Motilal Oswal: Tata Motors Q2 Review - JLR Drives Beat; Working Capital Drives FCF To Positive Zone
A pedestrian walks past a Tata Motors Ltd. showroom in Chennai, India. (Photographer: Dhiraj Singh/Bloomberg)

Motilal Oswal: Tata Motors Q2 Review - JLR Drives Beat; Working Capital Drives FCF To Positive Zone

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 Q2 FY21 marked initial signs of volume recovery, the benefit of mix, and cost-cutting initiatives coming together.

This coupled with normalcy in working capital as well as tight control on capex – resulted in free cash flow turning positive.

Jaguar Land Rover’s near-term volumes may be at risk from a potential second wave of Covid-19.

However, mix improvement and tight cost/capex control would drive sharp improvement in operating performance and debt reduction.

Click on the attachment to read the full report:

Motilal Oswal Tata Motors Q2FY21 Result Update.pdf

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