Tata Motors Q2 Earnings Report on Nov 8: Flat Revenue, Improved Margins

Tata Motors, a major automotive manufacturer in India, is set to announce its Q2 earnings on November 8, 2024, for the quarter ending September 30, 2024. The company has indicated that it will hold a board meeting to discuss and approve these results, alongside an analyst and investor call on the same day. Analysts predict a mixed performance for the company, with expectations of flat revenue growth attributed to subdued volume performance across its various divisions. Despite the anticipated flat revenue, improvements in the EBITDA margin are expected, primarily due to enhanced profitability in the Jaguar Land Rover (JLR) division, as well as in the commercial and passenger vehicle sectors in India. According to forecasts, Tata Motors' revenue is projected to remain at ₹1,05,467.9 crore, while EBITDA is expected to rise by 9% to ₹14,994.8 crore, and net profit could see a significant increase of 36% year-on-year to ₹5,168.7 crore. However, some analysts, like those from Motilal Oswal, foresee a decline in revenue by 5% year-on-year to ₹1,00,180 crore, citing weak performance in the Indian market, particularly in the passenger and commercial vehicle segments, which have seen declines of 5% and 19% respectively. In September, Tata Motors reported a 15% drop in total sales, totaling 71,345 units, while JLR sales experienced a notable increase of 33%, reaching 10,807 units. This mixed performance highlights the challenges and opportunities facing Tata Motors as it prepares to release its financial results.