Tata Motors Group
- JLR continues its turnaround journey with another strong quarter
- India improves sequentially; performance impacted by M&HCV decline (despite market share gain) and BSIV stock reduction
- Consolidated results benefits from JLR China recovery and Project Charge offset by M&HCV decline & stock reduction in India
- Q3’20: Volumes at 276K down 12%; Revenue Rs. 72KCr down 7%
- EBITDA margin at 9.9%(+140 bps); EBIT margin at 2.3% (+240bps)
- PBT at Rs.1,350Cr vs loss of Rs.29,228Cr (includes impairment of Rs.27,838Cr) in Q3’19
- PAT (post share of profit of associates and JV) at Rs.1,756Cr ; Free Cash Flow (Auto) +Rs.4KCr
Jaguar Land Rover: Performance improves – Continued recovery in China, Project Charge delivers
- Q3’20: Revenue £ 6.4B (+2.8%);
- EBITDA margin at 10.8%; EBIT margin at 3.3%; PBT £ 318M; PAT £ 372M
- China retail sales continue to grow (up 24.3%)
- Strong demand for new Range Rover Evoque (global sales up 30.0%)
- All new Defender-customer orders building strongly
- Project Charge achieved £2.9 billion of cost and cash-flow improvements, ahead of its schedule
- Project Charge + formally launched; Targets to achieve £ 1.1B of cost and cash savings: – £400 million in Q4 FY 20 and £700 million in FY 21.
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SOURCE: Tata Motors
