₹3,300 crore, Motilal Oswal Financial Services Ltd said in a note to its clients.According to the Mumbai-based brokerage, the prolonged economic slowdown in India would hurt TML’s operating deleverage.
The consolidated debt of the company increased to ₹1.06 trillion in FY19 from ₹65,804 crore five years ago.Tata Motors-owned Jaguar Land Rover (JLR), which contributes about 75-80% of the company’s total consolidated revenues, was on its way to recovery during Q2-Q3 FY20 when the coronavirus pandemic disrupted the global markets originating from China, one of the largest markets for luxury cars.Tata Motors group global wholesales in Q4FY20, including JLR, were at 231,929 units, down 35% YoY.