Things for Tata Motors Ltd seem to go from poor to worse.
Plunging revenues across worldwide markets, rising losses, rising capital spending, and high debt, along with a series of downgrades in ratings, have overshadowed investor hopes of an FY20 enhancement.
Although the woes of its subsidiary Jaguar Land Rover Ltd are well known, the fact that the independent business recorded net losses in the quarter of June. The largest issue was the increasing net automotive debt of Tata Motors, which at the end of the quarter was up at some 46,500 crores.
Fitch Ratings recently downgraded the company's debt, which, considering the results, is not surprising.
Analysts estimate that all of these problems will boost Tata Motors ' borrowing costs, which in the initial run could have an effect on cash flows and revenues.
The largest issue was the increasing net automotive debt of Tata Motors, which at the end of the quarter was up at some 46,500 crores.
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