Tata Motors Firing On All Cylinders In Q3: ICICI Direct
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)

Tata Motors Firing On All Cylinders In Q3: ICICI Direct


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 stellar Q3 FY21 results.

Consolidated sales rose 5.5% YoY to Rs 75,654 crore (Jaguar Land Rover sales down 6.5%, India sales up approximately 35%).

Consolidated margins were at near six year high of 16.9% (JLR 15.8%, India 7.4%) on the back of sharp ~500 basis points savings in other expenses on percentage of sales basis and softer than expected gross margin contraction.

Consolidated profit after tax was at Rs 2,941 crore.

Tata Sons holding, post conversion of warrants as of January 2021, was at 45.8%

Click on the attachment to read the full report:

ICICI Direct Tata Motors Q3FY21 Result Update.pdf


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