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Shares of Tata Motors Passenger Vehicles is set to open 3% lower on Monday in response to its second quarter results.

This was the first result reported by the company after the CV business demerger.

– Global luxury auto demand is weak, China’s luxury segment shrinking, Europe struggling

– US demand stable but unable to absorb excess global capacity

– For India business, commodity cost increases could not be offset by price increases

– JLR cyber incidence-related impact of ₹2,008 crore

– JLR cuts EBIT margin guidance to 0%-2% from 5%-7%

– JLR’s cash outflow to rise up to £2.5 billion Vs earlier target of almost zero

– JLR Raw Material costs impacted by Euro exchange rates, MAJOR % RMs are Euro-based

– Weak Q2, an all-round miss

– JLR drags Q2 earnings & seen reporting weak Q3 too

– India Biz outlook in-line with ind, JLR normalcy only by Q4

– Negative free cash flow of ₹8,300 crore

– Negative free cash flow due to lower volumes on JLR cyberattack

– JLR cyberattack led to one-time loss of ₹2,008 crore

– Net adjusted net loss of ₹6,370 crore from Net profit of ₹3,056 crore last year

– Revenue down 14% to ₹72,349 crore from ₹83,656 crore year

– EBITDA loss of ₹1,404 crore from EBITDA of ₹9,914 crore last year

– Forex loss of ₹361 crore versus gain of ₹436 crore last year

This was the first result that the PV business reported after the demerger into two separate entities.

Two things stood out from the quarter, apart from the headline numbers.

Updates on all of this in the subsequent posts.

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Welcome to CNBC-TV18’s Live Coverage of Tata Motors PV’s share price reaction in response to its Q2 results that were reported after market hours on Friday.

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