JLR projects revenue growth and return to profit in FY27, doubles down on US

on Wednesday projected a sharp turnaround, guiding for a 13% and a swing back to profitability in financial year 2027 after a tough FY26 when a cyberattack forced a month-long production shutdown and US tariffs hit volumes.

The British luxury carmaker, which accounts for over 80% revenue of Passenger Vehicles, said the recovery would be anchored by a sharpened focus on North America, its single biggest growth opportunity even as it remains active across every major market.

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JLR projected FY27 revenue of £26 billion, up from £23 billion in FY26, with Ebit (earnings before interest and taxes) margin improving to around 4% from barely above zero. Operating cash flow is expected to reach roughly breakeven, against a £2.3 billion outflow in FY26, while investment spending will rise slightly to £3.7 billion.

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FY26 wholesale volumes had fallen 23.2% to 307,900 units, weighed down by the August 2025 cyberattack that halted production for five weeks.

However, JLR’s FY27 guidance left the stock market unimpressed. PV shares plunged 8.27% to close at Rs 361.05 apiece on the BSE on Wednesday. The share fell nearly 10% intraday, its sharpest fall in more than two years.

“The company’s guidance of 4% is much weaker than what the street had estimated,” an analyst said.
JLR reported an Ebit of 9.2% for the fourth quarter of FY26, down 150 basis points from the year ago quarter. “The guidance pulls it down further,” the analyst said.

The benchmark BSE Sensex closed at 7715.62 on Wednesday, up 0.45% from the previous close.

Making a case for the company’s planned “hyper focus on growth in North America,” group chief strategy officer Balaje Rajan noted that the US holds over a third of the world’s wealth, is home to roughly two in five of the world’s millionaires, and is expected to see tens of trillions of dollars in wealth transfers over the next two decades.

Average wealth per adult in North America is also forecast to grow substantially over the next five years, he said at JLR’s Investor Day 2026, themed ‘Growth, Reimagined’, in Gaydon, the UK.

Arguing that the US market is structurally suited to JLR’s strengths, Rajan said the premium segment, particularly SUVs – a category where its brands such as and Defender enjoy a strong appeal – account for a large share of passenger vehicle demand in the country. He also cited the company’s growing retail network in the US.

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JLR said it is optimising its product portfolio for the region, targeting key luxury micro-markets, establishing benchmark quality and service standards, and prioritising supply through debottlenecking. The company is also exploring a non-binding collaboration with Stellantis focused on developing new Defender products specifically for the US market.

Beyond North America, JLR reaffirmed plans to widen its mix of engine and battery options across its Range Rover and Defender brands, with Range Rover Electric and Range Rover Sport Electric due later this year, alongside continued investment in India and the Middle East.

The company said it is targeting cost savings of £1.7 billion over two years through what it calls ‘Enterprise Missions’, aiming to bring break-even volumes back down toward 300,000 units.

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