Tata Motors' Fiscal 2Q Results Disappoint; INR 560 Fair Value Estimate Unchanged
Narrow-moat-rated Tata Motors reported fiscal 2017 second-quarter earnings per share of INR 2.42, a dramatic improvement from the year-ago loss per share of INR 5.19. Even so, the stock closed 10% lower as the market was expecting INR 8.59. Tata’s EPS result represented an eye-popping 70% miss. The unfavorable swing in the British pound was the main driver behind the earnings shortfall, but declines in Indian medium and heavy commercial truck volume and a disappointing margin performance (exclud...Tata Motors is an automobile company, engaged in the manufacture and sale of commercial and passenger vehicles primarily in India. Co. provides cars, utility vehicles, trucks, buses, and defense vehicles, as well as develops electric and hybrid vehicles for personal and public transportation. In addition, Co. is engaged in the provision of engineering and automotive applications, as well as machine tools and factory automation applications; construction equipment manufacturing; automotive vehicle components manufacturing, among others. Co. markets its vehicles in Europe, Africa, the Middle East, South East Asia, South Asia, and South America.
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