Upcoming AWS Coverage on Kandi Technologies Group Post-Earnings Results

LONDON, UK / ACCESSWIRE / November 22, 2016 / Active Wall St. announces its post-earnings coverage on Tata Motors Ltd. (NYSE: TTM). The company reported its financial results for the second quarter fiscal 2017 (Q2 FY17) on November 14, 2016. The Mumbai, India-based company reported a y-o-y growth in consolidated net revenue for Q2 FY17. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of Tata Motors' competitors within the Auto Manufacturers - Major space, Kandi Technologies Group, Inc. (NASDAQ: KNDI), announced on November 09, 2016, its financial results for the third quarter of 2016. AWS will be initiating a research report on Kandi Technologies in the coming days.

Today, AWS is promoting its earnings coverage on TTM; touching on KNDI. Get our free coverage by signing up to:

http://www.activewallst.com/registration-3/?symbol=TTM

http://www.activewallst.com/registration-3/?symbol=KNDI

Earnings Reviewed

During the quarter ended September 30, 2016, Tata Motors' reported consolidated revenues of Rs.67.00 thousand crores ($10.06 billion), compared to Rs.62.65 thousand crores ($9.40 billion) in the year ago quarter. The quarterly revenue growth was primarily driven by strong sales by Jaguar Land Rover business along with demand pause in medium and heavy commercial vehicle (M&HCV) partially offset by continued growth in the domestic LCV segment, Car segment, and Exports in its standalone business.

For the reported period, the makers of Jaguar Land Rover recorded consolidated profit before tax (PBT), before exceptional item, for the quarter of Rs.983.1 crores ($147.6 million), against Rs.1.19 thousand crores ($178.8 million) in the prior year's quarter. Including exceptional items, the consolidated PBT for the quarter came in at Rs.999.3 crores ($150.0 million, against loss before tax of Rs.2.15 thousand crores ($322.8 million) in the last year's comparable quarter. The company's consolidated profit after tax for the reported quarter was Rs.848 crores compared to consolidated loss after tax of Rs.1.74 thousand crores in Q2 FY16.

During Q2 FY17, basic EPS per ordinary shares came in at Rs.2.4 ($0.04) compared to negative EPS of Rs.5.0 ($0.07) per ordinary shares in Q2 FY16. Furthermore, basic EPS for class ?A' ordinary shares was Rs.2.5 ($0.04) in Q2 FY17 versus loss of Rs.5.0 ($0.07) per class ?A' ordinary shares in the year ago period.

Business Division Performance

Tata Motors Standalone

In Q2 FY17, Tata Motors' standalone unit sales of commercial and passenger vehicles grew 6.1% y-o-y to 134,397 units, representing a growth of 6.1% compared to last year's corresponding quarter. The division reported revenues of Rs.11.41 thousand crores in Q2 FY17 compared to Rs.11.79 thousand crores in the previous year's period.

During the reported quarter, operating profit (EBITDA) of the standalone business stood at Rs.376.1 crores with EBITDA margin at 3.6%. The segment reported loss before tax of Rs.608.9 crores for the quarter ended September 30, 2016, versus loss before tax of Rs.272.1 crores in the year ago corresponding quarter. Furthermore, loss before tax widened during Q2 FY17 to Rs.630.8 crores from Rs.288.8 crores in Q2 FY16.

Jaguar Land Rover Automotive PLC

Jaguar Land Rover division's total retail sales, including the China JV, for Q2 FY17 were 142,459 units, up 29.27% y-o-y. Retail units sales grew across all key regions with North America sales growing 39% y-o-y, UK up 28% y-o-y, along with 49% and 31% y-o-y growth in Chinese and European markets. Furthermore, overseas markets' retail units sales were up by 1% on a y-o-y basis.

The division's revenues for the quarter came in at £5.95 billion compared to £4.83 billion in Q2 FY16. Operating profit (EBITDA) rose during Q2 FY17 to £615 million from £589 million in the prior year's period. Additionally, EBTDA margin for the reported quarter was 10.3% of revenues compared to12.2% in the year ago period.

In Q2 FY17, the division reported PBT of £280 million compared to a loss before tax of £157 million in the year ago period. Furthermore, PAT came in at £244 million for Q2 FY17 versus loss after tax of £92 million in last year's corresponding quarter.

Tata Daewoo Commercial Vehicles Co. Ltd.

Tata Daewoo Commercial Vehicles Co. Ltd. reported net revenues of KRW 237.9 billion (approximately Rs.1,440 crores) and recorded a net profit of KRW 7.6 billion (approximately Rs.48 crores) in Q2 FY17 compared to net profit of KRW 13.5 billion on net revenues of KRW 222.8 billion in Q2 FY16.

Tata Motors Finance Ltd.

In Q2 FY17, Tata Motors Finance Ltd., the financing subsidiary of Tata Motors, reported consolidated net revenue from operations of Rs.673 crores and a loss after tax of Rs.7 crores for the quarter ended September 30, 2016.

Balance Sheet

As on September 30, 2016, the company's consolidated gross debt and net automotive debt were Rs.74.20 thousand crores ($11.14 billion) and Rs.14.47 thousand crores ($2.17 billion), respectively. Furthermore, net automotive debt-to-equity ratio as on September 30, 2016, was 0.26.

Stock Performance

Tata Motors' share price finished yesterday's trading session at $33.94, marginally down 0.44%. A total volume of 1.55 million shares exchanged hands, which was higher than the 3 months average volume of 1.31 million shares. The stock has advanced 16.48% and 11.40% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the company have gained 15.22%. The stock is trading at a PE ratio of 19.01 and has a dividend yield of 0.03%.

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SOURCE: Active Wall Street