Tata Motors Q4 Review - Mixed Bag; JLR In-Line Despite Sharp Beat On Volumes: Motilal Oswal
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Motilal Oswal Report
Tata Motors Ltd.’s performance in Q4 FY21 was a mixed bag as the overall operating performance was in line.
Jaguar Land Rover’s performance was restricted by an adverse mix, despite a sharp beat in volumes.
In a seasonally strong quarter, consolidated net debt fell approximately Rs 73 billion YoY (down Rs 138 billion QoQ) to Rs 409 billion.
Q1 FY22 would be challenging for both businesses, though the outlook beyond that is positive.
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