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Tata Motors: Near-term challenges persist, second half to be better

Tata Motors expects improvement in chip supply from September 2021 once new capacity goes on stream. JLR expects a strong ramp-up in volumes in the second half

July 27, 2021 / 08:48 PM IST
Tata Motors: Near-term challenges persist, second half to be better

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The June-quarter numbers of Tata Motors (CMP: Rs 292.75; Market cap: Rs 104,00 cr) were impacted by the second wave of the pandemic and the shortage of semiconductors chips (required for electronic control units). The impact was clearly visible in the volume and the revenue numbers. As a result, operating margins also got impacted due to the negative operating leverage. June 2021 quarter snapshot (image) (image) Key highlights JLR: Shortage of chips impacted production The Q1 FY22 numbers are not comparable with Q1...

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