Tata Motors: Good Time To Buy [Seeking Alpha]
Tata Motors Ltd Tata Motors Limited (TTM)
US:NYSE Investor Relations:
tatamotors.com/investor/volumes
Company Research
Source: Seeking Alpha
Summary Tata Motors ( TTM ) reported disappointing numbers in Q1FY18 with revenues down 10% YoY to Rs 586.5 bn as poor JLR performance, lower volume growth, higher commodities prices and higher incentives in the US market weighed down on its performance. However, net profit for the quarter was higher by 46% YoY to Rs 37.4 bn as it included a one-time pension benefit of ~Rs 36.1 bn. The stock has taken a beating since the earnings numbers have corrected by more than 8% since the earnings day, not to mention that the stock had already been underperforming the broader index due to concerns around JLR. However, I feel the Company's performance was hit by too many one-off factors this time and things should improve going forward. Turnaround in JLR segment on the cards: JLR segment suffered due to currency loss and tax changes in the UK market. However, one interesting positive trend that happened was that the sales of JLR in the North America (+16% YoY) and Chinese (+
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