Tata Motors Q4 Review - In-Line Operating Performance: Prabhudas Lilladher
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.
Prabhudas Lilladher Report
Tata Motors Ltd.’s Q4 FY21 results were operationally in-line, both for Jaguar Land Rover and standalone.
However, adjusted for one-offs, profit after tax came in lower at Rs 27.5 billion (our estimate: Rs 35.5 billion).
Standalone performance continues to improve led by 110 basis point QoQ expansion in passenger vehicle/commercial vehicle margins each at 4.9%/9.1%.
Yet, JLR's margin contracted by 50 basis point QoQ to 15.3% led by lower average selling prices at £53.3k/unit (versus 58.3k/unit in Q3 FY21).
China joint venture continues to report loss at £19 million (versus £40 million in Q4 FY20).
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.