Digital juggernaut Tata Digital’s net losses ballooned 7.9% to ₹4,974 Cr in the fiscal year 2025-26 (FY26) as against ₹4,610 Cr in the year ago period.
The losses came primarily on the back of BigBasket, which continued to guzzle cash and accounted for nearly 64% of the digital giant’s losses during the fiscal. Nevertheless, other portfolio digital brands continued to drive volume.
According to Tata Sons’ annual report for FY26, Tata Digital’s revenue rose 11.9% to ₹35,990 Cr in the fiscal under review as against ₹32,188 Cr in FY25. GMV also scaled to ₹46,515 Cr within four years of launch, said Tata Group chairman Natarajan Chandrasekaran.
“Over the past few years, Tata Digital has navigated multiple complexities across its businesses. The Indian ecommerce market shifted rapidly towards quick commerce, which BigBasket is adapting to. In FY26, Tata Digital reported a loss of ₹4,974 Cr. But Tata Digital’s ambitions are great and are beginning to show progress. It has scaled to a GMV of ₹46,515 Cr within four years of launch…,” said Chandrasekaran in a shareholder letter.
Amid rising losses, the conglomerate appears to have changed the course of Tata Neu, pivoting the super app to financial services. Chandrasekaran said that the Tata Neu card has become one of India’s largest co-branded credit cards adding that Neu will now focus on financial services and loyalty offerings.
“… The Tata Neu card is one of India’s largest co-branded credit cards. We have made a decisive shift – refocusing Tata Neu on financial services and loyalty. In the coming year, Tata Neu will double down on financial services, aim to increase payments monthly transacting users by 10X, and expand our ecosystem across lending and insurance,” added the Tata Group’s top executive.
Meanwhile, Tata Digital remained a work in progress. From BigBasket and Tata 1mg to Tata Neu and Daily Ninja, most digital verticals generated losses in FY26.
Hyperlocal delivery arm BigBasket’s B2C arm, Innovative Retail Concepts Pvt Ltd, generated a loss of ₹3,073.1 Cr in FY26 against a turnover of ₹8,223 Cr. On the other hand, BigBasket’s B2B arm, Supermarket Grocery Supplies Pvt Ltd, clocked a turnover of ₹2,298.2 Cr, while losses stood at a nifty ₹101.7 Cr during the fiscal.
The situation was no different at digital pharmacy subsidiary Tata 1mg, where revenue is split across two entities. While Tata 1mg Technologies minted a profit of ₹17.5 Cr in FY26, the flagship epharmacy and diagnostics arm Tata 1mg Healthcare Solutions reported a loss of ₹310 Cr. On similar lines, payment aggregator arm Tata Payments also returned a loss of ₹85 Cr during the fiscal.
Meanwhile, Tata Cliq, the fashion ecommerce platform of the Tata Group, reported a turnover of ₹354.4 Cr in FY26 while net loss stood at ₹252.8 Cr. Croma, the omnichannel consumer electronics and goods subsidiary, also clocked a turnover of ₹21,532 Cr during the fiscal under review as against a net loss of ₹614 Cr.
The negative portfolio came despite Tata Sons’ direct investment in Tata Digital standing at ₹22,903 Cr as of March 2026.
Meanwhile, on the semiconductor front, Chandrasekaran said that the chip manufacturing arm, Tata Electronics, has become the fourth-largest subsidiary within the Tata Group by revenue, with a top line of ₹1.31 Lakh Cr, up nearly 97% YoY. He further added that the vertical has already achieved breakeven.
As per the annual report, Tata Electronics’ losses grew multifold from a mere ₹70 Cr in FY25 to ₹1,611 in FY26, suggesting that the conglomerate is spending heavily to scale its semiconductor manufacturing capabilities.
“Tata Electronics is currently constructing India’s first high-volume fab in Gujarat, and packaged India’s first indigenous microprocessor. We will develop advanced packaging, indigenous electronics and semiconductor solutions, capabilities in semiconductor materials, and work with the most advanced lithography tools in Dholera (in Gujarat),” added Chandrasekaran.
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