Tata Motors Q2 profit seen up 26%; OPM may grow 17.2%: Poll

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26 Aug, 2025 12:21

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Tata Motors is likely to post consolidated net revenue growth of 7.5 percent at Rs 61180crore in the quarter ended September 30 versus Rs 56882 crore in the year-ago period. According to CNBC-TV18 poll, the auto major’s net is seen rising 26 percent to Rs 4457 crore from Rs 3541.8 crore year-on-year (Y-o-Y).

Its EBITDA is seen growing 22 percent at Rs 10530 crore while operating profit margin (OPM) may have grown 17.2 percent versus 15.2 percent Y-o-Y.

Standalone, Y-o-YRevenue at Rs  8400 cr versus  Rs 8868.4 croreEBITDA loss of Rs 85 crore versus profit of Rs 80.6 crore NET loss of Rs 980 crore versus loss of Rs 803.5 crore

JLR  Y-o-Y (in pounds)  Revenue up 5 percent at 4.84 billion versus 4.6 billion  EBITDA at 939 million versus 823 million OPM at 19.4 percent versus 7.8 percent PAT up 2.5 percent at 519.5 million versus 507 million

Expectations: • After a very strong run for over three years, JLR volumes slowed this quarter • JLR recorded Q2 volume growth of  7 percent YoY to 10900 units versus 29 percent volume growth last quarter• Volumes may remain slow even in Q3 before picking up from next calendar year• This as the company ramped down production of older products like Freelander ahead of new Discovery sports launch in Q4 • Also ramped down Evoque supplies by 2000 to China ahead of the China JV Built Evoque launch in Jan 2015 • Also  growth in geographies like China slowed down to 15-17 percent versus 60 percent average growth in previous three months • JLR margins to moderate from the record highs of 20.3 percent clocked in Q1 • Costs like fixed marketing expenses which were abnormally low in Q1 now inch up • FX has been favourable with 1 percent Q-o-Q GBP appreciation• Standalone business remains a drag, continues to report losses • Standalone sales mix turned adverse , PVs contribution rose to 28 percent of sales versus 25 percent in Q2FY14 • Operating cost for standalone business to increase due to higher ad spend for launch of Zest • Some respite in MHCV sales, volume growth of 1.1 percent Y-o-Y to 30726, first growth in eight quarters • consolidated profit growth would grow at 26 percent Y-o-Y driven by JLR and partially aided by higher translation rate due to rupee depreciation