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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.