Key Points
Robust demand for passenger and commercial vehicles in India, growth in volumes for JLR, easing raw material costs, a richer product mix, and operating leverage benefits are likely to drive high double-digit growth in earnings...
Sequentially, the net profit is likely to rise 19%, whereas both revenue and operating profit may see a moderate growth of 2% and 5%, respectively, amid weak volumes on a quarter-on-quarter basis...
Kotak Institutional Equities expects a 11% YoY growth in standalone revenue, led by a 1% improvement in volumes due to strong demand trends in M&HCV trucks and passenger segment and a 10% increases in average selling price due to richer product mix and price hikes taken over the last one year...
With an improving mix, strong execution of demand-pull strategy, digital offerings, Tata Motors aims to sustain the growth momentum in the commercial vehicle segment, and step up volumes in the passenger car segment through new generation product launches while driving profitable growth in the second half of the year...
With a further improvement in margin, JLR also expects free cash flow of over 2 billion Sterling in FY24, and net debt reducing to less than 1 billion sterling by the end of FY24...
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