New Delhi, May 13 -- Tata Motors Ltd, India's largest commercial vehicle maker, expressed caution about the industry's growth in FY27, saying the true impact of the West Asia war on fuel prices and consumer sentiment is yet to be seen.

The Mumbai company said it expects single-digit growth for the industry this fiscal year after retail sales grew 12% in FY26, crossing a million units for the first time as the goods and services tax (GST) cuts in September 2025 boosted consumer sentiment.

Management's comments came after the company reported a 5% dip in consolidated net profit in FY26 to Rs.3,030 crore on Wednesday evening. Without a Rs.1,428-crore loss on investments due to its equity stake in Tata Capital, which was listed during the f...