The Tata Motors-owned luxury automaker noted that the retail sales for the three-month period continued to be constrained by the global semiconductor shortage
Equity value of India business comprised of commercial and passenger vehicles now accounts for over half the value in SOTP calculations as compared to 0-30% two years ago
Total domestic sales grew 26% at 72,485 units in Jan 2022 as against 57,649 vehicles sold in the same month last year
The broader indices also surged over a per cent each, and gainers outnumbered losers in 2.5:1 ratio
JLR expects the EBIT margin and free cash flow (before restructuring costs) to turn positive in the second half of Fiscal 2022
Despite the impact of the semiconductor shortage on production and sales, JLR continues to see strong demand for its products with global retail orders at record levels in excess of 125,000 vehicles
Tata Motors has said its electric vehicles (EV) have achieved a cumulative sales milestone of 10,000 units
As per June 30, 2021, shareholding pattern data, ace investor Rakesh Radheshyam Jhunjhunwala held a 1.97 per cent stake in Tata Motors (DVR) and 1.15 per cent holding in Tata Motors
Brokerages cut FY22 estimates sharply, expect recovery in second half of FY22
The company's UK subsidiary expects Q2 to be worse, sees recovery only in the second half of FY22
Shares of Tata Motors recovered 4 per cent from lows on Wednesday after the company scheduled an analysts' call later today to address the concern
Company sees semiconductor shortage deepening in the September quarter of the current financial year.
Tata Motors is India's largest commercial vehicle company and fourth-largest passenger vehicle (PV) player
S & P Global Ratings has affirmed B ratings on Tata Motors and revised outlook to stable on improving underlying demand.S & P said the company's sales for the fourth quarter of fiscal 2021 indicate a material improvement in underlying demand for both commercial vehicles and passenger cars.The commercial vehicle business reported its strongest quarterly sales since fiscal 2019 while the passenger car business continued to gain market share.The passenger car business also turned EBITDA positive in fiscal 2021 and EBITDA margin is likely to improve further to mid-single-digit level in fiscal 2022."Although the second wave of Covid-19 infections has increased risks around these estimates, our base case assumes operational disruptions will be mainly in the first quarter of fiscal 2022," said S & P."We anticipate earnings will recover in the rest of fiscal 2022 as restrictions ease, similar to what we saw after the first wave in fiscal 2021."The agency estimates earnings at Tata
The stock has outperformed the market by gaining 15 per cent in the past two weeks, as compared to a 4 per cent rise in the benchmark index S&P BSE Sensex
Last week, rating agency Moody's had upgraded the outlook on TML from "negative" to "stable" due to continued recovery in the firm's consolidated revenue and profitability
Progress on EV platforms, especially in terms of hybrids, impact of lockdown on the near term on volumes, and impact of scrappage scheme on commercial vehicles will be the key things to track
This will be the second biggest hit for Tata Motors-owned firm since FY19
The firm joins a global race to roll out clean-energy vehicles
While a scrappage policy together with push on infrastructure by the Indian government should boost near term demand.