset book and stable asset quality (low GNPA). Strong parent backing enhances downside protection and funding access. |
| Valuation Comfort | Listed price ~₹350–360 (Feb 2026 range) · P/E ~33–35x · EPS ~₹10–11 est. | Premium multiple reflects Tata-backed brand quality, growth visibility, and healthy ROE. Market cap ~₹1.5 lakh cr range. Valuation appears justified given sector tailwinds and scale advantages post-IPO. |
| Management & Governance | Tata-controlled · Professional management · Strong compliance framework | Proven execution track record with transparent disclosures and strong regulatory alignment. Governance standards benefit from Tata Group oversight and institutional discipline. |
| Growth Triggers & Catalysts | Retail/SME expansion · Digital lending growth · IPO completed 2025 | Organic growth from rising credit demand, cross-sell, and new product launches. Efficiency gains and calibrated unsecured exposure support margin expansion. Listing enhances brand visibility and capital access. |
| Liquidity & Exit Visibility | Listed on NSE/BSE (since 2025) · High trading liquidity post-IPO | High secondary market liquidity post-listing ensures easy entry/exit. Public market presence reduces liquidity risk and increases institutional participation. |
Tata Capital Limited (TCL) is the flagship non‑banking financial services company of the Tata Group, and is a subsidiary of Tata Sons.It is registered with the Reserve Bank of India (RBI) and operates as an NBFC‑ICC (Investment and Credit Company), offering lending and investment services. The following are some of the key points related to Tata Capital Ltd:
- Tata Capital serves a wide range of customers - retail, SME, corporate, and institutional with a comprehensive suite of financial products like personal loans, business loans, home loans, leasing, equipment finance, cleantech financing, and more
- It also provides distribution services for wealth products (PMS, PE, mutual funds, structured products), and is involved in credit‑card marketing via Tata Cards.
- Through subsidiaries, Tata Capital has focused wings:
- Tata Capital Housing Finance Ltd for home, LAP, and developer loans.
- Tata Securities Ltd for distribution and capital‑market services.
- Cleantech Finance: It finances green projects by mobilising climate capital from global investors.
Challenges in Tata Capital’s Business
- Credit Risk & Asset Quality: As a diversified NBFC, lending to SMEs, developers, and cleantech projects brings inherent credit risk, especially in adverse economic cycles.
- Regulatory Risk: NBFCs face evolving regulatory requirements (capital, provisioning, classification), which could pressure margins or capital structure.
- Competition: It competes with large NBFCs (like Bajaj Finance), banks, and fintech lenders across retail and corporate finance.
- Funding Risk: For its large loan book, stable access to capital (debt markets, institutional funding) is critical; any liquidity squeeze could constrain growth.
- Business Complexity & Scale: Managing a very diversified business (loans, leasing, wealth distribution, cleantech) means operational complexity and potential for inefficiencies or misallocation.
Strengths / Strategic Advantages
- Strong Tata Brand: As part of the Tata Group, it benefits from trust, brand equity, and a wide group network.
- Very Diversified Lending Portfolio: Covers many lending products — consumer, SME, corporate, leasing, cleantech — which diversifies risk.
- Cleantech Focus: Its cleantech financing arm taps into growing green financing demand, positioning it well for the future.
- Wealth & Distribution Business: Through its wealth division, it leverages cross‑selling opportunities (loans + investment products).
- Subsidiary Strength: Tata Capital Housing Finance and Tata Securities strengthen their product reach and credibility.
Quick Summary
Tata Capital Ltd is a large, diversified NBFC under the Tata Group umbrella, serving retail, corporate, SME, and institutional clients. It has shown strong revenue and profit growth, especially in FY 2024‑25, and is very well positioned to benefit from both traditional lending and new-age finance (cleantech). However, it faces material risks around credit, funding, and regulatory pressure. Its scale, brand, and business mix make it a potentially attractive play in Indian financial services.
Shareholding Pattern of Tata Capital Ltd
| Name | Holding |
|---|---|
| Tata Sons Private Limited | 92.83% |
| Bodies Corporate | 3.2% |
| Others | 3.97% |
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Frequently Asked Questions
These are privately traded equity shares of Tata Capital Ltd, the financial services arm of the Tata Group. They are not listed on NSE or BSE and can be acquired via private-market platforms like UnlistedKraft.
Yes, UnlistedKraft offers access to verified Tata Capital unlisted shares. After completing KYC and placing your order, shares are typically credited to your demat account within 24 hours.
Investing in unlisted shares carries risks like limited liquidity and less public disclosure. However, Tata Capital benefits from strong parentage and robust business fundamentals. Investing via UnlistedKraft ensures secure, verified, and transparent transactions.
Pricing reflects recent private trades, investor demand, financial performance, and IPO expectations. Historically, Tata Capital shares have traded between INR 400 – INR 500 in the grey market and surged above INR 1,000 briefly in early 2025 before undergoing a correction.
Yes, a valid demat account is mandatory to receive and hold Tata Capital unlisted shares purchased through UnlistedKraft.
There’s no mandatory lock-in unless the company lists. Investors usually hold until a liquidity event like an IPO or secondary sale to realise potential gains.
Yes, resale is possible through UnlistedKraft’s resale network, depending on buyer availability and prevailing market demand.
Yes, SEBI regulations require a six-month lock-in period for pre-IPO shareholders after the company lists.
If held for more than two years, gains qualify as long-term capital gains and are taxed at 20% with indexation benefits. Gains realised within two years are treated as short-term and taxed according to your income tax slab.
UnlistedKraft offers secure and verified access to high-potential pre‑IPO opportunities like Tata Capital, along with transparent pricing, expert advice, and fast share allocation to your demat account.
+91-9599071664
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