BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Tata Motors Ltd.’s Jaguar Land Rover Q4 FY21 wholesale volumes (including Chery Jaguar Land Rover) grew ~7.5% YoY to ~136,500 units.
Jaguar wholesales declined ~3.4%, while Land Rover grew ~11.3%.
JLR sales saw significant improvement sequentially (up 14% QoQ). This has led to dilution in the mix as the share of Jaguar has improved ~5.4 pp QoQ.
The sharp beat in quarterly wholesales would lead to a stronger-than estimated Q4 FY21 performance.
Based on our volume estimates for JLR, we expect Tata Motors’ Q4 FY21 consolidated profit after tax at Rs 36.4 billion.
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