ICICI Direct: Tata Motors’ Q2 Margin Performance Shines Bright
Pedestrians walk past the logo of Tata Motors Ltd. displayed on the exterior of the Prabhadevi Concorde Motors India Ltd. dealership in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

ICICI Direct: Tata Motors’ Q2 Margin Performance Shines Bright


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.

ICICI Direct Report

Tata Motors Ltd. reported a healthy Q2 FY21 performance.

Consolidated net sales were at Rs 53,530 crore, down 18.2% YoY (India down 3.3%, Jaguar Land Rover down 29%) tracking 32% YoY volume decline in JLR operations.

Ebitda margins were at 12.5% amid savings in other expenses.

JLR margin print returned to double digit territory (11.1%) while India passenger vehicle business achieved Ebitda breakeven.

Consequent consolidated loss after tax was at Rs 307 crore, with JLR profit before tax at 65 million pounds and standalone loss at Rs 1,213 crore.

Click on the attachment to read the full report:

ICICI Direct Tata Motors Q2FY21 Result Update.pdf


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