Tata Motors reports Q4 loss at Rs 7605 cr despite 41% increase in revenue; commodity prices to weaken Q1FY22 prospects, company says

Auto major Tata Motors today declared Q4FY21 results reporting a loss of Rs 7605 cr despite a sharp growth in its revenues. However, the loss was lower in the reporting quarter as against the loss reported in Q4FY20 at Rs 9863 cr. The net loss stood at Rs 13,451 cr for the year ended 31 March 2021

Net revenues jumped by over 41 per cent at Rs 88,628 cr for the March 2021 quarter. Meanwhile EBIDTA was up by 870 bps at 14.4 per cent, the company said in its exchange filing. Source: Reuters

Auto major Tata Motors today declared Q4FY21 results reporting a loss of Rs 7605 cr despite a sharp growth in its revenues. However, the loss was lower in the reporting quarter as against the loss reported in Q4FY20 at Rs 9863 cr. The net loss stood at Rs 13,451 cr for the year ended 31 March 2021.

However, net revenues jumped by over 41 per cent at Rs 88,628 cr for the March 2021 quarter. Meanwhile EBIDTA was up by 870 bps at 14.4 per cent, the company said in its exchange filing.

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The domestic retail numbers for Q4 were up by 52 per cent to 171.8K units for Q4 while in the year ended 31 March 2021 retail sales were down 14 per cent to 437.3K units.

India operations continued its strong sequential recovery in the quarter with Commercial Vehicles revenues recovering to pre-pandemic levels and Passenger Vehicles revenues reaching multi-year highs on the back of the ‘New Forever’ portfolio, the company said.

The business achieved 3 per cent EBIT margin and delivered strong free cash flows of 2,900 cr in the reporting quarter, Tata Motors said.

Tata Motors Outlook: “While demand remains strong, the supply situation over the next few months is likely to be adversely impacted by disruptions from COVID-19 lockdowns in India and semi-conductor shortages worldwide,” it said. “We expect Q1 FY22 to be relatively weak due to this as well as rising commodity inflation and expect to improve gradually from the second quarter,” it further said.

“The business has demonstrated strong resilience in the face of adversity and its fundamentals are strong. We will remain agile to address these challenges and drive consistent, competitive and cash accretive growth over the medium to long term,” Tata Motors said.

On Jaguar Land Rover (JLR) The quarter reflected a strong YoY recovery of retails in China and North America. The business achieved 7.5% EBIT margin and strong positive free cash flows of £0.7 billion reflecting the recovery in sales, favourable mix and Charge+ delivery, the company filing said.

JLR has embarked on Reimagine strategy to make the company a world leader in electrified luxury vehicles, sustainability, and new automotive technologies to deliver a strong market performance, which shall create long-term shareholder value, it said.

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