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Home-grown auto major Tata Motors on Tuesday reported a consolidated net loss of Rs 7,585 crore for the fourth quarter ended March 31, 2021. It had posted a consolidated net loss of Rs 9,864 crore in the January-March period of FY2019-20, Tata Motors said in a BSE filing. The auto major's total income in the fourth quarter of FY'21 stood at Rs 89,319 crore. It was at Rs 63,057 crore in the year-ago quarter. For the entire 2020-21 fiscal, the company reported a consolidated net loss of Rs 13,395 crore, against a net loss of Rs 11,975 crore in 2019-20. Its total income stood at Rs 2,52,438 crore for the last financial year as against Rs 2,64,041 crore in FY'20. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebooks-mark-zuckerberg-has-six-months-to-answer-these-five-questions/articleshow/82729482.cms">Facebook’s Mark Zuckerberg has six months to answer these five questions</a> <a href="https://www.businessinsider.in/careers/news/credit-suisse-is-looking-to-hire-over-1000-it-employees-in-india-as-it-battles-controversy-at-home/articleshow/82731065.cms">Credit Suisse is looking to hire over 1,000 IT employees in India as it battles controversy at home</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapps-new-privacy-policy-in-effect-from-may-15-heres-what-happens-if-you-dont-accept-it/articleshow/82734500.cms">WhatsApp’s new privacy policy — here is why you don't have to lose sleep over it</a>

Tata Motors still isn't in the green, but it's making 20% more profit than before the COVID-19 pandemic hit

<ul><li>Tata Motors reported a loss of ₹36.8 billion in Q1 FY20.</li><li>While trouble continues with its subsidiary Jaguar Land Rover, the company claims JLR is undergoing a major transformation.</li><li>Tata Motors’ net revenue fell by 8% for the first quarter. </li></ul>Tata Motors posted a massive loss of ₹36.8 billion in the first quarter of the current financial year. The losses for the quarter have doubled as compared to ₹18.6 billion in the same quarter of last year. Its revenues too have gone down by 8% to ₹608 billion. “Over the past few years we had struck a good balance between managing market dynamics and financial health. However, this time, despite our continuous turnaround effort we could not prevent some impact on our Q1 performance,” said Guenter Butschek, CEO and MD, Tata Motors, in a statement. Tata Motors, like all other auto companies is facing the heat of sales slowdown. Adding to that are from its UK-owned subsidiary Jaguar Land Rover. This subsidiary’s net revenue stood at ₹50.74 billion, 2.8% lower than it was, last year. "The continued slow down across the auto industry due to weak consumer sentiments, liquidity stress and the impact of axle load effect particularly in medium/heavy duty, impacted overall demand,” said Butschek. ‘Adapting to the environment’ Global rating agencies Fitch Ratings and Moody’s both had downgraded Tata Motors with a negative outlook. Jaguar Land Rover’s global sales continued to decline in May with the company reporting a 12% dip in <a href="https://www.moneycontrol.com/news/business/jaguar-land-rover-global-sales-dip-12-in-may-4086381.html">May 2019.</a> In June 2019, its sales dropped by 9.6% year-on-year. In June 2019, Tata Motors <a href="https://www.moneycontrol.com/news/business/companies/tata-motors-global-sales-dip-5-in-june-4195251.html">reported </a>a 14% decline in India sales, while a 5% drop was seen in global sales. Cumulatively, <keyword id="635285" type="PERSON" weightage="20" keywordseo="Tata-Motors-sales">Tata Motors sales</keyword> in the first quarter of 2019-20 fell by 20%. However, Tata Motors still hopes for a turnaround. “With the Budget announcement and upcoming festive season, we expect some tailwinds for the remaining FY20,” said Butschek. The company also hopes to gain from JLR and BMW’s collaboration on building the next-generation Electric Drive Units. “Jaguar Land Rover is in a period of major transformation. We are simplifying our business, delivering on our product strategy and adapting to the tough market environment. We will build on our strong foundations and increased operating efficiency to return to profit this fiscal year,” Prof. Dr. Ralf Speth, JLR Chief Executive.

Falling Jaguar Land Rover sales widen Tata Motors' losses

<ul><li>According to reports, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> was planning to sell a minority stake in <keyword id="6354362" type="ORGANIZATION" weightage="20" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword>. </li><li>JLR had reported a massive loss of $3.4 billion in December. </li><li>Stocks of <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Motors had fallen by 17% in early February. </li></ul>Tata Motors has denied reports that it is exploring a minority stake sale in its British subsidiaries <keyword id="42034" type="COMPANY" weightage="20" keywordseo="Jaguar">Jaguar</keyword> and <keyword id="44719" type="PERSON" weightage="20" keywordseo="Land-Rover">Land Rover</keyword>. According to an <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-motors-mulls-selling-stake-in-jlr-agencies/articleshow/68216938.cms">ET report</a>, the auto company is reportedly also looking at a joint venture partnership. “There is no truth to the rumours that the company is looking to divest its stake in JLR,” Tata Motors told Business Insider, declining to comment further on “market speculation.” For the quarter ending December 31, Tata Sons’ Jaguar Land Rover <a href="https://www.forbes.com/sites/neilwinton/2019/02/07/jaguar-land-rover-hit-by-big-loss/#2852de8aa0a8">saw </a>a loss of $3.4 billion following a big write-down. It was also in cost cutting mode, and reportedly axed 4,500 jobs late last year. The <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-motors-mulls-selling-stake-in-jlr-agencies/articleshow/68216938.cms">ET report</a> also states that Brexit, US-China trade war and signs of a slowdown in the global economy could be the reasons for the losses incurred by JLR. China, which has traditionally been one of the biggest markets for the luxury car. The division saw a drop in sales volume by 47% which also affected the company deeply. In early February, its record losses also resulted in Tata Motors stock <a href="https://www.businessinsider.in/tata-motors-stock-price-falls-after-record-loss-due-to-jlr-troubles-in-china-and-uk/articleshow/67894956.cms">falling</a> by 17% which also resulted in analysts cutting its earnings estimate by 35%. Tata Motors had acquired the Jaguar Land Rover businesses from Ford Motor Company in 2008 for a net consideration of US $2.3 billion in an all-cash transaction. See Also: <a href="https://www.businessinsider.in/tata-motors-stock-price-falls-after-record-loss-due-to-jlr-troubles-in-china-and-uk/articleshow/67894956.cms">Tata Motors loses over a billion dollars in market value</a> <a href="https://www.businessinsider.in/tata-motors-jaguar-land-rover-unit-is-a-major-casualty-of-the-us-china-trade-war/articleshow/66130634.cms">Tata Motors’ Jaguar Land Rover unit is a major casualty of the US-China trade war</a>

Tata Motors denies reports it is exploring stake sale in Jaguar Land Rover

S&amp;P Global Ratings has downgraded <keyword id="42747" type="DOMAIN" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> to more vulnerable to non-payment grade 'B' citing weaker-than-expected credit metrics owing to the disruptions and economic impact from the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic. The ratings agency which had earlier rated Tata Motors B+ has, however, kept the outlook on the company stable. "The impact of COVID-19 on the global automotive market will make a large dent in the recent good progress that JLR's management has made in steering the business back to profitability and improving credit metrics. In turn, this would delay the improvement we had expected in Tata Motors' credit profile," S&amp;P said in a statement. It further said the previous 'B+' rating on Tata Motors was predicated on expectation that revenues and profit margins at both <keyword id="6354362" type="COMPANY" weightage="20" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword> (JLR) and Tata Motors' Indian operations would improve steadily in fiscals 2020-2022. "Even before the COVID-19 outbreak, JLR's sales volumes for fiscal 2020 were likely to decline, while the Indian operations were affected significantly by structural changes in the commercial vehicle segment and a slowing economy," it stated. S&amp;P said it has now "altered our assumptions given uncertainty in production volumes and demand following the pandemic. We now forecast Tata Motors' consolidated revenues to decline about 5 per cent in fiscal 2021 following a sharp revenue drop in fiscal 2020." The ratings agency further said it views positively the management's focus on conserving cash amid the changes in operating conditions. "We expect consolidated capital expenditure (capex) in fiscal 2021 to be at least 20 per cent below fiscal 2020 levels. "Management has also identified significant further cost-cutting areas at JLR under "Project Charge +". Even so, we anticipate free <keyword id="2067335" type="PERSON" weightage="20" keywordseo="Operating-cash-flow">operating cash flow</keyword> (FOCF) will be negative for the next couple of years at least," it added. Tata Motors' recent announcement to subsidiarize its domestic passenger car business and to explore mutually beneficial partnerships could be positive. However, the plans are at an early stage and are not expected to have a significant impact in fiscal 2021, S&amp;P said. "The stable outlook mainly reflects our view that Tata Motors will maintain adequate liquidity over the next two years. This would partly mitigate the company's weakening leverage and cash flow-based metrics," the agency said. S&amp;P further said while negative FOCF is a risk over the period, "we believe Tata Motors has financial flexibility as part of the Tata Group, though the benefits are more pronounced at the Indian operations than at JLR". The Indian operations also face less cash flow pressure despite weaker earnings relative to JLR, thanks to a more manageable capex plan, it added. On the possibility of further downgrading ratings on Tata Motors, S&amp;P said "a downgrade to 'B-' would largely be the result of a deterioration in Tata Motors' liquidity position". "In our view, this would be more likely driven by lower financial flexibility and reduced fundraising ability, than a deeper operational decline. That said, a significant underperformance of earnings relative to our current estimates could contribute to this scenario," it said. In the absence of significant developments, an upgrade in the next 12 months is less likely given the negative outlook on JLR, which has a significant influence on Tata Motors' credit profile, S&amp;P said. "A rating higher than that on JLR is possible if the Indian operations strengthen appreciably such that JLR has a lower influence on the consolidated financial profile. This is not our expectation in the next two years," it said. <keyword id="8754841" type="PERSON" weightage="20" keywordseo="rkl">RKL</keyword> RKL ANSANS

Tata Motors downgraded by S&P over Corona effect on JLR turnaround

<ul><li>Shares of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> gained on Tuesday even as the automaker’s losses widened in the September quarter.</li><li>Investors took note of the company's bullish comments that demand remains strong for JLR and India passenger vehicles.</li><li>Tata Motors reported a 14-fold widening of its loss to ₹4,416 crore in the September quarter as semiconductor shortage and inflation continue to impact its business.</li></ul>Even though Tata Motors reported a 14-fold widening in its net loss, which rose to ₹4,416 crore in the September quarter, investors took note of the company’s bullish comments on strong consumer demand. While announcing its earnings, the company said that demand remains strong for Jaguar Land Rover (JLR) and India passenger vehicle business while commercial vehicle demand improves gradually. However, semiconductor issues and commodity inflation continue to impact Tata Motors near term performance. “The performance is expected to improve gradually starting in H2 [second half of FY22] as both the supply chain and the pandemic situation improves,” said Tata Motors. Shares of Tata Motors rose as much as 3% in early trade on November 2 taking note of strong demand. <div type="image" title="tata motors share chart" height="900" width="1200" msid="87480006" hostid="261"></div> Moreover, analysts also remained optimistic on the company’s performance as they see volume recovery soon. Analysts at Jefferies <a href="https://twitter.com/CNBCTV18Live/status/1455352247911534592">reportedly </a>said that demand recovery, market share gains and better margin will continue to help Tata Motors’ India business. It maintained a ‘buy’ rating on the stock. Another positive part for the loss maker was its revenue grew 15% year-on-year to ₹61,378 crore in July-September period. Tata Motors’ electric vehicle business posted nearly three-fold growth with highest monthly and quarterly sales of 1,078 units and 2,704 units, respectively. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/a-third-of-indias-festive-seasons-is-over-whats-selling-and-whats-not/slidelist/87468577.cms">A third of India’s festive seasons is over ⁠— what’s selling and what’s not</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/last-day-to-subscribe-to-fino-payments-bank-ipo/articleshow/87474206.cms">Today is the last day to subscribe to Fino Payments Bank IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-bharti-airtel-hero-motocorp-and-other-top-stocks-in-news-on-november-2/slidelist/87477082.cms">Tata Motors, Bharti Airtel, Hero MotoCorp and other top stocks in news on November 2</a>

What Tata Motors investors are excited about — obviously not the huge loss

<ul><li>Tata Motors stock falls over 17% on Friday.</li><li>Analysts have cut earnings estimate by up to 35%.</li><li>Company's luxury car unit Jaguar Land Rover is faced with a slowdown in China and the risk of a hard Brexit.</li></ul> Tata Motors lost over 17% of its stock value on Friday (February 8) after the Mumbai-based company <a href="https://www.moneycontrol.com/news/business/earnings/tata-motors-consolidated-december-2018-net-sales-at-rs-77000-89-crore-up-3-84-y-o-y-3499401.html" target="_blank">reported a consolidated quarterly loss</a> of ₹26,961 crore, the biggest in its history. Analysts have cut the company's earnings estimate by <a href="https://economictimes.indiatimes.com/markets/stocks/news/worst-quarterly-losses-in-india-incs-history-tata-motors-joins-the-league/articleshow/67900156.cms" data-type="tilCustomLink" target="_blank">up to 35%</a> despite company's attempts to sugar-coat the depleting fortunes of its luxury car brand Jaguar Land Rover (JLR). The slowdown in China, which is a huge market for JLR, had dented margin and eroded profit in the last quarter ended December 2018. The company also cut its margin estimate citing rising business uncertainties. “The 4-7% guidance was for the period between FY20 and FY22. That is something that we have now calibrated to 3-6%," PB Balaji, CFO, Tata Motors, <a href="https://www.moneycontrol.com/news/technology/auto/tata-motors-revises-margin-guidance-downwards-to-3-6-from-4-7-3501021.html" data-type="tilCustomLink" target="_blank">said</a>. The luxury car market was down 15% year-on-year in China. However, the same for JLR was down 47% to 22,000 units, which means the company is performing way worse than its peers like BMW and Audi. With the risks emerging from Brexit looming large, the outlook is rather bleak for Tata Motors. The company has written down the <a href="https://economictimes.indiatimes.com/markets/stocks/news/continued-weak-demand-could-lead-to-further-impairment-at-tata-motors/articleshow/67894091.cms" data-type="tilCustomLink" target="_blank">value</a> of the JLR business by 37.5% due to the growing risks. If the deal between UK and the European Union is worse than expected, it may hit the demand for luxury cars like JLR and the fall in sales as a result of it may further erode the share value. SEE ALSO: <ul class="breadcrumb clearfix"><li class="youhere"><a>Top IL&amp;FS Execs Swindled Money Meant For Employees, Says India's Serious Fraud Investigation Office</a></li></ul>

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Tata Motors still isn't in the green, but it's making 20% more profit than before the COVID-19 pandemic hit

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Falling Jaguar Land Rover sales widen Tata Motors' losses

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Tata Motors denies reports it is exploring stake sale in Jaguar Land Rover

Sanchita Dash

Tata Motors downgraded by S&P over Corona effect on JLR turnaround

PTI

What Tata Motors investors are excited about — obviously not the huge loss

Bhakti Makwana

Tata Motors loses over a billion dollars in market value

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