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Tata Motors PV targets 15 nameplates by FY30 as broker views diverge after Q1
Brokerages diverge on Tata Motors after Q1: Motilal Oswal retains Sell, citing India PV margin and JLR pressures, while Nuvama expects strong India PV growth from launches, mix improvement, PLI incentives and cost savings through FY28.
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Reported figures
From the report. Source details below
| Motilal Oswal target price: | Rs 310 per share |
|---|---|
| Nuvama target price: | Rs 450 per share, reduced from Rs 470 |
| India PV revenue CAGR: | 23% over FY26-FY28 |
| India PV EBITDA CAGR: | 41% over FY26-FY28 |
| JLR revenue CAGR: | 14% over FY26-FY28 |
| JLR EBITDA CAGR: | 52% over FY26-FY28 |
| Motilal Oswal FY27 EPS estimate raised | 12% |
| India PV valued at 13x EV/EBITDA by Motilal Oswal and | 11x by Nuvama |
Also in the report
- India PV expected to grow high double digits in FY27
- Two new nameplates expected in FY27
The source
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