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Tata Motors is worth nothing without Jaguar Land Rover, says CLSA

The $3.7 billion Indian auto firm faces a significant increase in debt due to the crisis, and its plan to deleverage may be delayed by four to six quarters, CLSA said.

Topics
Tata Motors | Coronavirus | Lockdown

Bloomberg 

jaguar land rover
The virus has also been a setback for Jaguar Land Rover, which was beginning to show signs of a turnaround late last year from the combined negative impact of a slowdown in China, Brexit and European emissions rules.

With the pandemic crippling demand for automobiles worldwide, is worth nothing without its luxury unit Jaguar Land Rover, according to

The $3.7 billion Indian auto firm faces a significant increase in debt due to the crisis, and its plan to deleverage may be delayed by four to six quarters, said. It has already received a lifeline from parent Tata Sons in the form of a preferential equity allotment, and the brokerage thinks further aid could be required.

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The virus has also been a setback for Jaguar Land Rover, which was beginning to show signs of a turnaround late last year from the combined negative impact of a slowdown in China, Brexit and European emissions rules. Tata Sons had been looking for a strategic partner for the business but pledged it wouldn’t sell JLR.

First Published: Wed, May 13 2020. 00:27 IST