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Driven by higher net pricing and growth in the passenger vehicle segment, Tata Motors is expected to see strong growth in consolidated revenue in Q3.
Analysts expect to see 23 per cent growth in year-on-year consolidated revenue, with a higher sales mix of the Range Rover.
PAT could surge 195 per cent over the year-ago quarter and 37 per cent sequentially.
JLR (Jaguar Land Rover)’s sales volume (excluding the China joint venture) has grown 27 per cent over the year-ago quarter, and 4 per cent sequentially.
Overall, the company’s consolidated EBITDA margin could grow 289 basis points over the year-ago quarter to 13.8 per cent.
Analysts will watch out for demand trends across vehicle segments, the outlook on pricing, and margins.
Tata Motors on Thursday announced total sales of 86,125 units in January 2024, a 12 per cent year-on-year growth in passenger vehicles, and 2 per cent growth in commercial vehicle sales.
“Tata Motors consolidated EBITDA margin could improve both relative to the year-ago quarter and sequentially. Lower input costs and operating leverage are key margin tailwinds, while the falling revenue share of CVs (sequentially) and a rise in variable marketing spends at JLR are key margin headwinds,” according to IIFL Securities.
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