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Tata Motors Q1 results: Net loss shrinks to Rs 4,451 crore; revenue up 100% to Rs 66,406 crore

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Tata Motors' British arm, Jaguar Landrover (JLR) reported a loss of 110 million pounds as compared to 56 million pounds of CNBC-TV18's poll. JLR's EBITDA margin stood at 9 percent and its EBIT margin stood at -0.9 percent.

Tata Motors Q1 results: Net loss shrinks to Rs 4,451 crore; revenue up 100% to Rs 66,406 crore
Homegrown auto major Tata Motors on Monday reported a loss of Rs 4,450 crore for the first quarter ended June 30. The company had posted a net loss of Rs 8,437.99 crore in the year-ago period.
It reported a 107.6 percent rise in the net revenue during the period under review at Rs 66,406 crore, the company said in an exchange filing.
While revenue was 1.5 percent higher than the estimates of CNBC-TV18's poll of analysts, its loss was below the estimate of Rs 1,379.
Its consolidated EBITDA rose 570 basis points to 8.3 percent in Q1 FY22, against the CNBC-TV18 poll's 8.3 percent. But its consolidated EBIT decreased 1380 basis points to 1.3 percent.
The domestic retail sale of Tata Motors surged 340 percent to 95.2k units, the company said.
While its India operations have shown a significant improvement as compared to the corresponding quarter a year ago, the second wave created some supply issues that slowed down the growth momentum of the company as compared to the previous quarter, the company said.
However, It expects the performance to improve from October onwards on the backs of an improved supply chain.
Tata Motors' British arm, Jaguar Landrover (JLR) reported a loss of 110 million pounds as compared to 56 million pounds of CNBC-TV18's poll. JLR's EBITDA margin stood at 9 percent and its EBIT margin stood at -0.9 percent.
Retail sales of JLR in the first quarter were 1,24,537 vehicles -- up 68.1 percent from the corresponding quarter a year ago.
"The shortage of semiconductors is presently very dynamic and difficult to forecast," the company said. As semiconductor supply improves, JLR expects to achieve a positive EBIT margin and positive free cash flow in the second half of the financial year, it said.
The demand remains strong for JLR and India PV while CV demand is showing gradual improvements, the company said in the release.
"In this dynamic business environment, we anticipate that semiconductor issues, commodity inflation, pandemic uncertainty will have an impact in the short term. We expect the performance to improve progressively from H2 as supply chain and the pandemic situation improves," it said.
Highlights - Tata Motors (Standalone)
-- In Q1 FY22, wholesales (including exports) increased 351.4 percent to 114,170 units.
-- Revenue up 343 percent YoY to Rs 11,904.
-- EBITDA up 3110 basis points YoY to 1.8 percent
-- EBIT margin decreased by 5510 basis points to 6.2 percent
-- Retail commercial vehicle (CV) sales stand at 41.4k units -- up 13 times as compared to the previous year. CV EBITDA up by 4070 points to 0.1 percent but declined QoQ due to impact of volumes and fixed cost.
-- Retail passenger vehicle (PV) sales up by 189 percent to 53.8k. PV EBITDA declined 2040 bps to 4.1 percent. QoQ EBITDA is marginally lower by 80 bps.
-- While the volumes across all the segments grew as compared to Q1 FY21, they were lower than Q4 FY21
-- Nexon EV achieved the highest quarter sales of 1,715 units
Highlights - Jaguar Land Rover
-- Wholesale sale is up 72.6 percent to 84.4k, but 27 percent or 30k units lower than planned due to semiconductor shortage
-- Demand is strong with record order book of 110k units
-- Revenue was 5 billion pounds in Q1, 73.7 percent higher than the Q1 FY21. It grew 72.6 percent YoY.
-- Sales were higher in all key regions including in the UK (+186.9 percent), Europe (124 percent), Overseas (71 percent), North America (50.5 percent), and China (14 percent).
-- Retail sales of all model families increase YoY, led by Range Rover and Defender models.
-- Electrified vehicles made up 66 percent of retail sales in Q1.
Follow our earnings page for more updates on Q1 FY22 results
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