Tata Motors' Q4 FY25 performance was in line with our estimates, with consolidated Ebitda margin at 13.9%, down 30bp YoY.
(Photo source: Tata Motors website)
JLR is currently facing significant uncertainty due to the tariffs levied by the US globally on automobiles. While the US-UK FTA has been a welcome agreement and helps to lower tariffs, the tariff on JLR made vehicles exported to the US is expected to still rise to 10% from the current 2.5%.