Near term headwinds for JLR due to chip shortage to weigh on Tata Motors

Brokerages cut FY22 estimates sharply, expect recovery in second half of FY22

Topics Tata Motors | Tata Motors JLR | Electric Vehicles

Tata Motors faced twin issues of chip shortage in subsidiary Jaguar Land Rover or JLR and lockdown in the India business which dented its operational performance in the June (Q1FY22) quarter. The company reported a 650 basis points sequential decline in earnings before interest, depreciation, taxes and amortisation to 7.9 per cent.

Though the decline was sharp, it was better than what the street was working with due to favourable product mix. What would weigh on the stock, which was down a per cent in trading on Tuesday, is the near term outlook for JLR. The company indicated a 50 per …

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First Published: Tue, July 27 2021. 15:14 IST

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