Tata Motors nudges higher after JLR posts record retail sales in FY 2017

Tata Motors gained 0.14% to Rs 473.70 at 10:30 IST on BSE after the company said that its luxury car making unit, Jaguar Land Rover reported record retail sales in the financial year ended 31 March 2017.

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the BSE Sensex was down 54.66 points, or 0.17%, to 29,875.21.

On the BSE, 1.36 lakh shares were traded in the counter so far, compared with average daily volumes of 5.66 lakh shares in the past one quarter. The stock had hit a high of Rs 474.50 and a low of Rs 466.55 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 370.75 on 7 April 2016.

The stock had underperformed the market over the past one month till 6 April 2017, gaining 0.5% compared with Sensex's 3.03% gains. The scrip had also underperformed the market in past one quarter, falling 4.97% as against Sensex's 11.84% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar Land Rover, the UK's largest manufacturer of premium luxury vehicles and Tata Motors' wholly owned subsidiary reported record retail sales of 6.04 lakh vehicles (including sales from its China joint venture), with sales rising 16% in the financial year ended 31 March 2017 (FY 2017) over FY 2016.

The sales exceeded 6 lakh units for the first time in the company's history. Retail sales of Jaguar Land Rover rose 13% to 1.79 lakh vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 21% to 90,838 units in March 2017 over March 2016.

Retail sales for the financial year were up year-on-year in China (32%), North America (24%), the UK (16%) and Europe (13%), whilst sales in overseas markets were down 6%.

Retail sales for Jaguar were a record 1.72 lakh vehicles in the FY 2017, up 83% compared to FY 2016, primarily driven by the successful introduction of the F-PACE and solid sales of the XE and XF (including the long wheel base XFL from the China joint venture). Jaguar retail sales rose 81% to 53,972 vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 83% to 27,820 units in March 2017 over March 2016.

Land Rover retailed 4.31 lakh vehicles in FY 2017, up 1% compared to last year, as continuing strong sales of the Discovery Sport, Evoque and Range Rover Sport were offset by the run-out of Defender and Discovery. Sales of the all-new Discovery began in February with 4,862 units retailed since its launch.

Retail sales for Land Rover fell 2.7% to 1.25 lakh units in Q4 March 2017 over Q4 March 2016. Retail sales rose 4.8% to 63,018 vehicles in March 2017 over March 2016. Last month Land Rover launched the Velar, a new addition to the Range Rover family, positioned between Evoque and Range Rover Sport, which will go on sale later this year, Tata Motors added.

Tata Motors' consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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